put lipstick on this pig. welcome to "your $$$$$." i'm ali velshi. christine romans the host of your bottom line, my good friend, has been studying these numbers. she breaks it down for us. christine, everybody who watches knows some jobs day we have some area of disagreement. i can't find one. >> you and i are together on this. the glass is half empty. you and i both see it that way and it's rare. 69,000 jobs created. this the world's largest economy, the world labor the world follows, the biggest driver of growth. there you go. if people don't have a job, they can't be spending money. here is the trend, look. this is what's important. you don't look at one month of data. you like to see what the trend is nor markets and economics. the trend after 200,000 jobs created and more, people are saying, it's healing, look, the rearview mirror, a slow jobs recovery, then a stall here. one of the reasons might be europe. quite frankly when your biggest customer has countries in it that are in recession, that doesn't mean if you're a big company in this country you want to be adding workers. that could be part of it. private and public sector jobs. you and i talk a lot. 86,000 private sect or jobs created. you want to see more than that. 13,000 private sector jobs lost. there's that tug-of-war, private sector trying to create jobs, public sector losing jobs. that's where it gets political. you hear people on the gop say, this shows the president's policies aren't working. >> the problem is what's the answer to that? if the president's policies representative working, how do those that say we should be cutting spending fit into the equation. >> public spending will mean more public sector job loss, which means you'll have another drag here. for the gop you have a double edged sword in these economic numbersf you're talking about the politics of the jobs report. most people aren't talking about the politics. they are talking about their personal economy and whether there are more opportunities. >> who is going to swing into politics fast, possibly within the next couple minutes. before we get to will, diane swonk, chief economist at mesirow financial. why after seeing and feeling an economy that looked like it was chugging along quite nicely are we seeing this and the revisions of the last couple of mondays. what that weakened. >> a couple things are important. first, reduce the economy with unseasonably warm winter weather and had some payback to that these numbers go far beyond to payback of unseasonal wechlt they are weak. they are weak in a lot of areas we need to take note of. it is important, too, you noted the wedge between public and private sector employment. that had narrowed. many people had taken on with the first cut of gdp in the first quarter with local cut in the first sector rising this would not be the headwind. yesterday that dat ark was revised down, this week that data revised down. now we're showing state and local governments are continuing to cut the bulk of the public sector job losses were, again, teachers. on the federal level postal worker reduction in payrolls there. that's where we saw the rest of it. mostly teachers at the state level, local weather. again, that wedge. the public sector now beginning to play the headwind once again. also europe, let's face it. we're not an island. not only is europe weak but china is weak. china is weakening. china buys a lot of our heavy manufacturing equipment. the global economy, again. we're not an island. this matters. uncertainty. we saw exuberance of the '90s people invested even when it was wasteful, now a pullback uncertainty about policies, kicked down the road -- the thirst year we kicked down the road policies fiscally and u.s. and europe and accumulated and got worse. there's no reason to make certain about a bet in the future even when you've got a bet on your balance sheet in front of you. >> you gave fantastic answers without invoking politics. will cain, it was moments after that unemployment came out you heard from everybody politically what was wrong with this world politically. i argue to you will cain this issue transcends the ability of barack obama to deal wit. these head winds are global, as diane said, some are cyclical but nonetheless it will work into the election. >> i love the way diane broke it down. china, europe, uncertainty. i would agree on two of those three factors. china and europe are outside of the president and policymakers' control but policy is not. if i have a criticism of barack obama it lies in that uncertainty. when businessmen across the country don't know what the tax rate they will pay in the next year or what the regulatory environment will be or how their health care will be handled, that creates uncertainty. >> let me stop you there. i want to bring christine in to complicate it more. >> it's not complicated enough. >> you have a number there. talking about underemployment. a lot of people tweet me, say unemployment risen to 8.2%. people think i am flat out lying to them. >> there's a labor market that's a labor market measured, people in the market working on actively looking for a job and unemployment rate is 8.2% of that group. then there's a group called the underemployed. that's a bigger number. in the job report it's 14.8%. those are people who are unemployed, marginally attached to the workforce. they are working part time for economic reasons. they would like to be working fulltime, for example, but they just can't get that job. this is the underemployment rate of 14.8%. that's a more troublesome number. there are people who throw in, talk about real unemployment rates bigger than that. they are throwing in people who aren't in the labor market, discouraged and dropped out for years, people who would like to be working but can't. lou at the population, american population that's working. you know, it's less than 60% of adults working. so there are a lot of different numbers to look at. you'll see the politicians parsing these. >> you're in the same studio as me and you can't see will's case. i'm not sure if he didn't eat good food or something is troubling him. >> you're looking at christine and saying that doesn't make sense. >> it all makes sense, you can play the death star music when lou at numbers. the guy in charge of the schizophrenic economy no matter whether he's to blame for it or not is going to pay the price for bad news. >> hold this thought. we will divvy this with all the folks. it's like will, i gave him a piece of chewing tobacco and didn't let him spit it out. what happens when the safety net is gone. a lot tweet me about it. let's talk about it. forty years in the making, one of the largest public works products in american history i went inside new york's new subway line. i'm going to tell you why no matter where you live, you're paying for a piece of this. there are a lot of warning lights and sounds vying for your attention. 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[ man ] saw 'em in '83 in fresno. place was crawling with chicks. i got to go. ♪ any way you want it ♪ that's the way you need it ♪ any way you want it ♪ christine said something interesting a few moments ago. she said the whole larger macrodiscussion isn't important. she said it's what's around you, what affects you, that's what's important. i want to show you a map of the united states color coded into red, green, gray. those states in red have an unemployment rate substantially higher than the national average. those states in green have an unemployment rate that is below the national average. those in gray, keep in mind while they don't look like there's as many of them, they are heavily populated. look at everything east of the mississippi, a lot of gray. right about the national average of 8.2%. this is interesting. a chunk of this country in the middle doing well. this election, christine romans this election is going to come down to votes in swing states, places like ohio, florida, where unemployment is going to matter. >> that's why you're seeing the obama administration fine-tune the attack on the mitt romney's record as a job creator, bain capital, massachusetts. this started as an attack on bain capital and private equity and moved quickly into what kind of economy he really left in massachusetts. they are going to keep hammering on that because they want to appeal to those lunch bucket democrats in towns and cities in battle ground states who say, the factory that closed down the road, people like mitt romney who did that, people like barack obama who saved the auto industry. that is the story line at least they are going to try to keep because those battleground states are important this time around. >> i think this is a fascinating analysis. barack obama and the democratic machine have a tough pill there. they have a tough job. that's convincing americans this economy is headed in the right direction. i think, in fact, that's why they went onfor the bain capital attack because that was the easier one to make. that didn't work, moving to a stewardship of massachusetts, they have to tack that from the left. meaning two things, attacking health care and job production record. that's not a strong place to tack from unless, as you point out, micro target that. hey, the national creation isn't that great. in ohio, not that bad. i don't know if you can micro target. that's interesting. >> i want to take this somewhere else. diane you pointed out in our last conversation that a lot of these jobs are teachers. they are state employees. as state employment rates improve in those green states, they lose the ability to offer extended unemployment benefits. by the end of summer, extended unemployment benefits, 99 weeks, 79 weeks in some cases will be gone. states are scaling back on seasonal benefits, checks that might go out to school bus driver, for example, 5.4 million americans officially out of work for more than six months or longer. this is a doubly complicated issue now. we're going to be pulling back on some employment benefits. that's going to affect demand and employment further. >> absolutely. the one issue that isn't clear-cut, once you pull back on unemployment insurance those signature on the sidelines would jump back in the labor force and take any job at any price at any wage. what we did see last month many of those workers dropped out, ran out of benefits. nine states dropped benefits, lost benefits in the month of april. many of those people actually, the long-term unemployed fell. they stopped looking for a job for a month. now they started looking for a job again but there's no jobs to be had. that's where the difficulty is, even if they are looking for work they are not getting jobs and not getting paid now. we know from different surveys many long-term unemployed have -- most of them borrowed money from friends, families, living with families, doubling up, putting additional financial stress on families as well. that is collateral damage. the only silver lining in this situation is, the weakness in the economy, global economy brought down oil prices. that's a defacto cut. prices are plummeting. that will help consumers with more disposable income they didn't have this year. >> as you have pointed out before, the relatively mild winter meant we didn't get into higher oil prices, even though oil prices were high they didn't hit people as much as they could have. >> right. we didn't pay heating bills. >> everybody out there saying i'm going to vote for somebody and jobs will become a big issue, is there a logical solution to what is looking like the intractable problem of our time of high unemployment and not fast enough job creation? >> well, you know, i think will made a good point. we do agree on this, uncertainty. if we are able, our worse problems today, the economy is going to grow at a subpar pace, do that out of the financial crisis. partly a given. the extent to which that happens is man made. there's not enough women leaders, i believe, that's my personal view. at the end of the day the problems we have are political in europe and the u.s. until we move forward on those political road maps that uncertainty, additional uncertainty exacerbating the problem of making these decisions when you're on the margin it really matters. it becomes more than noise. dissidents overwhelms. we don't want that dissident we now have fiscal cliffs of spending cuts substantial and retroactive along with tax hikes at the end of this year, beginning of next year that we they'd to deal with within the context of reduction. >> when you leave, and i say thank you, i want you to go to the greenroom, you'll see the president of the university of pennsylvania, her book called the spirit of compromise. i want you to explain why this uncertainty gets blamed on democrats by republicans, because nobody is compromising. >> i'll say this and take this up back stage. before you throw a parade for bipartisanship you can have authority takenship. >> kidding me, president obama -- >> just because you have one person or one party that could theoretically get policies they want doesn't mean you'll get certainty. >> that's a good point. the president of the university of pennsylvania will talk about partisanship. i tweeted you about this, who you think more to blame for partisanship in america, politicians or voters who put them there. thanks to all of you. will, great to talk to you. diane swonk mesirow financial and christine romans, your bottom line, you watch on saturdays. how is the economy doing? so many conflicting indicators i've spent the week pulling my hair out. let's figure out it when we come back. uh-oh. 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[ male announcer ] stop the uh-oh fast with kaopectate. all right. you can be forgiven if you're confused by the recent news on the economy. some indicators are looking up, others are looking down. as we've been discussing, the most important thing is jobs. this is all the way from the beginning of the recession. well, almost the beginning of the recession. this is the end of 2008 all the way through here. we've had 20 straight months of job creation. but any optimism there has been offset by a severe slowdown in the number of jobs added each month. that's not all. let's look at how consumers feel. this is a consumer-driven economy. according to thomson reuters of michigan, they have a report every month called consumer sentiment. that's just one year. it showed in may consumer sentiment rose to its highest level since 2007. before the recession when the dow was at its all-time high due to what it says are more favorable job and wage prospect. that sounds positive. then a different body, the conference board, released its own report that says consumer confidence in may fell to its lowest level in five months because americans are less optimistic about jobs and business conditions. now, that sounds awfully pessimistic to me. that's confusing. i should tell you this report tends to be a much bigger survey than the other one. why are they going in different directions. one other thing, let's look at housing. national association of realtors said existing home prices, existing homes they rose in april by 10.1% compared to the previous year. that's a positive trend. it said it showed back-to-back price increases from a year earlier for the first time in two years. however, that was quickly followed by something called s&p case-shiller home index announcing home prices in april fell 2.6% from a year ago. a negative trend it said showed prices at their lowest since 2002. getting confused? so am i. why the discrepancy? here is one explanation. the way two indexes track sales and prices. realtors track existing homes that sell each month. s&p case-shiller compares the price they sold for compared to what the same home sold for in its previous sale. i don't know what's right or wrong but whatever the explanation, it's very, very confusing. which is it? are things looking up, or are they working down? joining me michael pinto, president of pinto strategies, registered investment advisory. his firm is a registered investment advisory and john, president and ceo of liter capital, fund manager in oregon. let's start with you. you don't see mixed signals in the economy. >> gp has been very anemic, home sales very anemic on the price level. i tend to put a lot more credence in case-shiller index. look at nonfarm payroll growth. >> numbers of jobs created. >> the most disturbing part, we lost, losing 15,000 goods producing jobs even after the recession began in december 2007 we are still not producing jobs in this country that can sell goods overseas. >> an investing expert. in a minute i'll get to what you should do about it. for the moment things are not looking good. john, what's your take? >> i have to tell you, we think things are getting betterment look, you have to look for the silver lining. nobody does anything until they have to. somebody has to -- i agree with you, the numbers are confusing. statistical data are confusing. let's talk about what's important, the bigger picture. what's going on in europe, the confidence in governments, to say the least is waning. to give you an example, governments issued 50% less in europe, corporations have issued 50% more debt. what you're seeing globally is a huge gravitation away from institutions and people investing in governments to seeing them invest in corporations, because it's a safer bet. they are more well managed. they have their house in order, run on gaap accounting. what we're seeing is borrowing cost for corporations coming in at all-time levels. seeing a huge, massive amounts of refinancings. that is going to set the table for large, large profits and cash in corporations. that is what's going to start moving in another direction. >> you completely see this differently. my confusion going into this is validated. my question is, mike, let me ask you, my question is, what -- your view, a lot more pessimistic than john's about where it's going. what does my viewer do about this. >> if you were a client of pento strategies we exited most positions in may of this year. we own some gold. mining shares have already priced in the metal going to $850 or $900 an ounce. if you can believe central bankers across the globe are going to sit on their hands and watch a deflationary fold it's not going to work well. they will go down. how far away is the ecb from another round of money printing? how far away is the federal reserve from another round of money printing? that, i think, is going to drive commodity prices higher. >> if you're john and you've got a much more optimistic view of what's going to go on, john, then your strategy is much more obvious. you're long and exposed to equities and you think the world gets a bit better? >> i'm a bond fund manager. so looks we run a short-term bond fund. we've produced a 4 to 5% for the last six years here. we beat the markets handily without the volatility. look, in the short run i'm going to agree with the pessimistic view. in the short run it's going to remain volatile. there's no question about that. i'll agree with that. we say stay in short-term bonds. treasures at an all-time low, we're providing 4 to 5% current yield. i think that's a terrific place to be. it has been for the last five years. >> gentlemen, thanks very much. we'd love to have you back to talk about this more. the one thing we both agree on is this isn't ending any time soon. the very people that helped fund president obama's house for the white house are funding his republican rival. we'll look at the speed wall street abandoned president obama and why. later, 100 feet below manhattan to find out what goes into the most expensive subway lines of all time. active naturals wheat formulas restore strength for up to 90% less breakage in three washes. for strong, healthy hair with life, new aveeno nourish+ strengthen. agents, when it comes to insurance, people feel lost. that's a dead end. don't know which way to turn. this way. turn around. 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[ male announcer ] we are insurance. ♪ we are farmers ♪ bum, ba-da-bum, bum, bum, bum ♪ according to new data from the center of politics, obama's camp has raised $3 million, that's a pittance compared to $8.5 the security investment industry committed to mitt romney. compare that to four years ago. candidate obama back then raised $16 million compared to his rival john mccain, $9.2 million. so what explains this shiflt? one explanation could be that criticism of wall street has been a staple of the obama presidency? >> large banks engaged in reckless financial speculation without regard for the consequences. not everybody has been following the rules. wall street is an example of that. >> that is what the president said. but what has he actually done? let's start back in 2008 before president obama took office, president bush signed t.a.r.p., the troubled asset relief program into law to prop up auto sector, owe $119 million according to inspector general who oversees that. in order to get the economy moving again, congress passed american recovery and reinvestment act, stimulus bill. president obama signed it into law in february 2009. one year later the president signed health care reform into law. no republicans in either house voted for it. one key provision of that law was the volcker rule designed to stop banks from making risky trades on their own account. dodd/frank, a consumer protection bureau. fast forward to this year, we find the president unveiling a plan to cut the corporate tax rate from 35% to 28% and to close dozens of loopholes. don peebles, ceo of the corporation and member of president obama's national finance committee. john fund national affairs columnist for national review magazine. john, as a conservative, what is the number one reason why wall street has not had the ability to shed its tone deafness and say we really were responsible for this stuff. maybe the president was politicking a it about. why won't they get behind the fact this is a guy who has been friendly to them. shocked. >> i am. washington shares with wall street the same goals, a stable, prosperous economy. the economic recovery began three years ago this month and how has it been doing? president obama says you pass my stimulus bill unemployment will not go over 8%. that was his administration that said that. it just went up to 8.2. economic growth last quarter, 1.9%. stock market flat last 15 months. how is that working out for us? i don't care whether it's main street or wall street, we expect results. after three and a half years there's only so much you can blame the previous administration. at some point you've got to own the economy. this recovery is the most anemic in american history, 8.2% three years in, does anyone think that's working? >> i'm almost laughing over here. they left us with the biggest mess since the depression. >> blame game. >> no, accountability. >> why don't you accept responsibility. i didn't vote for george bush. >> when conservatives stopped wreaking havoc on the country we were losing 400,000 a month now gaining 68,000. rome wasn't built in a night. we need patience. the president's policies are working. we've had progress. 27 consecutive months of job growth. he took office at a time when the country was the weakest since the great depression. he's cut taxes 18 times for small business. >> what's the uncertainty in the economy? much of it has to do with things the president can't have any affect over. >> just as presidents get more credit when the economy is better. it's true. the bottom line is at some point you have to accept some responsibility. at this point i hear blame for a previous administration which deserves some blame but the president refused to accept responsibility. >> look, this administration could do more, the congress could do a hell of a lot more. >> tell me their failings. >> more emphasis on job creation. a distraction. >> obama care, how is that working out? >> it's not in place. is there a single job that hasn't been created because of of what you call obama care. >> in january 2009 -- >> john, answer my question. you're a smart guy. is that one job not created or one american laid off? please, if you see it out there, tweet me and tell me. one job lost or created because of what you call obama care? just answer that. do you know anybody in this country of 310 million people who didn't hire anybody because of a pending decision on obama care. >> i know an employer in louisville, kentucky, i spoke to the other day who is about to drop health care insurance for all his employees because he doesn't believe obama care is going to work and obama care creates incentives to drop employer coverage and throw them into the general pool. and they have laid off three people because their health care costs went up 37%. >> my health care costs go up 27% each year. i don't blame it on obama care. it has been doing it through bush's tenure as well. health care in america is out of whack. he's the first president whose attempted to tackle this issue. >> it's been going up for years. >> the increase we got this year is smaller than we've had in years gone by. >> look, how many people work for you? >> i'm self-employed. >> how many people? do you have anybody working for you? >> i'm self-employed, a small business. >> i'm small business, too. i started off my company with $600. by the way, i prospered under ronald reagan, george bush. >> how are you doing now? >> under bill clinton and under barack obama our business is now growing this year. >> god bless you. >> the reality is who the president of the united states is has some impact on business and some impact on the economy. but we as business people, we as american citizens have to accept responsibility, too. the fact of the matter is banks are getting rewarded every day for not making loans. they are not making loans to small businesses who are going to create jobs. wall street has conducted itself for decades as though they are a casino in las vegas where under the circumstances to -- where you get to play with the house's money. >> you have to bail them out. you just said you have to bail them out. >> we have agreement. gentlemen, we must do this again. >> he now agrees we shouldn't have bailed out wall street and the banks but said something different a minute ago. >> no, i didn't. no, i didn't. >> we'll have you guys back for this conversation. don peebles, ceo of peebles corporation. and national columnist from the national review. washington is, as you've heard, gridlocked thanks to a hyper partisan environment. my next guest says it's you're fault and partially mine. i'll explain next on "your $$$$$." there are a lot of warning lights and sounds vying for your attention. so we invented a warning.. you can feel. introducing the all new cadillac xts, available with the patented safety alert seat. when there is danger you might not see, you're warned by a pulse in the seat. it's technology you won't find in a mercedes e-class. the all new cadillac xts has arrived. and it's bringing the future forward. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪ the word "compromise" has ten letters except in washington where it's a four-letter word. take a look at this chart from the university of georgia. congress is now more polarized than at any point since the 19th century. the higher the line the greater the ideological distance between the parties. by the way, the blue line shows the difference between democrats and republicans in the senate. the red line shows the difference in the house of representatives. when you see it over here, you can really tell the difference in the last few years how partisan the house has become. voters are showing frustration with this gridlock. according to polling from gallup congress's approval rating stands at 17%. that is lower than richard nixon's approval rating during his impeachment. even congress is frustrated with congress. moderate republican olympia snowe cited washington's hyper partisan atmosphere as the reason for her retirement. >> people are just stunned by debilitating partisanship, overall dysfunction even the most perilous times facing our country we couldn't get together. >> amy, president of the university of pennsylvania. she is the co-author of a new book "the spirit of compromise, why governing demands it and campaigning undermines it." welcome to the show you thank you for being here. >> pleasure. >> you heard on this show there's a lot of partisanship. it permeates what's going ochblt you have pointed out you think there are a few reasons of this. one, the cost of campaigns, the need to constantly raise more money. 24/7 echo chamber we're part of. what else? >> relationships have disappeared in congress. that's part of the campaigning mentality which is that politicians are campaigning all the time. it's as if every day were election day. that means they are not sitting down with each other and doing the work of governing. >> when you look at olympia snowe and over the last few years the people who left, one refers to hem as reaching across the aisle, great relations with other people. people who looked to see which way they are voting. why has that changed, why is that absent, those relationships. >> olympia snowe could have won by a landslide but she decided to lead because she was fed up with the fact she couldn't get anything done in washington. what's happened is very simple, actually, and very sad, which is our politicians are out of washington more times than they are in there and they don't have the kinds of relationships -- they don't know each other enough to extend the respect of sitting down. what i like to say is when it comes to compromise, familiarity breeds attempt and we're not having the attempt to compromise anymore. >> the issue here, of course, what we've heard at every stage in this economy, the uncertainty, unknown about how politicians deal with it, by the way, this is in europe as well, is what's crippling businesses and people. they just don't know they will elect this bunch of people who will come to reasonable solutions. >> yes. here is the hope. after this election, nothing is going to happen before the election. everybody agrees on that. that's a sad commentary. we're now in election mania. after the election, the bush tax cuts are going to expire. the sequester is going to go into effect. that will be a disaster by everybody's lights. so the voters are electing people who they are going to want to sit down and compromise and not just kick the can down the road. here is a striking falk, the majority of tea partiers wanted their representatives to compromise in the face of the debt crisis. >> yet you have people like grover norquist who comes on this show a fair amount you sign a thing that says no tax increases under any circumstance and there are many congress members beholden to that. >> you have alan simpson who says that's crazy. simpson-bowles is the kind of big, bold compromise this country needs. the vast majority citizens would rally behind if there were leadership in congress. three republicans and three democrats who voted in favor of it and three and three who voted against it and the president didn't rally behind his own commission's recommendations. that was, i think, the low point of the uncompromising mind-set in this country. i think we'll see a shift after the election. >> amy gutmann pleasure to have you. coming up, facebook stock flopped in the last two weeks since it opened. is this your chanceing to in on a bargain? 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[ male announcer ] one pill a day. 24 hours. zero heartburn. it be is one of the biggest public works project in american history a cost of $4.5 billion for the nurse mile and a half. top complete the subway line rung near lir the length of manhattan would cost between $22 billion and $s 24 billion. what is behind the enormous tab? >> reporter: backhoe ex-xa valuators that can cost $700,000 apiece. man lifts that sell for up to half a million bucks. see that hydraulic drill jumbo? they can go for 800 grand a pop. these are the machines of modern day civil engineering. new york city has them working full speed ahead on its new second avenue subway line. >> subways are expensive. to give awe sense of perspect e perspective. way back wen, first subway in manhattan 2, 1 miles and cost $35 million. this one, about a mile and a half, for about $4.5 billion. that's more than $1 billion a stop. and that's just phase one. we went digging ten stories below manhattan to find out what goes into the bottom line on a new subway line. >> it's a bargain. it's a bargain. $800,000 a pop. >> reporter: the most massive piece of equipment used, the tunnel boring machine. the last time it used cut and cover method. digging from street level. boring is much more efficient and disrupts life above ground a lot less. >> the one that did this is 22 foot in deeiameter a little ove two stories tall. go on average, about 50 foot a day. >> reporter: one of these costses 12ds million and requires 20 people to operate it. at 50 feet a day, boring two mile and a half tunnels takes a long time. >> a linear project. you must do the tunnels before you do this. >> reporter: and highly specialized laborers are the ones doing that. sandhogs or urban miners work alongside operating engineers to drive and maintain the machine rinchts on average we pay a guy about $1,000 a day, and that's a salary plus benefits. >> reporter: it's putting people to work in a tough economy. the metropolitan transit authority expects phase one of the subway, that's 3.5 stops and a new tunnel at a fourth stop to create 130,000 jobs with an economic impact of almost $18 billion over the nine years of construction. >> new yorkers keep asking, why does it take so long? >> it is normal rrmt this is what it takes? >> it is. >> reporter: all while, americans are footing the bill no malt wrer they live. >> second avenue right now $1.3 billion comes from the federal government, and the rest of $3.15 comes from new york. >> reporter: the portion from new york comes largely from new york state bonds and mta bonds. >> and in 2016 when we swipe our card and r t