>> shep: there was a time when the manufacturing sector began to decline in the united states. fewer people had jobs, yet the money seemed okay because we had this housing bubble. when the housing bubble burst, people turned around and looked and said okay, there is inflation everywhere and things cost more and my house i'm under water. and there was no place to get the money. ed henry is our chief white house correspondent and live on the north lawn. the thinking it seems from the white house is that this sort of a tone and these sort of specifics are ones that people on both sides of the aisle might think is a good idea? >> that's right, shep. because the bottom line is that i think we should also pay attention to the fact that the president who for months and months and months had been saying this economy is better made a pretty startling admission tonight by saying basically, we need this plan to pass to give a jolt to an economy that has stalled. he is acknowledging after months and months of arguing that things were going fairly well that these most recent