so the long-term issue or saying it's going to be fixed in the long-term i think is a defeatist attitude here. >> what are you talking about? the president just said today that medicare is on the table. >> brenda: okay. >> the president said medicare is on the table, what are you talking about. >> it's on the table, done, yeah, it's on the table, that's great. >> brenda: toby, go ahead. >> toby. >> remember, whatever we called it, any of the loopholes, i mean, for crying out loud, and you know, tax or private jet tax or whatever, you know, literally, we spent 3 billion dollars a day, we borrow 3 billion dollars a day and spend 3 billion and borrow 1 1/2 billion a day. all the loopholes, put them altogether, it's wiped them all out other than mortgage interest and you're talking about 60, 70 billion dollars, and that's a drip in the pot, doesn't come close. >> brenda: and gary b, i wanted to ask you, we talk lo-term opposed to short-term, you can't get to the long-term unless you do something in the short-term, is that correct? >> exactly, julian makes a persuasive argument that we have t

they're not interested in the long-term. in the short term i have no strong view, no conviction. we seem to be muddling through quite reasonably given all the obvious problems rdz you worry about a number of things including the united states will never, ever, or you don't expect it to ever go back to the level of economic growth and gdp annually that it did in previous years. >> right. and i worry that the powers believe that it will. so clearly bernanke seems to believe it will go back to 3%, the good old days. >> rose: you don't think that's possible. >> well, the population, which is a huge input into gdp, its population times productivity. and or population plus productivity. and the population which often hit 1.5% while i was in america, has dropped all the way down to maybe 0.2, 0.3. and these are kind of official numbers adjusted for the fact that he work a little bit less each year. and women, who hardly worked back in the '50s really created a billing boost in the number of people hours offered to the work force. >

we've got a long-term spending problem that has to be addressed. i spent the last two-plus years trying to bring this town to address this problem, and it is going to be addressed. >> there's going to be different points of view of that, because obviously the president believes he has done it and is addressing it. i want to pin you down on two points. you were talking about tax reform. and your objection it seems to this formulation, which is allow some revenues to come from tax reform to unlock entitlement cuts and then get rid of the sequester. but you think that's ash trary and is just a couple of deductions. are you open down the line to using revenue derived from tax reform closing deductions to actually pay down the deficit? >> i'm going to say it one more time. the president got his tax hikes on january 1. the issue here is spending. spending is out of control. there are smarter ways to cut spending than the silly sequester that the president demanded. so we need to address the long-term spending problem. but we can't cut our way to prosperi

i'm concerned about long-term debt. >> i'm not concerned about long-term debt. i'm concerned about the long-term imbalance between what we want and what we're prepared to collect in revenue which is not quite the same thing. it has very little to do with deficits now or the level of debt ten years from now. >> but if you go back to '97 and read your book, the numbers that you gave -- this illustrates a problem. they were so much closer together. you were concerned about that. now they've separated, americans have decided they like how republicans tax and they like how democrats spend. >> so what's the goal for now? 16% g.d.p. in tax receipts? >> no, that's a depressed economy. >> rose: part of this argument, too, is that you have said there's an argument, this thing called amplification. you believe when joe suggests that most of the people he knows believe that the debt is a big problem that he's talking within a circle of people that do not represent what? >> that certainly are not a -- the kind of unanimous -- joe said first nobody agrees with me then maybe t

it was designed to be a gun to congress's head to get a long- term fiscal plan in order to put us on a sustainable path. it was meant to be a punitive thing, so members of congress would want to avoid it, but because of the continual this functionality of elected officials, they have not come to a resolution, so now we have sequestration. >> if it was a bad idea to begin with, why would the president of the united states and congress agree to this in the first place? >> i think there is a broader recognition. our spending is on an unsustainable path. we cannot continue these huge deficits, so we have to get spending and revenues to a new equilibrium and on a sustainable path. the problem is if we do not do sequestration, there is nothing else to do, and there was an agreement to have a combination of spending cuts and revenue increases. we have some revenue increases with the fiscal cliff discussions. now the president is saying i want some more revenues, and both probably have legitimate positions in their own ways, but they are just talking to each other and not getting it done. th

the community and partnership with the police on a [inaudible/incomprehensible] level and that is long term change. >> okay i wish we had a lot more time and there is a lot of subject that is we didn't have a change chance too touch on today but i want to thank you both and it has been very informative for our audience and i wish you the best of luck in the upcoming year. >> okay i have a valentine's day gift for you -- okay. >>>> >> hey san franciscans, get ready to have fun. this thursday march 14 celebrate pie day puzzle party in so many a come have fun and test math skills and party competition. play solo or play with others. bring your scratch paper and pencils. if math isn't your best subject, maybe the free urban tasting game of events. come this thursday and enjoy a variety of bourbons collections. this is great if fun for all of you bourbon consores. while having a great time. the colorful festivities will celebrate arts and crafts and many others. come see the parade down market street and enjoy the festival from 10:00-5:00. as the irish saying go

both are sacrificing some long-term priorities in what way? >> well, look, almost everyone in both parties agree we have to do something in the long-term deficit and debt under control. but i think the sequester is far from the ideal way to do that. at a time when the economy is still weak. it concentrates all the austerity right up front and there are estimates that pulling this much purchasing power out of the economy could reduce the number of jobs created next year by as much as 700,000 or 750,000. it doesn't differentiate between programs seen as successful and those seen as unsuccessful. it cuts across the board. third it has a generational inequity. the sequester is aimed solely at discremary spending. the kind of day-to-day operation of the government. medicare, medicaid, programs like that as a result, it cuts deeply at the programs where we make our investments and the productivity of the next education, research. and only nicks very slightly entitlements that benefit the elderly. this tilt we're living through where we are spending

the community and partnership with the police on a [inaudible/incomprehensible] level and that is long term change. >> okay i wish we had a lot more time and there is a lot of subject that is we didn't have a change chance too touch on today but i want to thank you both and it has been very informative for our audience and i wish you the best of luck in the upcoming year. >> okay i have a valentine's day gift for you -- okay. >>> >> hello, i am with the recreation and parks department. we are featuring the romantic park location in your backyard. this is your chance to find your heart in santa and cisco with someone special. -- san francisco with someone special. our first look out is here at buena vista park, a favorite with couples and dog walkers. both have a significant force. a refreshing retreat from urban life. the romantic past that meander up and down the park under pines and eucalyptus. hang out in this environment and you might see butterflies it, fennel, and then the lines. -- dandelions. is ada accessible. public transit is plentiful. we have conquered the steps, we have watche

over the long-term it's wealth, if it's increasing everybody will benefit. this society has proven absolute wealth continues to march forward. >> we'll continue this discussion, thanks, guys. >>> hans solo and harrison ford, the faa may be closing traffic towers. >> is this is commercial aviation and passenger safety, and it's a critical issue that's got to be addressed immediately. >> hollywood hype or real threat to your security? next. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. even in stupid loud places. to prove it, we set up our call center right here... [ chirp ] all good? [ chirp ] getty up. call me! seriously, this is really happening! [ cellphone rings ] hello? it's a giant helicopter ma'am. [ male announcer ] get it done [ chirp ] with the ultra-rug

>> again, you have to go back and look at the long-term trends. it's very different, a retired person versus a younger person that still has many years of earnings left ahead of them, and it depends on how much risk you want to take, so that's the key. if you are closer to retirement, you may want perhaps 25% of your portfolio in equities. if you're much younger, still earning a living and saving money, then you'll want a much greater percentage of your portfolio in equities. >> you know, all that makes so much sense, but when you're talking so-to-somebody about their retirement savings, about college savings plans, they are still worried about putting money into stocks, even though they see the markets going up. how do you reassure them so they get comfortable and can sleep at night that they are doing the right things? >> stocks are just an amazing way to build wealth. they have been over the long term. they have beaten all other asset classes. i strongly encourage individuals that aren't as familiar with the stock market or aren't as comfortabl

not necessarily pleased and excited about the people who are going to be working in this hospital long term who have yet to receive, you know, final contracts, although we have no direct authority over that particular process, i would hope that the same enthusiasm happens as a result of whatever deal they decide to make with cpmc or sutter or whomever they're negotiating with for their long-term contract. i think it's important that they're treated with the same support and respect that i feel the city is getting as a result of this potential deal. i wanted to ask just a question around -- because there is some confusion with the term sheet of payments that i have and also the term sheet that you have listed in your slide, mr. rich. specifically, based on what we had received -- excuse me -- under the payment schedule, the major component of payment listed it out as, of course, $70 million of community benefits, payments made of 14 million annually. and then there is a list of payments that will come immediately as a result of this project. and i think i'm confused by the numbers. i'm confu

around us and a great opportunity to bring more and more certain revenues to the port for a long, long term and then, also benefit the city and port, the water front edge through public benefits, to the public. so, really the principal here is to maximize the port revenue opportunities of the site, this really in the development process means taking on certain rifbs which i will talk about in a little bit but trying to create a structure where we are sharing that risk in such a way that we do get those opportunities. first i want to point out that one of the main ways that we are doing this is taking a little bit of the development risk, and but also trying to reap the maximum benefit is that we are prizing the lapped and the finished parcels after the entitlement and infrastructure and that is a ready to go parcel and create the maximum value and subject to market timing risks which is something that we need to consider and we are not trying to set the value now or to speculate to the spakt value we are trying to create a maximum opportunity for the port to get that value. the normal and d

you may need to be saving money for the long term. but it is your obligation to plan for the long term as well as the short term. the ada has a set of priorities that guide you on how you will be serving your property. the ada says a certain party of getting in the front door, but you are logical, you want your customers to access your services. be that steps, be that ramps, if the door is not wide enough, if the landing is not level enough. priority two is actually travel. once you get into your business and start speculating the wits of your files. access to all of your services. [inaudible] rearranging furniture. that is something we would call readily achievable, if you move your table out of the way to allow a person with a wheelchair access to your space. restroom facilities only come into play after you have already made the entrance accessible and you have trouble accessible. restaurants only have to be accessible if they are available to your customers and clients. and actually does not cover employee access to the restrooms.

the number one challenge let's also the short term medium term long term it's all is sort of depending on what and what you do but right now we have an unemployment crisis in this country long term unemployed it's just been devastating our unemployment rate is too high it's been too high for too long we're going to have people who are out of work for so many years it's going to increase markedly difficult for them to to get back to work this fuels income inequality which is a very very significant problem in this country and is going to be a long term structural issue that somehow we're going to need to contend with you know a recent study came out that of the for the so-called financial recovery that the top one percent basically gobbled up all of the recovery mouth and then some while everyone else's guy actually gotten poor little the rich got richer the poor have gotten poorer these are sort of unsustainable long term trends that are really problematic for the economy as far as what i think is the biggest threat of a giant shock it is still the fragile nature of the banks and the a

still, volcker held to his long-term course.solidating and extending the heartening progress on inflation will require a continuing restraint on monetary growth, and we intend to maintain the necessary degree of restraint. schoumacher: by 1982, the economy had fallen into the deepest recession since the great depression. even the reagan administration was urging the fed to relent. but volcker and the fed board, determined to bring inflation down, held tight. finally, in late 1982, the fed saw inflation drop substantially and eased the money supply. this last week, the federal reserve bank decided to lower its discount rate to 9.5%, the first time this key interest rate has gone below two digits since 1979 and the fifth reduction in just four months. this demonstrates the fed's confidence that inflation and market rates will continue coming down and its confidence that we can work together for a healthy, non-inflationary recovery. schoumacher: throughout the recovery that followed, inflation held at 4%. though inflation had been

the community and partnership with the police on a [inaudible/incomprehensible] level and that is long term change. >> okay i wish we had a lot more time and there is a lot of subject that is we didn't have a change chance too touch on today but i want to thank you both and it has been very informative for our audience and i wish you the best of luck in the upcoming year. >> okay i have a valentine's day gift for you -- okay. >>>

the community and partnership with the police on a [inaudible/incomprehensible] level and that is long term change. >> okay i wish we had a lot more time and there is a lot of subject that is we didn't have a change chance too touch on today but i want to thank you both and it has been very informative for our audience and i wish you the best of luck in the upcoming year. >> okay i have a valentine's day gift for you -- okay. >>> we're going to celebrate filipino-american history month in san francisco by doing what mayors always do, especially after being solely instructed by hydra as our education advisor to present the proclamation declaring the month of oct filipino-american month in san francisco. come on up here. get up here, so everybody can take a picture here. if i may, i just wanted to say something as well. you know, there are many streets of our great, great city and everybody i think is now enjoying so many of the neighborhoods that are rising up. but there have been neighborhoods like desoma and the excelsior, critical names of streets that we named after filipinos who really

all of which are very essential over the long term in particular for the police. the police have been fighting for a long time as elements within the counterinsurgency forces. anys the case with counterinsurgency, the commander has to watch the operational environment very carefully. there will come a point when the insurgents have been defeated and what will almost always be the criminal nature of insurgencies, and most insurgencies have a criminal nature to them with the criminality will become the principal challenge as opposed to a security challenge from the insurgents. in some parts of afghanistan, we are there today. the police need to be able to transition smoothly from the trailing edge of the counterinsurgency to the leading edge of law enforcement. contributions by countries like japan and korea to the development of police and police capacity is helping us to make that a critical transition from counterinsurgency to law enforcement in larger and larger portions of afghanistan. we would not be where we are today in the campaign without the sacrifices of

the community and partnership with the police on a [inaudible/incomprehensible] level and that is long term change. >> okay i wish we had a lot more time and there is a lot of subject that is we didn't have a change chance too touch on today but i want to thank you both and it has been very informative for our audience and i wish you the best of luck in the upcoming year. >> okay i have a valentine's day gift for you -- okay. >>> welcome, everyone to the 10th annual public defenders summit. i'm so excited to be here today. our office has been putting on this summit for the past 10 years. we draw together attorneys, community leaders, non-profit leaders and directors and people committed to improving the criminal justice system. we come together once a year to talk about the issues and problems that we want to solve. this year is a particularly special summit because yesterday marked the 50th an niversary of the supreme court decision. one of the most significant dimensions our country. on march 16, 1963, the court said you have a right to a lawyer. even though it had been part of the consti

the next support level -- anyway, that's the long term/up term. now, i want you to take a look at the relative strength index. remember, that's called the rsi at the bottom of the chart. remember, that's a momentum indicator that can measure whether the security is overbought or oversold. if the tlt does pull back to that 112 floor, okay, then the rsi will drop below 30. that's comfortable close to oversold territory. and it would make garner bullish in long-term treasuries, at least for a trade as charts that get oversold tend to bounce back with a vengeance! okay. that's what you've got to know about oversold. bounces back. meanwhile, the slowest indicator, the oscillator here, this is slow. another measure of whether something has become overbought or oversold. and it's already trolling oversold situation under which success to garner, it could be due for a reversal, back up in wake of its recent pullback. these two overbought, oversold indicators are installing this bottom is going to hold and we're going to go like that. or at least take that

>> it was built on this notion of long-term averages.oing back looking at a safe withdrawal rate. and the problem is that you cannot buy the long-term average . gerri: why not? >> well, you can over 30 years. the problem is when y first retired that is kind of the most important for your long-term success. today if you buy a government bond yielding 2% that is a lot lower the long-term average of five and a half. the impact that has a ridge of your 30 years is material for retiree right now. gerri: that's a great way to put it. you are saying that, short, averages makes sense, but at the end of the day what really matters is what you're doing with that nest egg at the moment you retire. so many people found this out in the last few years when the market tanked. i think people know that that experience is real. what are you telling him out? what should you do? what is the right rate of withdrawal? >> it's different for each person. the notion of 4 percent is based upon a married couple. i think for that same cohort 3% makes more sense. if

i've had the opportunity the last year to work on the mayor's long-term integration design group which has really given me a great perspective on both the challenges the city faces with a lot of managed care coming and the desire to increase access, and to increase coordination of services. and with a lot of conversation around as we do with ihss, cultural appropriateness. which have 11% of our client base that is lgbt as well. i had the opportunity at new leaf to be the board advisor to the elders council. i want to share a quick story. when the dph cut funding to that program, i got the chance to work with a group of elders who were all activists during the '60s who out of their own pockets put together an event every saturday for laguna honda hospital. they would bake their own casseroles, [speaker not understood]. because the nursing staff refused to assist them throw these events, they helped walk and wheel the residents out of their room to this party. to those who were an integral part of the society in the 60s and 70s this was the only chance they had to be part of their commun

then the issue of the long-term cultural organizational issues section of the report i'm going to get back to the technical authority and stuff like that. i'm going to get back to that in a a minute. the overarching issues that struck us was with one since the entry involved just as much energy and just as much fire and light and heat as the launch, why isn't more attention paid to that so we took care of that. is this an experimental vehicle, test vehicle or and operational vehicle? if you can't you answer that question, you can't get -- if you inserted incorrectly, you will go down the wrong path. and then one of the other issues of course we spent a lot of time on and money was spent on a lot of our report was spent on the gate guard at the johnson space center told me is foment cannot hurt. you can go to the cafeteria and workers in the cafeteria would tell you if, cannot. so that was appalled help for us and why we spend all the money to take the rcc off of the enterprise. the last thing i want to talk about them is this long term kind of recommendation to the most of portend has

medicare won't cover many long-term care costs so long-term care insurance has become a popular product companies. until they realize they weren't making any money on it. jane wells is here with what happens next. what does happen now? >> yes. well, change is afoot, simon. 8 million americans have long-term care insurance, but prepare for sticker shock. insurers have been caught off guard by the costs, and they are raising rates big-time. renee is a retired california teacher who bought a long-term policy 17 years ago. her rates are going to go up 85% on top of previous rate hikes because calpers can't afford to cover her for the rest of her life and 100,000 other members so after paying 60 grand over the years into the policy may cancel because she can't afford the new $5,300 a year premium. >> people like me, we started out working with the intention to take care of ourselves, take care of our families, not be a burden to the government, contribute our fair share, and take care of ourselves when we got older, so now the question becomes how are we going to do that? >> there's a point

lake superior is a foot below the long-term average. the army corps is predicting that all of the water levels are going to remain below average. this is a huge problem. boat are and able to sell. -- the boats are and able to sell. to sail. is relativef sandy to us. this seems small. do commerceying to and our harbors and it cannot function, it is a big deal for you. we have an e-mail this morning saying that of the 18 million estimated damage at 5 million will be directed to the great lake projects. did i read that correctly? today we would be providing $90 million. >> that is very good news. we thank you for that. go to thequestions not the of whether or support act allows for where the drought is the cause of the problem. the drought in itself would not necessarily a warrant a declaration. you have to look at the consequences. since most of economic, it did not address economic losses. when we have looked at this it really comes that suit is there an emergency to this that may require emergency supplement for drinking water or is thi

a lot of costs are long-term. the economy is getting better. i think we have good traction in the economy right now. we'll see better economic growth than we have seen in the past. the market is reacting to some of that and not without risk from what's going to happen with monetary policy going forward and other concerns. but to run a government like this of $3.6 trillion that many depend on and look to for direction, this isn't the way to do it. we need to find a way to fix it and i'm just not optimistic that we can do that in the very near term. i think it's going to take, you know, two, four, six years to get to a point where we can clear up some of the issues that we're dealing with on tax policy and on our long-term spending priorities. >> even as those long-term issues worsen during that period of time. we'll have to leave it there. gentlemen, thank you both. great to see you both this morning. president obama will meet with a group of ceos at the white house today to discuss ways to improve cybersecurity. the president will solicit input

but we want to look long term to see what we can do to tackle this saturation problem in the long term. in the long term. you know 45 is a lot for six blocks. i think there is not necessarily a number, we can't identify what is the absolute threshold. but 45 feels like a lot for the neighborhood. we would generally be open to the density control, 100 feet, or 150. 300 is the equivalent of a ban or finite cap. we would look at 100 to 150 feet for cap on bars. >> do you know the restaurants, what i see the issue on polk the issue is the bars. not the restaurants. i wondered if you knew the proportion of restaurants and bars. >> yes, there is some accuracy issues with the data. the map itself we are looking at, not every dot represents just one establishment. but they should reflect the 45 of all. and from the data we have, of those 45, 11 are off sale and 12 onsale. and 13 bars. that doesn't sound like a lot. but about one-third of the total liquor licenses in the six-block region. if you were a resident in the neighborhood and you go to bars and restaurants that serve liquor. this in ac

the community and partnership with the police on a [inaudible/incomprehensible] level and that is long term change. >> okay i wish we had a lot more time and there is a lot of subject that is we didn't have a change chance too touch on today but i want to thank you both and it has been very informative for our audience and i wish you the best of luck in the upcoming year. >> okay i have a valentine's day gift for you -- okay. >>> ♪ ♪ ♪ >> the san francisco playground's history dates back to 1927 when the area where the present playground and center is today was purchased by the city for $27,000. in the 1950s, the center was expanded by then mayor robinson and the old gym was built. thanks to the passage of the 2008 clean and safe neighborhood parks bond, the sunset playground has undergone extensive renovation to its four acres of fields, courts, play grounds, community rooms, and historic gymnasium. >> here we are. 60 years and $14 million later, and we have got this beautiful, brand-new rec center completely accessible to the entire neighborhood. >> the new rec center houses multi-purpose

i focus on long-term. i focus on creating hope in people. letting them see, look, if you're going to be investing in the stock market or equities, you have to invest. those are growth type of investments. putting your money into the savings account for long-term for your retirement is risky. it's riskier than putting it into an index fund over the long term. they have to trust themselves, educate and inform themselves. >> that's an interesting point. most people would think the opposite. putting my money in a bank is not risky. putting it into an index fund, which is a basket of stocks, is risky. comes down to people's fear. no guts. worried about the market. the market is volatile and it's risky. what do you do when people tell you that? >> it's the thing about fear and ignorance allowing us to dictate financial decisions. we should never allow that. nothing wrong with being ignorant, something wrong with staying ignorant. we should never be scared of something you don't know about. a lot of individuals are scared of something because they

it keeps instruments and you have your long-term allocation to credit and high yield.hose are the areas that still pay enough yield. over time, we will see rates rise and drop at the same time. in the short term trading environment and maybe if we took ten-year treasuries back about 2.1, we would actually be buying here. liz: i feel like if you own the stock and you got the dividend, you feel like you own a little bit something more than you all here. both sides very valid. have a great weekend, gentlemen. thank you. forty-seven minutes before "the closing bell" rings. look outside right now. the snow was coming down all day long in new york city. it is slowing down a bit. still very cold out there. you can see the american flag waking in the wind. you know what they were of you guys up, a drink. i don't know anything about how to pronounce this stuff. they do have wine in a box. they have a lot of names under their umbrella. heating up business by heading south of the border. we are talking brazil. we have a fox business exclusive coming up. some good news to talk abo

the community and partnership with the police on a [inaudible/incomprehensible] level and that is long term change. >> okay i wish we had a lot more time and there is a lot of subject that is we didn't have a change chance too touch on today but i want to thank you both and it has been very informative for our audience and i wish you the best of luck in the upcoming year. >> okay i have a valentine's day gift for you -- okay. >>> >> how is it going san francisco. it's springtime in san francisco. here is what's happening around town. this march join yoga for beginners. come to join us for balance and strengths. all levels are welcome and the class is free. r svp is required. after your work shop there is a comedy review. this wednesday join local performances from musicians. it's a popular spot for locals. sign ups are an 7:00 and shows at 7:30. want to hear more music. join us on hey street at the milk bar. this concert with blue grass and more. that's the weekly buzz. for more info on any of these events visit us on our facebook and twitter and check us

(music) i'm a person in long-term recovery for 25 years. part of what we're trying to do today is to say addiction is like any other chronic illness. if i break a leg, you know, or i have a lung disease, you know, i have some pretty full access to care. if we truly mean that-that addiction and mental health are like any other chronic disease, we need to, you know, take a look at our public policies and-and ensure that we're-we're-we're treating it in that way. (music) go out of your way to find out what faces and voices and samhsa and your local organizations are doing for next year, for 2012, and-and do what you've got to do, you know, to get out there and say "hey, yes. we're in recovery. we do recover. we are active, productive citizens in your community. hear us." (music) it's such a special day in so many different ways. it's a community coming together, out in the sunshine in the city of providence, to say to all the residents of our great state that people in recovery are important, that the message of recovery and hope is possible f