mr. bernstein, how are you my friend? >> reporter: it is chilly out there this morning. you need the jackets in the 30s and 40s. it is going to preclude much in the way of frost this morning. the colder temperatures are 46

mr. bernstein will be here shortly. great sandy stuff. >> okay. thank you for staying with us through all of this. >> the morning show will start up again at 4 a.m. be safe out there. >> goodnight, everybody.

mrs. bernstein's 25- hour birthday and sunday we get up to 60. >> and you're going to celebrate all those5 hours. >> mm-hmm. >> and a special gift. i've got your back, mrs. bernstein, yes, i do. >>> if you're planning to head around town, i'm sorry, i do not have good news for you. there is an accident on the outer loop of the beltway at new hampshire avenue. it's slowing things down not only on the outer loop but here on the southbound side of i-95 as well. let's go to a live look first from our sky 9. here's the backup and there's the accident. it looks like only the left shoulder is getting by. i was on the phone with police and they tell me -- we lost the so the. let's go to our traffic land camera. if you are planning to head over there, this is what it looks like. authorities tell me it's two cars involved. they are not sure about injuries yet but again they're only letting the left shoulder get by with flares set up as well. i'm sorry about that. let's go to another camera on the beltway at old georgetown road. this side is not affected. i'm have more on that traffic accident comin

mr. bernstein will be here at 4:25 in the morning with your bus stop forecast.ight activity right now back to fairfax as you go out 66 and 123. even lighter activity as you go up 270. here's our futurecast. by 6:00 in the morning, this is a wee bit overdone. with that said, i think the roads will be wet in most spots for the morning commute. we'll put this into motion. by noon we had kind after break. everything pulls away. just some light, spotty showers up along the border. by 6:00 tomorrow evening a couple of showers possible. maybe an isolated thunderstorm. i think we'll even see breaks in the clouds. and pretty warm despite the clouds tomorrow, temps will make it at least into the upper 70s, maybe 80. so a wet morning could mute for most. turning warmer, no doubt about that. we're looking at thunderstorms possible, both tuesday and wednesday. and even warmer on wednesday. talk to mid-80s by wednesday. all right, overnight, looks like this. we'll say showers, mostly cloudy. nothing heavy. cool, 54 to about 64, winds southeasterly at ten. section three days,

mr. bernstein? >> it's foggy t

mr. bernstein's remarks remind me of those in 2009. after the stimulus we are going to have unemployment go above 8%. it went to 10% with the stimulus. >> i came here to listen to stephen make some sense and he has n't yet. he may be one of the only guys out there that doesn't realize how private investors have completely avoided the market. if you look at non agency mbs it is up from last year. >> jarod -- >> you should know that the recovery is based on cash investors and those who were buying for cash to rent out and as an economist, you should know that deploying capitol to in efficient sectors is not acceptable. money is going into government and factories. >> stephen, i very much agree that we need a housing market at the bottom of this economy if we are going to have a foundation. >> jarod. >> stephen -- >> let's not talk over each other. listen. >> jarod i'll give you the last word. >> because home prices are beginning to appreciate. we have under a million under wat water borrowers and they are able to refinance. this is able

mr. bernstein, thank you. >>> they're teaching locally but they're definitely thinking globally in this week's cool school. the bus making a stop in rockville, maryland this morning. how could something as simple as a marshmallow help students learn how to solve problems around the world? we take you to christ episcopal school to find out. >> have you wondered how tall buildings stay up in the air? >> reporter: they don't have to wonder. fifth graders in rockville are putting engineering basics to work. >> what's the strongest shape to build with? >> usually triangle. >> reporter: their materials? marshmallows and a spaghetti. their inspiration? >> the empire state building is a pretty tall one. >> the sears tower. >> reporter: they're in a partnership with johns hopkins center for technology and education. hands on learning is a big part of the experience, but it goes far beyond that. >> they're going to help the teachers learn how to work in teams. then the teachers are going to be working with the students and helping them learn how to work in teams around solving real world problems. >> re

mr. bernstein, thank you for being here tonight. >> good to be here, al. >> what's the romney rationale for running? >> it is getting better. it's not getting better as most people would like. the real thing -- and the question that we need to ask is, what has kept the economy from really moving and is it republican obstructionism in washington? has the republican party in washington contributed to coming across and joining with democrats in ways to make the economy better? i think the answer is no. it's trying to inhibit the economy through it is ideology rather than trying to take the brakes off and give it a real chance to breathe. the real question is why. we've heard from republicans over the years, democrats soft on communism, whatever. this is a real radical party. rom snee a cap romney is captive of it to a large he can tent and that's what we are seeing in this argument. the other issue is president obama. and you've got to put these two things side by side. the republican of the record and romney's truthfulness and whether he has been consistent in his record over the years. those

mr. bernstein. how are you? >> good morning. i'm well. we're a lot better than yesterday.though we have problems, we don't have the pouring rain. we'll look at the positive. we have fog. that will be an issue for some, especially north and west of town. south and east of town, looks like the visibility issues are no longer a concern. we have damp conditions out there because it's cloudy. it's humid. we had some showers and drizzle overnight but radar is quiet now. so fog going to be the concern. mid-60s north and west. low to mid-70s d.c. south and east. so a very mild morning. the fog, a real problem. dulles right now one eighth of a mile visibility. we've come up to a half mile in hagerstown. quarter in martinsburg. conditions improving from d.c. south and east but even west much of the shenandoah valley dealing with fog and visibilities less than a mile. dense fog advisory around baltimore. that one till 8:00. the other advisory goes till 9:00 a.m. for the entire i-81 corridor and even out toward cumberland and romney in west virginia. our day planner, we're going to se

mr. bernstein. >> i don't need to be reminded when it's friday. >> best day of the week right? >> it's going to be beautiful today. i know folks have monday off. if you can stretch it out the a four day weekend today would be the day to do it. because it's going to be fantastic. you know right there jess? >> got to go. >> you may have to go home a little early huh? not condoning that sort of thing but it's nice out today. starts with a look at the bus stop forecast with temperatures which are starting in the 50s and 60s and might get the isolated patch of fog to the south and west. really though a very pleasant morning out there with fairly light winds and sunrise not until about 7:08 and looking good today. 63 by 8:00. by noon 77 and looks fantastic for lunch. this afternoon, we're going into the lower 80s. southwest winds 5, 10 miles an hour and then this evening got the high school football games on tap. 8:00 temperature 71 so we'll fall back into the 60s. little jacket or sweatshirt should be enough for the football games tonight. 56 in vienna right now. lovettsville one of

mr. bernstein and miss magee indicated they're not speaking seriously about issues of poverty. what is paul ryan's plan? to hack at the social person, whack the poor and take away the american dream. >> that's why we call you the golden throat. >> on the other hand the anemic policies being offered as a counter measure, don't seem to adequately address the fact that 23 million -- $23,000 for a family of four is pretty ludicrous. you not only have the poor but the working people. people who work 60, 70, 80 hours a week make it above the poverty level. then they have latch key effects. you can't stay at home and watch your kid, can't go with them to the school system. all the things with their kind of virtue want to support as the basis of democracy, that is to say you take personal responsibility for your kids. they don't acknowledge how the economic forces impoverished people so very fundamentally and then they want the personal responsibility to kick in while the government doesn't take its role. let me end, obama says this, the reason knows the government is not the enemy bec

mr. bernstein, always nice to see you. >> thank you. >> let's talk first about the most recent story we talked about, and that is the idea that the administration is effectively giving a pass on a law to companies that might otherwise be required to give 60 days of notice that layoffs were impending. senator mccain calls it a blatant violation of the law. do you agree? >> no, i disagree. by the way, i'm not going to say there is not some politics in here. of course, there is. but i thought eamon javers gave a very good and complete explanation of what's going on here, and certainly senator mccain amped up the politics. facts are, that absent a certainty that layoffs are coming, there is no requirement to send out warn act notices. and by the way -- most people -- and i would argue the markets -- believe that the fiscal cliff issues will be resolved. now, that's not a sure thing. but i would argue that that is the way of most people's perspective on this. >> but it's not merely a waiver on the idea of notice. this administration has said, if you have a lawsuit that arises because of this, we wi

mr. howard bernstein, our one and only candidate for the weather forecast. >> a damp start but it's going to get better this afternoon. not bad the next few days and the weekend right now all systems are looking up. we'll go for launch. weather wise, let's talk about this morning. it may just take a few extra minutes with the wet streets out there, a little bit of road spray. want to take it a little easy but a better afternoon. here's the bus stop forecast. bundle up and keep dry. we've got temperatures down in spots like the shenandoah valley low 40s right now. upper 40s in town with some areas in the low 50s over by the bay and southern maryland. your sunrise at 12 after 7:00. not going to see the sunrise this morning but we'll get to the sunset. 55 by noon. breaks develop the as we get into the later amp, more sun-- later afternoon, more sunshine with a high around 60 degrees at 5:00. this morning the showers are right over us. they've been continuing from around richmond, ashland, fredricksburg right up and down the i-95 corridor up toward even philly in new york. you see the scatter

we're joined now by jared bernstein, former chief economic adviser to vice president joe biden and a man who eats numbers for breakfast. jared, we mention mr problems with the math, so please take a listen. >> you're the master of the budget, so briefly lets go through the plan. >> i don't know exactly when it balances because we haven't -- i don't want to get wonky on you but we haven't run the numbers on that specific plan. >> you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all the math but -- >> paul ryan says he doesn't have the time to explain his budget but we do. so you tell us, does it add up? >> no, it doesn't. and the problem that he's having basically is that of two plus two doesn't equal five no matter how much time you have. the issue here, and we've talked about this before, the nonpartisan tax policy center figured out the following. if you cut the tax rates on the top 1% by 20% as mitt romney has proposed and you close all of their loopholes to try to make up the difference, there's just not enough revenue in all of those loophole closures to pay for the cut in the ta

mr. aldonis, and i'll asking the same question of dr. bernstein, is manufacturing important for american future? and what do we want, jobs, profits, jobs overseas, jobs home, should we have a secretary of manufacturing and a secretary of wall street, instead of the treasury secretary. what do we need to do sneer why is it important. >> the short answer is it's absolutely critical. the reason it's critical is 90% of the patentses produced every year comes out of the manufacturing sector so long-term economic growth is required to raise our productivity and what drives that is the investment and innovation. so we want a productive game. that spins off employment opportunities and other things. but the terms of growth this is where it starts. >> dr. bernstein -- nice, fast answer. terrific. >> i completely agree. >> i would add that 70% -- 90% of the patents. >> it's easy to say get productivity and you get these benefits but we have seen an awful lot of manufacturing jobs disappear while we were getting gains in product different. 5.5 million manufa

mr. aldonas to begin with, a similar question to dr. bernstein. is manufacturing really important for the economic future, if so, why come and what we want from mfg.? is it jobs, provinces, jobs overseas, jobs at home? should we have a secretary of manufacturing to go along with the secretary of the agriculture and secretary of wall street? what we need to do? why is it important? >> short answers are critical. the reason it is critical was the patents that are produced every year come out of manufacturing, so the long-term economic growth to raise the productivity and what drives that is the investment that comes out of the manufacturing sector is what we want as the productivity gain. that also spends of employment opportunities that in terms of growth this is where it starts. >> dr. bernstein, vice fast answer. terrific. >> i would add 70% of r&d. but it's very easy to say get productivity and therefore you get all these other benefits, but we have seen an awful lot of manufacturing jobs disappeared while we are gaining in productivity for the

mr. obama has no plan and he keeps saying -- his people keep saying that romney is lying and that boils my blood. you can have an intelligent disagreement without -- jared bernstein, you're a gentleman. art laffer, you're a genius. >>> employees of westgate resorts getting a shocking e-mail from the ceo. get this, quote, if president obama wins reelection, you may be fired. the full story coming up next. that's even tougher than this story. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. nature valley trail mix bars are made with real ingredients you can see. like whole roasted nuts, chewy granola, and real fruit. nature valley trail mix bars. 100% natural. 100% delicious. >>> there's a lot of uncertainty over what a potential second term for president

mr. lipton, of course, frank and joy. that is all for now. i will see you back here tomorrow at noon eastern, 9:00 a.m. pacific when joined by lawrence o'donnell, michael steele, jared bernsteinel eric dyson. find all sorts of exciting tidbits at facebook.com/now with alex. "andrea mitchell reports" is coming up next. rachel quit the corporate grind to start her own interior design business. she's got a growing list of clients she keeps in touch with using e-mail marketing from constantcontact.com. constantcontact is easy and affordable. it lets her send out updates and photos that showcase her expertise and inspire her customers for only $15 a month. [ dog barking ] her dream -- to be the area's hottest interior design office. [ children laughing ] right now, she just dreams of an office. get a free trial at constantcontact.com. >>> right now on "andrea mitchell reports" final face-off. president obama plays tough. governor romney plays it safe. >> i know you haven't been in a position to actually execute foreign policy, but every time you've offered an opinion, you've been wrong. >> attacking me is not an agenda. attacking me is not talking about how we're going to deal wit

mr. liesman, thank you. rickster, thank you, if you're still there. thank you very much. >>> the impact of the gdp numbers on the markets and the election. jared bernsteinised vice president biden on economic policy and jim nussle is a former omb director. they'll join us next. [ female announcer ] i found the best cafe in the world. ♪ nespresso. where there's a coffee to match my every mood. ♪ where just one touch creates the perfect cup. where every cappuccino and latte is made with fresh milk. ♪ and where clothing is optional. nespresso. what else? >>> welcome back to "squawk box." much better now on the futures which were down 70 or 80 for a lot of the session and then 50 or 40 and now after this gdp number down just 26 points. which is now just 0.2 of a percent on the dow, a little bit more for the s&p. >> joining us with more on the gdp numbers and the looming fiscal cliff is jim nussle, former omb director and also jared bernstein who is former economic policy adviser to vice president biden, both gentlemen are cnbc contributors and it's good to see both you. it's a better-than-expected number but as rick and steve pointed out, not gangbusters, n