i'm al pell in for john phipps. the start of a new year brings two challenges for american agriculture. disputes that are sure to have a significant and long-lasting impact on beef and moultrie producers nation-wide. we'll have more on that in a moment. later i'll sit down with our team of analysts to break down market action in this first week have the new year. let's get started first with the news and tricia sloma. >>> thanks al. taiwan kicks off the new year by resuming a ban on what it calls high-risk beef imports from the u.s. among other items the ban includes imports of cow organs and minutessed beef. in october they seemed to resolve their difference but they decided otherwise. reacting to the news they said this will undermine taiwan's credibility as a responsible trading partner and make it more challenge to go hammer out future agreements. taiwan plans to send a delegation to the u.s. to limit the reaction to this. as roger bernard explains this dispute has covered a number of years and multiple administ

have more pell grants. now, we want to continue to do this. i mentioned during my formal remarks the fact that a lot of banks and financial institutions are still serving as middlemen in the financial aid process, and they take out several billions dollars' worth of profits from that. it turns out that actually it can be administered in such a way where these loans go directly to the students. and if you do that, then you're saving several billion dollars that can then be put back into the system. we want to get that finalized; we want to get that done. that will be an enormous boost. now, one thing i have to say, though. even as we put more money into the student loan program, we are also trying to reach out to university presidents and administrators to figure out how can we reduce the inflation in higher education -- because the fact is, is that the only thing that has gone up faster in cost than health care is -- guess what? higher education. and the problem is, if we're not thinking about ways to curb

time for the news with al pell. >>> thanks, john. good morning, everyone. a new report outlines a significant environmental benefits that can be directly tied to biofuels. released by the global renewable shows bioproduction will reduce greenhouse emissions by more than 123 million tons. in all, world biofuel productions is expected to surpass 100 billion liters in 2009. enough to displace more than a million barrels of crude oil each day. we'll post a link on the report on our home page. >>> here in the united states, the ethanol industry continues to lobby to increase the federal ethanol blend from 10- 15%. supporters say this would not only move the corn ethanol industry forward, but also lay the ground work for cellulosic production. regional reporter michelle rook explains. >> the midwest could one day replace the middle east in one day replace the nation's energy needs. it will not depend on corn alone. it will take a growth in cellulosic production. >> if you look out two decades, 140 billion gallons of gasoline used "in the country"ry. you look at t

so we significantly increased the level of each pell grant, that we could have more pell grants. now, we want to continue to do this. i mentioned during my formal remarks the fact that a lot of banks and financial institutions are still serving as middlemen in the financial aid process, and they take out several billions dollars' worth of profits from that. profits from that. it turns out that it can be administered in such a way where these loans go directly to the students. if you do that, you are saving several billion dollars that can be put back into the system. we want to get that finalized. that will be an enormous boost. one thing i have to say, however, even as we put more money into the student loan program, we are also trying to reach out to university presidents and administrators to figure out how we can reduce the inflation in higher education. the fact is that the only thing that has gone up faster in cost than health care is, guess what. higher education. if we are not thinking about ways to curve the inflation, even if we put more money in, what that money is buy

pell grants were raised very materially. they had been $2,400, and the committee then moved them up and now they are in excess of of $5,000. also took the lead in helping the working men and women through funding for the department of labor and for the national labor relations board and for mine safety, osha and mensha. and on the funding for health as has already been noted took the lead with the concurrence of senator harkin who was then minority ranking member to increase funding for the national institutes of health from $12 billion to $30 billion. and during the decade i chaired the committee, that enormously increased the availability of grants, some years as much as as $3.5 billion were added to the funding of the national institutes of health. and then when the stimulus package came up, i offered the amendment and led the battle to add an additional $10 billion. n.i.h. had slipped back because of across-the-board cuts and failure to have cost of living adjustments, but the $10 billion in the stimulus package has prov

to see if he is eligible for a pell grant. anyone who has not already gotten a four- year degree. for the can help not only with tuition, but books and fees and transportation. host: next up is tacoma on the line for republicans. caller: i think the extensions on unemployment to 99 weeks is way too much. i think it hinders the problem and makes it worse. people are getting complacent. i owned a small lansky business. i'm fine and hard to get the guys who were working for me back. -- by own a small landscape business. they are happy with the way things are. they know in a long time until runs out. they're happy with the way things are. host: washington is one of those states with up to 99 weeks. guest: yes, i respect both mike and pat in thinking that 99 weeks is too long. especially with mike saying he could not get people to return to work for his landscaping business. the fact is more americans than ever went back to seasonal farmworker over the summer. we do guest permits. everyone from college students to adults were picki

to see if he is eligible for a pell grant.e line for republicans. caller: i think the extensions on unemployment to 99 weeks is way too much. i think it hinders the problem and makes it worse. people are getting complacent. i owned a small lansky business. i'm fine and hard to get the guys who were working for me back. -- by own a small landscape business. they are happy with the way things are. they know in a long time until runs out. they're happy with the way things are. host: washington is one of those states with up to 99 weeks. guest: yes, i respect both mike and pat in thinking that 99 weeks is too long. especially with mike saying he could not get people to return to work for his landscaping business. the fact is more americans than ever went back to seasonal farmworker over the summer. we do guest permits. everyone from college students to adults were picking fruit last summer. they could not get another job. to employers like mike if you cannot find people, please list york jobs with our one-stop centers. host: the d

. >> andrew pelling. >> given that 29% of jobs in croydon are in the public sector, i am very worriedabout government plans to move public sector jobs out of the south- east. in response to a question in the house, the chancellor kindly said that there might be "compensatory steps." has the prime minister any positive views on what those compensatory steps might be? >> i know that the immigration department in croydon is in his constituency. obviously, we are looking into how we can reallocate some jobs that are currently in the southeast in a way that will both save money and spread employment across the country. the lyons review suggested that 20,000 jobs be reallocated. that has already happened, and we are considering what more we can do. however, i think he will recognise that the work of the london development agency and the work that is done in london are a means by which we ensure that jobs are created in london. we are always thinking about what we can do to create more jobs in this capital city. >> andrew dismore. >> cancer treatment waits have been effectively eliminated fo

pell greenny from the fire department begone an approach to the car where it was sinking. you actually jump into a kayak, right? >> yeah, when we pulled up, jim and i got out of the car. we see the car sinking. i didn't know, you know. saw the kayak and thought it was the better option at the time. >> james you had to dive into that water, huh? >> that's correct. >> that's correct. i did. >> a little chilly? >> it was. it wasn't something i was thinking about, though. it was the safety of the people inside the vehicle. >> you guys are heading out there. steve, are they already in the middle of this rescue as they arrive or you arrive the same time they do? >> about the same time. i actually was on the other side of the bridge and ran over and i actually jumped on to the harbor master's boat. >> so you get on the boat. david's on a kayak. you got in the worst of the deal. who is first to meet up with the couple? >> i believe that was me. >> who is me? >> steve. >> steve. >> so you -- how are they doing? this is an elderly couple. 79-year-old lady. >> what are they saying at

let's take that money and give families a $10,000 tax credit for four years of college and increase pell grants. and let's tell another one million students that when they graduate they will be required to pay only 10% of their income on student loans and all of their debt will be forgiven after 20 years and forgiven after 10 years if they choose a career in public service. because in the united states of america, no one should go broke because they chose to go to college. and by the way it's time for colleges and universities to get serious about cutting their own costs. because they, too, have a responsibility to help solve this problem. now, the price of college to yousition just one of the burdens facing the middle class. that's why last year i asked vice president biden to chair a task force on middle class families. that's why we're nearly doubling the child care tax credit and making it it easier to save for retirement by giving access to every worker a retirement account and expanding the tax credit for those who start a nest egg. that's why we're working to lift the value of a f

[laughter] please join me in welcoming debbie pell.plause] >> thank you very much for that warm introduction. i am not really that old, i have only work for short times everywhere. i would like to think the network for inviting me for -- inviting me to participate in the program this year. it is such a pleasure to meet many of you. we know that you are the people that keep the trains running. without the excellent services that you provide, our program would merely be legislation. i accepted the opportunity to introduce myself today because i wanted you to see my face, publicly the director of the run away homeless youth program, for the wonderful year -- leadership he has provided for several years. curtis, a standout. [applause] i have to say that because i have been here for about one year, hired as the deputy associate commissioner, curtis was the acting associate commissioner. he has been so supportive of me all year. when i took the time to learn the staff and the programs, understanding the needs, i had to openly tell him thank-

so we significantly increased the level of each pell grant, that we could have more pell grants. now, we want to continue to do this. i mentioned during my formal remarks the fact that a lot of banks and financial institutions are still serving as middlemen in the financial aid process, and they take out several billions dollars' worth of profits from that. it turns out that actually it can be administered in such a way where these loans go directly to the students. and if you do that, then you're saving several billion dollars that can then be put back into the system. we want to get that finalized; we want to get that done. that will be an enormous boost. now, one thing i have to say, though. even as we put more money into the student loan program, we are also trying to reach out to university presidents and administrators to figure out how can we reduce the inflation in higher education -- because the fact is, is that the only thing that has gone up faster in cost than health care is -- guess what. higher education. and the problem is, if we're not thinking about ways to curve

justify nonarbitrary and contrapreeshes decision-making is a leap for me to conclude this is a con pelling state interest. i don't think it seas that and then on their narrowly tayloring, it is not narrow. there is the v-chip and the technology out there. but i think it is a mistake for the court to go through the intermediate standards. i think the more appropriate way to analyze the case is look at pacifica and second nice what the supreme court said that is what the first amendment admits. >> a prior decision of our court stated, indeed ruled, that the supreme court in pacifica had implicitly passed with approval on the vagueness of the regulatory scheme. what do you say about that? the dial information services case. >> and the d.c. circuit has taken that view as well. are >> right. but -- >> i think the answer is that is not correct although i recognize this panel doesn't have the opportunity to revisit that issue. that is part of the reason why i think it is more sensible for this court to examine what are the outers limits of what pacifica allows as a matter of first amendment law.

more pell grants. i mentioned during my formal remarks that a lot of the banks and financial institutions are serving as middlemen in the financial aid process, and they take out several billion dollars' worth of profits from that. it turns out that it can be administered in such a way where the loans go directly to the students. if you do that, you are saving several billion dollars that can then be put back into the system. we want to get finalized, we want to get that done. that would be an enormous boost. one thing i have to say, though -- even as we put more money into the student loan program, we are also trying to reach out to university presidents, administrators, to figure out how can we reduce the inflation in higher education. the fact is that the only thing that has gone up faster in cost than health care is guess what? highridge occasion. the problem -- higher education. the problem is if we're not thinking up ways to curb inflation, even if we put more money in, what the money is buying b

on top of that, we increased the amount and number of pell grants available to the students so that the appearance of debt will not keep them from higher education. then he turned to the fact that republicans and democrats have agreed to reform no-cal left behind. host: -- no child left behind. host: that is moving through congress right now for reproval. what would you like to see fixed about that law? -- reapproval. guest: what we did was, it was set up in such a way where final achievement was more important. people were looking at what the great or at the end, instead of making sure that each child had the attention that they needed. it was really about putting too much pressure on the outcomes, rather than looking at the daily of comes -- outcomes. i have been a principal, as though i know that progress is made every day. the emphasis should not be on winners and losers in the school system. it should be about realizing the potential. at the end of the day, every child is achieving toward that goal set that they will need. there is a difference between all children and each child.

let's take that money and give families a $10,000 tax credit for four years of college and increase pell grants. and let's tell another one million students that when they graduate they will be required to pay only 10% of their income on student loans and all of their debt will be forgiven after 20 years and forgiven after 10 years if they choose a career in public service. because in the united states of america, no one should go broke because they chose to go to college. and by the way it's time for colleges and universities to get serious about cutting their own costs. because they, too, have a responsibility to help solve this problem. now, the price of college to yousition just one of the burdens facing the middle class. that's why last year i asked vice president biden to chair a task force on middle class families. that's why we're nearly doubling the child care tax credit and making it it easier to save for retirement by giving access to every worker a retirement account and expanding the tax credit for those who start a nest egg. that's why we're working to lift the value of a f

following the 2001 recession appears to have been reasonably appropriate, at least in relation to a sinl pell policy rule. which version of the taylor rule? the stand ard one? or the alternative version that em replies inflation forecasts is the more reliable guide. and i have explained my preference for using inflation forecasts rather than actual inflation in the policy rule. monetary policy works with a lag and therefore policy decisions must be forward-looking. and one might still prefer the simplicity of the standard taylor rule that uses current inflation values. however, note from slide four that the proponent of the standard rule with current inflation values would have recommended that the fo mrks c replace the policy rate to a range of 8 to 7% during the first three-quarters of 2008 after the recession peaked and before the intention fiction of the financial crisis in september and october. that's a policy decision that i suspect would not have garnered much support among monetary specialists. in contrast, slide four shows the version of the taylor rule based on forecast inflation.

let's take that money and give families a $10,000 tax credit for four years of college and increase pellause] and let's tell another 1 million students that when they graduate, they will be required to pay only 10% of their income on student loans and all of their debt will be forgiven after 20 years, and forgiven after 10 years if they choose a career in public service. because in america no one should go broke because they chose to go to college. and, by the way, it's time for colleges and universities to get serious about cutting their own costs because they, too, have a responsibility to help solve this problem.Ñi host: let's start with the student loan program. how -- what is the concern from the president about the current state of the program and what does he want to do to change it? guest: right now, we have a student loan program where we pay private banks to offer student loans. so we pay them in the sense that we subdies the profit they make on those loans and we pay them in the sense that we guarantee the loans so if the student defaults the government pays it off. it's been

we're putting in more money and provided more pell krantz and simpler financial aid forms.we have done all that but parents still meet apparent. kids still need to own up to their responsibility. [applause] we still have to set high expectations for our young people. folks cannot simply look to government for all the answers without also looking inside themselves, inside their own homes for some of the answers. progress will only come up we are willing to promote that ethic of hard work, a sense of responsibility in our own lives. i am not talking, by the way, to the african-american community. sometimes, when i say these things, they say i am just talking to black people about working hard. no, no, no,, i'm talking to the american community. somewhere along the way, we as a nation, began to lose touch with some of our core values. you know what i'm talking about. we came -- we became enraptured with false profits who prophesied an easy path to success paved with credit cards and home equity loans and get rich quick schemes. most important thing was to be a celebrity. it di

take that money and give families a 10,000-dollar tax credit for four years of college and increase pellnt. [applause] and let's tell another 1 million students that when they graduate, they will be required to pay only 10% of their income on student loans and all of their debt will be forgiven after 20 years and forgiven after ten years if they choose a career in public service because in the united states of america, no one should go broke because they chose to go to college. [applause] and by the way it is time for colleges and universities to get serious about cutting their own costs because they too have a responsibility to help solve this problem. now, the price of college tuition is just one of the burdens facing the middle class. that is why last year i asked vice president biden to chair a task force on middle-class families. that is why we are nearly doubling the child-care tax credit and making easier to save for retirement by giving access to every worker, a retirement account expanding the tax credit for those who start a nest egg. that is why we are working to lift the valu

we are putting in more money and providing more pell grants and tax credits and simple financial aid forms. we have done all of that. parents still need to parent. kids still need to own up to their responsibilities. [applause] we still have to set high expectations for our young people. people cannot simply look to government for all of the answers without also looking inside themselves, inside their own homes for some of the answers. progress will only come if we are willing to promote that ethic of hard work, responsibility in our own lives. i am not talking just about the african-american community. sometimes when i say these things, people assume i am talking about white people working hard. i am talking to the american community. somewhere along the way, we as a nation began to lose touch with some of our core values. we became enraptured with false profits, who prophesied an easy path to success in. with credit cards and home equity loans and get rich quick schemes. the most important thing was to be a celebrity, it does not matter what you do as long as you get on tv. that is

let's take that money and give families a $10,000 tax credit for four years of college and increase pell grants. and let's tell another one million students that when they graduate they will be required to pay only 10% of their income on student loans and all of their debt will be forgiven after 20 years and forgiven after 10 years if they choose a career in public service. because in the united states of america, no one should go broke because they chose to go to college. and by the way it's time for colleges and universities to get serious about cutting their own costs. because they, too, have a responsibility to help solve this problem. now, the price of college to yousition just one of the burdens facing the middle class. that's why last year i asked vice president biden to chair a task force on middle class families. that's why we're nearly doubling the child care tax credit and making it it easier to save for retirement by giving access to every worker a retirement account and expanding the tax credit for those who start a nest egg. that's why we're working to lift the value of a f

we've provided for more pell grants and tax credits.e have done all of that but parents still need to parent. kids still need to own up to their responsibilities. we still have to set high expectations for our young people. folks can simply look to government for all the answers without also looking inside their celselves. progress will only come if we promote that sense of responsibility and our own lives. sometimes when i say these things, people say that he is just talking to black people about working hard. no, i am talking to the american people because somewhere along the way we as a nation began to lose touch with some of our core values. you know what i am talking about. became enamored of the false profiphets, paying with credit cards, get rich schemes, and the most important thing was to be a celebrity. it does not matter what you do as long as you get on tv. that is everybody. we have forgotten what made the civil-rights movement a success and what made the united states of america a success. in this country, there is a subst

would have to go in order to justify nonarbitrary making is a leap for me to conclude this is a con pelling -- compelling state interest. i don't think it seas that and then on their narrowly tayloring, it is not narrow. technology out there. but i think it is a mistake for intermediate standards. i think the more appropriate way to analyze the case is look at pacifica and second nice what the supreme court said that is what the first amendment admits. >> a prior decision of our court stated, indeed ruled, that the supreme court in pacifica had implicitly passed with approval on the vagueness of the regulatory scheme. what do you say about that? the dial information services case. >> and the d.c. circuit has taken that view as well. >> right. but -- >> i think the answer is that is not correct although i recognize this panel doesn't have the opportunity to revisit that issue. that is part of the reason why i think it is more sensible for this court to examine what are pacifica allows as a matter ofand if what the f.c.c. puts in place -- then it is unconstitutional. >> the case was in 1991,

my two other grand sons and what kind of legacy and what kind of future are we leaving these young pell, the next generation -- the young people, the next generation, talking about a $16 trillion debt in this country. by 2020, we are talking about a $20 trillion. and somebody, when i was back in the district and maybe you have used this analogy, just for people to get their arms around what is $1 trillion, i asked people how long it would take you to count to one trillion, it would take you 19,000 years to count to one trillion. we are talking serious money. i thank the gentleman for bringing up the important points because this is all kind of would he haven because we are talking about jobs and the impact on patients' rights, and we are talking about the impact on the entire nation here of one turning over health care to the government. and secondly, continuing down this road of borrowing and spending money that we don't have and charging it to future generations. i know each member here on the floor tonight has this voting card and right now, it's a credit card. and it's got a huge cr

it was increasing pell grants and making sure that somebody is not prevented from going to college becausethey simply cannot afford it. if they have to borrow money, as millions and millions of people do, they should of find themselves on the other end of that, particularly in an economy where jobs are hard to come by, crushed by the overwhelming payments that have to come in paying that loan back. it has been awhile since i was in college but there is a six month period when you get out of college and start paying that loan back. that is my memory from my college days. a proposal that does not find a reason college graduate desperately try to find a job, crushed by those payments -- >> it seems on the magnitude of a health care bill that completely changes 1/6 of the economy. these are very modest steps. he was talking about dramatic change in how he was talking about little changes. >> you hear the -- you will hear the president talk of health care reform in the state of begin but i don't think somebody struggling with a college cost and capping what they have to pay as part of their inc