and that would require the sf travel to continue to fund the stablization fund throughout the term of the debt. but because we are far out. we have another four or five more years to go. we thought that it was safe to use an assumed interest rate of 6 percent so we can see what the scenarios or what scenarios would result. in addition the ssand the e would be funded from the assessments and not the proceeds from the cods. and the way that we have structured this is the city would collect, we would receive and we would fund that service and all of the buckets that we are proposing here and then the tickets sent over to the med. the idea is that it becomes a lock box that is more secure rather than sending it to them and bringing it back to make those payments. >> just a quick question, how does i guess the two things that i do want to ask in the amendment that we see is the stablization and the sinking fund. how does that work and how do we start putting money into it? >> if you go into the cash flow in the highlights, we show what we did was you see the sources? the construction draws

so, for example, everyone in a stablization room must agree to access the stablization room to agree to have case management as part of it. so it's not simply a room that you get and no strings attached, you have to agree to participate in our case management program and that generally means meeting with your case manager once a week whether it's in the room, whether it's in our office, whether it's in a cafe somewhere, wherever it's convenient and appropriate. on top of that we also have room monitors that by design are other case managers so there is a cross check. so these rooms are things that you don't have tenancy rights to, they are like treatment spaces. so our room monitors will go once a week and check these rooms, 1, it make sure the condition of the room is okay and if the person happens to be there, that the person is okay. but the person is really the responsibility of the case manager and the room is the responsibility of the room monitor. on top of all this, we have connections, we maintain good relations with the hotel owners and the hotel managers because they are t

and then the stablization fund and with the office and the revenue division, they did an analysis showing what in the last decade what the loss has been in terms of the revenue of the loss of the recession and it seemed like the 15 million was an appropriate number to have as a reserve to support the transaction in a term through the event of the revenues that they don't come in as we would expect. so we also negotiated that the city has a discretion to adjust the funds. so you could choose to fund the sunking fund and in the prior year's revenuing to any other. but because it is today and we will not be starting until 2017. we wanted that flexibility and so it is laid out that way and it is not set in stone, we still have the option of changing the other. what is important, until all of these buckets are filled nothing goes back to the med it stays in city and helps to support the project. i think that what is difficult when you have a cash flow issue in the first ten years, and when you after you go passed the ten years, you are going to have surpluses so we are going to try to find a m

. >> there is a stablization fund and the sinking fund and prior deficits. >> the stability fund looks like you funded up to $15 million, sinking fund looks like 25 and 28. and so all of those buckets received funding from excess med assessments. >> correct. >> until they are filled and when they are filled they get put into another bucket which is for a future possibility for expansion and etc.. >> exactly. >> it terms of the areas where we believe that there are potential variances in what we will actually experience, on the cop debt senser is 6 percent, and that could be lower. >> and then on the med expansion, what were you saying about the source theres? >> do you expect the assessments to be higher? or are we using conservative? >> what we have here is more conservative than what is in the management plan. and also we know that the likelihood that the instance in which it is going to drop and come back up, we feel that funding the stablization fund of $15 million we are going to be in a position to weather that. and then in the cash flows in the years, 2019 and 26 or so. those ar

today we have in 8 different private hotels about 250 stablization rooms so the program really expanded. and one of the neat things about these rooms, we don't need to do credit checks, we don't need to do checks about people's legal histories. there are literally places that are so low threshold we can have people get in these rooms off the streets. availability is always an issue but our current case management capacity at any give religion time is about 280 beds. right now we have the number of beds more or less we need to handle the population size we do. the ability to move people instantly off the streets and therefore acknowledge their disabilities can get better day one has been incredible as a physician, as a psychiatrist. one of the things i should mention is the biggest disability issues that we see are psychiatric disability and that includes substance dependence. a lot of the people who are out chronickly homeless are people with substance abuse. personality disorders are a big part. so the disabilities people traditionally think about certainly occur in our populations, bu

which hotel and revenues that are volatile, so the city negotiater will travel that will fund a stablization fund for future losses in all losses in revenues. and the amounts of $15 million and the goal is that as we move that portion of that $15 million it gets replenished and

that is helping the housing market to stablize.g an increase in construction activity for the first time in a while. we saw in these number is a rise in construction and employment. that is an example. we'll stay at this. this is the president's objective. he has proposals to help state and local governments keep more teachers on the job and we have a lot of job losses of teachers for example. there are specific things that congress can do to help create more jobs and to continue to build on the progress we've seen over the last three and a half years. >> one piece of troubling news in here was the issue of the hourly wage number wen down not up. >> in recoveries, wages tend to lag behind. we want to continue building on this progress to strengthen family income and job growth. that will help raise wages and income and extending the middle class tax cuts will help middle class families maintain higher after tax income. >> all right. alan kruger the chairman of the council of economic advisers. thanks for coming on this morning. >>

and water officials say they have stablized the hillside. dan, you can understand why people are anything shuchlts the wet weather on the way. live, monte francis. >>> high wind and waves, caused problems for a surfer this morning. a call went out, went out for help that is. after a pair of surfers wiped out near the cliff house. and one of them was missing. the fire department and coast guard responded. eventually they found the surfer, clinging to rocks nearby. >> the surf was about, 5 foot, 6 foot. the surfer jumped off the rock and swam. he wasn't in serious distress other than losing his board and climbing of on the rocks. once he makes the commitment to climb on rock. basically, a rescue at that point. >> the surfer reportedly only surfed at ocean beach a few times. xachl m >>> police are looking for a man connected to an officer involved shooting in san jose. one of two of men who robbed four businesses at gun point in south san jose last night. spotted the suspect vehicle on 101. after a short pursuit, police say the driver -- pulled

"it should stablize for feed ingredients, for example. that will help people going forward. meanwhile, cotton yields are up 12% from last year. a kink in apple's supply chain is putting pressure on foxconn. foxconn's chief executive admits having a hard time meeting the huge demand of apple's latest products such as the iphone 5 because of the complexity of manufacturing the new items. it's shedding some light on the manufacturing process, according to michael manna, host of the tech talk show "t4 show." "these are becoming more complex devices. they're changing the screws up, they're changing the manufacturing methods, so just when you're used to the iphone 4 and the 4s they throw the 5 in there, then who knows what the 6 is going to look like and what kind of components and how small they're going to be that these workers - these young workers i should add - are going to have to put them together. these people are on very tight constraints as far as how fast they need to manufacture these iphones." supply within u.s. retail stores is reportedly on track. "apple insider" re

know this is just my first year, 4 years, and i'm going gang busters on our financial economy, stablization and financial ideas because that's what we have to do first, is have a good economic foundation in which to grow. for the first time in years you've seen a lot of unity move around this city between business and labor, between the laib and the board of supervisors. we've all come together to tax reform, on housing, on fixing our parks and open space. we've got this year coming together in unprecedented way to put these issues on the ballot before the voters and make sure it's the right time for all of us to be smart, to make long-term investments in housing and in parks and it is time to do tax reform. together we're putting people back to work, building our city at the same time and now the tax structure has to be addressed. a lot of people keep asking me, what is this tax reform? it's kind of complicated. and i tell them it's about real people, real businesses and real jobs. because it is now that we're the only city in the state of california that's got a payroll tax. we're still t

but thanks to foreign buyers coming back in, the housing market has stablized faster than in the rest of florida, and prices are actually on the rise again. that has helped bring up the unemployment rate, while still in south florida above the national average, it has been dropping faster than other places in florid the interstate 4 corridor which runs route through the center of florida through orlando is really key for the election both for turnout of new immigrants for the democrats as well as democrats switching over and voting for the republican ticket for governor romney. >> susan: speaking of immigrants, we've been talking a lot about economic issues, the unemployment rate, housing. how important was immigration for the florida voters? >> extremely important. the only conversation both had on immigration was based here in south florida on spanish tv. you've got a second and third generation families of immigrant here in south florida, newer immigrants are in central florida. they come from different locations, but still latin america, but they have different ideas about how to

hospital bed in the sense that they are provided free of charge, they are provided for treatment and stablization purposes, they are provided as a quick way of getting off the streets. but since there is no payment expected from the client, in fact we don't accept payment for these rooms, you know, we checked with the authorities with the city attorney and this was thought to be, you know, a good legal way of doing it. what it allows us to do is to have that low threshold. we don't need id checks, we don't need checks about people's criminal backgrounds, that sort of thing. it is a bit of a bargain that you make but again most of our folks that are in these rooms do not have an issue and our policy is not to have them leave with any kind of arbitrary timeline. when they get into permanent housing is when they leave. i mentioned it takes 4 or 5 months to get all the documents and all that together. once you apply for housing it can take 2 or 3 months more to get through that process so people stay in these places until they get into their housing. we have not had too many difficulties with this. i

. >> if it does stablize for 24 hours can you comment on whether those drones will continue to fly? >> it will have something to do with intelligence. we won't attack gaza. however, if the launcher will attempt to target us, we'll have to target that launching squad. >> there have been rockets fired how many since the cease fire went into effect? >> five rock ked ets have been . three have landed in israel. >> how do you view that? >> we try to see that this is the beginning of the cease fire. this is why we haven't responded. as i said before, the coming weeks will determine where we are heading. you haven't responded to try to take out where those rockets are fired from. >> in terms of hamas, what does this mean for israel's relationship with hamas? >> first of all, it suffered a harsh blow in this operation. we targets the same manufactured missiles that reached all the way to the tell aviv area. i believe that they were surprised with our intelligence capabilities since many were hidden underground. media buildings had some terrorists in them and so on. so the combination of the

also a picture of a little better stablized europe does not make you a little more bullish?here you would put the cash that we're keeping as dry powder? >> yeah. it does, is does make us more bullish. and so, so as we, as we look at this, it is a definitely a time to shift to the more higher volatile or more risk assets. consumer discretionary type assets, industrials. i believe those are an area where right now they have had some good runs but there is going to be more wind behind those sales. again, not a smooth ride by any means at all t will be a very choppy volatile ride but ultimately, a ride that people, that have a longer time horizon, preretirees, i'm not addressing people in retirement and taking district shuns from their income. liz: sure. >> from their assets but people have some time. now is the time to add a little more risk to the portfolio. liz: i think a smooth ride in the markets is long gone. i don't think we have that anymore. thank you. >> we're not going to see a smooth ride in quite a while to be honest with you. not at all. liz: thanks to both of you.

consumer confidence is up to a five-year high in part because the housing market has been stablizing. so all of a sudden if we see the housing market take another head for the worse we could see consumers pull out of the marketplace and completely derail this recovery. liz: dan, everything that we talk about trying to change here to solve this problem, some group comes out from the sidelines weeping with kleenex about what's going to happen to them and to the economy as a result. whether it's, you know, seniors come out and they talk about, if you raise the tax on dividend, that is what we're living on. everybody has their tale of woe. it is all legitimate. everyone will be hurt but we've got to do something!. >> we have to do something but i don't want to give the government more money to waste. so i'm all in favor of as part of a move to a simple and fair system like a flat tax i'm all in favor of getting rid of the mortgage interest deduction even though i've been taking that deduction for 25 years. we don't want to have politicians trying to tilt the playing field to distort econo

but, i think those, that's north would have a stablizing impact on the financial sector and also potentiallye some revenue. raising guarantee fees on all the mortgages the government is guaranteeing right now. we're still $140 billion in the hole with fannie and freddie. looks like the taxpayers will have to put several billion more into fha. raise those fees we charge the financial sector for guaranteeing all the mortgages to make sure taxpayers get paid back. david: sheila, we'll talk about the federal reserve board with john hilsenrath. >> okay. david: he had a breaking story on that subject just today. you have warned about the fed's low rates. you have warned that it is pushing a lot of fixed income folks in far more riskier bets than they should be in. you warned about that. is that still a concern of yours? >> it is. and i just don't know what the exit strategy is. so i do think when you flood the system with all this liquidity you create the risk of asset bubbles, whether it is bonds, whether agriculture, you know, agriculture land, you create a lot of money that is looking for retur

and far it far more foundly than they think of the current american period, the period of our stablizationctivities there today unfortunately. >> now, haven't there been several starts and stops and boom and busts, hopeful periods in our history with afghanistan? >> there has. you know, this is -- the 50s and 6 os were a period of great optimism, the soviet invasion, and after the taliban were toppled, after the 9/11 attacks, there was a period of great optimism that afghanistan would be able to build a stable, democratic society, but we took our eye off the ball as many americans know focusing on iraq, and that allowed the taliban to surge back in, and unfortunately, i think way we are seeing now is a period of a mixed bag if you will. there's gains paid for by the lives and limbs of many americans, many american service members, and we have beaten back the taliban in places. security has improved, but the question 1 to whether any of that can be sustained, whether the afghan government, army and police force, will be able to take the baton from the american forces as they start coming ho

even the tip of the tail's stablizer was torn off.s designed as a temporary structure until the permanent home is built. >>> presidential candidates are spinning october's job reports. >>> questions for allowing in state tuition rates to undocumented immigrants. we'll break it down. >>> but first here's a look at last night's winning lottery numbers. [ female announcer ] now deliciousness can happen at almost anytime. thanks to new jif chocolate flavored hazelnut spread. ♪ now anytime of the day can be delicious time. ♪ choosy moms choose jif. ♪ yeah... think they made a mistake?s. i don't know - maybe. the fried cheese melt is back for just 4 bucks. 1 of 4 big 4-dollar meals on the 2-4-6-8 value menu. only at denny's. open all night. >> majority of americans, the most crucial issue of this political season has been the economy. the fine jobs report before election day came out yesterday and not surprisingly, with just three days to go, both sides are actively spinning these numbers. sally kidd has the details from washington. >> the

stocks are stablizing at these declines? what are you hearing?> we've seen all down arrows across the board. traders saying we're in this trading range here. we've broken key support levels. the fact we were below the 1400 mark on the s&p 500, whether or not we were closing, below that level, if we were to close below that level, that certainly would not be good news traders said on wall street. also you see financials down. you've seen energy down. coal stocks. you've seen insurers coming under pressure. dividend-paying stocks. all this is obviously that we have taken out uncertainty past four years and we know what to expect. you are seeing reaction here on wall street. i also want to look here at at&t which is on its own, on its own headlines today. just talking about a $14 billion infrastructure plan that they're putting in over the next few years. there will be some layoffs. there will be some consolidation. this is all to make at&t better and faster and high connection activity in a -- connectivity in a fast manner. that is why they are spe

mayor says the demo project is to eliminate blithe and stablize the community. >> time for a check ofecast with lynette. >> you see let's check out what's going on in bel air where we are seeing clouds across the area. but you can see that we will have a few peeks of sunshine as we go throughout the day. we are going to be mainly dry and we are going to be chilly look at what we have right now. temperatures in at 38 degrees. and the cool weather will stick with us as we go throughout the day. we can see the wind and speed direction is going to be picking up from the west at about 5 to 10 miles an hour. and as you head out and about, don't forget the coat. you will need it. high temperatures right around 53 degrees. let's check the abc2 timesaver traffic with lauren cook. good morning. >> reporter: good morning. in addition to the water main break on york road at cold spring lane another one in havre de grace shutting down the westbound lanes at the hatem memorial bridge. 95 or 2 # 22 or route 1 instead. more problems on the beltway where there's an accident on the outer loop at penins

if you look at the chinese data it certainly looks like their economy is stablizing that is good newssecond reason we do like the market is valuation. this kind of gets to your question. on forward-looking basis, s&p 500 sells at about 12 1/2 times earnings. it is only sold below that twice in the past 20 years and that was the summer of 2011 after we had our failed budget deficit negotiations and the reduction in our credit rating, and also in 2008 when we were kind of hitting the great recession, mini depression. melissa: i don't know how you can be optimistic about the u.s. economy. i mean it seems like it is growing very slowly if at all? >> yes, it is growing very slowly but what the market will respond to is changes in it. so we saw second quarter gdp came in at 1.3%. third quarter came in at 2%. that is probably revised higher because of better trade numbers. fourth quarter is going to be impacted by hurricane sandy but we should get that back in the first quarter. so again the further you get away from potentially going into another recession, that is going to be good for the

willing to make big commitments to make sure we're look locking in the kind of deficit reductions that stablize our deficit, start bringing it down, start bringing down our debt. i'm confident we can do it. it's, and look, i've been living with this for a couple of years now. i know the math pretty well and, it's, it really is arithmetic. it is not calculus. there are tough things that have to be done but there is way of doing this that does not hurt middle class families. that does not hurt our seniors. doesn't hurt families with disabled kids. allows us to continue to invest in those things that make us grow like basic research and education, helping young people afford going to college. as we have already heard from some republican commentators, a modest tax increase on the well think is not going to break their backs. they will still be wealthy. and it will not impinge on business investment. zoo we know how to do this. in is matter whether or not we come together and go ahead and say, democrats and republicans we're both going to hold hands and do what is right for the american people and

and it is stablizing, right around that level. that implies that the economy is still weak. and if you look at the other report we received today on private sector job creation, you will see 158,000 new jobs created, but, here's where the intense scrutiny comes in, because that particular report has been reconfigured. it is under new management. they're using a different calculation method. so that number is not suspect but just brand new and different. so what we're left with, martha, is a weak economy that's not producing that many new jobs and an awful lot of layoffs. martha: why is there a new way of calculating this? there has been so much talk in the recent months whether or not these numbers have been massaged a bit ahead of the election. a lot of folks who think there may be something to that, stuart. do you? >> i'm referring to the adp report, which is the private sector new jobs created. it was not a very good indicator in previous months and years. it was judged not to be a great indicator. so they completely reconfigured it, put a different company in charge of t

so i support lifting the tax cap and to stablize health care costs, stabilize medicare costs i am inavor of medicare for all. multiple studies have shown that this is the most cost effective system because it takes the profits that are going right now to the private insurance bureaucracy and the monopoly profits of the pharmaceutical companies and puts them into care. so really if we're concerned about preserving these programs for the people that need them, the working people in central new york, we do need to reform how these programs work. so we need to lift the tax cap on social security and need medicare for all. >> moderator: mr. maffei? maffei: the most important thing to do is we have to make sure that we balance the budget, but do it in the right way, not on the backs of our seniors or the middle class. we should do it the way president clinton did it, ask for shared sacrifice, particularly from millionaires and billionaires who can afford to pay more if they go back to the clinton rates. we should get rid of tax breaks for oil companies. yesterday exxon again showed that th

it says that if you want to stablize the debt the gdp ratio ten years out, you don't need four trillion which is the number that everyone thinks bowles-simpson would entail. you need two trillion, and you can get one trillion of that -- and you can choose to take longer before you stabilize the debt and you stabilize at a higher level of gdp, and is you don't, you don't need as much. deficit reduction. or you can do it faster if you want to pursue the dangerous austerity program. but you get a trillion dollars just from the bush -- over ten years, just from the bush high income tax cuts. we argue very strongly that you definitely need a balanced deficit reduction program, balanced meaning revenues have to play a part, and you don't balance -- you don't stabilize the debt. we're not talking about balancing the budget, we're talking about stabilizing the debt. you don't do that on the backs of low income households. every past major budget deficit agreement we've had has been balanced, and low income programs have been exempted. the 1990 budget agreement when read my lips, george bush did

so what the president has proposed, and bowels simpson is as put us on a path with the debt is stablizedor coming down relative to gdp. >> so be roughly 100% of gdp. you think our economy can sustain 100 percent of gdp. i assume you do? >> no. i would also explain a little bit about the numbers. this $16 trillion figure you mentioned includes debt we owe to ourself. i don't think that's an appropriate way of thinking about. it's measure of debt. it's not the measure of debt i think that is most economically relevant. what is most relevant is the debt owed to the public. >> and that's 10 to 12? >> closer to 12. and you're talking about being on a path 76% of gdp. >> okay. the unemployment rate became an issue in the campaign. the unemployment rate went down below 8% went down to 7.8 and 7.9%. some people said maybe the numbers had been played with by some people. who knows. can you assure people that nothing imbrother happened on the unemployment rate? >> claims there was political manipulation rate on the unemployment rate is absurd. i washed the bureau oflator statistics for a long time