going to happen in 2012. tell me where you sit right now is 2012 going to be a better year economically than 2011? is there going to be economic growth? are we possibly headed into further stagnation? well, you know, the political strategist side of things i ve never had to look so much at politics to figure out where the economy was going. i tell you, it s like watching the keystone cops. it s ridiculous. going forward we do have momentum carrying us into 2012. we hope we don t lose it because of political ineptitude. that s what would kill it. we have a lot of icebergs ahead. we hope politicians are better at navigating turbulent water than the titanic. a glimmer of hope in the labor market. looks like the situation bottomed out after things fell apart last spring and the summer. we re seeing momentum return to job hiring. some momentum but some is better than none. new business burst, that s important to the backbone of the u.s. economy. that s looking nor strength going
usual, no agreement on how to pay for it. candy crowley is cnn s chief political correspondent and anchor of state of the union. political theater aside, you think congress will eventually get this done? i absolutely think congress will eventually get this done. particularly because we have seen republicans now saying we even the senate republican leader mitch mcconnell said even if you don t believe that this actually helps the economy, it certainly will help the people that get the break from their payroll taxes. this is just not you don t want to go home at christmas and having raised everybody s taxes. not going to happen especially when it is your point of view that you are never going to raise taxes on anyone for any reason. that s a little hard to square that. also with us this morning, former new york times columnist, distinguished senior fellow. stephen moore, editorial writer at the wall street journal. candy dealt with, you know, whether congress will e
stands to pay $1,000 more in taxes in 2012. there seems to be bipartisan support for extending it but as usual, no agreement on how to pay for it. candy crowley is cnn s chief political correspondent and anchor of state of the union. political theater aside, you think congress will eventually get this done? i absolutely think congress will eventually get this done. particularly because we have seen republicans now saying we even the senate republican leader mitch mcconnell said even if you don t believe that this actually helps the economy, it certainly will help the people that get the break from their payroll taxes. this is just not you don t want to go home at christmas and having raised everybody s taxes. especially when it is your point of view that you are never going to raise taxes on anyone for any reason. that s a little hard to square that. also with us this morning, former new york times columnist, distinguished senior fellow. stephen moore, editorial wri
horn of africa. the united nations says it has received half of the $2.5 billion it needs to tackle the crisis. china says it is slowing down its bullet trains and stopping new construction because of an accident that killed last month that killed at least 40 people. the accident was blamed on design flaws on equipment. and syrian troop efforts are growing to end the crackdown. under scored the urgency of the situation there. those are the top stories from cnn, the world news leader. world business today starts right now. good morning cnn london. and a very good friday afternoon, from cnn hong kong. i m andrew stevens. you re watching world business today and the top stories for today, friday, august 12th, four countries go to protect their banks. a short-selling ban goes in effect today. growth slows to zero. and several reasons to celebrate. a reversal of fortune for this group, whose company just announced massive layoffs. let s get straight to the mark
the huge spending that s going on in washington? not sure rick and simon know the answer to that, but let s ask anyway. well, i think they should i think what the viewer should look at is how can people who are younger today be able to invest personally into safe accounts, social security, still can t touch it until you re retired and invest that money on a dollar cost average basis that over a lifetime would pay far more than social security, which is actually in the red now and it doesn t have a return. so i think younger people should do that, while keeping promises to our current seniors. i think two quick things. one is i think we have to look at things like extending the retirement age and other ways of changing social security to put it on a firmer financial basis, and i think just like your caller said, i think seniors in this country, if the prescriptions are reasonable i think their going to be