It is called the high cost of good intentions, the history of. U. S. Entitlement programs. John thank you very much. I left omb in the mid in 1998hen returned to serve as the deptive omb then left again and returned stanford. What were the lessons that thelearned working at office of management and budget. What were the lessons that you learned working at the office of management and budget. Well it seemed it was toward spen. D more as you know Ronald Reagan more than any other president. How powerful they were. The Biggest Surprise in the if. Was fr yes. Yes. Tell that story. True with Social Security. But the Franklin Roosevelt of was not like the Franklin Roosevelt of 1933. Franklin roosevelt in 1633 managed to roosevelt of 1933. In his first year in office, he removed nearly 400,000 i disabledd war the rolls he re duesed by 50 percent and extra in ry change in the whole history of Entitlement Programs. Interesting about it was the way he went about it. Entered office, of course, we
The oldest one was 20, and the youngest one was 11. So they had to deal with it then and always. Brian the question i had after i read the book, why do you want us to know all this . Katharine i really dont suppose that i meant to just tell everything to everybody, but once i sat down to write my story, i just tend to be frank and open and i wanted to be very truthful and i just wrote it the way i saw it and the way the research came up with. I told it as i the best i could. Brian when did you start it . Katharine about 6 1 2 years ago i started to do the research for this book. I actually had the idea even longer ago than that. Brian you addressed early in the book that you wrote it yourself. Katharine i did. But i also had very good assistance from a fine researcher, evelyn, my editor so i felt like i had assistance from them but i wrote the words myself. Brian how did you go about it . Katharine well, for about two years we did research because i s Cable Television companies and is
And welcome to power lunch, the bears are out today. The dow and s p 500 having their biggest oneday slide since the beginning of july. The s p 500 in fact falling below its 50day moving average for the first time in a month. Wall streets socalled fear index, the vix soaring hitting the high in five weeks gold meantime, hitting a twomonth high retail to blame. Macys is down 9 . Kohls and dillards also getting whacked. Jc penney being taken down here, brian. We begin with your money and investments. North korea, of course, grabbing all the headlines, but the defense stocks are mostly lower today and apple is the biggest drag on the dow. So is all the saber rattling really to blame . Live in washington with the latest on north korea, bob though at the nyc, bob, let us start with you how much are you hearing is north korea, is valuation, or maybe just a normal, healthy august pullback . You know, id say 75 is concerns about north korea, but we do have some High Expectations on the earning
From nbc news World Headquarters in new york, this is nbc nightly news with Brian Williams. Good evening, im Natalie Morales in tonight for brian. It is down to the wire now with about 80 hours until the fiscal cliff deadline. And on what is a Holiday Weekend for many, that is not the case for congressional leaders in washington. There was a sense of urgency today as the president met with house and Senate Leaders along with the treasury secretary and Vice President a short while ago at the white house to try and forge a lastminute deal. The president says he is optimistic, but at this hour, the fiscal cliff still looms. We begin our coverage with nbcs white house correspondent, Peter Alexander who has been watching the developments all day. Peter, good evening to you. Reporter natalie, good evening to you. After his first meeting with all of the top four congressional lawmakers since before thanksgiving, the president marched into the Briefing Room here at the white house and he said
And good morning, everyone. Welcome to today on a friday morning. Im Savannah Guthrie. Im willie geist in this morning. She is full of milk puns this morning. Holy cow. Utterly. What are you, lactose intolerant . The trifecta. Well move on to the big story, which is the weather. Were bracing for another big storm before the last one is done. Its expected to bring a new round of travel headaches during a Holiday Travel weekend. How will it impact you in more on that ahead. Also, retired general Norman Schwarzkopf has died at the age of 78. Hes being remembered as one of the greatest military figures in u. S. History. More on his remarkable life coming up. Also ahead, it happened again. A man shoved to his death in front of a new york city subway train. This time, the suspect is a woman. We will have the details. And later, well look back at how we covered the biggest stories from 2012, from Golden Moments at the olympics to the hardfought race for the white house and the unimaginable da