mr. john, would you comment? let me just mention, i was reading i think in front of usa today, they were talking about, you know, where they're at in terms of retirement. i think with of 60%, enormous number just relying on social security, and they don't have much beyond that. it's pretty scary to think you work 40 years of your life and there's not something in place. do you have anything you want to add to that? >> well, let me add two things, if i may. first, of course, is that to take this as an object lesson, the fact is, if you've reached 55 or 60, you don't have nearly the flexibility that you used to have. and we need to make sure through the auto i.r.a. and a wide variety of other things, to make sure this doesn't happen to the next generation. but we've got a second crisis that's coming with the baby boomers. the first one is going to be not having enough money. and the second is not managing it properly, so that they run out of money at the time when they're 80 or 85. we need to ve

mr. john, what would be the overall effect on retirement savings for the.10 to 2020 proposal as was proposed by the polls commissioned? >> i'm not a micro or macro economist, so i've not really modeled it. i usually tend to defer to jack unissued along that line. >> okay, jack? >> actually, we have a figure in the written testimony that takes a look at what would happen. i don't think surprising that the biggest hit with the on the highest income quartile. we found for example the people currently dirty six to 45 if it were applied today would have about a 15% reduction on average in their retirement balances. what i think comes as a surprise to many is that the spec and biggest hit actually comes on the lowest income quartile. and that is because of the 20% coming up to 20,000. at one thing that many people ignore and set off in time people will come back into the workforce later on in their age they may be espouse and they may find that because those catch up or whatever they have the abilit

mr. john? >> i understand what my colleague just said, but the fact is when we talked to multiple small businesses and the like, the number of different types of savings plans and, frankly, the rather confusing numbers and names, caused a fairly great anxiety among small businesses that were considering starting some sort of a plan especially the ones that were fairly early in that process. so something that would consolidate, something that would simplify. not the least of which as i say is a simple marketing technique just changing the name of the blasted things. i mean, what is a 401(k)? when it comes right down to it. it would be exceedingly useful. there is another aspect of this, though, which is that you referred to savings for different things. and as you pointed out, there are a wide variety of different types of advantages or tax code treatments. it would actually be much simpler if you just created all real savings the same way and exempted it from income without necessarily having t

going to take place was march, 1981, and by way of background, effective states for interesting mr. john was biged by statute to refer the casest case to the monopolies and murders commission unless in his opinion each time was not economic as a going concern, and the case was one of urgency. that's the position on the law. but i advise you to -- >> put in exhibits to prove that he said that and indeed that thompson. >> paraphrasing. it's whether the times and -- it's whether the "times" and "sunday times" -- can we look at the pluverage with checkers with miss thatcher. it may well be tab 15 in the bundle. you'll see mrs. thatcher's press secretary noted that from the 5th of january, 1981, that number 01626 addressed to the prime minister attached to the record are the sailient points of your lunch yesterday with rupert murdoch. line with your wishes, it has not gone outside number 10 and is of course to be treated commercial incompetence. now this was a document that didn't enter the public domain until march of this year, mr. murdoch. do you understand that? >> yes. >> now according t

mr. john. i understand your proposal would utilize private financial institutions to administer the automatic iras. in the past, there has been proposals to create personal retirement accounts that would be administered by the social security administration. some might argue that it would be simpler for small businesses if this could be tied into the existing payroll tax withholding process. could you comment on the pros and cons of the different approaches? >> sure. this is a very different -- this is completely separate from the proposal in 2005 and before to set up personal account and social security. there is a private-sector management industry which works exceedingly well treated we do not see any reason to supplanted by government entity. we do have the ability if the private-sector provider so chooses to have what is called an -- [inaudible name] von. that would allow small savers to generate roughly $5000, but at that point, that would be rolled into the private sector. we feel that t

mr. david john a senior research fellow in retirement security at the heritage foundation. mr. john published and testified extensively on the improvement of retirement security plans. finally, we welcome randy hardic from a parder in at from davis d hartman llp in washington, d.c. mr. hardic is an arisa and regulatory compliance specialist who maintains a practice focused on advising employers and institutions on retirement and savings issues and he is testifying today on behalf of the american benefits council. thank you all again for your time today. the committee has received each of your written statements and they will be made part of the formal hearing record. each of you will be recognized for five minutes for your oral remarks. we'll begin with you and you are recognized for five minutes. >> thank you. chairman, ranking member levin, and members of the committee, thank you for the opportunity to speak with you today on the issues involved in tax reform and tax favored retirement accounts. i am the research director of the employee benefit research institute. this is a n

supervisor cohen: is there any member of -- mr. johnike. >> good afternoon, members of the committee. supervisor. i wanted to briefly outline we have done since we were last before you on this item. we were asked to do community outrage -- outreach, which i will go over for you. a roughly one block radius around the site would extend it further in a northerly direction. really, a sideline of walt, which is where my finger is. reawe also take a jet -- outreah to the condominium complex, to capture their attention on this item. in doing so, we also offer the opportunity for direct details. all the comments received through 5:00 on friday -- i do not think that anything has come in to my office. not today. we captured the totality of that for you. a couple of petitions were signed. i think you have all the letters as well, in the package. a visual might be helpful. one of the issues that we discussed was the difference between the proprietary apartment, the item before you today, city acting as a man board, against the regulatory permit, w

certainly, to mr. john and gus constant, owners of john's grill for four years. it is an honor to be here. to have my picture up there. . a lot of water under p.m. very under the bridge. the firefighter was behing me, and taking good of us. i feel good about it. thank you. i think the world of chief s uhr. thank you to my co-workers. is all about teamwork. thank you very much. i consider you part of my team. thank you so much. it is a wonderful surprise. a wonderful tribute. thank you for those songs. my younger brother dan is here. my younger sister is here. and my mom, who is 86 years old. 86 is just a number. i am sorry. of all the things i've participated in, this is the most exciting moments. is part of the history, and my mom has dined here many times and has seen the pictures on the wall. thank you, mom. thank you very much. again i appreciate this. thank you. thank you to mayor lee and to john. for anyone here who does not know me and is here for our regular lunch, i am sorry for the interruption. [laughter] clerk: we would like to call this meeting of th

but i was struck by something mr. johns said something about the experience in great britain. be careful about tinkering. about take an already confused and confusing system and with all the best of intentions, changing it again. it seems to me that with your help and advice and mr. chairman and the committee zeroing in on things that are refinement, not sea change, i am willing to explore all sorts of modifications in the tax code including in some cases raising taxes on myself and others, but i think that the investments that have been made in the tax code to incent retirement savings, insurance, these are things that a lot of people are relying on. these are things that it takes a while for the consumer to be educated. and there are opportunities for a whole host of unintended consequences if we are not careful. so, i just -- i wanted to express my strong support for the committee working on this for the advice and counsel about refinement at a time when americans have hit choppy water economically. where millions of people have lost what they thought was the value of their

he said i'm going to the bureau of narcotics and dangerous drugs to see mr. johnlater who is ahead of it and i'm trying to get the badge when which i was at the dinner in los angeles when he saw this badge by a guy named paul friesz who we had a dinner through friends of elvis'. when elvis saw that badge that was the ultimate badge that he wanted in his collection, and for various reasons because it was -- he was respected overseas and he was planning on touring overseas. it was the ultimate. it was like -- it was kind of a james bond thing with a lot of respect for it. and he gave me the number of where he would be. these are things that elvis was capable of. >> so he knew the person that he needed to meet. i think senator murphy on

but i was struck by something mr. john said about the experience in great britain. be careful about tinkering. about taking an already con foufd and confusing system, and with all the best of intentions changing it again. it seems to me that with your help and advice and, mr. chairman, the committee zeroing in on things that truly are refinements, not sea change, i am willing to explore all sorts of modifications in the tax code, including in some cases raising tax >>> these are things that a lot of people are relying on. these are things that it takes a while for the consumer to be educated. and there are opportunities for a whole host of unyou intended consequences if we are not careful. so i just -- i wanted to express my strong support for the committee working on this for the advice and counsel about refinement. sorry i wasn't with you more, but i think your contribution is very important. and this hearing, i think is very important. thank you very much, mr. chairman. >> thank you very much. and to another ways and means member who also serves on budget committ

second round another factor to be considered but let's get more insight now are from our guest today mr john locklear from the institute of democracy and cooperation thanks very much after being with us today with regard to the the higher numbers that money and a pair of the far right have gone there's a lot of reaction here from the french press that this is a surprise to them what significance is this hold and how will the voters of marina kind of you think voters it's an absolutely incredible result and it's definitely the biggest story of this of this election how will the voters behave we don't know that is the big question marie le pen has said she will announce her choice on the first of may but. boyfriend the head of the fullness of the of the number two in the furnace you know who we are you said he will he will cost a blank votes on the first of may what does that mean though in ideology and what it means is that there is no certainty a tool that the fullness of the voters will vote for the right wing candidate nicolas sarkozy on the country one. the main reasons why the independen

now the witnesses, mr. john o'brien is director of health care and insurance for the u.s. office of personnel management. overseas, federal employees health benefit program. and more importantly for this hearing, the federal long term care insurance program. this program is the largest private long term care program in the country. mr. loren coleman is with the department of human services, with more than 25 years of experience with with long term care facilities, a host of programs for older adults, and is the leading force behind minnesota's transform 2010 program. which is designed to help the state prepare for retirement of the baby boomer generation. dr. aiken is president of the american action forum. he was chief economist with the council of economic advisers from 2001 to 2002. and he serbs as the director of the congressional budget office from 2003 to 2005. professor judy fader has had a long and established academic career, serving as dean of the policy in washington, d.c., from 1999 to 2008. today she's a professor at georgetown university, a fellow at the urba

there can be no political process with all political dialogue and frankly there is one thing which mr john and i hope is going to very soon clear cut agreement by opposition leaders to enter into dialogue with the syrian government that this so far has not happened. as far as the rhetoric between the u.s. and russia it's tense to say the least they're career state hillary clinton said russia's refusal to support quote unquote constructive action by the u.n. security council on the crisis in series keeping its president. assad in power but even though the u.s. accept it will be in its plan or we could refuse all sides of the conflict not just the syrian government washington who seems to could you know all responsibility in the hands of president assad and never mention the opposition which also has to lay down their arms. and chicken or porting live from d.c. thank you now turkey has hinted it may ask for nato help or to attempt to protect its borders after gunfire from syrian skirmishes reached its territory a few days ago to discuss the international reaction to syria with me now is patr

judiciary committee, a gentleman from michigan who has a long career of advocating for justice, mr. john conyers. >> thank you, chairman bobby scott. i would ask everyone to give you a round of applause. as a matter of fact, this is a forum. let's thank chairman bobby scott of virginia for all that he's doing. [ applause ] and with the tragic loss of one young man in our country, travon martin, which electrified the nation, here comes chairman bobby scott with a forum on the youth promise act. that's worth another round of applause because it's right on time. [ applause ] what this bill does is it makes us safer, and on top of it, it's cost effective and it brings greater hope and justice for our youth. as chairman scott said, we incarcerate more people than any other country on earth. and it's way too many and i celebrate what we're doing here today. i close with this observation. hill harper was late coming to this forum, wasn't he. and attorneys bobby vasser and attorney carol is thshadra and e trying to determine if we should issue a warrant or a subpoena to bring him here one way or

only when one side the extreme side the other one advances and how this is so long mr john was talking it's a most unusual slam closer than is going to happen this is going to continue because even if one party retreats the other one will. uneasier has declared that it will agree if you can eyes the syrian regime anymore why has taken this strong move to disconnect itself from syria. i believe for the fed the position of the stake head in tunis for elsewhere was based. on incomplete infantry's i would say incorrect i would say incomplete everywhere this was of course there's a there's even mistaken incorrect information which was presented tara pence and western governments when it was told when they were told that the regime is going to fall just within a matter of weeks so a lot of them wanted to be harnessed to this and just a great adventure really i don't conceal also my believe that anything you have perhaps the reason for some of these positions taken on that definitely. because the young man i knew government has got a place tough tests and they believe that they it's not is no

as to whether to give mr corps car plants was definitely a fight and it's just amazing mr john cores and probably has more influence in washington d.c. than any trader i have ever known and never had no. of course and personally and mr malone we have to leave it there the rest is of course history but important lessons as we look at regulation they continues to be. need or a lot beads so that it doesn't even get to the point that it had in the first place as i believe the volcker rule illustrates thanks so much that was mark maleng author and host of the uncorrelated and best in show. it's friday so time for viewer feedback in this week is a loose change dedicated your feedback as there were a lot of comments that caught my eye so earlier this week we talked about the expansion in drone education as it becomes a college major routes rules with quite successful looking prospects and eric friday of the daily reckoning i'm very touched to say he liked it and in his latest post on barrel drones and other and based of species quoted from the show here take a look at his piece as i said tha

second round another factor to be considered but let's get more insight now on for more of yesterday mr john laughlin from the institute of democracy and cooperation thanks very much after being with us today let's talk about this this feeling of lack of enthusiasm from the french people they're very disenchanted there's a there's a feeling that there's no solution presented out there how would this play out in the second round was difficult to say and you've just said in your remarks the lack of enthusiasm isn't reflected a tool in the turnout on the country it's been a very high turnout there are many conflicting emotions going on in this election so i don't think we can say with certainty a tool that will be at a low turnout on the sixth of may and with regard to the the higher numbers that might independent the far right have gone there's a lot of reaction here from the french press that this is a surprise to them what significance is this hold and how will the voters of marine le pen do you think voters it's an absolutely incredible result and it's definitely the biggest story of. this

unsurprisingly, there is a great deal of concern expressed eloquently in particular by mr. john smith, the late mr. smith who was the shadow dti minister. they were making the point, quite strongly, that you look to to the sunday times by itself that it was a growing concern and it was quite artificial, as mr. biffen was doing, it just to look at the 11 months of 1980 and refused to look at likely future performance in 1982 and '83. do you understand that? >> i understand what you're saying, yes. >> presumably you, mr. murdoch, who would be interested in the long term perspective, were doing that very calculations. in other words, you with looking carefully at what the predictions were for future years, and you were not looking just at the 11 months in 1980. is that right? >> i thought i did not know the paternal -- internal accounting. >> when he said to parliament i do not believe that that i was entitled to take a view on future prospects -- that was in a letter sent. if you had heard that, you would have laughed in were we? because that is exactly how you operated the other

john. i'd like to begin by thanking, of course, our co-host, mr. ferria, john and john from the office of the secretary of defense historian's office and our distinguished speakers for their wonderful comments today. i don't want to take up too much of your time today for those of you who have heard about our project. we have been dedicated to presecretarying the history of the vietnam war and promoting the study of the war so we can learn more about it and perhaps understand better those remarkable events. the archives, of course, compared to the national archives holdings are very modest. we have approximately 25 million pages of historical material focused on the war and that includes an oral history project where we interview participants and a virtual archive where we have made available approximately 3.5 million pages of historical text. outside in the reception area, we have some brochures. i'd encourage all of you to pick one up if you'd hike to learn more about our project. invite anyone in the audience if you're interested in participating

so for example, another team that went really far wasxavier i did that pick because the speaker mr. johnoehner is a graduate from there. >>> who dojo have it taking all the way -- who do you have taking it all the way >> i had ohio state winning and kentucky getting to the final. that is a family pick ohio state i have four generations of ohio state graduates in my family but kentucky is also tough because my parents both went to uk so if kentucky wins i will still be happy. >> is there a prize? what do you get? >> well, i as a 1% top finisher andly absolutely finish in top 1% i get put into a pool and i may win $100,000 home depot certificate. >> okay now that is not too shabby. >> no. >> you will be happy with that. >> yes. >> you work for tell us the congressman you work for. >> mr. gerry lewis, from southern california he represents inland empire outside los angeles part of the story that has come out is well, how does he feel about all this well, he is really excited just as surprised as i am and the rest of the staff because i know zilch about basketball but still disappointed at t

i didn't see him challenge mr. john mccain when he said he would electrify the fence.n you're a leader and you hear someone say something like that, you say no, not on my watch. i want to be a uniter. you solve the problems in a more humane way. they will make that effort. i don't think who you pick for vice president is really made a difference for the most part. they may try to do something like that. there's no question that they are going to try to move away from where they have been with respect to this primary. i think it's important for the media to make sure they are honest about who they are and what they have done. >> i have to ask you one last issue about the jails. the system is so big it makes national news. i know we have worked on issues in previous jobs. do you have an issue on what will happen with this huge old jail in los angeles the the sheriff talked about closings down? >> i think he's closing down the old part of the jail. that will be -- the devil will be in the details. i want to make sure whatever we do, we're not just letting people out. we'r

and said she insisted john edwards, she had to speak to john edwards and she said this, i heard mr. john tell me on the phone that he checked with the campaign lawyers and this is legal. get the money in. he was very short and very angry. not only is that powerful testimony, diane, if she is selling the truth, john edwards not only knew about this but was deeply involved in it. >> if she is telling the truth, he was smack in the middle of it. in the opening statement from his attorneys we heard he had this problem and andrew young was helping him out and he didn't know what the money was or where it was going. this is in direct contradiction to that. cheri young was so compelling on the stand today, i tell you, i think it was the most compelling testimony we have heard so far. >> take us inside. among the questions she had to answer is what was it like to essentially go along about your husband that originally came forward and can said it is my baby? >> yeah. there was a lot of matter of fact story telling in there. we heard a lot about rielle hunter's quirks and all that far and when th

mr. pilpel? >> to john stone, what is the other corner there? the southeast corner of the highlighted area, clarendon and johnstone? the northwest corner is judah? south of there, , is that correct? can you just walk me through getting from their along the south? what are those named streets, or how do you describe that, is what i'm trying to figure out. >> and then christopher. >> uh-huh. >> that is on the other side. >> that is crest mont. that is the cabinet. >> ok. and i guess my problem with this is not in describing it, crestmont and some point there, and it is to a point north, at fourth, it becomes very difficult to describe. >> difficult for whom? >> to the consultants, the lawyers, you know? rather than speak for them, consultants, would this be difficult to describe? >> it looks straightforward with the id tool. >> it certainly is a census block, no question, but the streets do not connect, so in terms of describing it, crestmont drive does not get to fourth and kirkum. >> i understand, and you just said it was difficult to describe.

mr. bill sweetnam. he specializes in benefits and tax counsel. fourth, we will hear from david john, a fellow and financial institution adviser at the heritage foundation. he has testified on the improvement of security plans. and we welcome mr. randy hardock. he is a compliance specialist and maintains a practice focused on rising on retirement and savings. he is testifying on behalf of the american benefit council. thank you for your time today. we have received your written statements and they will be made part of the record. each of you will be recognized for your aural remarks. mr. vanderhei, we begin with you. >> members of the committee, thank you for the opportunity to speak with you today on tax accounts. i am a research director of the employee benefit research institute. we have conducted research for the past 34 years. ebri does not take policy positions or lobby. we have extensive research or the last 13 years as well as annual analysis on the behavior of tens of millions of participants from tens of thousands of plans dating back as far as 1996. measuring retirement in

mr. obama's 20080 opponent, john mccain lashed out, writing president obama is shamelessly turning the one decision he got right into a pathetic political act of self-congratulations. and while mitt romney has praised the killing of bin laden, a spokeswoman said it's now sad to see the obama campaign to use the one thing that united us as a country to divide us and to turn focus away from his failure of an administrati administration. >> i think the way that we've handled it is -- represents exactly the balance you need to strike. >> another political controversy over credit taking when top romney aid told a washington forum that the only reason general motors and chrysler continue to exist is because president obama took mitt romney advice and led them into a structured bankruptcy. he said if not for mitt romney, they would not be vital and back in business today. lester? >> thanks. in a program note, robert gibbs and romney campaign senior strategist ed gillespie are among david gregory's guests tomorrow morn on "meet the press" here on nbc. now to the economy, which we learned this week

she tofd i heard mr. john edwards tell me on the phone he had talked to his lawyers. this was not a campaign donation. he said get the money in. he was very short with me and very angry. in the opening statement here, suzanne, we heard that john edwards didn't really know anything about this bunny money as they called it, but here is two people now, andrew young first and now cheri young saying, no, she's not the way it was at all. he not only knew about it, he was directing what to do with the money. >> and you mentioned that cheri said she felt bullied into agreeing that her husband would say he is the father of this child. who was she bullied by? did she describe or explain that? >> reporter: oh, yeah. by her husband a little bit, but really by john edwards. she said there was a phone call with rielle hunter, her, her husband, andrew young, and john edwards, and john edwards she said started on this campaign speech. she's very animated in the way she speaks. she said he started on the campaign talk, and, you know, it was good for the country and it was good for ame

our first presenter is mr. john maddox of the highway and national highway safety administration, the associate administrator for administration and research implementing safety initiatives with numerous topics nuking vehicle-to-vehicle systems, avoidance crash technologies, crashworthiness, and motor coach safety. i invite your presentation. >> thank you, dr. bruce, for that invitation, and thank you todd board for organizing this -- to the board for organizing this and inviting us. we're appreciative to have a chance to talk about distraction. as, i think you know, we've been working on distracted driving for the past number of years. it's unsafe. it's irresponsible. it can have very deadly consequences as we all know. in 2010 alone, more than 3,000 people in the united states lost their lives in crashes in which distracted driving was a factor. increasingly as technology evolves and changes, the potential for distraction in vehicles will rise. drivers, when dialing a cell phone, texting, and perhaps in the future

mr. joe johns in just a minute. >>> you're in "the situation room." where the president stands on the right of judges to overturn his health care law. pl plus mitt romney is already running into trouble with female voters. south carolina governor nicky haley tells us what he needs to do about that. and a plane crushes through the roof of a busy grocery store. somehow everybody survives. welcome to our viewers around the united states and around the world. wolf blitzer is off. you're in "the situation room." >>> the obama administration gives in and replies to a rare order from a federal judge. the latest round there a legal and political fight over the health care reform law. things escalated this week when president obama warned the supreme court against overturning himself cherished legislation. some appeals court judges took offense and demanded a written explanation. they got one. let's begin with cnn congressional correspondent kate baldwin. kate, the administration has answered this request. so where do things stand now? >> to use a sport metaph

plan after a telephone conference involving her husband, john edwards, and the actually 28 presidential candidate's mistress, rielle hunter. mrs. young said john edwards was explaining all the reason he would make a good president for america and she described a conversation she had with her husband immediately following that call. "i told him that i feel like everything had been dutched in my lap and everyone else was on board but me. and i didn't want the responsibility of knowing that because i wasn't on board, because i didn't want to try it the campaign would explode and i would have to live with that." >>shepard: thank you, jonathan. and now to our sign senior judicial analyst, judge napolino. so, does this testimony from the aide, andrew's young wife, help or hurt? >>judge napolitano: the government obviously things it hurts because the government now can say that it has placed john edwards in the decision-making process to spend the money. he has two defenses, i didn't know. andrew young does it. he was in charge of the money. the other against is subtle. any money that we spend in furtherance of the campaign is a lawf

that is exactly what the funding in this program is that mr. john deere is talking about. would eliminate a tax loophole -- john boehner is talking about. we would eliminate tax loopholes for oil companies. frankly, the notion we need to prop them up with more tax credits defies common sense. the senate has a proposal to close a sub-chapter s local. my hope is that we are talking of the same baseline of moving on an issue, and is really now a question of when and how, as opposed to whether we are exit point to fix this problem. host: maria, the bronx, a democratic caller. caller: good morning. i want to talk about the loans of the students. how could we get it to pay in for all of these kids that keep popping up? another thing is that a lot of times in class, these kids do not do their homework. they get these loans, their grants, and everything that people pay, and these kids do not even do the work. the other thing, the bilingual classes. i do not get it. we never had that before, all of these years, and the kids were doing just fine without this. how come we are bobbing