what about that, dave malpass?arren buffett is right and things are moving in the right direction. >> i didn't hear warren buffett say that. he said that things were inching forward. and i agreed with the way michelle phrased that. so i think there is a housing recovery going on from a very low base, but it's a relatively small portion of the economy. in other areas let me give you some cause for concern. total bank assets on a year-over-year basis are only up 2%. and over the last three months the bank lending, the actual lending growth has slowed all the way down to 1.7% on an annual basis. so there's kind of a closing down of many of the small business portions of the economy. i think that's waiting to see the outcome of the election and what the first statements by the new president will be. >> you know, michelle, talking about loans are slowing down, it really doesn't seem like the fed's easy money has done very much good. and i want to just ask you, some of these earnings reports, speaking of not doing very w

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ambitions to exert ever greater control over the continent of north america, malpass concluded quote, if america continued increasing which she will certainly do the indians will be driven further and further back into the country until the whole rice is ultimately ex-terminated. how could the united states claim to be the globe's strongest defender of freedom when it denied the basic right of survival to native americans? malpass declared, quote, the right of exterminating or driving to a corner where they must starve, even inhabitants of thinly peopled regions will be questioned in a moral view. he had good reason to be alarmed at u.s. population strength since the nation's numbers had been increasing at such a remarkable pace. with no european rivals to contend with with, nothing stood in the way of doubling of u.s. lands and redoubling of u.s. population, exempt the thousands of indians who continued to live on their native ground. the united states thus provided a perfect object lesson for his claims that excess population fueled territorial aggression. in what many euro american

economist david malpass, for example, wrote this weekend in the "wall street journal" that signs do reportof the hussman fund it is prediction, quote, that the u.s. economy already entered into a recession. what does martin feldstein think? martin feldstein former chair white house economics advisors and chairman at harvard university. he is advising the romney campaign. professor, good to see you, are we in a recession? >> no, we're not in a recession. we're not doing well. the eeonomy is doing very badly. but i was in europe last week and said that to some of my european friends who say, by comparison, with conditions in europe you guys are okay. david: but look at this. 1.3%. we keep going down. >> right. >> it was in 2009, it was higher than it was in 2010 and than it is now. we're going in the wrong direction. >> first quarter of the year was 2%. it dropped to 1.3. last time i was on this program i said we would be lucky, very lucky to get to 2% this year. we're not going to get to 2%. david: marti feldstein says no way we'll get 2% growth. >> we'll have very slow growth. we have the

other people, economist david malpass and others say we may actually be in recession right now.of your executives or do they have a consensus whether we're in one or going towards one? >> we didn't ask it that way. we ask every quarter what do they think gdp will be. this is the last time we ask for 2012. they dropped from 2.1 to 1.9 growth. you saw official revision in the last quarter all the way down to 1.3. what is bothering families, family incomes dropped four consecutive years. 8% over the last four years. home values are still suffering in so many areas around the country. i think for families they know somebody in the family. the extended family is laid off unemployed looking for work. they don't feel so good about their own circumstances. their confidence is shaken but more importantly the company that might hire them is wondering what are the rules? can i go out and hire? can i invest. we have lot of work to do. we would like to increase our exports but, gosh, that doesn't look so good either right now with what is going on in the world. the u.s. should look in the mi

our panelists are anchor monica malpass and vernon odom.oderating the debate is action news anchorman jim gardner. hello. this is the only broadcast debate in the 2012 pennsylvania senate race between candidates bob casey and tom smith. and here are the rules to which the candidates have agreed for today eat meeting. the -- today's meeting. the format will include questions to the candidates from me and our two panelists. a coin toss determined the candidates' podium positions and the order of questioning. each candidate will have 90 seconds to respond to each question. the candidates will also have 90 seconds for closing statements, and the candidates are here to speak about the issues that voters are caring about in this very important campaign. and, gentlemen, to prepare for this debate, i asked an acquaintance what he has gotten out of the campaign. after a moment or two of consideration, he said, well, there's this senator zero thing, and then there's this tea party tom thing going on. and i asked him what else have you gotten out of t

we also want to think of course monica malpass and vernon odom from action news and thank you for watching. now we have these final words from our co-sponsors and thank you so much for being here. >> i of the league ofwomen voters of pennsylvania citizen education fund thinks the candidates for participating in this debate. we are grateful to wpvi for their partnership and commitment to informing citizens a keystone of democracy. you do not need a valid for whitey to vote on election day. only those new to the polling place and registered voters must show proof of residency. learn more about the candidates on the week of online voter's guide and help make democracy work. but tuesday, november 6. thank you for watching. the hurricane has shut down the federal government for the day and several local school systems through tomorrow. many of the events we had planned to cover have already been canceled. we will keep you up-to-date with any announcements as the storm makes landfall later today. elsewhere the new york stock exchange closed for business today has also announced it will be closed

our panelists are monica malpass and action news reporter vernon odom.etween candidates bob casey and tom smith. here are the rules to which the candidates have agreed for today's meeting. the format will include questions to the candidates from me and our two panelists. a coin toss determine the candidate's podium positions and the are of questioning. each candidate will have 90 seconds to respond to each question and 90 seconds for closing statements. the candidates are here to speak about the issues voters are caring about in this important campaign and gentlemen, to prepare for this debate, i asked an acquaintance what he has gotten out of the campaign and after a moment or two of hesitation, he said, well, there's this senator zero thing and then there's this tea party tom thing going on and i asked him what else have you gotten out of the campaign? and he stared at me and he said i can't really say. so i would ask you two gentlemen if you think that the campaign has reached the voters and if you're proud of the way that this campaign has gone. mr.