we have underinvested over a long period on infrastructure. the government invests considerably less on basic research than it did in prior decades. all of those things come infrastructure basic research are important determinants of how fast the economy can grow and i think that we could do more in terms of addressing those. we haven't done a very good job at creating a good job as people demand if they are going to stay in the labor market, so we have seen an extraordinary decline in the labor force participation rate in the united states. not only did young people stay out of the labor market about older people dropped out of it in the great recession but a bunch of people in the 25 to 55-year-old category dropped out of the labor market as well. i interpret that as what economists refer to as labor market polarization that we haven't been able to create good middle-class jobs for those people who don't want to be hamburger flippers so they've dropped out of the labor market and they will drop back and only if we are able to create the good

in amtrak just like we've underinvested in highways and ports in cleveland and dayton and all over my all over the country, and it's -- i'm hopeful that congress takes a lesson from this and really begins to understand. i mean, the chamber of commerce i was with the dayton chamber today, i'm going to be with the cincinnati chamber tomorrow. they are always saying we need infrastructure investment. it's how you create jobs not just construction and steel jobs and cement jobs right then but to lay the -- but to lay the foundation to set the table for more job growth as you know andrea. >> and from my own reading on this subject in the past these acela trains could go a whole lot faster if the track, if the roadbed were better but it's not been improved in decades. >> we run on the same old rail beds and the same curvy rails. i mean we you know over time you should straighten these out so that trains can safely go faster but amtrak is just always trying to kind of catch up to keep their tracks and trains and repair let alone kind of doing the new investment and we need it -- and trains r

>> there would have been an explosion, the underinvestment in our nation's transportation infrastructure that covers all modes of transportation and as a result, we are seeing the needless loss in of lives in many transportation modes. >> we could talk for hours on general transportation infrastructure. but we're producing more oil in america than we've ever produced, the world demand for oil continues to increase. given that we're going to keep on moving oil by rail, who is fighting the idea that we should do this in a better and nor safer moresafer way? >> well, the industry is make profit off the move by rail. of oil by rail. it's a booming business for them. and they are going to slow-walk, trying to add any investment in terms of the infrastructure, until they're required to, by the federal government. so that's why it's important that these regulations move forward as quickly as possible. >> the rail industry has been resistant to some of these rules as we discussed and this one about lowering speed limits for trains, for example norfolk southern the chief executive officer charlot

. >> hospitals traditionally have underinvested in information technology. if you don't spend that much you're not going to get the degree of technological protection. >> reporter: consumers need to step up too. stay on top of credit reports. get copies of medical records. and make sure insurance statements don't include treatments no one in the family had. even with safeguards experts say the cyber thieves will keep attacking. the best thing to do is be ready for them. stephanie gosk nbc news atlanta. >>> tomorrow night we'll talk about another risk that may not have occurred to you while you're on a plane surfing the internet at 35,000 feet. yes, hackers could be watching and collecting your personal data. we'll tell you more about that tomorrow. >>> up next here tonight, the amazing thing a pilot did for passengers who were delayed for hours on the tarmac. also an incredible story of survival. a man struck by lightning with the red fact: when pharmacists are in pain the medicine in advil is their #1 choice for pain relief. more than the medicines in tylen

on infrastructure and of course we're underinvesting. our infrastructure is decaying. by that, i mean roads, highways, bridges, rail, airports, broadband, you name it. china is spending 9% of g.d.p. on infrastructure. we are competing with china, we're competing with other countries, and if they can move goods more efficiently and move people more efficiently, that means their economy is going to be more efficient, their economy will be more come pet pettive they'll be able to sell things more cheaply, generate things more cheaply and out sell us. we have to compete in a world economy. we can't be insulated. if we're going to compete in a world economy, have an economy to generate job, itage on -- can only compete if you have an efficient transportation system. energy system too but an efficient system. we benefited from prior generations' investment and now we're not doing that investment. i hear people, i hear rhetoric on this floor all the time, we shouldn't leave a debt. we have to have a balanced budget, shouldn't leave a debt to our children. frankly, i'd rather

underinvestment by the public sector in us, we are the largest capitol outfit.we are the drivers of the profitability of this enterprise we call the united states of america. we are systematically under investing in ourselves. and only the government can invest in ourselves. >> you write the strand of contemporary american political thought that defines itself through its hatred of taxation is narcissistic self pleading wrapped in the flimsy sheet of economic -- >> that sounds like something i would write. i confess i wrote that. >> pretty strong. >> it is pretty strong. the world as is it actually operates. you understand it is necessary for me to be rich and you to be poor. there is no alternative. what's more these individuals, these individuals, i call the market trial. people who think that market outcomes are just because they were the outcomes of our recent in the market and the marketplace works efficiently's. well whatever outcomes follow from the market must be the right outcomes. and what it mrs. systematically misses is the idea that luck has an awfu

i can't tell you how many funds came into it short or underinvested in the actual market in a lot of cash. either because it suggested a total break down or feared the dollar would rally once again. something this market can't handle anymore. didn't happen. second interest rate which have been going up pretty much nonstop lately may have seen their peak for 2015. bold statement? i don't know. why not? there's no real inflation. our rates are higher than europes. that makes no sense if their economy is beginning to grow and our economy is slowing. third, if europe is as strong as i think it is you're going to see american companies do much better in the european operations. right on schedule mcdonald's announced their first positive surprise in europe this morning. when people feel wealthier they spend more money when they go to a restaurant. even a mcdonald's restaurant. mcdonald's new ceo may be the luckiest guy in the planet. finally as i told you, this is an educational show so here we go again. you need to buy stock of companies -- of the companies that you like when the market g

now is exactly the wrong wrong time to underinvest in training workers. if we don't support my amendment, that's what we're doing. make no mistake you go home after voting no on this dollar figure of 450 -- raising -- putting it back to where this congress voted on it only four years ago, you are leaving workers behind. you are underinvesting in workers, you're showing that these workers that lose their jobs because of south korea these workers that lose their jobs because of nafta or cafta or what's happened with pntr or the south korea trade agreement, you're saying to those workers sorry we don't have enough money to take care of you even though it was our actions in the house and senate and this president that caused those workers to lose those jobs. this is the same level that 70 senators including 14 current republican senators who sit in this body today supported 370 members -- 307 members of the house of representatives also supported. this dollar figure that this amendment calls for in 2011. i ask my colleagues including the nearly one quarter --

and so as you see underfunding and underinvestment in educational opportunities whether it's copps or not it will absolutely -- it's conscious or not it will absolutely have an impact to see who can connect those dots to have their voice heard. >> suppression of identity also is very important as you're indicating henry. to deny us our group identity undermines the possibility of using a base effectively to elect people to speak on behalf of our communities. >> in arizona, talking about arizona as one of the sort of fore fronts of this effort in 2010, they passed a series of bills, s.b. 1070, which 'em bold ped -- required, didn't embolden, required state and local police to do immigration checks. they passed other bills as well. one of them was to outlaw any latino or chicano or mexican-american studies in public high schools. that they couldn't have that anymore. and they had another bill that also outlawed any public schoolteacher could not have an accept. [laughter] an accent. and the person who sued and got it overturned was a british woman. [laughter] >> i was going to say a bri

so in spite of gross underinvestment, amtrak has continued to serve the nation.ortation system in the world that pays for itself out of its fare box. no rail system no highway system does nor does our airway system. think of all the investment in air traffic controllers, airports runways, tsa agents. we don't think about that as an investment in air, yet it is. and we invest precious little in passage rail. and we definitely need that passage rail connection to connect our economies, large cities small cities international networks. >> i think it bears mentioning that you were a republican mayor in mississippi for 16 years. what do you say to members of your own party who have expressed a great deal of skepticism over whether we need to fund amtrak? >> well if you look at the two leading champions in the senate the last time we authorized passage rail it was trent lott republican from mississippi, and a democrat from new jersey. so it can be a bipartisan issue. in fact, tomorrow the senate will introduce its rail authorization act, and once again, it's a mississi

we have communities underinvested in for decades upon decades. >> oh, my god. oh, my god. >> and we've got to acknowledge that fact. we've got to embrace that fact. let's watch this -- >> how much money can you throw at these communities? >> let me finish my point. there have been cities across america like ferguson, like staten island, they said we've seen this all along. we've seen this happen for years. but here's what they didn't have. there were no camera phones. there was nobody on the cameras to catch what was going on. so what t the people in these communities are saying, and we're not making excuses for looting and rioting, that's wrong. but what they're saying is bring justice to our communities. we're tired of being abused. >> go ahead, cheryl. >> you want to talk about justice, what about the 14 year old black boy shot in the head on april 8? what about the six black people that were killed by black males in the last week? why are we focussing on this one person who was killed, when we close our eyes to all the rampant shootings and deaths at the ha

federal der spending henry kolb on twitter wants me to ask you specifically what youstru do about underinvestment in american infrastructure and american his gi workers. >> i think the infrastructure in the u.s., this is a bad time tovest cite the literature on this given that we just had this horrible amtrak accident, but i think evan soltis made a strong case. he's a researcher that has been on a blog. i think he makes a strong case that the infrastructure crisis as folks like to describe it has really been overstated. we want to maintain our infrastructure spending for r w sure. i think what thehen recovery showed is that even when we boost e very spending on infrastructure it imp doesn't have very strong, so i especially short-term impacts on employment, on the income distribution. so i think infrastructure has been oversold as a way of boost s ing the middle class. >> income inequality, the income distribution in the u.s., our topic for the next 45 minutes or " so here on the washington journal. two experts, one from the roosevelt institute, the other from theki manhattan institute to join u

republicans and democrats agree that we have a significant backlog of underinvestment in our bridgess, our ports and our rail. where we disagree is how to close that gap, how to pay for it. i think it's striking that the house appropriations committee just yesterday cut $250 million from amtrak when they have had year over year improvements in ridership, in revenue in the northeast corridor and they are asking for and need significantly more not less money. >> all right. now, while we're talking, senator, we're going to show live aerials of the crash scene because it's still very active. we see the heavy equipment there they're using to right the cars. just to be clear the ntsb says they haven't found more people at the scene. that's not why people are unaccounted for. senator, you ride the rails, this is not just close to you politically but personally. and you understand the need. the question is what is the fix? now, politics is poisoning this discussion in my opinion and here's why, the left and right are fighting over money. so people don't want to deal with this on the right in

stephanie: i want to go back to china because you said it's underinvested and a great opportunity.n: we have chosen to play through leading internet companies listed in the u.s. and hong kong. the moves you have seen, you should not be skeptical of it. the slowing, the lack of inflation, the low unemployment has allowed a big boost of liquidity. erik: aren't there dangers in the chinese stocks -- carson block -- stephanie: jim chanos says don't touch china. john: china is changing. it's going to end up being the greatest consumer story in the world for the sheer size. the question is how do you participate in that? a lot of westerners dismissed china. psychologically, they don't want china to succeed. the leaders are quite smart and they have a lot of incentive to get this right. i think what will happen is they will try to become part of the sbr. they want to be a reserve currency and then they will open up the market to allow foreigners to own more probably at much higher prices which will allow them to recapitalize. stephanie: thank you so much for joining us. john burbank from

underinvestment costs the nights over 900,000 jobs annually. including more than 97,000 american manufacturing jobs. you want to make it in america? build the infrastructure. point number three. maximizing american-made materials when rebuilding infrastructure has the potential to create even more jobs. relying on american-made inputs can also mitigate safety concerns related to large scale projects. and large scale outsourcing. it's our make it in america policy. it's the agenda that we've been driving for the last five years here. build the infrastructure, buy america, make it in america. competitiveness. a lot of talk, everybody wants to talk about the trans-pacific partnership. or the t.p.p. you want to be competitive? you build the american infrastructure. again, duke university. point number four, united states boasts the world's largest stock in transportation infrastructure. measured by combined bridges, airports, seaport, miles of road and pipeline. very good start. foundation. however the united states is not well positioned compared

retail investors are underinvested in stocks. >> on the euro/dollar forecast i know you guys have beenollar. we've seen that trend come back in the past few weeks. does it continue and does it act as a barrier to stocks? are you surprised that with a near historic rally in the u.s. dollar, we managed to see record highs in stocks? >> that's true. i've been dumbfounded. last week i think waits a bit of a game changer. since the dollar started to rally, s&p has been down. most days the dollar has gone up. from our point of view equity markets are paying more attention to the market finally. we are not trading dollar strength but rather euro weakness. not just talking about greece per se. the greek issue is a red herring. things will get worse. ultimately greece will exit the euro. that will be positive for the euro. i think i'm talking more about the ecb qe. we are talking about minus 120 billion euros of negative supply of european bonds. we'll see a lot of foreign investors dumping or exiting european bonds in the summer months, which means some of them will sell euros, as well. i'm lo

what you hear is a logic that is used as an excuse to underinvested in the public goods. and that is why a lot of people are resistant to it. and are skeptical of the conversation. i guess what i'm saying is, guarding against cynicism, what we should say is we are going to argue hard for those public investments. we are going to argue hard for early childhood education. by the way, if a young kid three or four-year-old, he is going to hear a lot of words and succeed in school. there actually, by the time they're in the third grade, they will be reading a great level. those are concrete policies, but it requires money. we're going to argue hard for that. and lo and behold, if we do those things, the value and and character where they can read a great level and are less let the dropout, it turns out, they haare less like the to get pregnant as teams and less likely to do drugs and enough in the criminal justice system, that is a reinforcement of the values and characters we want. that is where we as a society have the capacity to make a difference. but it will cost us some

over a decade we have failed to address the funding challenges necessary to break the cycle of underinvestment and put this country back on a competitive path with the rest of the world. today we spend about 1.7% of g.d.p. on infrastructure while china spends 9%, europe 4.5% to 5%. we used to spend 4.5% to 5% also. there is a $800 million backlog. public transit has an $ 6 billion backlog of critical maintenance and repair needs which increased by $2.5 billion each year as bus and rail infrastructure ages. while infrastructure crumbles around us, we don't fill the gap in the highway trust fund just to do a long-term bill at current levels. but this week they will put on the floor a tax extenders that will cost $182 billion over 10 years completely unpaid for. i'm concerned that we will pass this two-month extension and be right back here in july having the same conversation. i will support this extension but only with the understanding that we must spend the next two months once and for all making transportation funding a priority so that our citizens don't have to risk unsafe transportation,

amtrak set records year over year and continuing to underinvestment in the critical infrastructure. so last month i led a letter with pennsylvania senator casey and 20 other senators asking the subcommittee to consider funding am track at $2 billion for fiscal year '16 and i would be interested in hearing what you believe we need to do to improve service and making progress towards achieving a state of good repair in the northeast corridor. >> i think it's an excellent question. and it speaks to one of the fundamental tenets of the grow america act which is that it is not just the year to year funding that we need to put amtrak on a more stable footing, the not only be able to improve its operations, but also, to make sure that managing the state of good repair of the system. that it is having multi-year certainty. that is also very critical to that. and our bill puts fully $28.6 billion over 6 years into a passenger rail system so that there is multi-year certainty, amtrak can actually plan. i think one of the things amtrak suffers from is just not being able to plan beyond the cur

is that really an excuse for underinvestment in the corridor if you have such a huge infusion that you helped get for them? ms. pelosi: i don't know, you you have to ask others. i just don't know why. but the republicans have been very much against amtrak for a very long time. i remember when secretary thompson came to be head of h.h.s., secretary of h.h.s., former governor of wisconsin, remember when he came, he really loved amtrak. and i think that was where his heart was and was hoping he could play a leadership role there. that's kind of what he told us. but they put him at h.h.s. which he loved as well. he was sort of an exception among the republicans in terms of strong supporter of amtrak. the -- in the history of that country, if you go back and read about henry clay when he was speaker, the issue of infrastructure was controversial in our country then. nor than you may want to hear about this morning. when thomas jefferson was president, he had an initiative for building infrastructure of our country. part of it was lewis and clark expedition to explore, the cumberland road, e

over a decade we have failed to address the funding challenges necessary to break the cycle of underinvestment and put this country back on a competitive path with the rest of the world. today we spend about 1.7% of g.d.p. on infrastructure while china spends 9%, europe 4.5% to 5%. we used to spend 4.5% to 5% also. there is a $800 million backlog. public transit has an $ 6 billion backlog of critical maintenance and repair needs which increased by $2.5 billion each year as bus and rail infrastructure ages. while infrastructure crumbles around us, we don't fill the gap in the highway trust fund just to do a long-term bill at current levels. but this week they will put on the floor a tax extenders that will cost $182 billion over 10 years completely unpaid for. i'm concerned that we will pass this two-month extension and be right back here in july having the same conversation. i will support this extension but only with the understanding that we must spend the next two months once and for all making transportation funding a priority so that our citizens don't have to risk unsafe transportation,

underinvestment in infrastructure and this map tells an important part of the story. across the country, one in four bridges are structurally deficient or functionally obsolete. that's scary and it's a matter of public safety. americans are taking tens of millions of trips every day other bridges that are in need of repair. as you can see on the pap in some states, over one third of the bridges are failing. here in the nation's capital 70% of our bridges are failing. we should fix our crumbling infrastructure as a matter of public safety and as a matter of national pride. to see how your state is doing you can down load the map and the raw data behind it from the j.e.c. website, jec.senate.gov. and i urge my colleagues to support infrastructure. it's time to move beyond a two-month extension and instead work on a long-term solution to this critical and important and economic development challenge. thank you. the speaker pro tempore: the time of the gentlewoman has expired. for what purpose does the gentlewoman from florida seek recognition? the gentlewoman is recogniz