governor bullock, governor herbert, governor walker, thank you so much, and we also have governor beebe and governor dayton, who has already left, so thank you for your service on the executive committee. once again, thank you to governor haslam and his team, your staff. i know it is not only you and christie by your staff that have worked very, very hard to make this possible and all of the tennessee hosts and sponsors as well as all of the people that are in the rooms today as our corporate sponsors. i also want to thank the nga staff members because it takes a tremendous amount of work you put on his conferences, and there are many of them across the nation, not only our summer meeting, our winter meeting, but also the congress as we have on health care, transportation, homeland security, education -- you name it. cyber security. they do work all year round and provide great seminars for our staff. i also want to recognize our great team with the nga, and there are a lot of people, but i want to start out with the top executive leadership. dan, thank you for being our executive direc

if we'd actually being intelligent beings are going to learn from what we've been through with the beeb icing on models on minsky now the trouble is because we've got through the crosses a largely because of that government rescue they're going back into the old conventional ways of thinking again is a nothing even happened. now my colleague ed harrison has been arguing that monetary policy is wholly inadequate as a vehicle for cyclical steering of the macro economy now he says that's because it works through a credit channels and by nature it creates this risk of financial instability what's your view on this whole i agree with completely that the fiscal side of the economy is what matters and again this is where we're stuck with the impact of this conventional mainstream economic thinking dynamics to cast a generally clear equilibrium models only have a role for monetary policy the the the magic wall that's built into those models is a god given that the federal reserve can work out what the optimal interest rate should be and put the interest right opera twice as fast as inflation is

governor beebe and governor dayton who were not able to join us are also on the executive committee, too, so we appreciate them. i think i got everybody. didn't miss anybody, did i? good. well, thank you very much.ve i thought you might find it interesting, but we're very ver grateful that the vice president came yesterday to talk to us about work force training and skills, and the importance to america. but we've been reading through the press clips this morning,e and the you didn't know how important governors are getting us back on track, fun to read the vice president's headlines. i'll share a couple with you this morning. biden bemoans bitterness in d.cn we heard that yesterday. that was a lot of fun. fun one says biden calls upon the nation's governors to help endn' the er' of poisonous politics. calls upon the governors to help with that which we are grateful to.ful. here's another one, vice president biden ask governors' help during nashville trip, oncen again calling upon thece a governors. let's see, i've got one more here. biden calls upon governors to lead the nation.like

governor bullock, governor herbert, governor walker, thank you so much, and we also have governor beebe and governor dayton, who has already left, so thank you for your service on the executive committee. once again, thank you to governor haslam and his team, your staff. i know it is not only you and christie by your staff that have worked very, very hard to make this possible and all of the tennessee hosts and sponsors as well as all of the people that are in the rooms today as our corporate sponsors. i also want to thank the nga staff members because it takes a tremendous amount of work you put on his conferences, and there are many of them across the nation, not only our summer meeting, our winter meeting, but also the congress as we have on health care, transportation, homeland security, education -- you name it. cyber security. they do work all year round and provide great seminars for our staff. i also want to recognize our great team with the nga, and there are a lot of people, but i want to start out with the top executive leadership. dan, thank you for being our executive direc

i'm going to start with a couple of them weren't able to join us here today, but governor beebe of arkansas. certainly wish him the very progress. governor patrick of massachusetts, both of served on the nga executive committee, and governor perry of texas also will not be with us if they are all turning out so we wish them the very best of luck and we appreciate their service to the national governors association. let's give them a hand. [applause] >> now it gets to the hard part, and that is saying farewell to those that are here right now. and i'll start out by my good friend, a lady that i've worked with for many, many years, governor jan brewer of arizona. governor, it's hard to believe, time has passed but governor brewer has been governor since 2009. soon after taking office she took control of the state budget and crisis. she exhibited great leadership and willingness to make tough decisions and to make government more effective. governor brewer has served as chair of the nga special committee on domestic and spices eight and was appointed by president obama to serve on the council

beebe just marked down their sales by 50%. what is the hot item you recommend buying right now?ank tops. >> reporter: on friday look for deals on accessories. during the weekend most have lower gas prices according to gasp buddy and on sundays you can find great bargains on paige appliances. july is also a good month to purchase new furniture with retailers clearing out old inventory. >> you can save big, sometimes 60%. >> reporter:' ya suggests waiting to buy school supplies. >> retailers begin marking down items in july but if you hold off until august that's when you see a bigger discount. >> reporter: for "good morning america," brandi hitt, abc news, los angeles. >> some great information there. and coming up, keith urban rocks our party in the park live. plus, a couple of special guests in central park. don't go anywhere. >> breaking news at 8:27 chopper 6 just arrived live over an accident involving three vehicles along the new jersey turnpike. it happened in the southbound lanes in east windsor, mercer county. authorities say it does not involved any serious injuries, bu

governor bullock, governor herbert, governor walker, thank you so much, and we also have governor beebe and governor dayton, who has already left, so thank you for your service on the executive committee. once again, thank you to governor haslam and his team, your staff. i know it is not only you and christie by your staff that have worked very, very hard to make this possible and all of the tennessee hosts and sponsors as well as all of the people that are in the rooms today as our corporate sponsors. i also want to thank the nga staff members because it takes a tremendous amount of work you put on his conferences, and there are many of them across the nation, not only our summer meeting, our winter meeting, but also the congress as we have on health care, transportation, homeland security, education -- you name it. cyber security. they do work all year round and provide great seminars for our staff. i also want to recognize our great team with the nga, and there are a lot of people, but i want to start out with the top executive leadership. dan, thank you for being our executive direc