i have a question for dean baker. i wonder if he feels part of what he is struggling against to explain some economic issues about stimulus and job creation you're fighting against the american public's lack of understanding about basic economic issues? one of, just an example, talking about the way our currency functions, i mad imagine a lot of people on the conservative side of the ledger still think we live on some kind of gold standard how our currency works. they don't understand how a fiat currency works. they have political discourse where they talk about, we're just printing more money. we're going to print more money like it is the end of the world. that is what the government always does when you have a fiat currency. it printses money. i wonder if you feel like you're struggling against the, you know, the lack of understanding of economic issues to try to explain these positions? >> host: thank you, john. mr. baker. >> guest: i think that is a very, very big issue and, you know, unfortunately i think presid

dean baker, let's go to you for this.i wanted to dig into some of the details of what the republicans are putting forth. this is from the house republican conference, the ideas that they suggest will create jobs. a 25% top tax rate for people and businesses. they want a congressional review of regulations, something house has started doing and will continue to do this fall. they would like to see the columbia, panama and south. trade deals enacted. and also, expand domestic oil drilling and a reaction to what the caller was saying. guest: there are few jobs at stake with this idea of domestic drilling. we're not going to have energy independence. if you drill the oil out of the ground today, it is not there tomorrow. if we are concerned that at some point the bad guys are going to cut us off, the most foolish thing we can do is to drill in out today. why on earth would you rush to drill out? i cannot understand that. of course, there are great environmentalists. those of us who remember the bp spill, we know what those ar

dean baker, let's go to you for this. i wanted to dig into some of the details of what the republicans are putting forth. this is from the house republican conference, the ideas that they suggest will create jobs. a 25% top tax rate for people and businesses. they want a congressional review of regulations, something house has started doing and will continue to do this fall. they would like to see the columbia, panama and south. trade deals enacted. and also, expand domestic oil drilling and a reaction to what the caller was saying. guest: there are few jobs at stake with this idea of domestic drilling. we're not going to have energy independence. in a lot of ways, it goes the opposite direction. if you drill the oil out of the ground today, it is not there tomorrow. if we are concerned that at some point the bad guys are going to cut us off, the most foolish thing we can do is to drill in out today. at the moment, weakened by as much oil as we need to in the world market. -- we can buy as much oil as we need to win the w

class warfare but if you take a look at income inequality here in the us it's exactly what we need dean baker is going to join us for that one then occupy wall street the plan of protest to set up camp and tell the bankers that americans are fed up again this past weekend we're going to report from the protest itself and then we'll ask how long this might last and then the g.i. bill subsidizes college education for veterans and it's been praised throughout the decades but recently it's also become a cash cow for for profit schools we're going to give you all the details on that one have all that and more free tonight including a dose of happy hour but first let's take a look at what the mainstream media has decided to miss. all right so president obama unveiled his deficit reduction plan today now this is what he wants the supercommittee that's been a forum to use as a guiding tool for how he wants the country to tackle the deficit and i'm going to give you all of the details in a moment when we get into our discussion with our guest about it but first i just want to start off with the broad

. >> joining us at our table is dean baker.so joined by james from the heritage foundation. he is a senior policy analyst in the area of labor economics. the first question for each of you, how would you describe what republicans are trying to put forth on jobs? >> we have been hit with this calamity, the housing bubble collapsed, losing $1.20 trillion in annual demand due to consumption driven by the bubble. you have to find some way to counter that. the republicans are saying let's do nothing, have no regulation or taxes and hope that somehow, we will see businesses grow and create jobs. businesses don't work that way. herbert hoover tried this, you have to create demand. >> i think is quite different. the demand stimulus policies just haven't worked. it hasn't worked. when you have to be doing is reducing barriers. you are taking the barriers out there that the government has erected and removing them to you have a better fiscal climate. >> we had those barriers when we have the economy growing 4% a year. those barriers don'

among more topics, dean baker joining us, the co-director of the center for economic and policy research. james sherk with a round table on the republican job proposals. you may have heard about a story with regard to a number of items that come from pharmaceutical companies, they come from overseas. up to 80% of chemicals and other ingredients are made outside the united states. what does this mean for your safety? and then a reporter from "the military times" talking about the cost of military pensions. that is tomorrow at 7:00 a.m. on the "washington journal." thank you for being with us on sunday. enjoy the rest of your weekend and have a great week ahead. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] ♪ >> the ranking democrat of the house, energy, and commerce commission on "newsmakers." and then, "the contenders." a look at the life of james blaine. and cutting taxes and increasing spending. >> i want to begin asking you about the president postponed jobs plan. are you confident that this will create jobs? if so, wh

"washington on gues journal," dean baker and james sherk look at republican congressional initiatives. military times pentagon bureau chief talks about the cost of military retirement programs. "washington journal," live at 7:00 a.m. eastern on c-span. >> the c-span networks, we provide coverage of politics, public affairs, and books. look for funding into november, including four recent natural disasters. follow congressional action as well as presidential candidate as they campaigned across the country. search, watch, and share all of our programs any time with our video library. also keep watch for our digital buses bringing c-span to committees. ♪ ♪ >> spend next weekend in charlotte, north carolina. throughout the weekend, the history and literary life from the side of the 2012 democratic convention. we will visit park road books to learn about relationships between independent bookstores and bookstores. on the american history television, tore james poult's birthplace. -- tour james polk's birthplace. book tv and american history tv, next week and on c-span 2, and c-span 3. the

got something to say i listen now first i would respond to a viewer who watched my interview with dean baker about obama's deficit reduction plan and accusations by republicans that obama is waging class warfare mastermind x. it on you tube class warfare is ok for republicans as long as the rich are winning and you don't see interesting how that works yesterday we told you about the increasing poverty rates in the united states and more than forty six million people now living below the poverty line all that all bank profits of increased since the crash twenty eleven in fact mark the highest quarterly profit by f.d.i.c banks in america since two thousand and seven and so that the figure the richest one percent now owns at least twenty four percent of the entire country's wealth and yet looks like there's been a class war going on it's just the poor who are losing the inequality continues to grow in the united states and poverty reaches new highs you never hear republicans from planning about the class war being waged on the poor do you so i would say that our viewer here is right or publican

really fair to me and let me ask if you can with something that dean baker actually wrote about today he was saying that those people responsible for the financial crisis basically got to tell the story their own way you know if anybody looked at the housing market they could have easily said that there was a massive bubble and you can see not coming from baby around two thousand and two but for some reason these people have also stayed in charge that also continue to go on and speak to the media we can even talk about alan greenspan's of the world they got to tell the story and so it seems like everything was just such a shocker and it was such a complex and complicated system that no one could have seen it coming true i actually think that they could have seen it coming i certainly think they could see the collapse coming they were focused on short term profits of profits in the next three months four months five months but what i thought it was it wasn't clear because c.b.s. . my guess is that they were betting that the aftermath would be just straight out war bill it's no real reg

plan so the new top attitude because we have any chance of getting this are discussing with me is dean baker co-director of the center for economic and policy research team thank you so much for being here and i think for me now you will be with me when i say that suddenly obama he's throwing veto threats out there right we have him coming out and talking about john boehner and saying that his language and his policies that's just not smart i mean he's getting sassy and it seems to me like he's getting tough so i just don't did he finally decide that no more negotiating that's the president we saw all along and i guess he realized that his numbers are plummeting as well as the members of congress after the entire debt fiasco he's finally decided to fight if you get the spine of a cause that i mean if you go back to his job speech a couple weeks ago he was much stronger than i expected i mean you talked about four hundred fifty billion you talk about spending on infrastructure you talk about the state and local governments repairing the schools get a lot of things in there a lot more than i e

we are joined by dean baker and james sher. how would you describe what republicans are trying to put forth on jobs? guest: it is a do nothing position. the housing bubble collapsed. we lost $1.2 trillion in annual demand. you have to find some way to counter that. republicans are saying let's do nothing. let's say we will have no regulation or taxes and hope we will see businesses grow and create jobs. businesses do not work that way. herbert hoover tried it. it does not work. you have to create demand. guest: i think it is quite different. it is a belief that the demand stimulus policies have not worked. you have to be reducing the barriers to success. you are removing the barriers so you have a better business climate. guest: we had those barriers in place in the 1990's when we were creating 3 million jobs a year. those barriers do not prevent the economy from growing and creating jobs. the stimulus is a matter of proportions. it was about $300 billion a year. we were trying to counter dollars and 1.2 trillion in lost demand

. >> tomorrow, dean baker and james from the heritage foundation look at republicans economic and job creation proposals. the director of the prescription project discusses oversight of the pharmaceutical and history and the safety of foreign-made drugs. military time's pentagon chief talks about the cost of military retirement programs. "washington journal" is live at 7:00 eastern on c-span. next come a discussion on u.s. security issues with national security adviser thomas donilon. after that, british counter- terrorism efforts. a house oversight hearing on afghanistan contacting and corruption. >> spent next began in charlotte, north carolina. the history and literary life from the site of the 2012 democratic national convention. charlotte's banking industry. how the south was created in american popular culture. a visit to park road books to learn about the relationship between the independent bookstores and publishers. on american history television, tour jame polk's birthplace. this is where gold was first discovered in america. in charlotte, n.c., next weekend on c-span2 and 3