host: james schlesinger was director? guest: yes. host: and brent scowcroft national security advisor. . exactly. so with people of that ilk you can call them and they will say high carl, maybe but won't agree to an interview so i probably took two days it write each e-mail. then i think i will interview my mother. she will have something to say. then the whole movie changed because she brought the human element, the underneath. what are we doing? what is show doing? she is keeping him to a high moral standard. she referred to the c.i.a. as catholics in actionlike in the f.b.i. especially the early years, a lot of catholics because they have a moral compass and they operate from a moral point of view or at least you hope they do. religion, morality is part of their mindset. that was part of mine too. i went to gonzaga here it d.c. and georgetown so i was surrounded by the jesuits and they made you think. we were taken as boys to the march on washington, the tent city and the priests would say what do you think? is this legal? should

would you please get arthur schlesinger off the list of people who get my cables? why?t the most garrulous party going person him and the whole white house. doesn't do anything you get by cable has around town by nightfall. so in any, he said, no, you better not. i'll have to do. you're going to come out poorly in his book as it is. [laughter] >> and one thing in your, how many compartmentalized president kennedy's life was, she explicitly mentioned the staff. >> yes. and you know, one of the things that i found remarkable, but it's real, nobody in the staffer did business in memos. we communicated by phone, and conversation, and that's it. so there are not great records. >> one reason the oral history program. >> that's right. and it made it very refreshing when you could know that something that you had seen or done was not recorded, but you could also see -- >> was there anything in particular you would have -- [laughter] >> no. >> it's not too late, dick. >> no. i have saved that for my book. [laughter] >> no. the thing that i remember best about all of that was whe

thank you, jill schlesinger, editor at large for cbsmoneywatch.com. >> reporter: thanks. >>> in washington, today the house is expected to pass a bill to extend the payroll tax cut and long term job benefits but a provision supporting a pipeline project may keep democrats from supporting it. the white house is also opposed to the pipeline's language in the bill. >>> it is 5:45. this just in. former penn state assistant football coach jerry sandusky has waived his preliminary hearing. we have some live pictures from pennsylvania outside that courthouse. that decision means prosecutors can now move forward toward trying him on charges of child sexual abuse. he is charged with 50 counts involving 10 boys he met through the children's charity he founded in 197 7. the accusers are adults. some were expected to testify today. sandusky denied the allegations. again, sandusky has waived his preliminary hearing. stay right here with cbs 5 for more on this developing story. >>> in bay area headlines now, pinole police are searching for the gunman who shot and critically injured a man at an in-n-out

jill schlesinger, editor at large for cbsmoneywatch.com joins us. good morning. >> reporter: we always like a day when the market goes up nearly 500. so here's what happened. the federal reserve, european central bank, banks of japan, canada, england and swiss national bank got together and said we have to fight the spread of europe's debt crisis. we are going to do that by making turning more available to european -- funding more available to european banks. they are not lending money for these banks. it's swapping currency with the european central bank which will then lend to the european banks. so u.s. taxpayers not on the hook. european banks need u.s. dollars to fund their daily operations. their access to this money to u.s. currency has dried up because who wants to lend money to a bank in europe right now, right? so u.s. banks are also sitting on their cash because they are worried about europe. what this action is trying to do is to keep money flowing. hopefully that translates into more bank lending even here in the u.s. for homes, cars an

let's check in with jill schlesinger, editor at large for cbsmoneywatch.com.l, the rate is reduced which we haven't seen in so long. what else stood out about this report? >> reporter: another thing about that rate, it's the lowest since march of 2009. even though part of the drop was attributed to 315,000 people leaving the labor force. so let's get to some good news this. year the u.s. economy has added over 130,000 jobs per month this year. all right. we would like 200 but you know what? this is pretty good. we also say a drop in the number of long-term unemployed folks. those are people out of work more than 27 weeks. we're down to 5.7 million. it's a big number but the lowest since october 2009. so marginal improvement. >> you also said there's a new trend that bodes well for us? >> reporter: the number of people who are quitting voluntarily is up 11% from a year ago. now, this jives with a new survey which found that a whopping 84% of respondents are planning on searching for a new job next year. that compares to about 60% two years ago. so what's the bo

jill schlesinger, editor at large for cbsmoneywatch.com joins us and jill, this is all deals with a boost in consumer credit but i guess tell us why we are not feeling good about this? >> reporter: well, the federal reserve said that consumer credit in october was up over about $7.5 billion, that's 3.75%. it's the second straight month. increases. both components of the total revolving credit that includes credit cards and nonreinvolving credit, that's student and auto loans were up. that's a big change because credit cards have been drifting lower so people starting to borrow again with their credit cards. the fed's report excludes mortgages, home equity loans and other real estate loans. we know this that area borrowing is stagnating. here's the key. the willingness to assume debt is a sign that americans are feeling more confident about the economy. and since consumers do represent about 70% of the total economy, that confidence and that borrowing and spending could lift us out of the slow growth recovery. that's why economists were kind of psyched about this report yesterday. >> might

to voice any opinions and reuses they have they must do so in accordance with the law is also schlesinger's in the city should be no foreign intervention in russian mystic politics the president better always try to alleviate some of the concerns of these protesters where they are alleging electoral bias and unfair elections by saying that any cases of electoral fraud will be thoroughly investigated. and what we know about the new parliament at this point. well according to official results just in last night says looking like united russia who have the majority who do have the majority but they won't ok you the constitution majority they reached. seeks gains made by the opposition to the cold response you get these two c's also for russia they surprise quite a few before this election campaign they may not do so well in fact they see the expectations coming in the places the opposition factions when it comes to the opposition will that you have to just fifty six in total in the duma and that's more than one hundred fifty seats needed to block any constitutional reform is something that may

i'd bang that house out and move on. >> jill schlesinger, thanks so much. >> great to be with you. >>> now for the rest of this morning's headlines, cbs news correspondent betty nguyen is at the news desk. >> good morning. topping our news, prince phillip, the 90-year-old husband of queen elizabeth is in the hospital recovering from heart surgery. correspondent charlie d'agata is following these developments and in our london bureau with the latest. good morning, charlie. >> good morning to you, betty. >> reporter: prince phillip has a history of heart disease and according to one of the papers here, his bodyguards instructed to rush him into the hospital even against his will if he is short of breath. >> reporter: they rushed in to be beside prince phillip at the hospital where is he recovering from emergency surgery for a blocked artery. the palace says doctors successfully inserted a small stent. >> putting a stent in helps the blood flow to stay open. the damage is cleared and the damage is minimized. if the artery is left closed with the blood clot the muscle will suffer and die

jill schlesinger, editor at large for cbsmoneywatch.com is here to explain. give us some of the does and don't as we approach the holidays because it's hard to budget trying to please everyone. >> reporter: i know. it's true, but here we go. let's get rid of some form of guilt, green guilt. just for the holidays, start with your manufacturing warranties. if you don't have a receipt that shows the date of the purchase the warranty is use less. you can't prove your item broke too soon. keep paper coupons. look what the checker just hanked you, may include coupons for things you regularly buy. may offer you cash credit for your next purchase. this is a particular favorite of the drugstores. your retailers are out there trying to give you cut rate offers. but you have to spend a few minutes online to print a coupon or coupon code. it may be worth it. i know the bills are piling up. only 10 days to go. >> how many times do you go to the store, you have 50 coupons and leave them at home or they're in the car or you fish one out and it's expired. i just hate that. >

with more on this we have jill schlesinger, editor at large for cbsmoneywatch.com she joins us live. jill, i got your name but for some reason i messed up moneywatch.com. tough morning. >> reporter: that's quite all right. we're very forgiving this morning. >> thanks, jill. hey, you know, you talk about losers turning into winners this time of year. why is that? >> reporter: well, uncle sam actually likes losers. if you have investment losses in a taxable account, remember, not a retirement account, just a taxable account, you can sell those losing positions and offset gains that you may have taken previously in the year. if you have more losses than gains, you are allowed to deduct up to $3,000 against ordinary income. if you have more than $3,000, you can carry over that amount to future years. now, remember, if you are going to sell something and replace it, the irs won't let you deduct the loss if you buy a substantially identical investment within 30 days. that's known as the wash sale rule. to avoid it, you can either wait 31 days and repurchase what you just sold or replace it

and be arthur schlesinger and people like that rid liberalism of its radicalism and, boy, they soundedretty good to me for a while there. even arthur. but -- and then again it happened again about '68, manager like that, '72 with midge and her husband and irving crystal and the whole gang of neo-cons. but the interesting thing is that at some point it stopped. and the battle lines were drawn. and that's something for some serious meditation. why did the movement of liberalism's liberals from liberalism to conservativism stop? i don't know. >> well, it's partly that -- the one i am familiar with -- [laughter] it was, it was made up of many things. the world had gone through a cat cliz m -- cat collision m, and now everybody was very cheerful in america, so there was a big radical sense of hooray, we won, and we can do it all. we can make this country just and pure and perfect and rich and everything. easily. and then we saw our children, how they were being educated, how they were growing up. and by the time they reached adolescence -- and we were also parading ourselves because we were

schlesinger, jr, and several other people mentioned today. i cannot remember who was in it. it was really a liberal. and john roche was the president of it. gradually, as the world changed, at least on foreign policy, he found himself much more in tune with "national review" it then with much more of his former allies. and he bill were talking somewhere, and john asked if he could write a column for "national review" yanda biland l said, delighted. so john of this column on foreign policy and it was always brilliant. i assumed we were far apart on domestic policy. then one day, something came up to do with poverty or whatever, and he gave an answer that led me to say "why, john, you sound like an israeli conservative?" and he said, "no, a catholic hinducolist." these labels can be attributed in different ways. you have any comments for each other, or shall we invite the audience? let us invite the audience with any questions, comments, summings-up. yes, nina? >> first, i would like to say it has been a tremendous pleasure to listen to these distinguished speakers and to hear

in fact, i heard arthur schlesinger, the famous historian who was close to jack kennedy -- we always" -- john f. kennedy, the executor of the stevenson resolution. those campaigns were aimed not only at the american people. they were substantive. he used half hour blocks of time for eloquent, substantive speeches. >> you talk about the 1952 and 1956 campaigns. your father lost books between those and a couple more states. what did he not do as well in 1956? did he make mistakes? >> eisenhower is enormously popular. these were years of economic prosperity and growth. eisenhower was popular. the war ended and -- that would come later in korea. what happened -- one of the things that happened, eisenhower would have never gotten reelected anyway. with the uprising in hungary and the invasion of suez by france, britain, and israel, these international crises that rallied the country as they always do behind the president. from then on, they're just really was not much doubt about the outcome. >> richard norton smith. >> i just want to go back to the 1952 campaign. it is accurate that he s