therefore, we can say that this crisis is a chance for us, it's the chance for us to create a stability union, a stable union, worthy of the name. the question of finances very often it is summarized in cut, cut, cut. well, that's too simple. no, it has to to with the fact that we have to live in a sustainable way and we have to also think about the next generation. and if we were not able to have a sustainable system, well, we would be in a very difficult situation that we could never overcome in the future. and the financial markets doubt, they wonder if we can come out of this crisis, and, therefore, one of the elements is to consolidate our budgets. we could say that we have started. we have started the beginning, if you want. the pacts of the treaties are clear. we had the stability, it was very clear rules. the problem and the truth is that the rules were never respected. nobody checked them. and, therefore, the reality was different from what was on paper. so we need solid finances, solid budgets, sustainable budgets. among others for a generational justice. but not all the rules and t

and therefore we can say that this crisis a chance for us, it is a chance for us to create a stability unionstable union worthy of the name. the question of finances, very often it is summarized in cut, cut, cut. well, that's too simple. no, it has to do with the fact that we have to live in this sustainable way and we have to also think about the next generation. and if we were not able to have a sustainable system, well, we would be in a very difficult situation that we could never overcome in the future. the financial markets no doubt wonder if we can come out of this crisis. therefore, one of the elements is to consolidate our budgets. we can say that we have started. start at the beginning if you want. the facts of the treaties was clear. we had a stability pact with very clear rules. the problem and the truth is that the rules were never respected. nobody checked them. and therefore, the reality was different from what was on paper. so we need solid finances, solid budgets, sustainable budgets. among others for a generational justice. but now all of these rules you be n the stability p

this is now the 1860s, that is a threat to the stability of the union, a threat to the principals. it's a threat to the ideals that fired the founders during the revolution. so really it's a -- it's come down to this childish paul revere and really it's a korea decor and morally impassioned call to go to the balance strayeds. >> readers at the time understood the message of that. >> they knew the times they were living in. it so happened that the poem appeared in the january 1861 issue of the atlantic which came out as our issues still do, ahead of january, december 20th, 1860, which is when south carolina succeeded from the union. >> the first day they were to succeed from the union? >> yes. >> nathaniel hawthorne piece you mentioned a few minutes ago. chiefly about war matters, about a peaceable man. he takes this, hawthorne takes this trip in 1862 to washington. and what's his purpose? >> this is a fascinating piece. nathaniel hawthorne, the the founders and early contributors to the magazine was a great exception. he was very ambivalent about slavery, about abolition. and he wa

it's a chance for us to create a stability union, a stable union worthy of the name. the question of finances, very often it's summarized in cut, cut, cut. well, that's too simple. no, it has to do with the fact that we have to live in a sustainable way, and we also have to think about the next generation. if we were not able to have a sustainable system, well, we would be in a very difficult situation that we could never overcome in the future, and the financial markets wonder if we can come out of this crisis, and therefore, one of the elements is to consolidate our budgets. we can say that we have started, we have started the beginning, if you want. the facts, the treaty's clear we had the stability backed with very clear rules. the problem and the truth is that the rules were never respected. nobody checked them, and therefore, the reality was different from what was on paper. we need solid finances, solid budgets, sustainable budgets among others for a generational justice, but now all of this rules in the stability pack have to be binding, and that's why in this

attitude and engagement in china and premier wen have taken publicly towards the stability of the eurozone and the european union. we also welcome china's readiness to enhance cooperation of the stability of the eurozone. with premier wen, trade is a key component. >> of our correspondent joins me live now from beijing. martin, warm words, as you would expect from beijing. when it comes to the business of hard cash, we did not get much, did we? >> that is why warm words, but we did not see the chinese leader digging into his pockets. the eu leaders are in town. obviously, the back stroke is the continued economic crisis in europe. this summit was supposed to be held last year. it was postponed because of the financial crisis, which is still going on today. what with european leaders like to see what would european leaders like to see? -- what would european leaders like to see? president obama has made very -- premier wen jiabao has made very warm words. as of yet, we've had no firm commitment that china is willing to invest in european government bonds. >> when van rompuy talks about interdependency, he has a p

union. we will cooperate with them and hold dialogue. >> we welcome the positive attitude and engagement china and premier have taken publicly towards the stability of the euro zone and the european union. >> china's believed likely to continue discussing cautiously when and how it can support the eu in view of the strong opposition back in the country against providing support for europe. japan central bank has decided to step up monetary easing to boost the economy. the decision comes after the country gdp shrank in october-december period due to europe's credit problems and the strong yen. the bank of japan made the announcement after a two-day policy meeting that ended on tuesday. the bank says that japan's economic activity has been more or less flat. mainly due to a slow down in overseas economies and the appreciation of the yen. it says european debt problems continue to pose considerable risks for the japanese economy. the bank will aim for annual increase of 1% in consumer prices to tackle prolonged deflation. it will enhance its asset purchase program to inject more funds into the market. specifically the central bank will increase the

ministers said their countries are ready to support the imf, but the european union should make further efforts to stabilize its economy. >> translator: ensuring a stable monetary supply is essential for asian countries to achieve economic growth and prevent the european crisis from spreading to asia. the chinese vice premier and i agreed on the need for asian countries to help each other. >>> and now, let's look at what's on the global business calendar this week. first up on monday, eurozone finance ministers are getting together in brussels again. they'll consider the austerity package greece prepared to receive eu and imf bailout funds. on wednesday, existing u.s. home sales for january will be out. sales in december rose for a third consecutive month, and new u.s. home sales numbers will be out on friday. these housing data will give us a better idea how the struggling u.s. housing market is doing. finally on saturday, a two day g20 finance ministers' meeting in mexico city. they are set to discuss among other things how the imf can boost lending capacity. >>> let's look at market figures again. >>> th

you have to have some stability. with unionresentation, we have to be fair to workers who want to join the unions and that whole process in which you organize, and keep it transparent. host: to you agree with the caller, as he brought up something said have been proved by the union. it improved by the union. guest: -- that has been improved by the union. guest: we have not had an accident with a major aircraft in the united states since december, 2001. in smaller aircraft, we have, and we found out the situation he describes, not enough breast, et cetera, was taking place. we have -- not enough rest, but senator, was taking place. at the institution has administered some roles. after we did some of that, i said we cannot put a chocolate under every pilot's pillow. i get some comments about that. we can only do so much. people have to act responsible. if they're out partying, and show up not rested come i can't -- rested, i cannot control that. host: melody is in new orleans, a democratic color. -- caller. caller: if republicans

himself have taken publicly to help with the euro zone and european union and welcome the chinese residents to help with the stability of the euro zone. with premier wen jiabao, we see -- is a key cop opponent. >> well china's premier wen jiabao said he hoped the summit would strengthen relations between china and the e.u. >> there's no denying the european financial crisis is widening the impact on the world and security arena, escalating tensions and triggering a lot of new problems. we are facing enormous challenges, and therefore -- solidarity -- are the common choice of europe and china and the only right path. it is against this -- background that i believe that the consensus reached that the summit will help to further pull together the wisdoms and strengths of both countries and push forward the china-e.u. relationship in a more dynamic fashion. >> in beijing. were there any specific pledges of help from all that? >> no. that's the short answer. what we heard from premier wen jiabao was that china stood ready to increase its participation, but i think it's worth noting that that is not seen as increasing the

it was to establish security and stability across the vast middle reaches of the continent. from ocean to ocean, the uniontretched, and the continental united states was changed from a goal to a fact. but full security had only just been established in the great western country within our borders when americans were called on to do battle outside our shores. in the spanish american war, america's desire to help the cubans to their independence from spain flamed into action when the battleship maine was blown up in the harbor. they made their famous charge through a storm of whistling lead, up the slopes of san juan hill. the first to win army medals of honor on foreign soil, 81 navy and marine corps fighting men were also awarded the medal. this first conflict by american ground forces outside our nation's borders was brief, but it was a hint of things to come. america's growth, the prospering of the adventurous idealism on which it was founded, these were making the united states a world power. a position of world leadership unsought but unavoidable was even then being thrust upon the nation. this time i

what we mean when we talk about the beginning of a fiscal union is what we have already decided. that is to say, the stability and growth, a pact of which is now going to be binding. so we talked a lot about reducing the debt. people want to put that in their constitution sometimes. but for the first time, the european commission has the right to come and check whether the member states have really translated the stability pact in their legislation. and if they have not done it, the european court of justice can sue them. it's a paradox, if you want. we have a stability and growth pact, which is like european legislation, if you want. for all the other european legislation, for all the directives, the supreme court, the european court of justice, can sue a country that would not have applied the directives and the country must apply them. but in the lisbon treaty, we said okay, we're going to do the same with the stability pact. all the heads have said oh, no, no, no. we're not going to do that. it's so important because it's hitting our budgets. so we don't want the european court of justice to meddle with t

stabilize to allow consumers to come back. and the second thing is at what point will europe bite the bullet and say we have a monetary union, we have to stabilize -- we have to have a commitment to stabilize the value of italian debt. whether they do that through luring investors back or the more likely way which is expa expanding the power of the ecb so the ecb can do it just like the fed does it. >> we'll be wait fog ar long time. robert, thank you for joining us. for kayla and myself, good to see you today. "squawk box" is coming up next. we hope you have a profitable experience. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> good morning. the what it if scen

stability of prosperity on the world. it was designed to further cement the european union and to build a larger, more powerful economy, that this has not worked. as you said a moment ago, fiscal mismanagement lies at the heart of their problems and i completely agree. they're trying to solve fiscal problems through, i think you might call it, monetary solutions. i might call it monetary innovations, a less positive word. i don't think this is going to end well. for them or for us. and with regard to your question about the new agreements, the latest rounds of agreements, senator conrad, i think this is very small steps in the right direction, but very small steps relative to the problems and relative to what they need to do. so i think we should encourage them to do more. but it's not just a fiscal problem, it's a fiscal problem on top of a competitiveness problem, on top of an unsustainable balanced trade, and, of course, on top of debt levels. as you well know, in greece and i'm afraid now also in portugal, and ireland and arguably also in italy, these debt levels are not sustainable under their current arrangements. now

stabilize the bureau to find its way out of the crisis. but what is happening is the politics is drifting back from brussels to the capitol of the european union to the nation's state and that's because the nation states or getting slapped around by the european integration and globalization and they are saying we are madder than hell. we aren't going to take it anymore. they are pushing back and so precisely because the globalization punters the borders, the borders are coming back to life. so i think the 21st century will be a century in which the nation state is alive and well. >> if your theories or predictions turn out to be true is it a bad thing for the middle west? >> i would say it is a development. it is troubling in the sense that the u.s. has run the show for quite a long time and it's been able to create an international system in which western values predominate and in which they are inseparable from the interests. we have to prepare for a world in which the west is no longer as dominant as it used to be and which the west at one point represented 75 plus% of the world trade and gdp will not shrink to well below 50%. after all, t

union's economic and political structures. early entry into europe was the wish of the new democracies. it would help to stabilize them politically and smooth their transition to market economies. it would ratify the post cold war settlement in europe. given the stormy past of that region, inhabitants are said to produce more histories than they can consume locally. every should wish to see it settle economically and politically inside a stable european structure. why was this not done? why was every obstacle put in the way of the new market democracies? why were their exports subject to the kind of absurd quotas that have until now been reserved for japan? why is there still no room at the inn? the answer is that the european union was too busy contemplating its own naval. both the commission and the majority -- [ applause ] both the commission and the majority of member governments were committed to an early beating of the european union. that is, centralizing more power and the supernational institutions. they felt a widening of it, that is admitting new members would complicate, obstruct or prevent this proce

we were able to move forward with our unions to get over all across-the-board two-tier tension return and give back &. we were able to stabilize the budget. with the redevelopment surprises and most of our vacation over christmas and new year's, worked on rebalancing the city budget again. we did it in a way that we did not just cut redevelopment, but reorganized the city. the consolidated many departments. we eliminated many levels of administration. a lot of that goes to the second most accomplishment a mayor is expected to do. i believe i have hired a strong administrative team. the business times calls them the dream team. i think they are a dream. we are a city of dreams. our new city administrator, dance and, -- san santana. my chief of staff, and washington campbell, who used to work for jerry brown. in this city, jerry is the governor, the only jerry we talk about. and a home boy a lot of you will get to know. i want to make a couple points for this year. v/#i .wr? forward in the city. we're going to build on what is the whole of retail in oakland. i went to ics myself this year. we are going to go with retail . we are

stability. however comparing russia with neighboring countries we see other former soviet union countries grew strongerso putin's time is a time of lost opportunities. russia has enormous gas, oil and energy resources and prices are very high. yes, part of this money remains in the country and led to the creation of the middle-class which now tries to get rid of putin because they understand that most of the money was simply stolen by him and his friends. >> warner: so what have you achieved with this so far? i mean, even if, as you say, it's a foregone conclusion putin will win. >> we see that putin and medvedev have already announced political reforms and we have realized that there is no huge gap between the political activists and the public. thousands of people came out to the streets and we found that in russia there is this critical mass of people that just will not allow vladimir putin to treat them as he has for the last 12 years. >> warner: prime minister putin and his party, the kremlin, have all accused the west of being behind protest movements, of being behind you. specifically the u.s.,

the union's contract provides the employees something they haven't had before. stability>> i am so proud. i can take care of myself. i do have a chronic illness, so i'm able to have health care, dental. i can eventually buy into a 401(k). >> the local 5 is pushing hard right now for the statewide medical marijuana regulation control and taxation act. the act would provide statewide regulation and clarity for the industry. they will be supporting a huge signature gathering effort. >>> have you noticed, gas prices are up. and there is no relief in sight. "today in the bay's" bob redell is on the road in the south bay with how much more we're paying at the pump. good morning, bob. >> reporter: yeah, i'm amazed. good morning. driving through this 76 station here in san jose and passing the pump, it's $3.90 for a gallon of gas. i bring this up, because normally this time of the year, we're not paying that much. our ride into work is much less. but this is not normal. we're actually coming off the most expensive january ever for gas prices. and here we are, about a week into th

stability fund, et cetera. ultimately this will come down to politics and political union, which will be the more dicey thing. >to follow-up on what brian was just saying, are we back to perhaps talking about the bernanke put that essentially no matter what bad news is thrown at the market becaused the market is expecting some qe-3 that social security goi it's going to backstop it? >> what's been obvious to me in the last couple months is the data that's been falling off so dramatically in terms of the economy, talking about jobs, order rates in the manufacturing sector and data outside of our country as it relates to manufacturing, retail sales, auto sales, et cetera, all that has begun to bottom out in november and december and now gotten better through january. i think if we get through this problem over the weekend in terms of greece and in terms of greece in europe, then there is a chance that we could have a real sustainable recovery here, believe it or not, even without qe-3. >> kevin, thank you very much for joining us. enjoy your friday afternoon. >> thank you. >> all right, america, it's what you've

and the european union calls for assad to hand power over to his deputy the west says the move is aimed at bringing peace and stability to syria or violence between government forces and rebel fighters rages on now the u.s. and e.u. stand behind this resolution but russia does not moscow says it will block the u.n. resolution over fears the move will allow the west to militarily intervene in the country and russia is one of the five council members with the power to veto the resolution artie's on associate turk turkana joining me from new york just a short while ago and gave me the latest take a listen to what liz after an entire year over three hours of sitting around talking around a round table there certainly not any steps closer to a unified position at the security council today as we've been reporting top notch diplomats spearheaded by the u.s. secretary of state hillary clinton as well as her british and french counterparts descended upon the united nations headquarters here in new york city to try to convince the rest of the international community including russia and china who do not support the position th

stability mechanism. she cited unimprovement in the finances of italy and spain. the group of 20 finance ministers and central bank chiefs on sunday called on the european union to strengthen its system to support severely debt stricken counties in the eurozone. expanding the mechanism's capacity is high on the agenda for the eu summit starting on thursday, but without the backing of the fund's largest contributor, germany, eu leaders are likely to struggle to agree on an increase. >>> and on the tokyo foreign exchange, the yen is regaining ground against the dollar and the euro. the dollar is currently at 80.32 to 34 yen. euroo/yen at the bottom of the screen is 1007.67 to 69. investors are buying back to yen to lock in gains. this follows a recent surge in the dollar and the euro against the japanese currency. s&p's downgrade of greek government bonds is having only a limited impact on the market as it was within expectations. and on the tokyo stock exchange prices are dropping this tuesday morning. investors are selling export-related issues to lock in profits as they follow the yen takes a break. the nikkei index at 9550. that is a loss of 0.9%. the broader topix down

stability in the world. it was designed to further cement the european union and to build a larger economy. this has not worked. fiscal mismanagement lies at the heart of their problems. i completely agree they're trying to solve the fiscal problems through monetary innovations. i do not think this is going to end well. for them or for us. with regard your question about the new agreement, the latest round, i think this is a very small step relative to their problems and relative to what they need to do. we should encourage them to do more, but it is not just a fiscal problem. it is a fiscal problem on top of the competitiveness problem. on top of debt levels. portugal, ireland, italy, at these debt levels are not sustainable under the current arrangements. even my more optimistic colleagues will agree that the outcome in europe is going to be austerity. that is a good scenario. you have high unemployment, low growth, and that is not good news for our situation. the downside scenario is much worse. spillovers from their sovereign debt problems and their financial system and from there mega-

stabilize the euro, to find its way out of the crisis. but what's happening is that politics is drifting back from brussels, the capital of the european union, to the nation state. and that's because nation-states are getting slapped around by european integration and by globalization, and they're saying we're madder than hell, we're shot going to take it anymore. -- we're not going to take it anymore. they're pushing back. so those borders are coming back to life. there are so i think the 21st century will be a century in which the nation-state is alive and well. >> host: if your theories or predictions turn out to be true s this a bad thing for the? >> guest: i would say it's an inevitable development. it is troubling in the sense that the west has run the show for quite a long time and has been able to create an international system in which western values predominate and in which they're inseparable from western interests. we have to prepare for a world in which the west is no longer as dominant as it used to be, in which the west which at one point represented 75 plus percent of world trade and world gdp will now shrink to well below 5

rescue fund, the so-called european stability mechanism currently has around $670 billion at its disposal these days. officials from inside and outside the european union have suggested that that figure should be substantially boosted, maybe even doubled here to contain the problems. however, germany says that beefing up this fund would remove the incentive for such countries like italy and spain to reform their economies. >>> speaking of which, germany plans to announce a decision on the eurozone in march. the lower house of germany's government is preparing to vote on the second bailout package. the bundestag is planning to vote on this on monday. david, first of all, we really do need to boost this esm, this bailout fund, don't we? how much would be your guess? >> it's a little bit of a finger in the air. it's one of those things where maybe now the other countries around the world are taking a much more cautious and conservative view and saying we need to make sure there's more money in the coffers just in case there's monday down the line. just the greek situation has mushroomed. it always seems to be a few steps ahead of the politicians. it's may

union is being reset to tackle the flows in its design and operation that the crisis brought to the light. most crucially, tools to resolve the crisis have been established within the european financial stability fund, sorry, with the european financial stability funneled and the future permanent european stability mechanism. can i interject the notion that one of the main problems brought about by the euro crisis has been the resumption of old stereotypes about allegedly inherent and unchangeable characters of different people, sometimes constructed on the mere basis of the latitude of their countries. and, of course, it was the two originating forces of the stability and growth pact for germany and france which broke down its credible 2003. provided a complicity in all of this because it was italy in the chair of the council that allowed the two large member states to break the rules. and after all, it took from 2004 to 2012 to rebuild again a credible pact. and, of course, that was made even more difficult by the fiscal indiscipline in the meantime intervened, particularly in some southern countries. but traveling on the wide open road created by the nonacceptance of the rules by germany an

stability they crave peter all of the r.t. if your car before we go to marina with the markets lester the. international news embry for this hour the european union has recalled all of its twenty seven ambassadors to belarus minsk all of the polish and e.u. envoy out of the country. by the move. in retaliation to sanctions imposed by the e.u. over the country's rights record the sanctions date back to the december the ten december two thousand and ten presidential elections in which more than seven hundred people were arrested after a massive protest against alleged vote fraud president president alexander lukashenko dubbed it by some e.u. nations as europe's last dictator was declared the winner. now to egypt where all three judges involved in the case targeting local ngo workers have resigned the defendants sixteen of them americans are accused of cooperating with foreign n.g.o.s in funding the unrest that's shaken the nation for over a year the judges haven't indicated the exact reasons for pulling out only saying they felt quote uneasiness in tackling the process denouncement comes just two days into the trial. now returning to our top story

to do to get job creation going, stabilize our economy, the president laid out his keller's -- pillars both in the kansas speech and the framework in the state of the union. as you'll see in the details as well as the state of the union we put a strong focus on manufacturing jobs. we believe manufacturing punches above its way economically. beyond employing 11 million people, it has significant effects on multiples of additional jobs the support and are part of manufacturing. because a 70% of all private sector research and development, 90% of all patents, 60% of all exports. we put in detail some of the things we talked about in the state of the union on incentives for bringing jobs back, removing deductions for shipping jobs overseas. you can see in here today that there is a $6 billion tax incentives over three years to prevent the downward spiral that happens too often in our communities where when there is a massive plant closings, layoffs, or perhaps layoffs that could be related to the military drawdowns, that we are -- have a strategy for those communities to attract new employers, not after they've gone to the downward spiral, the before. this b

reference to the value -- cultural reference to the value of the stability that the euro has allowed us to share. economic and monetary unionpieces were missing when i last was here to deliver a few reflections in 2006. as we know, it was both an economic and political project that was meant to complete the european single market. i think i said on that evening here, the euro is meant to be the cherry on the cake of a single market, but many of the problems were coming from the fact that the cherry had been put in that position, but the cake was not yet completely there. [laughter] given the still very imperfect stage of european real economic integration. the institution of -- and framework of the monetary union is being reset to tackle the flaws in its design and operation that it brought to the light. most crucially, tools to resolve the crisis have been established within the european financial stability funded -- starting with the europeans to bid -- european financial stability fund. the rule book of the stability and growth factor has been updated and enriched with sharper rules. can i interject the notion that one o

stability they create peter all of the. time before we get to marina with the markets here on r.t. for now the world update and some international headlines in brief first with the european union recalled all of its twenty seven ambassadors to belo roofs after minsk ordered the polish and envoy out of the country. made the move in retaliation to sanctions imposed by the e.u. over the country's rights record the sanctions date back to december two thousand and ten the presidential elections at that time in which more than seven hundred people were arrested after a massive protest against alleged vote fraud president president alexander to look at dubbed by some e.u. nations as europe's last dictator was declared the winner. and an r.p.g. of where all three judges involved in the case targeting a local ngo workers have resigned the defendants sixteen of them americans are accused of cooperating with foreign n.g.o.s in funding the unrest that's shaken the nation for over a year and the judges haven't indicated the exact reasons for pulling out only saying quote they felt uneasy this tackling the process the announcement comes just two days into the trial. all returning to our top

stability the euro has allowed us to share. now of course the economic and the monetary union was a rather daring construction, but a jigsaw where some key pieces were missing when i last was here to deliver the reflections in 2006. as we know, it was both an economic and political project that was meant to complete the european single market. as i think i said on that evening here, the euro is meant to be the cherry on the cake of the single market but many of the problems were coming from the fact that the cherry had been put in that position but the cake wasn't completed their. even in perfect stage of the european real economic integration. now the institutional framework of the economic and the monetary union as being reset to tackle the flow in its design and the operation that the crisis brought. most crucially, the tools to resolve the crisis have been established within the devotee and financial stability fund starting with the european financial stability fund and the future permanent european stability mechanism. the rule book of the stability growth product has been updated and enriched with sharper rules can i inter

unionized medical marijuana workers in san jose's history. the contract providing the employees something they say they did not have before. stability. >> i am so proud. i can take care of myself. i do have a chronic illness, so i'm able to have health care, dental. i can eventually buy into a 401(k). >> local 5 pushing hard for the statewide medical marijuana regulation, control and taxation act. the act would provide statewide regulation for the entire industry. >>> it's 5:50 right now. redwood city could soon join a growing list of bay area cities that ban foam food containers. city council is drafting an ordinance to ban those containers at restaurant and food vendors. officials say the products are not biodegradable and pollute the environment. city plans to reach out to local businesses with alternatives to those foam containers. >>> well, it looks like the raiders hired another bay area college coach. espn reports overnight san jose state quarterback's coach john de sa leapo has taken a state job with the raiders. it will be his second stint with the raiders. he held a position in 2007 and 2008. he joined the spartan staff in

job creation going, stabilize our economy, the president laid out his keller's -- pillars both in the kansas speech and the framework in the state of the union. as you'll see in the details as well as the state of the union, we put a strong focus on manufacturing jobs. we believe manufacturing punches above its way economically. beyond employing 11 million people, it has significant effects on multiples of additional jobs the support and are part of manufacturing. because a 70% of all private sector research and development, 90% of all patents, 60% of all exports. we put in detail some of the things we talked about in the state of the union on incentives for bringing jobs back, removing deductions for shipping jobs overseas. you can see in here today that there is a $6 billion tax incentives over three years to prevent the downward spiral that communities where when there is a massive plant closings, layoffs, or perhaps layoffs that could be related to the military drawdowns, that we are -- have a strategy for those communities to attract new employers, not after they've gone to the downward spiral, the before. this budget will include a $5

stability in the region. it comes after cnn obtained a letter from president ahmadinejad to the european union.n that letter he says iran is ready to resume talks about the nuclear program. former u.s. ambassador to nato is anything glanicholas burns. he's in boston this morning. is this a legitimate offer, do you think? it's a very conciliatory letter. >> well, you know, the iranians have been resisting negotiations for a very long time. and it is in the interest of the u.s. and the europeans to talk with them. we haven't talked to the iranians in 32 years on a stained basis. if they want to talk, if that's one way to resolve this problem, it's far fetched. it's worth offering this offer to negotiate. >> you said it's both far fetched but also we should sit down and talk which sounds contradictory to me. >> no, not at all. we're trying to prevent iran from becoming a nuclear weapons power. use of military force is highly problematic. sanctions, there are sanctions being introduced, central bank sanctions, oil sanctions by the eu to pressure the iranians. at some point before we consider the us

union is fighting the unprecedented permanent removal of the entire school staff. >> you take away the faculty who have done nothing who are being tarred, who are being sigmatized for no reason does not stabilizehis community. lausd is making a tran i can situation worse and traumatising every child in this school. >> about 200 parents and students protested the teachers' removal. >>> up next, she is the new face of jcpenney, but a group of moms want ellen degeneres fired because she's gay. company's ceo is not only standing behind her, is he making big changes at jcpenney to turn the brand around, including no more clearance sales. there's ron johnson right there. he's standing by live next. havs of whole grains... mmmm. ...and a touch of sweetness. you'll be delighted to discover how good they taste. get your free sample of quaker oatmeal squares on facebook. home protector plus, from liberty mutual insurance, where the costs to both repair your home and replace your possessions are covered. and we don't just cut a check for the depreciated value -- we can actually replace your stuff with an exact or near match. plus, if your home is unfit to live in after an incident, we pay for you to stay

unions europe is closed, you get a different personality. >> you can get some stability.e defending seemingly. we're really holding in at around 1339, 1336 or so. >> yes, that's a very good area to watch. they break below 36, it could develop a little short -- >> at the same time a slow march higher on the s&p 500 throughout this year. all of a sudden the vix has started to creep up the past few days and see some reaction in the market. do you think finally there is a concern at this point now that the markets have advanced that perhaps this could be a problem and maybe it's time to just paw and take some profits at this point? >> very good observation. jason goldberg, who was a noted technician, has pointed out when the vix went up for two or three straight days while the market was going up, you went into just what you said, kind of a neutral for a couple weeks. maybe that's where we're headed. >> maybe that is where we're headed. we could get a vote from the greek parliament. how you does that play into today's trading? last weekend was the super bowl, maybe this week

do to get job creation going, stabilize our economy, the president laid out his pillars both in the kansas speech, the framework, the overall pillars in the state of the union, the budget today puts for those details. as you will see in the details as well as state of the union, we put a strong focus on manufacturing jobs. we believe manufacturing punches above its weight economically. beyond implying 11 million people, it has significant effects on multiples of additional jobs that support and are part of manufacturing. it causes 70% of all private- sector r&d, 90% of patents, 60% of exports. so we put in details of the things we stock -- we talked about i instead of the union. bringing jobs back and removing deductions for shipping jobs overseas. you can see today there is a $6 billion tax incentive over three years called the manufacturing communities tax credit. this is to prevent the downward spiral that happens too often in our communities where, when there is a massive plan to closing, layoffs, or layoffs that could be related to the military drawdowns, that we have a strategy for those communities to attract new employers. not after they have gone t

unions. >> the pension freeze that you announced yesterday where you were transitioning 19,000 over to a 401(k), how much does that help you in terms of stabilizingnder-funded for some time, by $22 billion and it increased in the fourth quarter if i'm not mistaken. how much does that help the bottom line? >> one of many steps that's being taken. we've been clear in the last couple of years about our objective. we made a good amount of progress in the summer of this year around the uaw contract. this is one more step. we had strong asset performance in the pension plan over the course of this year. that's helped us a lot. we're taken a lot of step. >> talk about profit margins. 2.9% for the fourth quarter, 5.5% for the full year. you're nowhere close to the 9%, 10% that you would like to achieve to be competitive with the hyundais. >> there's more work to do. we made good progress but we're just beginning to see the benefits and impacts of the actions we've and the. this is a long term gain. we have a lot of actions where they won't bear fruit until we get further out. >> dan ammann, cfo of general motors on a day where they missed the street. it

stabilize and give the new president time to decide what to do. >> it's worth pointing out what's controversial is the way the obama administration executed it, favorism to unions the concept was not obama's. it was the execution the point people are critical of. >> clint eastwood was critical of the idea of using taxpayer dollars to do these things. >> becky, from what i read, he explicitly, and i'm talking about clint eastwood, when they were producing this commercial would not put the words "chrysler" in his own mouth. >> no, he did not and he spoke to us a little bit about that. he gave chrysler big kudos for paying such a huge amount of money, two minutes in the super bowl doesn't come cheaply and gave them kudos for allowing him to rewrite that and just have their logo at the very end of the commercial, that was his thoughts about trying to get america back up and running, didn't have anything to do with politics but didn't have a lot to do with chrysler either. >> joe, i thought you could read it either way, almost a pro-republican ad. you go in the locker room at halftime, it's halftime in america, go out and see it the other way. >> locally or maybe in

need to do to get job creation going, stabilize our economy, the president laid out both iner's -- pillars the kansas speech and the framework in the state of the union. as you'll see in the details as well as the state of the union, we put a strong focus on manufacturing jobs. we believe manufacturing punches above its way economically. beyond employing 11 million people, it has significant effects on multiples of additional jobs the support and are part of manufacturing. because a 70% of all private sector research and development, 90% of all patents, 60% of all exports. we put in detail some of the things we talked about in the state of the union on incentives for bringing jobs back, removing deductions for shipping jobs overseas. you can see in here today that there is a $6 billion tax incentives over three years to prevent the downward spiral that happens too often in our communities where when there is a massive plant closings, layoffs, or perhaps layoffs that could be related to the military drawdowns, that we are -- have a strategy for those communities to attract new employers, not after they've gone to the downward spiral, the before. this

provide accountability and stability and require reporting metrics to ensure that nexgen is making progress. further, we'd require the f.a.a. to work closely with affected unions and the planning, development and deployment of nexgen. i wrote this provision in the bill four years ago, and i'm glad to see it will be enacted into law in this conference report. finally, mr. speaker, despite the flaws that we talked about in the bill, we desperately need a long-term f.a.a. re-authorization bill, and that's why i'm supporting this bill. i thank the ranking member, mr. rahall, chairman mica, chairman petri and other committee members for all of their hard work on this legislation, and i thank the staff on both sides of the aisle that have worked very hard over the past five years to try and bring us to the point that we are today to get a bill on the president's desk. and with that, mr. speaker, i yield back the balance of my time. the speaker pro tempore: the gentleman from west virginia reserves the balance of his time. the gentleman from florida. mr. mica: i yield myself 15 seconds and then i'll yield three minutes to the gentleman from pennsylvania, one of the c

union of the coal mining issue. >> dear muscovites, dear citizens of russia, we have gathered here today to determine our future, that of our children and grandchildren. we need a strong russia. we need stabilitydevelopment. we need prospects. we are a wealthy country and we can be a prosperous russia. all of the ethnic groups that live in russia constitute one single family. we are here today to say that we will not have anybody boss russia around and give us commands and instructions in our own house. we want to live peacefully with our neighboring countries. we can see though that things are not smooth or calm in europe or latin america. countries are being destroyed in the middle east. we all know why it is happening. there is a creeping war for the resources and wealth of nations, especially small and weak nations. we don't want revolutions. we don't want wars. we won't let anybody disrupt our peace. we are a peaceful nation and want peace all over the world. we need a strong russia. we need a strong skilled knowledgeable leader who understands the life of the people. we do have a leader like that. his name is vladmir putin. on behalf of thousands of coal miners, i am calling on you to co