the former cbo director, douglas holtz-eakin joins us here later.we will have much more on the deathly and that american violence and demonstrations in pakistan and across the muslim world. on wall street today, stocks capping off what was a slow week. the dow finished down 17. all three indexes, however, down on the week. apple stock up three tenths of a percent. tons of people lining up at stores around the world to buy the iphone5. flushing it forecast for this year and the next. unemployment rate rose -- meanwhile, crude oil prices changing. gold hit a new high for this year on speculation that spain is moving closer to requesting a bailout. gold ended up almost eight dollars. a report on the debt crisis in greece is being held up by the european commission. this is until after the presidential election. the eu apparently sensite to an obama administration request to delay any badness until after november 6 which happens to be the date of our election. seems to be a theme for this year and this white house. just wait until after the election. de

douglas holtz eakin. okay, ralph nader, i do want to give it to that, but i do want your reaction first, ralph. because corporations are going to have to pick up health care costs in the future. is everyone screwed? >> to go for the full medicare single-payer system. free choice of doctor and hospital, better outcomes and other western countries allow that free choice, half of the price that we are paying per capita instead of $8500 per capita, 50 million people uninsured and are very complex in a system -- we have a simple system and cutting up cabinet in half. enormous abolitionist administrative bureaucratic costs, nothing can compare with the single-payer or medicare and that's why that is why a majority of doctors and nurses and the american people repeatedly have favored that. neil: all right,. >> is it fair to say that ralph nader is not a fan of the law? to make a bad situation worse or more great? >> it makes the cost spiral of the insurance company in the hospital trade wars. it does cover a num

newshour economics correspondent paul solman met douglas holtz- eakin in tampa ahead of the republicanholtz-eakin served on the council of economic advisers under george w. bush, and later as a top adviser to john mccain's 2008 presidential campaign. he's now president of the american action forum, a policy think tank. the following week, paul talked with jared bernstein in charlotte. bernstein served as chief economist and economic advisor to vice-president biden from 2009 to 2011. he's now a senior fellow at the center on budget and policy priorities. with the conventions over and new jobs numbers out, we've brought the two men back. neither holds an official position with the current presidential campaigns. welcome back. >> thank you, jeff. >> brown: not a great report. let's look at the numbers first. jared, you first, what do the numbers tell you? >> 96,000 jobs in august. that is a weak report. it's a weak number. expectations were for a higher number. the month before we thought we added 163. it turns out we added 141,000, so a mark down, a revision downward. the unemployment ra

douglas holtz eakin walks us through the numbers. >>> a punch line at last night's emmys but it is true. american liberals are being brainwashed by hollywood, and hollywood is being brainwashed by obama. we're going to reveal how one network's primetime show shilling for obama care. first up this evening let's get back to our top story. iranian president ahmadinejad calls for the destruction of israel. what does president obama do? he labels any calls for american action noise, quote, unquote. cnbc's own john harwood joins us now with the details. good evening, john. >> reporter: good evening, larry. a rare day in which the campaign trail was dominated more by foreign affairs than by domestic economic affairs. you had mitt romney out there taking advantage of remarks the president made on "60 minutes" the night before when he talked about some of the foreign policy events as bumps in the road or noise out there. mitt romney in colorado, did an interview with nbc's peter alexander, says that's not how he thinks of those events at all. here's mitt romney. >> the president characterized as

cbo director douglas holtz eakin.nd one of the last man to speak with ambassador stevens in benghazi before he w lou: president obama raising taxes on the middle class. after all, middle-class americans will see taxes rise because of obamacare. the cbo now estimating 6 million americans, most of them in the middle-class, will be hit with a tax averaging about $1200 that they do not have health care insurance beginning in 2014. earlier, cbo report had projected 4 million people would have to pay the penalty. the tax kicks in when obamacare is implemented. exempt from any penalties, they fall below the penalty line, native americans or illegal immigrants, leaving 6 million mostly middle-class americans to pay the taxes. $1200, by the way, on average, and for a person making about 50 to 55,000, that works out to about one weeks paycheck for the privilege of being fined by obamacare. critics have blasted the president in the latest artwork of this campaign. it doesn't help alter that suggestion. the official barack obama

douglas holtz eakin joins us next.nd keeping interest rates low to support housing and create jobs and boost the economy. the stock market rallies big lou: turning from the obama administration and the u.s. government struggles on foreign policy in the middle east in particular, we turn to breaking news out of wisconsin on the domestic front. a wisconsin state judge had stopped on struck down a state law that ended collective bargaining powers for most public employees in wisconsin. circuit court judge ruling that the law violates both the state and u.s. constitution. that law was passed by the governor, scott walker. sing the people of wisconsin clearly spoke on june 5. now, they are ready to move on. a liberal activist judge wants to go backwards and take away the lawmaking responsibilities of the legislature and the government. we are confident that the government will prevail in the appeals process. governor jindal was a democrat to the white house finally releasing details on how they will implement $1.2 trillion

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douglas holtz-eakin is with the conservative think tank american action forum.ng to assess the current state of our economy. president and the democrats say it is improving. i beg to differ. we are weakening as we speak. what say you? >> looks to me the economy was drifting sideways through the summer with rising oil prices. be on coming fiscal cliff. we saw some signs of weakness and a lot of reports have been weak. today's unemployment report and mfg. i s m which had strong employment components. i thought we would have 100,000 jobs below consensus now looking for 130,000 jobs and unemployment rate that is steady. no real deterioration. stuart: more of the same. former president clinton called for president obama need four more years to finish the job. if we gave the president four more years and he put in place the policies he says he is going to put in place what whave a robust dynamic return to prosperity. >> i don't see how that is possible. the characteristic of obama's policies is massive national debt. the history that countries burdened with this debt

douglas holtz-eakin, a pleasure.'s another video of president obama supporting redistribution we're going to play that. that's making a splash this morning. what else the president said to david letterman that's coming up in the next hour, including, where he places the blame for our massive debt. take a wild guess. we'll play you the tape new the at 10. according to a new study the united states ranking has a free economy falling. in a release by the cato institute the u.s. has fallen to 18th in the 2012 freedom of the world report behind finland and denmark which are welfare states. hong kong, singapore numbers one and two. and the u.s. has been sleeping, in '08 ranked ten, now we're number 18. want to get back to apple. nicole, the shares, what would the stock be-- >> this morning, the reviews are coming out and bit by bit. i'm reading this morning about how it really is the greatest phone and now how they've worked so hard having their own maps and stuff. the maps have a little bit of a flaw, not loving that part

for more, let's bring douglas holtz-eakin in, former cbo director, also in washington. it's almost a joke to us after a while, they are not going to get anything done, but is there anything -- is there a headline that we can say out of this session of congress say hey at least they did this or is it just aoss cause? >> well, one would hope they would in fact a government funding bill so we can avoid any sort of fight on a shutdown. that strikes me the least we could expect out of them. it would also be very useful if they took on some of the traditional roles of oversight. you know, for example, i think it's been 80 odd years since we failed to pass a defense authorization bill which means we have looked at the defense department, authorized the programs it's undertaking. that's not happened in the senate yet this year and i think that's just a striking omission. and of course the big thing is the fiscal cliff. evidently they are not going to be able to get it together and try to deal with that, but every day they don't, i see the economy damaged. we're starting to see

let's get into it with douglas holtz-eakin, a former director of the congressional budget office.is now president of american action forum. erin chatergy, economic advisor for the obama campaign. the tale of the tape is front and center this week. governor romney caught on tape at a fund-raiser saying 47% of the american people, those who pay no income taxes are never going to be in his camp. you have a tape of then state senator obama saying he likes government redistribution of wealth. would you agree, aaron, that those two tapes sort of illustrate the choices in this campaign? >> well, thank you for having me. and jon, there are two very different visions a the work here in this presidential campaign. president obama believes in an economy that grows from the middle out. where anyone had wants to work whard will have an opportunity to succeed. that is why he invested in education, in innovation, infrastructure and our manufacturing sectors. we're going to move forward when we make the investments and grow together. if you look behind closed-door fund-raiser that governor romney