james sherk, you want to response? >> guest: i think there is a lot of room in the tax code as i said before to improve it and lower the overall rate and eliminate some of these deductions less efficient. that is again something both the speaker and the president have said they're interested in doing and i think that could be quite helpful. but in terms of the broader point, look, who is invests? who is it creates jobs? entrepreneurs and investors taking risks in america. there is awful lot of investment that takes place here in this country. we want to encourage more of that. you can have a policy all right, the goal of government reduce wealth and take money away from successful entrepreneurs and investors. you can can do that and have economic effects. that will not encourage more people to invest and try to create wealth in this country. you can't do one or the other but doing both at once you're pushing and pulling at the same time. >> host: all our guests are friends, if you want to use the word. we try to get ba

host: james sherk, you want to respond?guest: there is a lot of room in the tax code to eliminate some of these deductions that are less efficient. that is, again, something that both of the speaker and president at they are interested in doing. that could be quite helpful. in terms of the broader point, look, who is it that creates jobs? entrepreneurs and investors taking risks in america. there's an awful lot of investment that takes place in this country, and we want to encourage more of that. to have a policy that has the government redistribute wealth and take money away from a successful entrepreneurs and investors, you can do that and that will have economic effects but it will not encourage more people to invest. you can do one or the other, by doing both and bonds, you are pushing and pulling a -- at the same time it -- but doing both at once, we are pushing and pulling at the same time. host: we try to get a balanced opinion, so keep watching and you will find that out for yourself. dean baker, we will get your re

host: james sherk, you want to respond? guest: there is a lot of room in the tax code to eliminate some of these deductions that are less efficient. that is, again, something that both of the speaker and president at they are interested in doing. that could be quite helpful. in terms of the broader point, look, who is it that creates jobs? entrepreneurs and investors taking risks in america. there's an awful lot of investment that takes place in this country, and we want to encourage more of that. to have a policy that has the government redistribute wealth and take money away from a successful entrepreneurs and investors, you can do that and that will have economic effects but it will not encourage more people to invest. you can do one or the other, by doing both and bonds, you are pushing and pulling a -- at the same time it -- but doing both at once, we are pushing and pulling at the same time. host: we try to get a balanced opinion, so keep watching and you will find that out for yourself. dean baker, we will get your r

james sherk with a round table on the republican job proposals. you may have heard about a story with regard to a number of items that come from pharmaceutical companies, they come from overseas. up to 80% of chemicals and other ingredients are made outside the united states. what does this mean for your safety? and then a reporter from "the military times" talking about the cost of military pensions. that is tomorrow at 7:00 a.m. on the "washington journal." thank you for being with us on sunday. enjoy the rest of your weekend and have a great week ahead. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] ♪ >> the ranking democrat of the house, energy, and commerce commission on "newsmakers." and then, "the contenders." a look at the life of james blaine. and cutting taxes and increasing spending. >> i want to begin asking you about the president postponed jobs plan. are you confident that this will create jobs? if so, which parts will do so? >> i think his proposal will create jobs an

"washington on gues journal," dean baker and james sherk look at republican congressional initiatives. military times pentagon bureau chief talks about the cost of military retirement programs. "washington journal," live at 7:00 a.m. eastern on c-span. >> the c-span networks, we provide coverage of politics, public affairs, and books. look for funding into november, including four recent natural disasters. follow congressional action as well as presidential candidate as they campaigned across the country. search, watch, and share all of our programs any time with our video library. also keep watch for our digital buses bringing c-span to committees. ♪ ♪ >> spend next weekend in charlotte, north carolina. throughout the weekend, the history and literary life from the side of the 2012 democratic convention. we will visit park road books to learn about relationships between independent bookstores and bookstores. on the american history television, tore james poult's birthplace. -- tour james polk's birthplace. book tv and american history tv, next week and on c-span 2, and c-span 3. the

we are joined by james sherk and dean james. here is a clip from speaker boehner. >> let's be honest with ourselves. the president's proposals are a poor substitute for the pro- growth policies needed to remove barriers to job creation in america. host: any defense of the president's approach? guest: the stimulus package work. it was not big enough. the problem was his projection. you go back to the projections on the table. they thought if we did nothing, the employer rate would not get above 9%. we know it got above 10%. it likely would have gone to 11% absent the stimulus. what happened was not the fault of the stimulus. guest: this is the slowest recovery we have seen since the great depression. economists are going back and taking a look. there was government spending and intervention. roosevelt was building a lot on hoover's policies. the government intervention actually lengthened and extended the great depression. we would have recovered sooner if not for these intervention policies. why are we having the slowest recover

host: thank you to dean baker and james sherk.iate your time. >> in a few moments, president obama outlines his plan to cut the deficit. then details from that plan from tim g-8 and jack lew. and then a discussion of bipartisanship and the climate of the fight in an -- in the climate of divided government. and then what republicans are planning for the economy and jobs. a couple of live events to tell you about tomorrow morning. at 10:00 eastern, the joint economic committee holds a hearing on the federal debt and the u.s. economy. that is here on c-span. on our companion network c-span 3, a former white house budget director alice rivlin testified about job creation before the senate but in -- budget committee. that is at 9:30 a.m. eastern. to cut the deficit, president obama is calling for $1.5 trillion in new taxes as part of it $3 trillion deficit reduction package. speaking at the white house, he also said he would veto any plan to cut medicare benefits but did not raise taxes on the wealthy. this is 20 minutes. >> good morni