with towering skyscrapers is the epitome of economic expansion in the largest country on our planet on top of the moscow federation tower is the tallest bar and restaurant in new york. and to discuss the world of millionaires. and those with extravagant appetites let's meet this week's guests. nice to meet them so tell me. yes absolutely true. because of the new. and new mentality of. ok. it's it's quite interesting. how you work for the famous company. and english club which appeared in the markets more than six years ago we have individual and corporate clients basically. as a concierge what's the strangest request that you've. it was in their quest to to be invited officially invited by prince charles or by prince william to the vetting of the weather the wedding of the area but the request was not just standing nearby in the georgia nearby the quest was personal for this client and to be among this three hundred guests on this waiting tables. so you feel that you have. this moment where i think to say no to the client because originally we can of course now also you know. also amer

if you have economic expansion, it will increase creation of jobs and allow people to rise. conservatives are the ones who argue that if you take away the fetters, it will help everybody, including tehhe poor. he accepted the premise of liberals that what you do with the poor is stick them in a safety net and leave them there. he is not fluent yet in the ideology of conservatism. >> mark mckinnon, a former bush and mccain adviser, says that romney is reinforcing the image of the republican party, out of touch, and that is why he is having problems with independent voters. how does he get past that? >> he is maladroit, but there is an inner toughness to him. his family history has been constant persecution. his family has always been ground down, run out of town, and each time they come back. that is the way he is paid he sees an expanding, but he is pretty tough. >> you just have to look at the way he came back in south carolina -- from south carolina. it reminds me in a way of clinton. you cannot not this guy out. he has inner toughness. >> he can take a bunch. >> he showed

unemployed have been jobless for more than six months, roughly double the fraction during the economic expansion of the previous decade. >>> uncertain job prospects and tight mortgage credit continues to hold back the demand for housing. low interest rates and the drop in home prices have greatly improved the affordability of housing, both residential sales and construction remain depressed. a supply of vacant homes stemming from foreclosure is keeping downward levels on prices and limiting demand for construction. in contrast to the household sector the business sectors that been a bright spot. manufacturing production has increased 15% and capitol spending has gone up driven by the need to replace aging equipment and software. most firms and factory and services have benefitted from strong demand in foreign markets over the past few years. more recently the pace of growth in business investment has slowed, likely because of concern cans about the out look and developments in europe. however there are signs that the concerns are slowing somewhat. if business confidence continues to improve, u.s

we saw economic expansion in this country in job growth and everyone benefited from that. so i think the chairman's exchange with the director as to getting our budget deficit manageable should be our goal. and if we can in fact reduce the deficit by one half as a especially of our economy, that is progress. that is real progress that's being made and that will be reflected in the growth of our economy and we'll all benefit from it. so i think that's an extremely important point. i appreciate the fact of how you are trying to balance the revenues and the spending over this period of time. i want to talk about the revenues for one moment because i understand that there's going to be a lot of comment about it. but if we were to use current law, as it relates to revenues, the previous tax cuts, allowing them all to expire and not extending the alternative minimum tax, what would be the revenue impact versus what you have in your budget over the ten-year window? do you have those numbers? >> i'm sorry, sir, you're suggesting if we were to allow the middle class tax cut. >> i'm

unemployed have been jobless for more than six months, roughly double the fraction during the economic expansion of the previous decade. uncertain job prospects along with tight mortgage conditions continue to hold back the demand for housing. although low interest rates on conventional mortgages and the drop in home prices in recent years have greatly improved the affordability of housing, both residential sales and construction remain depressed. a persistent excess supply of vacant homes largely stemming from foreclosures is keeping downward pressure on prices and limiting the demand for new construction. in contrast to the household sector, the business sector has been a relative bright spot in the current recovery. manufacturing production has increased 15% since its trough. capital spending by businesses has expanded briskly over the past two years, driven in part by the need to replace aging equipment and software. moreover many u.s. firms, notably in manufacturing but also in services have benefited from strong demand from foreign markets over the past few years. more recently the pace of

recognize it is because they didn't last very long.oesn't those policies produced one of the great economic expansions in our nation's history.ne o in fact, phil graham recently published an article in "the wall street journal" in which hc estimated that if the economic recovery under this t administration had tracked the y same as the reagan years, we t would have nearly 17 million more americans working today with per capita income about $5,500 greater than it is todaye which brings me to the point t that he made that i heartily agree with.with. he says we can't return to the n same policies that got us into this mess. amen to that. we have to ask ourselves, what were those policies?es the bush administration increased spending by over 2%. over 2.5% of gdp.. they expanded entitlement spending massively. they turned in massive budget deficits and they presided over an unprecedented government intervention in the housing market, encouraging bad loans bh dragooning taxpayers into covering of the losses for thoss bad loans.admini my beef with this administration, my concern overh this budget is that it

it they all they all have these vaticanus r vers tariffs we don't when you're talking about economic expansion period those economies didn't exist they were not the situation are they the competitors were not there that we are today that we did we just can't bring those jobs back well you know personally i think we can but clearly had i don't hear any and i don't i don't hear the president about this either during his state of the union speech president obama put forward a plan. to further help those who've been able to stay current on their mortgage payments this plan would allow borrowers to you know. their mortgages at lower rates and he's going to pay for this with a tax a small tax big banks banks with more than thirty million dollars thirty billion dollars in assets over congressional republicans are willing to even consider this that they say it's dead on arrival ironically the top ten congressional districts that would benefit from obama's plan are all occupied by republicans in the house of representatives. are lawmakers supposed to be representing their districts and not wall street

a set of new tools in our hands can solve our common problems and bring iowa unprecedented economic expansion, unparalleled economic and educational opportunities. that is our challenge. that is our mission. that is our obligation. [applause] thank you, god bless you. god bless the great state of iowa. [applause] [applause] >> just ahead, another state of the state address by illinois democratic governor pat quinn. after that, aol cofounder steve case and others speak at a live forum examining ways to expand economic growth and job creation. then the aspen institute hosts a live forum on israel's future in the middle east and the threat posed by iran. and later the senate returns at 2 p.m. eastern for an hour of general speeches followed by debate on authorizing federal aviation administration programs through fiscal year 2015. >>> this past week house and senate lawmakers continued negotiations to extend the payroll tax cut for workers. they'll continue their work on tuesday with a fourth public meeting. the cuts expire at the end of the month, and all sides agree it should be extended. the

and you lower the marginal rates and taxes so you encourage economic expansion and creation of jobs.ehow we can sign the poor to the safety net and we patch it and dependence is a liberal idea. it's not our idea and romney is a guy who came late to his new ideology and still can't speak it very well. >> bret: newt gingrich jumped on this saying my economic plan raises basically -- raises everything. it makes everybody better, tries to get everybody jobs. then his campaign was pointing out, this is a reason why mitt romney can't be the nominee. how big a problem is this in combination with other things that romney has said that obviously can be taken out of context? >> this is becoming a serious sound bite problem for mitt romney. you could put together a very serious attack ad that strings together corporations are people, and the 10 thousand dollars bet and i like being able to fire people, all using mitt romney's words, by the way. >> bret: many of them out of context. >> certainly that. although his campaign has done the same with barak obama. you can put those words together and

the slow easy way of the south as opposed to the rest of the economic expansion of the north. both sides regarded the other as the devil incarnate. the result was loss of 625,000 live. and massive disruption of the south economize by sherman's march to the sea. those scars still exist. the war is not really over as you know. the germans were next. that is an opposition that seems justified and the, quote, godless communists. conversion of russians from allies to enemy occurred almost overnight. it isn't difficult to see why. with the axis powers out of the picture there had to be an enemy in place to fill the resulting vacuum. although the ussr was repressive in the extreme it did not, as the american diplomat george can later argued, cast as the ultimate enemy because it's real goal late in securing its own borders. kgb files became open after the fall of the soviet union revealed russia's real fear was not of the united states but of the rearmed germany. there was no attempt to negotiate anything with russia. as stalin pointed out in 1946 the americans, negotiation meant capi

i will help our economy grow and create jobs and create more tax revenue for economic expansion and we'reo reform government. >> mcdonnell wants to see more of the current sales tax set aside for transportation projects. currently half a cent of the 5- cent tax goes toward transportation. mcdonnell wants to see it increase. president obama spent part of his day talking up the auto industry bailout at the auto show in d.c. after getting into a couple of electric hybrids, about a million people kept their jobs and the american auto industry is back at the forefront. the president also mentioned that some people were against the bailout. he did not mention any names, but mitt romney is among them. >> changes could be coming to a foreign exchange program accused of abusing workers. the state department will push for changes in the j1 summer work travel program. each year, the program allows 100,000 foreigners to work in the u.s. for four months. the program was criticized in the past for exploiting workers ers. under the new guidelines, workers could not work in factories and prohibited from

the slow easy way of the south as opposed to the restless economic expansion of the north. both regarded the other as the devil and the result was a loss of 625,000 lives and a massive destruction of the south that epitomized by sherman's march to the sea, violent beyond belief. the scars still exist, and to the south, the war is not over, as you know. e resentment runs deep. the germans were next, and in the quote, "godless communists. " it occurred almost over night and not difficult to see why. they had to be an enemy in place to fill the resulting vacuum. although it was repressive in the extreme, did did not, as the american diplomat, george canyon, was later to argue, have to be cast as the ultimate enemy because the real goal lay in securing its borders. kgb came open after the fall of the soviet union revealed that russia's real fear was not of the united states, but for germany. there was no attempt to settle anything. negotiation actually meant failure, and in any case, the cold war kept the u.s. busy for decades and the so-called perimeter defense, holding that a

what's happening, we are coming down from the early years of an economic expansion, getting closer to the median we have seen since 1936 in gap results. at these levels we are trading 25% discount to the median pe to the operating results since we started looking at them 25 years ago. close 10% discount on gap earnings back to 1936. >> we will leave it there gentlemen, good to have you on the program shall appreciate your time tonight. we will see you soon. sam, bob, take care of next. >>> he is bun of the world's wealthiest individuals and investo investors. prince alwaleed bin talal will talk about the european of the european debt skies are and tensions in iran and all that coming one prince alwaleed. >>> the prince is sit at this group's largest individual shareholder, top analysts standing guy react to his comments about the financial services giant. you are watching cnbc, first in business worldwide. hello, how can i deliver world-class service for you today ? we gave people right off the street a script and had them read it. no, sorry, i can't help you with that. i'm not author

. >>> copper up 3% on the thought that the economic expansion in the u.s.nd globally is still in tact. we're back in a moment. wheeeeeeeeeeee! whee whee wheeeeeeeeeeee-he-he-heeeeee! whee whee wheeeeeeeeeeee! pure adrenaline. whee whee wheeeeeeeeeeee! everything you love about geico, now mobile. download the new geico app today. whee wheeeeeeeeeeee-he-he-heeeeee! >>> today's strong jobs numbers have the markets rallying. let's look at the nasdaq. sitting at an 11-year high. so which are the big tech winners right now? our tech reporter, jon fortt, is in the house as he has been most of the week at the realtime exchange. jon. >> yeah, it's been a fun week here with you guys. look at the nasdaq at some particularly well tech. start with semiconductors. a brutal 2011 but bounced back nicely this year. intel, up 23%. that's done well. even as the pc market has not because they are just proportments amazing. qualcomm riding the smartphone wave. let's move onto software. the big name in software of course is microsoft. anticipation of windows 8 driving that stock

treasury secretary tim geithner says they're up due to a mix of economic expansion, speculation baysed on iran's saber rattling. this week, president obama emphasized that presidents aren't magical and it's all about politic. >> we hear the same thing every year. we've heard the same thing for 30 years. well, the american people aren't stupid. you know that's not a plan. especially since we're already drilling. it's a bumper sticker. it's not a strategy to solve our energy challenge. it's a strategy to get politicians through an election. >> it's not a strategy, it's a bumper sticker. but still, is the president himself playing politics this? the issue of gas prices is coming at us from both republicans and democrats. but when this issue was a loser for republicans in 2008 and for democrats in 2004, why are politicians so eager to go to this well again? joining me now, michael steele, former chairman of the republican national committee who has a quite nice haircut and msnbc political analyst correspondent for rock center, harry smith. >> i have no hair. it's real easy. >> i really app

and we saw economic expansion in this country and job growth and everyone benefited from that. so i think the chairman's exchange with the director as to getting our budget and deficit manageable should be our goal. and if we can in fact reduce the deficit by 1/2 as a percentage of our economy, that is progress. that is real progress that's being made and that will be reflected in the growth of our economy and we will all benefit from it. so i think that's an extremely important point and i appreciate the fact of how you are trying to balance the revenues and the spending over this period of time. i want to talk about the revenues for one moment because i understand that there's going to be a lot of comment about it. but if we were to use current law as it relates to revenues, the previous tax cuts, allowing them all to expire and not expanding -- extending the alternative minimum tax, what would be the revenue impact versus what you have in your budget over the 10-year window? do you have those numbers? >> i'm sorry, sir, you're suggesting if we were to allow the middle class

unemployed have been jobless for more than six months, roughly double the fraction during the economic expansione previous decade. on certain job prospects along with tight mortgage and credit conditions continue to hold back the demand for housing, although low interest rates on conventional mortgages and the drop in home prices over the years have greatly improved the affordability of housing. a persistent excess supply of vacant homes largely stemming from foreclosures is keeping downward pressure on prices and limiting the demand for new construction. in contrast to the households sector, the business sector has been a relative bright spot in the economic recovkocovery crec. capital spending has increased briskly. moreover many us firms, not only in manufacturing, but also in services have benefitted from strong demand in foreign markets over the past few years. more recently the pace of growth in investment has slowed. however there are some signs that these concerns are abating somewhat. if business confidence continues to improve, u.s. firms should be well positioned to increase both capi

unemployed have been jobless for more than six months, roughly double the fraction during the economic expansion of the previous decade. uncertain job prospects along with tight mortgage credit conditions continue to hold back the demand for housing. although interest rates and conventional mortgages on the drop in home prices in recent years have greatly improved the affordability of housing, both residential sales and construction remain depressed. our persistent excess supply of vacant homes largely stemming from foreclosures is keeping downward pressure on prices and limiting demand for new construction. in contrast to the business sector has been a relative bright spot in the current recovery. manufacturing oppression as increased 15% and capital spending by businesses has expanded over the past two years here and in part by the need to replace aging equipment and software. moreover, many u.s. firms have benefited from strong demand from foreign markets over the past few years. more recently the pace of growth and business investment has slowed, likely reflecting concerns about the domestic

to the white house they are expected to highlight their continued nato alliance, economic restoration, possible expansionf europe's fire wall and possible expansion in north africa and middle east. >>> conservative political conference begins in washington dc. they will gather for three days to discuss the state of the country google is one of the main sponsortea party plays co- host. >>> friday, mitt romney, newt gingrich and rick santorum expected to speak at cpac. ron paul declined the invitation. >> saturday maine's republican caucus starts and is expected to last one week. >> rick santorum set his sights on voters in missouri and colorado and has new poll numbers to push him along we will talk with that with chris wallace, gwen will be back for a weather preview. fox news sunday will be right back ♪ [ male announcer ] from our nation's networks... ♪ ...to our city streets... ♪ ...to skies around the world... ♪ ...northrop grumman's security solutions are invisibly at work, protecting people's lives... [ soldier ] move out! [ male announcer ] ...without their even knowing it. that's the value of perf

were able to get the budget not only under control but we got the budget balanced and salles economic expansion in the country and job growth and everyone benefited from that. so, i think the chairman's exchange with the director has to getting our budget in the deficit manageable should be our goal and if we can reduce the deficit by one half as a percentage of our economy, that is progress being made reflected in our economy and we would benefit from it. so why did that is an extremely important point and i appreciate the fact hell you are balancing the revenues and spending over the period of time. i want to talk about the revenue for one moment because i you understand that there is going to be a lot of comment about it, but if we were to use the current law as it relates to the revenue, the previous tax cuts allowing them to expire and not expanding the extending of the alternative minimum tax, would be the revenue that we would impact versus what you have in your budget over the tin your window? do you have those numbers? >> you are suggesting if we were to allow the middle class tax cut.

enhanced revenues and reduced spending and iran able to get our budget balanced and we sought economic expansion in this country and job growth and everyone benefited. i think the germans exchange with a director as to getting our budget and deficit manageable should be our goal. if we can reduce the deficit by one half as a percentage of our economy, that is real progress. that will be reflected in the growth of our economy and i think that's an extremely important point and i appreciate the fact that you are trying to balance revenues and the spending over this time. i want to talk about the revenues for one moment. i anderson is going to be a lot of comment about it. if we were to use current law as it relates to revenues, the previous tax cuts, allowing the mall to expire and not extending the alternative minimum tax what would be the revenue impact verses which you have in your budget over the 10-year window? >> if we were to allow the middle tax -- a middle-class tax cut? >> if we were to allow current law to take effect rather than continuing current policy as it relates to the revenue is

that is roughly double the fraction of the economic expansion of the previous decade. uncertain job prospects along with tight mortgage credit conditions continue to hold back the demand for housing. although lower interest rates on conventional mortgages and the drop in home prices have greatly improved the affordability of housing, both residential sales and construction remained depressed. dow would pressure and limiting the demand for new construction. in contrast to the household sector, the business sector has been a relative bright spot in the current recovery. many u.s. firms have benefited from strong demand from foreign markets of the past few years. more recently the pace of growth has slowed likely reflecting concerns of both the domestic outlook and developments in europe. however there are signs of the concerns are evading someone. confidence continues to improve, u.s. firms should be positioned to increase capital spending and hiring. larger businesses are able to obtain credit and historically low interest rates and corporate balance sheets are strong.

economic problems. it has spurred the expansion of government. which diminishes of course freedom and opportunity for all to rise and to succeed. you see, some politicians get elected by promising more programs and new freebies and new favors and then government grows to accommodate their promises. it never shrinks and that crowds out the liberating, individual initiative and the equal opportunity that america was built upon. it swallows up the work ethic that we try to teach our children, and it extinguishes that pioneering spirit. now often, they come to d.c. denouncing the place as, you know, the cesspool of corruption. but after a year or two, they decide, not a cesspool. more like a hot tub. and they're hopping in and joining the jacuzzi. well, america, it is time that we drain the jacuzzi and we throw the bums out with the bath water. we took a good first step in 20 ten. as much as the media wants you to forget that election, tea party patriots won a historic victory. we the people rose up and we spoke up and our message was we don't want t

and my refinery, the con he could phillips refinery did a $2 billion expansion during the lowest economic times. why? so they can ship it to -- down south, so they can put oint ships. no, to refine it. there's a better return on investment for refining a product and selling a product than just moving the bulk commodity product as it is. let's just take my friend's debate for what it was. so what if the crude oil goes on the world market? so what? don't we understand supply and demand? don't we understand kmad commodity products? the more supply of a commodity product on the market, the lower price, the demand stays the same. it's very simple. my friend's map had why would we ship crude oil down to the gulf coast and then ship it to china? where is harper today? harper is in china. why? because he's trying o cut the deal to move the pipeline west versus south. wouldn't that be a better plan for the chinese? and we know their great environmental record, the chinese. and we know the great record of moving crude oil across the seas. i would still say a pipeline is the most secure, the safest,

that is roughly double the fraction of the economic expansion of the previous decade.ncertain job prospects along with tight mortgage credit conditions continue to hold back the demand for housing. although lower interest rates on conventional mortgages and the drop in home prices have greatly improved the affordability of housing, both residential sales and construction remained depressed. dow would pressure and limiting the demand for new construction. in contrast to the household sector, the business sector has been a relative bright spot in the current recovery. many u.s. firms have benefited from strong demand from foreign markets of the past few years. more recently the pace of growth has slowed likely reflecting concerns of both the domestic outlook and developments in europe. however there are signs of the concerns are evading someone. confidence continues to improve, u.s. firms should be positioned to increase capital spending and hiring. larger businesses are able to obtain credit and historically low interest rates and corporate balance sheets are strong. ma