that is very curious that is not how it works in real you know the treasuries are any good it's an iou it says very sure we'll say we have to pay there so ourselves yeah so it's not that i mean it's not either that's what he's not here in this for money only very point seven trillion dollars of the treasuries then china. will try to hold right holds a very small percentage of our debt are foreign owned that isn't a huge percentage of all the debt that's out there but one thing i think that's very important to note is you talk about these evil rich people will be evil rich people will you say maybe i should say you know around taxes no they're not under tax they're the job creators you taxes have a job here and you see our government going to a great many people who buy things and run the shop workers i mean let's get back here for a second here when we were awarded people for actually doing work not just for opening and you think american dream was that if you work hard that you could do more and better to be successful that now you can work more and have your benefits and be paid clas

you say can be like to say that you know we've already funded social security but they are counting ious you know i watch dumb and dumber and i know that they say that i users are just very curious but that is not how it works in real you know if you treasuries are any good it's an iou it's very sure that we'll say we have to pay there so ourselves yeah so it's not going to know whether this is what he's not your administrator one of the only very point seven trillion dollars or the treasuries then china. ok trying to hold right holds a very small percentage of our debt are foreign owned it isn't a huge percentage of all of the puts out there but one thing i think that's very important to note as you talk about these evil rich people will be evil rich people will you see me saying there aren't taxes you know they're not under taxed there are the jobs. taxes of a job creator you see are. a great many people who buy things and what the job workers i mean let's get back here for a second here when we were awarded people for actually doing work not just for opening and you to the american dr

it had little iou's -- promises. there is not a penny in there. social security is a pay-as-you- go system. a right now this year it tips from having a surplus into going into deficit. it will wreck us. >> the poll that you cited, " wall street journal" poll -- i great respect, it is a terrific role because to a degree pollsters, a republican and democrat. that was an honest question. two out of three voters won collective bargaining for public employees, including better than one-third of republicans do. so, the governor right now -- not talking about solvency. he is trying to break up collective bargaining and he will lose. >> a page one story from "the new york times" on thursday about a 30-year-old science teacher in wisconsin, makes $36,000, owes $26,000 in student loans and does not have a car. she wants to keep teaching so she will move to colorado with her parents. is she the problem? >> fascinating case. "the liberals -- "the liberal leader times strikes back." i have been dumping on the teachers movement. there has been momentum about th

>> as you say, we are borrowing and giving ious. at this point, they seem pretty content to hold that. this shows that there is still in willingness to hold treasury security. we deado need to provide confide that will control the deficit over time so that the needs will not explode. if we can, the risk caretaking is that they will spike up. then we will be in a bad said jubilation. it'll add further to the deficit. it is just like borrowing. >> thank you. they said the federal government has great urgency. a decade ago, the government was running a surplus. alan greenspan was worried. it did not seem to be an urgent concern. if there is one thing they saw it, it was paying off the national debt to quickly. my party can claim no credit for that. it was the republican congress the solve that problem so dearly. the tax cuts did seem to skewed dramatically. 65.5% of the tax cuts went to the top that. 14.7% of the top 1/10 of 1%. it just the hint of $40,000. we saw in december how important it was that republicans protect the tax cut. t

. >> that is a repeating theme, it is not the system it fought whether it be term limits, ious to various groups it is the people you are sending. >> willie brown's of the world. >> exactly. ultimately it is on the politicians. if we can change the rules we can call for more disclosure but bottom line it is those we send to do the people's business, whether it be on the bart board, board of supervisors or sacramento. >> what happens if collective bargaining is off the table. you will need a whole bunch of personnel to negotiate individual contracts that could get crazy. >> some encouraging signs for pro football fans in the meantime. >> also having a little bit of labor problems the little bit of doubt about the nfl lock out that once seemed like a sure thing. >> sharks 8 game winning streak on the line. your sunday morning sports round up just a few minutes away (announcer) roundup extended control is no ordinary weed killer. because it does two jobs... at the same time. one: it kills the weeds you have - right down to the root. two: it forms a barrier, that prevents new weeds from growi

economists say we can expect japan to sell off that debt, turning our ious back into dollars. weaker in the price of anything we import goes up. now that is bad news for us, but bad news for japan. you don't want your products to get more expensive because fewer people buy them. one possible side effect of all of this, economic side effect may be our trade imbalance is going to get better. another is we may see unemployment rate going down. japan will produce less and we have idle workers. here's wells fargo's chief economist. >> we may see growth in the united states relative to what you might have expected otherwise. our u.s. firmsville to produce more machines, more automobiles, a lot more turbines to produce energy >> sylvia will talk about the effect on press: here. we will talk california house prices neighbors ask me when will our house prices recover? we will have an answer from one of the smartest guys in the economy on sunday morning. >> thanks a lot. >> 5:27 and more news ahead. >> per new this morning, a moment of silence. one week after the deadly quake and tsunam

>>pam: could issue ious which makes the state's credit rating going down. a lot of implications. thank you. a terrifying situation in hayward when a woman her burglars downstairs and her home. the woman hid from the intruders and called police. the burglars tried to get away, kron 4 picks of the story from there. >>haazig: violent collision with as a workplace car by three suspects trying to escape. that is what happen when i hayward police officer responded to a burglary in progress call here on leeboards street. the police describe what happens next. >> the three suspects bailout of the car, when the officer tried to get ahold of one of them he couldn't. >>haazig: witnesses told me at least one suspect ran to the backyard of this house and got away. hayward police called in this chp helicopter for air support while heavily armed officers conducted house-to-house search. please canines were used to search this field behind the row of houses. the two suspects were found and taken into custody. one meeting in ambulance because of by wounds received tried to escape the k-9 unit. th

>> as you say, we are borrowing and giving ious. at this point, they seem pretty content to hold that. this shows that there is still in willingness to hold treasury security. we deado need to provide confide that will control the deficit over time so that the needs will not explode. if we can, the risk caretaking is that they will spike up. then we will be in a bad said jubilation. it'll add further to the deficit. it is just like borrowing. >> thank you. they said the federal government has great urgency. a decade ago, the government was running a surplus. alan greenspan was worried. it did not seem to be an urgent concern. if there is one thing they saw it, it was paying off the national debt to quickly. my party can claim no credit for that. it was the republican congress the solve that problem so dearly. the tax cuts did seem to skewed dramatically. 65.5% of the tax cuts went to the top that. 14.7% of the top 1/10 of 1%. it just the hint of $40,000. we saw in december how important it was that republicans protect the tax cut. t

f iou would argue if these five gt priorities, the government isn't doing such a great job, and thee failure is most egregious when it comes to the level ofcently spending that has recently developed in this town. a the recent surge in spending the amounts to a 25% increase in th. size of the government virtualle overnight.nment the government is now spending, the federal government alone isf now spending fully 25% of our entire economic output and the huge surge ofoyment spending hasn't worked. unemployment rate has stayed near the 10%. our deficits are now over tha year. that's more than 10% of our you entire economy, and of course when you run annual deficits or spend more than you bring in that is a shortfall that's made we've been adding to a the debtt what i think is an alarming alac pace, and i would argue that t today costing us job growth.crea it's costing us jobs because it creates a tremendous uncertainty in our economic future when wed are not on a sustainable fiscalu path and that uncertainty itselc ng job creators from doing the kins of things we need. and the risks are

what has is the government iou 's which are as good as gold. the government has to go out and borrow the money, so it increases the national debt. , half of the doing money i am getting is coming from some foreign country to pay my social security. >> that is a good way to put it. i'm glad you address the issue in the report. it is getting to war debt. what is the economic impact of all this? people who study this have said if we reduced discretionary spending, it will result in job loss. it is called a dickensian model. it equals less economic activity and job losses. these are the same folks who said the $800 billion stimulus package would add interest on the dabt because we had to borrow money for it. folks that unemployment would be 8% last year and 7% last year -- this year. that has not happened. there would be a great loss of jobs. you looked at this carefully. you talked about the potential financial crisis and small business is being starved for capital if we don't do something. what do you think the impact would be of reducing spendin

jackie, iou special. we have to have lunch. i can never forget advocate.but the point being is a ticket tremendous amount of work to get the behavioral changes to people who accepted the use of the technology groups. so when you are a trillion to get the better in some instances - one have actual noval systems which they've got away from since then. when you are improving the protection and working on child restraint systems and trying to put in, how we get people to do it, how we move that needle in the choices they make, that power collectively that we all have. nhtsa has a huge role in this and we don't shy away from it every day in terms of research and rulemaking authority and rulemaking pretty plants. the work we've done that move to the needle on saving children specifically, talking about from 1995 to 2008 with an estimated almost 9,000 kids saved by a child restraint seats are up by a safety seat or using an adult seat belt. that's huge. it's huge. and it's a great success we have got to do better. but then, as we are thinking about all of those t

>> as you say, we are borrowing and giving ious. at this point, they seem pretty content to hold that. this shows that there is still in willingness to hold treasury security. we deadoeed to provide confidene that will control the deficit over time so that the needs will not explode. if we can, the risk caretaking is that they will spike up. then we will be in a bad said jubilation. it'll add further to the deficit. it is just like borrowing. >> thank you. they said the federal government has great urgency. a decade ago, the government was running a surplus. alan greenspan was worried. it did not seem to be an urge concern. if there is one thing they saw it, it was paying off the national debt to quickly. my party can claim no credit for that. it was the republican congress the solve that problem so dearly. the tax cuts did seem to skewed dramatically. 65.5% of the tax cuts went to the top that. 14.7% of the top 10 of 1%. it just the hint of $40,000. we saw in december how important it was that republicans protect the tax cut. the p