funding under the federal transportation bill. there is also a working group and maybe mark can speak to this if you have any other questions. but the working group that is working with ctc and cal tran staff and also local grups across the country. i am sorry across it is state. vta are local representatives working on this bill. working on this strategy, rather. which will likely result in bills being introduced either to deal with funding through december for... to fund half of the year's worth of a program with 50/50 to the state and regions or to fund a year to two-thirds to the region and one-third to the state or something in between. so stay tuned. >> this conversation that is happening at the state level will also impact how the funds that you see on the screen in front of you get distributed to the metropolitan planning organizations including mtc. so you will see that the over all funding that is anticipated to the bay area under map 21, is down for the surface transportation program and also the congestion, mitigation

budget, on federal spending.and it's done just that. doug elmendorf said, and he is trying to talk sense into his bosses in congress, fortunately he is not paid for performance, he said a couple of things which i think are relevant and intention. one is we cannot go back to the tax-and-spend policies of the past because the number of people 65 and older will increase by one-third between 2012 and 2020. the number of people over age 65 will increase by one-third over the next 10 years. that's the aging of the baby boom. the idea that we were going to fix the budget deficit, fix social security would do something about medicare before the baby boomers started collecting it is over but the oldest baby boomers are now turning 65. so we're going to have to have a bigger government than we had in the past despite what you hear from some candidate, namely republicans, think we can go back to something we had before. it's of course arithmetically possible to go back to smaller government but its extraordinary difficult i

well let's turn now to the federal reserve just today federal reserve chairman ben bernanke and now another round of quantitative easing to help the sluggish u.s. economy take a look we had to say. fortunately the form c. decided today on new actions electing to expand its purchases of securities and extend its forward guidance regarding the federal funds rate the committee will closely monitor incoming information on economic and financial developments in coming months and if we do not see substantial improvement in the outlook for the labor market we will continue the n.b.s. purchase program undertake additional asset purchases and employ our policy tools as appropriate until we do. interesting wall to help us figure out what he just said and what it all means joining me now is the host of capital account right here in our two lauren lyster i am nice to be on your show. ok so you know i think when a lot of people look at the federal reserve they don't understand that it's actually a private bank so when ben bernanke is talking about this quantitative easing you know to stimulate the econo

the court says permitting the federal government to force states to implement a federal program would threaten the political accountability to our federal system. if the states are forced to take this money, the notion is one way -- 1 has no way of knowing who to complain to. if you do not like the way the medicaid program is administered and it is administered by the state, you naturally complain to the state, but if they have no choice but to participate, that is a fundamental accountability problem and the court saw that. they also focused on the key been a link to the existing funding streams, and use that as the basis for finding the statute unconstitutional. as i say, in some of the coverage of the case, the spending power to issue was swept aside and largely ignored, but there is no mistaking the court's conclusion that there is a constitutional violation. the court says that we determined that section 1393, the. that allows the court to take away existing funding, -- the part that allows the court to take away existing funding was not constitutional. the sixth issue is the sev

we're doing it at the federal level. different members of the federal team here between hud, hhs, the army corps, and many others are here. thatç is at all levels of government and all levels of the faith-based community. we need to bring togetherç the whole community. having a plan will make a difference in businesses. we have seen it time and time again. in the floodings in tennessee last year, businesses were wiped out. businesses were wiped ád tornadoes in alabama. because those cities andç towns saw there was a recovery plan, they were both ready to move out of the city. one was wrangler. the otherç was a &oç oç smi. they wereç going to leave the town they were in because everything was droid -- was destroyed. because there was a plan and quick action, the locality had a plan. the businesses decided to stay. with that, jobs stayed. people stayed. with that, people had hopeç. the workers, the community because we, not just government, the whole community came together. as much as anything else we do, all thi

speaker, pardon me is what about the federal -- is one about the federal reserve and what the federal reserve is doing to help with jobs and the economy. we talk about that here on the floor of the house on a regular basis, what are we doing to help jobs and the economy? we have about 30 bills in the senate that we passed here in the house that would stimulate the economy and help american workers get back to work. but the senate has failed to act. in the absence of action by the senate, in the absence of being able to move legislation to the president's desk, the economy continues to flounder. president has orchestrated about $800 billion for the stimulus programs but that has not gotten the economy back on track. not only did we not get unemployment down, it conned to rise system of what we have, and so few folks in america talk about it, we have an independent federal reserve that engages in monetary policy and these days in economic stimulation. i want to point, mr. speaker, to an article by, i'll call him dr. phil graham. he's senator phil gramm from the great state of texas but

it's a 1982 sec filing from the company that purchased federal pacific.osely, it reads, ul listings on circuit breakers made by federal pacific have previously been obtained through the use of deceptive or improper practices. according to this respective expert, federal pacific tricked government inspectors by using a hidden remote control to force the breaker to trip. if it was not tripping properly. >> they represent the abnormal hazard, this would be replaced. >> reporter: take a look at this internal document we received from bay area transit, it reads, there have been too many instances of failures with the old federal pacific electric secondary distribution panels. and he goes on to say, failure of this old equipment has caused delays to bart train service and created potentially unsafe conditions. bart replaced the federal pacific equipment. >> take all the breakers out of it, the wires over here, new breakers. that's the story. >> this homeowner also decided to remove federal pacific from his home's electrical system, removing the risk from his ea

this is not the federal recovery framework. people in this room are government, state, local? that is a lot of view? anyone here from the private sector? awesome. do we have any voluntary agencies? great. any citizens? everybody is a citizen, obviously. [laughter] any aliens? [laughter] çit is key that we are all here together to interact. when it comes to recovery, it is neighbors helping neighbors. we're there to support. the local and state governments and federal government. we do not come in and take over. that is what is key when we look at this and how it really is the whole community. i want to point out the other agencies that leadçç the recoy support function and looking at all ofç the agencies that have participated. çto bring in the whole entire federal family. that is one of the things i found most frustrating three years ago when i came to be in fema and looking across the ñrwhole inter-agency. çatñr the state level, we were always callingç trying to shop around to find out how we could get more resources b

these ideas of course are keeping america secure, taxes low and the federal, and having a federal governmentthat is not only smaller but smarter and more accountable to its people. we did a number of ways and this breakfast is one of those. but before i begin i'd like to take a moment to reflect upon the events of 11 years ago today that changed all of our lives as we know it. would you please join me in a moment of silence to remember those who lost their lives on 9/11 and to those who have sacrificed and continued to risk their lives in defense of our nation today. [silence] >> thank you very much. you all happened have an opportunity to go to new york and you decide to go to ground zero, make sure you do one thing. you have to have tickets so you can go online to do that and it's all about crowd control, the number of folks around the country to go to new york and decide that they want to, you have to have tickets so please make sure that you do that. it's a great, great opportunity and is one of the most moving things that i've done of late. as for this when there are a number of individ

funding under the federal transportation bill. there is also a working group and maybe mark can speak to thf

also had electrical equipment problems with feder pacific.it reads, there have been two instances of failures with the old federal pacific electric secondary distribution panels. and it goes on to say, failure of this old equipment has caused delays to b.a.r.t. train service, and created a potentially unsafe conditions. b.a.r.t. replaced the federal pacific equipment. >> so we take all the breakers out of it. run the wires out of here. new breakers. that's the story. >> reporter: and the home owner daniel schmidt decided to remove federal pacific from his home, removing the risk from his east bay home. >> i know it will be safer. it is a panel that has quite a reputation. >> so this breaker is so hot that it is smoking. it will not trip. >> you cannot run the risk of having breakers that might malfunction. >> the consumer product safety commission tested the federal pacific breaker back in the '80s and legal challenges followed. the cpse never force ad recall and neversome believe they did not have the budget for that legal fight. now we spok

the federal reserve buys financial assets, not good and services.ltimately the federal reserve will normalize its balance sheet by selling these financial assets back into the market or by allowing them to mature. in the interim, the federal reserve's earnings from its holdings of securities are remitted to the treasury. in fact, the odds are strong that the fed's asset purchase programs both through their net interest earnings and by strengthening the overall economy, will help reduce rather than increase the federal deficit and debt. on the second concern, my colleagues and i are very much aware that holders of interest bearing assets such as certificates of deposit are receiving very low returns. but low interest rates also support the value of many other assets that americans own such as homes and businesses, large and small. indeed, in general, healthy investment returns could not be sustained in a weak economy. of course, it is difficult to save for retirement or other goals without the income from a job. thus, while low interest rates do impo

stocks move up following the federal reserve's announcement.s all this work and do the actions by the fed really matter? that is the big question. charles payne is here. >> i'm here to break the tie between gerri willis and lou dobbs. i'm leaning with gerri willis on this okay. listen, i've been pounding people own stocks, buy stocks, buy stocks. people making a ton of money that's the way you counteract this. talk about the tsunami of money and what has worked. obviously the stock market. the s&p was 896 when it all started. now it 1498. mortgage rates were high, now they're sub stacksly lower, typically at all-time lows. that stuff has worked. what hasn't worked? by the way the what are the fed's main two gigs? inflation, they tweak the cpi. i don't even believe that. talk about the tsunami of money. unemployment rate. 8.1. nine million people dropped out of the labor force since this kicked in. gas prices from 2 clin $14 to $3.84. median home price from 199,000 now, 187,000. only thing i can see it helped out banks. it hasn't helped stocks.

and then projects that receive less than $5 million in federal funds and where federal funds are less than 15% of total cost are also categorical exclusion. i am not terribly concerned about any weakening of the federal environmental protection statutes because we have such a strong environmental protection law in california, but there's something to be said for what happens for states that do not have the general protection. the other area where there are very major changes this year -- this is the infrastructure fund that is facilitating the financing of projects like transbay -- the program has grown enormously at something like 400%. from the $120 million we had in 2012, we are jumping to $750 million, and there is a pretty clear recognition in that context of the importance of bringing in the private sector. several provisions that make it easier to deal with public/private partnerships, and also a significant expansion of the ability of the state to add will see any federal aid facility. those are significant highlights. one negative -- the facilities program is being funded at

later in the tape, governor romney characterized the americans who pay no federal income taxes. >> pelley: his figure was correct, but there is controversy about how he described the 47% as dependent and not taking personal responsibility. the governor responded today and here's jan crawford. jan? >> reporter: well, scott, romney is making it clear he is not backing away from those comments. in fact, he is using them to draw a sharp contrast between his views on government and what he says are the president's. >> this is a message i'm carrying day in and day out and will carry over the coming months, which is this is a decision about the course of america and where we're going to head. >> reporter: in an interview this afternoon on fox news, romney stood his ground, using his remarks about dependence on government to hit the president for high unemployment and growing numbers on food stamps. >> but the intent that i want to talk about and that that was intended to speak about was the fact that you have a great divide about whether we want a government that's larger and more intrusive and

not the federal reserve. the federal reserve has two key functions. one is to maintain the stability of the currency, and the second is to try to maintain full employment as well. sometimes those things are in conflict and they try to juggle them. this congress has looked pretty critically on the federal reserve. we passed through the house and to try to get abill clearier idea of what has happened. he has been more forthcoming than most but reserve chairman have been in the past about discussing things openly. the last thing i would ask the calller to consider is you're really want politicians to be in charge of the stability of the currency? they think politically it's usually react according to the election cycle. that is not a good thing for the country. i do not know anyone who was in finance that actually thinks we should get rid of the federal reserve. the people in finance think it is an indispensable stabilizer in the financial system. attack, y to bash an attacd but it was passed in 1913 for a reason. we have had a lot of currency instabilit

i would like to thank everyone at the federal level and the regional level.reat win for sam Ñ and for o. thank you very much. [applause] >> thank you. our partner to the east, ac transit. my colleague is here for them, elsa ortiz. [applause] >> good morning. as president of the ac transit board of directors and on behalf of my fellow board members, i want to think the federal transit administration and administrator matt millen for showing an understanding of our $7.5 million grant that will help us maintain bus-reliable service. i also want to thank our east bay congressional delegation for always supporting our efforts and for working so hard on our behalf of the securities grant appeared we know that without congresswoman lee to helping our perpetual fight for fundamental would be much tougher. we need the funding to replace our existing bus fare box system and support equipment. fareboxes are a required element for recording and collecting cash fares on our buses. system failures not only result in lost fare revenues but also costly maintenance, expenses

federal system.the notion is that if the states are forced to take the money, then one has no way of knowing who to complain to. if you don't like the way the medicaid program is being mored and it's being administrated by the states, you naturally complain to the states if they have no choice but to participate that's a fundamentally accountability problem. they saw that. they focused on the key of being the link to the existing funding extremes and use that as a basis for finding the statute unconstitutionallal. as i say, in some of the coverage of the case, the spending power issue sort of got swept aside and largely ignoring. there's no mistakes dowfort's conclusion there was a constitutional violation they said, quote, we determine that section 1396c to take away the funding dmkd including preexisting fund -- is unconstitutionallal. they only struck down the one provision of the medicaid provision. they didn't carry along with the severability issue. they steed ready to strike it down but to str

the federal government doesn't have the data. it's not like they're sitting and not giving it away out of respect for the states. they are not collecting from the states. there's very little the federal government does that his hamstring in what goes on at the state level and state unemployment insurance benefits are paid simply for a matter of being unemployed through no fault of your own and meeting the requirements of been actively looking for work and available for work. but you have a lot more flexibility with the federal program because it's not -- at about this is the right one to say, but it's not an entitlement are paid into the same at the state program is. some of the ideas that were floated about by something that ended up being called the president's jobs bill, whatever that was called, american jobs something -- american jobs that. it was called bridge to work, which was really modeled after a program that people on all sides of the aisle have supported them or which allows workers the opportunity to keep their skil

under the funding formula, under the funding formula, more federal lands mean more federal money. be a sent the hastings amendment -- absent the hastings amendment, lake, cook and st. louis counties, all within the sponsor of this legislation's district, stood to receive another $1 million annually. we raised the questions regarding this payment from the time the bill was heard in subcommittee until the bill was reported to full committee. in fact, i sent letters to each county commissioner in these counties, trying to learn more about how these funds are used. i received two responses, both indicated they support the current formula and relied on these payments to compensate lost property tax revenue. if there's no objection i would like to enter both these letters into the record. the chair: without objection. mr. grijalva: thank you. surprisingly no one wants to talk about these payments because it would be considered earmarks. earmarks which the sponsor voted against supporting along with many other members of his caucus. i represent a district with a lot of federal lands. my

patience pays-- stocks soar as ben bernanke and the federal reserve launch a new round of stimulus to boost the economy. but will that strategy, known as q.e.-3, work? we ask former fed governor randall kroszner. that and more tonight on nbr! the federal reserve announced today a bold plan to spend billions of dollars to buy bonds to rev up the u.s. economy and create more jobs. on wall street, investors applauded the move and stocks surged. as policymakers wrapped up a two-day meeting, they said they took this action because, without it, economic growth might not be strong enough to create jobs. but the fed's latest round of quantitative easing, what everyone calls q.e.-3, is different this time. the fed will buy mortgage backed securities rather than u.s. treasuries. it will buy $40 billion per month. more importantly, the fed said the buying is open-ended-- it promised to keep buying until the job market "improves substantially." and the fed pledged to keep interest rates "exceptionally low" through 2015. stocks rallied right after the fed announcement. the dow jumped 206 points, t

or will this be a matter of federal benefit? >> remember, there are two parts of the act. when it was originally passed a dent in 1996, all of the talks then was this question of, the fear that if one state has gay marriage, all of the other laws will fall like dominoes. two guys will get married in boston and moved to baton rouge and say, enough to honor our marriage. they passed this initially to say, states need not recognize same-sex marriages from other states. but that issue is not being challenged in this case. i do not know if you care to speculate why harold coe, who signed the first brief in the case, on the supplemental brief income of his name does not appear. do you think he's taking his way back to academia? thus he disagree my new leaf? >> this is inside, baseball -- inside baseball, washington, d.c. kind of thing. it will be signed by the solicitor general office. agencies or departments that are heavily involved will sign the breeze as well. as was mentioned when this case came around as well, the state department signed the brief, an indication that the s

if the federal government cannot articulate a limit on the commerce power, the federal government typically loses. the challenge for the states in this case was to articulate a limit on spending power. you know, what is your ticket will limit on the spending power? the point is the inducement of money becomes to coerce? there's an important difference, which is that the government can't articulate a limit on the commerce power, it calls into question the whole process of enumeration in the limits of the federal power. if the courts can't articulate any phone on spending power about when it becomes coercive, the logical consequence of that is not that anything goes. the logical consequences to be due to a friend in power. by the spending power so dangerous, congress can tell the states to do things or induce the states to do things that couldn't track them to do directly to the great example is the dole case, where congress gave states money in order to change their drinking age, even though congress couldn't correctly ordered them to change the drinking age. but of course after the prince c

he has evolve on any other issue and the federal marriage amendment and figure out being for federalism and the tenth amendment are good republican positions. that said i don't think he is going to do any of that. i am going to take a wait and see attitude on his part. >> the vice president -- >> i love criticizing him. i would vote for him in a heartbeat. >> that is not an endorsement by the cato institute. >> the governor will be the keynote speaker it was announced that the republican convention so that is a good thing. i don't have any preferences and unfortunately even if they have more socially tolerant views on these issues they disavow them once they become a candidate. >> let's ask audience the questions they have. please wait to show your call. wait for the microphone is the crucial thing because everyone in the room has to hear you and we are going out over the internet or television and please announce your name and if you like your affiliation and i would also say please make sure that your question is in the form of a question. thank you. if you want to direct it to one of

how federal agencies use their funds on such activities.aware that conferences are an important part of staff development and can help improve the quality of federal government work, however we must make sure that they do not turn into resort vacations funded by taxpayers, many of whom are continuing to struggle to make ends meet. madam speaker, the g.s.a. incident tarnished the reputation of government workers who dedicate their lives to public service which i believe is unfair. this legislation as amended will prevent a few reckless and selfish individuals from engaging in activities that discredit the entire federal work force. madam speaker, i urge the support for this bill. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. the gentleman from illinois. mr. walsh: i continue to reserve. just inquire if there are any speakers. mr. clay: i do have one, yes, i do. the speaker pro tempore: the gentleman from illinois reserves. the gentleman from movement. mr. clay: i'd like to yield four minutes to the gentle

>> you are looking around. >> oh, federal? i am sorry. >> good morning, commissioners. fort, deputy director for policy and programming with the authority. you should have a powerpoint presentation in front of you and we are also loading it up on the screen. and i am going to give you an introduction to map 21, which is the federal transportation bill that replaces safety will lieu. >> i am going to go over both and i am going to talk about the major reforms including the expansion of transportation alternatives and project delivery along with the impacts of the transit systems in san francisco. >> so, map 21 is on the 600-page bill, folks are still combing through the pages to determine what is exactly in the bill. so there are some changes that we will see that we might not even recognize until the end of the 24-month life of the bill. the major reforms were primarily driven by the house transportation and infrastructure committee chair. representative john mika and the senate environment and the committee chair barbara boxer. michael was focused on delivery reforms a

convincing talk from ben bernanke today that the federal reserve is ready to act to boost the economy. >> susie: i'm susie gharib. investors around the globe welcome the fed chairman's speech with a spirited rally. >> tom: planes, trains and automobiles. 33 million americans are heading out for the holiday. the travel outlook for labor day and beyond. >> susie: that and more tonight on n.b.r.! >> susie: ben bernanke made a strong case today that the u.s. economy needs more stimulus and he's ready to give it another dose to boost growth. his message was clear and delivered with conviction. investors around the world had been waiting eagerly to hear the fed chairman's speech in jackson hole wyoming and stocks in the u.s. rallied in reaction. here are the highlights: bernanke said even though the economy has benefited from fed policies over the past few years. the outlook is still quote "far from satisfactory." he described the high unemployment rate a grave concern. he believes the fed should continue using non-traditional policies to spur growth. and bernanke concluded by saying the fe

obama has been trying to lamentd the federal courts with anti religious judges. his first appointment to the in 1deral judicverary was david hamilton. alas, he is typical. he worked for acorn and for indian. they s ad ou. he wash nostat for blocking progress life and pro decency law. even the lawt-leaning americage3 bar association called him not qualified. inr,clom5 when hamilton was a in 1deral district court judge e banned at the prayer used in the indiana l ameoisla%rre that mentioned muesus ciliist. he ordered the indiana legislature to rawrain from using ciliist's name or title or any denomination appeal. however, at the same time hami nduon s ilea it is permissbamale for the legislature to use the word allah. fortunately that decision was d ther%roused. however, president obama then promoted dhen id hamilton to a liin 1time muudgeship on the ua. court of appeals for the seventh circtlt. in 1deral muudge michael r. dane is another aclu type judicial appointments made by president obama. he must take the cpeae for havig the most extraordinary exalted notion

and i'm not looking for more federal spending. i mean, i know it is the nature of politics for someone in my posion to promise more free stuff. we'll send money, we'll dhis, d le hales about education. i really care about education. i care so much about our kids that i don't want to saddle them with trillions on trillions of dollars of debt when they come out of school. so i'm not willing to add more spending to get people happy m in ssaok sedcation is done at the state level, the federal government provides spending for special needs students and low-income students but in terms of implementing the common core if you've chosen it, congratulations, work on it and do it within the resources of your o state. >> anotheruestiofromver re >> governor romney, i'm a new york city parent and member of the school board elected in new york city. you talk about choice, but charter schools represent only 4% of the schools at least here in new york, voucrs don't really fill the bill. fow yo cit pts let, and urban parents, choice means improving

the federal regulation would actually issue in the federal government has any authority whatsoever to impose any burden on the landowner. the corps of engineers and the epa are acting beyond the clean water act and beyond the scope of the constitution they have no authority to question or a bird in a private landowner's use of his or her land. they can point to nothing to get the private landowner indication of whether the land is burdened. they don't have the notice because there are no clear regulations that the statute is indicating whether or not they are subject to the federal regulation. and that is a serious due process problem. the due process problem for fox television when it is clear to be eliminating, or the due process problem for a company like general electric and other general electric case in the d.c. circuit that doesn't involve the first amendment concerns. they made clear this is not a first amendment rule, this is a due process rule that individuals and intelligence need to have a basis of knowing what the law requires before they can be penalized to comply with t

and that puts more pressure on the federal reserve to act when it meets next week. >> susie: i'm susie gharib. intel warns about chip sales and analysts blame it on the shift to tablet computing. >> tom: he's "n.b.r.'s" longest running market monitor guest and he's been in the bull camp for three years. tonight investech's james stack tells us why he's pulling in his horns. >> susie: that and more tonight on "n.b.r."! >> tom: hiring stalled in august. expectations were for robust job growth last month. but, susie, when the numbers were added up, they fell way short. >> susie: tom, today's disappointing jobs report is fueling speculation the federal reserve will have to step in to further stimulate the economy. here's a closer look at the job numbers: businesses added only 96,000 new jobs to payrolls last month: economists were expecting 125,000. meanwhile, the unemployment rate slipped to 8.1%: down from 8.3% in july. >> susie: but, that decline is not what it seems. we have two reports looking at the labor market and the political reaction to today's job numbers. we begin with erika m

but the federal not going to change. but the federal government, if you could just say, we've got to smelt -- spent a little bit of money on that instead of just building crocker sees. that is the general thought process. >> -- building bureaucracies. that is the general thought process. >> as far as spending in the block grant programs, we have some spending that is specific around recovery services. we are doing a new initiative with hud and some of our partners at a cms and trying to put together the services and support and housing it would need to maintain housing. i can talk about that for a long time. i agree with you that we need to do more recovery support services. we need to incorporate that into our grant making program to the extent that we can. >> any questions from the press? >> this question is for pamela hide again. can you elaborate what you -- with what you are doing with the cms? you mentioned what you were doing with hud and with the mass. what is cms's role? >> we are looking at services that can be

and the -- the -- the federal role that's evolved over the past 35 years has been one of the federal government being on the side of disadvantaged kids, kids who don't have resources. c-span: what's your reaction when you hear the president say there should be more teachers in the classroom, and the federal government ought to fund another 100,000 teachers? >> guest: i--you know, i think that there--it's--i--i believe in smaller class size. i--i--i think that, as a parent, i know that that's better than large classes. but i think that the federal role would be better served if the federal government were, for instance, to pick up the cost of special education, which is draining so many districts and states. and if the federal government paid f--just for what it mandates, it would release billions and billions of dollars, and then districts could then make the decision about whether they want to have higher teacher salaries or a smaller class size or some combination of both. but i worry about this becoming the federal role because i don't think the capacity is there from the federal