. >>> the obama administration says europe's financial chaos has created a drag on the united states economy. it could impact the president's reelection bid. >> this is of huge importance to our own economy. if europe is having difficulties, then it is much more difficult for us to create good jobs here at home. >>> so the 9news, we have been telling you a lot about the struggle follow good banks this year to meet the tremendous need. tonight one of the most popular staples is becoming tough and tougher to find. popular because it has a long shelf life and kids like it. but food banks around the country say rising prices, prompted by a smaller peanut crop are taking their toll. if you have some to share, they would like it. public schools may seem perfect to donate to food banks, but there have been restrictions against that virginia until now. >> i'm peggy fox in mcclain. an elementary school's project was nixed by the county. now a congressman is trying to get it back on track. this food pantry refrigerator has been empty since june. the last time students at churchill road elementary scho

well, it turns out that the united states economy had been expected to generate enough growth in the first half of 1976 to pull itself out of recession and lift the economy bees of its allies in its wake. but something happened on the road to economic recovery. eighteen months earlier, the ford administration had disagreed over the size of a federal stimulus spending package. the result was a stimulus that satisfied no one. conservatives opposed stimulus spending in its entirety, and liberals complained that more, not less, was needed. in the event billions of dollars set aside for federal stimulus programs went unspent. in fact, the federal government underspent by an estimated $15 billion which was a huge dollar amount at the time. it reminded some analysts of a previous budgetary miscalculation from 1976 when lyndon johnson's administration underestimated the costs of the vietnam war by $10 billion can and caused a blowout in the federal budget with inflationary results. eleven years later, complained one observer, the federal budget was, quote n a state of chaos. the shortfall in

the really bad shape of the united states economy and the really bad shape of think european crisis is equal facts are global are in trouble is a city with a crush it's clear the question is where the problems will be a big war for their second with russia is prepared to face the challenges if you do have a resource you do have a strong storm lasted less markets we do believe that if you want to place the same kind of crisis as we're open to sars and things but you're going for instance with president obama when he calls for the whole world to stand united play out the years economy it's bit of a selfish cause it is a selfish problem in. clear there mr critical and some variations same time youth economist two biggest problem and our narrative for the run from the united states to affect the global economy of the. negative way but i would. reassert i think that we should all support each other. and a kind of curious should do its own work as well to reduce budget there second that also the open rift between sarkozy and cameron and confirms one more time how divided the european nations

the really bad shape of the united states economy and the really bad shape of think european crisis is equally if not us. global foreign currency would have crushed it's clear the question is where the problems will be be a coup or more there and second with russia is prepared to face the challenges we do have is yours we do have instruments storm or stimulus markets and we do believe that we want to place the same kind of crisis as you can just wasn't there but kerry for instance with president obama when he calls for the whole world to stand united proud the years calling it saying state of the se it is a selfish call. we're there mr critical it's a gracious same time you think honestly because for them and for our never cared for the run for the united states to affect the global economy of. the american way. i would. reassert by things that we should all support the trouble. that could turn a curious should do its own work as well to reduce budget deficit and that also think open rift between sarkozy and cameron and confirms one more time how divided the european nations really are

it, simpson and bowles are going to say you're going to have a huge, huge problem with the united states economyade that point because that's always been the assumption, that if this committee didn't deliver by november 23rd that then they would just simply kick the can down the road, and the sequestration that hits defense and domestic spending so hard would not happen. andç what simpson and bowles a going to say, as you point out, is don't even think about doing that, because that's when you would see a downgrade because that would send a signal to the markets that nothing is going to ever be done, and that is just something not acceptable at this stage, but the other point, luke, just briefly, is from what they said on "the daily rundown" earlier today and from my conversation with erskine bowles, there is huge disappointment from a democratic former chief of staff on what president obama did in not embracing their outline last january and february, and at least giving them more impetus. but that was really a missed opportunity, and he's saying so openly now and i think he'll sea soy when qu

the really bad shape of the united states economy and the really bad shape of think european crisis is it going to affect us. painting global power and probably a society with a crush it's clear the question is are the terrorists will be a week or more there and second with russia is prepared to face with challenges but we do care for europe's current we do have instruments storm lasted less markets we believe that we would not face the same kind of crisis that we're at themselves and things but do you agree for instance with president obama when he calls for the whole world still stand united by the u.s. economy it's a bit of a selfish call it is a selfish call. or a clear the mr critical considerations same time youth economies to the biggest economy and are negative for the room for the united states to affect the world record and. the negative way of. research i think that should all support the trouble. of trying a curious should do. well it's all work as well to reduce budget deficit and also the open rift between sarkozy and cameron confirms one more time how divided the europea

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economy and. they're looking for the one from the united states to a world record and. the negative way but i would. reassert by thing for we should all support the trouble. of trying a curious should do. well it's all work as well to use butler second term also think open rest between sarkozy and cameron confirms one more time how divided the european nations really are are the decisions that are taken at that have been taken at that you summit enough to prevent the spread of three year or so crisis unfolds a clear vision for our sufficient program for growth of the crisis there are amounts of money you know that are very big. but. the effect is conditional on not what the national guard. is the second step of a big government equally sprain ports world war and some other conflicts with congress need to continue to are under require a serious mirrors to give us a public record of service in the banks as well but you feel like that the time has come where when russia is actually in a position to advise its former mentors will be roadkill that you hear for sufficiently g

no-confidence vote pending right now and we will hear later today how that goes but as far as the united states economy and what it means, the european countries are almost engineering an economic slow down with the austerity plans so we are not looking to europe for growth, for exports from the united states or anything like that. that is one more negative but a slight negative the the bigger risk is that the whole debt debate gets out of hand and the italian situation starts to mimic the greek situation and we have another bout of banking worries, both for the big u.s. banks and european banks. >>shepard: even with the bailout, should it go through, as it appears it will, that is not necessarily a "fix" for greece and with italy sitting not wings you wonder where it ends. >>reporter: it is not a fix but it is moving in the right direction. the european central bank is lowering interest rates and making gestures that they take it seriously. the authorities are not doing enough to satisfy the markets or to make it seem a long-term solution is in place but they are attempting to meet each challenge as i

the really bad shape of the united states economy really bad shape of the european crisis is it going to affect us. any global power in terms of suicide crash of a clear question is whether those problems will be a real war and what they are and second we're going to she's prepared to face the challenges we do have from a source of power we do have instruments storm the glass markets we believe that if you want to place the same kind of crisis here and help themselves and but for instance with president obama when he calls for the whole world to stand united by the years condiment it's a bit of a selfish car it is a selfish cold and. here there mr critical and some variations same time musical mystery because the problem in. our narrative he wants and i fear it's going to affect the global record and. the negative way. but i will. be restored by things that you should all support the trouble. with kind of curious should do its own work as well to review the budget there second that also thing open rift between sarkozy and cameron confirms one more time how divided the european nations

the really bad shape of the united states economy and the really bad shape of think europe in crisis is it going to affect us or global our children since we were fact russia it's clear the question is are the problems will be a b. or what their second with russia is prepared to face with children but we do have resource are we do have strong storm lasted less markets and we do believe that we will not for the same kind of crisis with you at themselves and but do you agree for instance with president obama when he calls for the whole world to stand united by the u.s. economy it seems it was selfish it is a selfish. or a clear the mr critical considerations same time our youth economies too because for them and for our narrative for iran for the red states or for the world record of them with a negative way. i would be free so rich so i think that we should all support the trouble. of trying to pierce the. it's on work with well produced budget deficit and that also the open rift between sarkozy and cameron confirms one more time how divided the european nations really are are the dec

the really bad shape of the united states economy and the really bad shape of think european crisis isn't going to affect us. any global current problems as we look at the russia it's clear the question of whether the problems will be or what they are and second we're going to she's prepared to face with challenges we do hear from a source you do have a strong storm lasted less narcotics we do believe that we want to place the same kind of crisis as we're hoping to solve anything but for instance with president obama when he calls for the whole world to stand united by the year's economy it's a bit of a selfish cause it is a selfish call. clear there mr critical and some variation of same time for you for congress to the biggest for them and for our narrative for the run from the right. to affect the global economy from the negative way. but. the race for my favorite district will support the trouble. of trying a curious should do its own work as well to review the budget they are sick and that also the open between psychology and cameron confirms one more time how divided the european na

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costly for the economy. >> part of that is a concern of our debt and trade deficits that specifically as to our debt, american debt is a factor in the worldwide concern over the united states dollar and reserve currency. >> absolutely. >> fixing that would help strengthen our economy and reducing our debt would improve our ability of the united states dollar as a reserve currency. >> yes. >> would you share, as senator conrad suggested, some of the things that benefit the united states economy as a result of the dollar being a reserve currency? >> one thing we have seen very clearly in the last few years is in moments of great worry by investors about the safety of investments they come to the united states with their money as a safe haven. additionally a lot of transactions are conducted in dollars. the demand for our financial assets helps to keep the united states financial system at the center of the global financial system even when the financial system is struggling as it has in the past few years. as you said, we risk losing that advantage if we allow our debt to continue to rise relative to gdp. >> we have the ability to print more dollars within a limited frame ab

the really bad shape of the united states economy at the really about shape of the european crisis is it going to affect us are global or are in trouble since we would have crushed if it's clear the question is whether the tourists will be really cool or what they are and second where they're actually prepared to face the challenges we do have new york's current you do have instruments storm has to do as markets we do believe that if you want to place the same crime the gracious if you can just wasn't there but cary grant for instance with president obama when he calls for the whole world to stand united by the u.s. economy it's a bit of a selfish car it is a selfish call. clear there mr critical considerations same time youth economists to the biggest problem in our narrative for the rant of the knife rates are going to affect the global economy and the negative way but i would. research but i think that we should all support each other of the car but curious should do its own work as well to reduce budget deficit and that i also think open between sarkozy and cameron confirms one mo

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the really bad shape of the united states economy or the really bad shape of think europe in crisis isn't going to affect us our global foreign children since we would have crushed it's clear the question is whether the therapist will be or what they are and second with russia is prepared to face the challenges but we do have a resource we do have a strong storm lasted less markets we do believe that we will not face the same kind of crisis as we're hoping to solve anything but kerry for instance with president obama when he calls for the whole world to stand united by the u.s. economy it sings bit of a soft spot it is a selfish cold. appear the mr ready to pull inspirations same time for congress to the biggest for them and for our larry king for the run from the knife it's going to affect the global economy of the. of america for the way. i would. reassert i think that i should all support the trouble. of trying a curious should do its own work as well to reduce budget their second that i also think open brief between sarkozy and cameron confirms one more time how defied it the european

the really bad shape of the united states economy and the really bad shape of think europe in crisis isn't going to affect us. any global are in trouble so you would have to russia clear the question is where the problems will be or me or what they're uncertain with russia is prepared to face the challenges but we do have resource current we do have instruments storm lasted less markets we believe that we would not face the same kind of crisis as we're at themselves anything but for instance with president obama when he calls for the whole world to stand united by the u.s. economy it sings of the sawfish cup it is a selfish call. there mr ready to pull into the regionals same time you think honestly because for them and for our military he wants the knife but it's worth it over the course of the. american wait but i would. reassert by things that we should all support each other. because time of curious should be. it's on work as well to reduce budget deficit kind of that also if the opening riff between side and cameron confirms one more time how divided the european nations really

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the really bad shape of the united states economy and the really bad shape of think european crisis is it going to affect us are being global our own children since we were five to russia it's clear the question of whether the third will be a war or their second with russia is prepared to face with should interest but we do have a resource you do have instruments storm lasted less markets we believe that more for the same kind of crisis as we can to solve anything but for instance with president obama when he calls for the whole world to stand united by the u.s. economy it's a selfish cause it is a selfish problem and. then mr critical considerations same time use the quantities to the biggest for them and for our military he went. to a world record and. the negative way. are i will. resort by three for should all support the trouble. because a curious should be. it's all work as well to reduce budget their second i also think open rift between side of course and cameron confirms one more time how divided the european nations really are i think decisions that are taken that have been t

the really bad shape of the united states economy and the really bad shape of the european crisis is it going to affect us are gaining global power problems and so we would have to russia have a clear question is where the problems will be. more there and second with russia is prepared to face the challenges that we do have a resource aren't we do have a strong storm lasted less markets we believe that if you want to place the same kind of crisis here a plan to solve anything but do you agree for instance with president obama when he calls for the whole world still stand united by the us economy it's a softer scott it is a selfish cold. or the mr ready to pull out of the regionals same time our youth economies too because for them and for our in the region for the run from their fates are going to affect the world record and. the negative way but i would. really sort of buy thing for should all support the trouble. of trying but here's the. it's all work of the world produce budget their second also think open rift between sarkozy and cameron confirms one more time how divided the eu

the really bad shape of the united states economy and the really bad shape of the european crisis is it going to affect us. being global on top of a serial if after russia it's clear the question is where the north herbalists will be or what their second with russia is prepared to face the challenges we do have for resource aren't we do have strong storm lasted less markets and we do believe that if you want to face the same kind of crisis you can just wasn't there but clearly for instance with president obama when he calls for the whole world stand united by the u.s. economy it's sort of a selfish cause it is a selfish goal. we are the mr critical consideration of same time your congress to the biggest economy and for our military for you once and i think it's worth a global reporting of them. to make their way but i will play you for a sort of research i think that we should all support the trouble. of trying a curious should do its own work as well to reduce budget deficit and also the open rift between psychology and cameron confirms one more time how divided the european nations

right now investors are very nervous about how much the fallout from all of this will hurt the united states economy trillion dollars in automatic spending cuts would mean thousands of government jobs will be lost if there is no agreement by this wednesday and the ripple effect will be felt in the defense sectors as well as domestic programs and in private suppliers to the u.s. government the sole and increased risk to a double-dip recession with the added problem of the european debt crisis >>oil is now well under $100 a barrel in trading and gasoline as getting a bit cheaper down 7¢ on average from last week according to aaa the lundberg survey says that americans are driving less because of the poor economy and it is predicted that due to the global economic worry demand will be slow and prices will drop further this week ... m f global the bankrupt company may be missing more client money according to the trustee in charge of the firm ... people should go to jail over this one according to some critics >>research in motion says that some customers could not turn on their blackberry bold phones t

this is, wow, a very important topic that could affect the united states economy and even the global d what has to take place with italy, in terms of the moving forward financially? >> well, i tell you, kelly, it's an important discussion, people have to understand in this country what goes on in europe and around the world does impact us. it's important to state up-to-date on what's taking place. because in europe right now, you're start to go see, almost like a grass fire you put out on one place and it comes up in another place and we have a systemic world, and what it means is when one thing occurs in europe or in asia, it does impact, every market around the world and in europe right now, this is not going to be put out anytime soon and you need to be very aware of what's happening and how to handle your portfolio accordingly. i'm happy he's stepping down and it needs to happen, but the problem is a long time away from literally going away. >> you're right. we've seen the situations with the priests and now seeing with italy and see how that's impacted the united states, friday,

if europe falls apart it affects the united states economy. >> hard to remember a day in 2008 only aew years ago when the tarp amount, the $800 billion was considered the largest amount of money ever proposed in human history. now it's lunch money when you realize that the federal actually spent $7 trillion and i think it did what it had to do. it saved our economy. tarp also was the rightful thing to do. the government recovered almost all of it. but these are still staggering, the sums -- the main criticism of the fed is that it was done in secret. i think that is an issue that the congress is going to have to address in the future. >> bret: next up, the 2012 campaign. ♪ the weather outside is frightful ♪ ♪ but the fire is so delightful ♪ nothing melts away the cold like a hot, delicious bowl of chicken noodle soup from campbell's. ♪ let it snow, let it snow >>> i have run consistent campaign. i am going to continue to run campaign and continue to focus on barack obama. candidly, it seems to be working. >> i happen to think the attacks on me are coming from the other side. because