second, they need to quit overregulating the american economy. this is something they can do on their own. they don't have to come to us for permission to rein in these regulators who are really at work across the american economy making it very, very difficult for businesses to function. >> schieffer: all right. you know, at an economic town hall that aired on cbs early show earlier this week, your colleague republican senator tom coburn said that the reason that democrats and republicans can't get together is because people in both parties are simply more interested in their own political survival than they are in doing what needs to be done. he said you just don't have the courage to step up to the plate and do it. do you believe he's right about that? >> i sure hope not. i mean we're going to have an opportunity here very soon in connection with raising the debt ceiling to see whether both sides can come together and address this enormous problem. you know, when the chairman of the joint chiefs of staff are taught military guide when asked wh

if you look at the american economy today, the most rapidly growing and strongest parts of the american economy are those most able to benefit from the rapid growth we are seeing in india and other parts of the world. export growth has been good in the early stages of recovery. if you look acrossgriculture, high technology, manufacturing, the most resilient and dynamic parts of the american economy are those most exposed to the growth opportunities we see in india and the emerging economies. with that export growth, you see more jobs, more opportunity, you can demonsate to the average people why we have such a strong taken this relationship. growth in india is good for the united states. it is no threat to the united states, and the more successful they are in putting in place reforms to help a lot future growth, the better it will be for the united states, just as is true that we benefit greatly from the sheer scale of indian talon we have operating in the u.s. economy, the ideas and innovations they bring is good for our economy. as president obama was so successful in doi in india, y

as a mix of higher technology and lower technology, mirroring the breadth of the chinese and american economy, rather than cherry-picking out a high-tech america. when my colleagues and i look at what's happening, it matches up with what you would expect from a commercially motivated economy, not one that was run by a star chamber of officials trying to figure out how to improve china's technological capabilities. in fact, that matches up with what we know about competition on the ground in china. margins are getting squeezed tighter and tighter and tighter for chinese companies partly due to overcapacity in manufacturing and other factors. a complex story. for the first time they have the incentive to go abroad in search of all the margins that apple enjoys in cupertino rather than just being the 2%, 3% margin manufacturer with foxcon back in china. that describes what we see going on. the third point, then, to finish up what i wish to make is that the u.s. needs a china policy not contingent on the expectation that beijing has our best interests at heart and not his own. this is the numbers

chinese investment is trivial for the gdp and the american economy. it's something like the equivalent of 2% of gdp lux -- this is where our dan's data and -- it's not dan's data but it's a group effort but the data set presented in the paper, i'm going to have to call it dan's data and our data is different. [inaudible] >> right, exactly. the thing that dan did all by myself in a day. [laughter] >> we have chinese investment stable in 2010 'cause we count portfolio investment which started in 2007. we stable at $6 billion which is a slightly larger number than dan has. we have it on course to drop in 2011. we don't have a trend and the way we count it is different of the way dan counts it of a strong chinese investment but we have a strong investment in 2009/2010. it's not surprising because there's some drain on chinese capital. we also have a different map because we conclude portfolio investment, chinese investment in the u.s. on our count is dominated by finance and dominated by the state of new york, we saw some diversification in 2010 which is

if you look at what is happening to the american economy as we did out of the mess, as you have seen in the last six months, the broader market was pulling back in panic over concern about the greater economy. the government stepped in and fill the gap. the cleaned up the mess and fill the gap. state governments have been a significant drag on the economy as a whole. that has brought down the growth rate a bit. overall as the government is receding, you are seeing the private sector stepping up. you are seeing a strong rate of growth in private investment. those things are important as you look to rebalance the economy in the long run. >> we have a microphone right here. >> i am from bank of america. you spoke about trade agreements and the possibility of progress there. in a time of high unemployment, some portions of the economy desire protectionism. trading with important partners is key to growth. could you comment on the prospects for progress there? >> we are in the last stage of trade agreements with korea, columbia, and panama. that is important to make sure we do not lose mar

we're on is not producing jobs as quickly as i want it to happen. >> in terms of the economy and economic growth, american people are asking the question where are the jobs? >> bret: talking about the economy today. a day when a knew poll is out by the "washington post." and abc news. the question do you approve or disapprove of the way president obama's handling the economy? 40% approve. 59% disapprove. other stats from that same poll, nine and step, continue to rate the economy in negative terms. 6 in 10 of those surveyed give president obama negative marks on the economy and deficit. bring in a pam about this. steve hayes for "weekly standard." kirsten powers. and charle charles krauthammer. >> the first problem with this is he cites at the press conference the idea what we are seeing in may is basically the gas prices are the most prominent head wind. that is the way he put it. but if that is the case, the numbers don't bear him out. it may put the best month in terms of gas prices from january through april, you saw gas prices successively rise and some cases spike in february, average gas price rose

tonight, what is happening to the american economy? >>> mass panic. a rare and vicious tornado powers across massachusetts. we'll have the damage reports tonight. >>> lethal outbreak. europe scrambles to deal with an e. coli strain never seen in humans. and the americans are watching this one closely. >> and a spectacular show. after a long, hard winter, one of the nation's most beautiful places has come alive like never before. "nightly news" begins now. captions paid for by nbc-universal television >>> good evening. a lot of people have been saying lately, this country is pulling out of economic recession, perhaps. but tonight, there is evidence to the contrary, and lots of it. some bad set of numbers that show real trouble still ahead. there's housing. home prices at their lowest since 2002. there are now 2.25 million foreclosures in this country. there's jobs, unemployment is stuck at 9%. 8 million americans are on unemployment. all those jobs gone away in the recession. and the cost of living is hitting hard. gas, food, everything is so expensive,

don't fundamentally comes from returns if you add in so what's behind his breaking up of the american economy tax cuts for the rich start by reagan carried out by george herbert walker bush then w. bush and now president obama between two thousand and one two thousand and ten the bush tax cuts cost our economy two and a half trillion dollars that's two and a half trillion padded on to our debt the republicans today are screaming is way too high. and that money that should have been flowing through our government and then threw our economy also into the hands of the very few and the very rich in fact nearly a third of all the bush tax cuts went to the top one percent of americans the brookings institute looked into who got what thanks to the bush tax cuts and calculated that the lowest twenty percent of income earners in america save on average about twenty dollars a year thanks to the bush tax cuts about the price of a dinner for one at outback pecks steakhouse not including the tip courtesy the federal government the middle twenty percent saved about seven hundred forty dollars but the price

the american economy had a major downturn the fall of 2008.k that now the american economy is "a," starting to recover? or "b," still getting worse? "starting to recover" was the so-called right answer. if you said, "still getting worse" you were officially misinformed. if you question whether climate change is occurring or whether obamacare will add to deficit, you were also mistaken. then there was last year's pew poll which asked four fact questions like what job did eric holder have? it turns out fox news scored better, not worse, than msnbc, cnn, network evening news and the network morning news. as for individual shows, 31% of hannity viewers got all four questions correct. 29% for o'really. -- o'reilly. all the way down the bottom viewers of jon stewart "daily show" at 22%. so folks, all the talk of you are the most consistently misinformed viewers, i guess the joke is on jon stewart. that is it for today have a great week. we'll see you next "fox news sunday." captioned by closed captioning services, inc what happend last night? appare

if you look at the american economy today, the most rapidly growing and strongest parts of the american economy are those most able to benefit from the rapid growth we are seeing in india and other parts of the world. export growth has been good in the early stages of recovery. if you look across agriculture, high technology, manufacturing, the most resilient and dynamic parts of the american economy are those most exposed to the growth opportunities we see in india and the emerging economies. with that export growth, you see more jobs, more opportunity, you can demonstrate to the average people why we have such a strong taken this relationship. growth in india is good for the united states. it is no threat to the united states, and the more successful they are in putting in place reforms to help a lot future growth, the better it will be for the united states, just as is true that we benefit greatly from the sheer scale of indian talon we have operating in the u.s. economy, the ideas and innovations they bring is good for our economy. as president obama was so successful in doing in in

prsuent to our agreement, i convened this hearing, because the once vigorous american economy is languishinga harvard university professor entitled economy's worse than you think, laments the final sales grew at an anemic annual rate of .6% during the first quarter of 2011. the month of may witnessed the unemployment rate rising above 9% again, and a class of payroll employment gains is another wake-up call. president obama's economic policies have failed to launch a vigorous expansion. instead, this policy has increased the cost of doing business, heightened uncertainty, and detered jobs creating investment. moreover, his policies have burdened our children with an enormous federal debt that continues to grow. one of our witnesses looked at president obama's last two spending proposals, his budget in february and his informal frame worldcom in april, and compares had with the house budget resolution. from this graph, it's clear that president obama and congressional democrats want to make federal spending a permanently larger share of our economy. whereas congressional republicans want mere

can you give a sense what americans are feel bg the economy? not very optimistic at the current conditions and the pessimism seems to be rising about what's going to happen in the future. this is our most recent cnn national survey. 48% of the people we question said another great depression is likely within the next 12 months and that is up 10 points since 2008 at the beginning of the recess. go to the next graphic and let's break it down by party. you can see democrats are a lot less pessimistic and that rises for independents and rises even more for republicans and tea party supporters. i think that's kind of common. in the past if your past is in power you'll be more optimistic. the white house and senate are in control right now so they are more optimistic about the way things are going with the economy. >> how does this also break down demographically by age? >> there is a generational divide, no doubt about it when it comes to the economy and whether things are better or worse. check out this number, we asked economic conditions today are

is much grimmer. 79% say the economy is in bad shape. nearly 50% of americanselieve we will face another great depression within the next 12 months. question, what was the good news about the economy this week, rich? >> it escapes me. maybe the stock market held up but that's really not what people are worried about. if you look at the job market -- >> beige book says no double dip recession? >> that's -- >> you know what the base book is? >> i don't. >> it's parts of arsenal of the federal reserve board. all of the individual -- eight or so entities that cool the federal reserve call in and give their own environment. that's called the beige book. it says no double dip recession but a resumption of slightly higher growth for the rest of the year,. >> let me say this, may figures were horrible. jobs created went down to 55,000 rather than 215,000 expected. manufacturing went down, consumer sentiment went down. two million homes are vacant. you've got one-fourth of all home underwater. john, it may be a bump in the road, i think wa all hope it is, but if it's no

if you look at the american economy today, the most rapidly growing and strongest parts of the americanhose most able to benefit from the rapid growth we are seeing in india and other parts of the world. export growth has been good in the early stages of recovery. if you look across agriculture, high technology, manufacturing, the most resilient and dynamic parts of the american economy are those most exposed to the growth opportunities we see in india and the emerging economies. with that export growth, you see more jobs, more opportunity, you can demonstrate to the average people why we have such a strong taken this relationship. growth in india is good for the united states. it is no threat to the united states, and the more successful they are in putting in place reforms to help a lot future growth, the better it will be for the united states, just as is true that we benefit greatly from the sheer scale of indian talon we have operating in the u.s. economy, the ideas and innovations they bring is good for our economy. as president obama was so successful in doing in india, you can p

transformed the american economy. they know what they are doing and how they are doing it. again, we are the last line of defense. the attorney-general in south carolina is fighting to keep those 22 states that are free of compelled unionization. we are a coal state. we are here for a reason. coming to an internet near you this summer, this is the most brazen one of all. the fec is going to roll out again and ordered to regulate the internet. why is this the month raised -- most brazen one of all? for one simple reason. a year ago, in 2010, they had a court ruling telling them they could not do this. they thought about it and said, we will do it anyway. it is just a court ruling. talk about a brazen this regard, distain for the rule of law. we may not like what courts do all the time, but there has got to be a place where our contests are rep read and thought out. this administration does not just this respect state and federal law, does not just this respect the united states constitution, but they also have no respect for the courts of this country. it is amazing, and thi

paul, can you give us a sense of what americans are feeling about this economy? reporter: yeah, gloria, you and i pore over these numbers every day. they say the same thing. americans right now, not very optimistic at all with the current conditions. and the pessimism seems to be rising about what's going to happen to the economy in the future, in the next year. take a look at this survey. 48% of the people we question said another great depression is likely within the next 12 months. that's up ten points since 2008 at the beginning of the recession. go to the next graphic. let's break it down by party. you can see democrats are a lot less pessimistic. it rises for independents and even more for republicans and tea party supporters. i think that's kind of common. our pollster told me in the past, if your party is in power, you're going to be a little bit more optimistic. of course, the white house and the senate are in control right now, they are a little bit more optimistic about the way things are going with the economy. >> how does this also break down demogra

. >> the president is satisfied with the second rate american economy produced by his third rate policies. >> shepard: tonight, fueling strategies for economic recovery. we'll get to all of this but we begin with the breaking news from texas tonight where some investigators say they are on the scene of what may be a gruesome discovery. a mccob tip came in they tell that's as many as 30 bodies are buried at what's described as a home. of course, that -- the residents there said not to be cooperating. conflicting reports now. one local television station reports many of the bodies are those of children and that some of them are dismembered. another local station is quoting the sheriff there as saying that so far there are no reports of anyone dead on scene. a live look now as we do know that the fbi has been called in to assist. this is liberty county, texas, where the word of the possible discovery started spreading just less than an hour ago. the sheriff's department reports that it started with that anonymous tip and that deputies are now waiting for the search warrant after they arrived

. >> tom: exports have been one of the bright spots for the american economy, helping boost growth and create jobs. but new trade deals with panama, colombia and south korea have been stalled in congress for months. that standoff may soon end. washington bureau chief darren gersh spoke with u.s. trade representative ron kirk. kirk also is the former major of dallas. darren began by asking why it's been so hard to pass these trade agreements. >> well, because you're in washington. and everything is, you know, everything is hard in this town. but the reason that we took the time to look at korea and panama and colombia, not just from the standpoint of what does it take to pass them, but look at them in the broader context, that what 95% of the world's consumers somewhere other than the united states, part of our success in the future is going to be linked to our ability to take more of what we make, manufacture, innovate, create here in the u.s. and share it with the world. and so within that you've got to have a trade policy that not only speaks to those that say hey, pass these agreeme

if you look at the american economy today, the most rapidly growing and strongest parts of the americanost able to benefit from the rapid growth we are seeing in india and other parts of the world. export growth has been good in the early stages of recovery. if you look across agriculture, high technology, manufacturing, the most resilient and dynamic parts of the american economy are those most exposed to the growth opportunities we see in india and the emerging economies. with that export growth, you see more jobs, more opportunity, you can demonstrate to the average people why we have such a strong taken this relationship. growth in india is good for the united states. it is no threat to the united states, and the more successful they are in putting in place reforms to help a lot future growth, the better it will be for the united states, just as is true that we benefit greatly from the sheer scale of indian talon we have operating in the u.s. economy, the ideas and innovations they bring is good for our economy. as president obama was so successful in doing in india, you can point t

far more open than the united states, than any latin american economy, along with chile, and similar to most economies. the sum of experts and imports over gdp is one the highest they are over 50%. we're a country where tourism is enormously important. it's the number one generator of hard currency and the number one employer in mexico. where remittances for mexico immigrants aboard are a very important source of currency. also by the way, the country where there are more u.s. nonmilitary narcotics living than any other country in the world. around a million americans live in mexico, which is more than any place else in the whole world. this open economy which has been a good thing by and large. not as many as people thought it would be. perhaps not as beneficial as many expected. but it's ban good thing in general terms. but it's also very much concentrated with the states. with the united states. 90% of our experts go to the united states. 90% of our oil goes to the u.s. 90% of the tourist that visit mexico come from the u.s. and so on and so forth. obviously, all of our immigrants

there's another powerful indicator of just how bad things are in the american economy. but it's not happening here. it take a look in the streets of athens, greece. riots as more than 20,000 people masked in the streets. protest became violent regarding cutbacks. the greeks continue to struggle with crushing debt. they're in a desperate and perhaps doomed fight to avoid default. police used tear gas to repeal protestors. a frightening scene. what does it mean to us? a lot. another bailout for greece has far-reaching implications in a global economy and the stock market knows it. a default for greece could trigger other european economies to go under. it's all very scary. but perhaps the biggest threat to us is simple. it boils down to one word -- jobs. i'll have more on this in a moment. >>> first, a look at the other stories we're deal driling down on tonight. pakistan. we got bin laden. but now pakistan's intelligence service is rounding up the people who helped us get him. i'll ask a former cia officer, is this revenge? >>> and america under siege. a new wave of cybe

with the american economy in mind, president obama says the war in afghanistan is coming to an end beginning next month. >> we have spent a trillion dollars on war. at a time of rising debt and hard economic times, it is time to focus on nation building here at home. >> reporter: his plan, 10,000 troops out by the end of this year. 33,000 total by next summer. it is a more as gresive pullout than military advisers wanted, but even some democrats aren't satisfied. >> we've got a deficit issue. you want to save a third of a trillion dollars, get this war over soon. >> we need that money back here in the united states. >> 70,000 american troops have to stay there so one fraction of afghans can be equal to another. i don't understand that. >> this morning afghan president hamid karzai said his young troops are ready to take over. and in a rare statement, a taliban spokesman urged all foreign troops to leave. following the u.s., france also announced this morning a progressive withdrawal of its 4,000 troops in afghanistan beginning this summer. >> so france beginning to leave the u.s., beginning

economy. a key part to the american -- the rebuilding of the american economy and understanding that we can make things again in this country and by doing so we can ensure that american families make it again in america. i thank the gentleman again. thank you, mr. speaker. the speaker pro tempore: the gentleman from rhode island yields back. under the speaker's announced policy of january 5, 2011, the chair recognizes the gentlewoman from alabama, mrs. roby, for 23 minutes. mrs. roby: thank you, mr. speaker. i ask unanimous consent that all members have five legislative days to revise and extend their remarks and include extraneous material on the topic of my special order regarding the debt. the speaker pro tempore: without objection. mrs. roby: thank you. mr. speaker, we face a budget crisis in this country. america is broke. without bold action, our budget situation will get worse, not better. we also face a severe economic recession. the current national unemployment rate is 9.0% and it has been as high as 10.1% back in april of 2009. with so many americans out of work, the federal governmen

economy. it's the third biggest destination for american-made goods and services and europe's biggest trading partner. jing ulrich is the chairman of global markets for china with j.p. morgan. she joins us tonight from new york. jing, is the chinese economy with the higher inflation and these high property prices on an unstable path? >> i don't think it is on an unstable path. how much, we do have some imambulances in the economy. for example, luxury housing prices have been too high. we have an inflation problem krifen by food prices, commodity prices. but in addition, we also have to worry about what's happening in the chinese economy, especially in the hinterland of china. we have income gaps becoming wider and wider across the country. that's why the chinese authority has implemented important plans to narrow the income gap, reduce inflation and reduce the imbalances. >> tom: let's talk about that real quick. reduce inflation and reduce income gaps. can those two things happen? you would think to reduce the income gap you would have to raise prices which would feed inflation. >> the chines

so if they double one more time and a bit more, they'll be about the same size as the american economy. >> so should people be worried about that? >> no, i don't think so. not necessarily. this is a big economy. it will be a richer economy. it's a huge opportunity for highly competitive firms. it will be an employment generator for us to some extent. >> if we're able to sell to those people. >> if we're able to sell. exactly. >> that's really a critical piece of it. >> yeah, it is. that's the issue. >> michael, great to have you on the program. >> it was fun to be here. >> best of luck on the book, it's a great book. "the next convergence" is in bookstores. >>> up next on "the wall street journal report," investor's guide to the new normal. what the debate of the death of it means for your money and how to protect your financial future. >>> later, is the oracle of omaha a girlie girl when it comes to investing? warren buffett may just be in touch with his feminine side. as we take a break take a look at how the stock market ended the week. back in a moment. ♪ [ engine revving ] [ male

. >> reporter: with the american economy in mind president obama says the war in afghanistan is coming to an end beginning next month. >> we have spent a trillion dollars on war, at a time of rising debt, and hard economic times. it is time to focus on nation building here at home. >> reporter: his plan, 10,000 troops out by the end of this year, 33,000 total by next summer. it's a more aggressive pullout than military advisers wanted but even some democrats aren't satisfied. >> we've got a deficit. you want to save a third of a trillion get this war over soon. we need that money back here in the united states. >> 70,000p troops have to stay there so one faction can be equal to another. i don't understand that. >> reporter: the remaining troops who could be there until 2014 are needed analysts say, to protect america's interests in the region. >> primarily it's western pakistan and yemen and we hope to keep them out of afghanistan like we have. >> for al qaeda president obama says it's weakened. half its top commanders taken out, victories that allow the u.s. to refocus on problems at

there is a question. >> my question is how we are going to benefit from this conversion in the american economy? will we have many to worry about how to address this? >> i'm awfully glad you asked that question. that was what i started thinking about right after writing the book in this past nine months. some of you have heard some of this. i apologize for that. part of the impact of rising size and movement up the value chain is a different pattern of impact on the structure of the advanced countries. one kind of mid process in trying to understand the structural changes, the correlated structural changes in the advanced economy that go along with the evolution of the global economy if you look at the american economy since 1990 up to the crisis it's in the non tradable sector. if you look at the trade will sector what you find is that the ones where the united states is quite competitive, finance, computers designed, managing, multinational enterprises, there is growth in everything, and come, value added per person, value added, growth in employment. then you look at the long supply chains a

that's as recent data shows the american economy hit a soft patch. trader ray carbone says europe's escalating debt crisis is also raising questions about global oil demand. >> i think everyone is waiting to see what happens with the no confidence vote in greece, the selling of the package of austerity to the parliament, what's going to happen with the eurozone debt and contagion fears. >> reporter: lower oil prices couldn't come at a better time for the u.s. economy. not only has the nation's unemployment rate remained stubbornly high this spring, but escalating food and gasoline costs are taking a big bite out of consumer spending. economist joe davis says the drop in oil prices has made him more optimistic about the second half of the year. >> i think that will be one reason why more likely than not that this will turn out to be more of a soft patch than the start of a new recession. i think, fairly, it feels like more of a pothole to many americans, in part because of volatility in the financial markets, food and energy prices both being up, as w

when you ask president obama how the american economy is today, he spends.e tells you the positive news and downplays the negative news. when a boy meets a girl the boy wants today that girl. he goes to great lengths to portray himself and the most positive light. he is spinning. deception as part of daily life. but lying is a special form of deception. most people in our society, the vast majority of people in our society would recoil at being called a liar. there's something really terrible. as a result of that i don't think that leaders who lied to their people or leaders to launch other leaders feel good about it. there may be a good exceptions. but someone like dwight eisenhower, even john f. kennedy, very, very reluctant to line for more reasons. it is a form of behavior that is actually quite detestable. the fact is that when you are dealing with the edge national politics and if the security of your country is on line you will not hesitate to lie, not because you're an evil person, but because you do what you have to do to protect your country. that

we are playing russian roulette with a loaded gun in the american economy. >> reporter: the nation hid the $4.3 trillion debt ceiling two weeks ago meaning it's already borrowed the money it's legally allowed. since then the treasury department has been shifting funds around to cover expenses. that will work until august 2nd. if no agreement is reached, the u.s. government will default on its debts. >> it could reverse the recovery potentially, it could definitely have an impact on growth and definitely have an impact on job creation. >> reporter: behind closed doors vice president biden has been leading talks with a small group of lawmakers from both parties. they're looking for more than $1 trillion in spending cuts to offset an increase in the debt ceiling but freshmen republicans who campaigned on fiscal discipline are pushing for more. no one's really sure what would happen if the country defaulted on its loans. it's never happened before but even the debate has consequences. lawmakers scheduled last night's vote for after the stock markets closed. >> we'll see what happens in the

man: infrastructure is vital to the american economy. water, after all, is an essential ingredient in hundreds of thousands of everyday products. narrator: agriculture and industry use roughly

the president is satisfied with a second-rate american economy produced by his third rate policies. i am not. i promised to local with the american people and look them in the eye and tell them the truth. i went to florida and said that we need to raise the retirement age for the next generation and two cost-of-living adjustments for the people coming into the workforce. i went to new york city and told wall street that the era of bailouts had to end. the economy is not even growing at 2%. that is anemic. that is unacceptable. that is not the american way. the recession might have changed our economy but it did not change our character. the u.s. is home to the most dynamic and entrepreneurial people in the world. they are ready to innovate, and vest, compete, and create new businesses and jobs. that will mean opportunities for everyone. they have been discouraged and weighed down by president obama's regulations. they deserve a better deal. i will give them one. let's start as a nation with a big positive goal. let's grow the economy by 5% instead of 2% currently envisioned. such a n

too many messages sometimes on the economy and not enough focus on the issues the americans care most about. that's the economy and especially the issue of jobs but the fact is, you could have the best message in the world and if people were looking around and still seeing their neighbors unemployed, still worried about losing their own jobs, still underwater on their house, maybe not able to move to a better job in a different location because they can't sell their house, nothing will convince them that times are good. you really need the reality of the economy to get better. you need to get ahead of steam if you're siting in the white house, a head of steam going within the next year or so to convince people by the time they go back to the polls that the economy is doing better and they can trust that will continue. >> ifill: susan page and mark vitner of wells fargo, thank you all very much. >> woodruff: still to come on the newshour, japan's nuclear crisis worse than originally thought; 30 years into the global aids pandemic; and the magical realism of "the tiger's wife." but firs

>> the american economy is a ticking time bomb. let's face it.you have this deficit commission of senator simpson and earn steen bowles. you look into details. this is not partisan. this is raw economics in numbers. we're entering the danger zone. he will have to manage that. if that goes off the rails where, you know the republican -- chris: management again? >> it's management. look, it's survival politics. as talls is. >> i will tell what you else he will do, he will do this because it's good politics and he actually believes it's true. he's going to compaign as the last bulwark, the only bulwark in extremist in the republican party. the only way to protect my accomplishments in the first four years, the only way to protect it is keep the white house out of the hands of these people and will he have things to point out over the next two years. he will point at those things. that will be the politics -- chris: you talk about, if the republicans are red dogging the football, go right after the quarterback. him being the bad guy. get rid of him.

. >>> the latest numbers show americans are still concerned about the economy. esident's message to americans. >> it is supposed to help kids, but now the state is stepping in. why a popular childcare facility is being accused of

rising concerns about a group bail out and growing signs that the american economy is slowing down. world's second biggest builder plan to boost production and a jet liner by 33 percent a month. they have bigger luggage bins . lighting. they are looking at them each work day and johnson and johnson and they are working to focus on other cardiovascular therapies . a big hit with corporate customers compared to the 2007 version. they are adopting it faster than the predecessor. >> a stock market and know how and maybe you can find it here. this is warren buffet's childhood home up for sale. he is the third richest man in the world. he spent the home that was built by a sears kit. >> he lived there until age six. >> i am not sure how much investing advise but take a. we'll show you where we come back. looking for deals on drug store make up. >> where you can save up to five bucks an item. >> and bay area university closes its doors after running out of funding . >> we head toward 5:00. this is the approach to the golden gate bridge. northbound traffic is moving well and starting to slo

. 89% of americans say the economy is in bad shape. 59%, and a new high, disapprove of the president's handling of the economy. a 66% of americans consider the country seriously on the wrong track. 25% are flat out angry about the way the federal government is operating. the last time americans were so frustrated in washington was 1992. that years democrats -- the choice between george bush to bill clinton was down to a slogan, the economy stupid. will history repeat in 2012? the nation added just 54,000 jobs last month far less than expected. the challenge for the white house will be boosting americans' confidence while also acknowledging their frustration. >> i think when he talks about the positive moves, i think it makes people angry. >> one silver lining for president obama. of the poll shows he is ahead of all of the republican contenders. he leads sarah palin by 17 points. >>> folks driving along i-95 in maryland did a double take this money, no doubt. they saw an airplane hall on a flatbed. this is over woodlawn, news choppers

economy. every new job created by americans in a private sector strengthens our economy. sident has taken over our health care against the clear wishes of the american people. he has made us more dependent on foreign oil, has used taxpayer money to bail out the auto industry, passed a stimulus bill that was enormously extensive that didn't create jobs. he has grown the national debt to over $14 trillion. he has taken us to where the debt is almost as large as the entire economy. and he has brought the country with the great history in the world to the point of flirting with bankruptcy. you couldn't make these things up. and yet, in spite of all of this failure he is now asking us to give him four more years. to do what? to take over the banking industry? to take the debt from $14 trillion to $20 there will? -- drr 20 trillion? one can only guess what a second obama term would bring. which brings me back to my thesis. time is running short for america. we are at a tipping point. i want to answer that fundamental question about where america is going. america will march bold

in certain financial circles, is not the thing that brought down the banks, and with it the american economy. with that, millions of people's jobs, houses, savings, retirement, and future. that was the financial crisis, and that was caused by reckless practices of executives at the top of the biggest banks and lenders and insurance companies in america. not a single one of them not only has gone to jail, but has even been prosecuted for what happened in 2008. tavis: why not? >> asked preet bharara. i went into this article thinking this was an outrage and a failure of political will, and possibly even a coziness between top officials and top bankers. i would say it is a failure of political will. i think washington has failed to make it a priority under the bush administration and the obama administration. the higher priority was to stabilize the banks. that might have seemed like it would be undercut by prosecuting the bankers. the decision was made, or the trend of things went toward stabilizing rather than prosecuting. but i think at the level of preet bharara, a u.s. attorney, it is hard