eamon javers is where he belongs at the state fair in iowa. as we get ready to hear from representative ryan. go ahead, eamon. >> reporter: it's great out here, tyler. the sun just came out here. the politicians are getting ready to come out, too. we are expecting paul ryan to show up here in just about an hour's time and make his way to a spot just behind us to give what he's calling a soap bo box-type speech. campaigning on his own today. we ran in to senator chuck grassley of iowa represented the state for so long and knows how the folks here react to paul ryan's selection as a vice presidential nominee and here's what senator grassley told us this afternoon. >> i think the impact in iowa's going to be that he's mid western. people feel that he's a person that can be trusted. but the midwest person thing is mid westerners like straight shooters and he is a straight shooter. >> reporter: and guys, we are getting the first snapshot here of national polling over the weekend of what the pick of paul ryan is doing to the campaign. it's not a very

our eamon javers joins us to fact check ryan's speech, however. how did he score, eamon?reporter: hi, mandy. -a rousing speech but a couple of statements that paul ryan made last night are getting some scrutiny here on the day after. we 'll go through two of them here. take a look at the first one just now. >> right there at that plant, candidate obama said i believe that if our government is there to support you this plant will be here for another 100 years. that's what he said in 2008. that plant didn't last another year. >> reporter: ryan is talking about a gm plant in his hometown of janesville, wisconsin, but gm announced that the plant would seize production in june of 2008. that's well before obama was sworn in as president. the team said that the comment was fair because obama said he would retool plants like the one in janesville and yet that is still closed. they say it's fair even though the last vehicle rolled off in december of 2008. about a month or so before obama was sworn in. here's the second sound bite to play from last night. this is paul ryan mentioni

eamon javers in lakewood. >>> rick santelli with the tuesday edition of the santelli exchange. and everything that eamon said, listeners, viewers, keep it in your brain for an extra minute. we're going to get to using some of that. listen, 'tis the seasonal. we've come to a point now where numbers are so important, there's so much at stake, trying to handicap. is the u.s. economy really grabbing or isn't it really grabbing? zero hedge, really one in the weeds today about seasonalities with today's retail sales number. and believe me, what they've done is really opened up many eyes that there's two sides to every coin. generically, it was a good number, up .8. generically, $401 billion turn into $404 billion on retail sales, up .8. if you look at the seasonalities, nonseasonally adjusted because they've gone back and proved there is a lot of seasonalities to july, it moved from $406 billion to $402 billion. i'm rounding off. that would be down .9. i urge everybody, look at it, not because i'm picking one side or the other, but because if you really want to know the answer, someti

eamon javers is live in des moines with the very latest. eamon?ng, melissa, from the iowa state fair. they're selling deep-fried mac and cheese here. they're expecting paul ryan just down the road from where we are later on this morning. and they're expecting he's going to give sort of a soapbox-style speech. it's going to be one of his first outings on the campaign trail on his own, but already over the weekend, paul ryan was laying into president barack obama with some pretty tough rhetoric. take a listen. >> no one disputes that president obama inherited a difficult situation. and in his first two years with his party in complete control of washington, he passed nearly every item on his agenda. but that didn't make things better. whatever the explanations, whatever the excuses, this is a record of failure. >> reporter: now, melissa, rhetoric like that is exactly what you hire a vice presidential candidate to do. the vice president typically in campaign years is the attack dog giving the presidential candidate the ability to float a little bit a

eamon javers is cnbc's washington correspondent. is this getting traction? do the american people care about the fact that romney is releasing only two years? >> i think if you frame it in terms of documents and details, the the american voters don't necessarily care about that stuff. it's kind of complicated and confusing, but what they do care about, kind of in the gut, is this sense of somebody's getting away with something you're not. so if romney's paying a lower tax rate than other americans, those folks are going to resent that and see how that happened. >> is he in fact paying less a tax rate than most americans? >> e yeah, what we're talking about here is the federal effective tax rate. that's after you take your deductions and everything else. he's saying over the past ten years, he paid 13%. most americans, so your median income was about $75,000 a year. those folks paid less. about 5.6% than an effective rate, although they also paid payroll taxes, so most americans are paying a lower rate than mitt romney paid, but the problem for mitt romney is

eamon javers is live for us in washington. hi, eamon. >> reporter: hi, sue.he billions of dollars are due today to the u.s. treasury and the postal service says it will miss the payments. the reason, of course, as you or anybody else that used to send a letter and now sends e-mail knows is the decline, the staggering decline in first class mail and rise in competitive services like u.p.s. and fed-ex. how much does the u.s. postal service owe? starting today, they owed $5.5 billion in what they call prefunding for retiree health benefits and then in september they say they'll likely miss $5.6 billion payment due to the treasury at that time, as well. the post service has a plan to fix all of this, though. they would like to cut back on services in order the make up for the shortfall starting with no saturday delivery as well as closing some little-used facilities and operating an independent health plan for employees. all of those steps the post office says would be able to cut costs down to a more manageable level. of course, the postal service is an independ

eamon javers has more on that. >> reporter: the congressional budget office is slightly bullish. they project gnat federal budget deficit for fiscal year ending september 30th will total $1.1 trillion and a bit less than the $1.2 trillion estimate for march. this is the fourth year, however, in a row with a deficit over $1 trillion. the reason for the downward deficit revision is a decrease in activity and the cbo expects the recovery to continue at a quote modest pace for the remainder of 2012 with real gdp growing at 2.25% up from about 1.75 for the first half and for 2013 as you say the cbo projecting a grim year with economic tightening resulting from the fiscal cliff and has to assume the country goes over written in current low. the cbo projecting recession-like conditions for 2013 with year over year gdp growth of negative 0.3% and a jump in the unemployment rate that year from 8.2% to 8.8%. now, all of this is engendering political response. we have a statement of the white house saying today's congressional budget office report only reinforces the urgent need for house r

eamon javers is in washington with the details. hi. >> hi.o getting good news in the form of the fdic's quarterly banking report for the second quarter of 2012 starting with bank earnings up about 27%. banks earned $34.5 billion, 63% of them reporting higher earnings. non-current loan balances declined for the ninth straight quarter and total loans and leases grew by $102 billion. that number had been down before. the fdic's problem of banks fell from 772 to 732. they were cautiously optimistic about all of this. >> the industry continues to recover at a gradual but steady pace. this recover features rising profitability, attributable primarily to improving asset quality. more recently, we have also seen fewer bank failures and problem banks and signs of return to loan growth. >> one of the key numbers is that lending number, up $102 billion. that is an important number. in the last quarterly report, that number had been down, a good sign for the economy if lending is up and banks are injecting that capital back into the economic's bloodstrea

eamon javers is here to fact check his speech.e you were on the couch with the popcorn and a glass and wine and started it from start to finish. >> reporter: i was in a chair here at the studio start to finish. mitt romney talked a couple of different times about taxes. starting with this point he made about tax cuts on the middle class. >> and let me make this very clear. unlike president obama, i will not raise taxes on the middle class of america. >> reporter: but at least one analysis by the tax policy center found that romney's plans likely to lead to an effective tax increase of $500 per household for those earning less than $200,000 and then this comment about small business taxes. take a listen. >> his policies have not helped create jobs. they've depressed them. and this i can tell you about where president obama would take america. his plan to raise taxes on small business won't add jobs. it would eliminate them. >> reporter: now, what romney didn't mention here is 18 times that president obama has signed small business

sully's interrupting the vacation in wisconsin to join us from green bay and let's start with eamon javers traveling with ryan. great to see you there, eamon. this is a battleground state and hard campaigning going on. how much does the ryan-romney ticket move the needle? >> reporter: well, clearly, it's injected a jolt of energy in to the campaign. you can tell already by the feel here at the iowa state fairgrounds and we can paul ryan's -- just looking at the campaign coming in. he's just arrived here at the fairgrounds. walking in towards us. setting up back here and a sense of jolt of energy that this has given the campaign, we've got a crowd of thousands of people that's been filling in steadily back here. some of the folks tells us they want to hear what paul ryan has to say. not a figure known nationally and if you can swing around and probably take a look, paul ryan right by our position here. take a look around and see the state troopers there. see the traveling press there with congressman ryan coming in. going past the hot wings, that chos, root beer here. all of that traditiona

eamon javers out with details. >> the latest poll numbers are out. starting with the overall headline number here, who would you rather vote for, obama/biden, 48%. romney/ryan, 44%. look at the right direction, wrong track. that one not necessarily good news for the folks a the white house. 32 brs think the country is going in the right direction. 61% think it's on the wrong track. but flip over to the economy, you see something that's going to give folks in the romney campaign a little bit of pause here. ask if the economy is going to get better? 36% say yes. look at the jump. 18% saying the economy is going to get worse over the coming month. and then look at wall ryan and the effect he's had or more correctly, not necessarily had on this race. does adding paul ryan to this ticket make your more likely to vote for mitt romney? 22% said yes. less likely? 23% said yes. and 44% said it will not affect whether they vote for romney or not. the that spread is worse than joe biden or sarah palin had on their tickets the last time around. >> it may be a li

eamon javers, good evening. >> good evening.reporters like to complain that the political conventions are scripted, locked down affairs without a moment of spontanei spontaneity. last night we learned why they do that. clint eastwood's commentary was rambling, mumbling and awkward. at times almost incoherent. take a listen. >> uh i -- i just wondered -- all these promises. then i wondered about -- uh, you know, when -- when, uh, the -- what do you want me to tell romney? i can't tell him to do that. can't do that to himself. [ laughter ] >> larry, the crowd in the hall clearly loved the commentary from clint eastwood. it definitely played well among the faithful in the room. on television however the gimmick of talking to an invisible barack obama in an empty chair next to him didn't play well. nonetheless, eastwood was able to pull the remarks together at points and land blows against the president and come up with stirring lines. >> you -- we -- we own this country. [ cheers and applause ] yes. we own it. and it's not you owni

eamon javers joins us from washington, d.c. with a great look at how we can all maybe do it, too. n? >> reporter: you know, brian, everybody hates paying taxes, including rich and poor alike, but if you want to get your tax rate down to an effective level federally of just 13% as mitt romney says he's been able to do over the past ten years, you are going to have to stretch if y you're a high income person to make that happen. there's a gap between the two different types of rich people. those rich people who work for a living and collect a salary will have a very hard time as high income earners down to 13% but if you're making most of the income off of investment returns, capital gains tax rate of 15%, you can do it. let's walk through the numbers. how can you get your rate down to 13%? well, the first tip is be poor or middle class because a family of four at the median u.s. income of $75,648 in 2011 paid an average rate of just 5.6%. so that's right. most americans pay a lower federal effective rate than mitt romney says he paid. another one, you don't want to make over about $

cnbc's eamon javers -- hey, girl, choose me, lose choice. it plays off hey girl, it's paul ryan.t is also a reference to rye any's extreme positions on social issues particularly when it comes to women's health care rights. joining us now is sandra fluke, activist that has been very publicly active for women's health rights. stephanie, president of emily's list. thank you for joining us. >> thank you. happy birthday, karen. >> thank you. >> happy birthday. >> i want to start with you because one of the things i have been concerned about is, you know, some of the rhetoric suggests people actually don't know how extreme paul ryan really is. yet, just two years ago, he told the weekly standard i'm as pro life as a person gets. maybe you can help fill in the gaps there. >> absolutely. i'm actually having an op-ed going up on msnbc later today talking about that when i talk about representative ryan's record, people think i'm lying to them. because it is so unbelievable. and that's what we have to make sure the message gets out. i actually don't think it is accurate to describe repres

eamon javers joining us. truth patrol javers, what did you see and hear? >> reporter: that's right. it rested on the record as governor in the state of new jersey. take a listen to this sound bite saying exactly how bad things were when he came in to power. >> when i came in to office, i could continue on the same path that led to wealth and jobs and people leaving our state. or i could do the job people elected me to do, to do the big things. >> reporter: so were all those things happening in the state at the time? looking at personal income in terms of wealth leaving the state, personal income was going up in the years that christie took over from 2009 to $53,000 in 2011. also, take a look at the employment rate. this is one where clearly after christie took power in 2012 the employment rate comes down. stabilizes. it had spiked dramatically before he got in to office. and then look at population. were people leaving the state of new jersey? the population of the state of new jersey going up fairly steadily for years and years. now. we asked about this and they said it's a flight

eamon javers at the white house with the details. >> reporter: hi, maria. after taking some heat from the white house press corps about not taking questions from the white house press corps, the president came into the briefing room to take some questions from the white house press corps today. he defended the overall tone of his campaign and he also said as far as mitt romney's tax returns go, the white house and the presidential campaign are doing nothing wrong in asking to see more years of returns. take a listen. >> this isn't sort of overly personal here, guys. this is pretty standard stuff. i don't think we're being mean by asking you to do what every other presidential candidate's done, right? it's what the american people expect. >> reporter: and, maria, in terms of what else the american people can expect, the president said not to expect a whole lot of action between now and election day. he urged congress to take a couple of measures to improve the economy between now and then, but he didn't seem to hold out a whole lot of hope that anything can

eamon javers in washington. >>> simon's made his way to post nine.'s going to stick around for another hour as well. we should know, we're awaiting the president's remarks on tropical storm isaac at any moment. road map for this hour, rare tea party in the morning. we'll sit down with minnesota congresswoman and former gop presidential candidate michele bachmann live from the rnc, next. >>> it's an eerie case of timing as today marks the eve of hurricane katrina's anniversary. so is tropical storm isaac marches toward the gulf coast. we'll take you live to the scene for the very latest on the storm's path. >>> one of the leading voices of the gulf coast recovery effort post katrina, louisiana senator marry landrieu will tell us how her state's prepping in the final hours leading up to isaac's landfall. >>> first up, after a one day delay the rnc gets under way today. the tea party has already been busy in tampa holding a unity rally in advance of the convention. minnesota congresswoman michele bachmann is the chairwoman of the house tea party caucus,

cnbc eamon javers has been trailing the congressman as he crisscrosses the country. >> reporter: anotherg day on the campaign trail. we traveled with him. such a crucial battleground state going into november. both campaigns are going to be spending a lot of time here in ohio. one day after the battle is over, joe biden's remarks about people being put in chains and all the rhetoric that is your rounded that today we're seeing an increased amount of rhetoric around the question of medicare, who is trying to stroit and who is trying to save it, both campaigns battling right now to make sure that they can claim credit for saving medicare. why? it's so important in these battleground states like ohio and florida. senior citizen vote. paul ryan's budget plan has become a flash point for democrats to attack this republican ticket. he's here in thoi rebut those efforts. back to you. >> still to cobble the program we'll get a check on africa's financial sector. the standard bank joins us from eskimo hansburg coming up after the break. . >>> standard bank has reported a 9% rise in first half pro

eamon javers is in lakewood and joins us with more. i was watching your report yesterday, eamon.nterested in was yesterday was the crowds and a lot of our shots of the vice presidential candidate you couldn't see him because there were so many people. now that's typical in the first week after someone's picked but is the energy as palpable as it looks? >> yeah, we're in lakewood, colorado, today, at lakewood high school. we were in des moines yesterday with paul ryan at the iowa state fair and as paul ryan came in, he came in through the gate at the iowa state fair, there was a crush of not only reporters but also attendees at the event who wanted to talk to him. that was a really powerful energetic moment and when you saw that crowd building waiting for paul ryan all through the morning hours, it just got to be thousands and thousands of people there at the iowa state fair but paul ryan opened up his remarks on the national campaign stage, this was his first full day yesterday, campaigning by himself, and he opened up to a really tough moment here, where there were some hecklers

. >> thank you very much, eamon javers.ng shares of facebook shares nearing another all-time low. is another large round of selling in store? rick summers, a senior analyst joining us here post 9, mark harding an analyst, mark, i'll start off with you. the argument goes that every single ipo faces a lockup, but this one seems different in terms of the number of shares that would be available to be sold over the next year or so. what sort of a headwind does that present for the shares. does it factor into your analysis on the company? >> i think the first way to look at it, factors into the analysis, it really doesn't. whether or not the shares come out or are sold, it does not have a impact on the fundamentals. you'll continue to see very strong growth from the monthly active users, continue to see improvements there. whether or not it has an impact on the stock price, well, clearly it will have. there's likely to be some sort of perceived concern about selling pressure, and that could contribute to it. whether it's actual

eamon javers is in washington with the highlights. >> it was an enthusiastic and sometimes emotionalromney that took the stage and faced two major tasks. one was introducing himself on the biggest stage of all before millions of americans who hadn't been tuning into the political campaign so far this season and the second is convincing americans that maybe voted for barack obama that it is okay to move on. >> i wish president obama had succeeded because i want america to succeed. his promises gave way to disappointment and decision. this isn't something we have to accept. >> he also made the distinction between obama's soaring rhetoric and his more workman like approach to the job. >> president obama promised to begin to slow the rise of the oceans. and to heal the planet. my promise is to help you and your family. >> then there was this, clint eastwood, the hollywood actor took the stage. it was a rambling and at times bizarre address before the rnc. the audience in the room seemed to eat up parts of the speech. clint eastwood spent much of the address talking to an empty chair and