the way mci managed to survive was to file a lawsuit against at&t saying that there was a monopoly. if our justification is just that this is a monopoly and therefore we should regulated, it is hard to distinguish that from google or facebook or a number of other things. i think you need a conceptual justification that is a little bit more directed at difficulty of entry. if you're to distinguish the two, it has to be on the question of something structural about the telecommunications infrastructure and the network of people have created that makes it difficult for some it to come in and enter if you're doing something and efficient. -- something inefficient. we have people who have less control over the network and we need to worry less about it. i am not persuaded we're there yet because all of those possible means of communication depend on government licensure at one stage or another. you have to get the spectrum from a government for the wire permission from the government. in the world in which we had 10 different ways -- my phone call to go for me to you, i would not worry a

with generally supportive word about where the mcis going, but with a few questions and concerns in the interest of conversation i'm going to focus on the latter. first let me also though say how much of an honor it is to be with you. i know we have leaders from yesterday, today and tomorrow in this group who are so interested in our national security, who do so much for it, who sacrifice so much for it. as a civilian, i can only again humbly say how much i appreciate and admire what you do for our nation. thank you for that great privilege. let me now talk about a little bit where we stand with the defense budget. the thrust of my comments is i think the administration is generally on the right track in looking for defense savings in the range of $400 billion to $500 billion over a decade. and just for those who are not following this debate in quite as much excruciating detail as some of us who live inside the beltway, let me me remind you that those reductions are in addition to the major savings expected as we are drawing down our forces from the wars. we're essentially out of iraq

>> invest in good ideas because i think they are good ideas, i would prefer the tax rate, on the mci might generate from this investment be as low as possible, if i look at it totally in terms of self-interest and your argument for different kind of self-interest, self-interest to have a country that functions better. >> right, but it is more than that. if you understand the economy properly as this eco, systemic feedback loop the better middle class people do, the betterly do, right? the more customers i have, the more busily have -- >> rose: like china does better -- >> you have to, that is a very important point. >> rose: it is not a zero sum. >> either internationally or within our country, right? but what we do, within the united states, for instance, a lot of conversations about immigration, for instance, are very zero sum, right? you can't let these immigrants come this because they are taking jobs away and it relates to this idea that, you know, our diversity ends up being a weakness of this country, because you have people competing for this fixed amount of prosperity. if yo

is it the match up between woods and mci wilroy. and we'll take a look at cocoa prices for your easter basket. it's all about what's going on as far as the markets are concerned. let's start off with chris even today. and we had the chinese pmi data. >> we do. we have the private survey which showed strong services pmi data in march with business confidence hitting an 11 month high. so that was a positive for the china markets which came back from a three day public holiday to trade to the up side. nonbanking financials got a boost after premier comments. we saw investors taking profits off the table. reduced hope he ises of lack of stimulus from the fed taking money away from exporters. hsbc down on concerns about the funding ticketities happening in the eurozone. nikkei 225 is off 0.5%. that funding difficulties from the eurozone also hurting sentiment. four week low drifting further and further away to the key 10,000 level. all toe make is coming under pressure. kospi off 0.5%. australian market -- kospi up 0.5%, beg your pardon,

mickelson, mci will roar, guys that have done at this golf course and he's fighting his swing.ew shawn foley swing. i don't think he'll find magic. >> phil made a big comeback yesterday. who do you like? >> i like rory mcilroy who had the calamity last year on the back nine, leader by four shots going into sunday, imploded last year and came back two months later and won the u.s. open. he's 22 years old from northern ireland. has one major championship, plays well around this golf course. rory is my pick to win the masters. >> thank you very much, sir. it is going to be a lot of fun to watch. appreciate it. >> thank you, jeff. >> cbs sports live coverage from augusta begins today at 3:30 eastern/12:30 pacific. final round coverage tomorrow at 2 p.m. eastern slaib/11 a.m. pa only here on cbs. >>> could be one of the most rewarding vaction. peter greenberg traveling to a wonderful location and adopting a pet. won't cost you a dime. >> you're watching "cbs this morning: saturday." [ woman ] my boyfriend and i were going on vacation, so i used my citi thank you card to pick up some