national share. these are powerful economies. they're bigger than national economies. in many respects. and now they're stepping up and saying, you know, if washington can't lead, if our state is adrift, we need to be the vanguard of policy and innovation. this can spread across the united states. we're more powerful. we are rich in leadership. we need to step up. >> if i could just follow up. what we want people to take away is that if their place isn't doing it, there are a lot of lessons there. they should be doing it. if the leadership is not providing something in metropolitan areas citizens to step up and say why can't be as great as portland, as los angeles as detroit or new york on these issues. >> woodruff: jennifer bradley, bruce katz, the book is the metropolitan revolution. we thank you both for being here. >> thank you. >> ifill: again, the major developments of the day. the u.s. supreme court decided against striking down affirmative action, opting instead for a narrow ruling that sends the issue back to a lower court for a second look. >> ifill: and that's the newshour fo

. >> all these threads is something that makes up "nation's economy."an't wait to see it. >> you're going to love the show. >> make sure you watch morgan spurlock right here on cnn at 10:00 p.m. on sunday, "inside man." >>> do you know what the most important word on wall street means? >> the taper? >> yes. >> i don't know. >> what are the politics? >> what is the taper? >> i'll tell you what it is and why you're 401(k) is riding on it. >>> so your 401(k) is probably worth less than it was the start of the week, sorry. investors got spooked and there is one word driving that fear. taper. taper. wall street's latest obsession. hollywood has "it" girls, wall street has "it" words. >> we have to stop with the bond buying and start to taper. >> taper is the latest "it" word. >> this is the top 10 list. >> reporter: it won't make letterman's top 10 list. >> what is a taper? >> reporter: it's not a zoo animal or a cnn anchor or a way to wear your jeans. it's fed chair ben bernanke's toughest job yet. how does he taper down from historical stimulus? it likely

technology sector and hive science sectors that are really a big difference compared to the national economy. >> city councilman tells us they will also break ground on a new hotel and high rice. >>> a house for sale comes with an unexpected perk. how about this, a brand new tesla. you buy the house, you he go the new car. the home was just renovated by an environmentally conscious developer. it includes 14 solar panels and a charging station in the garage for that brand new tesla. the garage or the house is a four bedroom, three bath on coke lane in the willow glen neighborhood. asking price is 1.3 million bucks. i haven't heard of that yet, but it shows you how strong this real estate market is. >> yes, a good incentive. and your forecast something to look forward to. >>> it has been kind of tough outside with the humidity levels way up there, 70 to 80% and feeling more like hawaii. now 77 degrees in san jose where we have the sunshine around the santa clara valley. first, looking off toward downtown san jose, mostly sunny skies. san francisco looking a little different there. at times som

technology sector, and life science sectors that are really a big difference compared to the national economy> the city council says over the summer, developers will also break ground on a new hotel and another residential high rise in the downtown area. >>> back in january of 2012, we broke ground on something new here, a regular series high lighting the positive stories and people making a difference. >> while our series has reached a milestone tonight, 100 stories. here with an update with some of the people profiled is garvin thomas. >> the series grew out of a conversation. one we had been having with our viewers for years. why so much bad news? why are all the stories of good (t&háhp &hc& they are out there, from remarkable teachers to volunteers, we found 100 of them so far. many whose good work keeps getting better. >> it started with a single solid but gentle tap on my shoulder, a single tap, and i knew it was too solid to be human. >> that was bryant austin describing his first encounter with a humpback whale. upclose photographs of whales to create life-sized portraits of them. his

only as members of the congressional back caucus but important to us as a nation that we recognize those who spurred the economy. so often we think it is the large industrial operations that make up the businesses in this wonderful country. but if you thought about where do half of this nation work, they work in small businesses. they own small businesses. you see, small businesses in america has been the stable force in the economy. entrepreneurs are the backbone of creativity and production. small business is what stimulates the economic growth. 60% of all private sector non-farm jobs coming from small business. it is a proven fact that small businesses are critical to the united states' economy. minority-owned businesses are also very important to the economy. the strong growth in owner income decreased in the amount of companies going bankrupt, is a great sign. self-employment figures are also growing in this nation. as a matter of fact, in the last year alone, small businesses created nearly 700,000 jobs, accounting for 40% of employment gains across companies of all sizes. you see, i know firsthand the va

[speaking in native tongue] >> translator: the national economy is a very complicated and fluid system. it changes every second. so you cannot plan for it to go away. [speaking in native tongue] >> translator: that is why everyone, everyone from the chinese government has done this. it was a huge waste of resources. >> it reminds me of the stimulus plan. [laughter] [speaking in native tongue] [speaking in native tongue] >> translator: the plan of the economy really was providing the political base and system for a dictatorship. because it is about debating the government. .. [speaking chinese] >> translator: so that's why at that time such expansion of political power extended to every fact, every school, every inch of the land, every form, every village, every school, everybody, everybody's mind and everybody's thought. [speaking chinese] >> translator: what each individuals stomach held and what they were thinking can each individual spots were controlled by the government. [speaking chinese] >> translator: that's why i call it total terry newsom. that's when the power expanded to th

technology sector and life science sectors that are really a big difference compared to the national economy. so we think that continues over the next several years and that's why this investment makes so much sense. >> residential living is the linchpin, critical path for revitalization of cities throughout the western united states and no truer than anybody in san jose. >> reporter: over the summer, developers will break ground on a new hotel ands are ens high rise in the downtown area, looking at three major projects breaking ground over the summer. this development spurred not only by confidence in the reduce construction fees that the city has agreed to cut in half. reporting live at one south market street, downtown san jose, bob redell, nbc bay area news. >>> today is the day steve jobs would be proud of, because one of apple's original creations go under way in the south bay. talking about the apple one computer. there are fewer than two dozen left in the entire world. this one was signed by apple co-founder steve wozniak. check them out at mountain view's computer history museum in

he is rector of the russian presidential academy of national economy and public administration hons york he is chairman of the management board of the investment banking division of barclays are meant to sign here for isn't it of the eurasia house international and we also had an independent economist. let me go to you first. do we have capitalism today well i think. we have the capital. of the world and people rich people can move around and that is that capitalism well i think capitalism. capital is. looking for opportunity and i think. how we do it define capitalism traditional economic theory we see it's competitive markets and capital competitive markets put an extend i think of this is being subverted because. on the one side. we see the rise of state capitalism everywhere on the other side or people would say corporate capitalism and only when we have. the other side we have a. capitalism that's sort of relationship based kept advocation then we have a financial capital as a way speculation now i think of these three forces. really undermining the the the the world of market econo

vladimir maal he is rector of the russian presidential academy of national economy and public.

flatter me or he is rector of the russian presidential academy of national economy and public administration. he is chairman of the management board of the. banking division of barclays arman sarky sign he is president of the eurasia house international and we also had andy shay an independent economist. and let me go to you first here. do we have capitalism today well i think that. when extending is a we have extreme capital as in capital. of the world people rich people can move around and that is a capitalism while i think capitalism in. capital is movable and looking for opportunity and i think how we do with a fun capital isn't traditionally economic theater we see it's competitive markets and our capital is a competitive markets to that extent i think of the systems being subverted it because. on the one side is the government intervention we see the rise of state capitalism everywhere on the other side or people would say corporate capitalism you know we have. the other side we have a. capitalism that's sort of a relationship of the advocation then we have a financial capital as and w

another book how impossible they -- [inaudible] [speaking mandarin chinese] >> translator: the national economy is a complicated fluid system. which changes every second. [speaking mandarin chinese] expwhroit >> translator: the plans cannot go with the changes. [speaking mandarin chinese] >> >> translator: each and every five-year plan from the china government had been a failure. [speaking mandarin chinese] >> translator: every time when the failure happened with those huge waste of resources. >> reminds of the stimulus plan -- [laughter] , you know, if we didn't enact it would go to 8.5%. we did enact it and it went to 10. [speaking mandarin chinese] >> translator: the planned economy really it was provided the political base and system for a dictatorship. it's about abandoning the government. [speaking mandarin chinese] >> translator: it's the government with the -- [inaudible] [speaking mandarin chinese] >> translator: every manager and everybody in the management everybody in the production had to carry out such orders. >> translator: under such circumstances, it's impossible to talk about

capacities we contribute we pay full federal taxes over four billion dollars pumped into our national economy and we are denied the basic rights of american citizens so i spend my days trying to change that it's in our. it's unjust it's really un-american and we look forward to the day when we can get not extra rights not special rights but equal rights for a fellow citizens it's quite interesting that in the heartbeat of the country the people here don't even have representation and in the senate and in congress but on the other side the district of columbia their council has been just riddled with corruption unfortunately you know former council member michael brown he just pled guilty for bribery and you admitted to setting tens and thousands of dollars in bribes he's now possibly facing years in prison and this is just one example we three of the thirteen council members are currently under investigation and i mean how has the district leadership proven that they're ready to be have the responsibility to come along with being a say well public corruption is a horrible thing when it happen

capacities we contribute we pay full federal taxes over four billion dollars pumped into our national economy and we are denied the basic rights of american citizens so i spend my days trying to change that it's in our age it's unjust it's really un-american and we look forward to the day when we can get not extra rights not special rights but equal rights for a fellow citizens that's quite interesting. that in the heartbeat of the country the people here don't even have representation and in the senate and in congress but on the other side the district of columbia their council has been just riddled with corruption unfortunately you know former council member michael brown he just pled guilty for bribery and you admitted to setting tens and thousands of dollars in bribes he's now possibly facing years in prison and this is just one example only three of the thirteen council members are currently under investigation and i mean how has the district leadership proven that they're ready to be have the responsibility to come along with being a say well public corruption is a horrible thing when i

so he worked on trying to build infrastructure, roads, bridges, canals, trying to improve the national economy he was a member of the poster is committee so he returned to expand mail delivery throughout the united states. he ended up helping to pass the initiative. this is someone who worked hard for constituents and played a role in big national issues. he was one of the first supporters of zachary taylor for president. they call themselves the young indians. he and alexander stevens became vice president of the confederacy. >> host: what was lincolns forayed politics? >> guest: lincoln was a member of the illinois state legislature in heavily democratic state if you are an ambitious whig politician come you are going to be elected senator. the one seat was your only hope. so he runs, looses, is able to come back for your seder and successfully secure and gets all this incredible experience and know-how. the first and only president that gets to watch on the job before he becomes president himself. >> host: what was the political landscape like? >> guest: notably those, but is intensely para

san francisco seo board is speaking right now on the nation's economy and the steps the fed is takingew moments ago and monitoring those comments we have peter barnes. >> the third fed speaker today now president williams of the san francisco fed weighing in on taper or not to cheaper.3 is it time to act? my answer is still too early. but we need to be sure the economy can maintain its momentum in the face of ongoing fiscal contraction and also prudent to wait a bit to make sure inflation does and keep coming in below expectations possibly signaling a more persistent decline in inflation. so to keep a tally six other fed officials spoke out to further clarify the chairman ben bernanke and his press conference last week which caused all kinds of. @%d sinn in the markets. cheryl: the markets have calmed down and they seem that they are on the campaign to call the market's done i am not sure what tail is wagging said dog but somebody seems to tell him to push the agenda just a little bit? >> it sure feels like it is the talking points went out. and they'll say the same thing even geoffre

so their economy has grown 16% over the last four years. compared to 10% on the u.s. nationalrage. melissa: yeah. >> tennessee, think aboutll the auto manufacturersigrating to tennessee. each state is basically in hand on hand, you know, combat with next state to attract jobs, to attract businesses an to create jobs. what they understand, business and job creation is ctical to their surval. they have to make really smart decisions not only being attractive to businesses but being conservative really careful with their money so they ca have state of the arthey infrastructure, what businesses really wan melissa: as we're talk about states, you're so famous for the bet thaw made on subprime without question. you were likehe harbinger o deatfor so long. everybody time you came out talked about a company, bank, financial and talk about what they faced ahead on their bance stet, youere right. ter on you talked about municipal bond and, said that there's a looming municipal debt cris that has tentacles as wide as anything i've seen. it is certainly the largest threat to the u.s. econ

>> shepard: positive signs today for the nation's economy.p more than 12% in april last year. biggest yearly rise since 2006. that's according to the s&p schiller index. home prices nationwide jumped april to april. biggest jump ever. several major cities prices shot up more than 20%. more buyers, limited supply of available homes. the news helped the dow finish up trintle today after four straight days in the red. hey, adam. >> this is pretty good news not only for the economy but people in las vegas and phoenix who suffered very hard who suffered in the housing collapse phoenix up 22% year over year. las vegas up 22%. those of you who live in san francisco where housing prices are already to the moon. 24% increase here year over year. still tough in san francisco. but recovery for phoenix and las vegas. detroit still having trouble. they are the only major city where prices did not go up year over year. one other thing today, shep. new home sales. we are on a trajectory to have the best new home sales season in five years. >> shepard: wow,

well, the nation's economy is in good shape and employment is good and life expectancy is high and thend move to australia or down and move to australia? maybe not. what i found interesting is that australia only does best if you measure all the factors in the study equally. take a look what happens if you prioritize different factors. for safety, japan ranks highest. in terms of overall life satisfaction, switzerland is first. if you want the best education, go to finland. if you prioritize the environment, sweden would be your choice. but if you are looking to maximize income, the u.s. far outranks the rest. so, the question is, what makes you happy. the correct answer to our gps challenge question is william the conqueror. marched to london after the battle of haste aings in 1066 and chose westminster abbie for his crowning on christmas day of that year. the building we see today having been constructed over centuries. the famous chair, however, wasn't constructed until the 14th century under king edward i. i thought my chair was old. thanks to all of you for being part of my progra

immigration reform will jumpstart america's economy and reduce our national debt. he went on to say i urge congress to fix our broken immigration system for the sake of the american economy. now, i don't usually agree with grover norquist, so the fact that we can actually agree on this issue means we have done something right in the gang of eight, something worthy of the support of even some of my most conservative colleagues. i think -- i think my friends on the other side are out of arguments. a good job of bottom lining the c.b.o. analysis. he says -- quote -- "this isn't just a good c.b.o. report. it is a wildly good c.b.o. report." they are basically saying immigration reform is a free lunch. it cuts the deficit by growing the economy. it makes americans better off and it makes immigrants better off. at a time when the u.s. economy desperately needs a bit of help, this bill, according to the congressional budget office, helps, and politically it forces opponents of the bill onto the ground they are least comfortable occupying. they have to argue that immigratio

intrigued me, well, two things, one, the company at that time was big enough to really affect the national economy, and i was a macro international economist, and the other thing was, here, i had this whole economic training, and i think of training in a field of creating a filing cabinet, break down problems, and reassemble them, and i had this mental filing cabinet and the vocabulary that went with it, and i was presented it always to a captive audience of students, and i thought, gee, it would be interesting to see if this can be effective and persuasive with a noncaptive audience who don't share my vocabulary or my mental filing cabinet or whatever, so i became intrigued. now, actually, this was in january, and i didn't say yes until may or april because it would clearly mean commuting marriage. bob was teaching at pitt, and as long as i had a child at home, i was not going to do that. our son was at yale, but our daughter was in high school, and she, for a set of reasons of her own, wanted to go to boarding school. she did not want to go back to school she'd been in in pbsz, which we were int

this is about the national economy. this is about growth and employment in the country.ut greater revenues for the country, as i said on the floor a little while ago. and so we can either legislate or we can spend our time investigating. i don't minimize anything that may be an issue that should rise to that. but the reality is we are here to legislate, solve problems. this is an opportunity to do it. we have a comprehensive and bipartisan effort that should prevail. >> senator robert menendez, thank you for your time tonight. >> thank you, reverend. >>> joining me now is former white house press secretary robert gibbs. he is now an msnbc political analyst. first of all, robert, thank you for coming on the show tonight. >> reverend, thanks for having me. >> let me ask you this first. how important was today's vote for the obama white house and this president's second term? >> i think immigration reform is the linchpin of the second term. this was a very important vote to move to the debate in this process. i do think, though, the course of the next three weeks are going

as they link our nation to the rest of the world and the global economy. each day our ports move both imports and exports totaling some $3.8 billion worth of goods through all 50 of our states. and according to the american association of port authorities, the u.s. port industry supports 13.3 million jobs and accounts for more than $649 billion in personal income. that's why i co-founded the bipartisan congressional ports caucus with my good friend, ted poe from texas, in order to ensure that congress recognizes the vital role ports play in our national economy and the importance of keeping them competitive and most importantly secure. despite their growing importance, ports have failed to garner the attention and the resources that they deserve. during my very first homeland security hearing, i asked lee hamilton, the vice chairman of the 9/11 commission, what should congress be doing to improve security at our nation's ports? he responded by saying, my judgment would be that we have not focused enough on our ports. for instance, despite a peak funding le

was a national economy. the people you traded with and sold with and competed against they lived in your own country. probably in your own state and community. today we are involved in global competition for business, client, and talent. we have to understand our immigration system has to reflect that. the way people immigrants and who immigrants here now has to reflect the 21st century reality. which is why this country needs immigration reform. all the attention is being paid to illegal immigration. that's a serious problem. i'm going to talk about that in a moment. issue number one, the fundamental reason why we have to do immigration reform we do not have a 21st century immigration system. our immigration system is largely built on the idea if you have a relative here it's easier to come than a special skill or talent offering to the country. we don't have a merit-based system. we have a family-based system. i say that as someone who came on a family-based system. my parents came because her sister. the

it's where the growth in our national economy is going to have to take place in we are going to continuethis country. >> and finally, before you go, you and i spoke after the moore problems, the tornadoes, and i just wondered how they are doing, if you know, how oklahoma city is doing? how is the recovery efforts coming? >> well, you have to divide that answer into three categories. the emotional, the physical and the economical. the emotional impact of losing the children in the school is still being felt. physically that relatively small part of our community that got hit by the tornadoes is going to take a year or more to build back. and the economically -- we are going to be fine. we have the lowest unemployment rate in the country, we'll be okay there, but the emotional aspect takes time. we appreciate your concern. we have heard from a lot of people around the country and appreciate all their concerns. >> mayor mick cornett, thank you. >>> we are learning what type of information the nsa was allowed to keep as part of the surveillance program today. according to documents obtained

yesterday, of course, liquidity worries, concerns that a credit crunch could slow down that nation's economy even more. chinese policy makers stepping in and easing the worries. a lot of economic data better than expected. durable goods, richmond fed, consumer confidence and what's working today the cyclical sectors, the economically sensitive sectors, banks benefiting from the steepening yield curve and better data suggesting an improving economy. certainly home builders another sector we're watching. new home prices beat. hov and spf and ones we're watching closely in today's trade. >> we'll talk more about housing in just a movement thank you very much, josh lipton. let's get out to rick santelli. it's limp been a ric week, right, since the fed meeting. how much investors have slashed their bullish treasury bets? >> it's like we talked before this spot but didn't. let's look at a one dark week chart of tens. a week ago, settlements back to back of 2.18. add 40 basis point and you arrive at the 2.58 and 2.59 current level. if you want to look the short by wild move go to may 1st when we we

national security. it will be good for the economy. it will be good for james and sharon courtney and millions of families just like them. james, a veteran, sacrificed his time, his health to keep this nation safe from harm. he's now disabled. at least we can thank him -- we can at least thank him by keeping his family safe and together. would the chair announce the business of the day? the presiding officer: under the previous order, leadership time is reserved. under the previous order, the senate will resume consideration of the motion to proceed to s. 744, which the clerk will report. the clerk: calendar number 80, s. 744, motion to proceed to calendar number 80, s. 744, a bill to provide for comprehensive immigration reform, and for other purposes. mr. reid: mr. president, i would ask the chair at this time recognize the senator from hawaii, senator schatz, who replaced senator inouye. i understand he's going to give his maiden speech in the united states senate today. i would ask the chair recognize him. mr. schatz: mr. president?

that is a giant shift in our nation's economy. on the natural gas front with the price being so cheap many more companies announced they will change their fleet to natural gas vehicles instead of regular vehicles so what is that doing for the bottom line? what used to happen is it would take four or five years before it becomes profitable for the equipment to start it. now does taking one or two years for those things to be profitable. it allows them to expand and hire more people. so we see this oil and gas boom in the united states steadily gross domestic product thing were more money coming into the country, shipping out more oil, but we are getting a edge in manufacturing that we think has a resonating affect for our economy in years to come. connell: best to add the last portion of equal some, stock prices continue to go higher, broadly speaking. as resul a result of the theory? >> no. the parallel industry is one industry. you know about the atrocities we hear about workers being chained to tables and made to work for very l

developing economies are taking center stage signaling big changes in the world of finance business presenting katie pilbeam now looks at how emerging markets are surpassing developed nations. developing countries now account for overhaul of the world's economy and with this growth comes power so which nations are we talking about that well if we look at this map we can see that the developing world is overtaking the developed world and if we wind the call back we can see that back in one thousand nine hundred eighty two the developed world account of the sixty nine percent of the world economy while the developing world took up just. false forward all in thirty years the a mugging economies will make up nearly three quarters of the world economy by twenty seven tane so is this economic shift changing the balance of power i asked legendary investigative raja's exactly that. we're already seeing it it's not just the faster the world economy it's creditor nation or the new nation as well historically people like great britain america finance developing nations as if they could grow but now it's the developing nations which have the money to develop the i don't know if you've

the nation should know that the economy of the nation is in very bad phase and it's the same big problems. i assured the nation that i will not spare a single moment to change the fate of the country for the fate of the peep of m.i.t. and will also do the same. as this responsibility is on my shoulder, every moment is precious to me and i will not spare any time to solve the issues facing the country. the focal point of my policy will be in the field of agriculture, industries, commerce. by creating a strong infrastructure will be the priority of my government. initial steps have started. my government will not tolerate corruption. those who enter corruption will have two face tough accountability. we have nepotism and favoritism. we have devised a transparent system for the peep of who would be appointed in high positions and only be made on merit. it will be floated the international and whoever oversees packet than will also be invited to serve the country. the purpose of this change is to ensure that only meritorious people should have the reins of the country and nyhan. every step of

-mexican border is one of the country's safest cities in the heart of a vibrant national economy. the truth is we spend more on border security each year, about $18 billion, according to a recent migration policy institute report, $18 billion a year. we spend more on that than we spend on the rest of federal law enforcement activities combined. just think about that for a moment. we spend more on border, enforcement, border security than we spend on the f.b.i., drug enforcement administration, bureau of alcohol, firearms and the u.s. marshals combined. since 2000 the border patrol alone has more than doubled in size. its funding has almost quadrupled. we built more than 650 miles of fencing along the border. tphaofs roughly a third of -- that's roughly a third of our mexican border. where the fence might not be as effective we deployed a number of force multipliers and i'll talk about those later. i'm talking about technology that will help the border patrol do their job more effectively. in some parts of the border it might be radars, it might be drones. in others it might be cam

economy. becoming a nation of builders again means finally pursuing a true all of the above national energy strategy. developing america's energy resources is, in our view, one of the best opportunities for robust and sustained economic growth. it is not just our new economic frontier. it is just like the internet was in the 1990's. america has now a combined oil, coal, natural gas resources than any other nation on earth. we are sitting on the gateway to prosperity. an oil and natural gas renaissance is in full swing. here in washington, we have got an administration that will not let us build the keystone pipeline. but instead employs endless chains of reviews. think about it this way. imagine if the clinton administration had told the budding tech companies in places like silicon valley or reston, virginia, that they needed to hold off on their plans indefinitely because the federal government, even after years of reviewed had not yet determined that the internet was safe to develop. imagine that after years of study, the ministration told america's private sector innovators that they needed to h

forward is to continue to ensure our nation's safety while balancing the need of our border communities to thrive and benefit from their unique binational culture and economy. the mission of customs and border protection and to both safeguard our nation's borders and facilitate lawful international trade and commerce. however, in the paso del norte region, which includes both west texas and southern new mexico, not all of our port of entry are operating at full capacity. the high volume of commercial vehicles attempting to cross at the el paso ports make it extremely difficult for c.p.b. to efficiently service all the would-be crossers while also maintaining security. my amendment to extend the hours of operation at the nearby santa theresa point of entry will lead to more efficient trade between the united states and mexico, will help to grow our economy and create new jobs and invest in border security effor effortt our nation's ports. on the subject of screed commerce in the paso del norte region, i'd like to thank secretary napolitano for doing her part. earlier this month she announced a plan to increase the border zone in southern new mexico. this ef

economy. this bill is good for our national security. no one can get a grown card until the border security measures are up and running, until e verify is up and running controlling the job in america. as to the 11 million we have an earned pathway to citizenship but they have to get in the back of line before they can become a citizen. they cannot cut in line the this we have to pass two english proficiency. whats. i reject being the middle east for those who cannot be part of america. we are different than the middle east and europe, out of many, one. this is a good solution for our national security and our economy and for the 11 mill but if we do this bill, there will be no third wave of illegal immigration. >>chris: another objection mentioned, the idea this will be a huge,200-page bill, and i heard you complain about that during obamacare, the idea you have this huge bill that no one has resolution and why not take it in more bite-sized pieces. why not in this case? >> well, look at it this way, give the republicans all the border

what they mean for your bottom line as well as for our nation's economy and what's ahead. >>> plus, more a swiss air flight at new york's kennedy airport. you won't believe what the thief or thieves actually left behind. we're live at the breaking news desk with this incredible story. for a store near you go to benjaminmoore.com/bayarea. jon: well, thieves make off with more than a million dollars in a brazen heist, but they left behind a whole lot more. rick folbaum live in the newsroom with that story. >> reporter: jon, this was cash that was headed from switzerland to new york. the federal reserve bank of new york, to be exact. except somewhere between zurich and jfk airport more than a million dollars of it went missing. government bankers noticed they were short while they were counting the loot monday morning in lower manhattan. twelve bundles of $100 bills, each bundle worth a hundred grand gone. the fbi says it's investigating, of course, but get this. as you mentioned, whoever took it must have wished they had a bigger duffel bag because $92 million was left behind. now, one the

the factors affect development of the economy, notably among them the nation's political institutions, but over no factor isod, bigger than scientific progress. when the industrial revolution took hold in europe, the standard of living throughout most of the world changed little from generation to generation. for centuries, many, if not most people, produced what they and their families consumed, and never traveled far from where they were born. by the mid-1700's, a growing scientific and technical knowledge was beginning to find commercial uses. since then, according to standard accounts, the world has experienced at least three major waves of technological application and innovation. the first wave drove the growth of the industrial era, which lasted from the mid-1700's to the mid-1800's. this heiress of the invention of steam engines, cotton spinning saw the invention of steam engines, cotton spinning machines and railroads. it greatlyess, increase the productivity of workers and reduce the costs of basic consumer goods. the second extended wave of invention coincided with the mode