tv News Al Jazeera October 10, 2013 7:00am-9:01am EDT
♪ . >> pressure mounts. president obama invites house republicans to the white house as talk of a political compromise takes shape. libyan drama gunman storm the hotel room of libya's prime minister arrest him and seize the moment. russian reunion, edward snowden's father arrived in moscow for a meeting but his sons whereabouts are unknown, and legal status remains in doubt. climate change, how global warming helping contribute to an exploitation in the jelly fish population, and a shut down of a nuclear plant.
welcome to al jazeera america. we have breaking news out of libya. after being held against his will for several hours the country's prime minister was set free a short time ago. he was snatched at gun point in his resident. we will have complete reaction to this still developing story in just a few minutes but first we want to begin in washington, it is day 10 of the government shut down, and there may be a glimmer of hope on the horizon. in just a few hours president obama will host a group of house republican leaders. there are reports the g.o.p. is preparing a proposal to raise the debt ceiling while keeping the government shut down. it is expected to be a topic of conversation at the white house this morning and that's where randall pinkston joins us. has there any reaction on the situation in libya. >> so far no.
however we have been hearing from secretary of state john kerry's spokes men, kerry travelin traveln the far east, his spokesman is saying that the u.s. is looking into the reports of the kidnapping and subsequent release of the libyan prime minister. we are in close touch with senior u.s. and libyan official oz. ground. of course, what is going on there is that the rebels, the people who grabbed him are believed that the u.s. colluded in this past weekend's snatching grab of an al quaida leader who was suspected in the embassy bombings back in '98. >> and we will have more on libya in just a few minutes. let's get back to the shut down and the debt ceiling. talk about this meeting between president obama and house republicans. who is going to be at in meeting and maybe more importantly who won't be there? >> we have seen a new kind of urgency in the past few days on the part of both of the white house and congress. to deal with the debt
ceiling, president obama saying he would be looking at the possibility of a short term raising of the debt ceiling. senate democrats have not wanted that, and he invited the entire republican cob cues to the white house, to talk about it. but speaker john baner decided that he didn't want to send all of the republicans and so they have 232 to 18. baner spokesman saying a meeting is only worthwhile if it is focused on finding a solution that's why the house republican conference will instead be represented by a smaller group of negotiators including the elected leadership and certain committee chairman. what is not clear here is whether in fact, baner will also deal with the debt ceiling short term debt ceiling deal, but reopening government. on that score, president obama reopened his call yesterday. >> if mr. baner wants to put a vote to the floor to make sure we reopen
our government, and america pays its builts i'm confident it would pass. >> but so far, speaker baner has not done it. >> our randall congressional showing a new willington negotiate. >> we believe there's obvious some new willingness to negotiate, certainly over the debt ceiling. keep in mind, that democrats wanted a deal that would get them past next term's midterm elections. president obama is now saying well, let's go for short term to deal with these fiscal issues that the republicans say are so dear to their hearts. so the democrats are, of course, going to do what the president wants. and yes, a willingness to negotiate over raising the debt ceiling but not so much over reopening government at this point. >> and i understand treasury secretary lou is scheduled to testify in the senate today. >> yes, secretary lou is
going to restate what he has been saying. saying that it could lead to catastrophic economic consequences. >> hopefully the senate and is house will hear that. of course w will be following the hearing with lou, more on that. veterans and families of active duty troops are being put at risk by the shut down. the house passed a bill to restore death benefits. burr it is unclear whether the senate will take up that measure. on wednesday, the chaplain who is a retied vice admiral made an appeal in the open session. >> lord, when our federal shut down, delays payments of death benefits to the families of children dying on far away battlefields.
it's time for our lawmakers to say enough is enough. since the shut down starting ten days ago, more than two dozen military families have lost their loved ones. a private foundation has had to come to the rescue with money and support. >> a casket draped with the american flag, containing the remains of private first class cody patterson, one of the five american troops killed in afghanistan over the weekend. defense secretary making an unannounced appearance to this sol lemn ceremony at dover air force base. but many americans feel the fall out from the shut down is treating the families of fallen service members with little dignity, that's because the families of american troops killed in action, are not receiving the $100,000 in emergency debt benefits typically
paid out within 36 hours to hippy far costs like funeral services. the mother of marine lance corporal jeremiah colins also killed in afghanistan, and returned home in similar fashion on monday. >> for is sacrifice that our kids are making at the age that they are making them, i don't understand how this can be a benefit that's with held. i won't ever understand it. >> retired colonel agrees. he is a family friend of sergeant patrick hawkins, another weekend fatality in afghanistan. colonel brooks says the government has a responsibility to take care of these families and service members give their lives for their country. >> and i think our government out to serve those that are fighting particularly somebody like sergeant hawkins who has his true test to the line. >> since the shut down began, 26 members have died none of their families have received the funds the bad press
has forced the defense department to scramble. they are now relied on a nonprofit called the fisher house foundation to pay out benefits. >> i am hopeful that this will be a temporary measure and not a long term, but we are in it for as long as we need to be. >> defense sek tave says his department will reimburse him for the doses he also expressed his personal outrage and embarrassment over the issue and is urging congress to restore funding to federal government. >> workers at all of the country's national parks are furloughed. so one man decided to take matters into his own hands. literally. over the past few days chris cox has been doing some landscaping in neglecting areas around the national mall in gnashed. he says he isn't motivated by politics he just want to clean up.
>> serves as a moral compass not only for the country but the world. and over my dead body will we let this detearuate. >> the south carolina man also emptied trash cans clears dead leaves and cut broken branches. his work has not gone unnoticed, park police have asked him to stop mowing and ordered him to leave. now to our other top story, the unusual production of the prime minister of libya. after being grabbed at gun point and held against his will for several hours he was just set free a short time ago. libyan prime minister was seized by armed men from his resident in triply overnight. al jazeera has learned he was taken by the libyan revolutionary operations chamber. this pictures shows the prime minister in captivity. the incident comes just days after he appealed to western leaders asking them for help to combat
lib wants using libya as a base for exporting weapons. the militia was one of several groups angers by u.s. special forces. captures a suspected al quaida leader, for involvement in the african embassy bombings. so, who are the men who brazenly seize libya's prime minister at gun point? as al jazeera reports the group has tied to the military. >> a grainy image, reportedly taken during his abduction from a hotel in tripoli goa night. >> he was taken by a group of armed men. >> a group calling itself the libyan operations chamber told al jazeera they carries it out under the authority of the justice ministry. and accuses the prime minister of bribery dating back to september. >> they say he issued
checks to military guards who had been blocking an oil refinery in east libya, access to oil is crucial to libya's post revolutionary recovery. the minister of justice confirmed to al jazeera that sudan had been taken by force. the general prosecutors office said they have not issued an arrest warrant, which would have been standard procedure if the government has asked for his detention. he spent three decades in exile after defecting from muammar gaddafi's regime. he works as a human rights lawyer before his return for libya. a year ago, he was appointed prime minister. >> but two years after the revolution that topped gaddafi, he remainmains in a state of confusion. including fighters in the east who have been
pushing for greater awe ton my. that castle on the right has been hampers isle production, and without that revenue stream, libya is struggling to rebuild. al jazeera. >> and let's turn now to al jazeera mac mood, he is covering the story from libya. >> immediately after the prime minister announced that it was kidnapping crime, immediately after that statement we heard from the press of the prime minister that he has been released, we also heard from the head of the joint operations in tripoli he confirmed that the prime minister was released we tried to get into the cabinet, they did not let us in as the plate is surrounded by heavy military guards but we are trying to get more details in the coming few hours that
would be more press conferences. there could have been negotiations but they did not tell us about that may be held secretly, but in all cases the joint revolutionary chamber that is responsible for taken or holding the prime minister announced that they took him to the criminal department on account of financial corruption. but i think that the release may be taken at the situation to another pass in terms of negotiation between the ministry and the revolution. >> al jazeera in tripoli, and joining us now to give us more context is oliver miles.
he joins us from axford. even though the prime minister was released just a few hours ago, is it fair to say that this incident show as government really in crisis. >> yes, i think that's fair. i'm not sure that crisis the word i would choose, but the fact is that the government is weak. in connection with the abduction of your report mentioned. we have had recurring proof that things are not functioning properly in libya, the government isn't in control. they are ding their best to get in control. but you still have a situation where there are a lot of groups of people, so called militias who are forcing the revolution, who take credit for having got rid of gaddafi, but have never really been integrated into the central authority in
libya, and remain semiautonomous. most of them not in conflict, but asserting their independent. >> i help us understand how something like this could happen, the prime minister, simply taken at gun point from his resident in the dark of night, what does it say about the security situation in libya. >> well, what it says is that security in libya is in the hands of a whole number of semiindependent militias. they are not in revolt against the government, but nor are they fully in control, and we have incidents not quite so dr. dramatic as kidnapping the prime minister, but a couple of weeks ago, there was an incident where one burglar militia thought they had an agreement against the government. they also interrupted from time to time oil installations and preventing the export
oil, which is vital to libya. these issues were mainly to do relatively small problems like the fact that people haven't been paid which is a small problem to me or you, but a big problem to the individuals concerned. they asserted themselves by taking on action. it looked rather as though that's what happened in this case. i imagine the release followed some kind of negotiation. >> strange developments indeed, joining froes the u.k., thank you, sir. >> lon snowden is in moscow to see his son, edward snowden was granted temporary asylum after spending a month in the moscow airport. he says he has had no direct contact with his son, he was met at the airport by his son's russian lawyer. >> i am here certainly to learn more about my son's situation, and i am thankful, extremely thankful again to the
russian people, president vladimir putin, and you and your staff for the support they have provided my son. >> lon snowden says he doesn't think his son has been leaking any new information since being granted asylum. he is wanted by u.s. for revealing details of the country's surveillance programs. egypt's foreign minister said the u.s. decision to sup spend a portion of its annual aid is wrong, and that it will not surrender to pressure. the decision from the obama administration comes three months after the egypt overthrew president mo hamed morsy. hundreds of millions of dollars has been held back. the u.s. has been providing $1.5 billion in aid every year. morsy and 14 others will be tried for allegedly inciting the murder of protestors last december. morsy's legal team
reacted with surprise. they haven't met their client, and don't know where morrisry is being held. >> i don't think the judge even knows where he is held. >> morsy's lawyer says he is afraid justice will not be served. well, it's sentencing day for former detroit mayor. he is due in federal court after being convicted on more than two dozen charges. kilpatrick is expected to receive a long sentence after creating a pay to play system. prosecutors are asking the judge to give him at least 28 years in prison. the defense is hoping for 15 years or less. well, it may be an early october, but the west is dealing with more winter storms. good morning. >> good morning stephanie, yes, they are
looking at snow today across portions of the west, take a look at the map. across the southwest, we have snow across the sierra, now that snow is making its way into portions of utah. right around the flat, that area along, i 17, if you are traveling today you will have to deal with snow. be careful if you are traveling out there. the front will continue to push in the chance for severe weather across portions of the plains. as a matter of fact, all the way from rapid south dakota down into amarillo texas. hail and even the chance for isolating tornadoes it is fall and this is typically what we see at this time of the year. take a look at the storm as it continues to spill the moisture. los angeles had to deal with a couple of showers yesterday, i think today we will be in the clear, just mostly cloudy behind the system as it continues to much east, but we do have winter storm warnings in effect. across portions of utah so if you are traveling around that area, use
precaution. one thing the storm is going to do is cool down tremendously. expect temperatures to be in the 30's, you can see how strong the storm is as it brings the moisture in off the pacific. for the next couple of days conditions will be improving. seth two on friday, saturday up to 73, when i come back later in the hour, i will tell you about the storm that continues to bring heavy rain along, i 95, right around the mid atlantic. >> the judge on the movie theater massacre trial expects the jury selection to be a difficult process. how long he says it could take to find 12 jurors. >> searching for more victims why that factory may have tied to a major u.s. company. and one day after the first female is nominated we will come how far women have come in breaking through the
jury selection could take months. jury selection will start in february and it may be another three months before 12 jurors are selected. holmes is accused of homing fire in a packed heatner the denver suburb of aurora, killing 12 people and injurying 70. time for a look at business news. warm street is becoming more hopeful. good morning. >> good morning. in fact, investors around the world are crossing their fingers today. wall street they are actually optimistic that a deal may be coming through. stocks are soaring.
about the country running out of cash next week. the 6 market was mixed but the dough both avoidedded a three session loss, posting modest gains. suffering its worst losing streak in more than ten months. stocks are rebounding to a one day low. posting back to back and 1% gains. wall street appears to be just standing stim, looking to see if federal lawmakers can come to an agreement on the u.s. budget. this morning all attention will be on the treasury secretary, who is expected to give a strong warning about reaching a deal on the debt ceiling. >> he has been doing extraordinary measures for the longest period. he is clocking 140 days of extraordinary measures by which i mean he is rummaging around, trying
to find money in different places. this is worse in 2008, this is worst than the last we played in game in 2011. >> next thursday is the day america runs out of cash to pay pay its will. the government will be reporting the number of jobless claims last week, this report may have added wait because the labor department could not produce the more influential report. weekly claims are compiled by the state, the labor department, mostly just adds up all the numbers. new claims have been dropping as companies pull back from layoffs are expected to rise in this report. and good news in the housing market, new data shows fewer u.s. homes are on the path to foreclosure, reality track says the number of foreclosure actions initiated in the last three months are at a seven year low. fewer homes entering that pipeline should mean fewer properties actually
lost to foreclosure. >> that is good news. as we get closer to this october 7th deadline -- >> all u.s. treasuries that ex-bier that come due on october 17th and days right afterward, they are selling at a discount. the one that people are paying most attention to are the one month t bills. we have heard that fidelity investments has been quietly unloading government debt within its money market funds. >> what is the significance of fidelity doing that? >> it is quite significant. this is one of the largest hold errs of assets in the united states. your 401 k plans are within this particular company. so when they sell, everything is quietly also selling we are talking about syringe investors. now on the flip side when you have a seller you have a buyer. pimco is saying we will buy everything fidelity sells because the
interest rate on that debt is rising to its highest point in years. >> makes sense, thank you so much. a deadly fire at a factory in bangladesh is putting a new focus on worker safety. it's one of the most powerful and influential jobs on the planet we will take a closer look at the soon to be fed head janet yellen. and how far women have come. the number of jelly fish in our nations that's being blamed for the boom, and how countries around the world are dealing with it. >> i'm john henry smith, one team played like they have been there before, because they have, details ahead in sports.
jazeera america.to al these are our top stories. there could be a deal in the works in washington. republican leaders are meeting with president obama at the white house this morning. there are reports that g.a.p. will float a plan that would raise the debt ceiling temporarily, but would not end the government shut down. the u.s. is suspending hundreds of millions of dollars in cash and aid to egypt. the decision from the obama administration comes three months after the military overthrew mo hamed morsy. and libya's prime minister is a freeman this morning. overnight armed gunman kidnapped him whether he was staying. they released him several hours later. the abduction of prime minister may be linked to last week's raid, when u.s. commanders grabbed an al quaida leader in tripoli. a deadly fire in a clothing factory has brought the topic of worker safety to the forefront. ten people were killed in tuesday's late nate
blaze. six mondays ago another factory building collapsed. craiglessson has more on how an industry worth $20 billion is looking to provide protection to its workers. >> as the embers continue to shoulder, fire investigators thursday begin sitting through what was left of the factory on the outskirts of bangladesh's capitol. ten people were known to have died here, their bodies burned beyond recognition, and there are fears the death toll could rise. 50 others were injured. investigators are trying to determine what caused the blaze. when the fire started 170 workers were inside the building. this is what confronted them. the fire burned for ten hours before it was brought under control. on thursday, family and relatives wait outside the news of loved ones still missing. bangladesh earns $20 billion annually from exports mainly to the united states and europe.
that counts for two-thirds of total exports. but it comes at a high price. conditions are well below international standards. labor is cheap. many workers are forced to live in dorms. in april, the conditions were exposed globally, after more than 1,100 people died when the plaza factory building collapsed. last november, 112 people died in a separate fire which reveals urge authorized sun contracting involving western companies. >> craiglessson joins us live in hong kong. thank you for being with us, what is the latest into this investigation? >> well, they are zillion sift through the rubble as was mentioned in the package, and they still looking for people missing as we saw. relatives are still waiting outside to hear
news of family members that went to work and haven't come home. that presents a lot of problems. they don't know what has caused this fire, they expect that a boiler was involved although one factory worker said one of the machines cut fire and it had been a problem in the past, and they had to put that fire out. this time it got out of control. >> among them are american companies that those that buy clothes would recognize, what are those companies and what does this do for workers. >> well the reporter found among the chars remains in the factory a work book that showed that some international companies were clients of the company that owned the factory, among then gap u.s. company, a british company next, h & m a european company. and french company karf objectionr.
that i say they didn't have garments made there, but they had placed orders with the owner. 24 placed the onus on western brands to make sure they do the right audits. that means they send representatives to make sure that safety standards are of international standards and they are complying with these international standards. so north for that to happen, only four of those are u.s. companies that the two well known one are amber com by and pitch. that ensures that these brands underwrite the safety, and that the factories themselves ensure they comply with certain standards otherwise they lose their agreements.
president obama has announced his choice for the next fed head. janet accepted the nomination on wednesday. patty has more. >> we have seen the u.s. president parade his nominees before, but not like this. and never for this job. janet is officially barack obama's choice to chair the federal reserve, the first time a woman could be the top bankner the wrights. >> we have mandate the federal reserve is to serve all the american people. and too many americans still can't find a job, and worry how they will pay their bills and provide for their families. opinion confirmed what she says won't just effect it for americans but people across the globe too. >> it's not only for the united states, we are the most powerful economy in the world. we are in a global economy, so the rest of the world is watching
very closely. >> one of the first and most important decisions when to stop the policies she helped create. the u.s. is printing money in order to keep interest rates low. any talk of slowing that down has had huge impacts on the currencies of other markets. when compared to herb peers, she has had the best record on predicting where the economy is headed. her focus is expected to be more on creating jobs and less on inflation. and she is expected to take steps outgoing fed chief didn't. >> janet yell len is expected a to take regulation much more seriously. and second, be far more willing to actually regulate. >> yellen is one of the few people that predicted the last recession, once she is named chairwoman of the federal reserve, her job will be to spot the next one, be uh to try to stop it. >> .
>> as we have mentioned as confirmed by the senate, yellen would be the first woman to lead the fed. it is one of the most powerful jobs in the world. to help us take a closer look, how far they have come, how far we still have to go, we are joins by carol forlinger a training and consulting firm. thank you for being with us. so never mind she is currently vice chair of the fed, she is an esteemed economist, the headline on this story has been first woman at the fed, is it time that we go beyond these gender distinctions when we are talking about these stories. >> welt, we certainly would hop so, unfortunately, however, the numbers are not really where they should be. given how many women are would recollecting on the top levels. >> especially i feel in this industry, the national journal wrote in
an article yell len is likely to continue a dished line of female really tor whose have demonstrated a striking degree of vision, courage, and integrity in taking one of the most chauvinistic of industries on wall street, is wall street the last bastion for women leaders? well, i think generally speaking the tradition nally -- law, wall street, and some others engineering for example because they are typically considered blue jobs. as opposed to pink jobs. there is an expectation that the beam in leadership will be met. and so i think we are seeing janet yell len have an opportunity to continue her distinguished career, and to really blaze the trail for other women. of course that put as lot of pressure on her. >> i should say the head of this network happens to be a woman. right a little more than
50%, are female, yet if you look at the figures women make up less than 18% of the u.s. of representatives. >> what's wrong with this picture? >> one of the things is that it take as lot of money to run for office. especially federal office, and people really have trouble raising that kind of money. and particularly women. but there are organizations that really are helping women to understand that it's time to step up to leadership. my personal opinion is that now more than ever, the u.s. congress could benefit from a few other women. >> and of course, we are talking about the possibility of a woman nominee. for president in the next election, let's talk about the u.s. labor force. force. women make up four .9%, yet a mere 4.2% are ceos.
eight per are the top earners and a little over 14 are executive officers. what's holding women back in the corporate world, and who is to blame? >> well, i think that what we are seeing these days is that the work place is no longer dominated by people who are intentionally doing bad things. i.e. sexual harassment, and discrimination, what we are seeing in many ways more insidious. because it basically speaks to the way things are. for example, there's a regularly scheduled staff meeting for 6:00 p.m. and so what tends to happen, is that because women tend to take on more of the share of
family related responsibilities, that may mean a particular woman has to make a choice. should i attend the staff meeting or should i tend to the other responsibilities in my life. and either way, it's not a good choice. >> i certainly have had to make that choice in my personal life, so where does the change need to come from. is it pressure on companies is it pressure on legislation. >> well, i think what we need to see at this point is really legislation is in place and it has not enough. both men and women need to understand how these gender biases effect men, women, and business. >> it effects society as a whole. thank you for joining us this morning. >> thank you, stephanie. >> a former police officer is dead after opening fire at a federal courthouse in west virginia. authorities say the retired officer shot up
to 25 rounds at the wheeling federal building. the gunman was shot by police and later died. the gunman's identity has not been released but the police chief has confirmed that he did retire from the wheeling police department in 2000. a upcover police detective is charged with assault and criminal mischief for his role in a new york city biker attack. he is accused of punching out the window of an suv. video was caught on tape, and it went viral. his attorney claims he did not attack the driver who was pulled from a range rover and beaken. several others have also been charged. >> well, it was winner take all in st. louis last night, john mchenry is here with sports. >> good morning to you. plant you grew up loving a team, imagine you grew up to play for that team, imagine you came up to bat in a game that would end with the loser going home for the season.
st. louis native doesn't somewhere to imagine it, lived it. before he launched his third in the second inning wednesday night against the pirates talk about living the dream, his blast put them up 2-0 on the pirateds and their rookie pitcher. he struck out five and gave up only three hits in five innings of work. adam wainwright he was better. he would be for win wednesday night, would make wainwright 4-0 with 4 saves in his career. how about a little run support. then in the 8th, pittsburgh native who grew uprooting for the pirates ensured he will need a disfamilies guise when he goes home. that could safely be call add commanding lead. he finished with a complete game.
the cardinals win, they will face the dodgers probably the most nervous i have ever been, i don't get a whole lot of nerves when i push, but before today i was nervous. hard not to think back, i wanted to prove i could be a good playoff pitcher. i am so fired up right now. fans were rocking today, and i am fired up to be here. >> once you are able to locate your curve ball, seems like you can do what you want. when kid you get to the field. >> well, pretty early on. they said in the media they were going to try to not swing at anything i threw. i guess i had to go out there and prove i could throw it for strikes. one more for baseball's final four will be decided tonight for a win or go home game 5. the brilliant pitchers from game two will square
off again. sunny gray taken by for 20 strike outs and zero runs allowed in their meeting last saturday. the new york yankees say they have agreed to a four year contract extension. he is now slated to lead the yankees through the 2017 season. while the yankees did miss the playoffs this season, for just the second time in geralddy's six year ten year, he was able to guide a roster riddled with injuries and distracted by the alex rodriguez saga. the yankees have the best regular season record in the majors and a world champion. confirm that the reds have spoken with paul o'neal. while o'neal spent his last nine years in the bronx, he spent his first eight in cincinnati, where he also won a world champion. the chicago black hawks they are your defending
champions. and the st. louis blues are playing like they want to dethrone them. wednesday night's match up figures to be a good one. now can i just say, we can put a man on the moon but can't get the camera lie enough -- just saying. scoring with a wrister, 1-0 blues and then 1-1 in the second. when t.j. goes and more. bacchus tips it in, power play goal puts it up. down, down, less than one minute later. st. louis trying to change that with less than 30 on the clock, oh, to heck with it, let it fly in the gate way city. into the basket for the game winner with just 20 seconds to play, the blues win for their third straight win to start the season. and thursday night football tonight, featuring a desperate for a win, taking on the bears and that stephanie
is your morning sports. >> we are watching live, a live picture of long distance swimmer. 264-year-old is said to hit the 48 hour mark this morning. the nonstop swim in new york city is raising funds for victims of hurricane sandy. as of right now, she has raced over 100,000-dollars in donations. just last month, she complete add 110-mile swim from cuba to key west florida. she is the first person to cross the atlantic without a shark cage. a tropical cyclone is threatening eastern india let's brick in our meteorologist, good morning. >> good morning, stephanie. this system has the potential to be very life threatening p p moving at about eight miles per hour. there's a lot of factors that are in favor of this
storm. given the fact that we do have low wind sheer, we do have rapid intense fidelity case over the very warm waters. it continues to push as i said north-northwest. now the storms are catastrophic, given the fact that a lot of refugees live right along the boarder here between bear ma and my ma mar. let me give you an idea of how big this system is. as it continues to push northwest. in addition to that, the confection of the thunderstorms that are really building across the area of low pressure, or strengthening so the joint warning center in addition to the indian meteorological didn't all agree that this storm will intensify as it continues to push north-northwest, we will continue to monitor it, we expect it to make land fall on saturday, as of right now, heavy rain is pushing in, and folks are already having trouble making their way around
town. we are also seeing a bit of heavy rainfall. we have an area of low pressure, not a tropical feature, but really a strong area that has been stationary the last couple of days. it continues to bring rain from baltimore all the way down into the virginias. we will continue to see that storm lift fourth entire the north. and it's going to make a slow go for folks traveling all the way from portions of new york city, down into the virginias and portions of coastal north carolina. so if you are traveling there, want you to use precaution on the roadways and we will see heavy rain spread into philadelphia, pennsylvania, traveling there, use precaution, i think we will get a break on into monday. meanwhile out west it is snowing, yes, it is snowing.
one thing this system will do is cool it down tremendously. 75 in phoenix, fall is certainly here, and los angeles we have had a bit of range to contend with yesterday. but the sun is going to come out on thursday, and will reach a high of 68. hard to believe on saturday and sunday of last weekend. temperatures were in the 90's. that is hard to believe. >> a medical break through, researches reach a turning point on the fight against alzheimerss. and other diseases. >> . >> and the master of the contemporary short story wins the nobel prize for literature. and what is behind the explosion of jelly fish, around the globe.
landmark discovery.t as a well, the sting, they clog pipes they threaten fisherman's lively hood, and their numbers are growing. andrew thomas tells us more about a serious jelly fish bloom. >> it was an infestation that closed anuclear power station. jelly fish. clogging the pipes into the reactors cooler. but last week's incident could become more common, as the number of jelly fish in the word's oceans and seas seems to be on the rise. and balloons are occur more and more frequently. no one quite knows why, but warming of the world's oceans may be to blame as well as overfishing. >> fish markets like this one claim all their catches comes from sustainable grounds removing fish will not deplete the overall stock. when first are taken that can have unpredictable consequences.
on thursday in australia, will meet to consider a new quota thought safe, to is sustainable of that fish. it doesn't address directly the impact on others. >> fish and tuna are one of the top in our oceans and this is down at around 5 of what its original size was. so it must have had an impact. what exactly that is, it's really hard to establish. marine scientists have come one a way to fight the jelly fish directly. that sucks the jelly fish in, and spitz out their remains. it's gruesome, and will only make eight tiny difference overall numbers. >> it is that classic band aid on a problem. where you need to look at what caused the -- or try to establish what cases that bloom in the first place.
>> only tackling the underlying causes whatever they are, will really address the explosion. >> here at sea, aquarium it's sharks and turtles that people rush to save, but in actual oceans it is jelly fish like these that you are more likely to come across. >> scientists believe recent global warming caused by hue manages along with other factors has created ideal conditions for jelly fish. at the end of our first hour here is what we are following. libyan's prime minister has been set free, after armed men grabbed him overeight, the group was apparently anger bid u.s. raid in trip folly. house represents are meeting with the president in white house, they may float a plan to raise the debt ceiling but the government will remain shut down. and the father of nsa leaker edward snowden arrived in moscow for his first visit with his son since the former
government contractor fled the u.s. >> a hometown boy made good for the cardinals, again. coming up the next hour in sports. >> and a new storm continues to bring heavy rain. i will tell you where and how it will effect you in the next hour. >> al jazeera continues, we are back with you in 2 1/2 minutes you can always get news throughout the day online at our website aljazeera.com. tomorrow night, from lucrative defense contracts to behind the scene lobbyists.
as talk over political compromise in the debt ceiling is taking shape. libyan drama, gunman storming the hotel room of libya's prime minister, they rushed him and then seized the moment. russian reunion, edward snowden's father arrived in moscow for a meeting, his sons whereabouts are still unknown and his legal status remains in doubt. and signs of displeasure over that military crack down in egypt, the u.s. temporarily suspending hundreds of millions of dollars of aid to that country. >> after being held
against his will for several hours, that country's prime minister was set free just a short time ago. first, we want to begin in washington. that is where it is now 10 of the government shut down, and there may be a glimmer of hope. in just a few hours president obama will be hosting a group of republican leaders. there are reports that g.o.p. is now preparing a proposal that would raise the debt ceiling temporarily, while keeping the government shut down. it is expected to be a topic of conversation at the white house this morning. pinkston is in washington for us, randall, has
there been any reaction on that situation in libya. >> not yet, at least -- dale, at least not from the white house. we are getting reaction from secretary of state john kerry. the spokesman saying we are looking into these reports and are in close touch with libyan officials on the ground, and as we now the people that snatched the prime minister were upset because they believed the libyan government had some cooperation of the u.s. had cooperation with them, for that snatch and grab of the suspected al quaida terrorist this past weekend. >> randall talk about this meeting that will be taking place between president obama and the republicans from the house, i guess the question is who is going to be there, and who isn't. >> well, this is the latest in a series of meetings that have been taken place on capitol hill and at the white house. a this is meeting president obama had invited all 232 members of the republican caucus
in the house of representatives, but house speaker john baner decided not to send everyone. he is only going to send a representative book of about 18. a spokesman explaining why he rejected the president's invitation to all of his members saying if -- a meeting is only worthwhile if it is focused on finding a solution. what he is not discussing so far is whether there's a willingness to move on reopening the government. the president still is asking baner for a continuing resolution tock brought to the floor of the house for a vote. >> speaker baner wants to go ahead and put a vote to the floor, to make sure that we reopen our
government, and america pays its bills i'm confident it would pass. >> all 200 in the house, if in fact baner would bring it to the floor. so far no acceptance of that offer by speaker baner. are there strings attached? >> at this point no stringed attached. we know the democrats wanted a long term debt ceiling raising of a deal, because they don't want to have to keep coming back and forth and back and forth. as the clock ticks towards the debt ceiling limit, and the threat of economic calamity facing the nation and the world, president obama has signaled a willington negotiate step a short term deal, and the democrats are going to probablily go along with
that. you don't want to reach the point where you run out of money. to ahow america to continue to pay its bills. while the democrats and -- the president and leadership will talk about reducing the deficit. and possibly, modifying the affordable care act removing that tax on medical devices. >> randall pinkston joins us live. thank you very much on a rainy morning and of course we will be following the senate finance committee hearing with that secretary coming up. veterans and families of active military duty troops are being hit especially hard.
the house passing a bill to restore death benefits to families of fallen soldiers, but still not clear whether the senate is going to take up the measure on wednesday the senate chaplain who is a retired vice admiral made an appeal in a prayer that opened the senate session. >> lord, when our federal shut down delays payments of death benefits to the families of children dying on far away battlefields. it's time for our lawmakers to say enough is enough. now since that shut down started now ten days ago, more than two dozen military families have lost their loved ones. and workers at all the country's national parks are furloughed including the maintenance staff. so one mind decided to take matters into his own
hands. >> the building behind me serves as a morale compass not only for the country but the word. and oh my dead body will we let this deteriorate. >> also emptying trash cans clearing away dead leaves and cutting broken branches. his work has not develop uno tied park police have asked him to stop mowing ordering him to leave. well, now our other top story which is that unusual abduction overnight of a prime minister of libya. after being grabbed at gun point. he was now taken be
fidelity libyan operations. that is a malaysia, that operates under the military. that incident coming just days after the prime minister appealed to western leaders asking them for help to combat militias using labial as a base for exports weapons. the u.s. sited his involvement in the african embassy bombings. ed sword snowden was granted temporary asylum by russian authorities after spending a month in the airport. he has no direct contact with his son in recent months.
i am extremely thankful to the local people. and his staff for the support they have provided my son. >> lon snowden says he does not his hi son has been leaking enany new information since being granted temporary asylum. #ed ward is wanted by the u.s. for revealing details of the secretle pas. former pakistani president has been granted bail and is now free to leave pakistan as early as today. the ex-army chief was arrested earlier this year on multiple charges including the killing of a separatist leader and the assassination. he stepped down in 2008 and was in self-imposed exile. he returns to pakistan in march, and has been living ever since under house arrest. it is sentencing dade for former detroit mayor. he is due in federal court after being convicted on more than two dozen charges. that range from bribery
and extortion to tax evasion. kilpatrick is expected to receive a long sentence after creating a pay to play system, for those doing business with the city of detroit. prosecutors are asking the judge to give him at least 28 years in prison, the defense is hoping for 15 years or less. parts of india bracing for a tropical storm. for more on the forecast. >> good morning, we continue to monitor tropical cyclone which has intense fied quite a bit. we expect it to continue to intensify. when they are this in atlantic, we refer to them as hurricanes. this would be the equivalent of a category i hurricane. currently we expect it to isn't to strength. there is a consensus between the typhoon warning center, and the meteorological didn't that this storm will
continue to intensify. and the reason for that is there's very warm water here. one of the primary ingredients low relatively a low wind sheer. you can see the low pressure, that is the thunderstorms continue to strengthen and really tighten around this area. relatively above 100 miles per hour. in addition to that as we see gusts around 155 miles per hour. very life threatening storm. making it difficult for folks the travel already, we will continue to
monitor it. as what they are describing as a very daunting task. >> health officials in louisiana warning resident there is about a deadly amoeba, they are taking steps now to keep residents safe. and president obama names his pick to be the next head of the federal reserve, we will see what janet jellen has to say the state of the recovery. >> others are looking to cash in on those fears. i will tell you what is happening behind the scenes as the boar owing limit deadline approaches.
return to washington and bring you his testimony. live. >> elsewhere weapons inspectors in syria say they have now gone to three sites across that country, members of the monitoring team are working on a very tight deadline trying to destroy syria's chemical weapons. they want to visit more than 20 sites which may include crossing through conflict zones. the u.n. says it hopes to orchestrate the cease fire to ensure their safety. we want to go to our correspondent, and the weapons inspectors now have to meet that first deadline, november 1st. how are they down so far, and is that deadline they believe realistic. >> as you know the organization has to first destroy the facilities where chemical open withs are produced and mixed. that's the first priority. so as to stop and to crush the heart of the chemical program in syria. and they have only until november 1st to do that.
after that they will be moving to the other sites where simply the weapons and being stored and they have to clear those by the middle of next year. so there are two very tight deadlines and according to the organization, these deadlines are feasible. they are attainable if the security situation is suitable enough for the inspectors to carry out this work. in the parts of syria where they are working they remain undisclosed under the agreement with the government. this is a very tall task for the inspectors they have to travel through rebel held areas. may al have to work near combat zones. so if the security situation is not good enough, their work is going to have to be delayed. they say that so far the
syrian government has been constructive cooperative, and it is up to the rebels in territories that they control to also be cooperative, so that the inspectors can carry out their work and complete it within the deadline. >> and as you point out that is a very daunting task that they face. continue having fighting in syria, what can you tell us. >> whole the fighting is happening in almost every province in syria. we heard that the different rebel groups clashed with government forces which is a suburb of damascus, very close to the capitol, and they say that they killed 25 government forces and are now in control of at least 20 residential blocks in that area. elsewhere in the north, in the we hear that there's a very heavy bombardment with government forces throwing and launching tnt barrels on that town with tens of people getting killed and injured according to activists there. so the fighting is on
going in more than one part of syria. >> joining us -- she is the european commissioner for international cooperation, humanitarian aid and crisis response. let's begin with the numbers what are the latest numbers you are hearing how many refugees have been effected? >> well, so far, over 2 million people have led syria half of them are children. and the fear is with fighting continuing these numbers will also continue to grow. but even worse is the situation of syrians that are trapped inside the country, already almost 10 million, and just imagine half of this are children. this is like a and i the
size of los angeles being all populated by children of war. obviously, we need to help the syrians to come to the negotiating table, because only peace will bring an end to this enormous suffering and the risk on the neighbors. but this is a long road to travel. we must help syrians and their neighbors. we have provided $2.7 billion so far and we will do more. and i just want to stress, we will do more for everybody, but we also want today a strong focus on what may to be a locked generation -- >> that's what i was going to ask you next. are we looking at what could be that lost generation, is that what we are looking at here? >> cat goricly yes, we
are now two sna 1/2 years e conflict. i have seen many many children in refugee camps outside of syria, have listened to their stories, they don't -- not only the future of this kids is crushed, but they have seen things that no child should ever see. they are out of school. seven out of ten children in refugee situation dozen charges not go to school. and of course the risk of radicalization of syrian is right there. to focus on more kids. 4,000 schools in syria are gone, 4,000. in a country that used to have universal education.
>> do you believe that the universal community is paying as much to the humanitarian crisis as weapons to the weapons in. >> we are now seeing more attention to the fate of the people. finally, after two years of waiting the security council came up with a statement on the humanitarian issues on access to help. i believe was must do. unless we today act on this issue of preventing children from radicalization, whats going to be this future? and how will this impact. we are hosting with the u.k. secretary for international development just today where unicef will have a strategy of
focusing from children, and we all must work very hard for this strategy to grow and be implemented in the months ahead. it is not going to be easy but it is paramount. >> should i say secretary, there is talk that you might be the next secretary general of the united nations? can you confirm that that indeed may be the case? >> yes or no, the answers? >> i have a huge jump in my head today, and it has my absolutely full attention. and may i say, it is not just about suffering people in syria, syria is threing to launch other crisis around the world -- >> if i can just interrupt you for a second, i have spent decades in washington i know a political answer when i hear one, how about a yes or no. i know you were trying to duck that question, are you headed to the u.n. to be the next u.n. secretary general?
>> i am headed to the central african republic. >> i will take that as a stand by. thank you very much. >> thank you. >> she is the european commissioner for international cooperation in humanitarian aid and crisis response she joins us from washington. >> well, the death toll from that bode of african migrants is climbing. more than 300 bodies have now been recovered and that figure could rise as divers there continue their search. they dove over their packed boat when it caught fire and sank. the wreck has led to calls for action to tackle mass migration. president obama has announced his choice for the next chairman of the federal reserve, janet yellen sevenning that nomination yesterday. >> more needs to be done
so strengthen the recovery, particularly for those hardest hit by the great recession. we have made progress. the economy is stronger, and the financial system sounder. >> if confirmed by the senate, yell enwould be the first woman ever to lead the world's most powerful central bank. fresh surery secretary is preparing to testify on capitol hill. we are following that as it progresses as you can see he is being introduced and questioned by is lawmakers. we will continue to watch and wait for secretary lou as he begins his comments. we turn to business news now wall street hopeful. here now with all of that. >> good morning. everyone will be focused on what jack says. in the meantime, optimism is creeping its way back. it can be a fine morning for graders. this follow add good day
yesterday, both avoidedded a three session lost and had modest gains. the nasdaq, however, took another hit. suffering its worst losing streak in three mondays. rebounding from a one month low, the bank of england is leaving its key unchanged. power highing on that news, and mixed results posting back to back 1% gains hong kong and china shanghai both trading lower today. most of wall street agrees, analysts predict treasury secretary will tell congress the stakes are too high. >> we played the same game of chicken in 2011, and we did raise the debt ceiling but still standard & poor's downgraded us, took away our aaa rating. what happened when they did that? well, the stock market lost 20% of its value the next day, it didn't recover that value until 2012, that wiped out
about $2.4 trillion of household wealth. >> special computers are no longer as popular with students as they used to be. students are choosing tablets over p. dr.s. p.c. sales plummeted. p. dr.s now compete with tablets smart phones and those e readers. and good news in the housing market, new data shows fewer u.s. homes are on the path to foreclosure. reality drive says the number of actions initiated in the last three months are at a seven year low. >> thank you very much. >> we are going to go back to capitol hill,s that because treasury secretary has now begun his testimony. >> at our auction, four year -- the interest rate
nearly tripled relative to the prior week's auction, and reached the highest level since object twenty thousand eighth. measures of expected volatility have resident ton the highest levels of the year. the only way to avoided further action is for congress to act. i know from my conversations with a wide range of business leaders from retail to manufacturing and banking that this is a paramount concern for them. that's why it is important for congress to reopen the government, to raise the debt ceiling and then to work with the president to address our fiscal challenges. republican and democratic -- and secretaries alike have understood the importance of protecting one of our most precious assets. the full faith and credit of the ice. this country now possesses the strongest credit in the world, the full consequences of the
default, or even the serious prospect of default by the united states. are impossible to predict and awesome to contemplate. denigration would have substantial effects on the markets and on the value of the dollar in exchange markets. and the jobs and savings of millions of americans. i have a responsible tor transparent with the american people about these risks. i think it would be a grave mistake to dismiss them. so we can honor all of our past commitments. as new information has become available on when
we would exhaust our measures. what our cash ball lances will be when we exhaust our measures. as offer forecast have changed and consistently provided updates, and urged congress the best information about the urgency, with which they should about. and last month, i met with the full membership of this committee to discuss these issues. treasury continues to projected the extraordinary measures will be exhausted no later than object 17th, 2013. at which point the federal government will have run out of borrowing authority. at that point, we will be left to meet our commitments with only the cash on hand and any incoming revenues. placing our economy in a dangerous position. it would be impossible for the united states of america to meet all of its obligations. including social security and medicare benefits payments to our military and veterans, and contracts with private suppliers.
for the first time in our history. at the same time we are relying on investors from all over the world to continue to hold u.s. bonds. every week we roll over 100 billion-dollars in bills. continuing to roll over their investments. >> is rep precushions would be serious. raising the debt limit is congress' responsibility, because congress and congress alone is empowered to set the maximum amount. some in congress have suggested that raising the debt limit should be paired with a company expending cuts and reforms. i have repeatedly noted that the debt limit has nothing to do with new spending it has to doe where spending that congress has already approved and bills that
have already been incurred. failing to raise the debt limit would not make these disappear. the president remains willing toe negotiate, but he will not negotiate over whether the united states should pay its bills. seven members 067 the house and senate believe it is possible to protect our economy by paying only the interest on our debts. how can the united states choose whether to provide children with food assistance or meet our obligations to medicare providers. the united states should not be put in a position of making such choices for our economy and our citizens. there is no way of knowing the damage such an approach would have on our economy and financial markets. leaders have a responsibility to make our economy stronger. not to create manufactured crisis and inflict damage.
1987 president reagan deliver add message that is applicable to us today. this bringsman ship threatens the holders of government bonds and those that rely on social security and veterans benefits interest rates would skyrocket, instability would incur, and financial markets and the federal deficit would sore. the united states has a special responsibility to itself and the world to meet its obligations. the very last thing the u.s. economy needs now is a fight over whether we raise the debt ceiling. not when we face serious challenges both domestically and internationally that require our full attention. and not when we know the kind of damage a financial and economic crisis can cause. thank you, and i look forward to answering your questions. >> thank you, secretary, i would like to focus a little bit on the concept that some suggest u.s. treasury secretary as he addresses members of the senate finance committee. secretary lou leave nothing doubt that he believes the debt ceiling
should be raised and in fact, he seemed to indicate that it is not a question of whether or not if it should be raised but also dire consequences if raising it comes too late. he seemed to indicate the markets would react either way depending on whether or not congress is prepared to take this up to the last minute, telling members of congress the only way for the u.s. to avoided further damage to the economy is for congress to act saying the full faith and credit of the united states is at stake. here with us right now, you are listening as well. this is already having a effect on the market. >> what we are seeing is the short temporary asylum bills the pay back dates around october 17th in the weeks just after that, they are selling at historical discount, which means investors are demanding higher interest, because there's this perceived risk.
this effects everyone who may not believe -- if you have a money market mutual fund. some members of congress, don't believe that anything would happen if the u.s. surpasses that debt ceiling which we hear will have dire consequences. what does he say? what can you say to those that will change their minds? >> you don't. in fact, often times finance, markets don't respond to anance, they respond to a perception. might this happen is more important than will it happen. that's why we see major players like fidelity saying okay, i have to get out of some of these short term bonds because if my clients want their money, i need cash on hand.
let's go back to capitol hill, sometimes the question delegate what the answers may be. let's < in again. we wouldn't have the money to pay our troops in full. we wouldn't have the money to pay our veterans in full. our systems were not designed to not pay our bills. the league issues are many, i don't know how you can make the decisions. i don't think the legal authorities are clear at all, and i don't think the process would permit them to work. we write roughly 80 million check as month. the policy of congress and every president has been we pay our bills. you cannot go into those and easily make them pay some things and not others. they are not designs that way, because it was never the policy to be in the
position it is my understanding as well, that notice to some degree what your obligations are. interest on the debt refers that at the end of the month, this month, major medicare bills are due. on the other hand, knowing the revenue is a little bit sketchy, it is lumpy. it comes in unanticipated amounts. >> well, that's very much the case. we have estimates if these estimates are wrong, then there is the real risk of miscalculation. and i would just note even in the period of time that i have been keeping congress informed. that's because quarterly
tax recretes are not estimated where they are to be. we are now in an unusual position with the government shut down. that is having economic consequences which we are just beginning to understand. all we have based our analysis on are based on a world where the government is functioning and where all the services relate to government activity are happening. so i have to assume that the estimates with turf shut down are likely not to be an accurate predicter of where we are. >> well, mr. chairman, i have to tell you, i don't believe there is a way. this system was not designed to be turned off selectively. doesn't know the architecture of our systems that are very complex. they were designed
properly to pay our bills they were not designed to not pay our bills. we are still -- by definition, if we don't have enough money to pay all of our bills we will be in default. >> thank you. >> thank you, mr. chairman. i want to be clear on the debt limit. as i understand it, the position is that the president will only accept the the so called debt limit hike with no other accompanies policy or fiscal considerations. i have asked you repeatedly, how much of a debt increase you would like, and for how long. and you have responded that it is up to congress. and i believe that the administration's position is unfortunate, because it is clear that we have a debt problem, and that the fundamental driveser unreasonable, unsustainable spending in our entitlement programs.
i belief we can and should use 24 as an opportunity to address these problems and i have personally offed five modest proposals. to the president earlier this year, and you have received copies and i have heard no responses for that, and i sincerely did that, and never the less, the administration's entitled to its opinions and positions so i gist want to be clear concerning the debt limit. as long as there's nothing attached to a debt limit increase, the administration will say nothing more about it? including its preferred outcomes in terms of how much of an increase and for lounge? is my understanding correct? do you wish to give me your preferences about how big of a debt level increase you would like to have. and for how long you would like it, so that at least we can begin discussions and negotiations on this particular issue. >> senator, you and i have discussed this, and we have correspondenced a
number of times. i woke to you just last week, stated what our view is. our view is that this economy would benefit from more certainty and less brings manship, so the long tore period of time is the better for the economy. it is really congress' decision how often it wants to vote on the debt limit. i believe that more certainty is better, i think that the senate leader has -- and the chairman have put forward a proposal. >> mr. secretary -- all i am asking is how much do you want, how long? those are two simple questions. how much do you want us to raise and how long. >> senator, the question of how long is one i think i'm answering as clearly as i can, the longest that congress is prepared to extend it for is the best. i think a voice -- >> the president tried to be clear in his statements in recent days. that if congress passes something shorter he was open to -- he is not
looking for there to be a crisis here. but congress will be right back dealing with us the better decision is to go long per p we have tried to be clear, and everyone knows the numbers associated with different periods of time. >> the recent budget office makes a number of things clear. first between 2009 and 2012, the federal government reported the largest deficit since 1946, causing the federal debt to soar to an amount higher of any point in the u.s. history. now stands at 107% of our j.d.p. second, our debt path is unsustainable. threatening to bring us to this crisis. third, the root of our spending problem is that is the government's major healthcare programs. that includes not just obama-care but medicaid and medicare as well. fourth, and others. fourth trust funds and social security and our
health entitlement programs face exhaustion. yet when it comes to negotiating solutions to our problems, all i hear from the administration is that negotiations can only proceed if first the president is guaranteed yet another tax hike, or if the only spending restraint we have enacted thus far is turned off. when it comes to so much as even discussing -- our problem, all i hear is that negotiations only proceed if first we pass the clean continuing resolution, and a clean debt limit increase. what does it take beyond a guarantee that they first get yet another tack hike. or that the sequester be undone to get the administration to the table, to talk about entitlement reforms such as the ones i have proposed in which have been met with total silence. furthermore, is it reasonable to say that
there can be no investigation that we know this very day that they face a benefit cut of 20% or more under current law when the disability trust fund is exhausts in 2016 or earlier. senator, i think the record has clear that the president has negotiated, has wanted to and remains anxious to. to have a fair and balanced approach. >> not clear to me. >> he has been on the verge of agreements twice. in congress, he was prepared to do very hard things. he was ready to have an agreement twice. in 2011 at the end of last year, he put in his budget very tough policies. policies that many of the democrats on this committee find very challenging because he wanted to make year he was looking for a balanced approach to entitlement reform and tax reform to settle our fiscal matters in a sensible way for the medium and long term. i think the president's record on being willing
to negotiate is clear. i would make one comment. >> very briefly. >> on the trajectory of our deficit, when the president took office in january 2009, we were in the middle of the worst recession since the great depression, in the middle of two wars and a deficit that is 9%. veterans and cut that in half. we have more to do, but i don't think it is fair to say we are in the same place we were. we with have made tremendous progress. >> thank you, mr. chairman. mr. lou, it seems to me in the event of a default or near default, the dominoes are going to fall fast and hard. and those hit early on -- >> you are listening right now to fresh surery secretary jack lou testifying before the senate finance committee indicating that things in the united states could get progressively worse if the debt ceiling is not extended. one way in 1 point of reference to give you an idea of how the government shut down are linked this number,
374,000 that is the number of people that last month applied for unemployment benefits. those numbers may be skewed but they could be correct. that means that people who once worked for the government, once had jobs are now seeking unemployment benefits and here is the caveat, if they get their jobs back, because congress has passed a back k provision for them to get their money back, they would then have is to return that money which is creating quite a mess on capitol hill to say the very least. your thought oz hang you heard treasury secretary saying and even more important the questions that were being asked. >> one thing he seemed to stress we cannot prioritize our debt obligations so whether it's a question of paying interest on bonds first, or those social security payments. those veterans payments, those are systems he says the architecture of our systems aren't design to do that. we go into default if we don't pay, or we don't. one other thing he enmanied he spokes about the significant of the broader economy.
the numbers that you just mentioned those unemployment claims. if we do not have those payments going out, to our government workers, to folks who receive social security benefits that may effect larger broader consumer demand. which is going to have an effect on the market. >> he also said something interest canning is that sometimes people forget, the united states government has to pay its bills. it writes check checks andn fact if you go to the national archives it is fascinating you see checks that are written by abraham lincoln, checks written by other presidents we have seen become ought mated the system is not set up to pick and choose what we want to pay, it is almost like you have that automatic bill payment system, that's the way the federal government works. >> he also mentioned very pointently that we have about $100 billion in bonds that rolls over frequently. people who loan us money say okay,ly loan you more, just pay me back. if our confidence in our system is threatens, investors will be less likely to do that.
that's what is at stake. the confidence in the american system. there is a belief, that there is -- enough money coming into the coffers right now to pay all the bills. if nothing is done to raise the limit, that is the reason why some beam are taking this all the way up to the october 17th deadline, is that a true statement or nontrue? in theory we are a solvent country. we have enough money, but what we lack is the will to pay for it. it is quite offensive to people it would be the equivalent of rich men coming into a local shop, giving him a service and then he tells you i can't pay you because i don't have my credit card with you. i know you have the means pay it. >> there is a belief, there is a tendency to belief that the debt ceiling is raising the debt ceiling so that we can pay for things we want to spend. the debt ceiling is not the debt ceiling for what
we want to spend, it is paying the bills that have already been created by congress in years past. >> correct. a portion of every dollar the u.s. spends is borrowed money. and so if we do not continue to borrow money to allow ourselves to borrow money, we run the risk of default for things we need. not necessarily things we want. >> the other thing we mentioned and i want to touch this too, social security. medicare benefits vet reps benefits on the table, if nothing happens on october 17th, for the first time since this debate has begun, you are hearing very real talk that that check that senior citizens and veterans wait for each month may not be in the mail. >> that is the threat that is the risk, but right now, it is only a risk. however, a lot of folks are very very concerned about this. >> thank you very much. again, we continue to watch the situation as it unfolds in washington still ahead, the u.s. is tightening the stick when it comes to military aid to egypt, we will be
understands very well,ent our commitment to the success of this government. which we want to see it change. and by no means is this a withdrawal from our relationship, or separating of our serious commitment to helping the government meet those goals. >> now joining us to discuss the potential impact of that decision to suspend aid to egypt, he is with the washington institute. he is in the nation's capitol this morning. if the u.s. cuts the aid and the saudis pick it up, they are saying that any aid that is cut they will reimburse the country for, seems like it is like the tree falling in the international woods. does it make a difference? it certainly makes a difference in terms of the perception in egypt where the united states stands. this is mostly symbolic in the sense that the actual hardware that is being with held won't
make a tremendous difference in terms of the military capability ins the short run, but definitely a signal to the public of the administrations displeasure, and it comes at a moment when they are fighting -- that is increasingly made its way to mainland egypt, and in my view, that is just not the right time to be sending that kind of message. >> i guess the question then following can the u.s. even continue, or maintain it's aid to egypt if it wants to continue saying that it supports the spread of democracy through the middle east? >> well, not every moment is ripe for spreading democracy, unfortunately. right now in egypt, have you a military that sees itself as being in a conflict with the muslim brotherhood the group it removed from power, and removed the brotherhood from power, because president morsy has completely lost control of the government. so the political dynamics are not right for democracy, and they are not really open to
change, and one other point i want to make, is that military aid is not really the right tool for promoting democracy. military aid is about a certain type of strategic relationship, tieing that to domestic developments has not typically worked in the past. it is especially unlikely to work now, given that the public supports the crack down on the muslim brotherhood. >> are there interested in egypt that may be hurt by the suspension? >> that's exactly what i'm concerned about. the united states relying on its relationship with the military to get us preferred access in the canal, over flight rights to maintain the treaty with israel to a lesser extent. of course the treaty with israel is is thing something that the military views as being in its own interest, which is a good thing. but there's a very deep relationship there, and sending the signal of our does pleasure right now at the moment that the military is facing a
domestic insurgency is just bad timing. >> then -- as we look at these images these disturbing images that are flowing in from egypt, is there something the u.s. should do that would support the spread of democracy, or is it just that all of it should be cut off? >> well, look, i think it is going to be very hard for the united states to build democracy right now. that's why it would make more sense for the administration to keep its powder dry to wait for a more opportune moment. the military is not likely to remain popular indefinitely. we have seen first that a military regime, then the muslim brotherhood quickly fell out of favor, and the same will probably happen to this as well. it is in that moment when it may make a difference.
>> you don't fire a one bullet gun unless you are very close to your that is correct. >> joining us live, he is with the washington incity fought. thank you for joining us. >> that is where treasury secretary has been testifying now. it has been unpleasant, i would say, from secretary lou's perspective. until that debt limit is really going to effect the economy, this is what he had to say. >> unfortunately, today we face a manufactured political crisis that is beginning to deliver an unnecessary blow to our economy, right at a time when the united states economy the american people, have pain stakingly fought back from the worst recessions since the great depression. >> in addition to the shut down, the uncertainty around raising the debt limit is beginning to stress financial markets.
four week treasury bills the interest rate nearly tripled. and it reached the highest level since october 2008. in measures of expected volatility have risen to the highest of the year. the only way to avoided inflicting further damage to our economy is for congress to act. >> he has been listening to the treasury secretary throughout the morning. talking to members of congress, are members of congress a receptive audience. >> one thing that struck me is how forceful his questioning is. how long do you want this extension of the debt ceiling. and jack lou just saying as long as you can give us because that is what is going to help the market. >> thank you very much. that will do it for this edition of al jazeera news. as always, more headlines in just 2 1/2 minutes and you can check us out 24 hours ago on
Uploaded by TV Archive on