and that s because all they have to offer is the same prescriptions they ve had for the last 30 years. have a surplus, try a tax cut. deficit too high? try another. feel a cold coming on? take two tax cuts, roll back some regulations and call us in the morning. now, i ve cut taxes for those who need it. middle class families, small businesses. but i don t believe that another round of tax breaks for millionaires will bring good jobs to our shores or pay down our deficit. i don t believe that firing teachers or kicking students off financial aid will grow the
solutions, many of them, lie with congress. but there are causes and there are many of them. a simple answer would be the cleanest, the most convenient, out of control deficits or stimulus. it s barack obama or george w. bush, but it s not that simple, not that satisfying. one cause however does stand out amongst many. cheap and ample credit. for years the ability of almost every working american to access more credit than they should have been able to, masked the underlying fact that lower and middle class incomes were not rising. people felt and in many cases actually were wealthier than their salaries or socioeconomic status would suggest. getting a loan and buying a house, often more house than you needed or would have expected to buy, made you feel wealthier. as more people bought those houses, your net worth increased. you borrowed against that house, maybe. maybe you put your kids through college with the money. maybe you bought another house or financed a small busine
solutions and right now, those solutions, many of them, lie with congress. but there are causes and there are many of them. a simple answer would be the cleanest, the most convenient, out of control deficits or stimulus. it s barack obama or george w. bush, but it s not that simple, not that satisfying. one cause however does stand out amongst many. cheap and ample credit. for years the ability of almost every working american to access more credit than they should have been able to, masked the underlying fact that lower and middle class incomes were not rising. people felt and in many cases actually were wealthier than their salaries or socioeconomic status would suggest. getting a loan and buying a house, often more house than you needed or would have expected to buy, made you feel wealthier. as more people bought those houses, your net worth increased. you borrowed against that house, maybe. maybe you put your kids through college with the money. maybe you bought another h
capitalism and free markets and less government. so, instead of trading more government jobs, jehmu, we need to give more to the private sector and let the private sector do it and the this is about firing teachers, not laying off teachers and jehmu and angela, we thank you both. obviously the arguments and debates continue in terms of what s going to be done. thank you for your perspective on this. thanks, kelly. thanks for having us. jamie: coming up, protests erupt overseas as european leaders discuss how to handle an economic crisis, that s straight ahead. how european countries drowning in debt may drag down the u.s. economy, hurt your retirement account and cost you money. kelly: serious new trouble for lindsay lohan, what police are saying after an accident involving a dump truck. jamie: and from homeless to harvard. this could be the most incredible story you ll hear today. one woman s journey, listen.
and abused and i now agree with those who say it needs reform. it s tough to do, because in part in the middle of a session, when you see the bad mid-term coming up. none of the democrats who thought they with going to be in the minority. wanted to get rid of the filibuster. why it is that given the argument you made about the logical consequences of short-term stimulus, of not firing teachers, why the politics of the debt retain their power or if they do after this. time for your the your business entrepreneur of the week. mariah is founder of citrus lane. customers sign up for a subscription and once a month get a surprise package of baby products. she did her own market research. focus groups, testing and surveys to fine-tune her products and packaging. for more, watchsunday mornings . [music plays]