] ♪ [playing "your love keeps lifting me higher" by jackie wilson] >> the president in cincinnatis afternoon. he has made eight visits to the state this year. he is heading back to washington to the olympics men and women's basketball game against brazil. >> of the center hosted an event are there today of looking at the half a trillion dollars in defense spending cuts included within the sequestered. they also envelop the results of the survey in which average americans are given budget information and asked to create their own pentagon budget. this is one hour and 15 minutes. >> historical with this graph, breaking out of more spending in afghanistan'afghanistan and ira. we ask is if this was more than what they expected. we presented the amount of defense spending as a percentage of the economy over time. this number has been going down quite a lot. the economy has been growing. the largest number said it was less than they expected. then we presented defense spending it relative to enemies and allies. we used bit as china, north korea, and iran. on the allies' side, nato, a so

then you can ride it higher and higher, true jackie wilson style.ic and put shares up big in the desperation to buy or cover positions. might be big losses. may be they want to ring the register all at once. when a company with a heavily shorted stock announces a gigundo buyback that's another line in the sand where management is contradicting the shorts. companies often refuch shares. not all buybacks are bullish. some are a waste of money. i teach you to identify the bogus buybacks. a substantial new buyback that's active in the face of the shorts is often a good reason to take a closer look at the stock. you don't find out it's active until the end of the quarter is a reason i like to read the quarterly report. here's a note of caution. be careful when dealing with a company in the cross hairs of the shorts, especially when people are nervous and the market is in bad shape. the shorts do have the ability on their own -- legally or not -- to wreck a stock even if the underlying company is fantastic. these days the shorts -- [ shotgun ] -- they hav

] ♪ [playing "your love keeps lifting me higher" by jackie wilson] ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ electionngton journal. this is 45 minutes. but our next guest is the christian broadcasting network chief political correspondent. david brody has also written a book called the teavangelical. welcome. tell us about the term. >> it was in 2009, 2010 when these tea party rallies are going on around the country. i noticed they were praying at the beginning of the rally is -- rallies and there were some prayer circles. i did some interviews and many of the more conservative christians. about 60%, some surveys say even higher -- they are conservative christians so i needed a name for it. tea party christians was too boring so i went with the teavangelicals because most of these chris -- conservative christians are breaking bread with the libertarians within the tea party movement. host: a conservative christian, typically evangelical who strongly supports the tea party agenda or is active in the tea party movement. is this a new phenomenon? guest: this is kind of a more frank of that more majority,

. >> i think my colleague will now recognize jackie spirit from california for five minutes. >> i want to thank mr. feldman, mr. wilson, and mr. bloom for being here today. recognizing that there is a responsibility of private citizens be referenced shenanigans. i can think of a lot of shenanigans that went on with wall street and particularly goldman sachs. would you call those shenanigans? >> bonobos in detail, but i certainly it would be possible but i have not looked at those in much detail as i have to the auto bankruptcies. >> you were an independent controller for new york state. is that true? >> yes. >> the work he did to rescue u.s. auto industry was what about what was to invest in the country. >> just. >> at any time did you detect that the person on your team was pursuing a political agenda? >> no. >> were you attempting to push a particular political agenda. >> only to save taxpayer money two well, what a novel idea. is that what you are engaged in during? >> yes. >> reworking to stave off the collapse of very large and interdependent automotive industry and you are referring to their judgment based on ma