mr. peterson is on the line, and you are also an obama supporter. hi, mr. peterson. >> caller: hi. >> how are you, mr. and mrs. peterson. >> couldn't get through. >> all the lines are full. >> caller: that's a good thing. >>> we'll break away from this portion of this morning's "washington journal" and take you like to capitol hill with minority leader nancy pelosi. >> -- good to see all of you as this session comes to an end this week. this week the republican policies have run into criticism from some of their friends, their traditional allies, for the triple threat that they pose to the economy. former reagan economic adviser bruce babbitt, bartlett, former reagan economic adviser bruce bartlett says the republican tax giveaway to the rich and famous will, "do nothing whatsoever to increase employment and should not be taken seriously." the "wall street journal," their good friend, call it is a gimmick and a ploy saying their proposal would lead to misinvestment and other economic distortions. and the u.s. conference of bishops says the republican budget

mr. peterson was saying. there are lots of special interests in this town but not one sufficiently reflective of our views. that is also a challenge to us, the thinking should be different. >> absolutely. we need everyone in this room to help champion, i would say, public financing of elections, a constitutional amendment that says money is not speech. the battle for the future of this country is very hard to fight when we are outspent by corporate and special interest. [applause] i will leave it at that for now. i do think -- the work i do everyday, which is about how to revitalize the work of government and provide the basics needed in society, providing the structure of opportunity -- frankly, enabled me to sit in front of all of you today, which has been great. i do not see it fundamentally changing until we change the system. >> i would argue, require corporations to be more transparent about the cost of their supply chain, so that those of us sitting in washington, d.c. would know there is a coca-cola f

mr. peterson: i guess we'll reserve. the speaker pro tempore: the gentleman from oklahoma. mr. lucas: i yield to the gentleman from illinois, mr. hultgren, two minutes. the speaker pro tempore: the gentleman from illinois is recognized for two minutes. mr. hultgren: it's been a pleasure working with you and your staff during my first term in congress and in the ag committee. we've trying to protect them from dodd-frank red tape and that's why i rise in strong support of vicky hartzler's resolution. h.r. 3336 reduces unnecessary regulatory burdens on small financial institutions to ensure they can continue to provide capital to small businesses in their communities. the bill ensures that small financial and farm credit institutions will continue to provide swaps to their loan customers without being considered a region -- or registered as swap dealers. i am pleased that the cftc has come out with a ruling more favorable than the original legislation, but i think it's important to note that this bill ensures that the cftc provides an exemption from clearing for small financial in

mr. peterson was saying. there are lots of special interests in this town but not one sufficiently reflective of our views. that is also a challenge to us, the thinking should be different. >> absolutely. we need everyone in this room to help champion, i would say, public financing of elections, a constitutional amendment that says money is not speech. the battle for the future of this country is very hard to fight when we are outspent by corporate and special interest. [applause] i will leave it at that for now. i do think -- the work i do everyday, which is about how to revitalize the work of government and provide the basics needed in society, providing the structure of opportunity -- frankly, enabled me to sit in front of all of you today, which has been great. i do not see it fundamentally changing until we change the system. >> i would argue, require corporations to be more transparent about the cost of their supply chain, so that those of us sitting in washington, d.c. would know there is a coca-cola f

mr. peterson over at s&p capital iq for confirming that. bill and maria, back to you. >> all right.s on the markets this morning. initial jobless claims dropped to the lowest levels. retailers posted mostly strong sale numbers. while all of that should bode well -- >> the index measures how well economic data is doing compared to ekxpectations. when you look at the chart today, the index is on the verge of going negative, a sign that expectations are higher than what the data is showing. >> the economic surprise index. >> i always have a new chart for you. >> i know. i've heard it all. >> so are the fundamentals pointing to more stock market losses ahead? we did noticchan the mood of the market this week, especially after the minutes of the fed's march meeting came out and seemed to suggest that the fed was putting further monetary ease on hold. >> we don't need qe 3 if the economic data is strong enough that we don't need to have the liquidity injection. >> our expectations is a 50/50 chance on qe 3. but we're in the camp of a fiscal cliff in the second half of 2012. consumers and

mr. peterson. thank you for joining us. >>> next from damascus to tehran to pyongyang.k, it's not uncommon for the term "hero" to be bandied about. but does bringing a floor back to life really make us heroes? [ chuckles ] yes. yes, it does. ♪ call 1-800-steemer guys. come here, come here. [ telephone ringing ] i'm calling my old dealership. [ man ] may ford. hi, yeah. do you guys have any crossovers that offer better highway fuel economy than the chevy equinox? no, sorry, sir. we don't. oh, well, that's too bad. [ man ] kyle, is that you? [ laughs ] [ man ] still here, kyle. [ male announcer ] visit your local chevy dealer today. right now, very well qualified lessees can get a 2012 equinox ls for around $229 a month. [ laughs ] whoo. ♪ oh. nice! great! [ laughs ] a shot like that calls for a postgame celebration. [ male announcer ] share what you love with who you love. kellogg's frosted flakes. they're gr-r-eat! >>> the turkish government has reacted with fury after syrian forces fired across the bored entire refugee camps that had been established to house syrians f

mr. peterson is on the line. you are also an obama supporter it. caller: hi. host: antelope mrs. peterson. hello, as peterson. caller: we are supporting obama. he is levelheaded. he needs four more years ito do what he needs to do. he has really tried hard. host: house everything down there? caller: just fine. the camelot of tornadoes in this area. we have had a lot of tornadoes. we had 11 on the ground at one time in the metroplex and it did a lot of destruction, although we need the rain. host: nice to hear from you. caller: take care, peter. host: a few more numbers. mitt romney supporters, we have the number on the screen. how confident are you in the candidate's ability to make the right decision about the economy? 51% say president obama. next call comes from bristow, virginia, on our support president obama line. caller: good morning. host: why are you supporting the president? caller: mainly because i believe him and i don't believe mitt romney. like the first caller said, he is kind of detached from the rest of america. i don't hold it against him that he is wealthy. i am

regarding his tendency and references an attorney who is representing him at this time, robert peterson. mr. hanson is now on his third attorney. while i understand that mr. hanson may be disappointed about the fact that he is residing in an unwarranted unit, my clients are new owners, trying to do the right thing and remove what is not permissible.

mr. peterson, on june 26th introduced a bill to stop speculation. june 26th, 2008. in the morning it passed the house 402-19 that night. when oil goes over $4 nationwide, this will be a bipartisan issue and it must be explained that this is not a supply problem. the president just said last week, we can constrain the iranians oil production because, as he has said, as the saudis have said, as exxonmobil has said, supply is plentityful. we're a net exporter of oil. it is the gambling that must be stopped. here are my three things. the investment vehicles that have the fancy names of commodity index swaps and synthetic exchanges traded funds, much like the naked credit default swaps that led to the meltdown that wall street propagated as investments but were really bets on whether subprime mortgages were paid off, are a half trillion dollars of investments sending signals to the market, false signals, that there is a supply problem. and anybody who knows these markets and is objective says that those signals are damaging the supply fundamentals in this, in this market

mr. peterson, on june 26th introduced a bill to stop speculation, june 26, 2008, in the morning it passed the house 402 to 19 that night. when leal goes over $4 nationwide, this will be a bipartisan issue, and it must be explained that this is not a supply problem. the president just said last week we can constrain the iranians for the production because, as he has said and the saudis have said exxonmobil has said, supply is plentiful. we are now a net exporter of oil. it's the gambling that must be stopped. here are my three things. the investment vehicles that have the fancy names of commodity index swaps and synthetic exchange traded funds much like a naked crittenden called swaps that led to the meltdown wall street propagated as investments that were bets on whether the supreme mortgages are paid off for half a trillion dollars of investment sending signals to the markets, false signals that there's a supply problem. and anybody that knows these markets and its objectives says that those false signals are damaging the supply fundamentals and this market. that gambling must be stopped

mr. peterson said to have our voices heard. to hold our corporations accountable. account -- our academies accountable. our public institutions accountable. certainly, our politicians accountable. to urge you not only to go to economics or to run for office, but to go work for walmart. the work for coca-cola. the work in the corporate system to change the corporate system to help build a better world that we all want to live them. i think you have a lot of people coming and knocking on your door. >> in the himalayas. >> no. [laughter] [applause] >> thank you very much. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> this morning, bloomberg economics editor explains why the crisis is worse than you think. then the gun owners of america and the president of the brady campaign. >> today, on "newsmakers,"the ohio congressman talks about why he supports paul ryan's budget which passed the house on thursday. >> a lot of things are good about paul's budget. particularly, the policy statements w

mr. peterson just exhorted all of us, though i may not actually be a member, given that i am 32, probably much older than many in the audience. for young people to turn out in the tens of thousands, hundreds of thousands, even, to hold our government accountable for the decisions they are making now about our future, we certainly saw in the thousands and hundreds of thousands of young people turn out in the last 15 months from the arab spring to protest against higher university fees in chile, to protest for affordable housing in tel aviv, to certainly occupy wall street where i live in new york city. and yet, as much as young people may be in the vanguard of so many of these social protests and social movements, we are notably behind in employment, painfully behind in employment. in the united states, youth unemployment has been above 16% now for 36 months. last month, it was 16.5%. in much of the developed world, it is actually higher. in the eurozone, it is 21%. in greece, which many of you have been watching over the last few months, it is just below 50%. in the developing world, it i

peterson and walz. those are the democrats that voted today with republicans to keep the student loan interest rates the same. so, mr. speaker, it's my great hope that while the president's running around the country condemning republicans for not caring about the plight of students who have to pay student loans, and about the fact that he says republicans are going to double the student interest rates, i hope that somebody who's not out campaigning, like the president, down the street that way on pennsylvania avenue will get something into the president's teleprompter that advises him, hey, you may want to back off of that. the republicans with only 13 democrats voting with them actually voted to extend the same interest rates. now, i feel like the democrats would agree with the fact that we believe that in order to keep from having expenses continue to go out of sight as they did during the two years that congress was completely controlled by democrats and they had the white house, they did whatever they want, they passed a rule, pay as you go. and actually i broke ranks and voted with them. others told me they do