macroeconomic work has shown that federal deficits and tax rates do in fact impact the economy. c.b.o. themselves have said, quote, the reduction in federal borrowing that would result from smaller deficits would induce grealter national saving and investment and -- greater national saving and investment and thereby increase output and inme, unquote. so, mr. chairman, more information from c.b.o. will highlight the need to act positively on fiscal policy here in congress. and maybe as importantly this bill will also encourage pro-growth policy ideas from all of our colleagues that will help get our economy back on track, create jobs and protect hardworking taxpayers. so i will urge my colleagues to support this bill and i reserve the balance of my time. the chair: the gentleman reserves. the gentleman from maryland is recognized. >> i thank you, mr. chairman. at the outset of his remarks, mr. price referenced the economy and the president's plan. i think it's important to remember that when the president came before this body for the first state of the union address, the economy

without getting into the technical ins and outs of macroeconomic, we call this full employment gdp. macroeconomic economists agree that fluctuations that occur around that trend line are the result of fluctuations in demand. we have the economy growing on trends and we have fluctuations around that trend because of changes in aggregate demand. sometimes the economy is about full employment. when credit was really easy, housing prices were going up. the economy was booming. people could get home equity loans and increase demand to get above full employment gdp. it cannot be sustained, but you can do it for a period of time. incidentally, arms are competing for scarce resources and wages -- firms are competing against -- competing for scarce resources. host: these latest numbers have the unemployment rate at 8.3%. it dropped from 8.5% in december. guest: sometimes we are below the trend line. that is below -- that is because of negative shocks in demand. businesses could not bar as much because there was no demand for goods and -- borrow as much because there was no demand for goods a

economists tell us that that's an immediate jump start to the economy because of the macroeconomic of people getting money, spending it immediately, injected demand, creating jobs. the two want us to get into a discussion of how we got here before the bush meltdown of our financial institutions. two unpaid for wars, a prescription drug bills that gave away the store to the pharmaceutical industry, the payroll tax cut for the wealthiest people in our country unpaid for. i don't know that we want to go down that path. the american people have been there, seen it, they know whatever it is there's a ground truth in our country that we have to help the middle-class. >> pelley: do you worry, though, that this does take money out of the social security trust fund and it may never fully be refundd? repaid? >> no, i don't worry about that. i think this should be the last year for it and i do believe that other factors entering into our economic growth are weigh in now and we see an improvement in our growth possibilities. but i think one or two years, no, the trust fund can handle that. >> woo

in italy but were not present in these countries countries where we are present we have a clear macroeconomic picture and policy. just as the battle between the owners of the world's sixth largest mobile operator vimpel com is over no which intel and nor has it regained dominance in the company is now even bookworms largest shareholder with a thirty six percent stake tellen or has withdrawn all claims against them cool calm and is. out of much because came after vimpel coms agreed to merge with autonomy and wind in a twenty eleven eleanor's that the deal of value to project some control in the campaign. bus to skulk of our innovation hub may hold an initial public offering of some of its companies the head of the project fits of excel bug outlined the idea generator in london and attracting more cash however vax a buck says it will not happen this year. pressing grew very work you for the next few years will be able to bring to market share a new company or start ups company so maybe you can be one of those stock which should be a good place to play a. more successful company last year where

but we will see what we report fourth quarter and this year 2012 of the macroeconomics impacting our company. >> what kind of device do you use? >> a sony ericcson. we still own it even though we are departing right now. i use that and base my life on and with the need for my daily work. this is part of my life and i check it extremely regular. >> what about the future of apps, do you see those continuing? >> i think apps will continue to be extremely vital as the internet is growing with information. i think you and i as users want an easy way to find it and not search all the time. i also thing that app providers will be one way of promoting their brands and get a loyal community of users that are using that so they can establish a relationship with their consumers through an app which nobody thought about five years ago. i think we are going to see quite a lot of development on the app side, how it develops for using it and how it will impact with you and me. >> what do you say to somebody that can look out and see all these brand names and all this new technology and words perhap

they have to improve on their macroeconomic prospects. they have to implement their respective domestic prosperity programs. if these initiatives are put in place and we see improved economic numbers over the next 18 to 24 months, we will not see downgrades. we may even see upgrades from moody's and s&p. >> ok. thank you very much. for now, thank you. radical muslim cleric, abu qatada, accused of being a leading member of al qaeda, has been released on -- released from prison on bail. he has been held in britain for more than six years, despite attempts to deport him to jordan. the european court of human rights blocked the move. >> described by a senior british judge as a truly dangerous individual at the center of al qaeda terrorism in the u.k., there'll be in credulity that the government has been obliged to release abu qatada from his prison cell. shortly after 9:00 tonight, he was driven from long lartin, much to the frustration of senior parliamentarians, who believe he poses a significant threat to u.k. national security. >> being

both macroeconomically and to our company. strong capital costs incentives like expensing generate new investment and new productive assets in the united states. and it's reflected in the chart i attached to my written testimony. there's an almost perfect correlation between new investment and jobs in this country. the from our company's perspective, we would generally expect is lower tax rate to increase our tax flow, bottom-line earnings and earnings-per-share and to the contrary, reducing capital incentives would have a generally greater adverse affect on our cash flow. this is important because as is often said, cash is the life blood of any business. our investors paid close attention to our cash flow as well as to our bottom line earnings and earnings per share and they routinely quiz our ceo and cfo about all three. one of our biggest cash outflows that gets a lot of attention is capital expenditures. 4.2 billion in our current year, for example, up from 3.4 billion last year. so while there are other factors, assuming

rebounded rebounded, with a surprising amount of tickical strength and also good strength in those macroeconomics statistics. >> tom: do you think the lows we saw on labor day last year are going to hold through 2012? >> yeah, i think it will. going into an election year, the market is historically stable. in fact, bear markets and recessions are a rarity in an election year. there's only one presidential election year since 1940 that had seen a double-digit decline and that was 2008. in contrast orbit other side of the coin, there have been seven presidential election years that have seen double-digit gains. if you stack up the evidence and you look at wherey woo are on the political cycle, as well as the economic cycle, the evidence is certainly in the investors apse advantage. >> tom: is there more evidence than seasonal factors? >> there is. if you look beyond the macroadministration ching people see in the headlines every day, which of course is getting better. from a technical standpoint, the market is on good footing. in addition, if you look at leadership, we have a special-- a negative l

but we will see when we report the fourth quarter, we're going into this year, 2012, how this macroeconomics really impact or company. >> what devices do you use personally? >> for obvious reason, i'm using a sony ericcson. we still own sony ericcson although we're departing now. i have an android phone that i have with all the different type of news i need for work, and i guess this is part of my life, and i take it extremely regularly. >> what about the future of apps? do you see those continuing? >> i think that apps will, in many cases, continue to be extremely vital. as the interpret is growing with information, i think you and i, as users, want the easy way to find it and not search all the time, so absolutely important to find your way. i also think that the app providers will be one way promoting their brands and getting the loyal community of users that are using that, that they can sort of understand so they can establish the relationship with their consumers through an app which nobody thought about for five years before an app existed. i think that we still are going to see quite

italy but were not present in these countries the countries where we are present we have clear macroeconomic picture and policy. the battle between the owners of the world's largest mobile right of import calm is over now we can tell and or has regained dominance in the company is now vimpel comes largest shareholder with a thirty six percent stake tellen or has withdrawn all claims against them for com and has other rosters ultimate kinds came of the vimpel com agreed to merge with autonomy and wind in twenty eleven tele north of the deal fairly deprived of some control in the company. b.p. is entering into a new deal with russia the british old giant will work with the skolkovo high tech help to improve the efficiency of crude oil refining the announcement comes just days after british lawmakers called on westminster to issue a warning against doing business with the country however the head of b.p. in russia david petty dismisses such concerns saying his company is here for the long term. i'm not a politician i mean business representing b.p. i would say b.p. set a very successful busines

they like what they are seeing in terms of the macroeconomic side of things but always a little bit protective, certainly, after what we've gone through in the last three years. >> susie: love to hear about optimism. thanks some of, tom. and that's "nightly business report" for thursday, february 9. i'm susie gharib. good night, everyone, and good night to you, too, tom. >> tom: good night, susie. i'm tom hudson. good night, everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> susie: join us online at nbr.com. there, you'll find full there, you'll find full episodes of the program. you'll find complete show

italy but we're not present in these countries the countries where we're present they have clear macroeconomic picture and. while that's a topic for this hour but stay with us for headline news coming up right after this . any match one scene. is bound. to burn for ever more eternal fire is going thinkable could possible. do we all want to see this on forever. download the official placation joe i phone oh i pod touch from the i choose our. one jaunty life on the go. video on demand teens mine comes and says feeds now in the palm of your. question on the dot com. fifty. fifty. fifty five. welcome back you're watching our t.v. and here's a look at some of the main stories we're covering for you today violence in the syria escalates as a high ranking religious leader is assassinated in damascus reportedly for his pro-government stance as the syrian opposition accuses the government of stepping up attacks of rebel held areas in the city of daraa the latest target. fulfills a lot of the bailout demands but brussels postponed says decision to release a second rescue package meanwhile many greeks fe

one is because of laws in corporate government that we know about and because of macroeconomic problems that require -- let's call it bailing out a rather large financial institution, is it true -- well, i think it's true, demonstchlt t demonstrateably true, if performance is connected to reward. the question is, how do we defend the inequality that so troubles -- let's call it people on the other side? if we can't be -- if we can't conceive of reforms that reconnect performance and reward, and the reason i raise it is, i hear people -- my conservative friends that emplge.j. likes to put it, i assume he has one. he has one. the problem is that every time any reform i suggest that might reconnect these things, they say oh, no, that's really not a good idea. we're not for sarbanes-oxley which would require independent directors. we're not for dodd-frank which would require severing parts of the banking system. so i can't ever come up with any reconnection that seems to satisfy what are my conservative friend. i'd love to hear if there are any. >> well, let me take a try. yeah. on this que

manage this how are we going to manage natural resources and how are we going to make sort of macroeconomic policy decisions which will we'll work out by the time twenty thirty rolls around because that's something that we are definitely facing down and something that is going to occur if the current trajectories are accurate those are really important questions you like what does the u.n. suggest needs to be done and what in your opinion needs to be done. well the u.n. in their report and the commission of theirs the road it tried to identify a number of what they call a new political economy which they hope to see implemented or at least sketched out at their upcoming rio plus twenty conference which is occurring in june now their hope is that a discussion about for instance with natural resource management the types of things they're asking for are reducing subsidies on fossil fuels and in the case of emissions getting those so at least natural resources are priced within within the global economy as opposed to the situation right now where very often there's very little value or no valu

but we're not present in these countries the countries where we are present they have a clear macroeconomic picture and the brook just near the resort. spoon with you could design a snowball for now i have the russian market and the next bullets and i'm with them . resistance is not of politics but a culture. is couldn't speak. on its own. cultures of resistance on our team. but at the headlines now erekat. moscow has accused forces outside syria of a courage and rebel groups to continue fighting and stay out of peace talks and the un general assembly vote on a resolution to end of the assad regime. i thin surrenders to the last of the e.u.'s bailout demands and he kept his end to the alternatives as well sterile tea leaves greek hospital struggling with the military unscathed. iran's display of nuclear progress and offer of talks are dismissed by america and israel as bluster response to severe economic sanctions. those are the headlines next in spotlight without enough status. well. science technology innovation all the moves developments around russia we've got the future covered. power

whether the macroeconomic anaturalsy is appropriate depends on the scale of it. we did an analysis on the way the military manages the arsenals which involves complicated public/private. and there were too many unknowns and we didn't have an ability we thought to do the sort of analysises we'll like to do. >> i do have questions regarding the natural resource development and oil and gas and what could mean, as my state, the chairman's state, has huge job and revenue stream for the federal government. i'll give it to you in writing so we can get more detail on what that impacts. >> i'll be happy to speak to that. >> senator portman? >> thank you, mr. chairman and dr. elmendorf, thank you for your testimony today and what you did in relationship to the so-called supercommittee which turned out not to be so super. we appreciate the work of your team, some of whom who are with you today. we did a lot of good analysis that i think can be helpful going forward. and in answer to the chairman's question and the ranking member's question and the confidence that people are

italy but we're not present in these countries the countries where we are present they have clear macroeconomic picture and policy. so for now all how the individual. acts in the next fifty five minutes. lose. the main stories we're covering for you today russia has accused forces outside syria of encouraging rebel groups to continue fighting and stay out of peace talks . the resolution which is. the last. designed to be kept in bed and presented with want terms as austerity leaves greek hospitals struggling but the bigotry and skin. and wrongs display of nuclear progress and offer of talks are dismissed by the current israel as a last response to severe economic sanctions. but the very top of iran is just one of the issues discussed now. the founder of the trends research institute next he gives rena portnoy his predictions for the headlines of tomorrow that's coming up next. in the autumn of two thousand and eleven phenomenon a grassroots movement that we all know as occupy wall street became the growing face and voice of america but at the start of two thousand and eleven there was one man t

leader but we're not present in these countries countries where we're present they have a clear macroeconomic picture and policy russia spoke of all innovation heart may hold an initial public offering of some of its companies the head of the project of x.l. bug outlined the prospect a road show in london and attracting more cash however of x.l. bug says it will not happen this year. very lucky if the next syria a few us will be able to bring to market some new. company oh maybe you can be. the change it should be a good place to play is share some of our most successful companies last year we're just a. conduit company is in a different stage all for the role of a good thing really it's a good look this is a new company will derail you're told to come to the market to have some international look. back in about fifty five minutes we're going to be monitoring the markets. mission free accreditation free in-store judgers free. range month three. three stooges free. the old free marketeers plug in video for your media projects a free medio dog r.t. dot com. you know that time for the main headl

results at this point basically european indices are lower the footsie and the docks are sliding the macroeconomic headlines will be the main focus and one of these headlines is of course the price of oil rising oil is a threat to global economic recovery but here's the paradox oil is actually declining on monday for the first time in eight days and escalating oil price is indeed a threat tensions over iran's nuclear program continues to be one of the main factors driving oil prices higher analysts say prices carry this so-called fear premium. of ten to twenty dollars a barrel in recent weeks and that's likely to continue to be so in the near future a higher dollar is putting the lid on crude prices though the dollar is gaining against the euro the ruble is strengthening against both the dollar and the european currency. and that's all the latest this hour i'll be back with an update in about fifteen minutes i'll see them.

screen italy but were not present in these countries the countries where we are present have clear macroeconomic picture and policy. well that's our business update but as our but don't forget to find lost always on our website i did a complex business thanks for watching. the official delegation your only phone pulled touch from the dumpster. video on demand. an omission st now in the palm of your. home. welcome back you're watching r t and here's a recap of all our top stories the violence in syria escalates as a high ranking religious leader is assassinated a damascus reportedly from his pro-government stance well that's a syrian opposition accuses the government of stepping up attacks on rebel held areas of the city of daraa the latest target. athens fulfills the last of the e.u. is be allowed to bounce but brussels postpones is the socialist to release the second rescue package meanwhile many greeks feel that they should well to recover from harvest already measures which harm their health care system while leaving the military on scale. and fierce of head to confrontation between tell of t

italy but were not present in these countries the countries where we are present they have a clear macroeconomic picture and. russia's skolkovo innovation hot may hold an initial public offering of some of its companies the head of the project excel bug outlined the prospect during a road show in london aimed at attracting more cash however of x.l. bug says it will not happen this year. grew very lucky if the next few years will be able to bring to market some new company or start ups company maybe this can be the stock exchange it should be a good place to play is share some of our more successful companies last year we're just a small x. three hundred company is a different stage of development but then you really it's a look this is a new company will be radio two to come to a lot of market or some international market. i k.l.a. back in about fifty five minutes we're going to be monitoring the markets and see how great situation. thank you by. the. michigan free clinic a shoe free store judge is free. range free. free. to free. a free broadcast morning video for your media projects a free med

many of these gaps have really not tracked the other macroeconomic trends affecting the labor force. >> let me jump in with the education implications with this. what we really all aim to want to work for is a market-based approach that makes sense based on the needs of the economy or work force whether it's nurses or engineers or folks in agriculture. so if we believe that we're in a global knowledge economy, which we do, then obviously education is the pathway to have that very skilled work force, whether it's technically or academically skilled, that's the -- that's how we're going to bridge this gap. that's why 12 states including texas, california, and new york, as you may have heard about texas, have systems that allow their immigrant populations to attend public higher education at in-state tuition levels. four states have banded outright. alabama, indiana, georgia and colorado. and the rest have what i call kind of a don't ask don't tell policy, which basically leaves it up to institutions to sort of ferret this out or not. so i think, you know, we -- one of the things i'll l

now speaking of the macroeconomic headlines of the oil market is also down the oil is losing value and unfortunately that's all we have time for in this edition of business i'll be back in about fifteen minutes i'll see that. cultures that show much interest in which of course you can work on it will be the price of crude remains stubbornly hard and consumers feel the pinch but why are energy prices so hard use of the lack of supply.

italy but were not present in these countries the countries where we are present they have clear macroeconomic picture and policy brooke just a bit of a muscle for now and then i split and all have the i think it's the european market going on a fifty five. this hour's headlines for you russia has accused forces outside syria of encouraging rebel groups to continue fighting and stay out of peace talks the head of a un general assembly vote on a resolution aimed at the assad regime. after insert renders to the last of the e.u.'s greyed out demands to be kept in limbo and presented with all terms as austerity to greek hospital struggling but the military unscathed. and iran's display of a nuclear progress and offer of talks are dismissed by american israel and bluster response to submit economic sanctions. the next financial analysis and then down on high find that sweet max kaiser now in the kaiser report. he. max kaiser this is the ca's a report let's look again at what's happening in germany and athens. max kaiser germany's carthaginian terms for greece now ambrose evans pritchard of the tele

we're going this year 2012 how this macroeconomics will impact our company. >> host: what kind of devices do you use personally? >> guest: for obvious reason i'm using a sony-ericsson. [laughter] we still own sony-ericsson even though we are departing right now, so i have an android phone that i'm using right now with all the mails, all the different type of news that i need for my daily work. so i guess this is part of my life, and i check it extremely regularly. >> host: now, what about the future of apps? do you see thos continuing? >> guest: i think apps will in many cases continue to be extremely vital. as the internet is growing with information, i think you and i as users want the easy way to find it and not maybe search all the time, so apps will be important to find your way. i also think that pam providers welcome back -- app a providers will be one way of promoting their brands and actually get the loyal, loyal community of users that are using the app that they can is understand. so they can establish the relationship with their consumers through an app which nobody thought ab

italy but were not present in these countries the countries where we are present they have clear macroeconomic picture and policy. so the business news on that so for me as a wall today my colleague in america will be back with all things business in about fifty five minutes. welcome back to watching r t live from moscow here's a look at our headlines russia has accused forces outside syria of encouraging rebel groups to continue fighting and stay out of peace talks at the un general assembly vote on a resolution aimed at the assad regime. as for law. versus the last of the demands on you to be kept in limbo when presented with more terms as a starting recall spittal struggling with the military on a scale. at iran's display of nuclear progress and offer of talks are dismissed by america israel as bluster and response to severe economic sanctions. transparency competition and a connection to the next president medvedev said new bill aims to overhaul and simplify it russia's problem entry elections. will next in our financial analysts analysis of the loadout on high flying as the cars are now i