i beeve we can continuehe greatociety while we fight in vietnam. milita cefs were asking for more money yet president johnson rejected a tax increase. we asked his economic adviser, james duesenberry, why. we had, after all, just gone through a big program of tax reduction, sohaturning around did not appeal to m. t i think a moignificant matter was that it brought the issue of the vietnam war into a very sharp political focus. william mcchesney martin, then chairman of the federal reserve, had very good contacts with the pentagon and through e federal resee system,rs. those directors and anches all around the cou, the informationwas pou, showing that the economy was heating up. to martin, inflationasmoren a s. it was a present reality. to mthe federal reserve board s. decided to fight it. in december 1965, they raised the discount rate. johnson hit the ceiling. he announced publicly he would call bill martin, the chairman of the federal reserve, down to the ranch for a tongue-lashing. but raising the discount rate didn't keep inflation from growing

no sipe would he >>reporter: authorities have now listed they beeve at this point that alexis was thenly suspect involved. some of the time they were searching for potential second shooter. >> we obtained some nims of the diseased michael arnold sylvia frasier, katie guard john roger johnson. frank koehler. dennis prosper and if vish bap did it some of the names we have tonight. from 46 to 73 average in age. no victim is military personnel. rest of the names pending notification of next of kin. all inspect victims of someone who went on central shooting rampage today. >> well something that we have never seen before is happening off the coast of the italy where the i tall i don't know ship has been ship wrecked for then most. this is the scene tonight on the italian coast with delicate task of moving the giant ship. fichlt the 9 fwoo feet long and weighing more than 1 houses,000 pounds about the same as 10 i've el tower they began the l khaeng of lifting the ship from the water grave. all day today we have been walking them slowly about lift this hull that weighs 100,000 pounds and be

sometimes our democratic process affords folks who have serious beeves with piecing of legislation to. that's a good thing. >> as soon as i said it, within hours, news sites and blogs were all over the clear double standard. now i'm flattered but this news is hardly flattering or inspiring. let me continue it. e e main stream media at its best or worst. i wasn't here or in washington to judge what senator cruz was going on about just the right he had e to go on and on about it. it's a right for politicians to vent whether over the health care law or an abortion bill a senator doesn'tlike. i'm not here to compare issues or look at their issues. here's where it gets weird. senator davis made her a darling. senator cruz's made him pay d difas in the media. cruz, who doomed chances of being a president. davis was fighting just as much a liesing cause e effacing a governor who wouldn't bend. not much different if you think about it than cruise up against the democratic senate and democrat president who wouldn't relent. the main stream media doesn't know jack, you know what. incredible. her

them that th can get a nutritious, coolcold drink fruits.eblnd bui'm gonna tell you -- wah anof gs beeve hot sp insi thi healthmaster. >> no. >> what do you mean "no"? >> no. come on, man. are you kidding me? >> here's the thing. cooking kills. when you cook your vegetables, you boil them. you boil the nutrition outf your celery, out of your carrots. you nt to get the nutrion, enzymes anthe tamins.gethe so i'm gonna throw in some beautiful vine-ripened tomatoes, a whole potato -- just pop it rit in there. >> you got to tell them a little ece, becau as u bo things, you kill the phytonutrients. you kill all the enzymes. it makes it more difficult for you to absorb. this way, we're just spinninit because this thing's 3,000 rpm. >> now this is the genius. you set it for eight minutes. you can set it and stay and away and do the other thingslk that you need. but t, simmering soup in eight minutes. [ whirring ] hello? and that's the "wow." that is the most amazing thing about the healthmaer is that you can make hot, simmering soup, nutritious and delicious. how's it tasting? >> you're t just s

and frankly i suspect the wld beeve like the senate to go on record to voting fund obamacare rather thanat that is of particular ierest to reblans because it will compel democratic senators in clseacesa yar to cast a vote they will not be comfortable with th is the political game. i think what happened last week onebt sea something interesting. house speakeroehner, his lieutenants, managed to shift the goal of debt ceiling exnsion from defunding obamacare which is not particularly pop even with voters who like the law to delaying its implemention for a year. that may be a more politically difficul thingor democrats to oppose. we're not trying to kl it. trying t delay it. that is more subtle target. i don't think it will work. when you startlang that sort of game on debt ceiling you're in more dangero territory. the country could absorb a shutdown of government couple days, defaulting on debt is serious business. tracy: you'rebsoluty right. goes to your point about votes and pushing off to next year, right? they want to go on record to say don't like this. if they push it off till next ye

it's for cases where they beev the liquidity -- but they can only extend noun an institution they find to be solven't. so that's a very important piece of it. so u right. it's been abolished. but here is the other factor. if a large institution now cannot pay its debts or if the money markets funds, there is an alternative pot of money. that pot of money is the power of the secretary of the treasury, well, the secretary of the treasury is empowered to pay off some debts, put some none if he thinks that's necessary to prevent meltdown. but he is mandated under bill to then recover every dollar from an aacceptsment that he is authorized to assess on financial institutions of $50 billion of assets or more with a form la that basically says to the sense that you're -- to derivatives -- >> i wanted to go to this -- this is title the ii, is that right >> and one other point, the secretary of the treasury does have to sign off and some of the financial people from harvard law school is worried the secretary of the treasury would veto that, i think that's wholly unrealistic. the good relation