and the project has received $10 million as part of president obama's budget. in february of 2010 and the issue before you today is critical to maintaining the program schedule that will allow the agency to receive the full fund and grant agreement in the third quarter of 2011. the slide before you is the -- a plan profile drawing of the 1.7 mile central subway highlighting the two parcel acquisitions necessary for the construction of both the masconey and the china town station and those are highlighted in red. and the three easement takes that are highlighted in blue are essentially underground easements necessary to accommodate the radiuses of the tunnel alignment. and at this point, i would like to turn it over to kristen. thank you. >> good afternoon, supervisors. i'm the senior manager of real estate for sfmta real estate and the finance and information technology division. so the two fee parcels that mta needs in full ownership is for two stations. one at 266 to 286 fourth street and the second is for the china town station at 933 to 949 stockton street.

they want to spend more money, obama budget in 2011 which i'm sure speaker pelosi is very fond of will increase welfare spending by 40%. what does that mean. that is putting more people on the government -- >> this republican interest in the deficit is a new thing. we certainly didn't see all that concern when bush was spending this amount of money. >> that not true. >> 9 heritage foundation -- >> we're not talking about the heritage foundation. one thing that interests me a lot about nancy pelosi is the attacks on her ef in ree-- in every district of this country that going be to be made from now until the midterms amount ofnd unlike-- and many of them are so nasty that we as women should all be appalled. when i see how her sexuality is attacked. when i see mike huckabee say that if he only had a choice between a tour defair with sweet sweet nancy pelosi and helen thomas than he might be for same sex marriage. when i see steve moore say if he has a bad day he thinks at least he's not mr. pelosi. i mean and she has a -- >> that is outrageous. >> that's unacceptable and we shouldn't, it

they want to spend more money, obama budget in 2011 which i'm sure speaker pelosi is very fond of will increase welfare spending by 40%. what does that mean. at is putting more people on the government -- >> this republican interest in the deficit is a new thing. we certainly didn't see all that concern when bush was spending this amount of money. >> that not true. >> 9 heritage foundation -- >> we're not talking about the heritage foundation. one thing that interests me a lot about nancy pelosi is the attacks on her ef in ree-- in every district of this country that going be to be made from now until the midterms amount ofnd unlike-- and many of them are so nasty that we as women should all be appalled. when i see how her sexuality is attacked. when i see mike huckabee say that if he only had a choice between a tour defair with sweet sweet nancy pelosi and helen thomas than he might be for same sex marriage. when i see steve moore say if he has a bad day he thinks at least he's not mr. pelosi. i mean and she has a -- >> that is outrageous. >> that's unacceptable and we shouldn't, it h

obama budget, that's the budget that is the incumbent budget. what does that budget do? it doubles our debt in five years and triples our debt in 10 years. our debt just hit the $13 trillion mark. we're watching europe in the throes of a debt crisis because they borrowed too much money, they taxed too much, they slowed down their economies and now they're in crisis mode. well, that's exactly what's going to happen here if we don't get our fiscal house in order. that's exactly what the credit markets are going to do to us if we don't show that we're serious about our fiscal responsibilities. so what is the primary responsibility of the legislative branch of government? budgeting. and what is this majority doing? they're not budgeting. we're deeming. we're deeming $1.1 trillion so we can start spending. not budgeting, spending, no restraints, no priorities, spending. mr. speaker, i really worry about this. i worry a lot about this. because i worry we're sending all the signals the -- signals, the wrong signals, the wrong signals to the economy, to

they were invited president obama to meet budgets. know when to in selling to the us the war in afghanistan has now become washington's our longest ever minute you campaign in broad support of in. from the halls of the beginning of cooperation between the u.s. and the soviet union at the height of the cold war the apollo soyuz space mission happened that she. talks to a former k.g.b. officer to find out what could be happening behind the scenes of the latest spy saga between moscow and washington to go away. just days after the false over the russian american spy scandal seem to have faded the way the story has taken and all the terror and the u.s. deported and now the person who could be implicated in this part so the saudis certainly far from over will we see more arrests and what will the future hold for those already disclosed and will the story a fact that we sat in relations between the two countries to discuss the issues here with me is former k.g.b. officer elected to put an end to thank you very much for being with us. thank

on top, it shows you what happened under the obama budget. by the end of the decade, the debt is 90% of the economy. early in the next decade, the debt hits 100% of the economy. that is where we're headed under current obama policy. my favorite single statistic is that net interest will be 4% of gdp. that is the highest level ever, even after world war ii to. interest rates were lower than than they are expected to be now. that is where we are headed. i think these are based on relatively conservative economic assumptions. they are based on fairly strong political assumptions. pay-go is assumed to be in affect the whole decade. the cuts in health care are supposed to actually occur. the stimulus package is allowed to expire, if cedras -- etc. these are fairly optimistic projections. that is another way to say it could be a lot worse than this. what should we do? we have this dilemma right now. we want to create economic recovery, but we also want to impose fiscal discipline on the budget. that pushes in opposite ways. expansionary fiscal poli

street reform plan and the selection of a new budget director. mr. obama hailed the senate's progress on a financial reform bill as a "breakthrough." >> three republican senators have put politics and partisanship aside to support this reform. and i am grateful for their decision, as well as all the democrats who've worked so hard to make this reform a reality. >> stahl: with the backing of those three republicans-- susan collins and olympia snowe of maine, and scott brown of massachusetts-- democrats now have the 60 votes needed to overcome a g.o.p. filibuster. the president then pivoted to his nomination of jack lew to serve as director of the office of management and budget. lew held the same position in the clinton administration from 1998 to 2001, and he would replace peter orszag, who is leaving at the end of the month. >> if there was a hall of fame for budget directors, then jack lew surely would have earned a place for his service in that role under president clinton, when he helped balance the federal budget after years of deficits. >>

president obama has just appointed jack lou, who was clinton's budget chief and he engineered the surplus. i don't think it's desolate as you are foreseeing. >> mort. >> i think the deficits represent the overhanging problem for the entire american economy. it could really crash the economy over a period of time and not too long. well within a generation. and these are two guys, allen simpson, who are two of the most respected and moderate people. >> level headed? >> they are both widely respected within the political community. it is. it's a huge political problem. it is a great economic problem and everybody hopes they can kick it down field so they won't explode during their term of office. it's going to explode. we do not want to become grease. we are not quite grease, okay. at this point, if we have a situation where countries refuse to buy our debt and it could happen very quickly, we could crash the economy. >> what is not exhausted is the american fear about the pending tax increases that are coming. one of the things that is adding to the market uncertainty that you spoke of earl

>> well, president obama himself has got plans for quite aggressive budget deficit reduction that i think is going to take your deficit down to 3% of gdp from where it is by 2015. >> reporter: the junior partner is not going to scold the united states? >> certainly not. different countries to do thoefshing inin ining things i ways. we're all heading in the same direction. >> reporter: afghanistan. >> yeah. >> reporter: is -- are the international forces winning? >> i think we're making progress. i think we need to just be very clear about what we're trying to do in afghanistan. frankly, we're not trying to create the perfect democracy. we're never going to create some ideal society. we are simply there for our own national security, for your that means having an afghan government that is capable of securing its own country. that is the key condition. that's the only condition we that is the key condition. that's the only condition we should really be putting on all talking about startiut cameron has said britain is out in 2015. will you be out in 2015, no matter what? >> what i've said th

that no matter what the obama administration does america is financially doomed to find out more on this we spoke to max volt an economist at the new school in new york we have a little bit of a tweedle dee tweedle dum budget problem here with democrats and republicans so republicans didn't meet a budget deficit they were in love with from two thousand to two thousand and eight when president bush came in across his eight years in there and we did something that pretty much we've never done historically and nobody does historically which is cut taxes and have two wars which you don't do because it's budgetary ruinous and so we saw our total outstanding u.s. government debt double from about five and a half trillion dollars to about eleven trillion dollars under george bush as soon as their party lost the white house and obama came in the republican suddenly found some kind of major religion when it comes to budget cutting but they don't really want to raise any taxes and when you get a budget hole as big as the one americans are in right now honesty with the general public says we'r

that is not the total cost, that is just the increase in the budget deficit due to obama care. in the second decade you know the number is? $1.5 trillion more of red ink. money we don't have that we are taking from my children and maybe grand children of yours or my grandchildren. we don't have that right now. forget future we don't have that kind of money right now to read so much more is at stake here. the pelosi-reid-obama package is going to add over 100, 100 new federal agencies and departments to the already blown washington bureaucracy. now again, that number does not inude the existing bureaucracy there will be beefed up and added to over 100 new departmentand agencies because of this bill. and of course, that means thousands of new government bureaucrats the we are paying for. so there's just too much at stake. and do what job killing policies. think about the number of jobs were going to be lost by the mandates on the small businesses i was talking about small business owner in ohio who runs and rubber company about 90 employed. he said under this legislation we are l

your colleague writes the most likely scenario, what president obama outlined in his budget -- the ones that benefit couples who earn over $250,000 and singles over to a hundred thousand would either revert to hire to out on one level or raised in some other fashion. sounds like what is not on the table so much is keeping the tax cuts for the -- the other tax cuts, not just the high end ones. guest: that will be the big fight. there is consensus in washington that if you have an up or down vote on keeping the tax cuts for people below $250,000, it would pass unanimously almost. the big fight is the top 2% to 3%. this is washington, so there are always political games. will republicans basically force democrats to cut everybody's taxes and order to get the one for middle-class and basically pick a political fight? guest: host: if nothing happens was montego it will expire. virtually every american would say a tax increase. host: our guest is gerald prante from the tax foundation. you can join the conversation -- "the new york times" guess they call this an epic fight, brewing over what c

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come next january, we will start out with a balanced budget amendment and repeal and replace obama-care. >> let's do some rebuttals. congressman, your next. >> i have got to tell you, when i returned to private life in early 2007, i believe that total spending was 2.7 trillion. john would claim that he is a fiscal conservative. your amnesty plan would cost $2.60 trillion in deficits alone. you are at in a position to lecture us about fiscal responsibility. he voted for the bailout, $700 billion to the big wall street investment banks and $150 billion in earmarks. yet he is spending millions of dollars trying to tell us that he is opposed to earmarks. john is not telling us the truth. >> did you get that? when i returned to private life? the voters sent him back. it was not exactly an act of voluntary action to return to private life and then become a paid lobbyist for a buddy of his in florida or to do infomercials, which he said he did not do due diligence. channel 4 here in tucson did an investigation and said that this is a terrible scam. so, what did congressman hayworth do? how muc

our guest tonight has been appointed by president obama to serve on a special commission to reduce the nation's deficit. alice rivlin joins us now, she is also senior fellow of the brookings institution. >> good to be here, susie. >> susie: alice, when you look at the forecast of the white house, and looking out, it is expecting the deficit, it will be able to cut the deficit by half a trillion dollars over the next two years, by the year 2012. that works out 10% of g.d.p. now down to 5.6%. does that seem doable to you? >> i think it is doable if the recovery doesn't falter. the assumptions behind this drop in the deficit are that the economy does recover, grows moderately this year, and continues to strengthen. i don't think that's unreasonable, although there is some reason recently to doubt how strong the recovery is. but on those assumptions, much of this deficit, and it is very, very large, is related to the recession and to the temporary spending that we had to do to mitigate the recession. so it is reasonable to assume that that will diminish as the economy recovers. but -- >> s

tomorrow's topic is the federal budget and the national debt. the leaders of the task force graded by president obama are working to find ways to repair -- to reduce the federal deficit. live coverage is sunday morning at 9:30 a.m. eastern on c-span. >> watch world leaders from the white house to parliaments around the globe. you can see them on the c-span video library -- online, free. washington and the world to your way. >> tonight, campaign 2010 coverage with republican primary candidates vying for the seat of sam brownback who is running for governor. that is at 8:30 eastern. missouri's secretary of state is seeking the democratic nomination for senate appeared we will show present -- for senate. we will show congress -- we will show a fundraiser for her later. we will also talk about the economy and jobs. the missouri seat is opening with the retirement of republican senator kit bond. camping 2010 coverage on c-span. -- campaign 2010 coverage is on c-span. >>n this week's edition of "the communicators," -this was held in los angeles of may

budget gap growing. a big election less than 100 days away. all that is making another $60 billion in funding for the afghanistan war a tough sell on capitol hill. >> i cannot look my constituents in the eye and say that this operation will hurt our enemies more than it hurts us. >> i think we need a renewed debate about the course of this war. >> reporter: a war that's now being cast in an even more unfavorable light with the online leak of 91,000 pages of raw intelligence. president obama is playing it down. >> the fact is, these documents don't reveal any issues that haven't already informed our public debate on afghanistan. >> reporter: the pentagon says it's still assessing the damage. >> are there things in there to jeopardize operations or the nation's security? we just don't know. >> reporter: the man who published the leak said it's a true picture of the war. >> it is the most significant history of war to have ever been released during a war at the time, where it can make some difference and shape policy outcomes. >> reporter: meanwh

constitution and repealed and replaced obama- care. we can do it. >> rebuttals. >> it is interesting to hear him lament the spending. when i returned to private life in early 2007, the total spending for that year was $2.70 trillion. john would claim he is a fiscal conservative. your amnesty plan would cost $2.60 trillion in retirement benefits alone. you're scarcely in a position to lecture us about fiscal responsibility. the fact is your vote for the bailout -- $700 billion to the big wall street investment banks and $150 billion in earmarks -- yet he is trying to tell us he is opposed to your marks. -- earmarks. john is not telling us the truth. >> when i returned to private life -- did you get that one? first, it was the voters sent him back. it was not exactly a voluntary choice to return to private life and then become a paid lobbyist for a buddy of his in florida or do infomercials, which he said he did not due diligence. -- do due diligence. there was an investigation which said, this is a terrible rip- off. what did congressma

"the washington post" headline says president obama to spend to half deficits. the budget deficit is equal to gross domestic product while other nations are tightening their belts, washington is borrowing chinese money belts. by year's end the national debt will reach 62% of the g.d.p., the highest level since world war ii. the more washington spends, the more it borrows, the more interest rates, the more taxpayers must spend on interest payments to chinese and foreign debt holders. the first rule when you are in a hole, especially a $13 trillion hole s. stop digging. american families understand just because there are checks in the checkbook doesn't mean there is money in the account. that's the message from main street to wall street. is anybody listening? yield back. the speaker pro tempore: for what purpose does the gentleman from missouri seek recognition? >> to address the house for one minute. the speaker pro tempore: the gentleman is recognized for one minute. >> thank you, mr. speaker. mr. carnahan: instead of working together like president reagan and

this after rizzo severely slashed the city budget, laying off scores of workers. >> they told us there was no more funds for our department. >> reporter: the big question, how could all this happen? how could city officials award themselves those lavish salaries while cutting jobs and services and hiking taxes? the problem, according to good government groups, is that in california, cities like bell can set salaries in closed door meetings, although the amounts have to be reported to state pension plans. >> our pension systems have known about this and are doing nothing to change it. >> reporter: now, prosecutors are investigating as this city, appropriately named, is setting off alarm bells everywhere. george lewis, nbc news, bell, california. >>> when our broadcast continues in just a moment, the specialists who are called in when they suspect bed bugs in the home. tonight why there seems to be a sudden epidemic and what to do about it. >>> and later, operation relocation for some of the most vulnerable on the gulf coast. [ woman ] alright, so this tylenol 8 hour lasts 8 hours. but a

"usa today," obama blasts senate republican. it quotes the congressional budget office. let's take a listen to what president obama had to say yesterday on this issue. >> i have to say after years of championing policy, the same people who did not have any problems spending hundreds of billions of dollars on tax breaks for the wealthiest americans are now saying we should not offer relief to middle-class americans like juim -- jim really need help. the senators have tried not once, not twice, but three times to extend emergency relief on a temporary basis. each time a partisan minority in the senate has used parliamentary maneuvers to block a vote the nine millions of people who are out of work and have needs. these leaders in the senate you are advancing the misguided notion that emergency relief somehow discourages people from looking for a job should talk to these people. host: davenport, iowa. larry on the line for democrats. good morning. caller: thank you for taking my call. thank you for c-span. i think there should be a referendum against the republicans. they cl

for budget saving tips to keep your family healthy, visit us online. >>> rain showerence summers is a key member othe obama administration's economic team and one othe important voices that the president listens when it comes to the economy and shape policy. i talked to him about chairman bernanke and the newly passed financial reform bill. >> the moat important wall street reform legislation in 75 years. it will substantially reduce the probability of another financial crisis. it will eliminate the prospect of large-scale federal bailouts of the kind we were forced into a year ago, and it will change the financial life of every american household by forcing the right kinds of protections and restrictions on egregious credit card practices, on mortgages that have exploding and unfair terms. on payday loans and other means in which consumers have been taken advantage of. you know, if you look at the financial history of this country, we had a catastrophe in the 1930s. we've put in place a system of regulation that really set that right. we went a long period with almost no major financ

. >>> former president bill clinton's budget list. most important things he wants to do in his list. but first, president obama pushes to restore jobless benefits of auto workers. his message to lawmakers. >> bp is testing mysterious troubles coming out of that well. i'm john hendron and $10. just a few simple ingredients and great-tasting mission flour tortillas make fabulous chicken fajitas, warm and yummy breakfast burritos and seriously tasty tacos. you'll find these budget-minded recipes and more ways to save at missionmenus.com. great meals start with delicious mission flour tortillas. mission. tasty tortillas. fresh ideas. you can see >> closed captioning brought to you by mancini sleepwor >>> president obama says republican lawmakers are playing politics and holding americans hostage by blocking unemployment benefits. he took aim at senators this morning. he gave the speech while standing with three of the 2.5 million americans that lost unemployment benefits since may. republicans are playing politics noting the same senators

i was dismayed when the obama administration proposed its budget earlier this year before this spill and recommended cutting 1,100 coast guard positions, cutting back ships, helicopters, airplanes, and other assets that are so essential to the coast guard to carry out its mission. we give our men and women in the military whether it's coast guard or any other service, the resources to do the job and then we commit them to complete that job and they get it done. i am also pleased that both sides of the aisle stepped up when those cuts were proposed and they did not accept that recommendation and that those cuts are not going to take place because of bipartisan support on both sides of the aisle. so again we are here to recognize the accomplishments that not only of thad allen, our new admiral, the head of the coast guard, bob patha, incredible gentleman, how blessed we have been to have people like him who enter i think way back when i became a ranking member was dealt probably every difficult situation starting off with unrest in cuba and problems in guantanamo, preparing for any pos

president obama i think has made it clear, he's been clear when he's met with al and me in private, he's been clear i think to the american people and public, he said that he is going to make recommendations next year that have real budget cuts in them, that will reduce the cost of the entitlements and help restore our nation's long-term fiscal health. i think there is a can ard out there now that says, well, you can't do both. we can do both. in fact, since the recommendations we're making don't take effect until 2012, we've got about 18 more months of this economic recovery for it to gain a foothold before any of our recommendations take place. so we think that's enough time for our recommendations to take place, enough time for us to get the fiscal house in order and then begin to balance the budget. i thought i would tell you the principles that are going to guide my own decisions are on the committee and al and i discussed these, and i think we're in agreement on most of them, but they're all pretty simple. the first is i don't want to do anything that doesn't protect the truly disa

when president obama came in, the last budget that he was handed was by president bush. that's the way it always works with a in the. you get the budget set by the previous president. that budget was $1.6 trillion. that was the deficit, $1.6 trillion and that's what he operated off of. so he did not triple the deficit and in fact as far as the money guess this country has never run a structural debt until the republicans came in with ronald reagan. ronald reagan set the first -- he ran the first structural debt and when clinton came in we were actually paying it down. then with bush, he ran it up to $11 trillion. now, this president has the worst recession since the great depression. you're going to run higher deficits and higher debt going forward until your economy is actually paying for itself again. host: so what do you think about the elections coming up? caller: i really think that will be an up-in-the-air sort of thing at this point because the republicans ever since 2006 when the democrats took over control of the house and the senate, they have been setting reco

how much the president says his economic stimulus plan is working the 9.5% unemployment rate hasn't budgeted and only 23% much american -- of americans have gotten jobs. senate republicans say democrats should only be angry at themselves. >> house democrats gave president obama every dollar, every tax hike, every stimulus program and every government takeover that he asked for. >> reporter: many residents here are just fired up about catching a glimpse of the first family. >> i saw them over at the harbor club today. >> reporter: president obama does have some substantial reasons to enjoy his vacation. congress passed sweeping reforms of wall street this week and at least for now the oil leak in the gulf has stopped. terrell brown, cbc news. >>> a central valley state college has finally revealed the speaking fee sarah palin received for appearing in a fund-raiser for its scholarship association. palin got $75,000 to speak at their 50th anniversary gala last week. school officials had been tight lipped about palin's contract but after students pulled part of what to be palin's contract from

it's being added to at $55,000 a second under the obama administration. just had the budget director leave office, financial times reports june 27th that he resigned "frustration over his atlantic success in per swagd the administration to tackle the fiscal deficit more aggressively." and we're looking at nearly a trillion dollar deficit throughout the next zmakd i really hope you can tell us how we're going to start getting away from this borrowing 40 cents of every dollar we're spending right now and move in a positive direction we need to. >> all right. i think we should very much separate the current deficit, which to a very large degree is being kausds by the terrible recession that we have been through and our long-run fiscal problem which i absolutely agree is a serious problem and something that we need to be dealing with. i think if you talk to director orszag and you talk to the president what you will hear is they a both in complete agreement about how important it is to deal with our deficit over time. that's why our budget charts a path to ge

the financial markets which are now giving all the money for the american people because the if obama is talking about taxpayers' money you're spending with this stimulus package he is really not spending taxpayers' money because it's not coming from the taxpayers coming from the credit market right now and yes to reduce this kind of bill otherwise he will bring american in in the really deep trouble. well ok thank you for you know for your perspective on i know tell me this one thing also if america does want to continue to be able to compete globally like you said investments needed which at the moment is hard to do if you need to balance budgets and air and air and rain and spending how is it that that america can compete because you also write that in large part we need to start manufacturing again these drugs that have simply disappeared when a benefactor in jobs but what do we produce what do we make there isn't already being produced all over the world. in the icing there is a great opportunity for all western countries to still produce industrial goods we are not living in a w

also, president obama announced his new budget director nominee. jacob lew will move over from the state department to fill the place of outgoing director peter orszag who steps down this month. if confirmed, mr. lew will assume the cabinet level post with the administration facing a deficit that exceeds $3 trillion for the first third quarters of the fiscal year. we'll have more live coverage of the oil spill commission when the house takes a break. you can watch all the proceedings on our website at c-span.org. yesterday, a number of people gathered outside the hotel where this oil spill meeting is being held. they were protesting the response. >> why are you out here protesting today? >> because this is an enormous environmental disaster and economic disaster and b.p. and the government have been consistently consealing the truth of censoring the truth, have been reducing full accountability and full transparency. they have not mobilized all necessary resources to stop this catastrophe. they have not protected the public health. they have not pr

you know twenty to thirty billion dollar increase in your aliyev investment in the sector president obama during this campaign originally called for a fifteen billion dollar and police and the federal clean energy research and development budget but unfortunately all we've been talking about is putting a cap on carbon i think the opportunity that we have though is to really take a third way strategy we see the comprehensive cap and trade is on for you know it's dead right now in congress but i think what we can do is really get a bipartisan consensus that this is a critical you know this is a critical industry for you how do you how do you do that because you know everything you're saying seems logical to me but if you look at americans and you throw the words cap and trade their way you throw all these numbers their way of how much different businesses are investing and that doesn't relate to that i mean how do you bring out the will in the american people to actually want to change their lifestyles to want to purchase a cheap electric car instead of driving a big fancy s.u.v. especially

the obama administration and the congress is beginning to move to approve it. the first committee votes have been very successful. and i would argue that far from making sense to hold up the treaty to try to see whether the modernization takes place that we need to understand that the ccess of the modernization will depend on the ratification of this treaty and in my view them moving ahead with the ratification of the text ban treaty because the congress, previous congress on the republican president and republican control of the congress turned down proposals for modernization because they saw them as an effort to build up on the nuclear forces to find new purpose for nuclear weapons, and the congress i thik clearly will not do that, will not improve the effort to introduc new purposes for the new nuclear weapons. but when you prevent them with this administration had in the context of this flawed treaty and the nucle posture review with a proposal to build down on the nuclear forces to exclude the nuclear testing and exclude the development of the new weapons

it's being added to at $55,000 a second under the obama administration. just had the budget director leave office, financial times reports june 27th that he resigned "frustration over his atlantic success in per swagd the administration to tackle the fiscal deficit more aggressively." and we're looking at nearly a trillion dollar deficit throughout the next zmakd i really hope you can tell us how we're going to start getting away from this borrowing 40 cents of every dollar we're spending right now and move in a positive direction we need to. >> all right. i think we should very much separate the current deficit, which to a very large degree is being kausds by the terrible recession that we have been through and our long-run fiscal problem which i absolutely agree is a serious problem and something that we need to be dealing with. i think if you talk to director orszag and you talk to the president what you will hear is they are both in complete agreement about how important it is to deal with our deficit over time. that's why our budget charts a path to

the obama administration is spending us into oblivion. there's never been a precedent in the last -- since this obama administration has taken place in two budgets, two-year cycles, they have put us what looks like we'll be around $3 trillion additional in debt. and if we don't change that, i really believe that it could be the central figure in america's economic obituary. . mr. akin: what does it mean? and i think you put that in graphic terms. you are saying it more damaging than war, a foreign conquerer could week more havoc than a war. mr. franks: we aren't going to be able to project any military capability. a government is what it spends. and one of the reasons that america has a strong military capability is we are strong economically. we dwarf all other economies. but the way we are going, we could be competing with greece for the instability that this administration seems to be heading our country toward. mr. akin: you have been reading my mind because i have charts that chair greece to where we are economically. i'm joined by m

to expire next year and there are other bold statement treasury secretary tim geithner said that the obama administration fully intends to let them and and to allow the taxes for the wealthiest americans to rise as an effort to bring down the budget deficit now of course republicans even some democrats in fact probably most people that are wealthy are going to be up in arms once we get closer to the cutoff date but will taxing the rich more really help the deficit or will they simply find the necessary loopholes in the best accountants to get them out of pain so you know. what if we toyed with the idea of a flat tax if everybody was tracked an equal percentage would they then be more willing to pay it's working in russia so why not here in the us well joining me in this you discuss it is ryan ellis tax policy director at americans for tax reforms and christian dorsey director director of external and government affairs at the economic policy institute gentlemen thank you so much for being here now first i want to get your thoughts should these tax cuts for the rich be allowed to expire whi

. >> michael, you just can't have a problem with barack obama. i want to know if there's redundancy and inefficiency anywhere. >> did i mention barack obama or the democrats? no, i understand it. we're going to check out that redundancy, let's go through the whole budget and look at all the redundancies. >> and you've done that before. >> why don't you help us do that so we can stop paying unemployment benefits. >> alicia, you think we're going to find out more here? >> i think we're going to find out more. and i do think we have to be re

. >> michael, you just can't have a problem with barack obama. i want to know if there's redundancy and inefficiency anywhere. >> did i mention barack obama or the democrats? no, i understand it. we're going to check out that redundancy, let's go through the whole budget and look at all the redundancies. >> and you've done that before. >> why don't you help us do that so we can stop paying unemployment benefits. >> alicia, you think we're going to find out

significant beneficial effect on unemployment and output over the past year. >> sreenivasan: president obama also called in former president clinton today, to encourage business leaders to invest and create jobs. but republicans dismissed the administration's economic efforts. senate minority leader mitch mcconnell said, "the fastest- growing parts of this democrat economy aren't jobs. they're the crushing burden of the national debt and the size of the federal government." wall street lost its recent momentum, after the fed issued its weaker economic forecast. stocks were mostly higher, but not by much. the dow jones industrial average added less than four points to close at 10,366. the nasdaq rose seven points to close above 2,249. b.p. got word late today to proceed with testing a new cap on that gushing oil well in the gulf of mexico. the effort had been in doubt much of the day after federal officials asked the company to delay the test. oil spewed unabated from the blown-out wellhead, after the operation to test a new cap was put on hold. b.p. and top government officials called off th

and so, i said well senator, why don't you just let me stick this on the budget because it's the only thing you can't filabuster. that violated something called the byrd rule. thought go ahead and name the rule for him. i said you really ought ought to suspend it because you are spending so much money on health care and we can't do it to offer health care to everybody. he looked at me and he said that argument might have worked when you were a professor in law school. but you know, as well as i do, it is substantively wrong. he wouldn't do it. then in his defense, he turned right around and he worked his heart out to break that filabuster, trying to the very end not to get me to give up the fight because he thought if we tried we could find some errant republican who would make a mistake and vote with us. point i want to make is he made a decision against his own interest, his own conviction. his own fight.i that's one reason i thank god that he could go in his wheelchair in his most significant vote at the end of his service in the senate and vote for healthcare reform and make it [a

she's got to balance the budget. in washington, they've had pay raises of 2%, 3.9% and 3.5% over the last three years, and president obama has proposition for an increase of 1.4% next january. no way. now, how much did we save if we freeze federal civilian pay at 2010 levels? we save about 2 billion a year. is that going to get us to the promised land? no. but those are the kinds of decisions that you've already made that we have to make as recommendations in this budget. >> i saw four hands. if i could ask my colleagues to be as expeditious as possible. we're a little beyond our allot time. >> thank you, sir. gentlemen, thank you for your service. governors have the responsibility constitutionally to balance their budget. they cannot borrow money in most cases. the federal government has to have the ability during times of emergency to be able to take care of national issues. but at the same time, is there any structural change that can be made that would -- other than a constitutional amendment, which would bear or

brings forward recommendations that have real budget cuts in them. i expect that we will make those recommendations to him. recommendations that he has said will reduce the cost of entitlements and help restore our nation's long-term fiscal string. i do think that there is no conflict in the two worries that people have about our efforts. none of our recommendations take place until fiscal 2012. if economic recovery is not on its way by then, we have big problems that we have to face. we should be able to tackle the second part of this, and that is to stop, reduce and then reverse this ever-increasing amount of debt that is building up that will destroy our nation. today, we have an interesting agenda. i will start from the end. . . and send your own ideas to how we can reduce the deficit to .fiscalcommission.gov. we will hear from the three working groups, which have been working really hard in a non- partisan manner, and i think we are making progress and will also take some time to discuss our priorities, our principles, and our game plan for the

it amounts to about 2% schramm of what obama requested -- 2% trim. guest: there is still going to be $200 billion higher than three years ago on discretionary programs. they are saying cut 10% -- or less than 7% increase from three years ago. i bet most american families would love to have that kind of increase from three years ago in their personal income. host: but they note it is coming from senate republican appropriators who in the past -- guest: it is about time. host: in the past it not when to cut programs -- guest: that is the problem in congress. there are three parties. republicans, democrats, and appropriators. appropriators like to spend. and then like to earmark -- they like to earmarked and direct money because it incurs power to them. we ought to be making every tough choice we can right now so we can pay for unemployment and not charges -- charge it. it is a moral question. do we really want to live off of the backs of the future of our kids? host: we tried to get a couple more phone calls in here. tampa, florida. guest: i watched yo