but chrystia freeland is spot-on about the rise of the rest, china and india.ut the fact of the matter is we can complain all we want. the saudi prince admitted on television the other day he needs oil to go back down. we're not looking for alternatives. we are spoiled. we are wrapping a rubber band around our arm and pumping crude into it. we are addicted to this. we have to find alternatives and we have to start finding them now. the idea that we can find more oil is the solution, come on, let's be honest with ourselves. >> which is why high gas prices do the job. they spur that innovation. one person who might be happy about gas prices rising is general motors ceo dankerman. ak ackerman said he'd prefer a $1 a gallon gas hike as opposed to tighter regulations. i've said it over and over again. the answer to high gas prices is high gas prices because it causes people to conserve and look for alternatives. i didn't really think i'd have the ceo of gm on my side in this situation. does this makes sense? >> it's clear he means instead of higher fuel economy stan

chrystia freeland, eliot spitzer is the host of cnn's "in the arena." and new to gps, ann coulter is writer and author of the recently released book "demonic." welcome to you all. you'll explain the title later. eliot, let me ask you, is it possible for somebody to enter at this point or is the republican nominee likely to be somebody who is already declared for president? >> well, if you mean technically declared, i include jon huntsman. if you include huntsman among romney, pawlenty and the lesser candidates who i don't think have a real shot at it, santorum, palin, gingrich, i think that is the field. i think that is probably the universe we'll look at. nobody else has either the name recognition. i guess herman cain maybe will make a dent, but nobody else has the capacity to launch a campaign at this point. >> except giuliani. >> perhaps although at the end of the day, i don't think he does. >> so who do you like among these people? >> someone who is not one of those that's named, chris christie. i think he could still jump in after labor day. in fa

. >> and let me bring in chrystia freeland here.c has given president obama low marks on his handling of the economy, less than half of them think he's doing a good job. republicans clearly want to cut spending and republican voters like that in theory. but isn't there a question of whether that can boomerang when you get down to the specifics? >> that is an excellent question. we've already seen a little bit of that when it comes to the medicare and paul ryan budget plan. we saw voters responding in the new york state race very, very aggressively to the idea that, uh-oh, cutting government spending is great as long as it's not spending on programs that i care about. so i think if the democrats are smart, they're going to make that point. i think the other thing is -- >> well, haven't they already made it with medicare, for example? >> yeah, i think they have been. i think they have to do that more aggressively. the other thing is that i think roland made the case for the democrats more effectively than we are hearing this administr

chrystia freeland of thompson reuters and abc's political correspondent, jonathan karl. you all for being here. george, straight to you, you just heard the congressman and senator, and you heard him not answer about the revenue, whether they are on or off the table. so, are they completely off the table, do you think? and what kind of clout does the president have to move this along? >> it doesn't have much clout. what has clout is a deadline. every writer knows a deadline is man's best friend. true for legislators also. the deadline is coming up august 2nd. >> august 2nd? >> on the lash of necessity, something will happen here. >> the problem is, republicans want to shrink the deficit and government as a share of gdp. democrats want to shrink the deficit by increasing the gdp. something has to give. i think you touched about the drama coming. hatch and lee, two senators, have a balanced budget amendment to exceed gdp, raise taxes and raise the debt ceiling. that's a resolution in american government and going to be voted on. because they believe it is easier to get 20 d

paul krugman of the new york times, chrystia freeland of thompson reuters and martin regalia.ou for joining me. you heard the chairman from the council of economic advisers putting on the best face of dismal numbers. what do you think the american people can expect, paul, from now on? >> the trouble is. austan was right to say one month doesn't matter. but 18 months, it's not >> john: rating jobs as population growth. we're in a holding pattern and that's likely to continue. >> does that mean if it's not generating jobs fast enough the economy is not self-sustainably growing? >> i think it's self-sustainably growing, the trouble is, it's not growing in a way that takes up the slack. we're in lost decade territory. those of us who study japan in the '90s, say we're looking awfully japanese right now. >> i think you asked a great question, christiane, when you said, is this a jobless recovery? and -- >> and austan denied it. >> he didn't like to hear that. paul is absolutely right. you need 150,000 jobs a month to just tread water. that's not taking into account all of those mil