yet with downward revisions for the previous two as well. europe is a worry and the u.s. jobs picture and potentially the u.s. economy running out of steam. and that is why the s&p now is down 10% since april 2nd. it closed flat, the dow closed down, around about 17 points. and slightly higher at the start of trading after the germans sending out soothing messages, angela merkel saying all instruments are on the table to guarantee the safety of european banks. that said she s ruled out giving money directly from european coffers to spanish banks unless they ve got formal bailout programs. perhaps a question mark over the pace of reform. reuters has seen a government paper out of germany that says they do not expect europe to take any final decisions on strengthening the economic policy coordination between member states until spring next year. what is wrong with their time scale? don t they realize how pressing this is? back to you. may be too late by then,
economy are barack obama who speculated on the huge stimulus package which ballooned the deficit, $3.6 trillion, under obama, which created a huge fiscal problem for us and, ben bernanke. who did a quantitative easing, second quantitative easing with $600 billion. chris: tell us who that is. buying off government government bonds, government paper, to try to stimulate the stock market which he did a little bit with a little bit and lowered interest rates. and, has interest rates at 0% and we ve had a wildly stimulative fiscal and monetary policy and growth is slowing down and it has been a total failure and, key for republicans in my view is to run comprehensively against the obama-geithner-bernanke fiscal and monetary policy and, save the keynesian model, it is a perfect testament and this bumper sticker. keynes was wrong. and, bush, a populist
we make things that people want to buy. you know, wh what, pat, you remember inflation that hurt president carter s re-election bid. do you see parallels today with president obama? potential parallels. not exact. karen is correct that it looked like the economy was starting to pick up at a good steady pace and not robust. now we get to report consumer confidence is collapsing food and gas prices are surging. you have the housing market that s still in the dumpster. i have friends who have an awful lot of money who say i m getting out of government paper and putting everything into cash and things like that. and so i think that the president, 57% of the country thinks he s not good at handling the economy. i think he had a very long period of people saying we got a lot of hope in this guy. i think everything depends on the economy november 2012. karen, if you were advising the president, what is the
and you re looking at live pictures of capitol hill, where tonight house lawmakers are holding a rare late-night session to start finalizing the budget deal to keep the government running. on wednesday president obama s going to speak at george washington university about the deficit long term and short term, raising the nation s debt ceiling, which is the limit on how much money the bostgovernme can borrow. congress has never said no to raising the debt ceiling. never. not raising the debt ceiling would mean defaulting on nearly $10 trillion of government paper already in public hands being held by investors here and around the world. both sides compare that to armageddon. the last thing you d want to play politics over. but tonight, keeping them honest, both sides are either doing just that, playing politics, or having played politics with it in the past are trying now to explain it away. let s start with president obama. here s white house spokesman jay carney this afternoon. we c
[ male announcer ] we are insurance. we are farmers bum, ba-da-bum, bum, bum, bum and you re looking at live pictures of capitol hill, where tonight house lawmakers are holding a rare late-night session to start finalizing the budget deal to keep the government running. on wednesday president obama s going to speak at george washington university about the deficit long term and short term, raising the nation s debt ceiling, which is the limit on how much money the government can borrow. congress has never said no to raising the debt ceiling. never. not raising the debt ceiling would mean defaulting on nearly $10 trillion of government paper already in public hands being held by investors here and around the world. both sides compare that to