schlesinger says, what are you talking about? nobody from the kennedy-johnson administration very seriously doubted the way it was going in vietnam. it was a consensus opinion. johnson's administration was heavily populated by kennedy holders. -- by kennedy holdovers. it was clear that schlesinger who was the kennedy family's court historian, was never able to record johnson's place in history, which is not to minimize what a difficult man johnson was. brian: we have talked about lyndon johnson a lot on this network. how did you go about writing a book that was different than others, not duplicating? joshua: i can't wait for the next volume of his book. you cannot understand lyndon johnson without reading those books. they are simply foundational. he is a biographer, and although i deal with elite actors, i don't view this as a biography, per se. it's really a history of political ideas, history of the way government administrated certain programs. it is a book about johnson, but it is not really a book about lyndon johnson. it i

there's a moment in the book, lenti is at a party, schlesinger is trashing johnson, valenti said what are you talking about? there's nobody from our circle, nobody from the kennedy-johnson administration who before 1966 very seriously doubted the wisdom of being in vietnam. it was a consensus opinion and johnson's administration was heavily populated by kennedy holdovers. it's an interesting, you know, very clear that schlesinger who was the kennedy family's court historian was never able to accord johnson his place in history, which is not to minimize what a complex man an difficult man lyndon johnson was. >> i can't wait for those books you cannot understand lyndon johnson without reading those books, they are foundational. but he's a biographer and although i deal with people, you know, i deal with elite actor, i don't view this as a biography per se. it's a history of political ideas a history of kind of the way that government admrtive -- administered certain programs. it's a book about johnson but it's not really a book about lyndon johnson. tick nickly speaking it's a book abou

t the two moscent presidents who did it, gerald ford in 1975 going through getting rid of ji schlesingercretary of defense dropping nelson rockefeller from the ticket, was a sign of political weakness, and jimmy carter in 1979 got rid of five cabinet members including schlesinger again and joe calafanto. and that's what you see with donald trump. but i think at a personal level there e two things that have to be commented upon. first of all is that there is about this adsministration t fatiguing, draining aspect. people really -- americans are not consumed wi politics and policy and government. they want somebody who's going to run things and run them in an orderly way. this ha has been disorderly from day one, an it's draining. it really is, of the nation's well being and peace f mind. donald trump promised he would bring th best people, that he knew the best people, they would all come. ww we've reached the point, quite frank ri,here people won't even accept invitations to the white house to be interviewed or overtures.he running out of, i think, of personnel and i think he's running o

jill schlesinger, thank you. >>> 5:42. a college baseball coach is being investigated for an email he sent to a high school prospect. yes says he won't consider the player -- why he says he won't consider the player because of his home state. >> and a live look out at 880 in oakland. it's a wet commute. so out the door take your time getting to wherever it is you're going. jaclyn will be back to let us know what to expect on the roads and neda is going to tell us how long this rain is going to last. at&t has a network with thousands of best-in-class security experts. which means... more of the eye balls you want watching the network... & less of the ones you don't... more experts preventing security issues & less security threats impacting our customers. more of a highly secure network with more security products available for further protection & less per month than comcast for business internet. switch to at&t internet for business. more & less - that's the power of &. ♪ when seeds we sow ♪ give free their fruit ♪ to han

jill schlesinger is here in studio 57 in the green room.u how to use that cash to jump >>> this morning's eye on money how to fund your retirement with a tax refund. with the tax filing deadline less than one month away the irs has already handled more than 67 million returns. a large majority of taxpayers will get a refund. the average is just over $3,000. cbs news business analyst jill schlesinger is here with the best ways to use the money when it comes to planning your retirement. always great to have you on. thank you so much for being here. >> good morning. >> if you're thinking about investing your return in an environment fund what is the best choice? >> we're looking at an ira or roth ira. that's the thing people hear about the most. there's a lot of confusion. with a traditional ira you get a tax deduction, grows without any tax until you retire. when you take the money out the money is taxed at whatever tax bracket you are in the future. a roth is different. no tax deduction today. money still grows without any taxation. when you

are exempt for now, pending a renegotiation of nafta. ( applause ) cbs news business analyst jill schlesingers here to help us understand the impact of these d gher steel and aluminum prices and what happened today. for the folks watching at home, jill, what does this mean? >> well, if you work for an aluminum or steel producer, this is good news. this is going to be good for those companies. they may even hire more. but if you work for a company that uses imported steel or truminum-- a car manufacturer, maybe an industrial giant, a construction firm, or maybe a company that uses aluminum in their cans-- this may not be good news. and there are millions of people in those industries, just hundreds of thousands in the others, so we're worried that there may be greater risk than the potential reward. from a consumer angle, what we're worried about is could we see higher prices? right now, we don't know. but if prices are passed along to consumers-- and already, the automobile industry is warning tr prices could rise-- this could be bad news. and, finally, if we were to see ndtaliation on a bigg

cbs news business analyst jill schlesinger is here.ealize they will get a tax break and what to do with it? >> unfortunately no. most people don't see it. i think it has to do with the number you said about the $900 over the course of a year because when you break that down you get paid every other week or every week, it may be, you know, maybe $75 a month and that's a weird amount. it's enough you could do something great with it but a small enough amount if you don't figure out how top capture the money you might spend it. the first thing that every certified financial planner will tell people is, set up some system to automatically capture that money. go check the pay stub, check your bank account if you got direct deposit, set something up and get the money out of your hands before you spend it and put it in savings bump up your retirement savings. put more money down on the credit card debt and do something and make it automatic. >> tax day is approaching, april 15th. a lot of people are thinking about tax returns and fingers and

jill schlesinger has advice on what to do with the extra money. >>> and the movie ticket subscription moviepass is admitting it's exploring ways to collect private data on its users. jamie yuccas looks at how technology can be used to track your every move. that's the "cbs morning news" for this thursday. thanks for watching. i'm anne-marie green. have a great day. -- captions by vitac -- www.vitac.com good morning. it's thursday, march 8th. i'm michelle griego. and i'm kenny choi. time is 4-- >>> good morning. it is thursday, march 8th. this morning the airport at sfo is reporting at least 40% of departures are severely delayed and that's because of that massive storm in the northeast. not good. so if you are heading out to the airport, you definitely want to check ahead. i'm michelle griego,everybody. >> good morning, i'm kenny choi. the east coast is dealing with all that snow and winds. it will mess up the airports and it's that domino effect. >> new york, philadelphia, boston, it will take a while to get there. our area just light drizzle. it's not severe. we have raindrops on th

c cbs business analyst jill schlesinger is in our toyota green room.on money." why 2018 may be a good year. >> seems like we should lower the lights.xactly. putting more than money pocket. >>> it is a good year to start building your personal savings. the new tax plan is now in effect and most americans will they estimate taxes on the average household will be cut by about $1,600 for middle incom earns making between 49 thors$49,000 and $60,000. good morning. >> do most realize they're going get a tax break and know what to do with it? >> unfortunately no. most don't see it. when you get paid it's like $87 a movement unfortunate let's a small enough amount that i you don't figure out,000 capture the it. first thing every certifiedyou, automatic will capture that pay stub or direct deposit. set that money up. get it out of your handing before you spend it. put it into savings. bump retirementsavings. credit debt. do something and make it approaching april g about tax returns.s crossed, eyes toes crossed that back. what's the to back. >> the irs says abo

. >> reporter: cbs business analyst jill schlesinger. >> a tit for tat trade war would be bath for bothes. >> reporter: today's tariff nuancement fulfills a long-standing campaign promise. >> when was the last time you said oh, gee, we beat china? >> we can't continue to allow china to rape our country. >> reporter: one of the president's concerns, chinese firms stealing u.s. technology patents and making similar products for less. china also holds the largest portion of america's $21 trillion debt that sxlefrnlg fears of retaliation created anxiety among republicans in congress. iowa senator charles grassley. >> i think i would advise our people in the executive branch, from the president on down, to be very cautious how you approach it. >> reporter: the administration has 15 days to identify which chinese imports will face the new tariffs. it will be at least 30 days after that before those tariffs actually take effect, giving both nations time to find if they want to another way. >> the new tariffs sent the stock market tumbling. the dow was down more than 700 points. and china is vo

cbs news business analyst jill schlesinger is here to look at the ripple effect.i think really hurts. because it was so fun as a kid to walk through toys "r" us stores looking at the aisles of staff you can't get but you want what to dream about. >> yes. >> so they filed for bankruptcy in september. take us through the time line. what happened? >> they were really hoping for a very strong holiday season and the holiday season was quite disappointing. remember, the whole reason they went into bankruptcy was sort of a convergence of bad timing and bad decisions. they did a deal in 2005 with a private equity firm. it saddled the company with $5 billion worth of debt. at the same time, online sales growing and becoming a huge player in the toy market. and also we should note that the actual kids started to shift away from physical toys to technology. >> they're on their phones. >> as you said, about 33,000 employees looking at losing their jobs. this is all happening literally as we speak. they will begin the process. those folks will get paid for 60 days. we should a

jill schlesinger tells us what we need to keep and what we can toss. it is tax season, the how long do we need to keep the old returns? >> because the irs has up to seven years to audit, you have to hold onto the returns and supporting documents for seven years. a little bit better for bank and investment accounts. if your banking online or have accounts online, find out for how long the companies you work with make documents available. if you are still receiving paper statements, keep them for a year. then shred them. there is one big caveat, if you think you are a family member might be applying for medicaid, there are many states that require you show five years worth of statements. when it comes to your credit card statements, keep the business or tax items there, flat the items, but then shred the statements themselves after 45 days. >> at least we don't have to keep those statements for seven years. >> exactly. >> there are some things you do need to keep forever. >> this is the one that makes people nuts. if you have a birth or death certificate

on the road, when i became part of establishment and at the century club in new york with arthur schlesinger jr., jack kerouac is a bum. never on the the pantheon of great. what are you dabbling in kerouac for? it bothered me on that. other kerouac books, visions of cody and big sur i started a campaign to get him in the library of america. i did it. it is the road novels of jack kerouac. we have two volumes of kerouac in there when whitman and with frederick douglass because i thought he belonged in the american pantheon. i would like to do that with thomas wolff of north carolina, being derided all the time but wolff's book are out of fashion. but wolf is is he very potent voice. >> i wonder if each of you could talk for a minute about who would you like to write about now? i know you're writing about james madison now. do you have a thought beyond that? i'm particularly interested if there is somebody you would like to write about but you know what, your publisher says nobody cares? >> oh, no publisher would ever say that in cynical california. >> you're in cynical california. >> academic

tom: that is probably influenced from arthur schlesinger. who i quote around that same passage.he major thing you realize ours , is an experiment. who cheerith people on american exceptionalism and i would refrain that to say that ours is an american experiment. experiments can fail, as all of us who took science in high school know. experiments can fail. and we continually need to reinvent and reinvigorate and renew the american experiment so that it does march on and succeed. america is an idea. an idea that which family you are born into or which zip code you live in should not predetermine the opportunity to succeed in america, and everyone should have a chance to excel and to learn. there is an american dream. one of the authors in this book is horatio alger. i would not have thought about him, but after a while, as my list got bigger, i thought i have to work on that. brian: tell us about horatio alger. tom: he grew up in boston and went to harvard. he had some problems in the young ministry where he was active and he was kicked out of boston. he went to new york and had a

cbs news analyst jill schlesinger is here to explain all of this. tell us, there are these tariffs on steel and aluminum. who would the winners and losers be? >> obviously, a domestic producer of either steel or aluminum is going to do well in this scenario. there are some pretty major losers that could come to bear. we could see the car industry. a company like boeing that ed thats steel to make airplanes. and we could see it trickle down even to a beer company because a beer can is made of aluminum. there are some clear winners and losers. it may not be necessarily passed on to the consumer because obviously a can of beer is not just the aluminum. some companies may choose to actually eat that cost. we'll have to see. >> these tariffs are going to cover steel, aluminum imports from all countries around the globe. how is that going to affect the u.s. standing internationally? what's the response? >> i think this is the big fear among economists. it's not just what's going to happen to consumers but will this spark a trade war? despite what the pres

between them over vietnam and he felt that he over exaggerated sometimes in and sitting next to ari schlesinger who simply said it is tragic bill moyers is out because he has the same attention everybody else have that may have been one of the pieces that i also think moyers was developing his outside personality and was tired of being the conscience of the white house or the good angel to talk of religious piety and implicitly if not for moyers he would be a total monster so they had a falling out and they didn't repair that breach. >> so it isn't new to have the aids with egos who want to have their own image in the press like c-span like steve bannon. >> to be a secretary is a dangerous job and moyers played it a little bit close but in some respects cannot be helped but he was warned when he became press secretary neck i suppose we should close the conversation of the legacy of the great society. what was the most lasting and positive impact on the united states? >> look at conservatives who have caricature of the great society over the last 30 years they characterize it as an almost soviet

. >> this is business analyst jill schlesinger joins us live from new york with more, good morning, jilling. >> in the decade since the great recession is what the state of the saving in america >> reporter: first of all jim did you get my happy america saves week card that i sent to you specially believe it is in the mail but i will check my mailbox later on. >> reporter: only people celebrating me and jim. okay. consumer confidence has hit its highest level in 17 years. despite that fact, the savings rate could be suffering, it stands at 2.4 percent, wow, that is a far cry from the 11 percent rate that we saw in 2012. it is also lowest level since 2005. here's good news recent change s in the tax law and withholding are probably going to mean that many of you will see extra money in your paycheck. well well, capture that money and divert tonight tour savings, that is your best bet >> so important. >> don't spend it. >> what is best way in addition to automatic to develop a savings plan. >> a lot of people will say create a budget. i say skip that. just tried to find money. just track y

cbs news business analyst jill schlesinger joins us now with a preview of the show.o jill, what brands or models are expected to break through this year? >> reporter: suvs and trucks have propelled auto sales over the past few years. consumers are going to once again focus on the new or enhanced models of these brands, the there will be fresh versions of the cadillac xt4 and the lincoln navigator. i know these big vehicles, they have made improvements on fuel efficiency. but, they still do hurt when you fill up at the pump. and that's with gas prices relatively affordable. for those who are looking for a better deal on price and gas costs, stick to the sedans or compacts. nissan altima and the new hatchback toyota corolla is putting out. >> those are a little more gas efficient. all right, jill. what about the verdict? do you buy or lease? i kind of have a feeling i know what you're going to say. >> reporter: it's so boring. you know that buying a used car is usually the best deal. do you that with cash. but let's look aapples to apples. you would buy a car with a ca

cbs news business analyst jill schlesinger reports.et's start with paying attention to the tax credits. >> reporter: yeah. these are important because this could be a way you actually make money because credits reduce your tax bill dollar for dollar instead of being calculated on your tax bracket. most are limited by how much you earn. the earned income tax credit that's the one you might have heard about gives you a maximum of over $6,300. the child tax credit is worth up to $1,000 for each qualifying child under the age of 17. and then there's the child and dependent care credit worth up to $6,000 if you pay someone to care for a dependent under the age of 13. so you can work or look for a job. okay. families with college kids the american opportunity college credit $2,500 can be used for the cost of tuition fees and course materials paid during the taxable year. >> so now let's focus on deductions standard versus itemizeed. >> this could be your last year of itemizing. the new tax law doubles the standard deduction. this year, you l

cbs news business analyst jill schlesinger joins us now to explain why he resigned and what it meanslet's talk about cohn and why he is leaving, jill. >> reporter: well, insiders say the move is in response to the president's announcement last week of those steel and aluminum tariffs. now, remember, cohn was part of the so-called globalist wing of the white house. that's the wing that's been fighting against protectionist trade policies. he is also a former trader who became the second in command at goldman sachs so he is known for his market savvy. on the heels of the recent stock market correction, cohn's departure is being seen as a cautionary signal for many investors that maybe the market recovery is at risk. >> so jill, we also understand that this announcement comes just as we celebrate a market anniversary. >> reporter: well, i know it's hard to believe, but tomorrow marks the ninth anniversary of the bull market for stocks. way back when, march 9th, 2009, the dow closed at 6547. that was actually the lowest level at the time since april of 1997. the s&p 500 was at 676. nasda

here to discuss the impact of a possible trade war is cbs news business analyst jill schlesinger. america's first trade poolcy? is that what this is? >> i think so. and coming on the heels of just about a month ago when we had the tariffs on the solar panels and other appliances, i think it is somewhat consistent. look. the critics are really worried about this one because this is taking it to another level and the fear is this could be the beginning of something much bigger and retaliation from some of our trading partners like canada and mexico who were already negotiating nafta with them, this could really hurt much of our negotiating stance with these countries. >> jill, the eu has already sort of announced some very pointed retribution, if you will. they seemt to be not necessarily surprised, but they have their ducks in a row. >> yes. this is from the european commission. tariffs will be on harley-davidsons, bourbon, and blue jeans. that's quite pointed. look. this just shows you. these are our allies. europe, but not only that, a lot of the people in the canadian countries

cbs business news analyst jill schlesinger is here to explain it all. good morning. tell us. who would the winners and losers be? >> obviously a doughmestic producer of steel or aluminum is going to do really well. there will be major losers. the car industry, boeing who makes steel airplanes and even a beer company because a beer can is made of aluminum. there are some clear winners and losers. it may not be passed on to the consumer. some companies may have to eat that cost. we'll see. >> it's aluminum imports from all countries around the globe. how is that going to affect the u.s.'s standing internationally and what's the youtd come going to be? >> it's not just what happens to consumers but will this spark a trade war. despite what the president tweeted. in my mind anything that has war in it not good. so we're worried about retaliation. specifically in a weird way, the agricultural industry is on alert right now because many of the retaliatory measures could be aimed at the things that we export. so that could mean something like soybeans. we're a huge exporter of soybe

figure of history andrew jackson at 150 years for a decent biography to be written about him by schlesinger and it may take 150 years to be written about donald trump and set aside his flaws, which are many and character flaws which are many but his election in it of itself, the nomination are important in the standpoint of history. but reagan remains a compelling figure of history even trump does not understand him the other day he attacked him in pennsylvania on his trade policies he was free trade that it is a fundamental misunderstanding of his trade policy at his core he was anti-communist wanted to beat the soviet union at his core he knew free trade with china and mexico would strengthen our alliance and economies to make them much more resilient to communist takeover as a soviets were trying to do in central america and nicaragua so for trump to attack reagan on trade is a fundamental misunderstanding also reagan understood going back to his time at eureka college that during the depths of the great depression many people believe it was aggravated by republican congressman and senat