ezra klein is filling in for rachel tonight. always good to see you, ezra. >> good to see you too, michael. thank you very much. thank you for you at home sticking around for the next hour. rachel has the night off tonight. let's be honest here, july 26, 2012 was a terrible, horrible, no good, very bad day to be mitt romney. even if you consider yourself the staunchest mitt romney supporter out there, i think you have to admit today didn't go exactly according to plan. the kickoff of romney's overseas trip has been a disaster. here's a lead paragraph tonight, "mitt romney is perhaps the only politician who could start a trip that was supposed to be a charm offensive by being utterly devoid of charm and mildly offensive." it's been a bad day for mitt romney, a bad day that all began with this seemingly innocuous comment he made to our own brian williams last night. >> in the short time you've been here in london, do they look ready to your experienced eye? >> it's hard to know how well it will turn out. there were a few things th

visit progressive.com today. >>> tonight's ezra klein challenge is the hardest one yet.. all right, here's why. the most important thing that happened in the economy today was this incredibly, insanely confusing sentenced flashed in bloomberg terminals in every hedgefund and investment bank across the globe. draghi: yields disrupting policy transmission are in ecb remit. this is a sentence, one sentence, or fragment, that caused a huge stock market rally. it's a sentence that could mean the eurozone is going to survive, and it is a sentence that when i first saw it, i understood three words, "draghi," "are," and "in." i understand it now, and in two minutes, you're going to understand it too. all right, do we have a clock? okay. go. let's begin at the beginning here. draghi is mario draghi, the guy who runs the european central bank, europe's ben bernanke, and as much as the crisis there is anybody's fault, it is his fault and that of his predecessors. they are the ones that control how much money is available. now, the simplest way to understand the euro crisis is greec

i say that's probably true, but still, "the ezra klein challenge" is next. >>> tonight's "ezra kleinhallenge" is the hardest one yet. i mean, i've got -- this is going to be tough. all right, here's why. the most important thing that happened in the economy today was this incredibly, insanely confusing sentence flashed across bloomberg terminals and every hedge fund and investment bank across the globe -- "draghi: yields disrupting policy transmission are in ecb remit." this is a sentence, one sentence, or a fragment, that caused a huge stock market rally. it's a sentence that could mean the eurozone is going to survive, and it is a sentence that when i first saw it, i understood three words -- draghi, are and in. but i understand it now, and in two minutes, you're going to understand it, too. all right, do we have a clock? okay, go. let's begin at the beginning here. draghi is mario draghi, it's a guy who runs the european central bank. he's europe's ben bernanke. and as much as the crisis there is anybody's fault, it is his fault and that of his predecessors. they are the ones who

joining me now is melissa harris-perry and ezra klein.why no party hat for today's tenth anniversary? where's the hat? >> you said nobody showed up, i was like i'm here. i like this point, because as soon as we say it's ten years old, then we remember that of course the obama presidency is only three and a half years old. for this deficit to lay at the feet of president obama, it would have to basically be in preschool. but instead this is a school-age deficit. and that's because this deficit began under president bush. it has to do with tax policies. and it is those tax policies that romney is suggesting bringing back. >> slammed the gop talking tax policy. he slammed them for refusing to help the middle class, only the rich. take a listen. >> they basically want to give $5 trillion in new tax cuts mostly for the wealthy on top of the bush tax cuts. i don't think top-down economics works. i believe that we grow this economy from the middle out. from the bottom up. i believe the heart and soul of this country is making sure the working pe

ezra kline joins me next. in the rewrite tonight remember when jon stewart went on a cnn show just to say how bad that show was? we have a perfect reply good excuse to show you that video again tonight. that's coming up. ask me what it's like when my tempur-pedic moves. why not talk to someone who owns an adjustable version of the most highly recommended bed in america? ask me about my tempur advanced ergo. goes up. goes up. ask me what it's like to get a massage anytime you want. goes down. goes down. [ male announcer ] tempur-pedic brand owners are more satisfied than owners of any traditional mattress brand. ergonomics. [ male announcer ] tempur-pedic. the most highly recommended bed in america. to learn more or to find an authorized retailer near you, visit tempurpedic.com. >>> remember when jon stewart went on crossfire to hear how much he hated crossfire, a left/right argument show on cable news. he couldn't stand it. not long after he went on crossfire to say how much he hated it, crossfire was canceled

but still, the ezra klein challenge where we test that is next. teaching the perfect swing begins with back pain and a choice. take advil, and maybe have to take up to four in a day. or take aleve, which can relieve pain all day with just two pills. good eye. which can relieve pain all day with just two pills. put me at 5 timesd out my greater risk of a stroke, my first thoughts were about my wife, and my family. i have the most common type of atrial fibrillation, or afib. it's not caused by a heart valve problem. i was taking warfarin, but my doctor put me on pradaxa instead to reduce my risk of stroke. in a clinical trial, pradaxa® (dabigatran etexilate mesylate) reduced stroke risk 35% better than warfarin. and unlike warfarin, with pradaxa, there's no need for regular blood tests. that's really important to me. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding and seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if y

ezra klein is filling in tonight. good evening, ezra. >> good evening, and thank you, and our thoughts are with ed and his family at this difficult time. thank you to you at home, as well, for sticking around for the next hour. rachel has the night off. >>> today on the floor of the united states senate, the top deck, harry reid, said something that he doesn't normally say. he said something that is kind of unusual, actually. he said, you know what, why don't i just play it? >> that is poppycock. >> he said poppycock. the reason that harry reid said the totally awesome word poppycock on the senate floor today was because he and the top republican in the senate, mitch mcconnell, were trading jabs back and forth about which side is to blame for nothing getting done in the senate this year. and when mitch mcconnell blamed that on the democrats, well, out came -- >> that is poppycock. >> that is awesome. what happened in the senate today aside from the poppycock reference was something truly remarkable. in a chamber that

ezra kline joins me next. in the rewrite tonight remember when jon stewart went on a cnn show just to say how bad that show was? we have a perfect reply good excuse to show you that video again tonight. that's coming up. ♪ ♪ ♪ [ male announcer ] what's the point of an epa estimated 42 miles per gallon if the miles aren't interesting? the lexus ct hybrid. this is the pursuit of perfection. idide? the lexus ct hybrid. you're not my dad ahh!! hey honey, back feels better, little dancing tonight, you and me? dr. scholl's pro inserts relieve different types of lower body pain by treating at the source so you're a whole new you. go pro with dr. scholl's. yes, you do! don't! do! whoa, kitchen counselor here. see cascade complete pacs work like micro-scrubbing brushes to help power away tough foods even in corners and edges. hmm! cascade. love it or your money back. >>> remember when jon stewart went on crossfire to hear how much he hated crossfire, a left/right argument show on cable news. he couldn't stand it. not l

when you tax -- >> that's the kind of analysis we need, ezra. yes. >> yeah.'m happy to be able to provide that for you. >> i want to open this up to the panel and talk about how the president, discuss how the president delivered the message. the "washington post" says his re-election campaign has doubled its effort to allow the george w. bush era tax cuts to expire for the wealthiest americans. a policy that should be an easy sell to the remaining 98% of americans. but where he needs to be fiery and passionate, he stood in a business suit behind a lectern in the executive mansion making a presentation that was almost apologetic. >> yeah, i'm not sure i really agree with that. i think the timing on this first, if you want to talk the raw campaign politics, the timing on this makes a lot of sense because we're having all this discussion about mitt romney's finances, mitt romney's effective tax rate, mitt romney's offshore holdings. this is a great time to introduce something like this subject. but what this really is, this is setting the stakes for this electio

ezra klein, karen finney and i will all try to count mitt rom flee's money. and crazy joe walsh is back in the rewrite tonight. since crazy joe never found the time or courage to serve in the military, he now considers it unfair that his opponent actually did. and he is attacking iraq war vet and double amputee tammy duckworth for not trying to hide the fact from voters that she served in the military. i know this sounds crazy. but this is crazy joe walsh we're talking about here. crazy joe is back in the rewrite tonight. nnounc er ] think your kids are getting a dependable clean in the bathroom? [ gasps ] think again. try charmin ultra strong for a clean with fewer pieces left behind. its diamondweave texture is soft and more durable so it holds up better for a more dependable clean. fewer pieces left behind. charmin ultra strong. lookin' good, flo! feelin' good! feelin' real good! [ engine revs ] boat protection people love. now, that's progressive. call or click today. ♪[linkin park "burn it down"] ♪[rock] ♪ [narrator] can't wait for the honda civic tour f

ezra cliniklein stay with us. coming up democratic super pacs raise enough money to keep obama in the white house? can they do that? we'll talk to robert draper about his piece in "the new york times" sunday magazine. thousands show up to watch san diego's fireworks show, all 15 seconds of it. fireworks are expensive. we'll be back. ttd#: 1-800-345-2550 ttd#: 1-800-345-2550 let's talk about the cookie-cutter retirement advice ttd#: 1-800-345-2550 you get at some places. ttd#: 1-800-345-2550 they say you have to do this, have that, invest here ttd#: 1-800-345-2550 ttd#: 1-800-345-2550 you know what? ttd#: 1-800-345-2550 you can't create a retirement plan based on ttd#: 1-800-345-2550 a predetermined script. ttd#: 1-800-345-2550 at charles schwab, we actually take the time to listen - ttd#: 1-800-345-2550 to understand you and your goals... ttd#: 1-800-345-2550 ...so together we can find real-life answers for your ttd#: 1-800-345-2550 real-life retirement. ttd#: 1-800-345-2550 talk to chuck ttd#: 1-800-345-2550 and

ezra klein, karen finney and i will all try to count mitt rom flee's money. and crazy joe walsh is back in the rewrite tonight. since crazy joe never found the time or courage to serve in the military, he now considers it unfair that his opponent actually did. and he is attacking iraq war vet and double amputee tammy duckworth for not trying to hide the fact from voters that she served in the military. i know this sounds crazy. but this is crazy joe walsh we're talking about here. crazy joe is back in the rewrite tonight. the postal service is critical to our economy, delivering mail, medicine and packages. yet the house is considering a bill to close thousands of offices, slash service and layoff over 100,000 workers. the postal service is recording financial losses, but not for reasons you might think. the problem ? a burden no other agency or company bears. a 2006 law that drains $5 billion a year from post office revenue while the postal service is forced to overpay billions more into federal accounts. house bill 2309 is not the answer. zagat just gave he

ezra klein is in for rachel mad dow tonight. ezra klein is filling in for rachel maddow tonight. >> good evening and thank you very much. thank you to you at home for staying with us for this hour. rachel has the night off. in colorado today, the suspect in last week's mass shooting in the denver suburb appears in court for the first time. james holmes had what is called a first advisement this morning. he sat with one of his court apointed attorneys. reporters in the courtroom said his lawyer shielded him from victims of the shooting and the relatives who had come for the hearing. he is not expected to be charged formally in the case until next week. the trial itself could be as much as a year away. prosecutors say the man stormed into a midnight premiere of the new batman movie last week in the city of aurora. he came in with tear gas and guns and wearing enough protective gear that police almost reportedly mistook him for one of their own. though officers arrived in two minutes, he managed to kill 12 people and wound 58 other

joingeow i melissa harris-perry and ezra klei messa,hy noarty hor day' tenniveary? >>ou sdobod showed up, i was like i'm here. i like this point, because as soon as we say it's ten yrs old,hen we remberhat of ursehebamaresincys onlyhree and hal yea old. for isefic t l at the feet of president obama, it would have to basically be in preschool. but instead this is a school-age fici an thasecauhisefic bega und predentbu. it has to do with tax policies. and it is those tax policies that romney is suggesting brgingack. >> slaed topalkiax poli. he smmedhem for refung t lp t mideclas onl t ri. ta a listen. >> they basically want to give $5 trillion in new tax cuts mostly for the wealthy on tf the sh t cuts don'thinp-do ecomics work i beeve thawe gw th ecomy om t mide ou from the bottom up. i believe the heart and soul of th cntrys makgurehe workg pele c fee surit inheiddl cls. ande're grong o mdle clas >> ezra, it is really about two differing opions about how taxes ought tbe brohtnto vernntrreived on saygrick wn,he herayin fro tiddl expa. >>harp dierin d on tng that frust

. >> one of the troubling things here, ezra, you could go back to the 1994 mid-term elections when a similar process of obstruction took place with the newt gingrich led republicans against bill clinton. it worked like a charm in 1994, obstruction worked even more like a charm in 2010. what republicans learned in both cases is, if you get people frustrated enough, they just vote the ins out and the outs in. and now we're in a situation with divided government where people are even angrier, where you have a congress that is in much worse repute even than the last one. where are voters to turn? figuring out who to hold accountable is fuddy now, and it's perhaps the biggest problem with have given the way the parties are operating. they not only gridlock and do great damage as you say, and it really is damage to the country, the fabric of the economy, but they leave voters with little opportunity to figure out who general winly is -- genuinely is to blame, and, frankly, the press corps is an unindicted co-conspirator to that. >> i cop guilty to that. norm and tom mann, co-authors of" it

my family migrated to california because of my uncle ezra. a man with no formal education, but one brave enough to file a lawsuit during the frightening days of the depression. he filed a lawsuit against his employer, a major manufacturer after he was injured on the job. it took years for me to understand his bravery. i'm here because a young white lawyer filed that suit on his behalf. and a mysterious louisiana judge ruled in his favor. all seemingly impossible things for the era. but one day a check for $2,000 did arrive. and i went with my uncle and aunt to berkeley to pay for their house on ashby avenue. i saw the check. it was a miracle that he did not pay the price of being tarred and feathered as promised by the white men of monroe, louisiana. it was uncle ezra that led my immediate family on their exodus from the south. so no matter how hard i am willing to work to get into broadcasting, i was willing, it could not have happened without help. and in this case, again, someone we didn't know, the president of our country, lyndon johnson

nothing is out of the question. >> thanks, ezra klein.it. >>> up next, the bubba factor. bill clinton is once again front and center on the trail. why are both candidates fighting so hard to claim the clinton mantel? ron reagan weighs in. aspirin, really? i haven't thought about aspirin for years. aspirin wouldn't really help my headache, i don't think. aspirin is just old school. people have doubts about taking aspirin for pain. but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. what's different? it has micro-particles. enters the bloodstream fast and rushes relief to the site of pain. visit fastreliefchallenge.com today for a special trial offer. is now in our new starbucks refreshers™ -- a breakthrough in natural energy. made with real fruit, starbucks refreshers™ are delicious low calorie drinks you can feel good about. ♪ rethink how you re-energize. ♪ get a boost of natural energy with a new starbucks refreshers™, in

it's turn to ezra klein.ezra, thanks for coming in. >> good evening, man. >> let's get to preside obama's plan in a moment, but i would like you to assess mitt romney's 59-point plan first. specifically, does it do much for short-term economic growth? >> no, it's literally anything they can think of to get to a high number so they can say over and over they have a 59-point plan. it's anything from repeal obamacare, pass a balanced budget announcement, to very, very small things related to specific regulations. what it doesn't have is short term economic support. so there is potentially an individual tax that came up later, but there's nothing serious about infrastructure, about state and local jobs. it's not clear how it would get money back into the economy. whatever you want to say about cracking down on china or sighen a free trade agreement with latin america, those things take times. republicans had the problem that barack obama doak all of their ideas and if mitt romney said we should pass a pay roll ta

ezra, thanks for making that run over here. i hope we captured it on video for our website, which is tradition when rachel does that. so now i know why the money is in the cayman islands. it's against the law to even ask about it there. >> it's the chicken and the egg, which came first, the law or the money? >> with him, who knows. but this in the world where he's the regular guy out there trying to appeal to people. the regular guy on a jet ski, with a $90 million house besides the lake. this cayman islands thing is not going away. >> no, this cayman isles money, remember, there was a swiss bank account that mitt romney had forgotten about at one point. and this is the stuff that's leading to the change in the battleground polling. the republican consultants have begun to agree that what obama is saying in the battlegrounds is beginning to make battleground voters think, this guy does not really understand our problems. i heard a political consultant say to me once that the single most important poll result is do they care abo

we called it the ezra klein challenge.he challenge was this, could i make you care about spanish bond yields in under two minutes. my argument was simple, if you're picking one indicator to watch to see if it was going to survive or fall, you would pick spanish bond yields because it would be bad if greece had to leave the euro, but it would be survival. there is no world where spain goes down and the euro endures. if spain goes down, the euro is going down. spanish bond yields, the thing you need to remember is the higher a bond yield is, the higher a country has to pay when they borrow money. spain can't afford to borrow the money necessary to finance itself, and the eurozone is going down. and that means our economy might be going down, too. well, since i did that segment, spanish bond yields have kept going up. this graph may not look so scary, those two lines, but it is actually terrifying. it's spanish bond yields at record highs. this is way above the level which the gryo, which spain and the euro can survive. tonig

i kind of share ezra's optimism.senator patty murray outlined the plan with respect to the bush tax cuts saying the democratic party would let them all expire and then introduce a tax cut plan for the income below $250,000. is that the uniform democratic party position now? secondly, what makes you think there's not some in the party to buckle under the pressure that they'll allow a huge tax increase occur under their watch? >> we don't want to see a huge tax increase on working families, people making less than $250,000 a year. let's protect them. we tugt agree on that on a bipartisan basis but what senator murray was pointing to, having gone through a super committee despite her best efforts, she was pointing to the cliff, the deadline is really forcing us to be honest about deficit reduction an doing in it a timely fashion. i don't want to use that kick the can analogy anymore. i'm so sick of it. but it is a reality in this town. people always look for excuses. december 31st, no excuses. do something or pay the pr