as a republican majority that we are just going to focus on the executive branch or president obama us cabinet and not take a look at the private sector. use an example, when i was chairman back in 2005 and 2006, we were very aggressive and oversight of british petroleum. they had had an accident in their pipeline from the north slope and alaska, and we had a number of hearings and ended up passing new legislation giving the federal energy regulatory committee additional authority to inspect and regulate the safety aspects of the pipeline systems, not just in alaska but everywhere in the united states. as a consequence of their negligence -- i am a pre mark -- free-market private sector congressman. i believe in free market capitalism, but having said that, you have to have aggressive oversight over the private sector to make sure that they did not develop too much market power and that they do play by the rules. back in the 1930's, president hoover is alleged to have said the worst thing about capitalism is the capitalists. as servants of the american people, republicans in the majority in th

president obama used his first post midterm election cabinet meeting to talk about lessons from his party's tuesday drumming. >> they want a change here in washington where the two parties are coming together and focusing on the people's business as opposed to sworn political points. >> reporter: he said he's serious about developing a "better working relationship with the republican congressional leadership." but two hours later, across town, at the conservative think tank heritage foundation, senate republican leader mitch mcconnell spoke of a different mandate. >> if our primary legislative goals are to repeal and replace the health spending bill, to end the bailouts, cut spending and shrink the size and scope of government, the only way to do all of those things is to put someone in the white house who won't veto any of these things. >> reporter: the two messages couldn't have been more different. >> if the administration wants cooperation, it will have to begin to move in our direction. >> we need to make sure everybody is pulling together, democrats and republicans, and independents.

majority that we're just going to focus on the executive branch of president obama's cabinet and not take a look at the terror. to use an example, when i was chairman back in 2005 in 2006, we were very aggressive in oversight of british petroleum.

us political affairs president obama says he hopes the u.s. senate will approve the new strategic arms reduction treaty with russia by the end of the year speaking at a cabinet meeting he said it would confirm the u.s. is serious about reducing nuclear arsenals this comes after russia's state duma foreign affairs committee recalled its decision to ratify the deal moscow says the senate made twenty six amendments to the original version signed in april by presidents medvedev and obama among them clauses stipulating the treaty doesn't cover deployment of a u.s. missile defense system or ballistic missiles with conventional warheads but how about a game from the russian federation council says the current reset between the two countries will not be affected the full interview he gave to our spotlight program coming up later but here's a sneak peek the reset is not in danger we managed to create some substance for the reset but we are working hard on the providing military transit and civilian transit to afghanistan through the russian territory we are fighting together against drug trafficking in afghanistan so we are doing a lot and i think it will help democr

us to pressure china to undo what they are doing. frankly, we got no support. so there is no room for a plaza accord. barack obama is back in washington tomorrow morning. he should convene his cabinet and decide to do two things. put on that tax. and there's a long list of things that china does to keep our products out. for example, they require solar panels to be manufactured there if they are purchased there. so somebody who makes solar panels, the two big markets, the united states and china says, well, i'll manufacture in china so i can sell in both markets. every single one of those restrictions, they are well documented. we know what they are. we should put them up in mirror image and they don't go away until china stops, period. no negotiating. the time for negotiation is over. a 35% tax on currency conversion and reciprocity in trade. it's the only way out. >> professor, always a pleasure. thank you, sir. peter morici. thank you. the only question is how long will washington wait to deal with this real elephant in the room. let's ask someone with the pow twoer act. senator tom udall, democrat from new mexico. senator, a pleasure to see you. lots of high praise for washingt

us get a better sense? >> yeah, have great respect for the people of president obama has appointed. the people i've worked with, janet napolitano and the first-class cabinet member. there are a number of other people who are intelligence area, director of the fbi, bob moeller at think is one of the best public servants i've ever worked with. so the people are good. because his administration was so dominated by 9/11, the bush administration has spent tremendous resources, tremendous interest, did a lot of good things and things that may not be so good, but they were concentrated in the area. this president has been distracted, understandably so, by all sorts of other things. when i tried to get our health care bill through on an economy that simply doesn't seem to respond with whatever they've been trying to do to it to all sorts of crises in one area or another. and occasionally, to be honest with you, the eyes come off the ball. but i think what we've got to understand is they can't in this area do matter what else you're doing, you always as president of united states have got to pay attention to this area. because keeping the american people safe is m

obama seeking to retake the political initiative after a bruising election, inviting republican and democratic congressional leaders for talks and challenging his cabinet to make washington work better. quote, i want usto talk substantively about how we can move the american people's agenda forward, the president said of the upcoming meeting with lawmakers. the ap reports that the president said it's not just going to be a photo op. the november 18th meeting will be closely watched, in particular for any signs of elusive progress between mr. obama and his two frequent republican antagonists, incoming house speaker in waiting john boehner and senate minority leader mitch mcconnell. they'll be joined by the top democrats, house speaker nancy pelosi and senate majority leader harry reid. that, again, from the associated press. we're standing by for this discussion to get back under way taking a look at the congressional agenda. [inaudible conversations] [inaudible conversations] >> and, again, the panelists about ready to come back out on stage. we expect to hear from "roll call" executive editor morton kondracke, norman ornstein and others. this panel taking a look at the congressional agenda, part of