definition, you don't have to look at the cato institute or kato foundation or anything else. take my word for it. it failed based on what they said it was going to do. fast forward to june of 2010, which the white house trumpeted as the summer of recovery. and they put out fact sheets every day. administration officials traveling here and there making the case that everything was going to to be so much better because now the money was really starting it flow. took a while because things were starting to flow exponentially more projects and more money. this would lead to immediate rove. we recovery. we saw unemployment was -- they continued to says it was going to jump start the economy. but the most important number i think is to look at what the -- what the unemployment rate would be today if the labor force participation rate were the same today that it was then. and the unemployment rate today would be 10.8%. that is not a success no matter how the white house tries to spin it. >> dan pfeiffer today,

roger with the cato institute. and your essay is available on line at cato.org. thank you very much for being with us. and simon louisiana russ with he cons last russ. u.s. constitution.org. thank you very much. after that, we will talk about some of the ideas republicans are offering as alternatives to the health care law. program, ain the discussion about how nuclear weapons and materials are secured. by williamined tobey, the former deputy administrator for the national security administration. also take your calls and share your comments by e-mail, twitter, and facebook to getting live at 7:00 a.m. eastern on c- span. >> c-span, we bring public affair event directly to you. putting you in the room at congressional hearings, white house events, briefing and conferences, and offering complete gavel-to-gavel coverage of the house. the cable tvd by industry 35 years ago and funded by your local cable or satellite provider. what is in hd. like us on facebook or a us on twitter. q&a with robert dallek. then british prime minister's questions with david cameron foll

a warm welcome to the cato institute. i'm a policy at cato global liberty and prosperity. i'll be moderating this forrum today. let focus on the new book "undercover economist ." as many of you probably know, he's a fellow here at cato. actually he was here just last night talking about his new book. and it happens -- i was amused to see that the u.s. featured in tim's book as well. economists are wrong about generally. [laughter] jokes aside. i don't think it does justice to the economic profession. i think in micro, as least, there's a rare established set of tools and models and methods. most academics agree. the social sciences of rigorously of settling this agreement. there is certainly some scope for rigorous con conclusive. but each situation is different among macroeconomics. an economist at -- [inaudible] mick cro is one true theory while microis no true theory with idea of opinions. i think that is the fair assessment. just think about basic socially relevant policy questions like, you know, the obama stimulus, the american recovery investment act of 2009 increas

joining us for our conversations rogereelon with the cato institute.e lazarus constitutional accountability center. appreciate you being with us. this is how the "christian science monitor" poses the question -- guest: i expect one could say that it is both. it is very much overreach in my mind. be sure that, to be sure, the president has certain authority to take care that the laws are faithfully executed. he is pressing that discretion right to the limit. we are talking here not so much about executive orders because most of what he has done lately has not been through executive order but it has been through rules and regulations through his agencies. , in the caseity, of the affordable care act, for example, he has been on a tear to essentially rewrite the law in many respects. it is as if congress issued a statute that said this is advisory now fill in the blanks and that's what has so many people upset today. host: article two, section one of the constitution states the following -- the executive power shall be vested in the president of united st

libertarian cato institute thinks concerns ant the economic impact of the law may be overblown. >> well, it will create economic activity for lawyers, that's to be sure. but we'll just have to wait and see whether nationally economic actors will take it out on the state of arizona as a whole. >> reporter: the last time an arizona law triggered this kind of controversy, immigration reform four years ago, the state dropped to 16th place from seventh in an annual cnbc ranking for business friendliness. governor brewer has until the end of the week to decide if this law is worth the risk. scott cohn, "nightly business report." >>> and add to the list of the big businesses against this legislation, intel late this afternoon it also called for veto of the legislation. >>> shares of intermune more than doubled on news its lung drug succeeded in a late stage trial. that's where we begin tonight's market focus. the drug which treats a fatal lung disease slowed lung deterioration in the study, spurring hopes thought might be close to fda approval. the stock surged 170% today to $37.80. linkedin i

coming up the economist and senior fellow at the cato institute george celgene discusses inflation and deflation in all their forms that in today's big deal ed harris and i are talking about the big drama surrounding one of because most respected exchanges but as we head to a quick break here's a look at some of today's closing numbers at the bell sticker out. crosstalk rules in effect that means you can jump in anytime you want. there's a saying you know when you're in the arctic you have the entire world at your feet she looks like a fairly simple ship but really she's not symbol of the go here and full of people able to have access to the nuclear icebreakers the real king here is that the polar bear and ice breakers come second not a single complex expedition to the arctic can be conducted with the russian nuclear powered fleet of ice breakers we've undertaken a unique operation in. the northern sea route russia's arctic ice breakers. i was in bed with it and i think a society that case i think corporation kind of convinced that to consume cars can do i feel bad for trying to get al

george celdran professor of economics at the university of georgia and a senior fellow at the cato institute and i asked him what his thoughts were on the inflexibility of the gold standard specifically in relation to its contribution to debt deflation of the one nine hundred thirty s. here's what he had to say. that is a very oversimplified perspective on what happened in the thirty's to put it mildly the true story is far more complicated the old gold standard which was in place in the decades prior to the outbreak of world war two the classical gold standard didn't create that deflation problems although there were of course debtors who wish there had been more inflation them there actually was under that regime they always do it doesn't follow that the regime actually created the none healthy rate of deflation for the most part it didn't now with world war one basically the old classical gold standard broke down and after the war there were attempts to cobble it together that invoked some let's say short cuts being implemented or special arrangements being made to try to economize on gol

coming up the economist and senior fellow at the cato institute george celdran discusses inflation and deflation in all their forms and that in today's big deal ed harris and i are talking about the big drama surrounding one of bequests most respected exchanges but as we head to a quick break here's a look at some of today's closing numbers at the bell sticker out. of. a. very hard to take a. look. at that back with that hurt right there no. please. please. please. please. the. right. first right. and i would think. on our reporters. in two thousand and two ben bernanke he was worried about deflation at that time he gave his most famous speech to date on how to prevent a japanese style deflation from hitting the us now bernanke he's views helped convince the central bank to keep the fed funds rate at a record low one percent in two thousand and three and two thousand and four before the fed had to raise them due to an overheated housing market now fast forward to today and we have a new fed chair janet yellen but the deflation question is being asked again now our next guest george cel

coming up the economist and senior fellow at the cato institute george discusses inflation and deflation in all their forms that in today's big deal ed harris and i are talking about the big drama surrounding want to because most respected exchanges but as we head to a quick break here's a look at some of today's closing numbers a bell sticker out. of the. economic downturn in the final. day that the deal sank i and the rest because i saw you meet makes you believe it's really the ultimate. power little. the. it was a little very hard to take a. long. long time he ever had sex with her right there. please. please please. please. please. please. please. the. there's a game we like to play you see a game with bells and a sovereign say it's a me too about that puts me on my knees you call it master and servant we call alex and somebody with this sort of independence needs servitude alex why be another nation on the chain gang when you can be the first on the block. in two thousand and two ben bernanke he was worried about deflation at that time he gave his most famous speech to date on how

they've even been likened to mussolini's blackshirts by forbes magazine and boy somebody from the cato institute which is hardly a sort of busty and a sort of radical left wing for so they're kind of to see them a slew of radicals in terms of changing something no they want to kind of keep things as they are all they talk of reform but when you actually look at the reforms they don't actually have any plan of reform it's more they want to establish the status quo so the rule people who are trying to bring about radical change with time and sort of relevance in a sense was relevant to thailand would be the red shirts all that sort who say we must accept political royds. so the elisha's getting more extreme but the rules extreme they were always very very extreme they were violent and we've had over the been linked to the our stocks. they linked to very very wealthy families and the soil means a billionaire families should be appearing on stage and saying poor people shouldn't have the right to vote when it. aristocracy versus poor people yes ok now that seems like a recurring theme around the wor

coming up economist and senior fellow at the cato institute george elgin discusses inflation and deflation in all their forms that in today's big deal ed harris and i are talking about the big drama surrounding one of declines most respected exchanges but as we head to a quick break here's a look at some of today's closing numbers the bell stick around. but look. over. did you know the price is the only industry specifically mentioned in the constitution and. that's because a free and open process is critical to our democracy which albus. role. in fact the single biggest threat facing our nation today is the corporate excellent work of our government and across several we've been hijacked lying handful of transnational corporations that will profit by destroying what our founding fathers once told us about my job market and on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem trying to fix rational debate and a real discussion of critical issues facing america to find her job ready to join the movement then walk away from the

get it from the cato institute, cato.org on the web, they charge you five bucks for them, and we give. question two, the constitutiin was prepared in secret behind closed doors guarded by enturies. is that true? who thinks it's true this is true. to learn more, we turn to someone who kos, tim, author of the conscious of the constitution. you went to a college where there wacontempt for this. some white men, some slave holders, why should this be so important today? >> well, the constitution of the united states is a promise about how government power will be used, and it's a promise that was left tous by a generation who lived under tyrannil government and needed a frame work to preserve the blessings @% liberty for posterity, and we have to be grateful for that. john: but it's not relevant today. >> it's true, but the constitution's promise has been broken time and time again by our government, but we are very fortunate we can at least point to it and say this is what the frame work of our government was designed to d. secure the blessings of liberty. that's the most iportant part? >

this comes from the cato institute that has a sleek but obviously. if you think about it the industry with 2.$7 trillion that is a low rate of taxation but i would argue it is more in the nature of the investment of the attack it is what makes it possible. but this view has been pervasive if you look historically teddy roosevelt first raised the issue of the universal national coverage plan to did not succeed. then someone else picked up the call it is hard to read but from the left is the push back to talk about the social attempt to take over our health care system. so familiar 100 years later. in the 40's truman proposed a similar plan. that was called socialized medicine and if you can see the beer unit -- the puppeteer is described as, biggest tuned in the '60s with medicare was proposed the actor at the time who may look familiar proposal was socialized medicine needed not only to a socialized health care system but the entire soviet-style economy. then with the affordable care act you off my health care, he and software of medicare government

industry -- cato institute. after that, a look at what young voters thought of present obama's recent state of the unit and address any issues they consider most important in 2014. matthew segal of the nonprofit organization ourtime will join us. we will look for your calls and take your comments by imo, twitter, and facebook beginning live at 7:00 a.m. eastern on c- span. >> he was someone, as i say, who grew in the office. the cubanly burned by bay pig experience. he had listened to the experts, cia, might chief of staff, and -- het to see the goal went to see de gaulle in france, and de gaulle said you should surround yourself with the smartest possible people to listen to what they have to say, but at the end of the day, you have to make up your own mind, and he, kennedy another said,at the buck stops here. he wanted to hear what these experts had to say, way what they were telling him, but at the end of the day, he was going to make the judgment, and he was the responsible party, and you see that, that was

. -- austrian and in the cato institute i'm wondering as part of your plural itch in the book do you discuss austrian business cycle theory. and if so in a sentence or two, what do you think about it. call adapt which is about -- in economies and why they're important and what stands in their way. where i think he was particularly exciting and adapt -- it's interesting. there are a lot of people who might call foul weather austrian . the financial system being over expansion or expansion their. in the standard austrian view, it's the you have a simple mechanism the government -- the federal reserve lowering interest rates. that's the expansion their aspect. but through technology and innovation and financial innovations. starts to put out a lot more credit, you know, on the basis of the same money supply you gate vast expansion in credit. and you get automatic of these house building and so forth. that can later turn out to be infeasible. the public doesn't really want all the houses or, you know, you get the collapses and things like that. larry summers talked about this. paul talke

john: when you say all these peopll applying, you have the cato institute chart that shows the moneyconomy gets better and then it goes down. it barely went down in the 80's and the economy improved. basically it is going steadily up. >> we have had a liberalization ineligibility going back to the 1980's it is showing up now. for parents trying to get there kids on psychotropic medications and the hopes that they will increase their odds of qualifying for a check. it goes to dad and mom. john: your neighbor gets sick and you start to feel like a sucker. >> the message being sent to my and disabled. as they become adultt, the first thing they're being taught is don't work. disadvantaged or they are or are not. john: disabled used to mean paralyzed. a severe injury. now it means what? depression, back pain. >> is like any other government program. you start off with good intentions and it becomes something it was never supposed to be. the original disability insurance program was supposed to benefit those ages 50 to 64 as basically a transition into regular retirement. since the 1980's

the cato institute, i got a quote from their director of policy who with, basically, essentially calls called it the federal sugar program is central planning, perhaps the most soviet farming prom of all -- program of all. fortunately for you, sugar isn't your biggest ip ingredient. >> obviously, sugar is a big part of it, but we have many other ingredients, and it's a whole process that goes into making our chocolate. >> reporter: take a look at this young lady. see this, it i says hot seat. that is because on valentine's day you can imagine this young lady is in the hot seat. she's creating all, and the people that you've seen work here, they're all artists. so that's the secret, i guess, or zahn that, is make it more about the artistry as opposed to the raw materials if you're dealing with sugar. sandra: the right place, jeff flocking for valentine's day. those just look delicious. [laughter] >> reporter: i love it. yours is on the way, don't worry. sandra: oh, thank you, jeff. have a wonderful valentine's day. well, stocks and gold are on a roll today wiih investors betting that ec

discuss this a little more with mark calabria, director of financial regulations studies at the cato institute and edward pinto from american enterprise institute's international center on housing risk. guys, if indeed subprime is back, what does it mean, mr. pinto, for us taxpayers? >> i think you need to realize two immutable laws of lending. lenders will lend as long as there is somebody willing to buy that loan or guarantee it. second, politics will always act to weaken lending standards over time. you are seeing both in action here. all these loans will be guaranteed by fha and securitized with a guarantee from ginnie mae so you have the first thing in place, the loans will be guaranteed by the government. secondly, you have the government saying we want you to do this lending down to hud would prefer they go down to 580 but in this case, they went to 600. these loans between 580 and 600 have about a one in three chance of foreclosing under stress, a stress event like we just went through in 2007. why? they have downpayments that round to zero, very high debt ratios and of course, the cre

joining us for our conversation is roger, who is with the cato institute. thanks for being with us. >> you're welcome. >> and simon lazarus, who is with the constitutional accountability center. thanks for being with us. this is how the christian science monitor poses the question. as the president taps powers to bypass a gridlocked congress, is that dangerous overreach or effective governing? how do you answer that? >> i expect that it's both. to my mind, however, it is very much overreach. to be sure the president has a certain discretion with respect to his authority to take care that the laws be faithfully executed, but he is pressing that discretion right to the limit. and we're talking here not so much about executive orders, because most of what he's done, especially lately, hasn't been through executive order, but it's been through rules and regulations, through his agencies and in that capacity, he has, in the case of the affordable care act, obamacare, for example, been on a tear to essentially rewrite the law in many respects. it is as if congres

still, the libertarian cato institute since all this competitiveness talk in connection with the billis overblown. >> it is not an invitation to discriminate. it's a way of reinforcing that religious liberty is an important value just like equality under the law is an important value. >> today, governor brewer is on her way back from arizona from the national governors association meetings in d.c. she has until friday night/saturday morning to make a decision. as we said, nbc news is saying based on people that are familiar with her thinking that she's leaning toward vetoing it but a lot could change between now and then, including voices at home when she gets there. >> no other state actually has this kind of law in effect. >> well, actually, this state in a lot of ways mirrors the federal law and there are states that are looking at updating their laws because of the move towards same sex marriages, to try and give some stability to all of this. so this could be a sign of things to come. >> scott, thank you very much. >>> all right. still ahead, what might just be the biggest threat

we want to bring in our leadership's todd sears and the cato institute's elliott shapiro.oining us on this topic. todd, economically speaking, business-wise, is this very damaging whether the bill gets signed or not? >> absolutely. the fact that she didn't veto it immediately sends a really strong message to business that discrimination is actually okay or something to even be considered in arizona. it's one more black mark, whether it was arizona considering martin luther king day in the '90s or immigration in the 2000s and now lgbt is one more black mark. the businesses, whether they're thinking about coming to arizona or are already in arizona are going to have to consider. >> you know, there are constitutional and state issues here at work, right? in no way it cato saying the law is right or wrong but your point is this is in some ways arizona's attempt to get in line with more of a federal stance, is it not? >> that's right. the federal religious freedom restoration act which passed congress unanimously about 20 years ago has the equivalence in various states around t

you mentioned lionel robbins was somewhat of a friend and we are in the cato institute. i'm wondering as part of your pluralism, in the book you discuss austrian business cycle theory and if so, in a sentence or two what do you think about it and what do you say about it? >> as a pluralist it's a shame i did not discuss the theory. i do talk about hayek a great deal in an earlier book called adapt which is about crises in economies and why they are important and what stands in their way and hayek is something of a hero in their so i will let alex give a good account of the austrian business cycle theory because he is the expert on this but if you want to find out where i think hayek was particularly exciting my early book adapters the one to read. >> yeah, it's interesting there are a lot of people who might call foul weather austrians when the economy looks bad they are turning to austrians. call -- paul krugman is famous for having a critique about austrian economics during the good times but during the bad times suddenly there is a lot of things he says that sound an

the hoover institution, the heritage foundation, the cato institute, the mercada center, just to name a few. the purpose of this network, to quote the report is, and i will quote, a deliberate and organized effort to misdirect the public discussion and distort the public's understanding of climate. to misdirect and distort. the coordinated tactics of this network, the report shows, and i will quote again, span a wide range of activities including political lobbying, contributions to political candidates and a large number of communication and media efforts that aim at undermining climate science. that is the beast. and big money flows through it. more than half a billion dollars. the direction he will university -- the drexel university report chronicles that from 2003-2010, 140 foundations made grants totaling $558 million to 91 organizations that actively oppose climate action. it looks like a big beast to build just to propagate climate denial. but if you look at carbon emissions from fossil fuels, which in 2011 e.p.a. estimated to be over 5.6 billion metric tons of carbon dioxide.

mark calabria is director of financial regulation studies at the cato institute. prior to his senior at cato he spent six years as professional staff on the senate banking committee. regrettably, again, not as prestigious as the house financial services committee. dr. calabria holds a ph.d in economics from george mason. after mccloskey is the program director of economic policy at the american enterprise institute before joining aei she was director of research for the financial services roundtable. she did a tour of duty on the hill, regrettably yet again, on the other side of the capital. she received her bachelor's degree from wheaton college at last but not least, dr. donald kohn is a senior fellow and economic studies at the brookings institution. dr. kohn also serves on the advisory committee of the office of financial research, he bravely served as the vice chair of the fed board of governors from 2006-2010, and we're beginning to wonder if all former chairman and vice chairman of the fed end up at brookings. dr. koh held a ph.d in economics from the univer

that is every single study from the brookings institute to the cato institute says that stadium fundings not good economics. if you flew a plane over new york city and dropped $1 billion on the street and people could pick up the money and spend it in local stores that would do better for the local economy than building a stadium. >> so, there are so many levels of this, right? one is the question of stadiums and the infrastructure and the ways that may actually maybe suck more than it gives back. the question of the inequality from the commissioners at the top to league minimum for risking all kind of injury. but also a great privilege to play this game. a game that people love and to make a better salary than most ordinary folks make in the context of their lives. how do we balance those things and wanting to talk about the unfairness and inequality. hey, this is a game and a sport and a job that i love that is pretty well paid. >> as a player, you're so oblivious to all these other numbers and stats and the economy of the game and who benefits. one thing that was compelling to me is

our guests are lori wallach, a public citizen, and daniel ikenson of the cato institute. boren of that, david the university of oklahoma discusses education and budget cuts. we will take your comments on facebook and twitter. ♪ >> on capitol hill this morning, a house oversight and government a hearing onold the irs targeting specific groups. look for our coverage on c-span.org. join the conversation on twitter with the #cspanchat. decision to stop selling cigarettes at their stores is making headlines this morning. it

groups say the law and all its controversy would hurt the state competitively, but the libertarian cato institutes that concern may be overblown. >> it is not an invitation to discrimina discriminate. it's a way of reinforcing that religious liberty is an important value just like equality under the law is an important value. >> nbc news citing people familiar with governor brewer's thinking says she's leaning toward vetoing the bill, but she has until the end of friday to decide. officially, she says she hasn't decided yet. >> scott, the clock is ticking. thank you so much. with us now is david lenhart, the ceo of pets mart which is headquartered in phoenix, arizona. david, it's great to see you. what would you like to see the governor do here? >> great to see you, kelly, and thanks. this is an important topic. we absolutely would like to see the governor veto this bill. we think it's bad for arizona business. we think it's bad for the people of arizona. >> david, do you think arizona more broadly is becoming toxic to business? >> you know, we're a hometown company here in arizona. we've been he

to bring in bill poole, he's here with us for a treat at post nine and senior fellow with the cato institutep in testimony two weeks and within that two weeks the data turned softer. do you expect her to deviate at all from the message? >> unusual to have a winter snowstorm like that, too, and that's what did the job, the gap. i think the fed should emphasize over and over again that it cannot make policy on the basis of the short-term wiggles in the data. the data get revised. they're due to weather. i think the biggest issue we have right now is the effect of the affordable care act on employment. and that's not anything that the fed can offset. fed can't fix that. the fed can simply try to understand its impact, but the fed can't fix the affordable care act. >> steve, i mean, to that point, obviously the politics are at play here. you have republican senators, democratic senators. what do you think the republicans are going to ask her most about? you think they're interested in the impact of the affordable care act or perhaps on the negative impact of quantitative easing? >> i think all o

cato in 1864. he was born free. daily the south american new jersey. is raised in philadelphia. he's a teacher who works at schools, institute of colleges in philadelphia. he taught math, taught english, latin, greek. and one day is walking home and, of course, this is the city of brotherly love. african-americans cannot get on the streetcars and he is tired. so like rosa parks, he just gets on the streetcar. he has a coin and the driver tells him to get off and kate oh -- cato is not going to get off. he takes the horses back to the barn, comes back tomorrow morning and he will become. he comes back and exmoor, ted oasis of either holding his going and entire carriage itself up with black philadelphians. they are holding their coin and they're ready for the right. and they win. the city backs down and integrates the streetcars. that should have happy endings with incomes election day, 1871. and cato was assassinated by a white democrat on election day in front of hundreds of people. and, of course, the all white jury finds him not guilty. strange enough, as cato is lying on the sidewalk dying, pulling up next to him is an i