know the gotten out of balance here over the last thirty years you're on the president's council of economic advisors. why is he not talking like this but we tried to get him to talk about jobs because i mean the only thing that's on most people's mind right now is the economy and. i mean you could talk about all the fruit all around the edge but it's about economy and it's about creating jobs he got on that message for a labor day we should have been on that message or the ad and it's not just and i don't mean this just as like a knock on president obama i mean the democratic party as a whole there's a there's a few actually bernie sanders probably the best kind as to. because he's an event caucuses with a down supply i think they've had a fairly good program recently to talk about jobs and pushing jobs and saying how they're going to defend jobs but what we have to do for the american public said there's two people six this creates jobs and here's how this doesn't create jobs and here's why and then let them pick because i think they're going to pick job creation every time today on my radio show t

and matthew slaughter, who served on the council of economic advisors under george w. bush. now associate dean at the tuck school of business at dartmouth. matthew slaughter, since this was so unusual i'll reverse the normal newshour approach and reduce appearances first. why is bernanke doing a press conference and who do you see him speaking to? >> i think the chairman connected to the press conference for two reasons. one is historically if you look at his academic work a lot of research had shown the value of transparency for central banks and the second is in the wake of the financial crisis and the ongoing sluggish recovery, i think he feel it is need to try to speak to different audiences that are concerned about how u.s. monetary policy is being conducted so today he was speak to business and finance leaders. he was speaking to policymakers, but at least as importantly, i think the third group he was speaking to american workers and their families to talk about the concerns that they have about the recovery. >> lehrer: joseph stiglitz, what do you see? why is he doin

american enterprise institute and formerly was senior advisor to the house ways and men's committee as well as on the staff of the president's council of economics. we'll start with a round of questions and i like to not spend all of our time in the past and think about one obvious comparison of today to 1995 when republicans had taken a majority, faced a democratic president and had, at that time, an actual budget showdown as we certainly face a potential one today and i thought i might start with janet who let her set the stage of 1995. paint a big picture of what had been happening and ultimately how we got to the end of 1959 when the big budget showdown came through. give us a picture where we were in 1995. >> yeah. in 1995, you have to remember that, 1994 elections weren't a, just any old handover of power from one party to another. we've seen a lot of those over the last 16 years since then but that was like the first time in 40 years that the house had done out of democrat hands. it was a really big deal. the senate had flipped once independently of the house but so, not only was it the entire congress but it was the house for the very f