tavis: it is a great legacy and back story to the legacy of peter g. peterson. his book is called "the education of an american dreamer ." how he earned his way from a diner to wall street and beyond. all the best to you, sir. >> thank you so much. tavis: catch me on the weekends on public radio international. you can catch us at pbs.org. i'll see you next time. until then, good night from l.a. and as always keep the faith. >> for more information visit tavis at pbs.org. tavis: join me next time for a look at best cancer and cancer survival, diane carroll. we'll see you then. nationwide insurance proudly supporters tavis smilely. tavis and nationwide insurance. working to improve financial literacy and the economic empowerment that comes with it. nationwide is on your side. and by contributions to your pbs stations from viewers like you. thank you. >> at subaru, we build vehicles like the rugged subaru outback, s

your point, he aeges how you think your life might have bone fferent without the ring, this peter g. peterson h a ring to it. had your fher stuck with that original name, what dyou think your life might havbeen? >> wn i pronounce my nam peter petson it sounds le i was born to beedundant. [laughr] itis an interesting question as to whether in those early days having a long greekame might have been a problem. never experiencedhat diectly. but as you kno prejudice can be very indirect and impcit. i do rember this much. the includelux klan ptured my father'sestaurant wit the sign that said d't eat wit the greek. so thereas obviously some prejice there. and they didn't ve any blacks and -- in nraska, so they took anothestep and went to e freaks, i guess, sohere must have been som prejudice. tavis: how were you aut this time, do you recall >> i w about eht or nine years old when i started working in th restaurant. took cash. always prey good at math. i made changest the cash register. i wa an aggressive cracter. my father had meal tickets in ich you could get $5.50orth of fd for $5 if you paid the

peter peterson has a separate foundation which is among those providing funding for "worldfocus." thanks very much for being with us. there's been a perception that the chinese are growing skittish about investing so much money in america. was the treasury secretary able to convince them about the soundness of the u.s. economy? >> well, they seem to be persuaded of the soundness of the dollar both today and going forward. but you know what they -- at least that's what they said. but they really think of course is hard to know given the perspective large u.s. budget deficits going forward over the next several years. they certainly have reason for concern given the large volume of dollar holdings that they have now. >> and i guess the question becomes to you, do you think that the chinese are really convinced that the obama administration will take steps to cut the deficit once our economy's finally back on its feet? >> well, that was certainly the message from secretary geithner and chairman bernanke. they both addressed this question slightly different ways. mr. geithner talking

the chairman of the peterson institute. peter peter son has a separate foundation. thanks very much for being wit us. there's been a perception that the inese are growing skitti about investi so much money in america. wa the treasury cretary able to convince them about the soundness of the u.s. economy? >> well, they seem to be persded of the sndness of the dollar both todaynd going forward. but you know what th -- at least that's what the said. but they reay think of course isard to know given the perspective large u.s.udget deficits going forward over the next several years. they certainly have reason for concerniven the large volume of dllar holngs that they ha now. >> and i guess the queson comes to you, do youhink that the cnese are really convinced that th obama administtion will take sts to cut the deficit once our economy' finally back on its feet? >> well, that was certaiy the message fr sectary geithner and chairman bernanke. they both addressed this question slitly different ways. mr. geithner talkingbout reducinghe budget deficit. substtially by 20 or 20

controller general, president and ceo of peter g. peterson foundation.we've been talking a lot about health care today. we've got serious thoughts about where tough decisions are going to have to be made to pay for health care to everyone. >> right. let's kind of review some of the things that happened so far today. on prescription drugs there are going to be some issues on the limited reimportation. competitive bidding for prescription drugs for federal c programs and potentially a limitation on advertising prescription drugs. most industrialized nations don't allow that. there's a constitutional issue. if you ling it to whether you're eligible under federal programs you can deal with the constitutional issue. we've got secretary sebelius whc i have a great deal of respect for but frankly i was disappointed she didn't answer questions. i didn't feel picked on because she didn't answer anybody's cc questions. there's a serious issue of what's the cost beyond ten cc years. prescription drugs, you know, wc made a huge mistake on prescription drugs because

. >> another book by peter peterson. >> he has lived a fairly phenomenal life.ho was born in 1926, raised by greek immigrants, was born in the depression era in nebraska. worked in his father's beiderbecke found himself of the secretary of commerce for nixon. chairman and ceo of lehman brothers and later cofounded the blackstone group your kerry are in the greatest recession since the great depression, and he has sort of a birds eye view of this, that few people would have. >> who is pope bronson and ashley merryman. >> a journalist and writer of the number one bestseller. ashley merryman is a science journalist. and these have taken a look, much as they did for the economy, and friedman did for globalization. they are taking a global look at children. what they discovered is there are certain key twists that science is have overlooked. and recent research shows that conventional wisdom of raising our kids is all wrong. so they want a national magazine award for a piece they did on praise in new york magazine. it turns out for example that we all think grazier c