associated with congress in a long time. will the super committee become super congressional heroes? up next, the lessons learned from the debt debate, and how the triggers could add up to trillions in deficit cuts. and rick perry s campaign secrets. the tactics fly in the face of conventional wisdom, but they compelled him to victory before. could it happen again? a look at the president s schedule. an event to talk about bills that he wants to see passed that are likely already likely to be passed in the next couple weeks. you re watching the daily rundown on msnbc.
are saying and they are billing as a major economic speech, two pieces to it, a jobs plan as well as a deficit reduction. he s going to challenge the shaouper committee on capitol hill to go beyond the $1.5 trillion in deficit cuts that are already supposed to be on the table. the president giving a little preview of all of this to our affiliate in an interview about what he is planning to push congress on. if we get that under control we can actually pay for some additional job programs in the here and now. and it s that kind of combination that i want to be able to present to congress when they come back. reporter: now the challenge for the president is if it sounds familiar that he s having a major economic speech, that s because it is familiar. he does this every few months. the white house bills a major economic address with a plan, proposal. the spokesman for john boehner saying, quote, we really don t need another speech, seriously just drop it in the mail, podium
400-plus-point gain was a blip or perhaps a building block. well, sadly, we got a decisive answer today, the dow industrial average plunged 520 points, 4.6% amid jitters about europe s debt crisis and growing resignation that the long-term prospects for growth here in the united states are bleak. alison kosik watched the massive selloff up close. john, we had yet another brutal session here on wall street today. you know, there s a lot of uncertainty about the economic outlook here in the u.s. and in europe as well. you know, there s worries about france being downgraded like the u.s. debt was downgraded. they really accelerated the losses in the final minutes of the trading day, and then, of course, there s a fear factor that s around here, you know, investors feel like they re flying blind. no one has any idea of what s coming next or where the economy is headed, and it s that certainty that s feeding this downward spiral, but i also want you to keep in mind, what s also
average plunged 520 points, 4.6% amid jitters about europe s debt crisis and growing resignation that the long-term prospects for growth here in the united states are bleak. alison kosik watched the massive selloff up close. john, we had yet another brutal session here on wall street today. you know, there s a lot of uncertainty about the economic outlook here in the u.s. and in europe as well. you know, there s worries about france being downgraded like the u.s. debt was downgraded. they really accelerated the losses in the final minutes of the trading day, and then, of course, there s a fear factor that s around here, you know, investors feel like they re flying blind. no one has any idea of what s coming next or where the economy is headed, and it s that certainty that s feeding this downward spiral, but i also want you to keep in mind, what s also fueling this volatility are the computer models that many institutional investers use to trach stocks, as the market falls,
and i m telling you, i would hope that the republican tea partiers and everybody else would understand that what we need to do is create jobs. the most sensible thing they could have done is to put an unemployment trigger in these deficit cuts that they were doing. if they would have said we don t start the deficit cuts until we get down to 6%, and then we ll start them most of the deficit cuts are back loaded. they re timed to phase in over years from now. so they re not upfront. it s only $22 billion up front. epi say it s going to cost about 1.8 million jobs over the life of this thing. that s not what we need right now when you have 14 million out of work. a lot of people would debate those statistics from one particular outfit they re the one group that s been accurate in this whole mess. they predicted it. they said that was going to happen. they said the depth of it and what we needed to get out of it. you re talking about the