that would help put our economy on a stronger road to recovery. so it is not stimulus. are you prepared to deficit spend? there are certainly proposals in here that would do that. my next guest supports what the president is doing. democratic congressman from massachusetts joins us now. congressman, in 2007 president bush, then president bush agreed with nancy pelosi on a $168 billion stimulus plan. in march of 2009, president obama passed the $814 billion stimulus program. and now, after all this spending we have 1.percent growth. why do you think another stimulus program would work this time around? guest: we have to do something. doing nothing is not an option and if you are in trouble in a
make money. like it or not, that is what their legal purpose is, that s what they do. if a ceo doesn t make money, that ceo is out of business. so laws and regulations are the only things we have standing between corporate greed and us as citizens. that s why laws have got to be changed. whether it s goldman-sachs, big energy or the big health insurers or bp to change their ways. here s the real question and my favorite analogy is that there are reps in a game. if you don t have refs, ray lewis is going to take payton manning s head off. that s what he s trained to do, so you need the refs, but does the obama administration not understand that concept? that they re just not going to do the right thing? the oil industry owns the place because for example last year alone just that industry spent 168 billi$168 billion milliog
estimate are trying to revive the public option. this time they re touting it as a way to shrink the federal government, claiming it could save $168 billion over 20 years. is that really the case and what does this have to do with the president s recess appointment of dr. donald berwick? fox news legal analyst peter johnson, jr. joins us with prescription for truth. this the stealth appointment that s middle of the night appointment of dr. berwick who believes that the socialized health care system in great britain is romantic in some sense, it s no coincidence that this public option notion, the notion that government will take a big chunk out of health care in america and run it is coming forward based on his statement. steve: how is that possible? they passed health care. it wasn t in there. how can they do it? by the passage of health care. and this is another more than
$168 billion in continued stimulus in the president s 2011 budget, according to the heritage foundation. and the administration supporting another $100 to $200 billion more in unemployment benefit and other spending measures but the congress has not approved the last item because of the continued voter concern about the deficits. shannon: so much of it goes back to the november election. it does. shannon: peter barnes, great to see you. freddie says average rate for 30-year fixed loan dropped to 4.57%. retail numbers for june are described as mixed. department stores did well and discounters did not. the dow was up for a third day in a row gaining 120 3/4. the s&p 500 finished ahead ten. nasdaq was up almost 16. money problems in greece led to a nationwide general strike. since they didn t go to work, 12,000 people protested the us a terry plan. demonstrations occurred as
americans think they are overtaxed. only one out of four says no. what does the new tax increase do to your wallet? exactly what s change when it comes to taxing the american people? reporter: the national debt is expected to more than double in the next decade so the search is on for more revenues. the first big move comes at end of this year when president obama intends to end tax cuts for the wealthy. and keep others some people cheer. we can t afford to continue the tax cuts for the people at the very top. reporter: president obama intends to raise the tax rate for singles make $200,000 and couples make $250,000. that will brings in $168 billion in additional revenues.