dr. collins, dr. landis for being here today. congratulations on bringing together the drug companies on this a.m.p. project. i think it's a milestone. and, again, hopefully we'll be able to continue our funding and next fiscal year and this fiscal year. thank you all very much. we'll now turn to our second panel. >> mr. chairman, if i could, others have raised kind of like a manhattan-like project, genome, landing on the moon, the manhattan project itself. wasn't one of the biggest concerns the fact that there would be a discouragement or impediment is two things. the shut down of our government and the other sequester so that there's the lack of certainty as you have to not only sequence the human genome but you got the sequence what you're going to do when in terms of research, recruitment, retention and so on. don't you need certainty as well as resources? >> absolutely. people say that the worst thing you can do to the business community is uncertainty. well that's true for science even more so. our cycle time for projects r

dr. collins, dr. landis for being here today. congratulations on bringing together the drug companies on this a.m.p. project. i think it's a milestone. and, again, hopefully we'll be able to continue our funding and next fiscal year and this fiscal year. thank you all very much. we'll now turn to our second panel. >> mr. chairman, if i could, others have raised kind of like a manhattan-like project, genome, landing on the moon, the manhattan project itself. wasn't one of the biggest concerns the fact that there would be a discouragement or impediment is two things. the shut down of our government and the other sequester so that there's the lack of certainty as you have to not only sequence the human genome but you got the sequence what you're going to do when in terms of research, recruitment, retention and so on. don't you need certainty as well as resources? >> absolutely. people say that the worst thing you can do to the business community is uncertainty. well that's true for science even more so. our cycle time for projects r

dr. francis collins, the distinguished national f the institutes of health who will discuss the science andhe esearch most likely to benefit from our appropriations. we're fortunate to have both dr. story landis from the institute of neurological disorders and hodis and dr. richard also here to answer questions. questions. on the second panel, we'll hear from dr. michael herd, the researcher who wrote the landmark study i mentioned earlier. and we'll be joined by two individuals personally impacted by this devastating disease. finally, former congressman dennis moore of kansas is here today as a long-time colleague and friend of his, i was saddened to learn of his alzheimer's diagnosis so soon after his retirement from the house of representatives. it's no surprise to anyone who knows him, though, that his first instinct was to educate others and continue serving the public through advocacy and education. so i look forward to hearing from each of our distinguished experts, and before we turn to the first panel, i'll yield to senator moran. >> mr. chairman, thank you very much. i'll make my

dr. collins at the national institute of health convened ten pharmaceutical companies to study the future of medicine. do you think it will work? >> this is an important step because in 2006 i published an article where i created a model which is called the core model. and that core models a method. it's an economic theory and organizational model of research and development. and it is the exchange of assets and collaboration taking advantage of different synergies and things already available in society to lower cost. so, i proved that using that model, one could develop drugs in a very economic manner, and in a very short time, and that was the case of a drug for the treatment of multiple myeloma, which is a cancer. so, it is interesting when i read, actually this initiative by collins, because although they haven't called it at this time "core model," it is the core model. it is exactly what i proposed in 2006 for pharmaceutical companies and the governments all over the world, not only the united states, but all over the world to try to do. to make this a collaborative effort. because

dr. matias' concerns became reality. collins had been accused of fighting with another inmate and was confined to his cell while officials investigated the matter. >> apparently another guy over there said that i hit him and that's all it took because of my, you know, my history for violence on the idu. it means a setback. a serious setback. i'm not allowed to come out but one hour a day. no matter what i do. i can whistle dixie all day long, not talk to nobody, cause no problems, not say nothing, i'll still be over there. he told me that. >> how badly injured was this man? >> no injuries. not a mark on him. >> i got the impression he was vastly minimizing what had happened. i think that part of the problem is we're a television crew standing in front of his cell, and for him to admit it, other people would have heard the truth. indiana state prison allowed us to give certain inmates little personal cameras that we would leave with them and they could film themselves. i gave a camera to brian, and all i asked of him was to be ho

dr. collins. what was touted in the president's request is this an increase to the high risk high reward or is it the do program from growth and sustainability initiative or the other budget? >> this is out of the budget within the right anne-marie envelope, $30 million to be utilized within the common fund the projects particularly appropriate for a data model where you have a project manager to identify a bold innovative strategy to attack a problem then has the freedom to go out and recruit those who may contribute. individual academics, a small companies to put together in a team that not taking the year or two to go through the usual solicitation not always get the team that you hoped for but the project manager is of the stronger position. in that has been a successful model like gps and the internet that have turned out pretty well. we hear pleased to have the authority to tackle projects of that sort. the one we're thinking about is scientific opportunity the notion that one might be able

dr. collins. about what was touted in the president's request as a sort of dark or light initiative. is this an increase to the high risk high reward, or is this a new program? is that entirely out of this opportunity growth and sustainability initiative or will it come out of other nih budget? >> let me explain. this is out of the budget which is within the ryan-murray envelope, $30 million to utilize within our common fund to tackle projects which would be particularly appropriate for the darpa model where you have a project manager who identifies a bold, innovative strategy to tackle a really important problem. and then has the freedom to go out and recruit those who might contribute to it. small companies, individual academics. put this together into a team but not sort of taking the maybe sometimes year or two that it might, to go through the usual grant solicitation and award and not always getting exactly the team he hoped for. so this puts the project manager in a much stronger position to

collins. doing a three year run as a villain on dr. who. kate o'mara died after a short illness.she was 74 years old. next up here, your homeownership on hold. what student loan debt is doing to the american dream. >> glor: the existing homes fell 7%, over the year 1.1%. people between the ages of 25 and 33, those critical first time home buyers can't afford the purchase. they have other bills to handle right now. cbs news business analyst jill schlesinger more on this. we're talking about student loan debts. how much. >> 1.2 trillion. how about that. that's a big number. the average kid who has debt now is graduating school with $27,000 in debt. that's a mortgage payment right there. so obviously with that burden, it's very difficult for kids to afford buying a home. it's even hard for them to rent. they're going home living with their parents and these boomerang kids are staying there for a while. >> glor: that's a house down payment does. this group still think of homeownership as the american dream. >> i don't think so. i think when you graduate in the midst of a terrible rec