finan we have a permanent impact -- then we have a permanent impact, including an estimate of the distribution by industry and occupation as well as total spending in san francisco, and i think this will help answer those questions about permanent employment distribution and employment opportunities we projected by looking at an occupational basis. then we will also have ongoing impact from a new residence fending, spending from stadium events, and then i am going to talk about the property tax base on the project. i am going to start with a one time impact associated with the construction of the project. in sum, development will create thousands of construction jobs and inject billions of dollars into our economy. as shown, costs are estimated between $8.2 billion and $8.8 billion. that includes horizontal infrastructure costs, excludes items such as land are acquisition costs and items such as developer profits that are truly not construction costs. we want to determine what sort of employment would be generated from the sort of investment over 20 years. as you can see, on an annual basis, u

amer he talks to elisabeth leamy the finan the financial reform for amerigned this week will make a difference for american consumers. >>> now to a very unwelcome is on t in the gulf. a tropical storm just named onnie is on the move tonight, with the power and potential to crisis. set back efforts to control the oil crisis. the storm may be on a collision course with the spill site. tmans getting stronger, and hits rom gulf tomorrow. matt gutman reports from new uisiana govern late today, louisiana governor bobby jindal declared a state of emergency. this srter: with this storm tarrelling in, all operations at he spill site at a standstill, evacuatio evacuations began. nonessential workers already lready to shore. drilling on the relief well uspended. in place of the drilling mud ext week, nokill the well as early as next week, now, a pair of p of plugs. but for now, the drill ships and ce barges that control these remain.a robots will remain. nt land, essential equipment and personnel moving to higher ground. bp's even set up a hurricane hotline. >> the bp severe weather assessment team conti

republican john finan has put forward an amendment to do that -- john thune would reduce government spending the previous bill, the $32 million grant and various other things like that that are not really priorities right now when so many people remain jobless and the democrats want to extend unemployment benefits. they have to make choices if they do not want to add to the deficit. host: going back to the reform legislation, specifically on credit rating agencies. many hearings by congress and the commission, the finger continually being pointed at their lack of appropriate assessment of the risk valuation. your editorial suggests that this legislation does not address that problem. would you explain why? guest: because it still provides the rating agencies, the largest credit rating agencies, with a nationally recognized prominence. in other words, for all types of offical regulatory uses, it is necessary for pension funds and other types of investors to hold assets that are rated aaa or that achieve a certain rating by the nationally recognized credit rating agencies. this gives them a go