in screwed news i want to share with you now a very telling interview i had on tuesday with glenn hubbard a man who was the former chairman of george w. bush's council of economic advisors is the current dean of the columbia university graduate school of business and is a senior economic advisor to mitt romney it's a very high likelihood that if romney wins the presidency than glenn hubbard might become the next chairman of the federal reserve or even the secretary of treasury so i want to get to the bottom of is and romney's economic philosophy which seems to be rooted in reaganomics or supply side economics so i had him on the radio show yesterday and this was my first question take a look. at how is it that. after you know if you look if you look at the last sixty or seventy years of history we see that average wages tracked productivity almost per. sickly continuously until the reagan administration then wages flattened out and productivity continued to increase and all that money seemed to go to c.e.o. pay instead of wages we've seen now the result of reaganomics trickle down economi

ron hubbard, the founder of scientology.r when tom cruise and katie holmes announced their divorce. after what you're about to see, narconon is likely to be in the spotlight itself because of a recent string of patient deaths. harry smith has been investigating trouble in treatment. >> reporter: stacy dawn murphy was the apple of her father's eye. the beautiful 20-year-old former cheerleader dreamed of becoming a veterinary assistant. but stacy died this summer. a life cut short under mysterious circumstances. >> this is the smile, the cheerful, bubbly appearance that you would see her whole life. >> reporter: stacy's father, robert, and stepmother, susan, say stacy had struggled with an addiction to oxycontin, but stacy wanted to be drug-free. >> narconon, the most effective drug -- >> reporter: so she checked into a drug rehabilitation center she found online. it's called narconon arrowhead and it's located in a remote area of oklahoma. >> they are authorities on getting people drug-free and authorities on the mind. >> rep

professor hubbard, thank you for joining me. >> my pleasure.dra: the big question tonight, is it another round of stimulus really what our country needs right now? will this solve our problems? >> i don't think it would be particularly helpful. what the quantitative easing might do is lower modestly yields on 10-year treasury instruments that is not really holding back the economy. it is really the government that needs to act. sandra: another round of qe is not the way to go? >> i don't think so, no. sandra: and do you believe at this point the fed will enact another round of stimulus? >> that is up to the fed but i think in order to really help the economy we need to reduce policy, uncertainty and avoid going off the fiscal cliff. sandra: professor i think there is still obviously a lot of concern today about the future of the fed and what is going to happen there. do you believe that the fed actually has the tools that it is going to take to get us out of this, you know, what has been a very dismal economic recovery? >> well the fed certainl

glenn hubbard has been named in some quarters as a possible replacement for bernanke., i haven't really considered that. haven't given it any thought or deliberation at this point but he did say hubbard is a wonderful economic advisor. he went out of his way to praise greg mankiw, another advisor, economist from harvard university. ashley and lori. ashley: he welcomes the advice but will not take it apparently in this case. lori: political response. surprise, surprise. ashley: peter, thanks very much. as republicans gather in tampa to officially nominate mitt romney as the republican nominee for president tropical storm isaac gaining strength in the caribbean and headed right toward florida. isaac expected to be upgraded to a hurricane tonight or tomorrow. if isaac remains on its path it may make one-two punch, one for the republican convention and the other for oil platforms in the gulf. isaac is kped you would to travel up the west side of the state, hitting the gulf coast late tuesday and wednesday. we're keeping an eye on isaac and we'll bring you developments as t

earlier today i got a preview from glenn hubbard; he's romney's chief economic advisor, and dean of columbia university's school of business. my first question: if romney is elected president, what's the first thing he will do to get the economy growing again? >> what he has said that is has a very strong what he calls day one agenda, which woo would be using the resolution of the fiscal cliff the focus attention on the tax code and tax reform, particularly tax reform for businesses. he would also repeal obama care as much as can be done through state waivers and focus there. so it's a very tax, budget and regulatory focused economic agenda. >> susie: mitt romney has talked a lot about tax cuts, but we know that in a weak economy when you cut taxes, people save the money. they're still too afraid to spend it. so how would that get the economy growing again? >> well, you're making an argument about temporary tax cuts. what governor romney is talking about is permanent tax reform that would slash marginal tax rates across the board by 20%. but that's paid for in part by economic growth, but in

dean hubbard was helpful on e-mail. the romney campaign, though, was not able to make anyone available to go through the crucial numbers and get the bottom-line facts and resolve this. for example, they could have explained that, yes, everybody, some people are going to pay more in taxes under our plan because right now, half of americans pay no federal income taxes at all. if we broaden the base, that means some people who are paying nothing will pay something, sure, that's a tax increase, at least in the first year. so, yes, the tax policy center analysis is incomplete. it's imperfect. but to score a knockout, like sylvester stallone in "rocky iii," that would be a knockout. romney needs to get the $360 billion without raising effective taxes on a whole lot of people. so he could be the victorious one because here's the math on votes. if you're raising the tax burdens on 95% of american, you are not likely to win the job of president of the united states of america. joining us is stephen moore and matt bennett. great

liz: glenn hubbard is head of the business school. dave: maybe should reconsider appointing -- >> that is why -- [talking over each other] liz: thank you very much. we got new home sales, home-building c e o not afraid to tell it like it is. we will talk about what he says people are missing when they look at all the housing data. dave: a key meeting in europe today. top economist who says there are two countries posing a major risk to the european union and neither one of those is greece. he will tell us which ones coming. liz: what worries you about the european debt prices for our own economy? log onto facebook.com/ robert: and tell us what you think. what is keeping you up at night? so... [ gasps ] these are sandra's "homemade" yummy, scrumptious bars. hmm? i just wanted you to eat more fiber. chewy, oatie, gooeyness... and fraudulence. i'm in deep, babe. you certainly are. [ male announcer ] fiber one. with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yiel

the newspaper denied the catchy cartoon but every word was written by glen hubbard. here in the second to last paragraph is the claim. president romney would create about 12 million new jobs in his first term and millions more after that. which means, just to get to 12 million the first term, 250,000 jobs each and every single one of his 48 months in office. he says he will do that by cutting regulations and cutting taxes. does it add up? first the good news. there have been a few times in american history where this has happened. the chief economists of jp morgan notes it happened in the 1990s. then we were in the middle of the internet boom which was not sustainable and ended up bursting. that is where the good news ends for the romney jobs claim. since 1939 only 27% of monthly jobs reports have shown growth of 250,000 jobs or more. the research also notes the united states has never had four straight years where job creation was above a quarter of million a month. the longest stretch was only 11 months during the reagan years, september of 1983 until july of 1984.

as explained by a senior adviser glen hubbard who is chairman of george w.s counsel of economic advisers brought us the 2008 cataclysm and also made evident in governor romney's own tax proposal their idea is old-fashioned trickle down economics. cut tax rates on corporations and the wealthy because doing so they claim will increase wages and job creation. that is exactly what the romney campaign claimed yesterday in response to the brookings analysis and what hubbard and governor romney have been saying throughout this campaign. it is the old claim that if only we take care of the job creators, all will be well. but as we say let's go to the video or in this case, the charts. point one, corporate profits are already at an all-time high. as a percentage of gdp. higher than before the '08 cataclysm, higher than ever. point two wages are at an all-time low. as a percentage of gdp, having declined almost consistently since 2000 when the bush tax cuts were passed. and point three job creation, as we know, is also stagnant at best with unemployment stuck at 8.2%

hubbard, it says we're having you on to talk about the romney plan.oing forward as a romney plan? didn't that all change the day that mitt romney chose paul ryan to be his running mate? aren't those two now linked forever up until the election on mr. ryan's budget? >> well, they're linked but with due respect, governor romney already had a tax and bunk plan and that will be the plan for the campaign. it is very similar in many respects to what congressman ryan has been say bug it is a tax plan, it is a budget plan, it is governor romney's plan. one difference in romney/ryan and obama, is there will be leadership from the white house. there will be a budget plan sent to congress. >> how are you? >> great. >> looking at the next four weeks, you've got the republicans and democrats come together, they're going o have platforms, we're going to talk about taxes and tax reform. does the celebs of ryan change that dynamic with regards to a clear distinction between the role of government and the role of business and the role of the private sector? >> well, i

i will ask mitt romney's economic advisor glenn hubbard. he could be making some of the big decisions. and the dangers isaac left in its wake, we have a first-hand look at the costly aftermath and the cdc growing threat of west nile virus reported cases are up 40% in the last week, find out if isaac could make that number rise. if you pay the price of oil is high now, 35% of the world's seaborne oil went through the strait of hormuz last year, and mention of that was stopped. coming up, melissa francis is back showing us how they can keep it moving. an aircraft carrier helping with that dangerous job and will join us live from bahrain. stocks every 15 minutes, the floor of the new york stock exchange with lauren simonetti. traders reading between the lines and looking at what they heard. lauren: was asking several traders on the floor, there was probably a lot of short covering going on. volume is anemic right now, so a lot of window dressing, that is why we have such volatility. if you look at the intraday charts the market really get at 1

this is glenn hubbard. he is a top policy advisor to mitt romney.e used to advise guess who, yes, president bush like a number of other of his economic advisors. and back in the day hubbard gave an estimate of how many jobs bush's tax cuts would create and he was off by 8 million. and somehow he managed to sell mitt romney on this clunker of an economic plan. and now mitt is trying to pawn it off on us. you know what mitt? thanks but no thanks. i think we're doing just fine with what we have got. but we will take a look at your tax returns. and we know harry reid wants to. he is playing with mitt romney like a cat with a ball of yarn. plus florida governor rick scott and the nra are once again med medaling where they don't belong. and adult film fruit just got cooler. fruit on one side, cool on the other. new ice breakers duo. a fruity, cool way to break the ice. hey joe? yeah? is this a bad time? no, i can talk. great -- it's the 9th inning and your hair still looks amazing. well, it starts with a healthy scalp. that's why i use head and shoulders

. >> now, this week, madam secretary, glen hubbard wrote in the wall street journal that mitt romney'slan will add 12 million jobs in his first term. i mean, is that even a realistic projection given his policies he's proposing? >> if we continue down the same path he proposes which is to give tax breaks to the wealthy and not close loopholes or look at the desire of bringing jobs back home and making those good investments in our safety system because we -- you know, i just don't see us going down a good path. i think we stick with the president's plan that he's offered, president obama. and we get the congress to act. we have proposals that have been sitting there for ten months that could create a million jobs right now just through infrastructure development alone. and putting money back in for our teachers and firefighters. those are good middle class jobs. i've heard nothing elaborated by romney about particularly looking at the most vulnerable. that's the middle class families that have been hit the hardest. >> now, the thing that strikes me, jared, is that hubbard who wrote the

hubbard who is chairman of -- who was chairman on economic advisers. glen hubbard who is his economic adviser and writing pieces for the wall street journal. when you have the chairman of george buss economic council as your economic adviser and the bush policies are the ones that put us in this rut, you're talking about associations. that's a little hard sell if i'm a guy that's worried about the fact that we're in a slow recession that those policies caused. >> he's trying to please everybody and pleasing nobody. he has difficulties with his base. he has difficulty with independents. he has difficulty really speaking genuinely and warmly and openly with people. so he has issues from a lot of different angles. and people rejected it. voters reject it now. and it's up to democrats to make their case and remind voters what the real difference here is between the two candidates. i think the president is well poised to do that. >> thanks to both of you for being on tonight. >> thank you, rev. >> thank you. >>> coming up, the explosive story on how mitt ro

it's not surprising glen hubbard was of course president bush's top economics guy at the time the bush tax cuts pazed. he promised a miracle then and is doing the same now which isn't that surprising. >> what i'm curious about is he is putting this 12 million number out which seems you lick your finger and put it in the air. it's informed but it's kind of what it is. he is betting on this tax reform being neutral. which you brought up. i'm curious how he gets there. he cuts taxes for wealthy americans and he is going to broaden the base. people who earn the least will start paying taxes for the first time. how will what they pay makes up for a 20% tax cut because it seems like the whole argument rests on that being true? >> that is not how i would describe the framework. when he says tax revenue neutral tax reform and lowering tax rates and if your question is how that is possible, we need to keep in mind that only some of the dollars we earn are taxed by the tax code. obviously we have a system that's very progressive. a lot of low and moderate income individuals that don't pay federa

stacey hubbard traveled 500 miles to find out why she can't walk more than a few steps without stumblingdo you feel? >> unbalanced. >> reporter: a hands-on mother of two, she barely got out of bed for ten long weeks. >> if you can pick one thing, what's the worst thing you would like me to fix for you? >> i want to be able to hug my kids. i want to greet them at the door. >> let's go. >> reporter: you did these arm movements and you reprogrammed her brain? is that fair to say? >> absolutely. and it happens very, very quickly. i look very, very carefully at what's happening with her eyes, her head, the degree that her pew pill p pupils or open or closed. and we find if we do a certain motion and we get a different tracking, we say this is going to have a good probability of working. >> this is my problem today. >> reporter: over time, stacey conquers her biggest enemy. the pattern on a hall carpet. >> i think i got this hallway today. i did it. i'm excited. >> reporter: it's day three for will. >> i'm happy since yesterday. for the first time in awhile, so -- it feels good to definitely h

jax hubbard is a nutritionist with some tips on how to make sure you're eating the right stuff. >> first for whole grains, lean meats that are baked instead of fried, and colorful fruits and vegetables, including leafy greens. as far as beverages, you want to stick to water or skim milk, instead of sweetened drinks like iced teas and sodas. and if you're going to drink fruit juice, make sure it's 100% fruit juice. >> thanks, jax. seems like a little bit of hunting around the lunch line can go a long way. >> in "college & u," lauren takes a look at a kind of college that won't accept half the population. >> at first glance, new york's barnard college looks pretty typical for a small school in a big city. located in upper manhattan, the campus is compact, covering just a few city blocks. about 2,400 students come here from all over the world, so therelots of diversity. but all barnard students have one particular thing in common -- they're all women. barnard is what's called a single-sex college. >> there are probably about 60 or 70 all-women's colleges out there in the united states now.

so, we asked nutritionist jax hubbard to help us navigate. jax, where should we start? >> what you want to do with the nutrition label is first start from the top and work your way down. you want to look at how many servings are in the package. all the information that follows is referring to one serving. for example, a small bag of potato chips may look like one serving, but it may be up to 2.5 servings. so, when you look at the rest of the information on the food label, you have to make sure to multiply all those numbers by 2.5. when you're looking at the calories, as a general rule of thumb to figure out how many calories you need in a day, you want to take your weight and multiply it by 20. so, let's say you're a moderately active female, and you weigh 100 pounds. you want to take your weight of 100 pounds and multiply it by 20, which will equal 2,000, which is the amount of calories you want to consume in a day. after looking at the calories, you want to move down to the fats. you want to look at the saturated and trans fats. these are the bad fats, so you want to

they share some of the president's first term advisors, hubbard, and greg mankiw from harvard. where do you think he'd be different. >> i think different on the grounds of spending and entitlements. president george w. bush did make one ill-fated effort to reform social security, but that didn't work and we can go on all day how that was screwed up. but i think what you see with mr. romney, largely embracing the ryan plan in the house is a more serious effort to rein in entitlement spending. >> paul: that's where he would be different. what mistakes should he avoid that george w. bush made. look, the bush administration didn't end on a really happy note economically. >> right, right. remember the phrase no new taxes, i think that romney should be no new spending. remember the prescription drug benefit that george bush passed. >> paul: a huge expansion. >> a huge expansion, that contributed a lot to the growth of the tea party which was the insurrection inside the republican party. in 2010 they swept democrats out of office and we have the insuggestives, and one piece of data in

. >> ramirez flees to hubbard street where he grabs angelina de la torres as she gets into her car.erting her husband and neighbors. they run to her rescue. >> tried to get this one lady out and take her car. all the neighbors just come together and got him. chased him down the street. >> through the heroics of a small neighborhood, the night stalker is finally apprehended. >> my friend dino who was on call, he was following the helicopters, driving, looking up, following them. he heads into the east l.a. area. these kids come up pounding saying we got him. we got him, we got him! led them right to him. boom. >> i composed a shot of him. he looked right at me. this is the only time in my life that the hair on the back of my neck stood up because i felt like i was looking into the eyes of evil. everybody around me, they were saying it's the killer. it's the killer. they just kept looking at him. >> officers transport a bloodied ramirez to a nearby police station. >> clear the streets. >> got to the station, this was sort of a surreal scene. couldn't get anywhere near the department.

we'll hear from glenn hubbard. >> susie: that's "nightly business report" for tuesday, august 28.ave a good evening everyone, and you as well, tom. >> tom: goodnight, susie. we'll see you online at nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

he is alabama speaker of the house mike hubbard. representative hubbard is joining me now from birmingham, alabama. good morning, sir. >> good morning, carol. how are you? >> i'm good. thank you for being with us this morning. this controversy went from an argument over same-sex marriage to religious freedom. why? >> well, to me, it has nothing to do with same-sex marriage or the issue. it's about religious freedom and the freedom of speech. and what really has angered me and i know others are city officials in chicago and boston saying that they will not provide a business license for chick-fil-a or retroactively try to take a business license away because of a company president's political or religious views. and to me, that is just un-american. in fact, it's unconstitutional. and, you know, if it was on the other side, the left leaning people who are outraged at chick-fil-a, you know, they are the ones who claim you cannot discriminate and that sort of thing. but now you come out and say that you should not allow chick-fil-a to d

sue hubbard first discovered the man's body. >> i saw him by himself. thought was, my gosh. >> reporter: it wasn't long, though, and this happened. the man sat up. he was okay, just floating in the river on a hot summer's day. people who witnessed it couldn't believe it. >> we were standing here talking to you. and all of a sudden, he sat up. and apparently, he wasn't dead. can you believe that? >> no. this is unbelievable. >> i said, it's a miracle. i mean, it's great. >> reporter: one of the strangest things about this whole situation was at first, a lot of the onlookers noticed that the gentleman in the river was wearing this life jacket. and so, if he was a drowning victim, they wondered how he got there. turns out, he was out for a midafternoon nap in the susquehanna. >> i was out like a light. >> oh, my gosh. >> but it was comfortable. >> reporter: you heard right. joseph d'angelo fell asleep in the river and was oblivious of what was going on around him, until a dragon fly landed on his nose. >> it was like laying on the clouds. it was a wonderfu