increasingly for basic necessities this fluctuations in gas prices are reflected in credit card use as william simon u.s. stores chief of long art said the paycheck cycle is severe now for exactly what's not going to happen we turn to fed chairman ben bernanke the anticipated pick ups in economic activity and job creation together with the expected ease of price pressures should boast a real household income confidence and spending remember by his logic an increase in spending even if by broke ass desperate people that he despises you want to they don't have one of their credit card debts is not just good for the economy. it's a sign that we're recovering from corn of the commerce department from january to may adjusted for inflation income was down zero point one percent while food prices are up two percent and energy up eight point two percent there are a lot of checks scheduled to go out on d.-day or pre the day as the case maybe and the inflation is in the mail joining me now from nashville tennessee is author economist would be comedian we found out of the pork fest roast of south on molyneux h

endeavors he was awarded the medal of the national indiana for the humanities in 2007 and the william simon prize for philanthropic leadership in 2010. more to the point for tonight he is a voracious reader and passionate student. please join me in welcoming roger. [applause] >> you can all leave now. [laughter] >> first of all, thank you all for coming. it's really a great honor having all of you guys here. this is one of those continued evening, late afternoon programs that the manhattan institute has put on for years and years. and it's something i think that brings together many different people around this town. as you know, the institute is principally a think tank, but these programs also honor authors. authors that have produced works in public policy, but also produced great work in history. and that's what we are here tonight talk about. a great historian, someone who when i think of it as i would say is not an ordinary historian. it would be in my view the most egregious of understatements to say that andrew roberts doesn't know what the term writer's block means. prohibit me to

simon. welcome. in commissioner william servile the federal trade commission since january, 2006 and served as the trend from march, 2008 to march from 2,009. he was the ftc general counsel from 2001 to 2004 and worked for the commission from 1979 until 1983. he has been a professor of law at george washington university law school and is also called law at george mason university school of law. welcome. as you know, the testimony that you are about to give is subject to title xviii section 1001 of the united states code when holding an investigative hearing this committee has the practice of taking testimony under oath three heriot do any of you have an objection to testify in under oath? >> no? okay. the chair advises you under the rules of the house and the rules of the committee, were entitled to the advice of counsel. do you desire to be advised by counsel during your testimony today? no? if not then please comer mize -- >> mr. chairman, i hate to interrupt but one thing i would ask at least as one member here is that pictures are not taken while they are being sworn in. i know this is done but i t