we're delighted to have you back get nga. before we let you go, you will recall from your service here that at our annual meetings replay tribute to colleagues to leave office -- he paid tribute to colleagues as to leave office. some anticipation that you may have gone to a federal role but we did not. i won at 91 behalf of nga not only as your service as governor of arizona but as our chair two years ago. janet was the first woman to chair nga, and she pointed out that it was a milestone of 98 years to achieve. we're delighted that she had that responsibility. you may recall that her initiative as chair was innovate america, supporting science technology, mathematics, and state initiatives to support economic development. before she got into office, she had a distinguished career in the legal field, working as a judge, and serving as a partner in the phoenix law on free president clinton appointed her united states attorney for arizona. then they elected her as the attorney general, the first woman to hold that position. in

this is one place where nga can be so useful. it is probably one of the most important questions we face. we all have a fundamental responsibility to get our economy going again. the way we are addressing it in delaware is trying to understand what is standing in a way of these businesses now. one thing is their inability to access credit in an affordable way. we came up with the program at our strategic fund to allow $50 million of borrowing within the state. it is buying down to 0% the interest rate that companies -- these are good companies at a been around for a least three years and have good standing at the banks. the interest-rate -- up to $12,500 a year of interest. a number of businesses in delaware will be able to keep two or three employees or hire an additional one because of this program. these days, with this economy, if we have a company that is going from 23 to 27 employees are from 7 to 11, that is a big deal. we are spending as much time helping those kinds of companies as we are looking at the biggest po

this is one place where nga can be so useful. it is probably one of the most important questions we face. we all have a fundamental responsibility to get our economy going again. the way we are addressing it in delaware is trying to understand what is standing in a way of these businesses now. one thing is their inability to access credit in an affordable way. we came up with the program at our strategic fund to allow $50 million of borrowing within the state. it is buying down to 0% the interest rate that companies -- these are good companies at a been around for a least three years and have good standing at the banks. the interest-rate -- up to $12,500 a year of interest. a number of businesses in delaware will be able to keep two or three employees or hire an additional one because of this program. these days, with this economy, if we have a company that is going from 23 to 27 employees are from 7 to 11, that is a big deal. we are spending as much time helping those kinds of companies as we are looking at the biggest opportuni

that's helpful and it's useful. >> governor barbour plans to post the nga conference back in 2006, that those plans were postponed by the cleanup in the wake of hurricane katrina which devastated the mississippi coast in 2005. now he hopes is his conference will help to showcase just how far his state has come heard as a comeback tour live shot, look at this parking lot i'm standing in right now. this property here, during the storm surge of hurricane katrina, was under 20 feet of water. look at it now. you have this printed conference center behind me which is hosted this governors conference. julie, thank you. >> julie: thank you very much. >> what kind of incentives will you have to get the free by and new-car juju of financing juju up by not a stereo system? made me beat something with more firepower. >> we did hand counts less to something fun. how about ak-47s. there are blast spin that's not sean hannity. i look like him. the story of the dealership that wants to put you and your new machine gun on the road. announcer: we can all be more energy efficient. use energy saving light

. >> paul: i'm paul ngas. >> susie: and m susie gharib. is is "nightly business report" for thursday, july 1 "nightly business rert" is made ssible by: this program was madpossible by ctributions to your pbs station from viers like you. thank you. 7/ >> susie: good evening, everyone. hank plson was back in the spotlight onapitol hill today, but it wast the kind of homecoming he expected. testifying bore a house committee, the formetreasury secrary was grilled on his role ibank of america's controrsial purchase of merrill lynch. facing harsh accations from lawmakers, pauon defended his decisions anactions in the deal. in the pt month, fed chairman ben bernanke and bk of america ceken lewis also faced tough questiing from this committee. but as dana bateeports lawmakers e still looking for answers. >> reporter: former easury secretary henry pauln may be out of t office, but he's still unr the gun. lawmakers slmed the treasury's handling of the nk of america deal-- saying paulsobullied ecutives into completing the purchase of merrillynch. but

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ed rendell took this as his charge when he became chairman of the nga.he has done a terrific job of working through this. i think you will start seeing a lot of this money starts flowing now for our infrastructure in all our states. the show already projects we talked about will start to flow -- that it shovelled ready projects. despite all the assistance we have had from the federal government, we are projecting shortfalls collectively in the next several years of more than $200 billion that will be facing, even with the assistance we receive. there has to be a correction that will go on among each state. we will have to find the adjustments that need to be made, looking at our past policies and benefit packages, and looking at how we operate our states to be able to live within our means. this is where the rubber hits the road. governors make those decisions, and make them for the best interest, not just for today but for future generations. i think you'll see a lot of changes and adjustments being made. with changes come opportunities. i do not think

moment to recognize the corporate fellows that are planned such an important role in the activities of nga this program was founded in 1988. they can share the unique experience is an expertise through our research and development arm. corporate fellows demonstrate a commitment to improving cooperation in understanding state government and industry and help us develop a bipartisan resolution is to the problems of our nation. many of the top companies in our nation have corporate fellows. blue cross blue shield, ibm, johnson & johnson, and others are a part of this. they have been a member for 20 years. on behalf of all the governors of america, i would like to thank all of these companies and our corporate fellows for their contributions to our organization. [applause] now they bittersweet moment when we say farewell to a colleague who is moving on after his service to this association but to his state. a lot to as one governor to return to the podium. he is serving as governor of the commonwealth of of virginia. he is turning over the keys to his successor next year. really appreciate him

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. >> more than half of the nation's governors are skipping this nga conference. many of them wanting to deal with severe budget crisis back in their home states. others citing scheduling problems, most notably south carolina governor mark sanford, who is taking his family on a trip to make amends for his highly publicized extramarital affair. in an op-ed in the edition of the state newspaper, sanford writes, "i've been humble and broken as never before in my life. and as a consequence, have given up areas of control in a way that i never have before. and it is my belief that this will make me a better father, husband, friend and advocate." sanford is term limited and has 18 months remaining in office and goes on to suggest that the whole incident has changed him and he will approach the south carolina state legislature with a more humble and contrite heart during his remaining months in office. shannon, back to you. >> shannon: all right, jonathan. thanks. well, from biloxi to washington, healthcare reform continues to dominate the agenda. president obama could f

governors of mostly sunny and maryland will join us from the nga conference. "washington journal" begins now. .. . host: we want to ask you whether or not you think the president is taking on too much. for democrats, 202-737-0002. for republicans, 202-737-0001. for independents, 202-628-0205. let's look at some of the other headlines this morning. dominating many of the newspapers, including "the houston chronicle, the story is a local story, the quest for them making houston the center of the universe. we will talk with buzz aldrin about his experiences in the next hour. inside of "the washington post" the have penned "what is next"? "barely six months into his presidency, barack obama seems to be driving south into the political speed trap known as carter country, where every initiative meets with failure and scorn from political allies and foes alike. according to cbs news, is once unassailable approval rating stands at 57%. half of americans think that the recession will last an additional two years or more. 52% think that the president is trying to accomp

president has yet to to obtain the presidential directive on incident management which is below age as ngaand to reflect this change in dhs has built a duplicative incident management organization outside of fema. and congress continuously tries to defund the and i will do get into that later so as i recall the entire reason fema has to be within dhs when so that if we could use fema to manage the response dhs and the government could use fema to manage the response to a terrorist attack. and yet for the last three years dhs has built a parallel incident command structure that bypasses fema. again, it makes no sense. as a result, it is frankly not clear to me or to some of the witnesses of our witnesses who will be in charge, those who will be in charge and to coordinate the federal response if the secretary decides to appoint a principal federal officers known as a plo during the disaster. who would be in charge? fema or this outside the plo? this confusion is a recipe for failure and also another thing madam chair the department needs to follow the law and you even have written letters t

i carbon copy sig top nga owen received a joint letter general barofsky and professor one expressing their commitment to transparency. they noted a coordinated effort between compend and sigtarp to review whether those repurchasing procedures provide sayer-- fair value. earlier this month i was glad to see comp focus son tarbert payments including the repurchase of stock warrants. similar to the analysis done by professor lion in the 11 banks that purchased their once treasury received only 66% of what they could receive for taxpayers. comp nets that these small banks represent a fraction of 1% of all issues but it this trend continues taxpayers could miss out on additional $2.7 billion for the returns. on the same day the report was released we received good news on "wall street journal" writ pure did that jpmorgan chase had repurchased warrants. there were frustrated with the treasury department for demanding too high a price. i'm glad treasury department is holding its line especially cancel largest of the t.a.r.p. recipients into the goldman sachs announced it will pay $1.1 billi

the fusioning and that is what we have worked to do to break down all the walls around cia, dia, nsa, nga, special, special ops, conventional, coalition, iraqi and so fort and we have worked hard to do that, as well as proliferation of unmanned aerial vehicles and other platforms that have made such a difference. he wad to overhaul detainee operations. we have 26,000 or so detainees at the height of this, and those were breeding grounds for the terrorist class of 2007, until we started to do counterinsurgency operations inside the wire and outside, and we identified the irreconcilables, the hard core and separated them from the rest of the population so they couldn't be training terrorists to be released. you have to get at the roots of discontent, the problems that might lead somebody to be willing to sign on with an extremist group to begin with. so you have to get to education, jobs, services, religious, and we learned loot of lessons in that regard. all of the this -- then you even take a host of other areas with other countries, source countries, syria borders, and then the whole are

president has yet to to obtain the presidential directive on incident management which is below age as nga and to reflect this change in dhs has built a duplicative incident management organization outside of fema. and congress continuously tries to defund the and i will do get into that later so as i recall the entire reason fema has to be within dhs when so that if we could use fema to manage the response dhs and the government could use fema to manage the response to a terrorist attack. and yet for the last three years dhs has built a parallel incident command structure that bypasses fema. again, it makes no sense. as a result, it is frankly not clear to me or to some of the witnesses of our witnesses who will be in charge, those who will be in charge and to coordinate the federal response if the secretary decides to appoint a principal federal officers known as a plo during the disaster. who would be in charge? fema or this outside the plo? this confusion is a recipe for failure and also another thing madam chair the department needs to follow the law and you even have written letters