in dallas not really the epicenter of the energy world in texas, i guess you'd say houston is but you're very close to it. a lot of the economy is dependent on it. what are people saying? >> well you know, in dallas and in north texas, we really haven't seen much of an impact of lower oil prices. if you look at the texas economy, it's much more diversified than it was back in the early '80s when we had the big oil bust. and so in dallas, we haven't seen it and anecdotely you hear some things from houston but hasn't had as big of an impact yet. >> well we were speaking a couple of weeks ago here internally we wanted to have somebody on who focused on small cap stocks on the blue chips and here lo and behold we have you on a night that the rustle is at a record high. make the case for small caps this year and i suspect that one of the arguments is that they are less prone to be whip sawed by currency moves. >> yeah. at the funds, we don't get too caught up in the absolute level of market index but with small caps you can always find secular growth opportunities in just any type of market and to your point, they are more domesti

economy. consumers are saving money. if texas slows down will it skew the data enough to make it appear that the american economy is slowing down because texas has contributed such an out sized impasse. put it this way. 8% to 9% of the population 23% of all jobs created in the last six years. >> yeah. i thought it was an absolutely amazing stat that meagan mcgrath, our guest just a moment ago on the housing market in houston, you know how she was predicted that maybe, what housing sales in houston could fall maybe 30% over the next year or so. just looking up stats that she gave us. she says that could be a drag on the national housing market by about 3%. >> that could give a false read or maretive on what is happening with the overall economy. one quick anecdote. everybody rocks. we have a fantastic crew. our camera guy here sold his house in six hours. >> six hours? >> six hours. here in houston. a couple of weeks ago. what was that, joe, a couple of weeks ago? what's that? back in august. so six hours. he sold his house. >> al

so successfully with the -- over the years and because of the strength, diversity of our economy in texas the economy in texas has continued to grow and the people of texas have elected a republican governor, republican lieutenant governor republican senate, republican house. and they embody the will of the people of texas. the minority party in texas, the democrats in the senate, continued to block the will of the people of texas and the new lieutenant governor, dan patrick changed the rules, because the people of texas insisted they wanted to see a government that reflected their will, that would enforce the law, secure the border, preserve peace and prosperity because we all understand that without law enforcement you can't have good schools, safe streets, a strong economy. this is just common sense. the people who live along the rio grande river understand better than anybody in texas that if you don't have a secure border, if you don't enforce the law, the streets aren't safe, you can't have good schools, a strong economy. laredo is the largest inland port in the united states. they

hour we are going to drill down more on the energy crunch what $50 oil may really mean to the texas economyus they say that everything is bigger in texas, so i found three stocks with seconds size returns for your portfolio, and outside of that, what went wrong with the other t? tesla, hitting the skids after reporting a dismal quarter. digging into that ahead. melissa lee joining us from the nasdaq as well and mandy and tyler, back to you in cold new jersey, like 60 degrees here. i'm never leaving. >> we don't feel sorry for you, brian. >> looking forward to it. thanks, brian. >>> while most think about love on valentine's day, we think about the money here on cnbc. financial blunders made by couples happen all too often. what do you and your partner need to watch out for? great to have you with us. sharon, what are the pitfalls here? >> well, a lot of people just don't have conversations about money, and they don't know where they stand or where their partner stands. one of the things that has to happen first is know what you own and know what you owe. each of you. that is all the way bac

he thinks even with texas economy, even with pull back of price of oil is doing well. can we talk you being a little more positive on the economy? >> i like richard fisher. i think he is great, however, he did say that, richer have gotten infinitesimally richer, and middle class is making less money than 13 years ago. without the middle class which is his contention and mine, the economy can not move forward until we bring the middle guys back into play. the middle guys are not happy. they're not getting good jobs. we can rave about a goods jobs number on friday. number one employer in the united states right now is fast-food. those are starter jobs we can not replace. 9400 jobs we lost at schlumberger. we're replacing good jobs with much less paying jobs that barely pay minimum wage. it is not a good formula. although growth is there in the jobs middle class are not -- david: richard fisher started as a busboy at fees food restaurant. putting it out there. it ain't a bad place to start. the problem is when you replace a good job with one of those jobs. i know what you'

brendan: we are looking at real consequences to north dakota's economy in texas' economy, but for the a whole, not nearly as much. "in the loopmaury: that is right, and it comes to the united states still being a net oil importer. if we were energy independent hypothetically, then this would be a redistribution of income within the country from oil producers to oil consumers. we are still a net oil importer. his gasoline prices are down. it has got to be a positive -- tom: can you get to a sustained 3% gdp where more of america feels better? maury: i don't know that you can get to a sustained year-in year-out 3% gdp because our population is not growing, demographics are not there but in terms of coming back and having a good year, it is certainly possible because all of these people are starting to farm households. tom: i want to congratulate you -- when it did was the gloomiest of the gloom, you were having things thrown at you. they through med drew -- they threw them at drew mattis, coffee cups, paper clips, pieces of chalk. brendan: coming up, we all know jon stewart's exits will

when people say the texas economy isn't all oil, the canadian economy isn't all oil but it's still havinge the consumer may spend, that consumer may come out and spend, also remember there are some consumers out there that don't have the cash anymore to spend. >> and the other thing is even though we're seeing rig counts decline and it feels as if production is slowing, it's not really because oil companies are actually diverting their efforts to high producing wells so we're not seeing a slowdown in prodirection that would have a longer standing impact on prices. >> doesn't it feel like everything is normalizing right now? we got down to an incredible low on the 10-year and 30-year in the last few weeks. oil went to those lows. now everything is starting to come back and it feels like we're getting back to our old new normal. >> out on main street cincinnati, ohio as everybody was freaking out that all of a sudden oil prices and gas prices went down. we're going wait a minute when we were high they were told to conserve. now gas is getting cheap, there's no problem. i think this time aro

entire economies arise, new social pressures are created power changes hands. texas has has seen five such migrations. this is the 6th. in each case the migrations to texas created economic, social, political change that reverberated across america and in some cases around the world. taxes may be one of the grade magnets great magnets of mass migration in human history like the current of the strong new river suddenly carved into the earth the 6th migration is delivered 3.6 million people to the state and deposits over a thousand fresh arrivals everyday. in the 70s and 80s the collapse of the industrial rust belt drove the 1st large wave of non- southerners texas and that was the 5th migration. no republican has won the white house in the last quarter-century as a result without texas nor could they earlier in the 20th century oil brought southerners in the 4th migration to create an industry that to this day fuels the modern economies of the world. the 3rd migration the the mass arrival of southerners from the early 19th century led to war, independence expansion of

when you get the synergy that's we're getting in places like texas and then the economy is lifting not just now the western u.s. but we're seeing recovery in the east, it makes a big difference. >> i thought they were trying to pigeon hole you at one point in the conference call. but north carolina florida. florida dot budget. these -- we don't realize there is -- there say boom going on in the south. >> there is a beast of a dot budget in florida. look at it this way. it's a record budget this year. but only 30% of that comes from the fed. there is a state like florida that said we have to control our own destiny here. and that is exactly what they're doing. population inflows into florida north carolina and georgia are huge. four, five years ago, north carolina passed new jersey as the ninth most popular state in the country. it's now number eight. the governor came out with a 25-year transportation vision. that is the type of foundation that we're dealing with in southeastern states. >> we also have to let people know it's not just government budget the nonresidential and residentia

economy. >> in texas. 9 state attorney is explaining where the marriage license issued for two austin women is not valid. yesterday the two women were married in travis county after a judge grant add court order and the judge raised a health condition in the ruling and the 58-year-old has cancer. >> don't know how the amount g has any right to void it, it was issued by the state of texas under order to a judge by a clerk so we will let the courts work it out. we live in a society where this is a rueful law but why thing they will win. >> the texas attorney general plans to present its case to the texas supreme court and texas is 100 of 13 states where same-sex marriage remains outlawed. >>> tonight someone is likely tracking your car and taking photos. >> he said everyone hates the repo man and now they are taking pictures of everyone's cars not just the ones in default. we show you what is being done with all of that information tonight. >> leyla is not tracking your car but she is tracking your commute this morning. >> it makes you want to get on a bicycle, doesn't it? >> it does. it does

texas. california pays its state legislators $95,000 per year. now, all full disclosure they have cut their pay from 113,000 in deference to the weak economy in california. texas pays its legislators $7,200 a year. now, on the provision of public services, i just got to go through this with you. the annual cost of a prisoner held in texas is $21,390, or $58.60 a day. you with me? in california, the equivalent prisoner cost taxpayers $47,421 per year our $129 per day. one mile of highway in texas average cost is a little over $88,000. texas employs 345 full-time equivalent employees in educators for every 10,000 of population. whereas california employs 231 full-time equivalent employees per 10,000 of population. the u.s. average is 286. as measured by the u.s. department of education california student test scores are the fourth worst in the nation and they're the fourth worst in the nation that's true but that's their best performance in the last 25 years. california usually is the second low nest the nation, only being beaten by mississippi or louisiana, once by new mexico. now they're fourth worst in the nation. texas is 29th highest in the nation. t

great for the consumer, about $750-$800 per household in their pocket, but there are several economies like texasguess it's a net plus overall, but it's not a big wind to our back. and the strength of the dollar is going to hurt the translation of multi-national corporations, puts a drag on s&p 500 earnings. liz: i want to look at your barron's round table picks before you get to your fox business picks today because, honestly, scott, four out of five of them are absolutely killers. they're just stanley cuppers, and can -- stunners, and people might prick up their ears and say, wait a minute, let me hear what he's going to say. you picked activist, up 40%. sandisk, 36% gain. you see express scripts, the only loser was bonanza creek energy. energy stocks have been touch and go, down 45%. are you still holding on to bonanza creek? >> no, we sold it. 0% weighting. there's a glut. roughly if you look at the data, there's 93 million barrels a day of production depending upon seasonality in the united states, the overall demand between 91.5 and 92 million barrels a day, and the saudis aren't going to p

georgetown texas near austin, marsha farney of georgetown to not only increase funding by $300 million, but improve curriculum teacher training and lower student-teacher ratios. in this global economy we live today and tomorrow, students won't be competing for jobs in the workplace of neighboring states but we'll be competing with kids and students from all over the world. mr. speaker, let's do this for texas. let's do the right thing. let's help these children and i yield back my time. thank you. the speaker pro tempore: the gentleman's time has expired. pursuant to clause 12-a of rule 1, the chair declares the house in rec

he had a great story to tell in texas where the economy was doing really, rel well as the national economy was faultering. this time around there's other governors in the race. bush, scott walker and he's out of office. it's going to be hard tore find a path in. es especially from the baggage of 2012 and the federal indictment hanging over his head. >> let's talk about the democratingsesdemocrat democrats democrats. >> so far quiet in hillary clinton land. she's has a speech in san francisco coming up to a tech conference, but there's a lot of activity going on underneath the surface where she's been hiring a staff, prepare inging for a run. i think we're still looking at an april announcement of some kind. this could be an exploratory committee or could be a pack. she needs a vehicle where she could start raising money, bringing in contributions and hiring staff. she might wait until later until july to fully go. out on the road making lots of stops in new hampshire and iowa, fully campaigning. she has plenty of time and that's a luxury for her. she's going to take as much time as she nee

texas alone. they're a more diversified economy than they once were with high-tech and oil but oil will hold backnd slow down employment gains. flip side, places where there is more leisure and hospitality more discretionary spending the south like florida gaining momentum with the low-wage jobs and jobs coming back in business services and finance as well. >> brown: even with all of the gains, there are still so many people out of the job market. what other kinds of concerns keep you awake at night or on the forecast here? >> certainly we have a nice tailwind going into 2015 with the upward revisions in november and december and that's good because that's more paychecks to cushion us and buffer head winds coming our way, but head winds are out there. we have a strong dollar and weak growth abroad and a lot of turbulence that could come from abroad and we don't want those tremors to come up as tidal waves on our own shores. i think our shores are better fortified as they once were and we can better handle the waves coming in but the waves are still out there from abroad. the eurozone is trying to

property owners and hosts but not all startups in the so-called sharing economy are very happy.this new law. there is an austin texas, based company called home away that filed a lawsuit against the city saying the law favors the air b & b model. the lawsuit was tossed out by a federal judge last month. reporting live, sergio quintana abc7 news. >> thank you. ed a midnight, all work will stop at an oil refinery in martinez. union workers at the tesoro refinery will take part in a nationwide work stoppage involving a total of nine refine riz. contract talks are underway. major sticking points include heavy overtime, unsafe staffing and dangerous working conditions. >>> starting tomorrow, teachers at a bay area elementary school will not work past school hours. it's called working to rule. the unionized teaching staff at cleveland elementary school? oakland will not stay after school to grade papers or prepare lessons. they're joining other oakland teachers who plan to too this until a new contract is in place guaranteeing smaller class sizes and better pay. the teachers will match on to campus together before school

property owners and hosts but not all startups in the so-called sharing economy are very happy.this new law. there is an austin texas, based company called home away that filed a lawsuit against the city saying the law favors the air b & b model. the lawsuit was tossed out by a federal judge last month. reporting live, sergio quintana abc7 news. >> thank you. ed a midnight, all work will stop at an oil refinery in martinez. union workers at the tesoro refinery will take part in a nationwide work stoppage involving a total of nine refine riz. contract talks are underway. major sticking points include heavy overtime, unsafe staffing and dangerous working conditions. >>> starting tomorrow, teachers at a bay area elementary school will not work past school hours. it's called working to rule. the unionized teaching staff at cleveland elementary school? oakland will not stay after school to grade papers or prepare lessons. they're joining other oakland teachers who plan to too this until a new contract is in place guaranteeing smaller class sizes and better pay. the teachers will match on to campus together before school

texas. i left with 3% unemployment rate. our economy grew by like 3.9% when the rest of the country grew at 2.6%. we reformed our education system. not just the fight that mattered. we have led the country in rising student achievement. kids in poverty are the leaders in florida outperforming all of their peers in most of the category in other places. florida is a place where conservative principles have helped everybody. we eliminated affirmative action. i know there are people that come here to talk about the coverage of courage of their efforts. we had a system where there are more african-american and hispanic kids attending our university systems prior than to the system that was sdrimdiskrim torre. i left the state with $9.5 billion of reserves. we did veto 2,500 line item in the budget totaling $2 billion. we left $9 billion plus of cash for a rainy day and had the financial meltdown. conservatives need to cut taxes so more revenue comes in people's pockets. >> you think you can lower taxes with $18.1 trillion in debt? >> you can

texas. tom: is this a 3% economy? >> 3% or more. they are little symptoms of what is going on in a broader economy. most of the wage pressure we are seeing, that is where the action is. brendan: there was an article about a different kind of slack in wages. they are hyper managing hours. is that another slack we can expect to disappear? >> technology makes it easy. people do not like it. people who are working for these companies do not like it. brendan: they will get a notice that says the weather is bad expect low volume, go home. tom: let's continue this discussion. francesco was on london tv about an hour ago. that was a terrific conversation. brendan: the next conversation bayer reports results. we are going to talk to their ceo. this is "bloomberg surveillance." ♪ tom: let's get to our top headlines this morning. olivia: second day on capitol hill. jenny yelling got testy. she fired back at critics who say she is too chummy with the white house. some want to give congress more power over the feds. in an interview, greece's fin

coming up on "power lunch" brian sullivan is in texas drilling down on oil price and the economy.at the rig count is on that. i'm bertha coombs, back to "squawk alley." >>> thanks so much, bertha. in a few hours re/code's coextuv editor kara swisher will sit down with president obama at the cyber security summit. she joins us from stanford university. good to talk to you again. >> good to see you. >> the avevaters are out. i assume you keep them on for the interview? >> i don't think so. i have a little respect for the president, not you guys. >> that's always the question before a big interview. what do you hope to get? >> well, you know, i think i would like him to talk pretty plainly about his success or failures in the technology area, his relationship with silicon valley, net neutrality, issues around privacy and, you know, a little bit about his own personal thoughts on technology and where it's going from ai to, you know, the use of selfie sticks. >> kara, same question we were talking about earlier, almost so many different elements of security i'm not sure how you focus o

income tax like alaska where oil revenues are down and in texas where you have one in four texans that are uninsured they have problems when the economy gets hurt from oil and things like that. so an thk tax might bring hope nor dee difficult ability to budgeting. >> generally speaking, emac the states that have lower taxes are healthier. >> they are healthier. by the way, in alaska you can't move an oil well, with you you sure can who have your business which is what happened to l.a. l.a. had high taxes and regulations, lost two dozen can companies to low tax areas like texas, that he is why their unemployment rate trimmed the national average. >> california that has the highest taxes in the nation but does have places like silicon valley doing very well. >> silicon valley and hollywood are two rich to care where the income tax really hits is the muath al kaseasbeh middle class and small business owners and that's why you see them fleeing to washington, nevada and texas. >> so john the high end folks do very well whether silicon valley or hollywood,+hr7 but the middle class and the small businesses are getting really crushed here. >>

texas. >> the federal government does not have many deployable resources. the army does a variety of things. they are discoverers they are explorers. army contracts were an important part of the western economy. the army plays a role in conservation. in the recent can burn's series on the development of american national parks it points out that he parks were established in the 19th century but there was no one to protect them or preserve them or keep as -- trespassers away. the army, because of the efforts of general sheridan, steps in and literally saves the national parks until another organization can be created. for better or for worse, the army did more than fight indians. the american people have historically had an antipathy of the regular army from our english and revolutionary war traditions. we fear a standing army as antithetical to liberty. it is hard for modern observers to realize. now, the military is one of the most trusted institutions in the united states but that was not the case in the 19th century. >> watch our events from corpus christi today at 2:00 p.m. eastern on american history tv on c-span3. >> the korean war veterans digital memorial is an online archive of the

texas employment? the u.s. is -- it's a d.o.s. number. >> yeah here's a factoid for you. last year u.s. economy created 3 million jobs. one created 123,000. >> are you going to ga him about the gallup? i send this to jack yesterday. >> from the gallup. >> big lie, 5.6% unemployment. >> that's the whole thing. but why is it a lie? all of the other data -- >> i'm asking you that. >> all of the other data in his article comes from the government. we reported. the fed knows about it. it's not like there's a big secret. >> but u-6, u-6 reflects that premise. >> but from an investment standpoint, i think people are looking at this sick ways to sunday. there's no added information in terms of the trajectory of jobs or the slack just looking at the other numbers as well. because they're all coming down pretty much in line with the way the unemployment rate goes. >> but there's a lot of slack, right? >> yeah. >> and that's why the wage is out. >> jack what should the fed do then? do you think the fed ought to take that slack in consideration and not raise rates here? that's the conundrum they're dealing with. >> i think it's cr

don't miss a power lunch cnbc.com live from texas talking about the impact of the price of oil to that economyhere. he's coming up right after "halftime" at 1:00 eastern time. all right. lower oil prices, come lower gas prices and you know what needs a lot of gas, boats. my father calls them big holes in the water in to which you pour money. the big business is making a comeback and morgan brennan is out on the water in miami. lucky dog with one of the industry leaders. morgan? >> hi, michele. so we're in seattle marina sitting on a boston whaler, 37 foot, 370 model the manufacturer is brunswick corporation and joining us now is brunswick's ceo. dusty mccoy. thanks for joining us. >> thanks for having me. >> so everybody that i've spoken to says we've gotten down here to the miami boat show says boat sales are back and, in fact, that's a really big deal because we saw new boat sales fall about 60% in the recession. >> we did. >> and with your company we've seen an increase in the last earnings, 23% in your boat segment. who's buying these boats? >> two different groups. the top end of the mark

has been enormous, arguely the state of texas weathered the recession that every other state suffered under the weight of in large part because the energy economy here was kind of ain't insulation, right, against many of the outside forces that affected a lot of other states, the economic benefit is there, there are always questions about water, there are questions about whether emissions, air pollution is problematic in communities, maybe more problematic than the typical kind of air pollution that we encounter, there's the tearing up of the roads which you alluded to, whether north dakota or pennsylvania or here, how our community is suffering and who is paying cost to repair those things. there's a good and a bad. talk about the bad. >> i will. what i wanted to point out is you can have a perfectly -- you can have a booming economy based on energy without giving a thought to the environment and to the community. >> right. >> or you can completely protect the environment and community and your economy is going to suffer, so the real question is how do you find that middle ground. >> where is the middle point. >> exactly. and one of the things

texas employee is under organization after bit by a monkey. he entered the bank wearing a blue t-shirt and baby diaper. louie got free and bit the bank economybody. the monkey is undergoing testing and the owner was cited and find. >> a woman from new castle county has the first confirmed case of measels in delaware since 2012. she was never vaccinated and cracked the virus overseas. health officials at the super bowl were on alert for anyone with signs of disease. arizona has nine confirmed cases. the head of disease control said not vaccinating your kids impacts entire communities. >> maybe people think measels are not around anywhere, but meals are around, the more kids are not vaccinated, the more they are at risk and they put their neighbors at risk, as well. >> >>> it's 5:57 we continue to track a wintry mix this morning. >> and what is doing to the roads, here's a live look at i-95. meteorologist david murphy is recharging storm tracker 6 live, we'll have the latest on the storm next. good morning everyone, 6:00 a.m., monday, several schools are closing or opening on a delay the list is at 6abc.com and the bottom of screen. >> accuwea

texas. water's just the foundation of all the economy in this country. >> i know i'm over time. >> way over time. >> we talk a little slower. >> chair now recognizes the gentleman from pennsylvania mr. murphy for five minutes. >> thank you. i'll talk a little fast, see what i can get in. this is for mr. zellman or mr. newman. thank you all for being here. very informative panel. engineers who serve in some of these rural water systems in my district, for example, in green county in southwestern ben pen, very rural area, but they tell me that states oftentimes impose their own drinking water requirements which are far more strict than the epa standards set forth in the drinking water act. could you please provide some examples for some of these state-imposed requirements you've seen in your community or other communities go beyond or differ from the epa standards? >> in mississippi, and mr. selman can elaborate on this or correct me if i'm wrong, but i believe that mississippi that our state regulations are exactly the same as the federal guidelines being no more or no less stringent than th

texas. now, wisconsin governor and potential republican candidate scott walker, speaks at the american action form on jobs and the economyernor walker has formed a committee to raise money. his remarks are 45 minutes. >> bochum, everyone. i am president of the american action form. i'm delighted that everyone is here for the first of the fred malek lecture series. fred founded the american action form. we turn five in january. it seemed appropriate to recognize his contributions and a lasting way. we have named this lecture series after fred, our founding chairman of the board. it will convene roughly every two months and is dedicated to effective of the policy. it shares the spirit of the american action forum that tax on the ground are important, but less those turn into effect a policy, it is not enough. we are pleased today to open this year's -- the lecture series. we are pleased to have fred here. [applause] >> i'

texas. the savings from a tax break won't trickle out into the economy, normally for at least a year until consumerse it will stay. the big question will be how much of all that money that was raised in the u.s. will keep deploying. it was on quite a momentum. guy: if there is a desire to get the cap down in the states where is the line for the price at which we are uneconomic? if we get to $70 and a lot of these rigs are uneconomic, we are in for a longer term gain. what is the view on this? guest: obviously, it is not consistent across the u.s. but what is different with the shale oil -- a lot of expectations that below $60 a barrel a lot of production is uneconomic. what does that mean for shale oil? it is very easy to sort of react with the world on and off depending on the price. it is more like manufacturing than traditional oil and gas. you get big declines of 70% to 90% of those wells within a year. the market can react and adjust. from the middle east's point of view, it is punching below its weight. we have half the world's oil and gas in the region and less than one third of oil productio

texas because we have great weather in august. those are the four things, that is the foundation of the economy. it's really simple. the heart part is finding men and women who have the kurds to implement the policies. over the course that i was the governor of texas, we put attack and regulatory policy let me share what the results of the policy are. put it in terms where people can really understand. this is what is the result of good policy. we talk about tort reform. we codified it in our constitution, so that future generations with no the predictability and stability would be there on the tour and regulatory site. today, there are more than 35,000 licensed physicians. more than there was in 2003. a lot of that is due to tour reform. they knew they would not be sued frivolously. the results is that access to health care -- if you are a pregnant female along the rio grande you probably had to leave your county to find pre-new -- prenatal care. but no longer. if your child fell off a bicycle and had a closed head injury, you probably had to take the child hundreds of miles to find a neurosurgeon. no longer. the s

texas, alaska. the states either have or are trying to build a strong energy economies. the last great example of how it can backfire the decline in oil prices is about half of what it used to be. consumers can spend that money elsewhere. for a handful of states, especially alaska were 90% of their general fund comes from gas taxes, it has put -- they were planning to spend $6.5 billion this year. there are $3 billion short of that. the have reserve funds. if those low prices are sustained, it will be a big issue for them. host: kathy from california up next. caller: i was wondering if you could give us information about the -- i'm sure gary brown is concerned about that. -- jerry brown is concerned about that. -- host: that affects the states who want to put -- from chicago rudolph. good morning. caller: good morning. this seems the united states department of justice does such a great job in attacking these things. >> now we are getting there. this is actually pretty good for us on a saturday morning. welcome. great to see so many friends who i have not had a chance to

texas. >> the federal government does not have many deployable resources. the army does a variety of things. they are discoverers they are explorers. army contracts were an important part of the western economy. the army plays a role in conservation. in the recent can burn's series on the development of american national parks it points out that he parks were established in the 19th century but there was no one to protect them or preserve them or keep as

texas could lose 140,000 direct and indirect energy jobs by mid- year. sexton just found a new job outside the oil industry. she hopes it won't be impacted by the region's slowing economy for the sake of her son, evan. >> i want him to be able to live comfortably and not have to worry about anything, and i don't want him to see me stressed. >> reporter: just a few miles from sexton's home, these rigs have been idle, and a federal agency predicts the world's oil supplies will continue to grow keeping prices low. manuel bojorquez, cbs news midland, texas. >> pelley: in a surprise tonight, house speaker john boehner lost a vote to keep the department of homeland security funded past midnight. several republicans abandoned the speaker because they want to use the bill to nullify president obama's plan to allow millions of illegal immigrants to stay in the country. homeland security includes customs and immigration, the coast guard, secret service and the t.s.a, but even if funding runs out, it will not shut down. about 85% of its employees are required to report to work whether they get a check or not. the family feud in the republican party also spilled out at the right's

texas-based company, southwestern energy, licenses to explore for shale gas - in exchange for investment worth 47 million dollars. if shale gas extraction goes ahead, it will be a boon to new brunswick's struggling economy. the province anticipates it could generate over a thousand jobs and 1.5 billion dollars staunching the exodus of workers west to alberta's oil sands. >> to have that kind of revenue inflow and that kind of potential, it would have a dramatic impact on the province. in fact, on the studies we looked at just a few weeks ago indicates that shale gas development could actually double the economic growth rates in the province. >> three years later these were the images from new brunswick flashing across canadian television screens. royal canadian mounted police guns trained on first nations people, police cars sent up in flames. >> we seized a number of firearms from the encampments at the protest site. we also found explosive devices, a large amount of ammunition knives, and bear spray. several shots were fired from within the encampment. molotov style explosives were thrown at police, and six rcmp vehicles were destroyed by fire. >> fault lines has traveled to the province of new brunsw

to their core customer and, again, who drive a longer distance in texas and california, but, you know versus most states in the economy to see more benefit to their pocketbook and will use that at the lower end restaurants more often. >> bobby, take a look at a stock like a jack in the box, and that has been on fire for years now. what is it doing right that mcdonald's totally missed the boat on? why is the fast food you know outlet that starts with an m, why is it under such dur eswhen it has the scale to change the landscape? >> yeah. that's fair. and what i would say, melissa, is that if you look at the way they market their business the way they've connected with their core customer for example, jack in the box just introduced a burger which in my opinion skews more towards a quality of product that is popular with a little bit higher income consumer. it's more relevant to their user base. it helps the check average. and in my view it's the best burger they've introduced in literally 30 years. it's understanding your consumer and figuring out how to market to them and what products they're interested in. >> lower

texas alaska. they are trying to build energy-based economies. it can backfire.a is a great example of how it can backfire. right now, broadly speaking, the decline in oil prices is half of what used to be in june. it is good. that means lower oil prices mean lower gas prices. for a handful of states where 90% of their general fund revenue comes gas taxes, it has put the squeeze on alaska. they were planning to spend $6.5 billion this year. they are $3.5 billion short of that. the state has many billion dollars in reserve funds if those oil prices are sustained it will be a big issue for them. pedro: kathy is up next from california. caller: i was wondering if you could give us information about the high speed rail in california. i am sure jerry brown is concerned about that. niraj: i am not familiar with exactly where it stands. i think the argument is an economic one he is making. he is hoping to connect los angeles to san francisco in the central valley. -- and the central valley. i cannot give you more information, i am sorry. pedro: the president possible bu

economy. it is pretty simple. the hard part is finding men and women who have the courage to over the course of that decade plus that had the privilege of being governor of texas, we put tax policy, regulatory policy, we passed the most sweeping reform in the nation. let me share with you what the result of the policies were. put it into terms where people can really understand. this is what is the result of good policy. we talk about that reform. we codified it in our constitution so that future generations would know that stability and the predictability would be there, particularly on the regulatory side. today, there are more than 35,000 licensed physicians, more than there were in 2003. 35,000 more licensed physicians in the state of texas. a lot of that is due to be tort reforms. they knew that they would not be sued for the slave. the -- sued frivolously. if you're pregnant female along the rio grande but 1200 miles from el paso to brownsville, you probably leave your county to find prenatal care. no longer. if you live in the rio grande valley and your child selloff a bicycle and had a head injury you probably had to take the child hundreds of miles to

economy. as you know it has massive stimulus effects but also potentially in terms of energy production in north dakota or texas. do you have any idea what it is doing to economic growth in texas? >> i think so. >> are there any hard numbers? obviously it has huge systemic effects but the nice thing about the california program is they have created a shock absorber mechanism. if you cell fuhrer electric vehicles that mandate is still in place and that means the price of the credit of electric vehicles goes up and that creates an incentive for automakers to lower their prices or do whatever is they have to do so they don't have to buy expensive credits from someone else, they have to -- the critical thing is i don't see the california retreating on that. it will have some effect but the truth is the equilibrium mechanism. >> let's open up for questions. i believe there are microphones right there. the first thing i saw was way in the back you got to use the microphones. >> this is a researcher, maybe few years ago i heard we were trying to define what is an electric car and general motors said the volt is an ele

economy. oil is at the center of it. currently at about $50 a barrel or west texas intermediate. who wins and how should you play it?enior port folio manager at white box advisor. paul thank you for joining us. we have been talking about the winners of cheap oil as consumers as americans who pay less at the pump. as far as investors, a lot of people have been heading for the hills. how do you make money in this space? paul: we are looking at this at one side, you have the consumer getting healthy. consumer confidence is strong employment figures that are very good, housing data is ok. on one hand, the strong consumer getting healthy pb on the other side, we had the industrial sector facing serious headwinds. those headwinds are big. capital spending decline, all those things. it will be a lot of activity between those two sectors. stephanie: how do consumer products companies defend themselves against the strong dollar issue? paul: it will be a big issue. it is more than that. it is the competitive pressures that we benefited from the last few years as the dollar was weakening. they could charge a little bit more. h

texas was hit hard. it was a double whammy. not just a single whammy. the rest of the economy is quite strong.hink taxes will be as bad off as it was back in the 1980s. >> let's check the big board right now. the dow jones industrials still up. profits are falling at ups. downbeat forecast. ups down half a% on that news. energy stocks rising along with oil. here are the drillers. staples and office depot making another go at a merger. here are shares of both companies. both stocks hitting new high. ten year treasuries announcing back a little bit. look at those interest rates. the justice department a billion-dollar settlement. liz has been looking at this. i was talking to george earlier. >> it is such an interesting story. it is a lot of money. split between the department of justice. the back story to this is pretty riveting when you read the affidavits and the legal documents. they move beyond a blood feud between s&p and the u.s. government. they made a historic downgrade of the u.s. in the summer of 2011. timothy geithner called him to complain about this. the contacts will be looked at

host: former texas governor rick perry spoke about the issue of the economy and unemployment at seatacc on friday. [video clip] >> it's no surprise that one out of 10 children are -- one out of five children are on food is because one out of 10 americans are unemployed, underemployed, or just stopped looking for work . i want to say this clearly -- the unemployment rate is a sham. it leaves millions of american workers uncounted. [applause] if the republican party does not take a stand for these uncounted americans, who will? [applause] the answer is not to expand the welfare state. it is to build the freedom state, and i happen to know it can happen because we did it in my home state. and our formula was simple -- you control the taxes and the spending you provide smart regulation, you develop an educated workforce and you stop lawsuit abuse at the courthouse. host: your thoughts about his ideas yucca guest: i thought rick perry did an excellent job. i really think of all the potential nominees that came, he did an excellent job of speaking and of answering the question. one of the th

storm that hit texas knocked out power to thousands of people and led to hundreds of traffic accidents and caused 1300 flight cancellations nationwide. here is another indicator the economys improving. the foote fairy left behind $255 million last year. what was the average gift? $4.36. that's up from $3.50 in 2013. scott, i don't know about you, but i got a quarter when i was little from the toot fafoote fa. . you and me, both. >> coming up, a billion here, a billion there. goldman sachs estimating their legal deal to $3 billion? up next, predicting oil prices to double by the first half of the year? the commodity trader who is dos that, is up next. and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsa