fix the american economy be taken into europe can then the same measures fix you up as well or you do what you do need to have different approaches because two different things still there are different things europe essentially has a double problem they have how do we get southern european and northern european economies to move in the same direction and for that i think the answer is don't pursue austerity pursue growth and then there's a second problem of once countries are all moving in the same direction can you fix the european financial system and create united structures so that this problem doesn't appear again as it may appear in the next economic difficulty if the current division among national financial systems isn't isn't fixed as the author of the over book on global population trends you have argued that the most important thing is really the distribution of population now that the rich economies are really out of steam and the global economic crisis god knows how long it will stay around will these sick commie sexual be capable of absorbing. even new scores of immigra

two trillion dollars annually and sort of is over that creates the american economy no going to has a mitt romney correctly pointed out last night without regulations you don't have to go on and on and i don't want to rule over a soccer game but no one is talk. about eliminating the regulatory state but we have to look at the fact that you were on a second ago you were i don't know not only to get entirely but we can if we cut the regulatory state by twenty percent we can create twelve million jobs and you're low there you are i'll give you out you're completely right of the what we've seen president obama in the past four years with limited more regulation of small business is than george bush did in eight years was the right that is a job is not a no but it was a lot through regulatory items from his unlimited regulation when i go to a tournament i just said he limited regulations but regulatory cost regulatory costs under obama have gone up forty five percent the idea of the regulator who according to the small business administration and they they do what they do with a f

let's just look at the american economy, the european economy, and the china economy. and you tell me what you see. i don't see it getting worse, but i want to hear what you see. >> i see the u.s. economy improving slowly because we're basically not an export economy as much as china is. i see china continuing to worsen. you can't believe their numbers, but if you look under the numbers you'll see they're all eroding. if you look at what companies tell us, they're all eroding. and buying, they have been stimulating. fixed asset investments up 22% year over year. that's mind-boggling. you look at europe, austerity's going to hurt. 2013's going to be a year to go away from europe. you've had big gains there and stay with the u.s. so i see one economy, the biggest economy in the world, improving. if romney gets in, i think then we go into hyperdrive in the u.s. because it's still got to be jobs led and we don't have those jobs. >> what's your favorite investment right now, steve weiss? >> my favorite investment, my newest investment is i bought j & j. they have a new ceo.

brings us to another topic discussed in last night's debate the outsourcing of the collapsing american economy here's bob schieffer talking about the threat posed by the chinese economy. the scope of the next segment because it's a very important one it is the rise of china and future challenges for america. and it's not just china it's developing nations all around the world that are buying up american industries thanks to corporate predators and free trade policies every single second four thousand dollars worth of american industry is sold off to a foreign investor every single second our economy is being deconstructed packed in a box put on a freighter and shipped overseas and nowhere is this massive selloff more evident than in freeport illinois there you'll find a factory belonging to some sort of technologies a company that manufactures parts for automobiles and airplanes and that factory has been more profitable than ever in recent years employing more than one hundred seventy americans you don't know member fifth just one day before the election it will close its doors for good and th

and there is a legitimate piece of the international policy debate that deals with the american economywall street triggered this financial collapse and it's been sustained by europe. but there are pieces of this international debate, it's not really about trade. it's the world financial architecture. i don't think they're going to go there. bringing it back though, look. mitt romney's classic debating position. we've seen it two times already is not to offer up solution and to say i don't have to do anything. i just have to critique you. you're the president. so when people ask him what would you do about this or that problem. simpson bowles. he says i don't need to give you an answer. it's a bit like hearing his wife saying we don't need to give you those tax returns. you have all you're going to get. >> i was going to say, don't forget there is another vulnerability for governor romney and that is when we talk about trading and the global economy, president obama has a wonderful argument too make about who was it that was betting against the american economy, who was it part of shipp

it'sicismmatic of the american economy. the figure you just cited-- 40% think we're in the right direction. why do the other 60% think no? because there's a women. the openers of the nfl teams are making tremendous money. they have very rich franchises and all referees want is a secure retirement, same thing that has been going on for decades here. if you look at america over the last 30, 40 years a wedge has been driven into our economic system. the middle class has stayed flat. the sense u bureau said roost year the average wage of a male worker is dead the same in 2011 as it was in 1978. 30 years of going nowhere. at the top, the top 1%, ther income went up 600% while the middle class is flat. that's why you're getting those figures. that's why we're getting slow growth. the middle class isn't being paid well enough so there's not enough demand to push our economy. the middle class are the job creators, and we're ignoring them. >> schieffer: bob woodward, your book kind of gets into that in a very contemporary way. you'r

of your office needs covered unfortunately staples business model has the destruction of the american economy covered to tell you why and i still eat it. most of the rest of the news this week the two thousand and three u.s. soldier was killed in afghanistan this is the nation's longest running war and it's also the forgotten war the two thousand death of an american soldier didn't get near the attention it deserves in our corporate media nor did how many afghan civilians have been killed in this war the u.n. estimates that more than thirteen thousand innocent afghan civilians have died so far although the u.n. only started keeping track in two thousand and seven six years after the war started so the numbers probably much closer to twenty thousand or maybe even many more than that a lot of dead innocent men women and children today would turn. in the middle east the mainstream media asked silly questions about the muslim world like why do they hate us maybe it has something to do with those civilian death tolls it's becoming increasingly creasy only obvious that drone warfare is a real part

keep african-americans and other minorities from having an equal standing with whites in the american economy. then the one nine hundred sixty s. came in the civil rights era challenge the status quo acknowledging the blatant racism in our economy in one nine hundred sixty one president john f. kennedy signed executive order one zero nine to five which created the committee on equal employment opportunity and force to businesses that were receiving federal funds to remove any racial biases in their hiring decisions in that executive order for the first time the words affirmative action were used to describe the steps that should be taken to give minorities equal standing in the economy than in one thousand nine hundred sixty four the civil rights act was signed into law prohibiting all kinds of the discrimination based on race color religion or national origin but president lyndon johnson knew that wouldn't be enough to remedy more than three hundred years of racial subjugation and nine hundred sixty five he gave a speech at howard university on why affirmative action is necessary saying quot

frac suggest here to stay temperature is too important to the american economy but make sure it is safe>> thank you for joining us . great thatto have you. >> coming up. >> coming up. moms and dads, be aware yeah, i'm looking to save, but i'm not sure which policy is right for me. you should try our coverage checker. it helps you see if you have too much coverage or not enough, making it easier to get what you need. [ beeping ] these are great! [ beeping ] how are you, um, how are you doing? i'm going to keep looking over here. probably a good idea. ken: what's a good idea? nothing. with coverage checker, it's easy to find your perfect policy. visit progressive.com today. >> it is time for what i need to know for next week? parents be aware. california threw a mother in prison for two little kids missed days from school . we need children advocacy out there. they need an education. >> if your kids don't go to school and you go to jail. >> 116 days is a lot of the missed days for missing the alarm? >> cs technology. trading in a low pe and make hard drives and hard drives. it is growing

frac suggest here to stay temperature is too important to the american economy but make sure it is safe . >> thank you for joining us . great thatto have you. >> coming up. moms and dads, be aware >> it is time for what i need to know for next week? parents be aware. california threw a mother in prison for two little kids missed days from school . we need children advocacy out there. they need an education. >> if your kids don't go to school and you go to jail. >> 116 days is a lot of the missed days for missing the alarm? >> cs technology. trading in a low pe and make hard drives and hard drives. it is growing in the administrate and a right price. >> johnathon in >> i think that government's manipulation of interest rates is explode i am looking at securities with higher rates. i like all of the floating rates funs . it is a fund that owns loans that float with short term interest rates. i own it >> you think interest rates will go up short term. >> i think short term and long term. those funds that benefit and it is time to play that trend. >> thank you very much. we want to give you

>>guest: not if it is negatively impacting american drivers and the american economy. >>eric: so you want trade restrictions or protectionist? if you refine it here you keep it here and we make it more expensive for are to do business here but don't sell it anywhere elsewhere the standards are easier to deal with? >>guest: we already have those regulations over crude oil that is produced here in the united states. if you want to export american-produced crude oil you have on get a license to do so from the department of commerce. we ought to at least investigate whether the record level of gasoline exports from america is contributing to the higher prices at the pump. >>eric: you have to admit the reason why a refiner is selling their gasoline elsewhere is because it is too expensive to meet the requirements here in america? >>guest: no, that is false. >>eric: that why not sell it here? they do not sell it out of the kindness of their heart. >>guest: they are doing it because gasoline demand in the united states is flat or negative. >>eric: you cannot tell me glass fla

, but i do know the administration is looking for ways to protect american companies and the american economy and american infrastructure from cyber attacks. that is a critical national security issue. i understand the position of industry, different industries, worried about what is going to happen. but we have to fess up to the to protecte need ourselves. we really do. i think that will be a major point in the next congress. is really only getting worse. there is a number of international things that also have to be worked out. and i think that will come to a head in the next a administration as well. >> obviously, cyber security is a critical issue for government networks, private networks, commercial networks and there is clearly an important place for industry to collaborate, particularly with the sharing of information. what attacks are each being subject to, what the remedies might be. i think the split and the danger might be -- one supports the premise that the government should take a leadership role and the regulatory role. i cannot think of anywhere else in the economy where the t

frac suggest here to stay temperature is too important to the american economy but make sure it is safe . >> thank you for joining us . great thatto have you. >> coming up. moms and dads, be aware if your kids skip school you could land in the slammer . ess - from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... - ♪ 'cause people got me questioning ♪ ♪ where is the love - ma'am. you forgot your purse. - thank you. oh. thank you very much. - a message from the foundation for a better life. >> it is time for what i need to know for next week? parents be aware. california threw a mother in prison for two little kids missed days from school . we need children advocacy out there. they need an education. >> if your kids don't go to school and you go to jail. >> 116 day

i am proud to be a member of the partnership for a new american economy. i want to thank my friend, mayor blumberg, for keeping the immigration issue at the forefront. really leading the way so that our country can have an important discussion on the issue. i know tonight's conversation is about immigration. i also want to recognize the mayor for his lead on the illegal. together we started as bears against illegal gun six years ago and now we have over 700 mayors as part of the coalition. we recently launched a demand a planned campaign to press our leaders in washington to offer a detailed plan to reduce the daily toll of gun violence across the country. i am proud to stand with him on this fight. i thank him before his almost on a daily basis. [applause] i also want to think rupert murdoch for being here and sharing his views. sometimes the headlines, rupert, i have to talk to you about those headlines. thank you for being with us. it just gives a diversity of opinion. today am pleased to offer some brief remarks about a vitally important topic to our n

can help spur the economic growth that we need that's going to create jobs and help turn the american economynd. >> do you agree or does mitt romney now believe that todd akin should still step aside and get out of the race and that what he said was so offensive and wrong wrong he should not be the republican candidate? >> yeah. governor romney made very clear at -- when i'm sorry when congressman akin made those remarks he disagreed with them entirely and could not stand by them and that hasn't changed. >> and so he's not going to go along with other republicans in the senate campaign committee and people like roy blount who's major figure in your own campaign, senator blount, and former senator kip bond who have endorsed todd akin? >> yeah. i can't speak for governor bond and senator blount, but governor romney has made his position very clear on that and it has not changed. >> and what about what chris christie had to say the other day on "meet the press," told david gregory that on thursday morning it's going to be a new race, he said mitt romney's going to be standing on the same stage w

this is a private stimulus package for the american economy. >> you are suggesting a jobs program throughon spending. >> exactly. where is the problem? >> it doesn't benefit america. most americans are singed by it. >> really? what about these americans they are busy making hats and tote bags normally manufactured by anymoreible fingered malaysian children. it's thanks to election spending. we learn why. >> half work is directly election based. >> they could get the baseball hats cheaper from foreign sweatshops but they can't because -- >> if they get caught which they will it will cost so much more money to fix the problem, back pedal. apologize, change their message. >> these jobs are all in part built on the kind of electoral jinglism part of modern campaign culture. >> our business is built on thank you have the eagle by the balls, mitch. >> haven't heard that one before but it makes sense. >> all day, mitch. all day. the problem isn't that there's too much money in elections it's that there's not enough elections in the first place. luckily there's a way for us to fix that. >> our na

economy, it's the assets and under reagan's supply side movement, the private assets of the american economy boomed. and so the liability became less significant in our economy thrived throughout the period. >> george, a lot of fellow travelers from the past on the sup ply side have let go of the they theory. >> yep. a lot of them become involved in it the silly analysis of what happened after clinton raises tax rates or clinton drastically lowered the capital gains tax and that was where most of the new revenues came. but in general, fifty nations around the world have reduced their tax breaks sin wealthy and poverty was published. and draysly reduced the tax rates. not of these have flat tax an in all the countries of revenues of boom there hasn't been a big crisis of spending and estonia. there's a vast boom in estonia with the 12% flat tax and the fact is that sup ply side economics is booming around the world. it's only in the united states that some souls are shrinking from there economic of enterprise. >> what's your analysis of what's happening in donald rumsfeld would call old europ

romney is walking on stage and we'll have to go to him shortly but is it a good day for the american economy or not, tell us? >> it's definitely a good day. the auto sales number was good, consumer confidence up, but we had truthers, birthers and now we've got jobbers, these people who don't believe the government data here and to those people i would quote carl sagan and say extraordinary claims require extraordinary evidence and there is simply no evidence that anybody at bls did anything improper here. that number came down to 7.8% because of the household survey being very, very strong more than 800,000 jobs created in that survey. there's a technical reason for that i won't get into but that's what happened here. it's an unusual blip but it did happen and the data is real. >> to clarify, the bls is not a sort of partisan body. they sort of -- these are statitions who work through multiple administrations? >> yeah. these are career people who are economists who do this for a living. they have very, very serious. i know these guys. they take this very seriously. they don't work for hilda

the point is -- the point is that we can fix our economy. american workers are the best in the world. they're the fundamental aspect of america's economy. they're the most innovative. they're the best -- we're the best exporters. we're the best importers. they're most effective. they are the best workers in the world. and we've got to give them a chance. we've got to give them a chance to do their best again. and they are the innocent bystanders here in what is the biggest financial crisis and challenge of our time. we can do it. >> thank you, senator mccain. we're going to continue over in section f., as it turns out. senator obama, this is a question from you from theresa finch. theresa? >> how can we trust either of you with our money when both parties got us into this global economic crisis? >> well, look, i understand your frustration and your cynicism, because while you've been carrying out your responsibilities, most of the people here, you've got a family budget. if less money is coming in, you end up making cuts. maybe you don't go out to di

. >> rose: where do you think the american economy is today? and is it trending upwards? >> it's not really trending upward. i guess i would describe it as part of-- i call it a long slump, long malaise unless we do something. >> rose: right. >> you know there are two big gaps in our economy, relative to say 2007 before the crisis. one is real estate. real estate was the big sector, the bubble broke and now real-estate investment is half of what it was. no way that that is going to recover soon. the only good news is the houses were shodly constructed and it may be 5 or 10 years we'll have to reconstruct them. but any time soon we're not going to go back to that kind. >> rose: an too many people ended up with mortgage these couldn't afford. >> exactly. and that is part of the thing, the second part of the problem, consumption. before the crisis we were saving close to 0 out of our disposable income. that wasn't takenable. and didn't make long-term sense. but it sustained economy. now savings is between 4 and 5%. hopefully it won't go lower than that. every once in a while

the one thing the candidates to agree on is the american economy needs a boost. there are different policies on how that should be done. a short time ago -- he joined the from newport beach, california. as voters watch this debate and make their decision about the american election, what will be the biggest decision under president obama or a president romney? >> they will hear that there will be lots of differences, but the reality is a difference. at this stage, each candidate is trying to -- themselves. they do this by raising doubt about the other. look for romney to claim that obama will raise taxes across the board. look for obama to claim that romney will destroy the social safety net. the reality is that whoever wins in november will have a very small set of policies they can pursue if they want to put this economy back on track. there will have to do a bit of both. this " reform on the tax side and the eenditure side. >> on a camping trip with her for mitt romney that he will be much more aggressive about cutting the federal deficit. will he do that? >>

sent us this summary of the action from the frankfurt stock exchange. >> good news from the american economy that really brought the dax up to speed. it turned around and started gaining and held those until the end. the fact that the german consumer confidence was at a five-year high due to stable incomes and a labor market was not an issue here that really propelled share prices forward. for the week, the picture is different. the dax losing about 2%. people worried about the debt crisis and above all its effect on individual companies, and investors could see what effect that had in many quarterly results that were published this week. next week will be above all the results of the deutsche bank that will play a big role here. >> we stake in frankfurt for a closer look at friday's numbers. the dax finished the week at 7231, up 5.4% on the friday trading session. -- up by more than 0.4% on the friday trading session. the dow jones trading slightly higher at this hour. the euro trading at a value of $1.2936. unemployment in spain had a new high with the jobless rate at just above 25%. >> al

>> because people don't understand how interconnected the chinese and the american economy are in somethe city of toledo, for instance. it would be interesting for people to listen to the mayor of toledo talk about how many thousands of jobs have been created in toledo through chinese/american joint partnerships, joint investments in the toledo area. so what romney is doing here is just the worst kind of pandering saying he would declare them a manipulator. it's ridiculous. the value of the yuan has actually been declining anyway down about 15%. but what it points to is that he's just trying to get the votes of people who don't like china for some reason. he's parading as this pro-business executive who understands the business world. he understands it perfectly well that that is not the way you conduct u.s./chinese relations, to attack them on the first day of his presidency. >> but is it pandering? >> total pander. >> or sticking up for what he believes. >> he doesn't believe that for a nano second, and none of his friends believe it. not a single one of his friends in his crowd at b

. >> reporter: both linked foreign policy to the health of the american economy. >> the budget we are talking about is not reducing the military spending it's maintaining it i think governor romney has not spent enough time looking at how the military works. >> i won't cut the military budget by a trillion dollars the combination of the budget cuts the president has as well as the sequestration cuts. >> reporter: with the economy being the most issue for voters, it's no surprise they weaved domestic policy and the economy into the conversation during the debate on multiple fronts. as to who won this is a cnn orc poll given to debate watchers. you will see 48% say the president obama won and 40% say mitt romney. we have to wait and see if the performances affect the polls in the next week to come. in boca raton, florida, now back to you. >> we are not far away from election day in the baltimore area. state delegates and clergy will gather on the united front. >> they are holding a news conference encouraging marylanders to vote against question 6 and sherrie johnson is here to explain.