bill: jeri willis check her out on fox business network. the wills heirs money through friday at 9:00. alisyn: we want to give you more context on the situation in california. san bernardino is the third city to file for bankruptcy. stockton filed for bankruptcy after they could not reach a deal with creditors. mammoth lakes is facing a $43 million budget, twice the annual operating budget. bill: the federal deficit hitting $904 billion on june remaining on track to top a trillion dollars for the fourth straight year. the cbo says this year s deficit expected to be lower than last year s $1.3 trillion, but it will still be greater than any deficit before president obama
virginia about these pending defense cuts. recent surveys suggest virginia is number one in the country in terms of defense spending in its state. republicans are saying to president obama where is your plan to deal with these defense cuts. bill? bill: mike you, thank you. to our viewers at home, hear a lot about virginia. it flipped in 2008. we had not seen that in 40 years. go back to 2008 on the map. red is republican. blue is democrat. blue is the way virginia went for president obama over john mccain by seven points. that was a stunner in that state. look where he is going today. red is now for mccain and blue for obama. john mccain won west and southwestern part of the state overwhelmingly. up in washington, d.c., president obama as senator was very strong. this is norfolk and virginia beach, it was really a split here. go to virginia beach in small little county. you will find something quite telling. 50% for mccain and 50 for president obama. just to the west there in
bill: mike emanuel at the white house. what issues do we expect him toe emphasize. reporter: real clear politics average shows president obama up by three in virginia. he won by six in 2008. everyone is expecting a closer race. part of the bus tour is president obama trying to invigorate and energize key constituencies, latin american voters, african-american voters and young voters. let s agree on that. that does create an important amount of economic certainty not just for the recipients of of that tax cut, but for the broader economy. it address as portion of the so-called fiscal cliff. let s do it now. let s continue to debate the issues where we, whether it is, contention and disagreement. reporter: how big is virginia? well the ad-spending between the two campaigns has been huge. the third most ad spending of any of the states in this election cycle. bottom line, it is a critical state and so, that is why president obama has been there 15 times since announcing he
the world s top economic super power, not the u.s. that is from the seam poll which shows the world s view of president obama is dropping. the research center surveyed folks across 21 countries and found growing disapproval of the president s foreign policies especially the targeted drone strikes. here is the measure of confidence in the president when took office. high inure on and asia. low in the middle east and russia. the numbers dropped in every region over the past four years. and check out the huge drop in china. comes as folks around the world say they view china as the leading global economy. of course, they are wrong. the financial business network s jeri willis is here. facts get in the way sometime. fact is whether people believe it or not it is just not true. perception is not necessarily reality here. we have an economy more than twice the size china s.
he has taken $4 trillion in u.s. funds. this guy should be going to prison. him and 18 others. we need to listen shepard: they drag out 6 demonstrators and the ceo began testifying. he said they made mistakes and management was to blame for not catching them. the portfolio morphed into something thatiated new and potentially larger risks. as a result we let a lot of people down and we are sorry for it. what are you learned from this problem? i think that no matter how good you are, how competent people are, never ever get complacent in risk. challenge everything. make sure people on risk committees are always asking questions. shepard: and the ceo said the bank would probably claw back money from senior executives. but new regulations? we don t need that. mike emanuel is on capitol hill. no new regulations but fireworks for sure today. only when a senior democrat talked about this could happen again, be many times worse and then what and then he went after jamie