so itecom more and more apparent that the reco act is workg, that it's about small bune, incentiv, x relief for small busesses, search andevelopment, embcing science a chnology, budigrowing and innovatn eno, the are all dynamics. that meana growing economy and cutting gedesign and for at. i tnkt's a stro ceback and nd to mainin the ur of recovery. ms. wassermaschultz:a pant of twin sixth gaders, often wonr,, what e heck are your cleagues on the other side oe aisldog. they wonderhy they only foc on the mos narr view. mrtko: i had ump nch with the other side of the chamber and shake things up. but we have been joined by our colleague from oohio, mr. bo cherrr who is doing a fan tass particular job and a real fighter. mr. boccieri: thank you for taking on the challenge of setting the record straiggt. just as an aside, a few years ago as a state legislator, i was watching c-span and you and congressman ryan were talling a few years ago and i thought wow, how neat would it be to stand beside each other. so it's an honor to share this stage with you to talk about how we get our country bac

slike my relatives who so livin my district, they're workg a lot re than 40-hour weeks e mang sure that the amerin economy keeps moving making surth ame are fed, buthey're also making sure that we don't ve to rely on foreign coues frr od like have to do when it comes to l, relying on foreign cntrior our need we need jo, we need jobs that are createdy the private sector. we don't need any government jobs that are rely just de for jobs out there. --hat are really jt make-work jobs out there. ey need relief to be ableto survivand coin to remain in business. currently, small buss employee er half the private sector workersn americ to assist small business ow, i inoduced the respoible reinvestment act. ecifally thibill focuses t follong areas that i lieve will not only help small businesses grow throughout the country but so help p our neighbors back to wo. the bill does the llowing. 20% tax cut for small businessesequal to 20 noveget tal come ofheiness. it permaly repesthe esttax or dea tax. we have to dsomeing in this cgrs cause if we do not that the deh tax will rert on to what it was yea

- thjones act, whh is supposedly about protecting jobs, iactually llinjobs the jobs ofrmen, people workg in tourism and others o live ong the gulf coast d earn a livg there ng serely ipacted. those are also additional private ctobs which are not being crd in t united statesince the jones act effectivelyrices u.s.-based companies o of the abityto be competitivon the competitive gbal market. the article sayswe strive to develop new technoloes for cleaner environment at sea, the jones t continueto hobble our own capabities, sometimes ith devastating results. the jones act needs to be waived now in ght of tsastrophe d rmit those whom we have helped and coopeted with in the past to assist us in our ne. after waiving the jos act for theulf eanup effort, congressnd the administration should repeal it altogether. and that was co-authored claude barub and i was reading direly from that posting. sure makes snse. aying want to help folks, help us help us clean thmess up it would not be that difficult. but, one of the other things we oticed in questiing the director, we fd out, well, we're going to

we cannot put them-- they should return back through reconciliation and we are workg on the reconciliation. >> what is holding that up? it has gone on for years now, and various states have tried to mediate this, but yu never seem to bable to reach an agreement does the crisis now over the flotilla create a better opportunity for you? >> there is an opportunity and only the egyptians are authorized to make the meation between us and haas, not any her arab country, according to an agreement in the arab league, and even according to a resolution here fom the security council talking out the role of egypt, and w egypt as you know or you don' know, iwil tell you, that egyptian articulated a document in the beginning of last october nd theshowed this document to hamas. hamas and principles said yes, we will accept it. after that thesend it to me. and they told me take it or ave it, cause we don want to opethis document. if you want to sign it, send it to us by te 14th of october. i said okay. i sent somebody from our side on the 14th spe of all the pressures on us not to sign from here and ther

i would like to thank those individuals who have been workg on isegislaon for close to two years on the outside, the treasury, the regulators, and all those who are fighting for reform. there is so much common ground here, am very optimistic that we are only weeks away from makingghistory and i look forward to qui resolving our differences. we have a historic opportunity to reshape how the business of finance is conducted in the u.s.. not only to do with here but to provide the leadership and example globally. to ensure both prospery in the coming decades and studied -- ansafety for consumers. to ensure that we as a nation lead the world as an example, to ensure that our regatory system matches the 21st centur innovation that exists and is able to adapt and keep pace with the innovation of the future. we are here to tackle complicated problemssand find resolutions. crisis, the american people deserve historic reform of their financial system which we are poised to deliver. i will mention a few pragmatic ways in which we can aure that wall street no wonder benefits while main street suff

[laughter] so the policy mar of the central bank and workg policy about the central bank does not haveto or cannot issue their ability to identify a bubble. thfederal bank is in the business of trying to stabilie e past of economic activity and particularly the price level. that is a judgment callas well. how do you know when t tighten or when to ease given the in precision with which the pri level is determined? what we have learned in the past four or five years or have been powerful we minded is that the financial sector and fnancial marke, ices of assets, the stock market, the market for the stocof assets plays on is simultaneously determined with real economic activity. so the entral bank ca't say we are t going to worry out what happens in a market where we determine the price of tulips or houses or gold or other things but we are going to worry about what happens to the

it is my job to make sure the committees are staffedell and we have great people of the board workg together to accomplish that. i enjoy working with ian to ma that happen. host: bill on the repubcan line from dallas. yo are first caller: thank you for taking my call. i'm a first-time caller. i woullike to ask your guest about nkamerica's role -- bank of america psible in its creation of e climate change. cap-and-tre legislation, and how bank of america, a po -- bank of america, g.e., and others will profit from what is e scam of themb in exchange in chicago. guest: i an not close to the details of the climate exchange and i am not aware of any unique role of bank of america, so i would have to pass. you ntioned cap-and-trade. the real question is not cap- d-trade vtax, but the issue is will we look at a ct of global warming a increase in temperatures and what impact will it ultimately have on the climate. the science is very, very complex. so, the awer for sure exactly howuch wi the global warming and what we all care about, what does it mean for me,o one can tell y exactly. bu we think it