liz: to fox business, our very own peter barnes sat down with philadelphia federal reserve president arles plosser this time in a fox business exclusive, and that actually moved the markets today. peter? >> reporter: that's right, david and liz, and that's because president plosser here raised questions about the effectiveness of the latest round of want tative easing -- quantity quantitative easing and the other steps the fed voted to approve two weeks ago here. he argued they wouldn't have that big of an impact on interest rates, driving them lower and, thus, might not have as big an impact on employment and job creation and on economic growth. he also said that he is concerned that all of this additional stimulus could lay the groundwork for problems with unwinding all this at some point and also with inflation down the road. take a listen. ♪ >> well, the risk is higher inflation. that is, if we get to a situation where we have to begin tightening policy -- and someday that will come to pass, some people think it may be sooner rather than later, but whatever concern when it comes t

peter barnes, hopefully, we're going to get something happening. thank you very much.eter barnes live from washington. >>> well, so is this slew of blown calls marking the start of regular season the new normal for the nfl? let's ask is daniel hanson for the american enterprise institute. i first have to go through the numbers, charlie gasparino and i were basically falling off our chairs. 7% salary increase in 2012 to $161,000. they made about $150,000 last year, and this is, by the way, a part-time job. this is by no means an annual salary. retirement contributions, severance, time off, first class travel. why? why, why, why turn this down? explain this to me. >> well, it seems like the refs are pushing because they really want to protect their own interests, and they have this opportunity to bargain with the league now. this deal will be in place for a long time, and, you know, for them it's a good deal. they sort of want to extend the good deal they have and keep up with the standard cost of living increases. cheryl: but do you think that the refs actually have a b

[laughter] connell: peter barnes will be back with the big interview.be back also with "rockets now." ♪ ♪ ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. let's. i am nicole petallides on the floor of the stock exchange. i look like that at starbucks which i am. saba, floor of the stock exchange and covering stocks and green mountain coffee for you today because there is the headline about single serve coffee. green mountain which you know carry one cup coffeemaker is a competitor. starbucks rolling out its single coffees and one shot of the -- espresso. dagen: boston federal reserve bank president eric rosen kranz says the stimulus by the central bank benefits the economy. >> an exclusive interview with fox business starting out. peter: that is right. eric rosen grants joins us now in a speech called avoidin

peter barnes has the exclusive interview. we have much more coming up. let's look at the dow jones industrials losing steam coming down. earlier today we were up 61 points. a few seconds before we came out of the commercial break we were down 45 points at lows of the session falling further down 50 points. we have caterpillar as the biggest drag shaving 25 points off of the dow after it cut 2015 revenue forecast same 2015 is far out but that is one commodity producers or the guys to indicate what they are ordering and cutting back on their orders so we are cutting back on hearings. shares of tesla motors getting slammed after the company lowered its revenue forecast due to slow rollout which is new model x. the most expensive electric vehicle. very fancy. we spoke to elon musk on the floor of his tax locomotor company and got a much different story. something must have happened between then and now house sales were trending. >> we continue to see growth with every quarter seeing more interest. >> they can develop it fast enough or is not as strong as we

peter barnes has an exclusive interview with philadelphia fed president, charles plosser. r, over to you. >> thank you, melissa. we're here with charles plosser of the philadelphia federal reserve bank who just finished a speech that really, i'll say it, ripped into quantitative easing and additional monetary accommodation. president plosser, thanks for joining fox business once again. >> thanks for being here. >> you are concerned about risks that all of this could backfire. how so? >> well, i mean i think every policy action has cost and benefits and i think one of the things that i've been trying to stress is that efforts to be ever more accommodative, to try to do something about very disturbing unemployment rates is, it is going to have costs to bear down the road. it is taking some risks that i think we need to be cognizant of and risks will come later and i think, we have to be very wary of those. >> for example? >> the big example for me on buying assets is the size of our balance sheet and how the size of the balance sheet will affect our ability to unwind from all

peter barnes breaks down the latest. to bring down the most notorious terrorist of all time. why is the pentagon going after him? we are on the gerri: happy labor day. gas prices by the highest ever going into a labor day weekend. increasing 820% per gallon in august. the reasons? hurricane isaac shutdown 94% of oil production plus refinery shutdowns and pipeline disruptions. take a look. seven states have average is above $4. now $4.32. california not far behind. illinois not doing well. and compared to connecticut. on july 1st only hawaii had a price above $4. lois states south carolina, alabama, mississip pi, new mexico, arizona mexico, arizona, wyoming and colorado. pain at the pump is felt by 33 million americans driving 50 miles or more. up from last year. expectation prices should drop as demand drops. the station was the lowest gas price? circle k gas in el paso taxes -- texas. also chicago, illinois has so many problems were $4.79. the highest in the country right now. is not keeping people home but how it can help you save money. stay with us. gerri: am i bereday is

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let's go to peter barnes. peter? >> that's right, ashley, tracy.have the new economic forecast from the fed and once again we have another downgrade which helps to explain why the fed is looking for a lot more stimulus here. let's run through the numbers for you, starting with gdp growth. real gdp in june, fomc, projected 2.2% of 2012. it lowered that to 1.9%. it results more economic growth because of stimulus 2013, 2014 and now 2015 up to 3% or more. unemployment rate, that projection is unchanged from the june forecast, still at 8.1%. but again the fed assumes this stimulus will all kick in and get the unemployment rate down to 7%, about 7% by 2014 and about six 1/2% in 2015. on inflation, sees slightly higher inflation. we have seen higher gas and oil prices recently. it raised its forecast to 1.8% for 2012. it sees that staying at about 1.8% or so out through 2015. we have of course the new magic chart on the appropriate timing of policy firming, on fomc members expectations when they might start to tighten. overwhelmingly of the 19 fomc membe

peter barnes has the latest on the developing story from washington. er. >> hey, tracy, ashley. more on this. let's go over the big numbers. the governor will be posting his tax returns to his website at 3:00 here but the campaign has released the highlights to us here, just in the last 15 minutes or so. the romneys earned, according to the campaign, $13.7 million in 2011. most of it investment income. no surprise there. they paid $1.9 million in taxes for 2011. so the effective tax rate was 14.1%. no surprise here. this was mostly, investment income which is taxed at lower rates than earned income as tracy, our resident accountant will tell you. and the romneys also announcing here that they donated $4 million to charity, 30% of their income. they also, to, because this is such a big election year issue, what the romneys are paying, their tax rate, et cetera, they also are releasing a notarized letter from their accountants, pricewaterhousecoopers, on their tax rates from 1990 to 2009. 20 year period here. and they say, according to this letter that th

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peter barnes in charlotte, north carolina with more. peter. >> ashley, that's right.urn ronald reagan into the party crasher in chief here in charlotte, trying to get in the democrats face as they get ready to begin their convention in just a few hours from now. reviving president reagan's comment against president carter in the 190 election, are you better off than you were four years ago. paul ryan back on the stump today, hitting that message again harder. take a listen. >> president obama makes the jimmy carter years look like good ol' days. [laughter] if we fired jimmy carter then, why would we rehire barack obama now? [cheers and applause] president obama can tell you a lot and he is good at doing that but he can not tell you that you're better off. >> president obama speaking in virginia today did not directly engage the issue. he did ask voters to reelect him because he has not finished his job. take a listen to that. >> we've come too far to turn back now. [applause] we created a lot of jobs but we've got more jobs to create. we create ad lot of home-grown en

the fed decision to come and peter barnes will bring us that decision. e telephone from the treasury and we are waiting for that at any moment. as we await this decision from the fed peter made some great points. the weakening of the dollar. inflation in oil and gold and all these things peter is saying. this is not working. >> i understand what peter is saying. we need to look further than one month behind and one month ahead and you realize it is a global economy. not just the u.s. economy stuck in neutral. we are not sure what is going on. i would say any comparative currency moves -- >> a new bond buying program. q e 3. an open-ended program of $40 billion a month in mortgage backed securities to push market rates lower. the fed also extend the period of exceptionally low rates to mid 2015 from 2014 now and keep them low even if the economy strengthens. it is also continuing current operations twist. the fed statement starts with economic outlook. information received in federal open market committee met in august suggests economic activity has contin

with us is fbn's peter barnes from jackson hole, wyoming. there any surprises what the federal reserve chairman had to say? i know some investors are reading into the speech that they will do something in september. peter? >> clearly he laid out the options and set the table for additional policy easing at some point because, listen, the economy is just not growing fast enough, just not creating enough jobs, and so, the postmortem on this it has been, it was kind of a dovish speech here. he did say that the fed stand, well provide additional policy accommodation as needed to promote stronger economic activity and sustained improvement in labor market conditions. they talked about all the options from quantitative easing to extending what is called forward guidance. they will keep interest rates, short-term rates low, exceptionally low through 2014. now they may extend that. that is on the agenda for the september 12th meeting. between now and then, adam, critically we have the august jobs report next friday. adam: for instance, politicians l

dagen: peter barnes has the details of the deal that brought them back to the gridiron. hey, peter.er: hey guys, can't help myself. dagen: do it. connell: oh no. dagen: oh no. [laughter] connell: all right, go ahead. peter: rich they are calling for you. flag on the play. all right, we have the settlement with the help of federal mediators the league has temporarily lifted the lockout so officials can work the ravens browns game in baltimore tonight. it's an eight-year deal that takes the refs through the 2019 season. some pension reforms that the owners wanted, nice pay increases for the refs, hitting $200,000 a season in 2019. remember, these are mostly part-timers; right? and to give the owners some flexibility in benching refs it deems underperforming. the league will have the option to start hiring its own officials. nfl commissioner roger goodell said the agreement supports long-term reforms that will make officiating better. the teams players fans want and deserve both consistency and quality officiating. one football great says after the blown calls by the replacement offici

peter barnes is sitting down exclusively with boston fed president eric rosencrantz. here is what he had to say about he thinks how it will affect the economy. >> i think it will have a material impact and they're a number of ways it can happen. one is in the housing market, rates are low, but we are starting to see in the markets that prices are starting to go up. if you think that the federal reserve program will last for a certain period of time, there is the same thing when purchasing a large building. interest rates may start rising as the economy improves. that is exactly the kind of behavior we are hoping for. liz: mark olson is a former federal reserve or governor. you heard what he said. a very important interview. he truly feels that qe-3 and they will work. do you think so? >> i think that hank smith nailed it in his previous comment. when you said you have an element of certainty. a monetary policy where there is no certainty of fiscal policy. also, you have taken off the table what monetary policy will be for the next several months. there will be $40 bil

peter barnes live in our washington newsroom. r, she's calls seem to be getting more frequent. >> that's right, shep. because of technology for one thing including more scams and maybe some enforcement issues and exemptions now the ftc says the number of general complaints about telemarketing calls rose to 182,000 earlier this year. more than double the amount in october of 2010. but separately, over the same period, the number of complaints about robo calls with those prerecord messages more than tripled. one consumer advocate joe wright out of consumer action says for every customer that actually takes the time to file the complaint there are dozens who do not. one problem might be that the number of telemarketers that register with the ftc has fallen by nearly half since 2007. for robo calls specifically auto dial technology has made it cheaper to call from that pacific island and easier, especially for scam artists right out of consumer action is calling for more enforcement by the ftc to cry to curb all of this. political and

all right, peter barnes is standing by in washington. peter, what are you looking at right now? >> reporter: the senate may consider as early as this week its usual grab bag of year-end extensions that congress pretty much approves every year on certain tax breaks. they include some big items like patching the alternative minimum tax for millions of middle class families, $130 billion over two years. but thanks to lobbyists and lawmakers from both parties who want to help companies back home, there are plenty of special interest tax breaks they want to extend. take a look here. $78 million for auto race track owners for faster writeoffs on investments. $248 million for movie and tv studios to help keep production in the u.s. when other countries offer deals to poach it. $7 million for tax credits for electric-powered motorcycles to encourage environmental and energy goals. but they did toss out the tax credit for electric golf carts. cheryl: oh, there was a tax -- you know, if i was retired, though, living in florida, i'd take that, right, peter? >> reporter: remember that big s

fox business's peter barnes joining us from d.c. is is not merely keeping tax rates the way they are, right? that is not what is meant by tax extension? >> that's right, david. i'm using jargon here. the tax extend ders refer to a grab bag of the tax breaks the congress extend every year like the r&d tax credit. they include pretty big items patching alternative minimum tax for many middle class families. $132 billion over two years. it is not chump change. banks and lobbyists, there are plenty of special interest breaks in the bill. $78 million for auto racetrack owners for faster writeoffs of their investments. 248 million for movie an tv studios to help keep production in the u.s. whether other countries offer deals to poach it. $7 million for tax credits for electric powered motorcycles to encourage environmental and energy goals. supporters can justify all of these of course. it is very hard to get rid of them, especially when they might help the economy, maybe maintain or create some jobs in an election year. >> the problem wit

david: fox business's peter barnes is live in washington with the numbers. > yeah, and ahead of the debates coming up in october? okay, the romneys released and filed their federal income tax returns for 2011 today. they filed for an extension back in the spring due to the complexity of their returns. 379 pages for the federal filing. the romneys earned $13.7 million in 2011 in mostly investment income as they have previously reported. they paid 1.9 million in taxes. their effective tax rate for 2011 was 14.1%. they also donated $4 million to charity in 2011, amounting to nearly 30% of their income but they only claimed 2.it 5 million of the charitable contributions. because governor romney said in january he paid at least 13% in income taxes over the last decade and had the romneys deducted the full 4 million they would have paid less than that. they also released a notarized letter from their accountants, pricewaterhousecoopers, on their tax rates for 20 years, from 1990 to 2009. over the entire 20 year period their average annual effective federal tax rate

peter barnes.so much last night on this newscast, the congresswoman debbie wasserman shoults accused a newspaper of twisting her comments regarding the g.o.p. and israel is what the paper claims and i quote we know and i heard michael orrin say this that what the republicans are doing is dangerous for israel. now, michael oren is the israeli ambassador to the united states. he denies he ever said that at all. and then the congresswoman ever denied saying that he said it. listen to this. >> unfortunately, that comment was reported by a conservative newspaper, not surprising that they would deliberately misquote me. >> shepard: the problem is there is now an audio recording of exactly what congresswoman wasserman schultz said and here it is. >> we know and i have heard no less than ambassador michael oren say this what the republicans are doing is dangerous for israel. >> shepard: so did she lie to us last night? well, i spoke with the congressman's representative about an hour and 30 minutes ago. he

peter barns is live with us here in charlotte.t of these jobs numbers tomorrow and what have analysts told us? >> economists estimate that the economy created about 125,000 jobs in august and unemployment rate remains at 8.3%. republicans say that is not good enough and they are ready to pounce. >> range around 100,000, that's a level that doesn't even keep pace with population growth. so i think the challenge for the president is that for all the rhetoric that we're going to see tonight, we're going to face reality tomorrow. >> shep, it takes about 200 to 250,000 new jobs a month to start to really grind down that high unemployment rate. shep. >> shep: do we have any idea what the level of concern is at the white house, especially within the campaign in chicago over these numbers? >> well, listen, the white house is always very concerned about these numbers, especially if there is a bad one tomorrow and they will be ready with an answer. take a listen. >> i don't think you can take one number and say that is the direction. we hav

we get to peter barnes for the federal reserve angle on all of this. peter, just two days ago we asked our traders on the floor show what they thought would happen if we got a bad number, like we did today. here it is. >> what is the one thing that if the fed were to see it, they would jump in immediately with qe 3, doreen you first? >> if these unemployment numbers are really bad, they will jump right in. >> mike? >> i agree with doreen. >> if that unemployment rate gets 8.5%, guaranteed. >> it didn't get there, in fact it ticked down but the number of job creation is still pretty weak. best guess inside the beltway what the fed is going to do. >> the fed is going to pull trigger on something. it gives them more ammunition to do something next week. some of the guests on the floor show already talked about some of the options. at a minimum, the fed will likely, from the economists that i am getting notes from today, extend the forward guidance saying -- committing to keeping interest rates exceptionally low from currently through the end of 2014 now e

mitt romney making this the key to his campaign and peter barnes joining us. ne can answer the question properly over the weekend. peter: the democrats are finding their footing on answering that question which is reminiscent of ronald reagan's question of jimmy carter in the 1980 campaign but republicans feel they found a hammer here they can use against democrats particularly during convention week but we are going to hear this all the way up until election day. we heard it from vice-presidential candidate republican paul ryan yesterday and a response from joe biden. take a listen. >> we will hear a lot of words from charlotte this week. but here's the kind of word we are not going to hear. we are not going to hear evidence and facts about how people are better off. the president cannot run on this record. >> you want to know better off? usama bin laden is dead and general motors is alive. >> we can expect to hear this back-and-forth through the convention week. we will hear it again from paul ryan when he speaks in ohio later today. tracy: the ongoing questi

dagen: peter barnes is on the scene in that fine city, in north carolina with more. hey peter. peter: hey dagen and connell. that's right, the big dog in chief is going to get the national spotlight tonight, you know when he does, it can get very interesting. i was in the briefing room at the white house in 2010 when president obama walked in with president clinton and gave a briefing, you recall that one. and then president obama said he had to leave and go to some function with his wife, two hours later, president clinton was done, but anyway, he's expected to stay on time tonight, according to aides, he is still writing his speech. he's not finished with the product. and on this question of whether or not the obama campaign will see a draft of the clinton speech before the speech, the aide tells fox news that senior campaign officials have spoken extensively with the former president about his remarks, reviewed carefully what he intends to say. he said quote we're working very closely with him. the former president has been given a a total running time to hit, but the aide a

cheryl: peter barnes, thank you very much.er on this afternoon peter barnes will be sitting down for an exclusive interview with charles plosser. that will be later on this afternoon. dennis: 7 million jobs. that is what paul ryan told fox business which had sent in an exclusive interview. take a listen. >> we need to get our tax rate down. that triggers significant growth. dennis: capital senior john brown worked with margaret thatcher. why don't we just cut tax rates 80%? >> i think there is evidence to show that tax rates to increase activity. certainly with margaret immediately dropped the top rate and tax from 92% to 40%. to reduce the foreign exchange controls 20 overnight. this had a huge impact on people. she was also into the air -- deregulation. and incubation for smaller companies. in the bidding for the new contracts, she forbid two years british telecom to be in the bidding. a chance for the new high-tech companies to take off. it had a tremendous effect. she was always very clear. sometimes wrong, but never in do

now, peter barnes joins us from boston with much more. peter, a lot of headlines generated from that today. >> that's right. it's about jobs, jobs, jobs for the members of the fomc and particularly the president of the boston fed. he's not a voting member, but will be in january. nonetheless, he deafed the extraordinary action the fed approved last week, $40 billion worth of mortgage bond purchases. a month, and they hope this helps jump the economic activity and create more jobs. i asked, well, how many more jobs, you know? the last two rounds of quantitative easing qoording to ben bernanke created an additional 2 million jobs. take a listen to what he said. >> i'm expecting to get a couple of tenths off the unemployment rate relative to way we otherwise would have got and each year we continue the program. that seems like a small amount, but actually in terms of the number of people, it's a fairly significant number of people, and over a broader period of time, it can have a reasonable impact on the economy. i would highlight that this,

peter barnes is in washington. i think they are comparing them to teachers and firefighters.onnection between teachers and striking refs? >> i will read it right from the afl cios memo to reporters on this yesterday. "union members bring huge value to our communities and our lives every day. scott walker and others should do well to remember that the next time they treat union members, firefighters, should remember that the next time they treat union members, firefighters, teachers and autoworkers differently than union reveries. ". stuart: it comes down to performance review. i do not think that established refs want their calls reviewed either. that is the connection. >> the nfl wants to add about 20 more reveries so a couple refs from games they deemed underperforming. pay for performance. stuart: the refs do not want that kind of performance review which may take them away from full-time referring. i will turn this around, there was me, peter, this is stuart varney talking football. if those stand in refs who made a lousy call the other night, if they were in the union, t

connell: let's go to peter barnes in d.c. with more. peter: new protests against the u.s.ghanistan, pakistan, lebanon and indonesia today over that antiislamic film. the president of libya now says the attack a week ago on the u.s. consulate in benghazi was a planned assault possibly organized by a group with -- with ties to al qaeda as an act of revenge. >> the best information and the best assessment we have today is that in fact this was not a pre-planned pre-meditated attack. that what happened initially was it was a spontaneous reaction -- peter: as you mentioned, oil and gasoline prices remain elevated this part over middle east tensions including new disagreements between the u.s. and israel over responding to iran's new clear program. -- nuclear program. that's fuelled new speculation that the president may tap the strategic petroleum reserve 7 weeks before election day, but one energy executive says oil supplies are adequate. >> there are many political reasons to draw down the strategic petroleum reserve. but there are really no strategic reasons to draw down the

neil: peter barnes? joe has a tough act to follow. even tomorrow? >> i agree. first lady delivered on every note to talking about the family is personal history. the time back to public policy, advocating for health care reform reform, advocating for help on student loans for college students because they both struggled with student loans. i would agree this crowd is still hanging around for as they take it all when. neil: does this day look at what the spending has done for me and my husband? >> in the end, no. the speech was there very impressive but years from now we will remember obama's speech on thursday. but she made the case government helps people. neil: doesn't matter she sees her husband as everyday people? he is the rich guy and doing it for you? >> this is a very carefully crafted -- crafted speech. putting in the code words. you think about the president but nit romney. she knows how to play the camera very well. neil: she has grown in her own right to without a doubt. that will do it for tonight's coverage. now see what william jefferson clinton

tracy back to you. >> peter barnes, thank you very much. dnc tonight with our very own neil cavuto covering it wall-to-wall 8:00 p.m. eastern as only neil does. >>> are today's gains just the beginning of something big or will september prove once again to be weak for stocks? we have a leading fund manager and his insight. that's all next. but first let's look how the dollar is moving right now against the other currencies as we head out to break you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. >> at 23 minutes past the hour i'm juliet huddy with your fox news minute. sir union troops took back a border in jordan that was used as transit point for those leaving country. the rebels, who were

peter barnes has this story. >> i am relieved. good lord. you have to love this. yeah, right? don't want to do that too much. not too many puns here. regular officials will be back at work tonight aired the lockout has been temporarily suspended while the rest can -- while the referees look this over. roger bedell said the bad call on monday night was not a factor. >> i think it was just another factor that kept pushing us that this was the right thing for the game. this is the right thing to do. get the officials back on the field. get the agreement concluded. that was really what everyone's objective was. >> it is a new eight year contract. it will take the rest through the 2019th season. there will be some pension reforms. some nice increases. 200,000 a season by the end of 2019. the owners also got some flexibility in benching refs. speed. lori: what happens to the replacement refs? >> they go back to arena football. melissa: they go back to the lingerie league. lori: how do you know about it. >> the lingerie league? lori: learn something new about melissa today. melissa:

cheryl: peter barnes standing by in washington for us. thank you very much. the closing bell will ring in 50 minutes from now. peter is up next to talk about one of the worst performing dow stocks, still one of his favorite investments. [ female announcer ] they can be enlightening. hey, bro. or engaging. conversations help us learn and grow. at wells fargo, we believe you can never underestimate the power of a conversation. it's this exchange of ideas that helps you move ahead with confidence. so when the conversation turns to your financial goals... turn to us. if you need anything else, let me know. [ female announcer ] wells fargo. together we'll go far. cheryl: our power mover of the hour, netflix. down today after they began covering the firm with an underperformance rating. down 3.3 right now. creating the company will be affected by spiraling costs. it has fallen significantly after dealing with several hurdles including a subscription price hike. trying to deal with the high cost of acquiring movies and television series. down 61% over the last. and l

our peter barnes is in washington with more. ter are we still talking about tapping the strategic petroleum reserves? >> a white house official telling me today that option remains on the table as new protests against the u.s. began today in afghanistan, pakistan, lebanon and indonesia over that anti-islamic film. the president of libya now says the attack a week ago on the u.s. consulate in benghazi was anmaed assault. he says that the attack, which occurred on the 11th anniversary of 9/11 was possibly organized by a group with ties to al qaeda. but the obama administration continues to say that the assault was spontaneous and unrelated to the 9/11 attacks. >> we don't see at this point signs that this was a coordinated, planned, premeditated attack. obviously we'll wait for the results of the investigation and we don't want to jump to conclusions before then. i think it is important for the american people to know our best current assessment. >> oil and gasoline prices while pulling back a little bit today, remain elevated in p

peter barnes joining us with more on the warning today, peter? >> that's right, ashley.ing politicians here and in europe to follow through on their policy promises to get uncertainty that she says is slowing global economic growth saying global growth will be weaker than the imf had anticipated in july as recently as july, and she says the uncertainty is, quote, "having very real effects increasing divergence of fortunes in the eurozone and a tepid recovery in the united states" she urges lerdz to complete work on their plan for unified bank supervision and fiscal union. in the u.s., she says current uncertainty of the fiscal cliff presents a serious threat from the united states. we hope that political clarity emerges soon, and with it, actions to avoid the fiscal cliff. >> was situation is a little like a jigsaw puzzle. the pieces that fall into places, but the whole jigsaw puzzle is not yet assembled. we sort of know what the country picture should be, but the whole piece has not come together. >> in the meantime, she says the international community must support eur

connell: peter barnes in d.c. this has the attention, peter of both the president and mitt romney; right? peter: yeah, in the election year that's right. a new report shows that 18% of all homeowners making timely paints on their -- timely payments on their mortgages are under water. as of july their homes are worth less than the outstanding balance on their loans. that's millions of homeowners in this election year. but the problem is especially bad in several key battleground states. take a look at this: in nevada 55% are under water. florida, 33%. michigan, 30%. under water homeowners tend to get behind in payments or default and head into foreclosure more often than homeowners with some equity in their property. >> as we consider the relative stability that we've seen in home prices now, but, you know, the somewhat tenuousness of that. if home prices go lower, we could see new defaults going into the system and these states that have large distressed inventories could be subject to that. peter: but it's a littl

here to break it down for us peter barnes. were there any surprises? >> no.e what the governor released back in the spring when he filed for an extension. 379 pages. here is what we have today for the final returns filed and released today. $13.7 million in income for 2011. taxes 9.1 million. they donated some of their income to charity. for this 20 year snapshot for the rate they paid, what the governor paid in taxes and the tax rates, the hope of it rule, a big controversy. they paid an average rate of just over 20%. the lowest effective rate for, not sure what year, 13.6. charitable donations for the entire. just over 13%. the campaign is saying that taxes, plus donations, equal about 39% for the romney's. gerri: that is an interesting way to put it. romney had not paid taxes in ten years. does the senator have to take it all back now? >> he did. he did say at some point with knowledge of the matter told him romney had paid zero taxes. that is obviously not the case based on the documents released today. now he has shifted over to saying romney manipulated