. >> the pension benefit guarantee corporation ensures private pension plans. the head of the agency spoke at the national press corp. last week about how americans should plan for retirement. this is about 40 minutes. >> good morning. i'm jamie horowitz and i serve on the news maker committee here at the national press club. on behalf of the committee and the offices of the national press club, i want to thank all of you for coming out today. i want to thank the reporters who are joining us on the phone as well as the audience that's joining us live this morning on c-span. our speaker this morning serves as the president of the pension guarantee corporation. he'll speak for ten to 15 minutes and after that we'll take questions from reporters in the room and on the phone. the press club invited him here today because we live at a time of retirement insecurity. for many the golden years aren't so golden. 10,000 people will retire every day for nearly the next two decades. but what kind of income will they have in their retirement years? many baby boomers are wit

on the issue of pension, on the issue of pension, he points to the increase in the basic state pension. i do say to him, only this prime minister could try to calm britain pensioners by changing the credit for high inflation. and everybody will have noticed, everyone will have noticed he didn't deny that britain's pensioners are seeing a tax increase year on year. and not just pensioners just tried to con convert its families with children. will he confirm according to the institute of fiscal studies as a result of all his tax changes from this april, families with children will be over 500 pounds a year worse off? >> i notice he is moved off the top rate of tax but he doesn't want to talk about it. in fact, i've got to ask them. he's got to withdraw his amendment because it is successful he will give us a 40 t. tax rate. the other reason, the other reason he does want to talk about the top rate of tax, the other reason is because he can't convince labour's candidate for mayor of london to pay his taxes. [shouting] when it comes to pensioners, what we have done is increase the basic st

on the pensions, on the pensions, he points to the increase in the basic state pension. i do say to him that only this prime minister can try to calm the british pensioners by taking the credit for high inflation. everybody will have noticed, everybody will have noticed he did not deny that the british pensioners are seeing a tax increase you are on the air, and not just pensioners he is trying to calm. it is families with children. will he confirm, according to the institute of fiscal funding, that as a result of all the changes from this april, families with children will be over fought under pounds per year wars -- worse off? >> the tax, he does not want to talk about it. he has to withdraw his amendment, because if he is successful, is he will give us a 40 tax rate. the other reason he does not want to talk about it is heaped cannot convince the candidate for mayor of london to pay his taxes. when it comes to pensioners, what we have done is increase the basic pension. we have kept all of the pension benefits, and the freeze in age- related expenses means it will not

on the issue of pension, on the issue of pension, he points to the increase in the basic state pension. i do say to him, only this prime minister could try to calm britain pensioners by changing the credit for high inflation. and everybody will have noticed, everyone will have noticed he didn't deny that britain's pensioners are seeing a tax increase year on year. and not just pensioners just tried to con convert its families with children. will he confirm according to the institute of fiscal studies as a result of all his tax changes from this april, families with children will be over 500 pounds a year worse off? >> i notice he is moved off the top rate of tax but he doesn't want to talk about it. in fact, i've got to ask them. he's got to withdraw his amendment because it is successful he will give us a 40 t. tax rate. the other reason, the other reason he does want to talk about the top rate of tax, the other reason is because he can't convince labour's candidate for mayor of london to pay his taxes. [shouting] when it comes to pensioners, what we have done is increase the basic st

it can restructure, it can be competitive and still keep its pensions and pay a pension in the futurerican is not alone. there are plenty of other examples. the grocery chain a and p just came out of bankruptcy and kept its pension plans. so did visteon, the former auto parts business of ford. in fact, last year pbgc worked with 19 different companies that emerged from bankruptcy with their plans, preserving benefits for more than 74,000 people. that's what we're doing. we think that's important. but the fact is that government doesn't require pensions. government can't insure retirement security. everyone has to do their part. as individuals, each of us is going to have to save more. if retirements last longer, if you have an active, healthy life, you've got to save more. most of us cannot just rely on social security and a traditional pension. we've got to save. a good target if you don't have a traditional pension is to set aside 10% of your income each year. that's easier to say than to do. it's perfectly natural when retirement seems years away or when times are tough to put it o

lot of the pension obligations. do you fct factor that in when you look at -- >> question here is when we think about was the right premiums ought to be for pbgc, should we take longevity, the fact people are living longer into account? and the answer is, of course we should. the -- our role of the role of pbgc which is how the law created it is that it is intended to be a safety net without using taxpayer dollars. that means the premiums we charge have to cover the benefits we pay. historically are set by law and frankly have lagged what they need to be, and so from time to time the congress of the united states has recognized this and acted and raised those premiums. we've gone to the congress and said rather than waiting until you do pension legislation and rather than doing it in a way that everybody pays the same, why don't we do it on a more business-like base and let us figure out which rates apply to which people, because the way our system works right now is that there's a fundamental unfairness in it. thin

the pension benefit guaranty corp. insures private pension plans. the head of the agency spoke today at the national press club in washington about how americans should plan for retirement. this is 40 minutes. >> good morning. i served on the newsmaker committee here at the national press club. on behalf of the committee and the officers of the national press club, i want to thank all of you for coming out today. i also want to thank the reporters who are joining us on the phone as well as the audience joining us live this morning on c-span. our speaker this morning, josh gotbaum, will speak for tenor 15 minutes, and after that we will take questions. the press club invited him today because we live in airtime of retirement insecurity. for many, the golden years are not so golden. 10,000 people will retire every day for nearly the next two decades, but what kind of then, will they have in their retirement years? many baby boomers are without traditional pension plans. an economic downturn and a drop in housing prices has wiped out assets. those luck

over his pension.a rebel group in mali says its ending its military operations after capturing all the lands it claims. the number of people fleeing to turkey sees a huge rise in just 24 hours after violence erupts again. welcome to "bbc world news." i'm geeta guru-murthy. also in this program -- a special report from restricted areas in burma, why despite recent democratic developments, the captured people say they still face persecution. and do it yourself teaching, why competitive parents in new york have decided to make their own schools for their children to go to. >> protesters have clashed with riot police in athens hours after a pensioner shot himself dead outside the greek parliament. in a suicide note, the man accused of government of reducing his pension to nothing. his death has shocked the country and prompted demonstrators back on to the streets. >> yet again, passions burned on the streets of athens. again, protesters unleashed their anger at the government, throwing molotov cocktails an

. >> a stanford university thank that pension are out of control. karina rusk explains how one city is grappling with the issue. >> they are sounding an alarm. they released a new study on the pension problem. >> i think it's the biggest financial challenge in california. nothing is close to this. >> reporter: they evaluated the top 24 pension systems across california which includes bay area county and city funds. it concludes spending on public employee pensions has grown more than 11% a year since 1999 making retirement benefits the fastest growing costs for local governments. the study finds the plan has $135 billion in unfunded liability. >> instead of earning the money and awarding it, you award it and then you earn it in the public sector side. what happens if you don't earn it? you the taxpayers and you got to pay. >> they say local governments are having to cut essential services such as police, fire and libraries just to keep up with growing pension obligations. it highlights employee pensions which range from a low in stanislaus county of

it can restructure -- it can still keep its pensions and pay pensions in the future. american is not alone. there are plenty of other examples. the grocery chain a&p just came out of bankruptcy and kept its pension benefit. so did a former are parts -- auto parts business of four. -- ford. last year ,pbgc worked with 19 companies that preserve benefits for more than 74,000 people. that is what we are doing. we think that is important. but the fact is that government does not require pensions. government cannot in short -- insure retirement security. everyone has to do their part. as individuals, each of us is going to have to save more. if retirement lasts longer, if you have an active, healthy life, you have got to save more. most of us cannot just rely on social security and a traditional pension. we've got to say. -- save. a good target, if you don't have a traditional pension, is to set aside 10% of income each year. that is easier to say than to do. it is perfectly natural when retirement seems years away, or when times are tough, to put it off and say i will do

i checked to see if there were any pensions at the time and, unfortunately, pensions were not issued to postal carriers killed in the line of duty at that point. we see his widow, anna, listed as his widow. magdalena fredrickson had a pension for the remainder of her life. she worked as a tailoress. samuel augee lewis's identity was a mystery. it was said that he was from baltimore. we had several problems with his line. first, it was said that he was from baltimore. his middle name augee was spelled incorrectly. and we also had the issue with the common name. i was able to find through a wonderful website called paroots.com that he actually was from westchester county, pennsylvania. and volunteerism is the backbone of genealogy. several volunteers posted several things that enabled me to find information on this wonderful family. i learned that his brother, caleb, was working for the railroad as an executive and his brother was criticized for hiring practices in 1860. that criticism may have led him to not choose a nepotistic position in hiring his brother. and may be the reason tha

we allowed seniors to split their pension. their pension. we established the working income tax benefit for low- income working people. we removed more than a million low-income canadians from the federal income tax rolls altogether. we established the registered disability savings plan and the tax-free savings accountthe most important personal savings vehicle since the rrsp. altogether, we have saved the average family of four more than $3,100 per year in lower taxes. taxes. at the same time, we reduced taxes on the businesses that create jobs for canadians. canada now has the lowest overall tax rate on new business investment among major advanced economies. advanced economies. [inaudible] [inaudible] [unintelligible crowd sounds] [unintelligible crowd sounds] this is a significant advantage for canada in the global economy. it is helping to create and preserve jobs in communities across the country, now and for the long term. because we made responsible choices, when the global economic recession hit we were able to respond decisively. we

>> that is a separate part from the pension. we have to balance -- we have to have a pension system that pays for itself. we will work on the plan and presented. i predict may be to a half weeks at the most before we have something in front of the board of supervisors to get the ball rolling. salaries are always being reviewed. we have to have the careful balance between excessive salaries and salaries that will attract the best talent, as well as salaries that provide a living wage for city workers. it is an expensive city. i get paid a lot more than others. i want to make sure that those who work for me are satisfied that they can take care of their personal business with a decent salary and pension as they put the years in. >> another reminder that you are listening to the commonwealth of california radio program. we're talking with ed lee, mayor of san francisco. you mentioned the america's cup is coming. it is coming to san francisco in 2013. it is expected to bring over $1 billion of economic benefit to the city. in exchan

. >>> the problems with the illinois state pension fund a story we've followed closely at wgn with a series of ventive reports and more now on the governor's plan to make things right. >> i did not create the problem but i'm here to solve it. that is my job.ññ i was put on earth to get it done. >> calling it an epic challenge requiring epic reform the governor unveiled a bold 30-year plan that he says will solve the state's pension problem, in order for the pension systems to be completely funded by 2042 here is what he says needs to happen: public employee contributions would increase by 3% cost of living adjustments delayed to age 67 or five years after retirement and the able for retirement would go up to 67 and quinn says that if the state does not act now money may not be there for retirees down the road or the state could lose its standard and pores standard & poor's ratings. >> we are risk not just one downgrade but perhaps more than one downgrade a double downgrade they call. >> other parts of the plan? the state would be required by law to contribute the correct amount requi

>> pension reform. >> healthcare. >> pension reform. i mean pension has to be reformed, it's not sustainable. and i think that's going to be the key for cities. the ability to change their pension reforms so it can be sustainable, it's going to be fair to the city employees and fair to the taxpayers. it's very very important. >> rose: is it essentially changing the relationship to the contract between new employees and the future. >> it's more than that. it's really taken a comprehensive approach to a new system that's sustainable. right now in jacksonville you get 8.4% return guaranteed no matter what. and right now we're about a billion dollars, almost 1.5 billion dollars unfunded. that has to be fixed. >> you can fix it with traditional ways. in baltimore i had to do pension reform for new employees and existing employees which was extremely unpopular. but we had to tell the truth, you know. i believe that our firefighters and police officers they deserve a respectable retirement but they deserve the truth as well. >> rose: if i'm a

i'm in favor of cutting lavish pensions. just don't think you should turn it into a vicious battle that's going to make the public turn against the crusaders for cost cutting. >> the truth that no one wants to talk about on the other side is this. the unions are quite willing to accept reduced pensions, reduced healthcare benefits as long as you left the deuce alone. why? because that's a source of political power. why shouldn't workers have the choice of saying i'll pay an extra thousand dollars a year in deuce, if you want to play politics, union leaders, or i want to keep the money. why not give them a choice? >> and you know the issue o here, stuart, the taxpayer is always the afterthought. they aren't really up front and center what the hits are to the taxpayer for the exploding lofts. you see it in stockton, california, in detroit, in rhode island with even the capital state drowning in red ink. where does it stop? in wisconsin the governor did exempt cops and firefighters as he gave that as sort of a way to get the un

three trillion government pension investment fund the world's biggest public pension said yields on japanese government bonds are unlikely to surge for a while as there is plenty of demand from cash rich domestic banks the g.p.i. f. invests reserves of national and corporate pension plans if allocates about two thirds of its assets to japanese government bonds where the yield on benchmark ten year bonds is languishing below one percent geriatrics are risk averse because all the relative have done for me to think of blowfish burgers but don't know they're the ones they're the famous mrs watson alvi you know women live a lot longer than men they have a lot of this cash that the two thirds of it sitting out one percent less than one percent in japanese government bonds where they're basically forced to finance their government bonds now their savings is running a very dangerously low it's less than two percent it's lower than american savings rates and x. so they're going to have to go outside of japan soon and all they have is fukushima blowfish stuff like that that they're saying buy or pot.

but we have important reforms like pension stabilization. this is important because we have one of the biggest of all time for any state investments in capital and for infrastructure ... our state of illinois is investing $43 billion in roads and highways tollways railroads water systems schools etc. so it's important said that when we issue bonds there is confidence and decent ratings for those we have to understand that addressing the pension issue and stabilizing it is important for the economy and the budget and future investments. we don't want to squeeze out the investments we make in education for our young people because of a massive retirement pension system ... we will be investing $5.2 billion this year in the illinois pension system that is triple what it was in 2008 only two years ago. clearly this demands action, bold action ... we can tell you what the governor will be proposing: he will ask state employees to pay more into their pensions and expect accept smaller cost-of- living benefits and it raises coming up next we have t

also ahead the debt burden as a greek pensioner shoots himself in front of parliament in athens amid a song ring suicide rate and growing financial desperation across the e.u. live comment on but coming up. russia warns against arming the syrian rebels peace efforts underway saying they can topple president assad and it will only lead to chronic. hello and good evening from moscow it's eleven pm wednesday evening here now you're watching r t with me kevin owen and first the first u.s. marines have arrived in australia as america boasts its military presence in the asia pacific region more than two thousand personnel are said to be deployed there over the next few years and valves to america's military footprint in such countries as the philippines and singapore all in china's backyard it is more important brings you up to date than from new york. total of twenty five hundred american troops are expected to arrive. by twenty sixteen that this part of a bilateral defense agreement the two countries and now it's. part of that agreement also includes an increased presence of u.s. warship

fund and a new york pension fund where b. and y. mellon allegedly overcharged on so many millions of dollars and concealed it fluently but there are. not even two trillion of the relative risk on their books so there's got to be some bigger fish out there well the next step is states three and now if you look at the if a graphics there that the buildings on the right those are made up of one hundred dollar bills so that's just to put into context how big what what sort of skyscraper rates you see behind me here what sort of skyscraper of debt of one hundred dollar bills they're doing that is exposed hammering you here by the way stacey building a scaffold here with thirteen steps leading up to the news justice yes max well bank of new york mellon or state street another piker another small guy if they don't have enough money for it christine legarde in our feeling generous with all their ill gotten gains there's always a wells fargo has a derivatives exposure of three point three three two trillion it's another too big to fai

old man shoots himself in front of the greek parliament plenty austerity cuts with decimating his pension. plus defense contractors lined up for business as india makes sense to modernize the military hit by corruption scandals and crumbling weaponry. well these are much more twenty four seven this is r.t. it's judgment day for russian businessmen to boot found guilty in american courts of conspiring to sell arms to terrorists he faces life behind bars but the sentence g. later on thursday of boots defense maintains his innocence and will appeal but also the case has been swayed by the u.s. media as artie's in situ reports from new york. hears by the u.s. to hunt down one russian man tens of millions of dollars of taxpayer cash poor into a sting operation snatched up from a third country alleged arms dealer victor boot was handcuffed to the u.s. and police in solitary confinement for months before trial found him guilty on all four charges one conspiring to kill united states nationals two conspiring to kill united states officers and employees three conspiring to use and acquire anti-air

old man shoots himself in front of the greek parliament i mean austerity cuts for decimating his pension. plans defense contractors lined up for business as india makes plans to organize and retrieve it by corruption scandals are crumbling away. international news and comments twenty four hours a day since r.t. it's judgment day for a russian businessman to boot found guilty on american courts of conspiring to sell arms to terrorists he faces life behind bars for the sentence you went through on thursday abuse defense maintains his innocence and will appeal they also claim the case has been swayed by the u.s. media and saudis and it's a situation reports now from new york. here is spent by the u.s. to hunt down one russian man tens of millions of dollars of taxpayer cash poor into a sting operation snatched up from a third country alleged arms dealer viktor bood was handcuffed flown to the u.s. and placed in solitary confinement for months before a trial found him guilty on all four charges one conspiring to kill united states nationals two conspiring to kill united states officers and e

bad for all our citizens so using what you accumulate of their pensions how we can simulate employers going to develop a voluntary his pension immolation and how we can agree that conditions for us the health civil and she gets and these are all the difficult questions that we have together after live public and professional discussion given and when actually it is filthy research we disorder has to start in creole sees themselves those on whom we depend for our lives and our future i mean doctors and teachers. they're poor then the entire society we used to listen to. all the candidates spache high professionalism mystical and dedication from people who are limited because of humiliating still income level is miserable on the average people achieve their wages of doctor is fake futures are now close to every true wage an economy this is good but we will still need to go further than us and i have no doubt that to. get it done is that the police we are placing more serious challenge we have to secure other c.n.n. of the same time to create a relationship or improving living conditions

but first greeks are mourning the pensioner who shot himself dead in front of parliament in athens on wednesday seventy seven year old retired pharmacist demetrius crystal was left a suicide note accusing the government's cuts of destroying his livelihood his death triggered clashes hundreds gathered on syntagma square to lay flowers and like candles but violence soon erupted as groups of protesters patrolled by police who responded with tear gas athens has been steadily slashing pensions and salaries while raising taxes to secure e.u. and i.m.f. valid outs on thursday greece also extended the deadline for the last part of a bond which would see private investors shoulder massive losses let's not talk to economic analysts and international lawyer nick scratch scratch because who is in athens thanks for being with us the answer also thirty dr now has its most public marder i mean will the pensioners that triggered a nationwide riot through even overthrow the government. well at this point inside we have about a third of the population in greece living underneath the poverty line and we

made some major reforms on the spending side to pay for it in our pension reform, reformed our pension. we had a $4.5 billion short fall. we cut that 45%. the we -- did a new health care package so that we can go to free market health care. that could compete against obamacare. >> free market health care, letting consumers choose? >> letting consumers choose. >> does president obama know that? has he weighed in on that? >> not yet. >> i hope heap is nicer to you than he is to my friend, paul ryan. who will be a speaker here later on. >> basically we took some -- some taxes off, certain types of -- like aircraft. maintenance parts. repairs. off, off fuel. we took taxes off fuel for fishing industry. and this year we are trying to -- get the forest industry. we have, consolidated conservation and agriculture and frying to gi trying to give them the same tax breaks. >> governor, you were highlighted in a "wall street journal" editorial, a few weeks ago, could you give us a brief overview of your tax reforms? >> absolutely. coming off the national recession, started in 2008, oklahoma like

violence erupts in central africa ins with protesters clashing with riot police officer retired pension to shoot himself in front of the greek parliament and a suicide note the retired from the system rainbow sturdy cuts introduced by the government reducing his pension to nothing. just defense contractors all lined up for business as india expands to popularize a military it's by corruption stuff isn't crumbling weaponry. but next starts he is speaks to a former f.b.i. informant who says the so-called war on terror is actually a war on it's not. whitney's critique one take who was recruited by the f.b.i. to take part in the agency's most controversial tactics he was a confidential informant sent to infiltrate college for indian mosques to root out radicals and to investigate and use them community from within and now six years later he is with civil liberties groups to complain for their rights thanks for having me back in two thousand and six he became five there for a serious planning for its tell me how did that happen while i was successful as an informant from two thousand and thr

in central athens with protesters clashing with riot police after retired pension shoots himself in front of passers by in a suicide note the retired pharmacist named austerity cuts introduced by the greek government producing his pension to nothing. just contractors lined up for business as india makes plans to modernize the tree by corruption scandals and claims its own apart country says it's prepared to spend one hundred million dollars on hardware extensions. but next r.t. speaks to a former f.b.i. informant he says the so-called war on terror is actually it's not. what it means craig montane who was recruited by the f.b.i. to take part in the agency's most controversial tactics he was a confidential informant infiltrates khalid for indian mosques to root out radicals and to investigate them use them community from within and now six years later he is with civil liberties groups to contain for their rights thanks for having me back in two thousand and six he became fatter for a syrian against islam for its tell me how did that happen while i was successful as an informant from two th

the ballot was unlawfully biased taking exception to the phrase pension reform. the court ruled it characterized the existing system as defective. they suggested pension modification, which the city has agreed to. >> san jose cannot have a mayor above the truth and law, unacceptable. right now city employees are going to take him to task. the courts have agreed the mayor cannot use his influence to be unfruitful and to mislead voters. >> the -- untruthful and to mislead voters. >> it is clear it is going to the voters court of appeals and superior court has said that three times. >> measure b would reduce pension benefits for city employees. the mayor says it is they say to keep the city afloat after lay-offs and cuts in services. >>> "star wars" creator george lucas is scrapping plans to build a huge complex on his ranch in marin county. instead his film producing company intends to sell to developers to build low income housing. neighbors complained the complex would lead to increased traffic and noise. the planning commission ok'd the plan over strong communit

. >> in greece, pensioners marched through the streets of athens to protest government budget cuts.hey say the austerity measures ever went to their standard of living. >> this is the latest in a series of demonstrations against austerity measures ordered by the eu and imf in return for financial aid. >> pensioners in athens call for the wealthy elite to pay for the crisis. they have taken to the streets to protest against pension cuts that are part of the greek government's austerity measures. the reductios will same -- save some 4.8 billion euros, but they are reducing many pensioners to the poverty level. >> they have stripped us to the bone. on the other hand, they have increased the cost of living and electricity bills are higher. everything costs more. we have to form a front against these measures. >> the greek parliament passed the final elements of the austerity program, massive cuts to the country's social security system before dissolution. may's elections will give voters the opportunity to decide on the future of the reforms. >> meanwhile, the prime minister of spain sh

you remember that discussion about our pension? have we come along way. it is still mentioned -- still prevalent. a year later our city, board of supervisors, the mayor, elected officials have come together with the help of great city department leaders that are also here today, doing everything we can to make sure that we tackle the pension issues and make sure that our budget is balanced. more importantly, we put people back to work. that is the most important thing all this have joined together in doing. the last 12 months, guess what we have done? we created jobs for an additional 17,300 san franciscans, bringing our unemployment rate down from 9.5 to 7.6%, that is just in one year. thank you for your help on that. [applause] two weeks ago, in our city comptroller's report, we got another nice little nudge of good information. more positive news about our economy. our revenues became $129 million greater than projected in the first six months of the fiscal year. $129 million. [applause] that is wonderful data for san franciscans because guess what? fo

violence erupts in central athens with protesters clashing with riot police after a pensioner shoots himself in front of the greek parliament in a suicide note the retired pharmacist blamed austerity cuts introduced by the government reducing his pension to nothing. to france contractors by now for business as india makes plans to modernize the military hit by corruption scandals and crumbling weaponry. up next artie's speaks to a former f.b.i. informant who says the so-called war on terror is actually a war on islam. with knees create one tape who was recruited by the f.b.i. to take part in the agents and most controversial tactics he was a confidential informant sent to infiltrate colleagues and mosques throughout radicals and to investigate and use them community from within six years later he is with civil liberties groups to complain for their rights thanks for having me back in two thousand and six you became frightened when i was he said for a syrian is true islam tell me how did that happen when i was successful as an informant from two thousand and three to early two thousan

that is how we have to approach pension reform. i will be before you and the general public with the hope that we have only one pilot rejectballot -- ballot measure before you, to have one plan before you this fall that will tell you how we're going to correct the cost overruns of our pension and health costs to our employees and make sure we are on our road that no longer interferes with our general fund to the tune of $125 million, as it is doing this year. again, a lot of time spent on the finances of this city, and i get to do it in the most non- political way. if there is anything i can say that is fun, it is fun to talk to people without having to create new provinces -- promises, and maybe fulfilling once we have had. making the city safe, solvent, and finally, the other principal i shared with the department of the budget -- making the city continue to be successful. that goes back to what brought you to san francisco? what need to invest? it is because of the diversity. it is because we have a very excited counselor for. w

athens after retired tension a feud some self passes by any recourse to the cuts that's making its pension. us defense contractors lined up for business as india expands to modernize of the military it back rubs and scandals take that's one of the path. you're watching r t well live from moscow welcome to the program it's a judgment day for russian businessmen victor boot found guilty by american courts of conspiring to sell arms to terrorists he faces life behind bars for the sentence deep meeting on thursday but boots defense maintains his innocence or appeal they also claim the case has been swayed by the u.s. media and saudis and citric reports now from new york. here is spent by the u.s. to hunt down one russian man tens of millions of dollars of taxpayer cash poor into a sting operation snatched up from a third country alleged arms dealer victor boot was handcuffed whom should the u.s. and police in solitary confinement for months before trial found him guilty on all four charges one conspiring to kill united states nationals two conspiring to kill united states officers and employee

suddenly slashing pensions and salaries by raising taxes to security e.u. and i.m.f. bailout on thursday greece also extended the deadline for the last part of advance one which would see private investors shoulder massive losses economic analyst nick . scrapped us i should say says the policy of cuts should be given a major reason. but this point inside we have about a third of the population in greece living underneath the poverty line we've got about a million people unemployed and probably half a million kids really don't we very well at all all we need is something like these to catalyze opinion and send us into deep reflection i think the more austerity cuts horizontal cuts to pensions public sector wages and tax increases are an absolute nightmare it's like putting it on a rake sic on a very strict diet it's going to backfire when we really need here is more structural reforms some sensible privatizations to clamp down on waste and corruption and actually get the very rich to pay their share as well because at the moment it's the unemployed people it's the pens

he also thinks their pension should be revoked. will keep his $4,000 per month pension even if convicted. most people listening to that will say that's crazy. what do you think? >> i think it's crazy. you commit a felony with a child in your capacity? i'm not agnorfolk about that and i don't think he should get his pension. >> reporter: parents will be notified within 72 hours when when a teacher is removed from a classroom ow. cialis for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle a