. >> suzanne: we ask the president's top economic advisor if the hiring will continue. you're watching nightly business report for friday, april 1. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> suzanne: good evening, everyone. susie gharib is off tonight. the u.s. economy is creating jobs in a meaningful way and it's no april fools. tom, the march employment report was better than expected, capping off the strongest two months of hiring since the recession started. >> tom: suzanne, the labor market recovery finally appears to be gathering speed. the unemployment rate slipped to 8.8% last month. that two-year low came as more people stopped looking for work and were no longer counted as unemployed. employers added 216,000 new jobs to payrolls and the february number was revised higher. >> suzanne: it was the kind of labor news that wall street and main street have been wai

talk to economic advisors at the white house and they say we don't really know how this is going to play out. but they worry about this squishy thing, business confidence. the idea that if it looks like washington can't get its act together on this, how can washington get its act together on the bigger debt question? and that will affect business and the way it makes its choices. gwen: the federal housing administration would not be able to close loans. >> yes, that would be direct, and lots of federal employees affected. so this was spooking them and that was always something that was really pushing the white house to get involved here. and as we said, with john boehner, too, nobody wanted to be stuck with that. gwen: did the white house get effectively involved? >> they certainly were involved more so than it appeared. obama himself was not sitting at the white house. but his own director, jack lou, was definitely in the meetings and in close contact with the senior aides who were negotiating on behalf of the congressional leaders. and so the white house was as involved in all the deta

the gotten out of balance here over the last thirty years you're on the president's council of economic advisors. why is he not talking like this but we tried to get him to talk about jobs because i mean the only thing that's on most people's mind right now is the economy and. i mean you could talk about all the fruit all around the edge but it's about economy and it's about creating jobs he got on that message for a labor day we should have been on that message or the ad and it's not just and i don't mean this just as like a knock on president obama i mean the democratic party as a whole there's a there's a few actually bernie sanders probably the best kind as to. because he's an event caucuses with a down supply i think they've had a fairly good program recently to talk about jobs and pushing jobs and saying how they're going to defend jobs but what we have to do for the american public said there's two people six this creates jobs and here's how this doesn't create jobs and here's why and then let them pick because i think they're going to pick job creation every time today on my radio show t

bring up an interesting point and i mean a great example would be very summers who was the chief economic advisor to the president who critics have said that he did not have enough of the stimulus did not have the proper response to the financial crisis and as a result didn't serve america and so at a conference that is all about kind of moving past that were put oxy and rejecting orthodoxy in and suggesting that that doesn't serve the globe anymore larry summers critics probably would say he's an example of someone did act very orthodox and didn't serve america and his handling of the crisis the stimulus just being one of several this isn't the end of course summers is here and he's getting a keynote address shortly and we are going to get a chance to talk to him so i'm going to i'm going to try to get a couple questions in there i'm just curious how much press is covering this event because you know we spoke before on this show how any time these days that there's some koch brothers conference where a lot of you know rich people out of top economic minds are gathering then the liberal media is

. >> coming up, surf is up on "today in the bay," the president's top economic advisor trades >>> the surf trailer is always packed with open ocean surf lessons. a man named tim called david alexander and set up a session for his son and daughter. six people showed up. >> he is the daughter and the son, and then his other two guys or three guys are in the car. and i didn't think much of that either, they're just business associates. >> the search for waves took hours. tim and his son paddled out. their friends just stood on the cold bluff. alexander suggested they weight at the nearby restaurant. >> he said, no, i got a watch. in the water, tim's daughter revealed his client was tim geithner, the u.s. treasury secretary. >> at first i thought it was laughable, and the guys up there on the bluff are the secret service guys of course. this happens every day. >> alexander says it was a relief to figure out it was the secret service hanging out here at the state beach. he said for once he didn't have to worry about his car getting broke into. >> alexander says geithner was down to earth a

we spoke to his chief economic advisor today he said unlike republican plans the president takes a balanced approach. >> doesn't extend a trillion or more dollars to high income people that we can't afford. >>> air force one will touch down tomorrow afternoon, his second bay area visit in three months. his first stop, facebook headquarters in palo alto for a web cast town hall. >> according to facebook, they all have jobs, not exactly the best place to contact people who are looking jobs here in san francisco. >> reporter: of facebook the president will attend a fundraiser speech at the sonic auditorium. tickets were sold to the public from $25 to $2,500. >> i am going to ask him what are you going to do for the working and middle class people of the united states. >> i would want to know how he perceives for the future of the united states and how things are going with -- in his opinion how things are going with our economy. >> reporter: the masonic auditorium is just one even. he will attend a breakfast fundraiser with the plates costing up towards of $3,500. >>> a complete coverage of th

and matthew slaughter, who served on the council of economic advisors under george w. bush.s now associate dean at the tuck school of business at dartmouth. matthew slaughter, since this was so unusual i'll reverse the normal newshour approach and reduce appearances first. why is bernanke doing a press conference and who do you see him speaking to? >> i think the chairman connected to the press conference for two reasons. one is historically if you look at his academic work a lot of research had shown the value of transparency for central banks and the second is in the wake of the financial crisis and the ongoing sluggish recovery, i think he feel it is need to try to speak to different audiences that are concerned about how u.s. monetary policy is being conducted so today he was speak to business and finance leaders. he was speaking to policymakers, but at least as importantly, i think the third group he was speaking to american workers and their families to talk about the concerns that they have about the recovery. >> lehrer: joseph stiglitz, what do you see? why is he doi

i know his economic advisors are telling him what a debt crisis looks like.e's the way i look at this charlie. i was involve in the crisis management of the 2008 crash,un, the financial crisis, which created the recession. i was involved in that tarp legislation. really ugly legislation. nobody enjoyed that moment. that thing caught us by surprise, charlie. we didn't see it coming. and what happened? millions of people lost their jobs and trillions of dollars of was lost out of nest eggs. this crisis we see coming. it's the most predictable economic crisis we've had. we know why it's coming, and we know what we need to do to prevent it from happening but we don't have leadership around here to tackle this challenge to prevent it from happening. we decide not to wait around for the president to act. we decided to act. and, obviously, he doesn't like the way we do it. i argue he could dramatically distort what we do. he doesn't like what we're doing. he doesn't like what his commission did but you would think a leader would propose his alternative. he doesn't t

because, as my friend from north dakota said, we care about job creation and mark zandi, the key economic advisor to john mccain's campaign, said if you do what the republicans want to do -- that is, the republicans of the house on h.r. 1 -- that will cost 700,000 jobs. can you believe that? after we're finally coming out of this recession. thoing thank the lord god we had a quarter of a million new jobs last month, and here they are going to take a meat ax to this budget and according to outside experts going to destroy the economic recovery and set us right back into a recession. so we said well, hold off here. we really feel we need to be wise about this. we went to the number that you originally put out there. why do you keep moving the goal posts? they said well, that's just the way it is. we move the goal post, take it or leave it. we said all right, we're going to go back and we're going to go as far in your direction as we possibly can do and not jeopardize jobs. went back and here's where we are. we went 78% of the way, mr. president, to the republicans' new number. now, here's the deal.

proposal, h.r. 1 would have cut spending so severely that former mccain presidential campaign economic advisor mark zandi estimated it would cost as many as 700,000 jobs. well look at our job gains for february. 22,000. for january 68,000. february 222,000. for january 68,000. december 167,000. for november, 128,000. we would wipe out months and months of job gains with a 700,000-job loss. goldman sachs, the wall street investment bank said that this bill h.r. 1 could reduce the growth in our annual gross domestic product by two full percentage points over the rest of the year. now, we were only expecting about three percentage points of growth so to knock off two of them is a big hit on jobs. so i'll begin by pointing out that as we deal with the debt and the deficit we cannot forget about jobs. it is growth ultimately and a recovering economy that will help reduce our national debt. now, as you'll recall the republicans also resisted any efforts to close any corporate tax loopholes. corporations, our republican friends contend are overtaxed and any closing of the loophole would amount to an

then more about the president's spending plan with economic advisor gene sperling. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] >> tomorrow morning, we will focus on the budget and the debt ceiling. "washington journal" is live on c-span every day at 7:00 a.m. eastern. >> a couple of live events to tell you about tomorrow. first, a joint subcommittee hearing of the house natural resources committee hears from customs and border patrol agents and the interior department about the conflict between environmental laws and border security. that starts at 9:30 a.m. eastern on c-span 2. at 12:40 p.m. eastern, the brookings institution and the national endowment for democracy post a discussion about this cute -- about democracy and human rights. samantha power senior director of the security council office of human rights. >> to be a parent means that you will train the people you cannot live without to live without you. >> the sats, college rankings, guidebooks, financial aid forms, weekly standards andrew

just today we had an analysis come out from the former economic advisor to john mccain when he was running for president, mark zandi, the chief economist at moody's an lytics who said the republican plan will cost america 1.7 million jobs by the year 2014 with 900,000 jobs lost next year. and that republican budget violates the warning from the bipartisan commission that we need to do the cuts and the deficit reduction in a responsible way. the co-chairs of the president's fiscal commission stated that the republican budget, and i quote, fall short of the balanced comprehensive approach that we need for a responsible plan. they are absolutely right. it is not balanced, it's a totally one-sided approach to deficit reduction, because when you sweep away all the soothing, sweet-sounding talk of reform at its core, this republican budget is not bold. in fact, it's the same old formula of increasing tax breaks to the very wealthy in this country and to the special interests like big oil at the expense of the good of the rest of the country except this time it's the same old plan on steroids. we

but a top advisor it can't hurt the economic recovery. >> if they are not careful cuts, yes, it could. we can't take a machete we have to take a scapel. >> spending cuts and tax increases on the wealthy, something republicans have opposed. republicans are skeptical the president really wants to cut. >> we've had to bring this president kicking and screaming to the table to cut spending. >> but before the budget, the president must convince congress to raise the debt ceiling. >> it would precipitate the a crisis worst the ones we went through. >> the implications for fiscal policy and economy would be catastrophic. >> what would actually happen? it's like defaulting on a home mortgage. no one would loan you any more money without a higher interest payment and the u.s. government borrows a lot of money. bankers and economists say it could stop the recovery dead in its tracks. >> it creates so much uncertainty, interest rates will rise, financial markets will be very worried. >>> coming up, forget open doors and testing drivers. what muni says passengers should feel safer getting to thei

to the house ways and men's committee as well as on the staff of the president's council of economic advisorsstart with a round of questions and i like to not spend all of our time in the past and think about one obvious comparison of today to 1995 when republicans had taken a majority, faced a democratic president and had, at that time, an actual budget showdown as we certainly face a potential one today and i thought i might start with janet who let her set the stage of 1995. paint a big picture of what had been happening and ultimately how we got to the end of 1959 when the big budget showdown came through. give us a picture where we were in 1995. >> yeah. in 1995, you have to remember that, 1994 elections weren't a, just any old handover of power from one party to another. we've seen a lot of those over the last 16 years since then but that was like the first time in 40 years that the house had done out of democrat hands. it was a really big deal. the senate had flipped once independently of the house but so, not only was it the entire congress but it was the house for the very first time

and mark zandi, who advised john mccain when he was running for president on economics, moody analytics chief eonomist and advisor to senator mccain said it would cost almost 7 00,000 jobs. in addition to these skewed priorities, republicans are insisting that any bill, any bill to keep the government open must also include controversial social policy provisions that have little if anything to do with the deficit. even though in their own pledge to america promised, and i quote, to end the practice of packaging unpopular bills with must-pass legislation. bills that should pass on their merits not as related to some extraneous issue. rather than compromise with president obama and the democrats in the senate and house, republicans are threatening once again to shut down government. as they did in 1995. now they tell us that they'll back off on their threat but only if we pass a partisan, one-week spending bill that triples the ransom to keep the government opened. in other words, this bill contains three times the weekly cuts as the last week to week bill did. it also takes all cuts from only a small slice of the

out plans to slash the deficit even willing to cut medicare and medicaid but top advisor said the cuts can't hurt the economice upper 50s to near 60 in downtown san francisco. plus breezy conditions and upper 50s in the north bay beaches. inland mostly a sprinkle or two. monterey bay low to mid 50s with the winds slower the farther you get away from the beaches. at&t park dodgers are in town and partially cloudy and 56 dropping down to 52. we'll be even cooler tonight than this morning. 40s in most areas chilly upper 60s in santa rosa and also in cloverdale. one cold front here it comes tail end mostly in canada. we're barely getting sprinkles today. clouds and cooler weather more than anything from this weak front. next system moving through the gulf of alaska it's colder and we could get measurable rain on wednesday. temperatures will drop four degrees. hit the 60s thursday through saturday at the coast. on a to low 70s around the bay and inland. in case i missed it pretty cool some of the hail that fell in san jose. you can see there snow covering the sidewalks grass. what an accumulation. and even the cor

mark zandi, who advised john mccain when he was running for president on economics, moody analytics chief economist and advisorto senator mccain said it would cost almost 7 00,000 jobs. in addition to these skewed priorities, republicans are insisting that any bill, any bill to keep the government open must also include controversial social policy provisions that have little if anything to do with the deficit. even though in their own pledge to america promised, and i quote, to end the practice of packaging unpopular bills with must-pass legislation. bills that should pass on their merits not as related to some extraneous issue. rather than compromise with president obama and the democrats in the senate and house, republicans are threatening once again to shut down government. as they did in 1995. now they tell us that they'll back off on their threat but only if we pass a partisan, one-week spending bill that triples the ransom to keep the government opened. in other words, this bill contains three times the weekly cuts as the last week to week bill did. it also takes all cuts from only a small slice of the b

mark zandi, who advised john mccain when he was running for president on economics, moody analytics chief economist and advisor to senator mccain said it would cost almost 7 00,000 jobs. in addition to these skewed priorities, republicans are insisting that any bill, any bill to keep the government open must also include controversial social policy provisions that have little if anything to do with the deficit. even though in their own pledge to america promised, and i quote, to end the practice of packaging unpopular bills with must-pass legislation. bills that should pass on their merits not as related to some extraneous issue. rather than compromise with president obama and the democrats in the senate and house, republicans are threatening once again to shut down government. as they did in 1995. now they tell us that they'll back off on their threat but only if we pass a partisan, one-week spending bill that triples the ransom to keep the government opened. in other words, this bill contains three times the weekly cuts as the last week to week bill did. it also takes all cuts from only a small slice of the

mark zandi, who advised john mccain when he was running for president on economics, moody analytics chief economist and advisor to senator mccain said it would cost almost 7 00,000 jobs. in addition to these skewed priorities, republicans are insisting that any bill, any bill to keep the government open must also include controversial social policy provisions that have little if anything to do with the deficit. even though in their own pledge to america promised, and i quote, to end the practice of packaging unpopular bills with must-pass legislation. bills that should pass on their merits not as related to some extraneous issue. rather than compromise with president obama and the democrats in the senate and house, republicans are threatening once again to shut down government. as they did in 1995. now they tell us that they'll back off on their threat but only if we pass a partisan, one-week spending bill that triples the ransom to keep the government opened. in other words, this bill contains three times the weekly cuts as the last week to week bill did. it also takes all cuts from only a small slice of the

economic growth by 2% and increase unemployment by 1%. during the height of the great recession for several months, 700,000 americans lost their jobs. according to march zandi, the economist with moody's analytics and advisor to senator mccain's presidential campaign, those policies would cost american workers another 700,000 jobs. the economic policy institute projected a loss of 800,000 jobs while the senate for american progress said it will cost 900,000 jobs, that's a past america does not want to go back to, the republican budget proposal, the path to the past, returns us to the law of the jungle and survival of the fittest. throwing the young, the elderly, the sick, and disadvantaged on their own fates. that's not an america i believe in. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the chair recognizes the gentleman from north carolina, mr. jones, for five minutes. mr. jones: mr. speaker, thank you very much. as many people know and i do not say this with pride, but for years i have been signing letters to the immediate and extended families of those killed in afghanistan and iraq. i have signed over 9,966 letters, it is a constant reminder to me of the h

with economic growth in india and china but nothing to do with the prior day's that may or may not have been set through the world bank meeting or the general assembly. those who were the main advisor on the millennium declaration for a decade at the time over 10 years ago said now that we have a dead -- deadline for the world, it doesn't matter who you are any more. if you are a government contributing with mortality or infectious of disease or company or ngo it does not matter goals are for everyone. our accountability is to the poll. not to whether or not the prior was set by the state department but the priorities to the objective and it is a free-for-all whoever can do it should do it so i am being value neutral discounting the priorities that may or may not be set by government but speaking of microcredit earlier it seems the way by climate changes of the agenda for the lobbying of scientists and ngos and other actors it seems there is a strong case the things we are focusing on the do not allow themselves to the priorities in decisions made by states but what is important is we don throughout the international system. i defend the united nations very strongly but i do it car

is professor of economics and he goes to labor relations, occupational safety and health, and transparency policy. he is the author of three books and he previously worked as an advisor to the u.s. department labor. his wage and hour division and osha and the number of other offices. peg, let's start with you. the afl-cio works closely with osha and often pushes ocean to do more. can you talk about the relationship that unions like yours have with the agency? >> we have a long history with this agency and with this law. it was the unions who fought for and got the osha law passed back in 1970. since that time, we have been both a friend to the agency had many times and at other times, we were pushing the agency. when you look at the standards the agency has said over the years like blood borne pathogens, virtually all of those k because the union's petition to win some had to go to court. then we followed up in defending those rules. our history as one of pushing, pushing, pushing for stronger worker protection and fortunately, over the many decades, there have been, for the majority of times, heads of the agency that were very committed to safety and health going ba

advisor to chairman paul sarbanes. prior to daniel's appointment to the board, he was a professor at the georgetown university law center. he served as secretary of state of economic affairs and assistant to -- mayor miller is the assistant secretary for financial markets and the department of the treasury. in that role she advises the treasury secretary related to finance, markets and other important policy matters. previously, mrs. miller worked as director of the income division for t. roe price group and served as the research associate for the -- t. rowe price group and served as the research associate. >> ms. shapiro, you may proceed. >> thank you for inviting me to testify today on behalf of the securities and exchange commission regarding the implementation of title 7 and title 8 of the dodd-frank act involving a regulatory framework for derivatives. as you know title seven and eight will bring greater transparency to the derivatives market and with that to increase the stability of our financial markets. while implementing these acts, it is a tough act. we recognize the importance of this task and we are very committed to getting it right. these rules are