doubt a weaker economy works for the budget and stronger economy is a lot better for the budget. the challenge is how to move the economy. is not easy to move $15 trillion economy. >> thank you. i do have a question about sequestration by want to submit for the record. as part of situation as we're looking at we need to understand the impact of that and i appreciate the information you put out on that but the significant impact to sequestration needs to be understood by the committee. i submit that for the record. and will turn it over to mr. hensarling. >> revenues today are roughly at 14% of gdp. doesn't your latest estimate under a policy baseline show that revenues go back to their historic norm of 18% in 2014? >> a little over 15% today and improvement in the economy and other factors that we push off. >> the alternative fiscal scenario which is the policy baseline shows spending going from historic average of 20.5% to 34% of gdp. is that correct? >> that sounds right. >> with respect to revenue one is episodic related to lack of economic recovery. is that a fair assessment?

economy. we talk about the challenges of creating jobs in the current economic environment. this is one hour and 20 minutes. >> the morning. welcome to the committee hearing. the topic is what is the real debt limit. we appreciate the panelists we have here today. i want to commend senator demint who led them on spearheading this meeting. i would yield to him for the opening statement. >> thank you. i appreciate all of your work and your staffs where to put this together. i want to thank all of our panelists for taking the time to be here. a couple of months ago, everyone was in a panic about the president mentioned we might not be able to pay social security and talk about reneging on payments to contractors. we talked about a pretty dire conversation with the united states here today. this debt limit was arbitrary and set by congress, we could change by a debt limit deal. my concern is where is the real debt limit? when do we hit the wall where no one will lend us any more money? perhaps the

we studied was marxist economy and marxist leninist economy so. who were you teaching is how did you get an opportunity to learn about the transition to learn about how what an economist can do with a crime saving the economy to change it. first of all i was not very good at yukon and political economy. i was always proud of the dead great. and i was interested in. history and laws of. mathematics thirty health certain exact science this offsite is being able to count years to reason to calculate my best advise as well physicists are not a not a synonym for that reforms i never recruited a politician columnist who are educated on the source of the problem is. pollard was it not opened german a former soviet union so he could travel and also the possibility to study in united states that you did. education which is called master of public and station business and. your converse of that certainly hope when you were when you were pretty i was the youngest. central school of presidents and this is was ok was. i was over this opportunity to say i spent

we studied was marxist economy and marxist leninist economy so who were you teachers how did you get an opportunity to learn about the transition to learn about how what so an economist can do with a plan to save it economy to change it who taught you first of all i was not very good at econ and political economy socially i was always proud of got a better grade. that i was interested in other subjects like history of but also mathematics third health certain exact science. is being able to count yes the reason to calculate it very very my best advisors were physicists or mathematician i responded to forms i never recruited politician columnists who were educated on the source of a problem is and thirty pollard was a bit more open. is german of the promise of a union so he could travel and they also offered to the possibility to start the united states so you did. education which is called master of public administration business and mr wrong your converse of that said that certain that when you were when you were pretty i was the youngest. central school of presidents of this is in

we studied was marxist economy and marxist leninist economy so who were you teaching is how did you get an opportunity to learn about the transition to learn about how what so an economist can do with a client state economy to change it who taught you well so paul i was not very good at econ and political economy. i was always proud of the fact that the great. second i was interested in. history because of the mathematics thirty health certain the exact science. being able to count years to reason to calculate my best advise as well physicists or math or not to some of these market reforms i never recruited caught almost who were educated and the source of the problem is. pollard was a bit more open german a promise of a union so we could travel and i was a possibility to spur the united states well you did. education which was called master of public administration business and your converse of that certainly hope when you were when you were pretty i was the youngest one was called. president's office and swore so and i was. i was over this opportunity to say i spent almost two yea

hello and a very warm welcome to our business update fresh concerns about the european economy have caused another wave of turbulence in the global stock markets stocks swing shockley by hundreds of points and while investors are way the chances of the meltdown in europe jacob knell for morgan stanley says russia doesn't have much to worry about so far. russia is actually a much better position and other central european countries and say turkey in the region because it has less strong trade and investment relationships with europe because it's more of a global trading country and it depends on the possible oval commodities such as all which depend on growth in emerging markets such as china and india above all so russia's fate is totally dark with the growth of china and india not at the moment looks reports and hasn't been affected by the downturn in developed markets as compared to other. countries i think russia reasonable with brazil as essentially a commodity exporter which is exposed to movements in commodity prices which are affected by global growth it's not like china and india w

we are here to build a new economy. a new economy safe from casino speculation. that's why a liberal democrat business secretary is putting a firewall into the banking system. protecting the people who have worked hard and saved. a new economy that safeguards the environment. that's why a liberal democrat environment secretary is creating the world's first green investment bank, spending three billion pounds to create green jobs. a new economy where the lowest- paid get to keep the money they earn. that's why a liberal democrat chief secretary to the treasury has put two hundred pounds into the pocket of every basic rate taxpayer and taken almost a million workers - most of them women - out of income tax altogether. a new economy based on skills. that's why one liberal democrat minister is creating a quarter of a million new apprenticeships, and another is investing in schools and early years education. a new economy that works for families. where men and women can choose how to balance work and home. that's why liberal democrats are bringing in shared parental l

the economy is not a fixed pie. when you expand the labor curve, a simple economist will say the price of labor goes down and we're all hurt. the more people that work here, the more people that are chasing jobs and we're all doomed. wrong. the expansion of the available labor force creates opportunities that did not exist before. you have innovation and entrepreneurialism that increases the actual size of small and medium-sized businesses. they consume and that expands the demand curve. you have a dynamic economy for 90% of u.s. born workers that enhances their wages. the other 9% got whacked up side the head with globalization and immigration and everything you can list and they need help. getting rid of immigrants doesn't really help them. the final point is if you look at the last 15 years, 25% of publicly traded companies in the united states are essentially from the bay area region and one out of four was started by an immigrant. we have great data on this because it's all transparent. you can look it up. you

a lot of good but the economy was a good drag you had a couple of years but economy was contracting a bit but on the whole the economy was expanding quite fast i thought you had only had thatcherism under tony blair we are you know we can't be carried out of if we still have it we like it a father got a wife but my point is you can have factories and you can have that kind of structural form in the economy was shrinking at six six percent seven percent a year i just i just think it's impossible it's too but it's too much to ask of a population you can have in a popular you could have an economy that's growing two to three percent a year is still a big ask it's tough for people people lose their jobs people have to change the kind of work they're doing industries have to change it's very very difficult it's easy to sit around a t.v. studio and say you have structural form is actually hard on the ground but to have that kind of intense contraction just because it's not going to let these point is a good one though again about diversion development but the problem is that unlike englan

economy growing again. he's george shultz. most people remember him as the secretary of state who helped end the cold war, but he's also a well-respected economist. he got a ph.d. from m.i.t. and was dean of the university of chicago business school. he was budget director, secretary of labor and treasury under president nixon, and secretary of state for president reagan. when i talked with him earlier today, i asked him what needs to be done to fix the economy. >> susie: . >> focus on things that are permanent. people respond to changes that they regard as long-lasting. so have a plan that puts in place what's needed for long-term growth without inflation. and keep it there. >> mr. secretary, what do you think of president obama's deficit cutting plan that he announced today? >> i do think this ten-year projection business winds up with a lot of the spending cuts, as i say, back-end loaded, coming in the latter part of the ten years. when this congress has nothing to do with that, nothing. it's a new congress. so the things t

, but we've got an economy where 3% of economies may over half the taxes, they create jobs, provide investment capital, and frankly, that's not going to solve our problem if you look at the data for the last ten years, the increase in our deficit is mostly attributable to an increase in spending including a lot of discretionary spending. social security has not contributed to our debt at all. in fact, if we had not borrowed $3.6 trillion from social security, we would be more in debt than we are today, and so this is not all on the entitlements. this is on belief of the government that we need to direct the economy. i think the difference of opinion here is that the government is the primary stimulater of the economy versus those of us who think the reason america was so exceptional and prosperous was we were a bottom up economy with millions of people starting businesses, innovating, being entrepreneurs. those are the people we seem to want to attack right now. 40% of those who have income over $# -- $200 thorks, 40% of the income is small business income, and so i understand the need to bala

we don't know in modern economies what helps an economy continue to grow and to remain strong and to prosper as it inknow vates, particularly as the economy and the culture and the society becomes relatively well off. it is a known phenomena that it is hard for individuals who are relatively well off to take outsized risk and put everything on the line. back to my original story, if you think about the swimmers in the contest, in order for the united states to prosper, we need lots of swimmers who are willing to get in the water and swim and save nothing for the trip back because they are the type of person who will do whatever it takes, work as hard as is needed and get to the as is needed and get to the other side without saving

raising taxes in this economy. that's the kind of sustenance that republicans will feed on and say, we just can't do it. and you've warned against it, as well. you think there's too much emphasis on taxing the rich? >> well, first of all, i believe that the -- that as you look at how we're going to balance this budget, and get a hold of the debt over the long run, clearly eryone has looked at it. all the bipartisan commissions, extremely good work done by alan simpson and erz kin bowles and their commission. they say you've got to have spending cuts and economic growth if you want to bring the budget back into balance. you have to have all three. and the least harmful tax increases are the ones that senator mcconnell, and people who agree with him, hate the most. and that is restoring the tax levels that were through whe i was president for those of us in high income group levels. that's the one that does the least harm. i agree we ought to have corporate tax reform. i agree that in this world, where there's a lot

>> about china's economy?i think inflation is still very, you know -- >> charlie: and the threat of inflation is felt most in food? >> yes, th foodecause at the moment because the basket for that index but ihink also the housing rent should have a share that's also very high. >> charlie: just to make sure i derstood you you think that the real estate bubble in your judgment will not burst. >> if we doing thingsike sof lending and -- >> charlie: and how will you achieve that? >> we cannot give measures to quickly, to heavily so we allow the growth rate to become lower and lower sometimes. >> charlie: whatdo y feel will happen in europe and if there's a contagion will it are have a huge impact in the global economy. >> i think rope's proem is very limited. there are several small countries have a worse spending -- >> charlie: greece and italy and portugal. >> yeah. all the european countries reach agreements of common sense to deal with that to fix that. i think it's very easy to solve. in greece you have is 2.6

economy and if the u.s. government is trying to implement massive saving measures it will be very difficult because they increase taxes and cut spending what will be as a result probably the economy will be slowing down more at least in the short i mean i can't really afford that at this moment because the deficits are already out of control so i was saying some far off bear reorganisation s. as we have to happen in the eurozone is probably the only solution follow western countries going forward but it's not all it's not there are a lot of emerging market countries gulag a lot better ok. we are asking the fed to do much too much is it really raining do you decide to break the u.s. economy in the global economy i mean are we asking too much of the fed right now. the federal reserve should focus on one thing and one thing only which is to maintain a stable dollar european central bank actually has the right idea they have a single mandate now they're not maybe not doing a great job of it but their single mand

>>> is president obama a victim of the economy or is the economy a victim of president obama? welcome to "your $$$$$." i'm christine romans. ali is off this week. this is a professor at the university school of maryland. peter, the president will be forced to run a re-election campaign in a terrible economy. you say that's not because of the legacies of president bush or financial crisis but president obama has been his own worst enemy? >> absolutely. he inherited a mess but he's made it worse and gotten in deeper. look at health care costs. the health care bill did not resolve the problem. they are rising steeply. banks continue trading, do not make loans. dodd/frank has not succeeded. most importantly the president promised to do something about energy and china when he was campaigning. he promised us thousands of green jobs. he shut down drilling in the gulf more or less. he hasn't replaced them with another industry. in china he simply hasn't acted. that trade debt is choking the economy, there's not enough demand for what americans make and the economy doesn't move forwar

everyone in a way has benefited from the few sort of economy the chinese in a way have because they've been able to keep down the united states were already defined in a certain way isn't it i mean at the end of the day you can't have an entire economy running on debt to police that this is no you can't but the fact is i think there's been too much complicity in the global system that is at fault in a big problem the global system is not even just state that it's the fact that we have too much debt corporate private and public and the fed to do that the real economy is being undermined by all the kind of hot money circulating around the world so we really need to do is tie finance to the real economy no one has really come up it's not in the west not in the east not in the north and also in the south so i think it's a global problem which i don't think we've heard real solutions. not from country it's very political i think the political will is actually from the very countries that you say and now starting to say why should i listen to the u.s. and the reason is the spin i follow the

the austerity agendas warning that continuing down the road of spending cuts will push the global economy to the brink of disaster instead of doing that the united nations urged governments to adopt policies that increase workers' wages as in put your money in the pockets of people who will spend it and get the economy working again as the report read given the lack of growth in employment and wages in europe japan and the united states their policies should aim at continued stimulation of their economies instead of trying to regain the confidence of the financial markets by prematurely cutting government spending. translate that into normal english stop trying to please the banks ters start trying to help the workers but the un saw is what's going on in europe near the end of last year the united kingdom passed an austerity plan complete with massive spending cuts and government worker layoffs what happened when he got sucked out of working people's pockets their economy hit the wall during a mere two tenths of a percent two tenths of a percent over the last three quarters of a year prac

economy. darren gersh has details. >> reporter: first there's the super committee. the lawmakers charged with coming up with $1.2 trillion in budget cuts in the next 10 weeks met publicly for the first time today, and many began by talking up the need for bipartisan action. >> it is time for both sides to bite the bullet, to put the country first, get the economy moving and implement a long-term deficit reduction plan. >> reporter: most washington analysts have low expectations the committee will actually do that, but some members are talking up an ambitious agenda. >> comprehensive tax reform would spur economic growth and job creation and should be part of our discussion. >> reporter: next, there's monetary policy. in a speech in minneapolis today, federal reserve chairman ben bernanke said he was surprised by just how cautious american consumers have been, but he gave no hints about where the fed is headed next. an important new clue may come when the fed updates its forecast later this mon

still feels like the economy is bad.n does matter in politics, sometimes stronger than reality. >> candy crowley, diane, greg, nice to see all of you. have a wonderful weekend, folks. >> the president wants $447 billion to create jobs. republicans are hardly ready to sign that check. is this about policy or politics? we'll take a look flex. sle. not with priority mail flat rate boxes from the postal service. if it fits it ships anywhere in the country for a low flat rate. that is easy. best news i've heard all day! i'm soooo amped! i mean not amped. excited. well, sort of amped. really kind of in between. have you ever thought about decaf? do you think that would help? yeah. priority mail flat rate shipping starts at just $4.95, only from the postal service. a simpler way to ship. i tell you what i can spend. i do my best to make it work. i'm back on the road safely. and i saved you money on brakes. that's personal pricing. american jobs act passed on the hill. he'll need support from republicans in congress to get that

economy. although output began to expand two years ago, the pace of recovery has begun to slow and the economy remains in a slump. cbo published its most recent look in august. in our view, incoming data and other developments since early july suggest the economic recovery will continue, but at a weaker pace than we had anticipated. with output growing, cbo expects employment to expand slowly, leading by the unemployment rate as depicted by the dots in the figure close to 9% to the end of next year. all these figures are taken from the written testimony and nearly in the order in which the appear. as a result, we think a large portion of the economic and human costs of this downturn remained ahead of us. the difference between output and our estimate of the potential level of output shown by the gap between the lines in the theater -- of the figure has accumulated so far to $2.50 trillion. by the time output rises to the back of its potential, we expect the cumulative shortfall to be about twi

they have a high-wage economy.continue to produce things that they can export around the world. what we've done here is we've given up in many instances. we have bad trade laws, we have tax laws that reward people for moving jobs overseas. if we'd focus on manufacturing here and all of us coming together, labor, government and business and business and labor all working together, we can compete with anybody in the world because if you don't compete, if you don't manufacture things, ali, you can't compete in the global economy. remember, where the manufacturing goes, so does the research and development. all the new cutting-edge products will be moved overseas rather than here because they haven't focused on manufacturing. >> ultimately and we've seen that happen. what is it we're likely to manufacture here in the united states that can be made into products that can be sold competitively around the world? >> we can make anything here. we can compete against anybody in the world if you give us a level playing field.

and yet it gets cast in far different terms that these great leaps in in the american economy and in. innovation and technology. somehow it's all from the ingenuity of the tribe and sector alone in the public sector just gets in the way it's an interesting point you bring up looking at the example of infrastructure if we want to stay on that what do you knighted state government really be able to create jobs in the way that haven't passed air as quickly when you have a lot of red tape one person that report that if you tried to do you know the hoover dam today it would take a decade to get it approved. certainly hoover dam today would require you know determine its environmental regulations it didn't exist at the time. so you could always come up with those kinds of examples that would suggest it will take longer one response is so what it takes a few if you use longer you can still do still when the work should be done to put people to work that was seventy eight an over professor of international economic law at chapman university meanwhile the play hour siege of the u.s. embassy an

the way you get more revenue is get the economy going. the government is a big winner when the economy is moving. right now, we've got -- we've thrown a big, wet blanket over the private sector economy. we've borrowed too much. we've spent too much. we're dramatically overregulating every aspect of the private sector in our country, and now we're threatening to raise taxes on top of it. that's not going to get the economy moving. >> isn't the reality, leader, that you laid out the political playbook for republicans, and that's to make this president a one-term president? you laid that out before. is it your view that it's political malpractice to do business with the president on this point? and by taking any tax increases off the table, to either jump-start the economy or deal with the deficit problem down the road, you say, we're not going to give him anything now. the window is closed, let's have it out in the election? >> no, the window is not closed. i mean the election is next year, in case anybody forgot. it's not this year. we're

economy. in january 2009, the economy was losing more than 800,000 private sector jobs a month. private-sector jobs, growth returned in march of 2010 and we have now had 18 consecutive month of growth. however, in august, we gained only 17,000 private sector jobs, which is clearly not enough. we face a very real threat going back into a recession. that is why i believe we need to take steps to generate near-term economic growth and jobs while we simultaneously address the long-term debt threat. the unemployment rate remains far too high and as of august the unemployment rate was 9.1%. long-term unemployment is up sharply. in august, long-term unemployment, those unemployed for 27 weeks or longer, with 3.9%. that is up dramatically from the .8% average over the period from 1948 to 2007. the median duration of unemployment is also up sharply, climbing to almost 22 weeks in august. we know that some of the drag holding back the recovery is caused by the nature of the recession that preceded it. e

know so it's a political move hardly a military necessity and also considering the state of the us economy i don't think it's a wise move in financial terms but when obama had this reset policy it would brush at least he was achieving something corp russia and she issued but this new deployment is aware i don't tag an amazing russia which is going to turn into maybe some kind of new arms race which is totally pointless not only because the effectiveness of the she dog is problematic gargle but also because it's going to cost a lot of money and unnecessarily because frankly i don't think iran is in a position to attack anyone in the west. this season the way that with libya. colognes a very warm welcome to the business program fresh concerns but the european economy has caused another wave of turbulence on the global markets stocks soaring sharply by hundreds of points daily and while investors are way the chances of the meltdown europe take nell for more than stellar says russia doesn't have to worry about so much. russia is actually a much better position and other central european countr

street he believes that wall street is necessary to make the industrial economy work when in. reality it's just the opposite of the liberal myth americans have been calling the room it's only long but it's been alive for decades why is it well why do you still call it's a myth the what do you mean by that it. just means you don't have bama believe the liberal a neo liberal media it's been alive because the. akademi of the neo liberals led by the chicago school have controlled all of the prestigious. academic economic journals i teach at the university of missouri and kansas city and my students in order to get promoted from assistant professor to associate professor need to publish in these journals the neoliberals make sure that if you don't believe the myth that they've told that travesty of economic history that somehow you're not able to get a job and this is. shown for instance when the neo liberals came to russia after nineteen ninety russia believed that it was being told how the west developed and the west wanted it to develop the way it did in reality the neo liberals

economy stay with us. for the full story we've gone to. the biggest issues get a human voice face to face with the news makers. hello again the no come to swap live the interview felt an artsy a mother's love and today we're going to talk about money but other people's money and what's more important than our money. politicians and the columnist from i round the world have gathered in the russian city to. take part in the global political front the decision makers are going to discuss among other things how to avoid future economic crisis but does it mean the path out of the current economic recession is already clear and where does it lead here's the participants in the forum to wall street financial analyst professor michael. one of the goals of these two years here is love the little balls for us to find out how to reduce the gap between the rich and the poor the economic crisis doesn't shake europe and america is still a serious threat to the future of the euro zone has in doubt just recently america was facing the threat of a technica

we have a different economy. this is the third economic revolution and what andy grove from intel said was this idea that we're fighting a fixed plan... fixed mmunist economy, this is a battle between the free market and planned economy we now have a new for. it's called brazil, singapore, china, where we have nations that see themselves as teams and teams that have economic plans. our market fundamentalism is exactly the wrong medicine right now and that's what we saw in the debate in the republican party and that is going to kill the american economy in the long run. >> rose: you watched it last night? >> yeah. i pretty much agree mark and john. we know it's two-man race. obviously romney and perry there. romney is going to make the case he's aurnaround artist. the first sort of candidate c.e.o. and i think perry really is going to really double down. we've seen dhipl that in social security not clear whether or not he's left himself room to come iand say well, maybe it is a ponzi scheme but here's how we can r

he advanced economy is the advanced economy. when it comes to the session, the emerging market economies will not escape. when you are a big supplier of goods, you have clients around the planet. it is as simple and basic as that. rebalancing is in the global interest. it is also in the interest of each every time the of each and every country. woodrow wilson would have appreciated that. that would be in his dacha. but fourth and final -- my fourth and final r is rebuilt. countries have buffers, but they had to use them during the financial crisis. there needs to be rebuilding so they can protect themselves. this will enhance public investment and social safety nets. allowing countries to a ploy subsidies to protect the court from commodity price changes -- core from commodity price changes. i have a fifth r. that is the role of the imf. what is the role of the imf? it is a critical role. we can help countries with appropriate national, regional, and global surveillance. i am have been a minister of finance and trade. there are

find out what's really happening to the global economy in these kinds of reports. for the fall we've got. the biggest issues get a human voice face to face with the news makers. to get that increase in three more months of defense take place across europe as the world's ice hockey community remembers the forty three victims of the plane crash in central an emotional ceremony has also been held at the stadium and bellamy is with the team that was supposed to play the seasons of. president barack obama lays out his much anticipated jobs and before congress this comes as stagnation of the job market in the world's largest economy raises concerns over their ability of the united states to put out how they can only price it. the u.k. government faces legal action as doctors demand a new inquiry into the shady death of an arms inspector was the man he revealed britain's new drug had no weapons of mass destruction ahead of the invasion. news from russia and around the world this is with me hugh national thanks for joining us and our top story of.

economy. the u.s. will still be the second biggest economy in the world 20 years from now or 50 years from now. being the second biggest is a great place to live and great place for entrepreneurs and china has many challenges to get to being the largest economy in the world but we have to recognize the shift of 1960 to today. in -- we're not as dominant in the global economy and have to adjust in the united states to that reality, and the shouldn'ter we adjust, our economy will be better off. on the fiscal situation, people don't understand fully exactly what we're talking about in terms of the debt reduction levels we need. we have $14.5 trillion of federal dot. not counting fannie mae and fedy macwhich is 5 trillion. 14.5 of external debt. federal debt. not counting fannie and freddie. >> are you counting the debt in the social security -- >> yes. >> about 10.5 trillion -- >> if you count that debt -- and i think it's real debt -- we owe it to ourselves but it's okay. 5 trillion of fannie mae and fre

still feels like the economy is bad.ometimes stronger than reality. >> nice to see you. thank you. >>> the president wants money to create jobs. congressional republicans are hardly ready to sign the checks. this is web-based trading, re-visualized. streaming, real-time quotes. earnings analysis. probability analysis: that's what opportunity looks like. it's all visual. intuitive. and it's available free, wherever the web is. this is how trade strategies are built. tradearchitect. only from td ameritrade. welcome to better trade commission free for 60 days when you open an account. i tell you what i can spend. i do my best to make it work. i'm back on the road safely. and i saved you money on brakes. that's personal pricing. >>> president obama wants his american jobs act passed on the hill. he'll need support from republicans in congress to get that done. that has the president questioning the intentions of some on the right. >> they supported this stuff in the past. but they are thinking maybe they don't do it this tim

economy. it's "nightly business report" for wednesday, september 21. 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. captioning sponsored by wpbt >> susie: good evening everyone. my colleague tom hudson is on assignment. the federal reserve launched today a new plan to revive the economy. it's being called "operation twist." the goal is to lower long-term interest rates. here's how it works: the fed will sell short-term u.s. treasury bonds, replacing them with longer-term ones, creating a "twist" in rates. to help the mortgage market, it will continue buying mortgage- backed securities. operation twist is a $400 billion program lasting through june. the fed also said today it's keeping its key interest rate near 0%, saying there are "significant downside risks" to the economic outlook. three fed policymakers voted against the twist. the st

first of all in the american economy and it's a. looks like that the economic problems so far have. led to a run of popularity of right wing ideas in their heads as will the tea party for one year and does that mean that the us left today is incapable of offering the society offering business any any breakthrough ideas ways of overcoming it certainly is capable in what. the representative from ohio has often said however it doesn't get much of a hearing and the left is so confused by the fact that it's a democratic president obama that is leading the move to the right mr obama is known to the right of the republican party the tea party people such as michele bachmann voted against the bank bailouts the republicans voted against the bank bailouts this is a democratic program and the democrats are very much like tony blair's labor party in london moving to the right of margaret thatcher that's the irony of this the labor parties and social democrats throughout the world are moving to the right of the old right wing parties and what yo