he's kenneth rogoff, professor of economics at harvard university. is so ken, sounds like even with this positive election result europe is still facing the same problems, right? >> yeah, i mean i think the way to look at it is it's not a supernegative election result. they didn't decide to blow up the euro today. but it's still a mess. and frankly the pro bailout government that won in greece doesn't control a lot of support, doesn't have a lot of popularity, and this austerity program is not working. they have 50% unemployment among greek youth who supported the opposition party. >> susie: and that's why we're hearing from a lot of analysts today that it's just a matter of time that greece is going to exit the eurozone. if that were to happen s that good or bad whether we're talking about europe, greece or the united states? >> well, if it happened right now f it happened today the reason all the g-20 leaders are relieved is they really didn't have a plan europe has a monday currency but it doesn't have a common government. they don't have a way to

carmen reinhart and kenneth rogoff, two very distinguished economists who are often cited by chairman ryan have demonstrated that economies hit by systemic fiscal crisis don't snap back within a year or two but take significantly longer to recover. the tarp bill was of course a huge government intervention in the marketplace called for by president bush, supported by now speaker boehner, now chairman ryan, governor romney, then senator obama and many of us on a bipartisan basis as a distasteful but necessary action to prevent a total financial meltdown with devastating consequences for the economy. but even with the rescues of the economy, main street was feeling the pane as millions of americans were losing their jobs. we all know what the figures were. 839,000 jobs lost per month. as i say, the economy was headed down at a very rapidly collapsing rate of 8.9% negative gdp. so when the president was sworn in, he was determined to take action to help those americans being hit by the economic tsunami and he believed that if we adopted president bush's proposal for government action to