jared bernstein and ron christie.ke that deal on a napkin for $4.7 trillion, buddy. >>> the wealth gap in this country is the wide nest in a quarter century. but a new report shows when it comes to having more money, it sure helps to be white. >>> and one of fox's news anchors thinks we should stop paying grandma her social security checks so we can go to war. every day, all around the world, energy is being produced to power our lives. while energy developement comes with some risk, north america's natural gas producers are committed to safely and responsibly providing decades of cleaner burning energy for our country, drilling thousands of feet below fresh water sources within self contained well systems and using state of the art monitoring technologies, rigorous practices help ensure our operations are safe and clean for our communities and the environment we are america's natural gas. excuse me? my grandfather was born in this village. [ automated voice speaks foreign language ] [ male announcer ] in here, everyo

jared bernstein and ron christie.ke that deal on a napkin for $4.7 trillion, buddy. >>> the wealth gap in this country is the widest in a quarter century. but a new report shows when it comes to having more money, it sure helps to be white. >>> and one of fox's news anchors thinks we should stop paying grandma her social security checks so we can go to war. mine was earned over the south pacific in 1943. vietnam, 1967. i got mine in iraq, 2003. u.s.a.a. auto insurance is often handed down from generation to generation, because it offers a superior level of protection and because u.s.a.a.'s commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto insurance quote. u.s.a.a. we know what it means to serve. >>> welcome back to "the ed show." you know, from time to time on this program, i talk about the income disparity and also the concentration of wealth in this country. well, here's another side effect of a lousy economy. the financial gains made by minority communit

i'm jared bernstein. >> tom: jared won't have the last word on the debt debate. in the coming days and weeks, we'll continue to bring you thoughts and views from all sides. >> susie: and finally, hold on to your cell phones if you plan to visit miami, new york or los angeles. according to a recent study by mobile security company lookout, those are the three top cities for cell phone loss or theft. the remainder of the list spans coast to coast. it includes phoenix, sacramento, chicago, dallas, houston, philadelphia and tampa. and tom, pools, taxis and airplanes are the top three worst places to lose your cellphone. cell phone and that's why i always have mine right next to me so i don't lose it can't live without it. >> tom: top of my list, toddlers, a tough place to lose a cell phone too. >> susie: that's nightly business report for monday, july 18th. i'm susie gharib. have a great evening, everyone. you too, tom. >> tom: you as well, susie. good night, thanks for joining us this evening. be right back here tomorrow. "nightly business report" is made possible b

our specialist today, jared bernstein.d at the white house as the vice president's former economic adviser. now a contributor here at msnbc. the rest of the panel is here. jared also happens to be an old agantens of mine from the cnbc days. nice to see you again, jared. >> good to see you, dylan. >> why are we not seeing actual debate about job creation and is it because the politicians either are not aware of this problem or are they simply deciding to not engage this problem? >> much more the latter than the former. basically, you collar anybody in this town or in that building behind me and ask them, what's the major problem facing america, and they will repeat, talking pointing about talking point about deficits and debt. despite the fact if you step over the beltedway and ask people what they care about and the polls are very clear on this, they'll tell you, of course, it's jobs. it's the economy. it's income. and you know, back a few months ago i thought the president and the white house was trying pretty hard to wal

. >>> up next the policy challenges with jared bernstein. later, tim pawlenty continues to talk tough in iowa. that's in the rewrite. >>> congress now has one week left to act. there's still pass forward. the senate introduced a plan to avoid default which makes a down payment and ensures we don't have to go through this again in six months. i think that's a much better approach, although serious deficit reduction would still require us to tackle the tough challenges of entitlement and tax reform. >> that was the president addressing the nation from the east room earlier this evening. joining me now is jerrold bernstein, the former chief economist to vice president biden. he's currently a senior fellow at the center on budget and policy priorities and an msnbc contributor. jared, first of all, let's talk about the policies now that came out on what is called the reid plan in which there's no revenue increases at all. that's the latest compromise offered by the democrats. it would offer a dollar for dollar spending cuts to the amount of debt

. >>> up next the policy challenges with jared bernstein. later, tim pawlenty continues to talk tough in iowa. that's in the rewrite. >>> congress now has one week left to act. there's still pass forward. the senate introduced a plan to avoid default which makes a down payment and ensures we don't have to go through this again in six months. i think that's a much better approach, although serious deficit reduction would still require us to tackle the tough challenges of entitlement and tax reform. >> that was the president addressing the nation from the east room earlier this evening. joining me now is jerrold bernstein, the former chief economist to vice president biden. he's currently a senior fellow at the center on budget and policy priorities and an msnbc contributor. jared, first of all, let's talk about the policies now that came out on what is called the reid plan in which there's no revenue increases at all. that's the latest compromise offered by the democrats. it would offer a dollar for dollar spending cuts to the amount of debt

joining me now, jared bernstein, former chief economist to vice president biden, senior fellow at budget and policy and msnbc contributor sally cohen, found e of the movement vision lab. welcome to you both. >> thank you. >> thank you. >> okay. jared, does it scare you at all? i mean, there's a certain way of understanding this, which is this is political theater. they always do this and lawrence has been on this show and played clips from the left wing, this has been going on forever. there's one way of viewing political theater and others that there's actually something new here. that there's a difference in kind in the kind of resistance we're seeing the republicans, that's actually quite scary. which of those two scenarios do you think it is? >> i think it's both. i think it's very scary political theater. the thing about it is, when you call it political theater, it sounds costless. everyone's in their corner trying to get the leverage they think they need to get the best deal. it is not costless by any stretch of the imagination, because every time the bond market begins to get wor

. >>> up next the policy challenges with jared bernstein.lartd tim pawlenty continues to talk tough in iowa. that's in the rewrite. [ male announcer ] a moment that starts off ordinary can become romantic just like that. a spark might come from -- a touch, a glance -- it can come along anywhere, anytime. and when it does, men with erectile dysfunction can be more confident in their ability to be ready with cialis for daily use. cialis for daily use is a clinically proven low-dose tablet you take every day, so you can be ready anytime the moment's right even if it's not every day. tell your doctor about your medical condition and all medications and ask if you're healthy enough for sexual activity. don't take cialis if you take nitrates for chest pain as this may cause an unsafe drop in blood pressure. [ man ] do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury seek immediate medical help for an erection lasting more than 4 hours. if you have

jared bernstein thank you for joining me. i have to go. i'm up against a hard break.ott walker says closing dmvs. save money. but he is just driving voters away.ç i'm revealing this con job ahead. >>> and, rick perry, making some headlines on gay marriage. what he said could spell trouble big time with the tea party. stay with us. [ female announcer ] investing for yourself isn't some optional pursuit. a privilege for the ultra-wealthy. it's a necessity. i find investments with e-trade's top 5 lists. quickly. easily. i use pre-defined screeners and insightful trading ideas to dig deeper. work smarter. not harder. i depend on myself the one person i do trust to take charge of my financial future. [ bell dinging ] to take charge of my financial future. male announcer: be kind to your eyes with transitions lenses. transitions adapt to changing light so you see a whole day comfortably and conveniently while protecting your eyes from the sun. ask your eyecare professional which transitions lenses are right for you. female announcer: thanks to the eyeglass guide, it's neve

to help me answer this question i'm joined now by jared bernstein, former member of president obama's economic team and former economic adviser to vice president biden. he is of course an msnbc contributor. thank you for your time. >> my pleasure, melissa. >> i really appreciate you being with us on this night when we are trying to figure out what all of this means for those of us who are not on capitol hill eating pizza. now, if you're looking at this, and these different bundles -- these different possibilities of the choices that the treasury department might make, how do you think the treasury department will go about deciding to pay first? >> well, treasury bonds will be paid first. because if you do that, you don't meet the official definition of default. so that is unquestionably going to be the first amount shaved off the top of that $172 million of outflows. and that's $29 billion. so that comes right off the top. and then, you know, just as the bipartisan policy commission set it up in your very, i thought, thorough intro, then you start picking and choosing. as you mentione

thank you, peter morici, jared bernstein for your economic insights. >> thank you. >>> still ahead on this summer friday, the ufo truth tellers. what's so special about this date when it comes to revealing what else and who else might be out there? >>> also coming up, the mission that ends an era in american exceptionalism. we're at cape canaveral with the man who's witnessed each and every shuttle launch. >>> plus, guns, gadgets and a whole lot of girls. meet the author carrying on the legacy of the most successful franchise in history. a vacation on a budget with expedia. make it work. booking a flight by itself is an uh-oh. see if we can "stitch" together a better deal. that's a hint, antoine. ooh! see what anandra did? booking your flight and hotel at the same time gets you prices hotels and airlines won't let expedia show separately. book it. major wow factor! whe you book matters. expedia. didn't taste so vegetably? well, v8 v-fusion juice gives you a full serving of vegetables, plus a full serving of fruit. but it just tastes like fruit. and try our deliciously refreshing v8 v-

christine romer who head the job before goolsby had it, peter orszag, larry summers and jared bernstein, chief economic adviser to the vice president. if it looks to you like a picture of canhaos in a time of crisis are that's how it looks to me as well. in a moment i'll be talking to chief white house correspondent jessica yellin and cnn analyst jeff toobin will also weigh in. fist here's a look at the other stories i'm drilling down on tonight. talking to terrorists. america is reaching out to the muslim brotherhood. does that mean they're not terrorists anymore? >>> is egypt headed for -- and a distinguished american writer with a pulitzer prize. just one catch. he's not an american. jose antonio vargas doesn't even have a green card. america at its best or its worst. then, seven seconds. >> we're in the seven-second delay today? >> in television if you say something wrong, a seven-second delay can save you. >> i thought he was kind of a [ bleep ] yesterday. >> not this time. and then there were none from obama's original team of economic advisers. only treasury secretary tim geithne