changing statistics all the way back to one nine hundred twenty nine and according to the department of commerce business investment now includes research and development this makes the united states the only country in the world that includes r. and d. in g.d.p. some say r. and d. should not be counted as an investment but as an expense because not all projects go on to become successful for example the developing cost for a new television show is now counted as an investment because it could have long term revenue and this is where the card actually has come in reality t.v. is not included because it is not meet the three qualities ownership rights long life and repeated use however a show like seinfeld is because even after its initial viewing it could have additional streaming online sales and d.v.d. sales even writing a book or a greeting card could be included in r. and d. because it's considered creating content that can have an investment in the future now the next category of g.d.p. is government spending which makes up about nineteen percent of our economy government spending is down as the seq

of that. >> that's are entrepreneurial people who open businesses when they can't find work, who will do economic expansion. what this congress has done for the department of commercelly cut the money that they've used in the past to encourage small businesses. look at the increase in minority businesses. still too few an increase, but an increase again because an unfriendly labor market, people are likely to go out and do their own thing. if congress -- never mind. i was going to say if they had a speck of sense. but never mind. but if they were looking at the economic trends in our nation, they'd be much more responsive. >> and respectful perhaps, as well. we, unfortunately, have to leave it there. a very lively discussion on a very hot topic. mark morial, dr. julian malvo and vanessa bush, thank you all for joining me. >>> coming up, we are live in caress accident city and city and mogul's melissa harris perry and julia reid join us here at the essence festival just ahead. ♪ for a strong bag that grips the can... get glad forceflex. small change, big difference. >>> mark twain once wrote, new orleans' food is as delicious as the less criminal forms of sin. we wi

of last 20 days. >>> durable goods orders rose in june driven by surge in aircraft demand and business spending. the commerce departmentis increased 4.2% following a 5.2% increase in may. >>> number of americans filing new applications for unemployment benefits rose slightly last week climbing 7,000 to seasonally adjusted 343,000. analysts expected claims to rise by 6,000. >>> well the government dramatically raises stakes in the legal battle against sac capital filing criminal charges and widening the civil case. what does it mean for the company and how will it impact founder steve cohen who was not personally criminally indicted today? joining us by phone, former sec chairman harvey pitt and leonard. good to see you both or talk to you, harvey. i want to get a clarification here. how could there be a criminal indictment of a company that is wholly owned and founded by one individual and the individual himself is not indicted? >> well the company is comprised not just of the owner but of the employees and what the government is alleging here that insider trading was so rampant throughout the company over such a long

of which will work more than 28 hours per week. like i said, this is happening everywhere. it's stupid. according to a survey contacted by the u.s. department -- u.s. chamber of commerce, 71% of small businesses say that the president's health law makes it harder to hire new employees. and amongst small businesses that will be impacted by obama care's employer mandate, 50% say that they will either have to cut the hours of workers currently employed full time or replace their full-time employees with part-timers in order to avoid this vicious mandate. but it's not just happening in the private sector. public schools, states, and municipalities are also limiting employees to part-time work in order to avoid paying costly benefits. for example, the second largest school district in my home state of utah recently implemented a policy limiting part-timers to 29 hours a week. according to "the washington post," this impacted roughly 1,200 employees, mostly substitute teachers. that's 1,200 employees in a single school district that will see their hours and their wages capped as a result of obamacare. likewise, the state of virginia recently enacted a policy reducing the hours for as many as 10,000

reconstruction joins us next. >> speaking of your money, and consumer spending numbers show americans spend more at retail businesses in june. the commerce department says retail sales rose 4.2%, mostly driven by an increase in auto sales and gas prices. excluding volatile categories and building supplies, so-called 0.15%, the rose weakest since an january. a commitment to volunteerism bringing together presidents past and present. george h. w. bush comes to the white house today for a ceremony president obama is having to recognize the 5000 daily point of light award. the program created by the former president bush more than two decades ago honors volunteer service. the awards come from the description in the 1989 inaugural address of american serving each other as 1000 points of light. turning to capitol hill, senate democratic leader harry reid considering rule changes to filibusters. all 100 senators have been invited to a close-door meeting to seek a compromise on how to approach those nominated to serve in senior positions in the president's administration. the senate begins at 2:00. watch live on c-span 2:00. those are some of the latest he

businesses opening their checkbooks. according to the commerce department. the gross domestic product grew nearly 2% in the last quarter. economists had said they expected it to go up less than 1%. g.d.p., of the goods and services that a country produces for a specific period of time. it's one of those main indicators that the economists use to determine the health of any country's economy. but today's news did not effect the markets that much. wall street ended the day decidedly mixed. we may soon have to pay more to use our debit cards. that's because today a judge struck down a federal reserve rule that put a 20% limit on the swipe he fees that banks charge retail stores for each debit card transaction. retailers are calling it a victory as you might imagine. they claim that the fed was too lenient on banks when it first crafted that rule back in 2011. of course, the banks argue the ruling will cost them billions of dollars in lost revenue foor banks they are running out of money rich edson is in the d.c. tonight. customers have to pay for it? >> well, you know, customers if they spend a lot more money the banks will make it up. they will make it up by possibly cutting rewards programs

of commerce, and the small business administration, will look at these regulations and look at the impact on consumer energy cost, the impact on employment, the impact on economic growth and the department of energy certainly has the expertise to analyze these kinds of figures. and if the secretary determines that it will be harmful to economic growth, then they -- the secretary cual stop the regulation from taking effect. now, the good news is at that point the e.p.a. could go back and redo the process. but i can tell you from my personal experience of working with people in my district who are affected by regulations every day, most people genuinely believe that there's not anything wrong by having other government agencies review the impact of the cost of regulations on the economy, on jobs, on the price of fuel. and that's precisely what dr. cassidy's bill does and i think it's a commonsense approach, something that the american people need as additional protections and with that i would like to reserve the balance of my time. the chair: the gentleman from kentucky reserves. the gentleman from california is recognized. mr. waxman: madam chair, i yield myself such time as i may consu

of the agencies. people can come to the office to learn about that and accommodate businesses there. the same type of thing in washington to create opportunities. we have been talking to the department of commerceabout having our great that focuses on opportunities for u.s. companies. >> how is power africa protecting workers to have decent wages and safety on the job? financingaddress the and equity question. we're not looking at taking equity in the projects. i will not rule that out in the future if the right opportunities present themselves, especially for the smaller activities. we are learning one of the biggest risks for these deals is the up-front development financing. we're trying to listen to the private sector finding out the constraints. we are using the existing tools and perhaps developing new tools. i cannot tell you what tools we may have a year or two from now. we would have to consult with congress and find out if there is support for it to see if congress agrees and gives us the authority to do that. in terms of protecting african workers, we're doing extensive due diligence on every partner we work with. we are developing due diligence protocols on how to select companies.

business without water. modern, efficient water system is a wonderful magnet for jobs and economic activity, as well for every $1 of infrastructure spending, according to the u.s. department of commercehost: those needs outlined by the department of protection agency. 34 billion deeded over the next fall -- to under 47 billion needed. billion needed for u.s. drinking water systems. jerry waiting from austin, texas. caller: good morning. my question concerns conservation. can you speak to the issue of personal, as well as the issue of corporate responsibility for cultivation and bring us up-to- date on where it is and where it is going. obviously conservation is important. more important some places than others. if you are on the great lakes, it may not be quite as important as if you're in the high plains of texas or nevada where water is harder to obtain. i would say contact your local utility and get their guidance. in host: tom curtis with the american water works association. you can see his work at awwa.org. that is our show for today. we will see you back here tomorrow at 7:00 on "the washington journal." [captioning performed by national captioning institute] [captions copyrig