smart move. ♪ work and led the way toward an robert reich and david stockman. >>> we are back with robertthe left, david stockman on the right talking about jobs, the budget and america's economic future. david stockman, what would get corporations to start spending their money? as bob says, $1.9 trillion of cash on corporate balance sheets. what would get them to invest and start hiring workers? >> well, the fact is that's a bit of an illusion. there's $1.9 trillion of cash, but there's also $11 trillion of debt. in other words, the idea that the business sector is rolling in cash, it isn't suffering from a debt problem is wrong. the household sector still has $13 trillion of debt, almost at the peak level that we achieved in 2007. people are not spending because they're scared. they're not spending because they're broke. we can't then deal with the business reality that i just described or with the massive leverage condition that the household sector is still struggling with by having the government borrow money and, therefore, compound the amount of taxes that we're eventually going to

. >> professor robert reich good to see you as always.g in. >> thanks, chris. >>> on the topic he was talking about the debt, the headline in "usa today," put it over here, the u.s. owes a record $62 trillion, they call it unfunded obligations. that means you each and every american household essentially owes more than half a million bucks. take a look at the debt clock ticking up and up while washington can't come to an agreement about how to get it under control before we go bankrupt. congressm maman mack thank you being here. the numbers are so big i can't even wrap my head around it. you proposed a solution at least part of a solution based on a single penny. it sounds implausible. >> it's simple, that's what i love about this plan. republicans, democrats, independents, we take 1%, we cut 1% a year for six years. in the seventh year we cap spending to 18% of gdp which has been what the historical average has been and the eighth year we balance the budget and after ten years we cut $7.5 trillion and here is the message that i'm sending

but the critical most important thing is jobs, right now. >> all right, robert reich, david gergen, great we'll be continuing this conversation in the days and weeks ahead, no doubt. >>> coming up, president obama is feeling the heat to bring the troops home from afghanistan. sebastian junger has been on the ground there. he has a lot to say about what's going on there. you'll want to hear it. stay right there. [ male announcer ] this is james. the morning after the big move starts with back pain... and a choice. take advil now... and maybe up to 4 in a day. or, choose aleve and 2 pills for a day free of pain. smart move. ♪ i used to not travel very much, but then i discovered hotwire. now, i use all my vacation days. i can afford to visit my folks for the holidays. and reconnect with my girlfriends in vegas. because i get ridiculously low prices on all my trips. you see, when hotels have unsold rooms, they use hotwire to fill them, so i get 4-star hotels for up to half off. now i can afford a romantic trip to new orleans. hi honey! ♪ h-o-t-w-i-r-e... ♪ hotwire.com >>> back in 2009, presi

robert reich, thank you very much for sharing your experience and your wisdom.ciate it. >> thanks, e.d. >>> his book is called "aftershock." >>> coming up, japan's nuclear disaster may be out of the headlines, but it is definitely not over. eliot has the latest on this catastrophe. it refuses to go away. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. and celebrex is not a narcotic. when it comes to relieving your arthritis pain, you and your doctor need to balance the benefits with the risks. all prescription nsaids, like celebrex, ibuprofen, naproxen, and meloxicam have the

anyway, thank you, robert reich, david gergen. as always, great to have you. >> thanks, eliot. >> thank you. >>> now that we've seen the current crop of candidates all together, who jumped out as the winner or loser in the crowd? here now to delve deeper is our own e.d. hill and cnn's senior political analyst jeffrey toppin. thank you both for being here. e.d., all right, winners and losers. who's up, who's down in this game? >> i think it's pretty early in the game. i didn't really see a whole lot of winners. i think you looked for more of the losers. the people who lost the base that they really were going to go after. santorum i think was swept by bachmann. pawlenty by romney. and cain by paul. so i think you sort of saw people move farther back in the park, not necessarily farther forward. >> if somebody's going back, somebody's going forward. the way i used to run a race. but i hear your point. in every one of those you had two people vying for the same -- >> in the mind of the average american did somebody really push ahead?

administrations of truman eisenhower kennedy johnson nixon ford and carter more generally like yours robert reich. and then a real media man came into power what i will faithfully execute the ronald reagan was the king of deregulation of his f.c.c. deregulated t.v. and radio active so one person could own dozens of broadcast ations nationwide and said the free market would provide fairness in broadcasting so they got rid of the fair to start. anyway back then republicans and democrats passed a bill to reinstate the fairness doctrine newt gingrich and trent lott were co-sponsors. but ronald reagan vetoed it. the nine hundred ninety six telecommunications act suddenly allowed big companies like clear channel to own twelve hundred stations nationwide brown program them with conservative talk radio was. to set the bars. and looking at the five largest operators what we found was the one or ten to wanted fan which conservative talk show hosts self declared conservative hosts versus folks who declared themselves liberal or progressive. vantage of roughly twenty five hundred hours of conservative talk a

golf now in england robert reich has remained on course to clinch his maiden title on the european tour by stretching his lead to two strokes after round three of these how you know been hit five bird is while dropping just one shot to card sixty eight on the day and he's top of the leaderboard on sixteen under six players are behind on fourteen i don't think you can vote in favor of francesco molinari but also in the chase and back jane recruit the south african double bogeyed the fourth hole but immediately made up for the split with an eagle on the fifth. now they say it's never too late but swimming champion janet evans is aiming to return to the olympics at the age of thirty nine america's former great is back in the call and taking part in her first competitive meeting fifteen years alternate goal of qualifying the next summer's lunchroom picks the three star swimmer retired after the nine hundred ninety six games in atlanta it's five hundred medals and seven world records to name one of those records into the beijing games three years ago and other such people be a huge undertaki

robert reich. then a real media man came into power with what i will faithfully execute the ronald reagan was the king of deregulation of his f.c.c. deregulated t.v. and radio of so one person can own dozens of broadcast issues nationwide and said the free market would provide fairness and broadcasting so they got rid of the fairness doctrine. anyway back then republicans and democrats passed a bill to reinstate the fairness doctrine newt gingrich and trent lott co-sponsors . but ronald reagan peter. the one thousand nine hundred six telecommunications act suddenly allowed big companies like clear channel to own twelve hundred stations nationwide hit them brown program them with conservative talk radio was not just an unmanned spot to its was told to sit at the bars. the working at the five largest operators where we found was a nine to one or ten to wanted fan which conservative talk show hosts self declared conservative hosts versus folks who declare themselves liberal or progressive. advantage o

ranking member of the senate banking committee, robert reich, current professor of the university ofnia at berkeley and once again, abc's jon karl. that comedic setup had you all laughing. what is the reality? has one been hit by a truck? is it a head wind? let me ask you first. you've dealt with labor and the job market. is this cyclical, or is this a real structural whohole? >> the central problem is on the demand side. 70% of the u.s. economy is consumers and consumers hit with the rekwiv leptd of a truck. housing prices are dropping like mad. there are wages adjusted for inflation or dropping. their jobs disappearing and almost everybody knows somebody or has somebody in their own family or themselves. they're worried about a new job. under these circumstances, consumers are pulling in. they are not spending, and if they are not spending jobs will not be created. there's got to be -- in fact the jobs program we need is a way of putting money in people's pockets and creating jobs indirectly. >> we sort of know. if s there a plan to get americans back to work, not long term but now

committee, richard shelby, former new jersey governor jon corzine, and former clinton labor secretary robert reichat 2:00 p.m., on "fox news sunday," hear tim pawlenty. at 3:00 p.m., on cnn "state of the union," a review of tomorrow night's new hampshire debate with senator kelly ayotte, congressman charles bass, and former new hampshire governor john sununu. finally, at 4:00 p.m., on cbs "face the nation," representative steny hoyer and paul ryan, and senator lindsey graham. it begins at noon with "meet the press," 1:00, "this week," 2:00 , "fox news sunday," 3:00, "state of the union," and, finally, 4:00, "face the nation." >> the ayes are 72, the nays are 16. the nomination is confirmed. >> he was confirmed to succeed justice elena kagan as solicitor general. he is one of more than 100,000 people you can search and watch for free any time on line and are c-span video library. it is washington coming your way -- online at our c-span video library. it is washington, your way. >> on "indepth," linda hogan. her books include -- her latest is "rounding the human corners." sunday, july 3, noon est. o