texas's economy booms as the u.s. economy struggles to climb out of the gutter. can the rest of the country steal a page from the lone star state? texas senator kay bailey hutchison joins me next. >>> plus going green in houston, it may be america's capital for oil and gas but now it is moving to become the center of a green energy empire. we're going to explain all that, coming up. do you ever have too much money or too much energy? no way. ♪ melissa: we have some breaking news on news corp. that is the parent company of this network w let's go right to adam shapiro in new york with that. adam. >> this involves james murdoch. "the wall street journal" is reporting that mr. murdoch is going to now oversee fox networks group. essentially the television aspects of news corporation here in the united states. however another publication says while that is true, it does not include the fox news channel. but "wall street journal" reporting that james murdoch will oversee the fox networks group here in the united states. back to melissa in houston. melissa: all right. ad

texas's economy booms as the u.s. economy struggles to climb out of the gutter. can the rest of the country steal a page from the lone star state? texas senator kay bailey hutchison joins me next. >>> plus going green in houston, it may be america's capital for oil and gas but now it is moving to become the center of a green energy empire. we're going to explain all that, coming up. do you ever have too much money or too much energy? no way. ♪ i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] wells fargo. together we'll go far. [ female announcer ] wells fargo. [ female announcer ] some people like to pretend a flood could never

but i live in texas, economy here has over performed as benchmark against the u.s. onomy for last several years, iin 2007 we didn't know about recession for a full year because of the energy production in north texas, it has made a difference here in jobs, and income and disposable income. neil: but congressman, it is uncanny that let's say big swing states, i talk about you know ohio, and florida, and michigan, and wisconsin. where you have republican governors take charge, whether you like them or not, they seem among the most noteworthy state you know, growth. and they are the states in which because they of improving you could make an argument that the incumbent president is benefiting even those the policies -- it is weird. >> i hope people are able to see what the reality is, you are right. neil: so far they are not. they are not -- they might whether he or she is up for reelect, but they are credits the president. >> when election happens in november, they need to vote their pocketbook that is what matters. in texas we're a right-to-work state, no income taxes

what makes texas the strongest economy in the country. number one growth in population. melissa: yeah. >> texans. i'm serious. the difference is that texas has more texans living in texas than any other state. there is difference. melissa: you're humble. >> i'm serious. we're risk-takers. we really, we're risk-takers and we know what we're doing. just take a look at our economy. our business model in which we rate between 45th and 50th among all the states when you look at per capita state spending, per capita on taxes, on the state debt. so we're keeping our spending low and people want to come to texas because this is a good place to invest and create jobs. melissa: he can speaking of which, texas has create ad half a million private sector jobs since 2009. you've cut more than 30,000 state and local government jobs. >> yeah. melissa: would you say that's a victory? other places would say, oh, you cut government jobs. >> no we want to cut government jobs. we want more private sector jobs. over the last three years, texas has created more net new jobs than the rest of th

. >> you have been on and talked about the texas economy how it's not just oil, it's tort reform, it's -- >> it's businesses, services, manufacturing. >> more friendly to business but i just asked you, do you want certainty that taxes are going up, do you want certainties that regulations will become even more heinous or do you want them -- i'm trying to get to you say something. >> here's what you want. >> tell me what you really, really want. >> here's what i'd like to see come out of our legislature, the congress of the united states. >> okay. >> a treatment of our fiscal condition that incents business to take the cheap and abundant money we at the federal have created and hire people. right now there's no unis enive to do that. you have to balance your revenues with your expenditures. that's up to them to decide, that's why they're there. they're elected to collect our money and distribute it, whatever they decide to do according to the american electorate. you can't do it successfully to create jobs. whatever they decide on the tax front and the spending front unless it incents p

this is a preface: the issues here in texas are jobs, the economy, health care, and education.hose the top issues. i also think there is so much rhetoric coming from the obama camp and the democrats. they are employing a rhetoric of division and rhetoric of mistruths that tell the hispanic community these people are the boogieman and that is the problem. as i go through my district, that is 70 percent hispanic, the issues are concern whether their spouse will maintain their job; whether the children will be able to get a good education and find a good job in 9 economy when they grow up; and whether mom and dad will have health care available when they grow old. >>neil: what is interesting, if you look at the shear stats and the minority of unemployment at 14 percent in the african-american community among latino youth or 20 percent, the argument could favor a challenger there if for no other reason to see if the other guy does better. and it is not. it might change. what if mitt romney got it together in addressing the hispanic business leaders? what do they want to hear more o

economy. >>> house of cards. explosives reduces a texas tower to rubble within seconds. >>> and cyber snare. why searching for this "harry potter" star could be hazardous to your computer's health. captions paid for by nbc-universal television >>> hello, and very good morning to you. i'm veronica de la cruz. today we begin with still riding high. days after the democrats' convention ended, a new poll saying president obama enjoying a post-convention boost in popular. 47% favor president obama while 43% prefer his republican rival mitt romney. nbc's brian miller reports. >> reporter: the president of the united states may be considered the most powerful man on earth, but scott van doozen is no slouch. the florida pizza shop owner is a registered republican but a fan of the president, and clearly a really big fan. >> man, are you a power lifter or what? >> reporter: mitt romney opted for a slightly quieter photo on, going to church with his wife ann on a day when the focus was on the economy. >> this is a president that has not been able to

of course we're open for business in houston, texas, where the economy is absolutely booming.it is growing more than 8% in 2011. we wanted to figure out what is in the secret sauce and what is it that is making this economy grow so much faster than the rest of the country. tonight, coming up at 5:00 p.m. on "money with melissa francis" we have senator kay bailey hutchison is joining us. she will talk about the regulatory environment and political environment that fosters this kind of business growth. we'll have rich kinder, ceo of kinder morgan. i don't know when last time i've seen him on television. that is a pretty good get. we'll ask him about oil prices, lori. i will bring you the cowboy boots. you said not pink. how about lime green? lori: you're the fashionista in the crowd. melissa: i will keep thinking. lori: one question if you have a moment? melissa: of course. lori: glut of natural gas, cheaper energy, all this talk, these fears generating about inflation care of the fed. what is the likelihood cheap energy could offset this on a broader scope? melissa: you know, t

two rising stars in texas politics debate the economy, immigration and other issues.ulian castro is the democratic mayor of san antonio and was the keynote speaker at the democratic national convention, and ted cruz is the u.s. candidate for senate -- senate. >> i think you know the drill today. i hope you will enjoy as many of those as you can. if you have phones and you're not going to tweet or instagram, we ask you to turn off your phones. please give our sponsors a hand. [applause] we will visit for about 40 minutes. when we get started, there are phones on either i'll. we ask that of that the microphone at the appropriate -- we ask that you line up at the microphone at the program time than july 31, 2012 began with the announcement that julian caster would be the keynote speaker at the democratic national convention. following in the footsteps of several. before mayor castro had uttered the words menudo " gulf, speculation began. -- menudo cookoff, speculation began. july 31 was a port from which the future of texas and possibly the nation was visible. mayor cast

and more people from texas moving to oklahoma city than have ever been coming north before. we're in a boom time economy the ideas on twitter were cities in texas. but you bested them definitely. looking at the private sector -- sector part of it, chesapeake and others. you know, the universities, oklahoma university, oklahoma state and you of course are a graduate, a sooner. >> i am. we have 120,000 college students that live in our metro area, and i think most of those cities that appeared on your numbers with showing that the best job markets do have strong presentations of college students. by the way, an hour ago i got a call from my city manager, he said, our monthly sales tax check came in. it is the largest in city history. it is 16% ahead of a year ago numbers. that's pretty amazing times. liz: there's a case of taxes actually working in effect with the city. is that tourism? is that a stronger consumer? can you guess that one, mayor? >> well, i think consumer confidence is a big part of it because when people see construction scene there's construction taking -- and there's construction taking

texas, for example, mexico can still be a robust economy. has gone from $57 billion in trade with mexico on an annual basis to i think he billion dollars in about three years. because they are a productive country. arizona have stayed in first year in about eight or made in less than that, $5 billion. so it requires a lot of attention on our part, and the mexican economy will be strong enough that it will provide the opportunities that are now not there and drive young people into the cartel business. finally, about mexico, there are cartels and drugs and violence, because we are the supermarket for drugs. this is where the drugs are being used. this is where they're coming. and we can't ignore the role of american consumption of drugs, and feeding the drug violence and the recently that goes on down along the border. we have to do something about an. >> host: have you ever thought about running for political office? >> guest: no. i'm a journalist. i think that that is an honorable profession that i can already hear people saying wait a minu

coverage, the keynote speaker, the mayor of san antonio, texas, addressed republican charges that the president hasn't done enough to fix the economy, particularly l job creation. >> when you look at where this nation was whether barack obama took office losing 800,000 jobs, n. january of 2009 and he went to work right away so that now you have 29 straight months of private sector job growth, 4.5 million new jobs created, you can tell that he understands what he has to do as a leader to create jobs. even though the progress hasn't been as quick as anybody would like, there's still hard work to do, he understands it. he gets it. he's been working hard to get america back on track and we are making progress. so the other stuff is just a political line. >> be sure to watch msnbc's special coverage of the democratic national convention all day right here on msnbc, the place for politics. >>> as for the secret service, it is investigating the reported theft of copies of mitt romney's income tax returns. these tax documents were alle d allegedly stolen from an accounting office in tennessee. in a letter to romney's accountants asked for

. >> to texas politicians, each touted as the future of their parties, debated the economy, immigration, and other issues at the "texas tribune" festival in austin. julian castro is the mayor of saying antonio and was the keynote speaker at the republican convention. tedthis is one hour. >> i think you know the drill today. i hope you will enjoy as many of those as you can. if you have phones and you're agram,ing to tweet or instr we ask you to turn off your phones. please give our sponsors a hand. [applause] we will visit for about 40 minutes. when we get started, there are phones on either i'll. we ask that of that the microphone at the appropriate -- we ask that you line up at the microphone at the program time than july 31, 2012 began with the announcement that julian caster would be the keynote speaker at the democratic national convention. the footsteps of several. before mayor castro had uttered the words menudo " gulf, speculation began. -- menudo cookoff, speculation began. july 31 was a port from which the future of texas and possibly the nation was visible. mayor castro and m

economy. t reporter: 90 miles southwest of dallas, in aquilla, texas, the drought has cut back ronnie gerik's cotton crop severely this year. f> it impacted not just myself but all the ag industry. >> reporter: in fact, the government now says the drought is slowing the entire economy, costing the country $12 billion in the spring. >> farmers don't have money to spend. they're not going to spend it, you know. and we have a nickel in our pocket, we'll probably go buy a new tractor. >> reporter: but the drought is just one of three headwinds holding back growth. the recession in europe is also eating into american exports, but nothing looms larger than washington's so-called fiscal cliff, the spending cuts and tax hikes that will kick in next year if congress and the administration can't end the rancor and agree on how to handle the deficit. the ratings agency fitch said today uncertainty about u.s. fiscal policy is the single biggest near-term threat to the global recovery. when you see washington act the way it's been acting, does it make you more cautious? hr of course. >> reporter: bayard w

economy, you know that governor. >> eliot: yes. >> he was the same pastor in texas that ran that empty stadium event with rick perry. i prayed that nobody would show up at that event, and it worked. michelle obama tells you to eating habits she is criticized, but this guy is fine telling people to fast. >> eliot: what explains it, then in do think it is going to work? what is the game here? -- why not just kind of brush the whole thing aside, and say okay this didn't work out so well. >> it's about tribalism and who's side has the power, and they would rather have the guy they hate in power who will be a one-term foot rest but have the other guy on the power. it's not really about ideology it's about who has got the ball. >> eliot: that's exactly right. you cannot appease your enemy. >> yes, and the romney folks all saying the polls are weren't saying this when 75% of the republicans were against mitt romney in the primary, but they are now. >> eliot: he is starting to talk about his own record embracing the thing that most people said worked when he was governor which was his own health care bill. >> you know mitt

texas having a pretty good run with their economy. california not so much. a lot of room here for improvement in earnings and a lot of payment of debt too. but again one of the shorts i have a big interest in. liz: remember that is a factor we like to talk about, rti. >> rti is a ohio based company, one of the few ways to play titanium in the u.s. and also around the world. into the aerospace cycle. we think that over the next couple of years will be robust and this is the one of the best ways to play it. >> now i want to get to your double secret stock. >> we like to find companies that are growing in sectors of the economy that don't naturally lend themselves to growth. you don't generally think of the small banks in the u.s. as growth companies but this company has a wonderful little service, all done over the internet, mostly consumer-based right now. but should branch out. liz: 96% jump here. >> it is still cheap. if you look at the stats and book value -- liz: good management? >> terrific management that's doing something that nobody else is doing. liz

cruz's suggestion that the economy is in trouble from -- is in trouble. texas has endured. but san antonio has had a tough couple of years. the census bureau report brought these numbers appeared between 2009 and 2011, unemployment in san antonio went up by more than a full point. needed household income has gone down. you know how tough the economy is. you're leaving a city that has been bearing some of the brunt. can you talk about that? few dispute that the economy is in a world of hurt? whoever's responsibility that is. >> i think every american would say that the economy is not where we wanted to be. but if you look nationally, there is no question that we have had 30 months of private- sector job growth. 4.6 million new jobs that were created during that time. at the same time, if we were to go right now to the archives of the university and pull out the front page headlines from four years ago and look at what was happening at this 0.4 years ago, where we were losing hundreds of thousands of jobs. in the month when president obama took office, we lost almost 800,000

economy. but states from north dakota down to texas over to colorado that are thriving.ou see certainly logistics companies there, manufacturing companies there, transportation companies there, health care, education stocks there, versus all of the inverse for california. so, california is going to cut again if brown doesn't get his tax increase on the wealthiest californians passed in november, he'll cut another $6 billion from the education system, cutting back on prison system -- >> that has implications. >> real life implications. that's what clients are interested in. >> we had alexander labenthal on last week. listen to what shes. >> defaults year to date are up versus last year. put 3.1 billion versus 2 billion last year, year to date. so still relatively small and not the enormous number that has been bandied about in the past. 57% of locality, city, states, are sail saying they're better able to meet their needs this year as opposed to last year. >> what's your take on that? >> i mean, it's an opinion. the facts are that the municipalities have less money today

economy. >> well, there's pessimism in new jersey or texas, but in california, there's unbounded optimism. apple started right here when i was governor, is now biggest corporation in the world. here we have at google. can save on energy. enables people who otherwise couldn't drive to be in that car. it can bring a greater efficiency to the roads because cars can be closer together, as things were perfected. we have automatic pilots for airplanes. we have drones. the technology is always changing, and california is changing with it. >> talk to me about the state of california a little bit. prop 30, we're going to have on the ballot in november. a tax on the wealthiest californians. i think it tops out at 12.3% for individuals making more than a half million dollars. is that going to really helm turn this thing around, or is it growth that's going to have to come and do that? >> well, you've got to have both. and we're getting growth. california the last 12 months has grown 50% faster than in the nation as a whole. so we're coming back, but we got into a big hole here with the mortgage meltd

economy. >>> and take a look at today's weather. showers in florida. thunderstorms for just about all of texas.y from oklahoma city to kansas city, little rock, st. louis, chicago. showers in the southwest. >>> finally this thursday morning, a closer look at the much-anticipated iphone 5. >> it is the thinnest, lightest and fastest iphone ever. it is chock full of cool features. abc news tech editor, joanna stern, tells us her favorites. >> reporter: this is the iphone 5. it was finally announced by apple. let's go through my favorite features of the iphone. the first is the design. it's really seek and thinner. a lot thinner. lighter in hand. and it's got a bigger screen. that's number two, the bigger screen. it has a four-inch screen now, which makes it taller, not wider. it's easier to hold in your hands, still. but you get one extra line of icons here. you get a nice viewing experience when watching movies. my third favorite feature is an lte. i've been waiting for it to get this for a couple years now. that means really fast web browsing. you go to the safari web browser here. that brings

so the regulatory burden is really very expensive for the economy in every you know pretty people's time and so taxation now is not just texas tech sation if your money it's taxation of your time and it's getting greater and greater and greater price now back in the thirty's the nazis looting the jewish folks to finance their occupation in america they need the nazis that run america today or this looting poor people pretty much correct you know to me if you look at how much money is being stolen with asset forfeiture it's a drop in the bucket compared to what's being stolen globally with the debasement so i once did a calculation it's up on the blog of a household of four people how much they had in dollar deposits or feel currency deposit because the same applies globally in many other fields currencies and i looked at how much the household lost from. from debasement of the currency between two thousand and three and two thousand and eight and then calculate it for one hundred thousand. one hundred the population of one hundred thousand and can only guess how much in purchasing power in two thousand and eight dollars a co

state of texas and that will be after i'm back with the headlines in just a. wealthy british style. the global economy

texas and that will be after i'm back with the headlines in just a while. wealthy british style. markets why not. come to. find out what's really happening to the global economy with mike's cancer for a no holds barred look at the global financial headlines tune into cars a report on r g.

. >> next peck texas politicians debate the economy, the deficit on immigration and other issues at the annual texas tradition festival in austin. the democratic mayor of san antonio and the keynote speaker at this year's democratic national convention. ted cruce is the republican candidate for the u.s. senate. he won the primary race by beating the texas lt. governor david dewhurst to read this event runs about an hour. >> i think you know the drill today we have a long day of debates and discussions and the. conversations i hope you will enjoy as many of those as you can troubling the venues and among them you see the great program and we have in store for you today. if you have a phone and you are not going to be trading around not goin this eveg nt please turn them completely off. if you do choose we ask that you we athe hash tag tribune of fast. i want to just acknowledge that the texas natural gas now the university of texas austin and southwest have done a wonderful thing for this community in sponsoring the festival and i like to give them a hand as the resenting sponsors. [appl

economy you really can take it to the democrats. >> jorge ramos, almost certain republican win in texas? >> absolutely. it's a great race. he's 41%. he has the support eof the tea party. some interesting, most latinos the tend vote democratics. but latinos have elected lately all conservative republicans. marco rubio. >> that's going change, a whole generation of democratic. >> quickly around the table. quick prediction who's going to control the senate in january 2013. >> democrat. >> republican. >> democrats, of course i have no idea. very close. >> and i don't know. >> i agree. it's wide open. a little bit more money on democrats over republicans. but not much. >>> back in 60 seconds. some emmy predictions coming up. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. that if you pick three people, odds are they'll a

texas prison in just a. wealthy british style it's a time to. market why not come to. find out what's really happening to the global economy. no holds barred look at the global financial headlines to cause a report on our. lives to. be a series of news to listen with. to see. the facts which. give a special welcome to all the ladies and agents from the n.s.a. c o m i five. because it is all about sickness and how it's spreading from the streets in swat most as we speak. ways of controlling the expanse of business in it to keep us safe we told. her what else you could trust the government if you. got.

economy is recovering. >> 5 million americans either build or sell cars and trucks and workers showing up for the midday shift at gm's plant in arlington, texas, were smiling. >> that's wonderful. i hope they keep going up. everybody here needs to keep working. >> sales growth in august exceeded predictions and led usually cautious company executives like kurt mcneill of gm to crow about their progress. >> when you think about all the jobs that we provide to the u.s. and the supply base, it's incredibly important and it will continue to become more and more important to this great country. >> a small bump in the construction industry fueled pickup sales and it helped move suvs and sedans. with easier financing. cars.com says car makers have recovered from the recession. >> there's no doubt the u.s. industry is in better shape. the entire auto industry is in better shape than four years ago. it's really returning more to the way things were before 2008. >> the u.s. industry is now on pace to sell 14.5 million vehicles this year, 4 million more than their 30-year sales low in 2009. but to get to this point, chrysler and gm had to go through ban

texas. thanks very much. >>> in this tough economy even a full-time job is no guarantee of a roof over yourt a man who works all day, works very, very hard. only to sleep in a parking lot. in communities across the country. whether it's supporting a delaware nonprofit that's providing training and employment opportunities, investing in the revitalization of a neighborhood in the bronx, or providing the financing to help a beloved san diego bakery expand, what's important to communities across the country is important to us. and we're proud to work with all of those who are creating a stronger future for everyone. i'm an expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there. my name is adam frucci and i'm the i love new technology,om. so when i hea

but in 94 days the economy bottomed could drop out when the bush tax rates and and the sequestration spending cuts began. the fast approaching train wreck nobody tries to derail texas congressman ron paul joins me on the phone. no one mentions this. like a storm that is not there. get past the immediate election but then we will be that much deeper in debt. >> it is unbelievable. they are in denial. they're not bad people but they should wake up the people around the country know what i am talking about. but washington wants to keep it quiet. it is a blame game. neil: what do you think will happen? a prominent democrat told me he thinks the three or six month extension then hachette out with whoever is elected obama or mitt romney >> that is a good estimate. once again that buries the problem. but they have not solved any problems. look at last summer they pushed it aside they will. but this is bad economics the market does not suffer from lack of liquidity in the bank's common they are loaded. is lack of confidence. in december they will not do anything. does nothing but add to the uncertainty. neil: you are better than i will be but a lot to do not respond until

. >> two texas politicians, each topped it as the future of their parties, debated the economy, immigration, and other issues at the texas tribune in austin. democrat mayor julian castro was the keynote speaker at this year's democratic national convention. ted cruz is the republican candidate for the u.s. senate. this is an hour. >> i hope you will enjoy as many conversations as you can. if you have phones and are not going to tweet or instagram this event, please turn them off. if you do, please use the has htag #tribunefest. our sponsors have done a wonderful thing for this community sponsoring this fits -- sponsor of this festival. i would like to give them a hand. [applause] there are microphones in the aisles and if you have questions, we have time for about 50 minutes or so. line up at the microphones at the appropriate time. let us get to it. it is my privilege to introduce the guests who are with us because of a single day this summer. july 31, 2012, began with the july 31, 2012, began with the announcement that