mark zandi joins us.do you think that is changing, or do you think it is peculiar that half of the investment community thought we would not see a paper today? was think their message pretty clear. on that, and it provides monetary stimulus. they effectively lowered the unemployment rate threshold for interest rate hikes, and the underively added a floor inflation. on that, i think this was monetary stimulus, and that is why the stock market is up. there was reason to be clinical about the way they manage things back in september, but i think they have learned from that and have a grip on it now. >> is this redemption? >> at least for the moment. >> i think it is important at the chairman is nothing, if not nuanced and depth. this was both of those. clearly, he wanted to do this because he absolutely did want to do the hard blocking in front of janet yellen. i think he wanted to give her a christmas present, i'm not going to make you break the seal, we will taper, but we are not going to tighten. they cou

mark, zandy, annie, thank you for coming by. >> thank you.>> when we return, he called nelson mandela one of the greatest leaders of our lifetime and incurred the wrath of his facebook friends then he fired back. newt gingrich is next. [ male announcer ] this store knows how to handle a saturday crowd. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools introduce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes home happy. the united states population is going to grow by over 90 theovemillion people,earsg. and almost all that growth is going to be in cities. what's the healthiest and best way for them to grow so that they really become cauldrons of prosperity and cities of opportunity? what we have found is that if that family is moved into safe, clean affordable h

mark zandi says cutting benefits would lower the unemployment rate. the theory there mostly because many workers getting benefits would start looking for work and cease to be counted as unemployed and others would take lower paying jobs they once reject rejected. what does wall street say? do they believe this extension of the time when wall street is doing so well is not good for the main street folks out there? >> i think that the analysis is exactly right. i think part of what is going to be confusing is that it will look like the unemployment situation, labor market is getting better because of this decline in the unemployment rate that could come from workers exiting the labor force. but a shrinking workforce is not the sign of a healthy economy. we want more people being hired and more jobs being created, not people getting so discouraged they give up. >> and these benefits are coming in, two of those are attempting to find a job, the woman i quoted there, that $300 is put into the economy, grocery, gas, whatever is needed to feed a family and $

. >> unambiguously strong that is what mark zandi said of today's job report, 203,000 jobs added in novemberdropped from 7.3 to 7%, a five-year low. the white house is urging caution saying gains but unemployed corkers are driving the numbers. meanwhile jobless benefits for 1.3 long-term unemployed americans are set to expire at the end of the month. white house economist jason fuhrman said the add manage is open to working with congress to offset costs. while nelson mandela forged south african community he served for change around the globe technically in the u.s. we will discuss with the ceo of naacp ben jealous jones us. re's: if every u.s. home replaced one light bulb with a compact fluorescent bulb, the energy saved could light how many homes? 1 million? 2 million? 3 million? the answer is... 3 million homes. by 2030, investments in energy efficiency could help americans save $300 billion each year. take the energy quiz. energy lives here. >>> from his 8 by 7 foot prison cell on robben island where he spent decades of his life nelson mandela not only inspired people of south africa to

. >> mark zandi, annie lowry, kevin hasset, thank you for coming by. >>> when we return, he called nelson mandela one of the greatest leaders of our lifetime and incurred the wrath of his facebook friends. then nehe fired back. newt gingrich is next. streetline has looked at the problem of parking, which has not been looked at for the last 30, 40 years, we wanted to rethink that whole industry, so we go and put out these sensors in each parking spot and then there's a mesh network that takes this information sends it over the internet so you can go find exactly where those open parking spots are. the collaboration with citi was important for providing us the necessary financing; allow this small start-up to go provide a service to municipalities. citi has been an incredible source of advice, how to engage with municipalities, how to structure deals, and as we think about internationally, citi is there every step of the way. so the end result is you reduce congestion, you reduce pollution and you provide a service to merchants, facebook friends. ya know, with new fedex one rate you can fil

as economist mark zandi recently noted as long as lawmakers stay deadlocked over the direction of the federal budget, the economic recovery will not gain momentum. so i'm very hope thankful we can reach a deal that will provide the proaftions committee with a road map for the rest of 2014 and 2015. i've heard from a lot of small businesses in new hampshire that one of the challenges they're currently facing post-government shutdown and certainly for so many small businesses and families they were hurt by that government shutdown which cost the economy about $24 billion and they're now looking at what the potential impact in the future will be from sequestration. those spending cuts have halted federal contracts in many cases for small businesses, they've caused uncertainty that's affecting job creation in hiring, and one of the new hampshire business owners who i met with recently said you hear about why c.e.o.'s are hesitant to hire, well, this is why. this uncertainty around sequestration, around what we're going to do about a budget for the country. these indiscriminate cuts from s

let's start with mark zandi. what's your number today and why? it should be a strong report, unemployment should fall to 7.2. i don't think the trend has changed, though. we've been getting 175,000 per month for about three years, i think that's roughly where we are. i don't think we've broken out yet. i think we need stronger gdp growth. and even though we got a good q3 number, we're still growing 2%. i don't think we have enough g the, p to create more jobs. >> jerry, put this in context. let's say we get another tickdown. >> i'd pick march. i think the -- i think the fed is on course to taper. in fact, i would urge that they make a statement that the ingredients are in place to begin to taper. they'll never be an ideal time in the sense that everything is fully aligned. if you wait for that, you'll wait forever. i think conditions are right. however, i don't think they're going to do it before march because the uncertainty surrounding fiscal policy, which was clearly an issue back in the fall remains an issue. the debt ceiling issue is unresol

one of the witnesses was mark zandi, economist and advisor to the john mccain campaign grade we asked him what was the fastest way to increase the demand and get our economy moving again. he talked about three things. expand access, provide refundable tax cut its, and extend unemployment benefits. at was the way to get us back on track. today, we will hear from a panel who will explain unemployment insurance and families and the american economy and why it's imperative for this congress to move and act before the year ends. thank you, madam leader. >> we are going to go to introduction of the witnesses. i'm going to start with ms. was come into has been executive director of the law project since january 2, 2008. she has worked at the afl-cio, she is focused on minimum wage, living wage, pay equity for women. many issues we are pursuing around this country through our membership. we want to introduce each of the witnesses first or do we want to have them testify one at a time? >> we would ask you to make your statement brief so we can get to all the witnesses. >> we really appreciate

one of the witnesses was mark zandy, the economist and adviser to the john mccain campaign.asked what was the fastest way to increase the demand and employment and get our economy woving again. he talked three things, e panned access to food stamps, continue to provide refundable tax credits and extend unemployment benefits. today we hear from a panel who will explain exactly how unemployment insurance benefits families and the american economy and why it is imperative for this congress to move and act before the year ends. thank you, madam leader. >> we'll go to introduction of the witnesses. mr. laurel and i are going to share. i'll start with ms. owens who has been the executive director of the national employment law project since january of 2008, and she's seen the efforts that that institution oversee the effects of the great recession. she's worked at the afl-cio, focused on minimum wage, living wage hikes, pay equity for women, many issues we're pursuing around this country. ms. owens we welcome you. we want to introduce each witness first or have them testify one at

one of the witnesses was mark zandy, the economist and adviser to the john mccain campaign. we asked what was the fastest way to increase the demand and employment and get our economy woving again. he talked three things, e panned access to food stamps, continue to provide refundable tax credits and extend unemployment benefits. today we hear from a panel who will explain exactly how unemployment insurance benefits families and the american economy and why it is imperative for this congress to move and act before the year ends. thank you, madam leader. >> we'll go to introduction of the witnesses. mr. laurel and i are going to share. i'll start with ms. owens who has been the executive director of the national employment law project since january of 2008, and she's seen the efforts that that institution oversee the effects of the great recession. she's worked at the afl-cio, focused on minimum wage, living wage hikes, pay equity for women, many issues we're pursuing around this country. ms. owens we welcome you. we want to introduce each witness first or have them testify on

on a repeat what mark zandi said, remember he was john mccain's financial that pfizer when he ran for president, and he said that every penny spent on unemployment insurance yields a return for more than 50% on economic growth. this is just the first step. we need to raise been among wage and help address income inequality in this country. we have income inequality. but unemployment insurance is an important step in the days ahead helping to find common ground and build up the results for the american people that we would use to do on a bipartisan basis and do it very quickly. >> thank you senator reid. a very brief period of time one man has made a profound impact on the world. that person is pope francis who was recently named the time and of the year. the statement that he made about income any quality wasn't just a message to america but a message to a world that he warned income inequality leads to in his words and economy of exclusion and inequality in the globalization of indifference. it challenges all of us and it particularly challenges those of us that have been blessed wit

how does mark zandi come up with these scientific facts to prove that what he is saying is right or wrongi have no idea. from what i see, things are getting better. i wish that people had more money in their pockets. i am a proponent of raising the minimum wage. host: this is william, in the category of 51 and over. how are you? i am concerned, my social security went of $100 per month. i am a retired schoolteacher and i have a bachelors degree, masters degree, and an education specialist degree. old and i am thinking about going back to the classroom. what are you thinking about going back for? overr: i was a teacher for 40 years. i miss it. but also the money. that is william from georgia. a couple of other breakdowns from the report that was released today. it is a seven percent unemployment rate, a new number according to the bureau of labour statistics. we are asking your thoughts on the economy and if this suggests optimism, at least to you, about the economy. if you are under 30 -- up next is mike from sun city california. i put this all on barack obama. it is his philip -- it is h

. >> that's what mark zandi was saying.ou can create a class of people that will leave the workforce. just say i'm done searching for a job. i put in my time and just stop it. there's another misconception out there that this is a program for the poor. this is not a program for the poor. this is a program for the unemployed which tends to gravitate across social strat us the. we talked to someone who made six figures a year ago. and he lost his job and he wanted to get back into that business that he was in and it was a year, he couldn't find any work. he depleetd his entire savings but was living off of unemployment insurance and his wife's income. he needs to make some serious lifestyle changes. i'm not saying this program should go on forever but we're at a point where it doesn't make as much sense as people think to rip out that rug from under people. >> what do you do? what's the alternative. do you do it in perpetuity? what's the alternative to do for these people. i want to put to it josh specifically and then you ca

joining us frphiladelphia, mark zandy.is a break out number or playing catch up staying inside the 200,000 range? >> it's concluded to be a break out number. there's a little bit of juice from weakness in october related to the shutdown. this feels pretty good. i have to say i'm surprised how well the job market held up in the phase of the job market. it's good news going to next year. >> i wanted to pressure you on that. you could go two ways with this. say you know what, employers look through this. small business up 102,000. if the shutdown wasn't in effect, you could argue on the other hand if not for the shutdown, maybe could have been stronger. >> yeah, you know the way i look at the data to try to understand the underlying trend is take a six month moving average of the change. if you do that, we're still even with today's number, still around 175,000-180,000. that's the monthly job growth we've been getting three years. some periods are a little higher or lower. we're in the middle. i don't think we're out of the w

mark zandi recently said for the economy to thrive we need everyone participating. mr. speaker, corporate profits are thriving. the stock market is thriving. the top 10% of the country are thriving. according to a tax expert, the top 10% earners took in 150% of the increased income in this country between 2009 and 2011. in fact, 40% of the increase in income since 2009 was the top 1% of the top 1%. and those making at least $8 million in 2011. you know who is not thriving, pretty much everyone else. during that same time period, incomes fell for the americans and minimum wage continues to lose its value. this is not a sustainable future for our economy. as the president said today in a speech, the combined trends of increased inequality and decreasing mobility, poses a fundamental threat to the american dream, our way of life and what we stand for around the globe. democrats have proposed a solution. and we are honored to have the president's banking. fair minimum wage act of 2013. this bill which has 150 co-sponsors in the house of representatives would gradually incre

mark zandi, a noted economist, estimates that for every dollar that we put into the u.i. program, we get about $1.70 or or $1.60 in return with economic activity, and it makes sense. people who are living without their source of income when they take this money, they go to the store, they put food on the table, they pay rent, they pay heat up in the northeast where the president pro tempore presides. they're not stashing it away. they're putting it right back in the economy with other money they have, in some cases, and as a result this is a wise economic policy as well as a humane and decent policy. now is not the time to let this program expire, for individuals or for the economy. we have to extend the u.i. immediately. december 28 is the day it stops. it's a cliff. people are off the program. and then throughout the year, as people exhaust their state benefits at 26 weeks, they fall off because there's no unemployment insurance program. and this is an economy where we are just beginning to see some recovery. last month's numbers suggest that about a 200,000 -- suggest