it's because he told us the economy would be growing. he told us the economy would be growing, but the truth is it has been flat-lining. will be acknowledged that it's his failure to get growth which means we're having a falling, not rising living standards in this country? >> first of all, i would remind him that inflation is lower under this government than what we inherited from labour. it has been cut in half from its peak but, of course, it is question is have you had to take difficult decisions to deal with the deficit, to get on top of the problems that we face, to reform welfare, to clean up our banks, you betcha we've had to take difficult decisions. but no one, no one in this country is in any doubt about why we've had to take difficult decisions. it's because of the massive that he left. >> ed miliband. >> first of all the deficit is going up, not down under him because of his economic failure. and secondly, we have flat-lining economy. and this will be the question of the next two years, declining living standards as a result.

it's because he told us the economy would be growing. he told us the economy would be growing, but the truth is it has been flat-lining. will be acknowledged that it's his failure to get growth which means we're having a falling, not rising living standards in this country? >> first of all, i would remind him that inflation is lower under thisovernment than what we inherited from labour. it has been cut in half from its peak but, of course, it is question is have you had to take difficult decisions to deal with the deficit, to get on top of the problems that we face, to reform welfare, to clean up our banks, you betcha we've had to take difficult decisions. but no one, no one in this country is in any doubt about why we've had to take difficult decisions. it's because of the massive that he left. >> ed miliband. >> first of all the deficit is going up, not down under him because of his economic failure. and secondly, we have flat-lining economy. and this will be the question of the next two years, declining living standards as a result. b

is the consequence of moving from what's called a manufacturing economy to what's called a fire economy used to be that about a third a little over a third of our total economy about twenty percent of it is government about a third of our total economy was actually caused it was manufacturing and then you got you know another twenty percent fifteen to twenty percent that's medical and you got you know retail portions but. we have moved from a third of our economy being manufacturing and about ten percent of our economy being finance real estate and insurance find it finance insurance and real estate f.-i are those fire we've gone from mostly manufacturing and a little bit of fire economy to the exact reverse we are now over thirty i think it's thirty five percent or something like that is is the fire economy and only eight nine ten eleven maybe it's a lot or twelve percent is what actually here's there's the chart you can see and as that fire economy has gone up what that means is that you know real estate is is going up artificially in price because that's the new economy so everybody's cha

the economy got us. well, that begs the question, why didn't it get all the other automobile or vehicle companies? but there was no vision. i asked people what we do here, and i didn't get very satisfactory answers. so early on we decided what we did here, which was design, build, and sell the world's best vehicles. >> that is fantastic. so gm saw a huge re-ipo in 2011. how safe is the american automobile industry dodd when it comes to the ability to develop products and sell great products to the public? >> i think gm is in great shape. i think you just look at the results and you will see it's onward and upward. there are a lot of new vehicles under development and many being introduced this year. i think they're on a great course. >> what about american business in general? from your days at at&t, you worked with steve jobs on partnering at and t with the iphone at its launch. we'll talk about that. in the book you looked at companies that pondered too long and lost out. talk to us about business in g

on the president's commission, they said when the debt gets to this level of the economy it costs us e is not a hint of evidence that the deficit or debt for the u.s. economy now. you want to pay down your debt but not at a time it will lead to sharply higher unemployment which will happen now. this is a myth. we have overwhelming evidence that slashing government spending when the economy is depressed significantly deepens the depression. this is a convenient myth. >> we have seen what happens in europe. we saw the debt strangle countries in europe. you're saying we need more government spending to stimulate the economy. how much would you like to see the spending. where does it stop? when do you expect the debt and deficit to start choking us? >> so the european story is not at all. this is amazing. people have managed to forget very recent history. spain, ireland had very low levels of debt when they came into the crisis. now they have deficits, debt because of the crisis. not the other way around. greece is a different story. we are nothing like those. we have our own currency whi

power the government has to drain away from the civilian economy so that we wouldn't face a terribly inflationary situation. gnp figures were usefuling the war, as they have been ever since. that doesn't mean they give a complete picture of the progress of our economy. the former head of nasa said, "on the way to the moon, we discovered earth." that discovery drew national attention. in april of 1970, people protested against pollution from automobiles and factories, chemical poisoning from pesticides, the trash of a throwaway society, and ultimately, the idea that bigger is better. the originator of earth day, former senator gaylord nelson, recalls why so many people got involved. there was a growing public awareness that our environment was being degraded in ways that affected the quality of the lives of the people. they wanted something done about it. that's why the response to earth day, i think, was so great. an estimated 20 million people participated in that event. it may have been the largest planned event in world history. as a consequence, it got enormous attention. political figures who had thought of environmental and

you will help us grow our economy, strengthen our middle- class. so that is what comprehensive immigration reform looks like. smarter enforcement, at a pathway to earn citizenship, improvements in the legal immigration system so that we continue to be a magnet for the best and brightest all around the world. it is pretty straightforward. the question now is simple. do we have the result -- resolve as a people, as a country, as a government, to finally put this behind us? i believe that we do. [applause] i believe that we do. [applause] i believe we are finally at the moment where comprehensive immigration reform is within our grasp. but i promise you this, the closer we get, the more emotional this debate will become. immigration has always been an issue that inflames passions. that is not surprising. there are few things that are more important to us as a society than who gets to come here and call our country home. who gets the privilege of becoming a citizen of the united states of america. that is a big deal. when we talk about that in the abst

growth in the india advanced economies that have been very badly hit by the financial crisis i don't think they sing with each other in any meaningful way trying to lead us to economies i think is printing money to. to my chance to idea well well they kind of land out of options right now because. their government debt is is high they can only do so much more fiscal stimulus they have to actually cut back on government spending in order to get the government accounts back into balance unfortunately to central banks have been left as and particularly so he knew and have been left as the only game in town and they are doing what they can how does i go not having as they think that what they're doing is now particularly effective way wait wait i don't think what they're doing now is particularly effective at the same time i don't think they sing with each other in any significant way and i think that. at least in the case of the united states you're seeing the private sector the act you're seeing a good tool improvement of the economy a much more worried about the european situation where you have been go ahead and go ahead we're do you see an improvement i

. >> our economy used to be -- the recession. >> our economy used to be the fastest growing in the nation as a metropolitan area. now we're in the bottom 1/3. >> reporter: but the battle lines remain the same as the democrats blame republicans for not going along with their plans to raise higher tax revenues. >> since the new congress began they have not put forward one proposal to prevent the across the board sequester. >> i try to put myself in the place of the regular citizen who sits here and watches this. they got to be scratching their heads. >> reporter: republicans insist deeper entitlement cuts are needed, not more tax money. >> now it's time to get serious about reducing washington's out of control spending. >> reporter: virginia republican congressman randy forbes says the white house is to blame for the sequestration crisis because he says it created the budget cutting mechanism in the first place. >> the president signed it into law. he doesn't have to sign it into law. he did and for over a year from august, 2011 through the end of last year the president did nothing to stop

there's the economies of all of us and the island, health care economy.pretty rough time over the last four or fives, six years in our economy. there's a lot of unemployment, a lot of pressure on us. not on that island. everybody just keeps making more money. >> jon: right. >> it's as if they don't exist in the universe and worst of all, the money they are making they are taking from all of us and bankrupting the country and it's bankrupting people. 60% of the personal bankruptcies in this country come from medical bills. >> jon: what is crazy to me is when you begin to tease it apart. when you begin to deconstruct it, it's made of sand. as i'm reading it's 36 pages. as you get higher and higher in the pages you feel like chuck yaeger breaking the sound barrier. i was like oh, my god. by page ten i was like i can't take it anymore. there's something -- you cannot believe this. there's something called the charge master. >> right. >> jon: and the charge master sets the price. so if you want an mri that's $6,000 according to the charge master. if you good t

our view is that fracking good for the us economy relative to not having fracking at all, but the effect is probably smaller than some of the more enthusiastic supporters have said. moreover, our economic forecasts do not generally pick out specific elements of innovation in techniques or shifts in the composition of output. we are looking at a cruder approach, just to stack up the labor and capital resources for some sense of overall productivity. our projection has in them a certain amount of new ideas -- given the potential importance of fracking, are doing a separate analysis which is not quite complete. >> you talked about how debt to gdp is now around the 76, much higher than the average. one of the big debates in washington is how much additional deficit reduction should be done. do you guys have any projections of how much additional deficit reduction it would take to stabilize debt to gdp? >> i am not sure i know that fact exactly. as we show in a report -- i can go back to the crucial picture the debt to gdp ratio will be 76% of gdp. that is a decline in to around 73%, then bac

growth in the india advanced economies that have been very badly hit by the financial crisis i don't think they sing with each other in any meaningful way trying to lead us to economies i think they're printing money to. transfer idea well well they kind of land out of options right now because. their government debt is is high they can only do so much more fiscal stimulus they have to actually cut back on government spending in order to get the government accounts back into balance unfortunately to central banks have been left as and particular so he knew it had been left as the only game in town and they are doing what they can how does i go not having us do you think that what you're doing is now particularly effective way wait wait i don't think what they're doing now is particularly effective at the same time i don't think they sing with each other in any significant way and i think that. at least in the case of the united states you're seeing the private sector the act you're seeing a good tool improvement of the economy a much more worried about the european situation where you have been go ahead and go ahead we're do you see an improvement in the

growth in the india advanced economies that have been very badly hit by the financial crisis i don't think they sing with each other in any meaningful way trying to lead us to economies i think printing money the. chance to idea well well they kind of land out of options right now because. their government debt is is high they can only do so much more fiscal stimulus they have to actually cut back on government spending in order to get the government accounts back into balance unfortunately to central banks have been left as and particularly so he knew it had been left as the only game in town and they are doing what they can how does i go not having as they think that what they're doing is now particularly effective way wait wait i don't think what they're doing now is particularly effective at the same time i don't think dad racing with each other in any significant way and i think that. at least in the case of the united states you're seeing the private sector the act you're seeing a good tool improvement of the economy a much more worried about the european situation where you have been go ahead and go ahead we're do you see an improvement in the uni

we can also help grow our economy if we have a legal immigration system that allows to us assimilate the best and brightest. we need a responsible permanent solution for those that are here illegally but first we must follow through on the broken promises of the past to secure our borders, and enforce our laws. helping the middle-class grow will require an educational system that gives people the skills today's jobs entail. we need to help local school districts to offer more advanced placement courses and career training and give all parents especially the parents of children with special needs the opportunity to send their children to the school of their choice. because tuition costs have grown so fast we need the way to pay for higher education. i believe in federal financial aid i couldn't have gone to college without it. it's not spending more money, it's also about strengthening and modernizing them. 21th century work force should not be forced to accept 20th century cailgs education solutions. today's students are not 18-year-olds, they are returning veterans and single parent

us. the economy got us. and i said what about the other auto companies? there was no answer to that.ou work for? i work for several people. that is dead giveaway. what do you do? it was difficult. liz: it was a bloated, bloat system. >> it was. liz: it seemed to you people that worked on one portion of a car didn't understand the other parts of the car. >> that's true. liz: how did you get it all together once again? >> we got all the management people, once we changed the organization in a room and said what do we do at this company? we settled in a short period of time on, we design, build and sell the world's best vehicles. we preached that to every employee at gm from the top to the bottom. we empowersed people. we held them accountable. we gave them the authority to do their jobs. we simplified, got rid of some bureaucracy and miracles occurred. liz: i also thought it was very funny where you said, why are nonboard members sitting in on board meetings. people would inherently show up which is big no, no in the corporate world. >> you don't do that sort of thing. liz: you cleaned

they told us in autumn 2010 that by now the economy would have grown by over 5%. can the prime minister tell us by how much the economy has actually grown since then? >> there's absolutely nothing complacent about this government. that is why we are cutting corporation tax. we are investing in enterprise zone, a million apprenticeships have perhaps started under this government. and let me point out to him what is actually happening in our economy. 1 million private sector jobs. in the last year alone, half a million private sector jobs, the fastest rate of job creation since 1989. that is what's happening. but do we do need to do more to get the banks lend him to get businesses investing? yes, we do. and under this government we will. >> thank you just for once why doesn't he give us straight after two straight question? [shouting] growth was not 5% as he foreca forecast. but -- i'm about to give him some advice. i decided to the part-time chancellor, he should spend more time worrying about our economy and less time worrying about how to divert high speed of rail

session to raise the taxes -- his obsession to raise the taxes and instead work with us to achieve real growth in our economy. one of the best ways to encourage growth is through our energy sector. god bless us with abundant coal, oil and national -- natural gas. instead of wasting taxpayer money on free energy companies, let's open up more federal lands for safe and responsible exploration. let's reform our energy regulation so that they are reasonable and based on common sense. if we can grow our energy industry, it will make us energy independent. it will create middle-class jobs and bring manufacturing back from places like china. simplifying our tax code will also help the middle class because it will make it easier for small businesses to hire and grow. we agree with the president -- we should lower our corporate tax rate so that companies will start bringing their money in their jobs back here from overseas. we can also help grow our economy if we have a legal immigration system that allows us to attract and assimilate the world's best and brightest. we need a responsible, permanent solution. but firs

us back? let's streamline the process and help our economy grow. these initiatives in manufacturing, energy, infrastructu infrastructure, housing, all of these things will help entrepreneurs and small business owners expand and create new jobs, but none of it will matter unless we also equip our citizens with the skills and training to fill those jobs. and that has to start at the earliest possible age. you know, study after study shows that the sooner a child begins learning, the better he or she does down the road. but today fewer than 3 in 10 4-year-olds are enrolled in a high-quality preschool program. most parents can't afford a few hundred bucks a week for preschool. and for poor kids who need help the most, the lack of access to preschool education can shadow them the rest of their lives. tonight, i propose working with states to make high-quality preschool available to every single child in america. that's something we should be able to do.3 f1 every dollar we invest in high-quality early childhood education can save more than $7 later on,

we can also help grow our economy if we have a legal immigration system that allows us to attract and asemi-late the best and brightest. we need a responsible permanent solution to the problem of those here illegally but first, we must follow through on the broken promises of the past to secure the borders and enforce the laws. helping the middle class to require an education system that gives people the skills today's jobs entail and tomorrow's knowledge. we need to incentive schools and give all parents, especially the parents of children with special needs the opportunity to send their children to the school of their choice and because college tuition costs have grown so fast, we need to change the way we pay for higher education. now i believe in federal financial aid. i couldn't have gone to college without it. but it's not just about spending more money. it's also about strengthening and modern newsing them. the work force should not be forced to except 20th century education solutions. today's students aren't only 18 years but veterans and parents that need the education to ear

we can also help grow our economy if we have a legal immigration system that allows to us assimilate the best and brightest. we need a responsible perment solution for those that are here illegally but first we must follow through on the broken promises of the past to secure our borders, and enforce our laws. helping the middle-class grow will require an educational system that gives people the skills today's jobs entail. we need to help local school districts to offer more advanced placement courses and career training and give all parents especially the parents of children with special needs the opportunity to send their children to the school of their choice. because tuition costs have grown so fast we need the way to pay for higher education. i believe in federal financial aid i couldn't have gone to college without it. it's not spending more money, it's also about strengthening and modernizing them. 21th century work force should not be forced to accept 20th century cailgs education solutions. today's students are not 18-year-olds, they are returning veterans and single parents

is the consequence of moving from what's called a manufacturing economy to what's called a fire economy used to be that about a third a little over a third of our total economy about twenty percent of it is government about a third of our total economy was actually caused it was manufacturing and then you go you know another twenty percent fifteen to twenty percent that's medical and you've got you know retail portions but. we have moved from a third of our economy being manufacturing and about ten percent of our economy being finance real estate and insurance find it finance insurance and real estate f.-i our bus fire we've gone from mostly manufacturing and a little bit of fire economy to the exact reverse we are now over thirty i think it's thirty five percent or something like that is is the fire economy and only eight nine ten eleven maybe it's a lot or twelve percent is well actually here's there's the chart you can see and as that fire economy has gone up what that means is that you know real estate is is going up artificially in price because that's the new economy so everybody is ch

this problem has dogged our economy over the last few years. no one wants usk to the 110% mortgages that we had during the boom times, but we need to make available to young people the chance of earning a decent salary to be able to buy a decent flat or house with a mortgage that does not require a massive deposit. that has not been possible for people in recent years, and i think that the bank of england move on the funding for lending scheme-£80 billion-is now feeding through to the mortgage market and making available lower mortgages at a decent long-term rate. that is very important for our market. >> further to the prime minister's rather acerbic exchge

communities, even in the face of all these technology companies that are coming here and helping us uplift our economyen within that success, you hear me talking about the people who aren't getting those jobs, the people who are making decisions everyday in our streets, in our community, and i will not be mincing words -- it is in the bay view. in in the visitation valley. it is in the mission where their dispute resolution is at the end of a gun and this is the way they're talking. this is the way they're dealing with each other and then with anybody who attempts to interfere with that. you have heard me say even with the success of all of our departments and everything that they're doing i can't give a job to a dead youth no matter what we do, and so i can have the best training programs. i can have a high number of jobs available. eric mcdonald and i can create 10,000 jobs in the summer, but if our youth are resolving their differences with the point of a gun or the end of a knife those jobs are never going to be available to them. how do we interrupt that violence? i cannot put it all on our polic

on behalf of all of us at the newshour, thank you for joining us and good night. ♪ ♪ moving our economy 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thk you. captioning sponsored by macneil/lehrer productions captioned by media access group at wgbh access.wgbh.org

us back? let's streamline the process, and help our economy grow. these initiatives in manufacturing, energy, infrastructure, and housing will help entrepreneurs and small business owners expand and create new jobs. but none of it will matter unless we also equip our citizens with the skills and training to fill those jobs. and that has to start at the earliest possible age. study after study shows that the sooner a child begins learning, the better he or she does down the road. but today, fewer than 3 in 10 four year-olds are enrolled in a high-quality preschool program. most middle-class parents can't afford a few hundred bucks a week for private preschool. and for poor kids who need help the most, this lack of access to preschool education can shadow them for the rest of their lives. tonight, i propose working with states to make high-quality preschool available to every child in america. every dollar we invest in high-quality early education can save more than seven dollars later on -- by boosting graduation rates, reducing teen pregnancy, even

economy. a could cost us jobs. not just now, but in the future. what we need is a balanced approach. an approach that says let's cut would we can afford, but make the investments we cannot afford to live without. investment in education, research thomas development. -- of research, development. republicans and democrats have worked together to reduce our deficit by $2.5 trillion. that is a good start, but to get the rest of the way, we need a balanced set of reforms. for example, we need to lower the cost of health care like programs like medicare. we cannot pass the burden. these reforms must go hand-in- hand with eliminating excess spending in our tax code so that the wealthiest cannot take advantage of loopholes and reductions that are not available to most americans. 2012 can be a year of solid growth and more jobs and higher wages. -- 2013 can be a year of solid growth and more jobs and higher wages. everyone in washington needs to focus on what is right for the country, on what is right for you and your families. that is how we will get our economy moving faster. it will streng

. >> our economy used to be the fastest growing in the nation as a metropolitan area and we're in the bottom third. >> reporter: the battle lines remain the same while democrats blame republicans for not going along with their plan to raise higher tax revenues. >> and since the new congress began, they have not put forward one proposal to oppose, to prevent the across-the-board sequester. >> and i try to put myself in the place of the regular citizens who sits here and watchesy this and they have to be scratching their heads. >> reporter: republicans insist that deeper entealment cuts are needed and not more tax money. >> it's time to get serious about reducing washington's out- of-control spending. >> reporter: randy forbes said the white house is to blame for the sequestration crisis because he said that that created the mechanism -- mechanism in the first place. >> he signed it into law. for over a year from august 2011 through the end of the last year, the president did nothing to stop it. >> reporter: for his part, president obama hit the road in recent days, hoping to bring publ

economy. you likely don't need us to point out the steep hike in gas prices.he average price of a gallon of gas, $3.68, two months straight now price hikes at the pump. want to bring in "gma" host bianna golodryga. who also covers the economy for us. you're looking into the numbers, they're steep. >> and painful. look at the graphics. inr in -- in just the past week, gas prices have been up 13 cents the past month, 42 cents. these price hikes, if they continue, will cost the average family nearly $400 in addition to what they already pay for the year. >> another 400. in the meantime, do we know why they're going up? >> they're going up because oil prices are going up. but it's a puzzle as to why. but this is not a typical time where you see a lot of demand. they are transitioning to different blends. there are people who think this is speculation from investors, but there's not one clear answer as to why. >> you mentioned the blend. that usually happens spring to summer, will we see more hikes? >> that remains a concern. you're right, we usually talk about gas

we keep everybody here and that allow us to recover our economy, and everything because it's so interdependent. >> so that is a difficult goal but i think we can achieve it over the long time so thank you very much for hosting us and hosting this great exhibit, and thank you very much for joining >> welcome to "culturewire." today we are at recology. they are celebrate 20 years of one of the most incredibly unique artist residency programs. we are here to learn more from one of the resident artists. welcome to the show, deborah. tell us how this program began 20 years ago. >> the program began 20 years ago. our founder was an environmentalist and an activist and an artist in the 1970's. she started these street sweeping campaigns in the city. she started with kids. they had an exhibition at city hall. city officials heard about her efforts and they invited her to this facility. we thought it would coincide with our efforts to get folks to recycle, it is a great educational tool. since then, we have had 95 professional artists come through. >> how has the program changed over the years? how has

what does that tell us about obama's economy. a favored economist joins us next.ade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't ade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] thank you. and on a protoc

the key question for us is: how do we grow our economy so that those who come after us do better? we grow our economy by investing in our kids' education, in a skilled workforce, and in the quality of life that makes our communities magnets for talented people. though these investments are more essential than ever, making them is more difficult. we no longer finance investments by divvying up surpluses each year. rather, we figure out each year where we can save to free up resources to invest. we have done that for four years. this is the first administration in modern history - republican or democratic - to have fewer executive branch employees than when we started. we cut energy costs. we sold off fleet cars, integrated it, and cut prescription costs. we are saving almost half a billion dollars through health and pension reform. we will continue to find savings wherever they may be, but there are things that we won't do, if it means compromising public safety or turning our backs on our most vulnerable citizens. and while we want to keep taxes low - and delaware's are attractive

economy. that's going to make us grow together. that was really important.other thing that was critical wasn't--it kind of came in the end but we saw highlights all the way through. in some ways he was highlighting all of our--all of our government workers as individuals, and as heroes without really highlighting the role of government. >> cenk: yes. >> john: there was a little bit of back and forth on that that i couldn't put my finger on. >> john: i thought that he artfully addressed that. he was really calling the republican congress to task, and he delivered it without saying the word "drone" from his lips. >> cenk: i've watched a coupe of these. it's a how many of decades couple of decades following. he's going say this, he'll get credit for it. they'll propose it lose, and then they'll be satisfied that they got a vote. alexis, to your point every single president i've heard in my lifetime now, how many decades has it been, education education, education in the state of the union. yet our education still sucks. someone everybody has comprehensive educa

economy. as their wraps up the days of ends for us president putin called on the g. twenty nations to liberate what he called economic imbalances to put the global economy back on its growth track she also reminded the g twenty finance ministers of something that russia and other developing nations have been insisting on for quite some time the need to redistribute the voting rights within the international monetary fund russia's yearlong presidency in the g. twenty normally means that it will hold the summit here in the country later on in september but also that it has a unique opportunity to put the issues that it considers a putin on that summit agenda and that's quite an important mission considering that the g twenty members accounted for about ninety percent of the world's oh good old bulls domestic product and about truth thirds of its population as the group of twenty finance ministers gathered here in moscow for their meeting this week many of them want to focus primarily on chub issues fiscal health and monetary policies and that's not surprising considerin