. >> and then plus, retired admiral, mike mcconnell, on the looming dangers of international cyber attacks. i am candy crowley, and this is state of the union. a better than expected jobs report was the only upbeat economic note this week, and it was downgraded. that's the first time that ever happened. >> it's a matter of the medium and long-term budget position of the united states that needs to be brought under control, not the immediate fiscal position, it's the one that centers on entitlements and its entitlement

and finally, there is a letter from mike mcconnell, in which he also offers his strongest possible support. as a 44 year veteran serving the nation as a member of the intelligence community, i have many opportunities to work with professionals of the department of justice. this was particularly true when serving as the director of national security and as the director of the national intelligence. during those years of service i never met or served with a more accomplished or dedicated professional than matt olsen. he understands the icy, its process and procedure and has served with distinction to read well, i can go on and on and i have many pages here. i'm not going to do it. suffice it to say i believe that we have an extraordinarily qualified professional, which can step into the leadership of nctc, and at this very potentially balk period provided with the leadership, it really does deserve a marriage. so, with that, mr. vice chairman, may i ask you to meet your remarks? >> thank you madame churn. mr. olsen, congratulations on being nominated to be the director of the national counte

plus, retired admiral mike mcconnell on the looming dangers of international cyber attacks. i'm candy crowley, and this is "state of the union." a better than expected jobs report was the only upbeat economic note this week, and it was pushed off the front pages when one of the three big credit ratings, standard & poor's, downgraded the u.s. government's credit rating, the first time that's ever happened. >> it's a matter of the medium and long-term budget position of the united states that needs to be brought under control, not the immediate fiscal position, it's the one that centers on entitlements and its entitlement reform or having the matching revenues to pay for those entitlements. that's at the crux of the matter. >> larry summers, treasury secretary under president clinton. in our new york bureau, steve forbes, the president and ceo of forbes, inc., and a former presidential candidate. gentlemen, thank you both. i cannot think of two men better to try and explain to me what to make of the downgrading of the u.s. government's credit rating. let's start with you, stev

. >> and then plus, retired admiral, mike mcconnell, on the looming dangers of international cyber attacks. i am candy crowley, and this is state of the union. a better than expected jobs report was the only upbeat economic note this week, and it was downgraded. that's the first time that ever happened. >> it's a matter of the medium and long-term budget position of the united states that needs to be brought under control, not the immediate fiscal position, it's the one that centers on entitlements and its entitlement reform or having the matching revenues to match the entitlements. >> we have treasury secretary under president lynn clinton, and steve forbes, the president and ceo of forbes ing, and a former presidential candidate. thank you both. i cannot think of two men better to try and explain to me what to make of the downgrading of the u.s. government's credit rating. let's start with you, steve. >> i think in a narrow sense, it's a political move, and i think it will sound strange for me to say an outrageous move. the government is legally aub lay gatd to pay its debts, and a large

government systems as well as into the big systems of corporations, and mike mcconnell will be a guestnd then we will talk about politics. a lot on the plate. >> i am sure there is a lot of politics and spin going on, especially with everything going on. it will be very interesting to hear what the economic guys want to say, because everybody wants to know exactly what it means so they can take a big breath going into monday. we will look forward to tuning in at 9:00 and see what is going on. >> thank you, deb. >>> if you want to know how many people out there love lucy, look at this crowd. 915 red heads paying tribute to what many called the queen of comedy. >>> and then hanging on for dear life. the crowd below holding on with their collective breath. we're back in just a minute. hey, the new guy is loaded with protein! really? 25 grams of protein. what do we have? all four of us, together? 24. he's low fat, too, and has 5 grams of sugars. i'll believe it when i--- [ both ] oooooh... what's shakin'? [ female announcer ] as you get older, protein is an important part of staying active

senator mcconnell just on the floor right now live as mike mentioned.this speech he said among ore things this, quote, it might have appeared to some that their government was not working but, in fact, the opposite was true. their argument on the republican side has been that this is changing the conversation, this is changing the way washington works. now, in the big picture in all of the things that the government has to deal with and a $14.5 trillion debt, this is a small deal in that perspective. but it is a big change in the way things have operated in the past. jenna: important to point out that symbolism, at least that is what the politicians are talking about. but the effect on the average american family, bret, is there any immediate effect? when this gets signed into law as we expect it to happen, what is the effect that the average american family might feel, and what are the effects maybe longer term that we can talk about today? >> reporter: yeah. well, i mean, the biggest effect is that you avoid what the administration had set up as defau

creation, a senate republican leader, mitch mcconnell followed by house democratic leader nancy pelosi which starts at 8:00 eastern on c-span. tomorrow morning, mike glover of the associated press and james pindell how the 2012 presidential candidates reacted to the debt compromise and gordon adams on defense spending cuts. after that "national journal correspondent looks at the federal aviation administration funding and your emails and phone calls. washington journal live wednesday at 7:00 a.m. eastern here on c-span. earlier today, a president signed the debt ceiling and deficit reduction bill that his remarks coming up at 8:00 p.m. eastern. press secretary announced the signing to reporters and asked answered questions about the president's future economic agenda. >> thank you all for being here. iffer an announcement. on september 11, 2011rks the president and mrs. obama will join with the rest of the american people marking the 10th anniversary of a day we will never forget. the president will participate in commemorations at each of the three locations, lower manhattan, shanksville, pennsylvania and at the pentagon. throughout the day, he w

mike. >> thank you, my friend. despite blow back from the right wing saying that leftists and liberals who compare the tea party hostage takers were wrong, mitch mcconnell today admitted his party acted like hostage takers during the debt ceiling negotiations. do you agree? >> i think anyone who's sane agrees. i don't see any could be controversy there at all. a lot of people have been calling them hostage takers for a long time fp if we shoot the hostage, it's not that bad for the hostage, that was their idea about the debt ceiling, right? if we default, you know, it's not the end of the world. which to me is the equivalent of saying, we have the hostage, if we shoot them in the head, it's not that bad for the hostage. >> it's crazy. >> yeah. >> well, maybe they're boning up by looking at ransom, an old mel gibson movie to figure out how to get this thing done right. what's your response to palin and bachman playing the victim over the alleged joe biden terrorist comments? >> well, surprised as i was to see palin and bachman saying and doing something ridiculous and hypocritical, i would say for them, it's par for the course. but, you know, i don't kno

mike emanuel on the hill. when will we find out who is going to be on this committee that makes the decisions about what to cut next? >> well, shep, senate republican leader mitch mcconnell said he is working on it didn't have an exact timetable but said it would be soon. a senate democratic leadership source says it should be sometime this week. as for what they will do, here is senate democratic leader harry reid. >> i think that people are going on the joint committee should be open to solving the debt problems of this country and not let ideology stand in the way. this is more about saving our country from the future long-term deficit problems we have than political ideology. 12 lawmakers will have a big job. $1.5 trillion by thanksgiving or serious automatic cuts kick in, shep. >> shepard: this was a crisis of the lawmakers making. while the fight wasn't pretty the lawmakers point out they did crisis for now. >> variety of talks with a variety of leaders and stalls and stops and starts and phone calls and meetings at the white house. but in the end, senate republican leader mitch mcconnell says they got it done. >> it might have appeared to some like their governmen

mcconnell last night. he and majority leader reid will meet with their conferences and caucuses over the next few hours to get their take on this deal. joining me now, idaho senator mikeo, member of the waban budget and finance committee. senator, thank you for coming on this morning. >> good to be with you. >> let me start with the basics. how many republicans are going to support this deal in the senate, is your sense? >> i thought you might ask me that. >> you're the whip. get your whip out, right? >> that's right. i think at least 30, maybe 35 will support it in the end. there will be some who pull back, but i don't think we'll lose too many more than that. >> you think this will be 70 to 80 overall votes, that kind of message you'll be able to send to the house. >> i think so. it is always dangerous to crawl out on a limb and make a prediction about how the vote will go on something as controversial as this. but i believe in the end we will see pretty strong support in the senate on both sides. >> let's talk about the super committee here, because in many ways it is modeled, whether folks in washington believe it or not it modeled off the various bipartisan commi

mike lee. what if one of them comes forward and says we need to be represented on the committee. mitch mcconnellt going to make his decisions that way but you have to consult people. we have this supercommittee. it has awesome powers. before we get to the committee there will be a huge debate about who gets to get on it. within each party you'll have the internal politics play out, then we'll have the committee and a lot of what we've seen over the past few weeks play out. >> john king, gloria borger, fascinating, thank you. >> whatever the supercommittee et cetera up looking like, new cnnorc polling shows americans -- 44% approve the deal, 52% don't. but only 17% believe elected officials acted like responsible adults throughout the negotiating and lawmaking. 77% say they acted like spoiled children. by about a 2 to 1 margin, people approve of the spending cuts included in the debt ceiling agreement even though the actual items to be slashed have not been named. 60% object to not having tax increases in the debt deal. now, the supercommittee could call for tax reform or even tax increases, but