government taking bigger, bigger ownership interests, bigger and bigger ownership stakes in the american economy and further dictating the decisions, the day-to-day decisions which american businesses make that are designed to grow their companies, to get a better return for their shareholders, to become more profitable, to make america more prosperous, to raise our standard of living, to deliver more benefits to their employees. all these things that have driven this economy and made it the envy of the world. i just don't think that we want to go down a path or stay down a path that gets us deeper and deeper into ownership of the private economy. so, mr. president, i'm going to be in the next day here, introducing a piece of legislation which we will be introducing and filing tomorrow which addresses this issue and which provides an exit strategy for the government, for the federal government for the taxpayers to begin to get out of all these ownership interests that they have in the american economy. and i'll be -- have the opportunity to talk here on the floor more about that at a later time.

per year which means the american industrial output is only larger than the combined output of china and japan and it is utterly vital to understand the scale of the american economy. to begin to measure american power. is extremely important to understand that i will not call it orders of magnitude greater but the power of the united continent native to atlantic and pacific is extraordinarily more powerful than those of other countries and add to the fact never before in human history has a single power controlled all of the sea lanes in the world. the united states navy may not be everywhere, but it can be anywhere. and no other naval force no matter how combined if these are all of the world's navy against the u.s. navy it does not begin to measure up which means if you are in the arabian sea, if you are in a the south china sea, mature in a cabin cruiser in the caribbean, you are under the surveillance of american space in based systems and liable to interception by the u.s. navy part of this has two obvious outcomes that are very important. we get to invade other people, they don't get to invade us. that is not a trivial advantage if you have ever been invade

successful reform is fundamental to the long run help of the american economy. thank you. >> thank you for the study of the council did and for your testimony. i would like to return to reduce the a concept levels -- the idea is that the president has put on the tables twice. that is that there are internal savings and cost cutting that need to be made within how we deliver medicine today, how we deliver health care today. you'd said it is 18% of gross domestic product. when it be said that in your statements. i think that is much higher than almost every other nation, in terms of what we are spending. we are also settled with their health status is not much better. in many indicators, it is worse than nations to spend less. the president has suggested, six under billion dollars in cost- cutting changes and savings and need to take place. some of those will not be adopted by the congress, but they all reflect the understanding that if the current system were paying for utilization, the more you use the more you are getting reimbursed -- wherever you are -- whatev

down the throats of the american people, this cap and tax, tax and cap as i call it, cap and trade legislation, the waxman-markey bill. it's going to be disastrous for the american economy. it's going to be disastrous for american workers, and it's going to be disastrous for the poor and those who are limited incomes. why do i say that? well, i say that because every single person in this country utilizes energy. every single person when they flip on their light switch, their electric bill's going up. every single person in this country is dependent upon gasoline and diesel fuel. why? even if they use public transportation, it's gasoline and diesel fuel that motivates america. but it's more than that. groceries don't grow in the grocery store. grocery prices are going to go up marketedly because of this tax and cap legislation. every single good and service in this country is going to go up because of this tax and cap legislation. now, i'm a conservationist. i followed in the conservation movement for a long time. we have to be good stewards of our environment and there's no question. i want clean air and clean water just as much as the most environmentalist in this cou

coast, every state has an economic stake in the tourism industry, which is now a major part of the american economy. throughout the united states, many communities have discovered and developed economic potential. i keep using the example of duluth because at some point in the 1970's, the economy was so bad there, they actual had a billboard so that when you drove out of town, it said, "the last one to leave, please turn off the lights." well, that billbored isn't there anymore, as -- billbored isn't there anymore, as tourism is a beautiful part of their economy, with beautiful lake superior, beautiful museums and aquarium, children's museum and it's really changed the life of that town. tourism creates good jobs that can't be outsourced. one out of every eight americans is employed in our travel economy. each year, travel and tourism contribute approximately $1.3 trillion to the american economy and international visitors, as senator dorgan just noted, spend an average of $4,500 per person. in economic terms, international tourism to the u.s. counts as an export. instead of shipping our product to

economies. as i said, one out of every eight americans is employed by our travel economy. each year, travel and tourism contribute approximately $1.3 trillion to the american economy. the travel economy contributes $115 billion in tax revenue in state and federal governments and last year, travel and tourism exports, which means the people coming into our country to enjoy our beautiful country, that accounted for 8% of all u.s. exports. in fact, tourism, madam president, is one of the few economic sectors where we enjoy a substantial trade surplus. but things are not going as well as they could or they should, especially when it comes to bringing international travel to the united states. i know you know that, madam president, coming from the state of new york. i see the senator from michigan here with their recent ad campaign enjoying pure michigan. but we need to bring more peop people, more people to this country. now, what does this mean, what's the problem then? well, as you can see, more people around the world are traveling. there were 48 million more global overseas travelers in 2008 than there were in 2000. 633,000 fewer visited the unite

you can't take one-sixth of the american economy and work on a partisan basis. now, there are those at the white house who want to do that. there are some on the democrat side who want to do that. and, frankly, i'm just grateful that the distinguished senator from oregon is not one of them. i personally will do everything in my power to try and put together a bipartisan approach to this that would work and would put the best of the private sector with the best of the government sector to work for our folks in this -- in this country. and if we do it and -- and when you're talking about one-sixth of the american economy, if we do that, it will be to the betterment of our country and to the betterment of everybody. if we go partisan one-size way, and, especially in my opinion with a government-run plan, we're going to be anything but -- but good as far as health care is concerned. i'm grateful for the senator's very kind remarks and i apologize for takin taking thish time. mr. wyden: not at all. i share the senator's interest. there are good senators on both sides

the day. panels and others on the economy, globalization and the american worker, homosexual rights, former illinois gov. robb book which, -- gov. plight of iof illinois. and last sunday come in depth, univ. vilma professed professor and former weather underground member. he will take your calls as well as questions from the audience. for complete schedule, go online to booktv.org. >> there's still time to get your copy of cspan22009 congressional directory, with information on house and senate members, and the nation's governors, plus the district maps and how to contact caucuses and committees. it is $16.95, online or call the number on the screen. >> and now a house hearing on the fiscal year 2010 budget, such as navy seals and are the rangers. adam smith chairs the subcommittee on terrorism and unconventional threats. the hearing is about one hour. >> i have an opening statement that i have written. i will submit it for the record. i just briefly want to say how important the special operations command is to our nation's national security, and how much we respect the job that you and all the peo

economy and david ortiz would be hitting home runs again. unfortunately the "boston globe" ran an editorial the next day questioning my judgment and linking david ortiz's recovery to the american economy. that night david ortiz hit a home run. last night david ortiz hit a home run. today and yesterday we received all of this new positive commentary about the american economy. i am not saying it is directly related to my speech on monday, however i do believe that, and i thank you for pointing this out that my comments were acrid so please continue and we will add back the time to your statement. >> i will see if i can remember the original. there was what i think it's gone hand-in-hand with the efforts to push for extended federal oversight over transmission. there have been a couple of major studies done by d.o.t. and also done by a group of regional planning entities across the country to look at this idea about how do we actually expanded development in parts of the country where it exists and move that across the multiple regence and deliver it into subregions. of the joined coordinated system plan was a very large technical analysis of how to go about doing that, what the

, and to probe the ways in which building 100 new nuclear plants over the next 20 years could help the economy and keep the american economy competitive while at the same time protecting our environment. we're obviously going to talk a little about climate change. when people ask me about climate change and should we pay attention to it, i always say, "yes, we should pay attention to it. climate change has been affecting the human condition for millenia." and the one major challenge we have that our ancestors didn't have is that there are now about 7 billion of us on the planet. and if jacob should take his family to israel to escape the drought because of climate change, he would find about 90 million people already living there. and therefore, the adjustments that you might have been able to make to deal with climate change in past centuries are perhaps not available to us. so we have an outstanding panel of experts and witnesses available to us. i will withhold any kind of opening statement beyond that until we've heard from our witnesses. but recognize the senators in the order in which they've come. senator al

the brightest spots? guest: most americans remain optimistic about the economy. we are seeing that in consumer optimism. we're seeing changes in behavior households. americans are saving more as they should. i was having dinner last evening with another couple. they were my age. they do not have a lot save for retirement. i have a lot of dinners like that. baby boomers have to work into their 70's because they do not have the cash. we are going to save more, so we have to find other ways to create demand for the things we make in america. what we have been doing for the last 10 years is spending more than we burned, borrowing from abroad, an increase in the trade deficit to make up the difference. i do not see the obama administration adjusted trade deficit. -- addressing the trade deficit. host: we have a call from maryland. you can call three different numbers if you are republican, democrat, or independent. we are talking with the author of 18 books. he is an economist at the smith school of business in maryland. what grade would you give congress in addressing the economic issues? guest: deep. you ca

has the questions about the american economy, the credit market, -- conservatives do not like this bill. they said it favored wall street over main street. the $700 billion price tag is much too much for them to swallow. all systems are go for this vote today. hoping it will not be a replay of that debacle we saw on monday. >> mike, congratulations. >> thank you, bill. mr. president. mr. witt. distinguished guests. this is kind of a surprise. i did write down a few notes on the odd chance that i would actually win this award this evening. i like to thk mark whitaker for allowing me to rise and fall on the merits of my own reporting and my own abilities as a newsman. [applause] tony, our desk assignment editor it is the person who pushed me to organize the entry for the award. and rich, the he strung together the real -- the reel. when i came to nbc, she was very kind to me. she sent me out on the most difficult assignments and have a lot of faith in me. she was hardnosed, had a firm hand in a warm heart. i dedicate this to mary. once again, thank you very much. i want to say hello and a

has the questions about the american economy, the credit market, -- conservatives do not like this bill said it favored wall street over main street. the $700 billion price tag is much too much for them to swallow. all systems are go for this vote today. hoping it will not be a replay of that debacle we saw on monday. >> mike, congratulations. >> thank you, bill. mr. president, distinguished guests, this is kind of a surprise. i wrote down a few notes on the odd chance that i would win this award. i would like to thank mark whitaker for allowing me to follow in the merits of my own reporting and my own abilities as a newsman. tony, my desk assignment editor who is the person who pushed me and organized this and there is someone i would like to dedicate this award to. i would like to dedicate this to a dedicated newswoman of the old school. when i came to abc, she was very kind to me and sent me out on the most difficult assignments and she had a firm hand but a very warm heart. i'd dedicate this to mary dorman. once again, thank you very much. i want to say hello and arizona to my wife

the other thing they heard in the caller's voice was look at the american economy. look at jobs. look at what is happening to people out in the real world. i want to say her i want to say to her, when she said get out of washington, i want to get out of washington tonight and get back to arizona. it is not that we are not mindful about the environment. i care about the environment. it seems to me we need to be focused on a cleaner image of policy -- a cleaner energy policy, and we can. this much cost at this point in time for what appears to be little benefit -- i point out that in europe, with the cap and trade system, they have had very little reduction in carbon dioxide emission. the carbon dioxide emission in the united states went down half as much in the 2008 than europe has since they put through the cap entry program. why do it right now? host: you reference the opinion editorial in "the wall street journal," in which she writes, "the into the truth is that the u.s. temperatures have flat line since 2001. research has debunked the doomsday scenarios about the polar ice cap

how can you take over autos, health care, have the american economy, and manage it all, no matter howmart you are? so i am the worry wart brown the media these days. i see a guy who is tremendously impressive. he manages his staff so beautifully and talks like no other politician i have seen before. i just wish she was doing less. i just wish there was a little more humility there. maybe i will be proven wrong, because if there is one thing we know about this country, a country that can make a barbecue grill called the weber genesis grill, name of barbecue grill after a book from the bible, can probably achieve anything, but i am still loyal nervous about even as greater president as we have right now. thanks very much. [applause] i have been told there is time for questions. i know you guys from texas tech are out there. i was just at tcu about three weeks ago with bob schieffer, who has that bob schieffer school of journalism. my 10 year-old son fell in love with the young woman who was down there. if there are any questions, speak up. the question is whether penski has not saturn.

so as the president is trying to sell this on the basis that we need it for the economy, 28% of the americans really believe that's the case and, frankly, mr. president, i share their skepticism. it's going to hurt, not help. we need to reform health care right. and i think there's much more virtue in doing it correctly over doing it quickly. president obama promised change. but there's nothing new about dramatically increasing government spending. and adding even more to our national debt. i hope that some of my friends on the democratic side as well as republicans can agree that when it comes to health care reform, we should embrace real changes that support medical innovation and put patients first. that's the answer, that's what the american people want. mr. president, i note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. durbin: mr. president? the presiding officer: the senator from illinois. mr. durbin: i ask unanimous consent that the quorum call be suspended. the presiding officer: without objection, so ordered. mr. durbin: consent to sp

into trusts, that were sold up the line, so the rest of the level was magnified throughout the american economy and throughout the world. if we go back to a world where the basic consumer financial products are just steady, they have a level playing field. nobody should be protected for making and mistakes, -- making a mistake, if you spend money you do not have you should pay for that, if you buy a house you cannot afford, you should have to pay for this. but ordinary people who have done ordinary transactions deserve ordinary instruments, to do that. this will help us at the family level and will completely reform what the financial institutions look like, to give us a more secure financial system. >> someone who has been making money off of taking advantage of families, in the long run, the economy and the credit markets will come out better? >> i cannot say it better than that, that is the answer. >> thank you. >> thank you for holding the hearing today, and thank you for your leadership and thank you for what you are doing. i have always believed that we have to restore stability. to do th

in the middle of june, when we're talking about restructuring something like 16% or 18% of the american economy, is the list, dangerous, and outrageous. -- it is needless, dangerous, and the raiders. americans are going to be offended by the bombs rush to restructure, not only economy, -- not only the economy, but doing it in a way that does not make sense. they realize that everybody agrees it will be a consequence. some people are saying, the government competitor is a good thing. people on the other side are saying that a government competitor means there'll be a single payer system before too long. she went on to say, and they are right. you can find that statement on youtube. we do not want that to happen, and they do. health-care providers our understanding is stepping forward, saying they do not want it to happen. >> you cited a 83% of americans like what they have in think is pretty good. the polls do show that. what responsibility does congress have? many of those people are wrong. they may like what they have, but it is overpriced and over insured. what responsibility does congress ha

i can imagine the american economy without american politics. certainly today when the federal reserve is getting into the game. societies, you can divide academic departments very nicely comic economic departments don't talk to political science departments but in real life if you are a bigger you had better be aware of politics you might want to keep military in mind that might affect you as well so the idea of the privacy of economics is a freestanding yves fined, it is unpersuasive to me because i have never seen economics freestanding. the adl of civilizations is persuasive until you drill down to the next level grimness civilizations is often to competing entities and in a country can manipulate the difference is very effectively. for an example the nine states is closely aligned with egypt some two say to the united states it is standing in friction with the islamic world, when the united states has an extremely close relationship with turkey, egypt, and so on, and these are major countries, it is very hard to really recognize the world fu

the risk-reward relationship is at the base of the growth an power of the american economy. now, in the present crisis we've had people saying yes, but there are some entity that's are simply too big it fail. we must not allow them to fail. and particularly in the financial services industry and so that's why we have this proposal today from the obama administration. they want to deal with systemic risk or those tier one entities which they describe which comes down basically to what i said: they're too big to fail and we're not going to allow them to fail. and this is the regulatory regime we will setup. mr. president, if there are companies or entities that are too big to sale, this regime is too big to function. it is so focused on preventing failure that it is stacked in such a way that it will penalize the risk taker and prevent the risk taker from taking a risk and, therefore, from reaping any kind of a reward. there's a heavy emphasis on consumer protection. i'm all for consumer protection. i think we should have all of the kinds of regulations that say you need labels

i urge all members to protect the american economy and livelihood of millions of american families and say no to this gigantic national energy tax. >> new york. >> i like to yield two minutes to the gentleman from massachusetts. >> he is recognized for two minutes. >> i want to commend mr. rangel and waxman who have attempted to forge a consensus on this legislation. the bottom line to this legislation as proposed today is that it will make america less dependent on foreign oil. remember, despite what they say, there is an element on the other side of? the concepts of climate change in global warming. it is very difficult to find middle ground if they reject the science of our time. part of our job is to make some difficult decisions. this climate change bill we have before us today makes those tough choices for our future and our children's future. it is in the interest of america and in the interest of the world. america leads the way. this is an opportunity for us to reclaim that leadership. this legislation will lead our consumers, businesses, and communities toward smarter and mor

because what has been happening essentially up to a few years ago that it was the american consumer who is pulling the world economy and then don't want to personalize this to the people here but in the divisions in which there is of the world economy and a new and external deficit of the american economy was a clear manifestation of them. of for example to look at what germany is doing they refuse to really have an expansion of the budgetary policy and that they refuse to do that and at the same time they're taking a lot of measures to increase competitiveness, they have just recently cut the taxes on electricity where the major exporting corporations which means a lot because this is still quite industrial country. if you take away all the taxation of the electricity price that these companies pay, you are increasing the competitiveness, visavie belgium or france or other european countries substantially. so my conclusion at this point is that the major european countries are rewriting on that this stimulus produced in the united states and they're just waiting for the moment that the american demands start runni

i urge all members to protect the american economy and livelihoods of many of american families and say no to this gigantic national energy tax. i yield back. >> the gentleman from new york. >> i like to yield two minutes to this gentleman. >> i want to commend mr. rangel and others who have attempted to forge a consensus on this legislation. the bottom line to this legislation is that it will make america less dependent on foreign oil. despite the criticism from the other side, some project the concept of climate change in global warming from that side. it is very difficult to find middle gaunt -- ground. we must make difficult decisions and tough choices. this climate change bill before us today makes those tough choices for our future and our children's future. it is in the interest of america and the world. america leads the way. this is an opportunity for us to reclaim that leadership. this legislation will lead our consumers and small businesses towards smarter and cleaner and more efficient energy use. the american business community will not be disadvantaged by importers who ski

the united states economy. not too long ago, it seemed that an american could not walk the city block without sensing the strength of the american automakers bland -- brand. they dominated the u.s. automobile market and the global market in many ways. owning a buick was the stuff of american dreams. today, those images have faded. they have slipped below 50%, going from 66% in 2001 to 40% today. the u.s. industry have long abandoned its diversified product mix and instead has had to play catch up to foreign companies. only now have a recognize that in a shift their focus to make more fuel-efficient automobiles. one thing has remained constant. the skill and ingenuity of the american auto worker. there certainly proving it these days. given the proper tools, i think we can keep fighting until we're back on top once again. i believe that can happen. i'm for it -- i'm interested in hearing about how you can set the stage for a comeback in our country. mr. bloom has been intimately involved in negotiations with various stakeholders. i look forward to exploring the rationale behind these decisions, and the administrat

a forgotten man is the american taxpayer who is paying for all of the expense for building up the welfare state. it is a fascinating story to see how the american economy is taking a real parallel today in 2009 with the same course of action that was taken back in the great depression. members of congress right now. very pertinent to what we are doing. if we are going to apply the principles of big government intervention we see how it played out in the 1930's. prolonged. the forgotten. plus we have been able to here from her personally. we had her here. speaking at a luncheon. he had not yet written liberty and tyranny. but since the book there have been so much excitement in washington about that. and i am hopeful that he will come back and allow us to here from him personally. that is the number-one book that i am encouraging all americans to read. >> to read more summer reading lists visit our web site. >> guy mcpherson is a professor at the university of arizona and he is the author of "living with fire." is there a national fire policy? >> there is, actually, a national fire policy. it developed during the clinton administration. it has largely b

estimated that over $100 billion in value to the competitiveness and profits of american companies and thereby helped to generate jobs in the american economy so we see this as a very productive partnership and we would certainly hope that going ahead we can build on this and strengthen this rather than face constraints.@@@ @ rbrbrbrb %rbr u.s.-india relationship. we had an entirely hyphenated relationship in which we talked about indopak and we talked about the subcontinent as you suggested earlier the phrase as a zero-sum game. if we did it for india we had to do it for pakistan and if we did it for pakistan we have to do it for india. india has become a little bit of a after-thought and we have talked to afpa, which but at least in my mind it's highly regrettable. now, before we talk about some of the national security challenges. i just wonder on this hyphenated question how you feel we can sort of get past that, whether it's a perception in india as well and perhaps, you know, as you think about it, last week the -- last week the senate passed a kerry-lugar bill that has $1.5 billion in assistance per annum with very few restrictions t

which threaten the american economy and the well being of american families. we have begun to tackle these problems as well. but we are also called upon to rein in deficits by addressing these and other challenges in a manner that is fiscally responsible. this in part requires the kind of line by line review of the budget that is ongoing, to remove things that we don't need and to make the programs that we do need work more efficiently. there are billions of dollars to be saved this way. but much of our effort will entail going after the big ticket items that drive the deficits. by ending a necessary no-bid contracts in reforming the way government contracts are rewarded we can save the american people up to $40 billion every year. in addition, secretary robert gates is proposed a badly needed overhaul of a defense contracting system riddled with hundreds of billions of dollars in cost overruns. and the cancellation of superfluous defense systems necessary to combat the threats of the 21st century. we are also going to eliminate unwarranted subsidies currently

and sold up a line so that the riskiness of the household level became magnified throughout the american economy and throughout the world economy. if we go back to a world where the basic consumer financial products art steady, they have a level playing field. nobody should be protected from making mistakes. if you spend $2,000 that you cannot afford, you should have to pay for that. if you buy a house that you cannot afford, you should have to pay for that or lose that house. but ordinary people will have done ordinary transactions deserve some ordinary instrument to do that. if that is the case, that will help us at the family level and it completely reform what our financial institutions have bought in giveth a far more secure financial system. >> a bank that has been making their income off of taking advantage of families -- a whole credit markets will come out better? >> that is the answer. >> thank you. >> thank you for holding this hearing. trans. -- transparency and accountability is important which is what you are doing. we did not have that accountability and transparency in the past.

pence: the american economy is hurting. gasoline prices are on the rise, utility rates threaten to go higher and pose an even greater hardship on working families. the american people are looking for answers to these times and the challenges we face in energy. the democrat answer you just heard is a national energy tax that will lead to higher energy prices and massive job losses for the american people. the president said it best a year ago when he said if the cap and trade plan were to pass, utility rates, his words now, would, quote, necessarily skyrocket. some estimates suggest job losses between 1.8 million and 7 million. while republicans -- well, republicans have a better plan. the american energy act. it provides more energy independence, more jobs and a cleaner environment without imposing a national energy act. it focuses more on domestic exploration for oil and natural gas, a commitment to build 100 nuclear power plants in the next 20 years, investments in renewables, alternative energy technologies and creating i

by the middle of june when we're talking about restructuring somewhere like 16% to 18% of the american economy is needless. it is dangerous. it is outrageous and it won't allow the american people to see what's happening. so they may stay with that deadline. as people figure out what they are trying to do they are going to be offended by this rush that the american people are getting to restructure not only the economy but their health care. their family's in a time frame that doesn't make sense, hoping that they can seek a government takeover of health care through before the american people realize what everybody agrees will be the consequences of that. you know, even the democrats say government competitor, that's a good thing. i think jan recently in a speech said -- and people on the other side are saying a government competitor means there will be a single pair system before too long and she went on to say you're right. that's what they side believes and that's what we believe. they won't want to that to happen and health care providers are stepping forward saying they don't want it to h

creditor, once our debtor, saying turn in your bonds, the bottom falls out of what is left of the american economy but actually they're not. they're not at all. and they are instead actually not wanting the american model to fail, but on the other hand what they don't like is the message that we really have to at least deliver to ourselves, shanghai -- and i have been in some polluted plays, shanghai takes the cake. it is staggeringly temperature -- turbid with the most emphysema ridden place in the world, raw,en contained discharge of pollutants and they're bringing tragic problems to themselves. i'm not saying that america that has to look at china and gloat. this is one of the expectations out of easy abundance into other times where we are stewards of our own resources. this, ties is an american tradition. one of the chapters in the book, called american plenty, is about water, and water is going to be an absolutely incredibly major problem for the west in particular. lake mead is running at 50% of capacity. i'm not sure what the snow melt shortfall is this year but i think it was projected to

better now are creditor, as they turn in their bond, the bottom falls out of what left of the american economy. but actually they are not. they are not at all. and they are instead actually not wanting the american model to fail. on the other hand what they don't like is sort of the message that we really have to at least deliver to ourselves. shanghai, and i have been in some beleaguered places in the world, shanghai really takes the cake. it is staggeringly turbulent with the most emphysema ridden pollution of any place i have been in the world. it is the most raw, uncontained discharge of pollutants. and they are storing up all kinds of incredibly expensive and tragic problems for themselves. i'm not saying that america has to look to china. but this is one of the transitions out of the expectation of the easier abundance into a time where we are stewards of our resources in a more responsible way. this is also an american tradition i have to say. one of the chapters in the book called american plenty is about water. water is really going to be an absolutely incredible major problem for the

wall street journal, every wednesday i comment on this subject of the role of wall street and the american economy, how these people have been the vanguard of the economy for decades, not forever, but for a long time. they basically ran it off a cliff. what they want now is just to go back to the status quo. put all the pieces back together again, i don't want people to think that i am too pessimistic about obama. president obama said in in an interview with the new york times, obama basically said that we cannot continue down the path that we have been going. wall street cannot be the people running the entire economy. we can never go back to that situation. he singled out in particular the financial industry's compensation practices. when i went to college in the 1980's, i guess i was kind of stupid. i went on to study history. i got a ph.d. in history. all of the other kids that i knew went on to go work for wall street. that was so obviously what the writing on the wall was telling you. this was the future. these guys were pulling down fantastic sums until about eight months ago. i agree with

at the experience in canada and great britain, most americans know that if the federal government, even as an option in the beginning, index itself as a force to the private health insurance economyand every cent it will be the only option americans have and once the federal government is your only option, you will find yourself being told what procedures the government will or will not pay for, what dr. you are going to see, what health care institution you will be able to visit, and that is the kind of rationing i think is anathema to the american people. it is unnecessary. we can close the gap of the uninsured in this country and we can address the issues of cost and accessibility of health insurance through strengthening the private marketplace, not by strengthening the government's hand. >> this is "newsmakers" on c- span. our guest is congressman mike pence of indiana. you are the ranking member on the foreign affairs subcommittee. are you satisfied with the u.s. response to what is happening in iran? >> i very much welcome the president taking to the podium earlier this week and expressing the very strong denunciation of the united states of america for the violence being

i urge all members to protect the american economy and livelihoods of millions of american families and say no to this gigantic national energy tax. i yield back. >> the gentleman from new york? >> i would like to yield two minutes to the gentleman from massachusetts, chairman neil. >> the gentleman is recognized for two minutes. >> i want to commend mr. rangel, who has attempted to forge a consensus on this legislation. the bottom line to this legislation is that it will make american less dependent on foreign oil. despite protests from our friends on the other side, there is an element on the other side that rejects the concept of climate change and global warming. it is very difficult to find middle ground there as a side that simply projects the size of our times. a part of our job in government is to make some difficult decisions and some very tough choices. this climate change bill makes those tough choices for our future and our children's future. it is in the interest of america, but it is also in the interest of the world. america leads the way. this is an opportunity for us to

the great depression and the forgot man is the american taxpayer who is paying for all of the expense so it is a fascinating story to see how the american economy is it a parallel today in 2009 with the same course of action taken during the great depression. it is very instructive to members of congress and pertinent because if we go with the principles of big government intervention recede however played out and prove to prolong the depression so the forgotten man is a great book. also i can hear from her personally. the doctor was in the year and he had not yet written liberty and tyranny but there has been so much excitement in washington about the bucket i am hopeful the doctor will come back and allow us to hear from him personally that is the number one but i am encouraging all americans to read the gritty and tyranny and the forgotten man. >> it is great to be with you and thanks for coming out today. my first shock on the book since it came out 24 hours ago yesterday was the release day. this book is the result of talking about the issues especially to a religious audience and chris gin college students over the past few years we are i

we do not support this kind of suicide for the american economy. i urge my colleagues to oppose this. leagues to oppose this legislation. the speaker pro tempore: the gentleman's time has expired. the gentleman from california. the gentleman from california. mr. waxman: i want to yield to >> he was instrumental in getting the first draft of the information that we were dumb. as a knowledgeable individual in this area, from a constituency that has a special concern, he was able to negotiate with us so that we could reach some of the accommodations in this legislation that has made it a much better bill. i want to yield to him with great admiration five minutes. >> i in thank the gentleman from california and congratulate him on the tremendous leadership that he is shown in bringing this measure to the house floor this afternoon. i ask you and them is consent to revise my remarks. i'm a strong support to the bill. i urge its approval. it if she is a broad reductions in greenhouse gases, enhances energy security, and by placing a price of carbon dioxid

and mf us were worried that somehow health care reform, which we saw as fundamental to the american economy, would fall off the top 10 list, and not get the kind of currency that it needed and deserves. but we bet on the fact it would be the issue it has turned out to be. i think we understand more clearly than ever that health care reform and building a healthier nation is fundamental to rebuilding our economic structure. and again, that mental health and substance use issues will be core to having that happen. i'd like to take a minute to acknowledge the people we had. we had an opinionated advisory group. it has been terrifically helpful in both the selection of content in the organization and staging. i would like to thank them so much for their work. [applause] >> i would like to also acknowledge tipper gore. she has been phenomenal in her help. honorary members are often honorary. they legitimize members and open doors for you. tipper has done much, much more than that. tipper, i would like to thank you for all that you have done. >> and because of tipper's help on these issues, she h

our conversation on nuclear, would any of you have a comment as to this whole question of the american economy needing to have continued access to cheap energy in order to grow and where you think that cheap energy should come from? >> i think the important thing is that we have placed too much emphasis on the idea of having a broad spectrum of energy sources. for the base load that we talked about, the day in and day out meeting all of the requirements, there is nothing in the same class with nuclear. we are used to comparing things that are a few percent apart. the energy density of nuclear compared to anything that is nonnuclear, it is a factor iin the tens of millions. any non-nuclear system, you will be using huge quantities of material that has to be gathered up, transported, processed, and have a waste of a similar size dealt with. earth, and it is also a tremendous cost that you should not be having to run into. nuclear does its job making no impact on the earth whatsoever. i think the idea we should have a mix just because it is nice to have a mix, i think the kind of prices that we a

-- coverage on a bill like this takes a lot of time on any bill, but this is one-sixth of the american economy. so all i can say is get us the information and let's not push this on so that we can't do a job that has to be done in order to not come up with a colossal mess here and i intend to work with him and see what we can do. coverage is not only important, it's probably the most controversial part of this and right now we don't have a way of understanding what coverage is and how you're going to handle it or how cbo, what their recommendations are as well and as senator mccain has said we have yet to see the language of this bl or all of the language of this bill especially the coverage part, and there are a lot of controversial amendments that by necessity have to be brought up. we haven't even seen language for the so-called government plan or employer mandates or employee mandates that may be in this bill. so all i can say is i acknowledge your time to run a fair process. i hope to cooperate with you and to help you, but i don't see how you can set arbitrary deadlines by the end of nex

time and get our automakers back on the path to being the economic engine that has driven the american economy. i urge my colleagues to vote yes on this important legislation and yield back the balance of my time. the speaker pro tempore: the gentlewoman from ohio reserves. the gentleman from michigan is recognized. >> madam speaker, at this point i yield two minutes to the gentlelady from the great state of michigan and who was an original author with ms. sutton of the first bill, mrs. miller for two minutes. the speaker pro tempore: the gentlelady is recognized. mrs. miller: i rise in strong support of this bill that will help protect american jobs. we all understand the challenges facing the auto industry. this industry has been hit literally by an economic hurricane which has caused so many hardships, not only for automakers but suppliers, dealers, everyone who has a stake in this industry and its success this legislation is a strong bipartisan approach that will help get the assembly lines move, keep traffic in the showrooms prork tect jobs and give our economy a desperately needed jolt.