people are unemployed and underemployed? americans have not had a raise is in nine years.eople to save but 50 percent said they will sacrifice on discretionary expenses so they'd need to take financial inventory to just get started down the road. 72 percent said they wish they had started saving earlier. so just sit down and look at your expenses. and people are surprised when they do it only takes $50 to get started. gerri: people don't budget anymore. put it away to begin with gore said it aside before i don't think about it then they don't budget anything else. why is that a problem? to make people are overwhelmed or challenged. our best advice for those with access that 85 percent of respondents said if i did not have access to the 401k plan i would not have started. so people need to take advantage. gerri: the big problem is people borrow from the 401k all the time. all the time. people ask me if they should borrow from their 401k now want to take a vacation. i don't understand. you have to set aside and not touch. >> that should be a last resort and there are hardshi

>> obviously if you're unemployed, underemployed, and you're desperate and can't pay the rent, it gets you out in the streets. there's a strong argument for being in the streets. and for the most part the protests have been very disprin disciplined and peaceful. because you have to do something about the few police that are out of control. neil: but you look at how bad they got it in ferguson. you're not saying that was calm and respectful, are you? >> look at the mr. garner and the 12-year-old boy. you need to equip these police with these cameras. reform the grand jury so there's some court appointed cross-examiner in this secret room. as a judge in new york once said, a grand jury can indict a ham sandwich. in 2010, neil, the federal prosecutors saw 162,000 indictments. they got them all except for 11 cases. neil: you could make the argument, if you want to apply tougher grand jury arguments, if they don't reflect the real will of the people, you could apply the same to all the whites who have been attacked by blacks. i mean, why are we making this disproportionately racial. >> that

what happened in 2008 and beyond, and a lot of people are still out of work, there are a lot of underemployed people people working part-time, and i don't think the americans are so quick to forget that. that is burned into people's psyches. neil: we'll watch. the 113th congress the incoming 114th congress is looking to undo government. fox business' rich edson here to spell it out. what are they planning rich? >> the republicans have a better chance of unraveling president obama's accomplishments for the final two years of administration. midterm election years feature less legislative activity. the entire house and senate were up to challenges, that and a republican house and democratic senate meant congress accomplished little of significance this year. good news at least no concern to investors, the s&p 500 up nearly 14% this year. next year republicans say they'll attempt to roll back obamacare, dodd-frank environmental regulations and the president's executive action on immigration. republicans fund the department of homeland security into february giving them opportunity to devise a re

. >> a young unemployed or underemployed black man has a higher incidence of having an encounter witholice officer? >> without a doubt. because eric garner had four children. if he was gainfully employed would be out there doing what he was doing or doing something with his children. >> right. >> that's a big difference. money and economics in this country makes a big difference. and we need to focus on that, and do something about that. i'm not talking about government giveaways and so forth. but let's get down on the ground and create the type of jobs and industries that this country has been known for, for centuries. let's do that. but we have to step forward in our community and do that. because in between these incidents we need to step in the breach and start bringing these young people in and giving them something to do that is going to put money in their pockets so theying don't have to be out on the streets doing things. >> in a moment we're going to come back. this is the brooklyn bridge you are now looking at. packed with protesters. moving very slowly. they are -- they are

people -- family members, friends, either they've completely given up on the job market or they're underemployedthey're working part time and they definitely want a full-time job. and then there's home ownership. now, if you were able to hold onto your house, congratulations, it's obviously coming back in value. but here is the problem, millions lost their homes which are owned by foreign investors or wall street firms and being rented out for an absolute fortune. and then there's our other shared misery, government debt. look at this, guys. this is government debt in the federal reserve just skyrocketing, $18 trillion for our federal government, the federal reserve has taken on $3 trillion, over $4.5 trillion. the problem with these two numbers is one day someone's got to pay for it and that someone's probably you. all right, that brings us to our next real, real deal here. we keep talking about income inequality, but we've really got to talk about that. how much of this problem -- here's the thing. we know we have a problem, but different people use it as excuses for different things. scotty.

have just moved those who came here illegally to the front of the line, ahead of unemployed and underemployed americans, end quote. the department of homeland security official confirmed that the newly legalized immigrants won't have access to obamacare which opens up the loophole for employers looking to avoid that penalty. and then brite bart has an article -- breitbart has an article, amnesty, to the illegal immigrants to cost taxpayers $2 trillion over their lifetime. dated 24 november. well, we do have this report from c.r.s., congressional research service, and it looks like congress should be able, pass a ny problem, to law that defunds any actions from carrying out the president's illegal fiat that he dictated. and full language here, got a great staff, very helpful, got them to pull this language from , this was in the bill that limited the funds that kept military in vietnam. and this was on a continuing resolution. this was kind of what we're doing right here. but in 1974, the post-watergate democratic majority in both houses just decided, you know what, we're going to stop vietnam

wokey 20 million americans up this morning either unemployed or underemployed. president didn't mention these americans when he grant de the plan to permits esty and work to illegal americans or the on their would have pocketbooks. memoranda ious of outlining this policy for him didn't mention them either. address this problem and protect the american worker i introduced legislation prior to announcement s that would make clear that illegal immigrants benefiting amnesty are utive not authorized to work in the united states. illegal omes to immigration the conversation is illegal out the immigrant. forth about the people it will affect. don't , mr. secretary, i think it is fair, especially round the holidays to put illegal immigrants ahead of the american worker. secretary johnson, the president keeps saying his executive .ction will boost the economy so, tell me, how will adding at million new competitors to the workforce make it easier for the americans to find a job? >> congressman, the fact is, as i'm sure you know, we have lots undocumented in this country w

and if he really cared about working people who are underemployed at best, one out of five american men unemployed, you would never import millions of new low wage workers, that is giving the finger to american workers. why is nobody saying that? >> not importing new people. these people are already here. quite frankly there's 2.65 million jobs created this year, that's more than any year since the 1990s. that's a fact. >> but they didn't go to americans. >> but you would rather have more jobs than less. >> not 28-hour a week jobs, is that fair? >> yes -- >> i get it, right -- can you look me right in the eye and say bringing in millions of new workers, which is the president's intent and he's on the road to doing that is good for people who are unemployed now? high school graduates in the u.s. who don't have jobs, is that good for them? >> that wouldn't be good for them, the only problem is it's happening already -- >> thank you. >> these folks already working in this country. >> because we don't enforce our laws and once they're here we doept make them go back. not enough people on th

200,000 job numbers on steady level it is enough to create not only employ the not only employ the underemployedorkers but also accommodating the population growth. >> that is a positive note we're striking. we'll take it. >> it is good momentum. david: good to see you. thank you very much for coming in. appreciate it. >> we love to hear from you. do you think the jobs market is finally showing real signs of recovery? what are you expecting to see from friday's big jobs report for the month of november? send us a message on facebook or tweet us at us @fbnatb. david: so the economy may be picking up but one of the top economists in the world says we're not out of the woods yet. he is concerned about a new threat that could come from the fed finally raises rates. martin feldstein, harvard university professor of economics joining news a moment. >> putin placed in a corner as russia faces recession and a collapsing ruble. seems the dollar is mightier than the russian sword. how will we profit from their fall? could there be a russian revolution of sorts coming? david: cbs could go dark tomorrow for

of labor statistics half, get that half of all recent college grads unemployed or most likely underemployedin jobs that do not require the degree they just got. >> people are struggling. they are doing what they are told is the right path. they're going to college. they're paying for their way through college. they're working really hard to get their degrees and something's not working. >> critics say what is not working is the university system as especially the liberal arts colleges. the average student loan debt is a crushing $29,000 right now. some blast college administrators being in ivory tower teaching outdated stuff and frankly uninterested in getting students ready for their first job. but a dean at yale university says that is not true. >> i certainly believe that quality thinking, teaching quality thinking skills, quality communication skills, deep thinking in broad areas that really will prepare you, and then you can get those more specific trainings. we can help with that in our career services office. >> if you find yourself without a job and looking for koru is not cheap. th

many americans even today remain unemployed or underemployed and are still struggling to make ends meet because of the risky behaviors that we saw within the financial industry. and so now dodd-frank, this wall street protection act, was passed to enhance consumer protection and increase safeguards against risky activities so we as a country do not go through this again. dodd-frank isn't perfect. i'm the first to admit that are ways to change it and improve it and implements its provisions that why have yet to be fully implemented. but changes to financial regulations should be done through a much more transparent process, in the public eye we should debate these issues on the floor of the house and the senate, openly. it should not be done like this was, behind closed doors and definitely not through what they call a must-pass omnibus bill. this is wrong. and so here we are, in the last moments on an omnibus spending bill with a provision that goes to the heart of protecting american taxpayers from the risky, reckless schemes that helped launch the crisis in the first place. this provi

different indicators, all different kinds of measures of unemployment, part-time unemployment, the underemployed time to start ignoring this? >> the job of an indicator is to indicate, and this thing is going flatlined as payroll gains breakout. i think both of the leading indicators -- >> can we bring the chart backup? of see the debt, the terror 2009, and then you see nice, cyclical movement. what happened after those three cycles when it flattens out? >> what happened in 2009 is everything got terrible at the same time, so all 19 indicators collapse. when you have now is a range of labor indicators, some of which are early, some of which are late cycle. the midcycle ones are flashing normal, and the light cycle once, which is everything to do with wage gains, are still abnormally low at this point. >> this goes to michael spence some of the nobel laureate who will join us tomorrow on "bloomberg surveillance," of new york university, the 85th anniversary celebration, there is an idea of the islm architecture, which you and i studied in school. there is a real economy, which you are talking abo

people the united states can absorb without damaging the wages and job prospects of unemployed, underemployedmericans. so the united states census bureau statistics report that in 1980, the foreign-born population stood at 14.1 million. but from 1980 through 2013, the immigrant population tripled from 14 million to more than 41 million. the large increase in the size of the immigrant population is a direct product of policies in washington. creating both an expanded lawful system and an expanded unlawful system. so, illegal immigration in the 1980s averaged 600,000 people a year. 600,000. but since 1990, through today, it is averaged about a million annually. meaning the annual rate almost doubled. the sustained large-scale flow of legal immigration overwhelmingly this group are lower wage and lower skilled persons coming to america. it has placed substantial downward pressure on wages. i don't think there's any doubt another about that. some try to ignore it, talk around, but the facts are clear. we have right now a very slack labor market with more job seekers than jobs. the white house has

the real unemployment rate and including the underemployed and those stopped looking for a job, stands at 11.4%. that is more than a point lower than this time a year ago but it means still millions of americans can't find a job. stuart varney, fox business network, knows all about this. they sit and doubt tout the unemployment rate is going down but it may not be good news. >> i will call this a solid report. i think there is real improvement here. we've been waiting a long time for this improvement. we've been waiting years for it. i'm not going to say that this is a breakout report but it is a definite improvement. let's dig a little deeper for a second. average hourly wages went up, a lot. best gains since early last year. that is a very good thing. eric: why is that so significant? >> because wages are a real problem in this economy. they have not kept pace with inflation. so the middle class is actually losing ground. when wages go up, as they have in this report, that's a good thing. you mentioned the real unemployment report. it actually came down. it is still too high at 11%,

nearly 20 million americans woke up this morning, either unemployed or underemployed. now the president didn't mention these americans when he announced his plan to grant de facto amnesty and work permits to up to 5 million illegal immigrants. he didn't discuss the competition this would create for them. or the impact it would have on their pocketbooks. and your series of memoranda outlining this policy for him, didn't mention them either. to address this problem and protect the american worker i introduced legislation prior to the president's announcement that would make clear that illegal immigrants benefiting from his executive amnesty are not authorized to work in the united states. when it comes to illegal immigration, the conversation is always about the illegal immigrant. not about the people that it will affect. and you see, mr. secretary, i don't think it's fair, especially around the holidays, to put illegal immigrants ahead of the american worker. secretary johnson, the president keeps saying that his executive action will boost the economy. so tell me, how

nearly 20 million americans woke up this morning unemployed or underemployed. the president didn't mention these americans when he announced his plan to grant de facto amnesty and work permits to up to 5 million illegal immigrants. he didn't discuss the competition this would create for them or the impact it would have on their pocketbooks. your series of memoranda outlining this policy for him didn't mention them either. to address this problem and protect the american worker, i introduced legislation prior to the announcement that would make clear that illegal immigrants benefiting from executive amnesty are not authorized to work in the united states. when it comes to illegal immigration, the conversation is always about the illegal immigrants, not the people they will affect. you see, i don't think it is fair. especially around the holidays, to put illegal immigrants ahead of the american worker. secretary johnson, the president keeps saying that his executive action will boost the economy. so tell me, how will adding 5 million new competitors to the workfo

nearly 20 million americans woke up this morning, either unemployed or underemployed. now the president didn't mention these americans when he announced his plan to grant de facto amnesty and work permits to up to 5 million illegal immigrants. he didn't discuss the competition this would create for them. or the impact it would have on their pocketbooks. and your series of memoranda outlining this policy for him, didn't mention them either. to address this problem and protect the american worker i introduced legislation prior to the president's announcement that would make clear that illegal immigrants benefiting from his executive amnesty are not authorized to work in the united states. when it comes to illegal immigration, the conversation is always about the illegal immigrant. not about the people that it will affect. and you see, mr. secretary, i don't think it's fair, especially around the holidays, to put illegal immigrants ahead of the american worker. secretary johnson, the president keeps saying that his executive action will boost the economy. so tell me, how

or is underemployed. if you took out those two categories we would have a much better future after the value of this education. i am a strong believer and on the job training and high school programs and any other things where people can pull themselves out of poverty. thanks gus glinda makes a good point. of course, if you're talking about height education as kind of something that is a lifetime benefit, it necessary is measured after the first two years, and you also, we can't predict the future that well. a lot of the studies to look backwards on income and to some degree they may not be right because what they're describing is what the benefits were of a degree a different economy than economy we will have in 20 years. so she's right that we can speculate on that but what else to go by? you go by what can you can look at a struggle record and look at the current time but i don't know if it's fair to measure the value of a college degree by someone strengthened first couple of years out these are. >> h

the number of underemployed, those who wish to have full-time work but cannot find it, that is almost twice the number at 18 million. we have 46 million of our fellow countrymen still on food stamps. 45 million at the poverty rate. one of the most important things we can do here, mr. speaker is being able to make a positive -- mr. speaker, is eing able to make a positive opportunity at this particular me and that is, one of the aspects of s. 2244. we've had a debate about the terrorism risk insurance act in this body. i was authorized on behalf of the house to negotiate this particular part of this bill, along with senator schumer, the gentleman from new york, on the senate side. over the course of several weeks and several meetings we have negotiated language on this. certainly, it doesn't give everything the house wants, it doesn't give everything the senate wants. such is negotiations in a free society with divided government. but for those who care passionately about the re-authorization, this is a long-term re-authorization bill which most members have asked for. it's a six-year

can make the wages they used to make because we've got some people who are employed but they're underemployedndicators are looking good. republicans and democrats have worked well together at points in the past. bill clinton did well with the republican house and senate back in the 1990s. got a lot done for the country. hopefully that can happen now. >> jimmy, the economy, not everyone is necessarily benefiting from the improved situation. most notably, wages have been flat. what's the challenge for the white house in trying to address this? >> well, i mean, it's two fold. i think the congress should work with the president to raise the minimum wage. states are doing this. where that's happening, we're finding where it doesn't just affect those making the minimum wage but those above them. i think that's important. the congress should step up on a federal level to make sure that happens in the states that have not done that. secondly, the white house hasn't really -- corporate america needs to pony up here. corporate profits have never been higher in the history of the country. if that's the