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navy federal too. he's getting a great rate - so now he can drive himself to laser tag. it's a real sport. no, its not. 4 million members. 4 million stories. navy federal credit union. >>> general mark welsh became the 20th chief of staff on august 10 starting the tenure with major challenges. for starters, congress rejected 9 billion dollars in cuts mandated by the obama administration under the terms of the budget control act to protest the air force desense to cut guards and units and leadership and pen knell issues as well as risk of billions in automatic defense cuts that could hit the services key acquisition programs. here to talk to us about welsh's challenges and priorities is chuck wald retired four star general the director of the defense practice at the federal government services. welcome back i should say. >> thanks good to see you. >> what are the cheal exthe new chief face -- challenges the new chief faces. >> you mentioned a couple. it's budgetary issues and recap tallation of the fleet after many, many years of hard flying and combat situations. as a matter of fact not just the last ten years but the previous ten before that. so 20 years of pretty

just like i had navy federal credit union... 24/7... live customer support! let's go! let's go! on members. 4 million stories. navy federal credit union. >> osgood: talk about an offer you can't refuse. jim axel rod gives us an early look at some auction items that will tempt the god matter himself to make a bid. >> reporter: bobby livingston's family has been auctioning rare artifacts for 30 years, a letter from washington, a signed picture of einstein, but they're about to hold their biggest event ever at this amherst new hampshire auction house. it's not the heroes who are the headliners. >> washington, lincoln, churchill. al capone? >> you know, al capone is one of those figures, those mythic iconic figures that represent something to pop culture >> reporter: even the gangsters get the white glove treatment. later today 130 rare pieces of gangster memorabilia from the '20s and '0s go on the block. items gathered from private collectors during the last eight years >> with the type of interest we're getting, i not be surprised if this was a seven-figure auction >> reporter: inc

just like i had navy federal credit union... 24/7... live customer support! let's go! let's go! bers. 4 million stories. navy federal credit union. brody >> osgood: as television's new season gets underway the tv business is pausing this evening to offer the old season one last hurrah at the annual emmy awards >> this calls for an expression of gratitude. >> am i about to get a rare sheldon cooper hug? >> not this time or they wouldn't be special. thanks, penny. >> osgood: there is serious competition in the comedy category with cbs's big bang near owe up against nbc's 0 rock and abc's modern family. then there are hbo's three contenders, girls and veep. needless to say there's drama as well in the race to the best series. >> you're talking about prostitution. >> i'm talking about business at a very high level. >> osgood: madmen is looking for a record fifth consecutive win. but faces stiff resistance from its a.m.c. sibling breaking bad not to mention british import on pbs, game of thrones both from hbo and a dark horse challenge from a rookie series, the show time drama homelan

just like i had navy federal credit union... 24/7... live customer support! let's go! let's go! 4 million members. 4 million stories. navy federal credit union. >>> so standing american science in the age of face cal austerity. i'm -- fiscal austerity. i'm steve usdin, welcome to "biocentury this week". >>> posterity is putting american biomedical science at risk. funding hasn't always been a struggle. bipartisan enthusiasm for bioscience led congress to double n.i.h.'s budget from 1998 to 2003. a bigger budget now more than $30 billion stimulated universities to ramp up ph.d. programs and use generous overhead payments from n.i.h. grants to fund labs and bulk up administrative staffs. but the budget has been almost flat since then. accounting for inflation, n.i.h.'s spending powers actually declined about 15% since 2003. more scientists means more demands are be placed on limited resources. n.i.h. accepted only 17% of applications in fiscal 2012 making it the hardest year ever to get a grant. if congress and the white house can't find a solution to budget sequestration, n.i.h. c

navy federal too. he's getting a great rate - so now he can drive himself to laser tag. it's a real sport. no, its not. 4 million members. 4 million stories. navy federal credit union. we have tried very, very hard and i think we have been successful at the federal reserve to be nonpartisan and apolitical and we make our decisions based entirely on the state of the economy, and the needs of the economy for policy accommodation. so we just don't take those factors into account and we think that is the best way to maintain our and maintain the trust of the public. >> question. the u.s. federal reserve has launched an open-ended program to ignite a recovery by injecting an extra $40 billion into the economy each month. how does the fed do it? it buys mortgage-backed securities. can you tell us more on this mort? >> yes, well the purpose of the thing is to improve the liquidity in the country and to keep interest rates very low. he will accomplish boeing objectives -- both objectives. the real problem is this is the third effort of the same kind and it has had little effect in terms of getting the economy to grow. there is an argument it prevented the economy from gettin

just like i had navy federal credit union... 24/7... live customer support! let's go! let's go! vy federal credit union. >> osgood: a new motion picture with apparent references to a controversial religion has been generating a lot of talk. our david edelstein has a review. >> reporter: what's been a not-so-quiet week in clearwater, florida, home at least on planet earth to the church of scientology. vanity fair ran a barn-burner cover story on the church's whacky process of picking a mate for its most visible member, tom cruise. now comes paul thomas anderson's fictional film about a leader reportedly, allegedly, said to be modeled on scientology founder. i've added those weesly qualifiers as protection against the most litigious religious leaders since the spanish inquisition, not that the master is a cartoonish hatchet job. it's a somber magnificently photographed drama cool headed bordering on glaicial. the title character is lancaster dodd. >> i am a writer, a doctor, a nuclear physicist, a theoretical philosopher. >> reporter: and is played with exquisite nuance by philip s

navy federal too. he's getting a great rate - so now he can drive himself to laser tag. it's a real sport. no, its not. 4 million members. 4 million stories. navy federal credit union. >>> travel funding is always among the first casualties when budgets are cut. after gsa's conference scandal earlier this year, d.o.d. said it would review conference or other event costing more than $100 to attend. moving one general plus staff can cost that much dealing a potential blow to trade shows that justify their existence by putting executives and defense leaders together. exhibitors have been willing to pay the costs of these shows to make their case, persistence policies or more funding to a specific official while gathering intel and exchanging ideas. such shows are a remarkably economic way to get a lot done in a short period of time. in an era of fiscal austerity, the need to communicate and exchange ideas is going up, not down. service leaders have an obligation to remain engaged but must better plan their leadership gatherings and trade events to maximize the value of each. the days of military tour tourism are all over. with every commander traveling around the worl

navy federal too. he's getting a great rate - so now he can drive himself to laser tag. it's a real sport. no, its not. 4 million members. 4 million stories. navy federal credit unionhe first of the presidential debates are upon us. they are always substandpointive and informative, but they usually bring a surprise, and even a laugh or two. >> you have one minute, sir. >> schieffer: in 1992, ross pero made it three candidates instead of the usual two, and he really livened things up. >> we've got to clean this mess up, leave this country in good shape, and pass on the american dream to them. we've got to collect the taxes to do it. if there's a fairer way, i'm all ears. >> schieffer: when i moderated the 2008 debate-- the rules tonight are simple-- a third party also figured in the proceedings, a man who had become known as joe the plumber. >> a worked hard, i'm a plumber. >> he had become a symbol of the frustration of many blue collar workers to the point when candidates sat down to debate-- >> joe the plumber-- >> schieffer: you got the idea joe was running for something, too. >> the conversation i had with joe the plumber. >> like joe the plumber. >> i'm happy

navy federal too. he's getting a great rate - so now he can drive himself to laser tag. it's a real sport. no, its not. 4 million members. 4 million stories. navy federal credit unionchieffer: welcome back now to "face the nation" page two. richard haass of the council on foreign relations is in new york. martin indyk of brookings, and tom friedman of the "new york times" are with us here in the studio. richard haass, i'm going to go to you about what martin indyk was talking about, this problem between israel and the united states over iran and what do we do about it? the prime minister is saying the united states ought to publicly draw a red line and tell iran you cannot go beyond this point in your nuclear weapons development. where do you see-- what do you see happening on this front? >> well, that's an approach i think that probably can't work, simply because the iranians may be doing things already that we don't know about. and i think it's legitimate to say, even if they don't cross the nuclear weapons threshold, if they get 90% of the way there, that's not a very comforting outcome. so let me suggest a different approach, bob. instead of red linees, let me

navy federal too. he's getting a great rate - so now he can drive himself to laser tag. it's a real sport. no, its not. 4 million members. 4 million stories. navy federal credit union. that's all we time for today, the panel is still talking and talked right through the commercial and still talking over here. we will be back in washington next week, tonight watch 60 minutes, both president obama and mitt romney in separate interviews. thanks for watching. we will be here next week for face the nation. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. captioning sponsored by cbs . >> this broadcast was produced by cbs news. which is solely responsible for today's guests and topics. it originated in new york. . >> for the first time president obama and governor romney head to head on the key issues facing america. the first presidential debate. wednesday october 3rd on cbs.