epa has grown 130.8%, the energy department has grown 170.7% with the stimulus, education has grown 180.6% at a time when the economy has actually seen negative economic growth, and family paychecks have shrunk. reporter: and republicans along with many democrats argue defense cannot bear any more cuts. director elmendorf made clear whatever the committee does to cut defense or nondefense spending, the bigger threat is unsustainable spending in into it elements such as medicare. mandatory spending is a growing share of federal outlays, in some cases growing rather rapidly. and without addressing that path to spending, it would be extremely difficult to put the budget on a sustainable path. reporter: but liberal democrats held a rally today, megyn, to say they won t support any plan that includes any cuts in entitlements whether they
up right now, and that s a good sign considering we re more than halfway through the trading day. you are seeing stocks rally on good economic news of the jobless claims numbers fell last week and we got strong corporate earnings from a bellwether company, cisco system, and you are seeing wall street focus on the positive today and we are seeing the bargain hunting going on as well, and you are seeing the bargain hunters getting in there and buying stocks up, randi. and the trader mthere with you, allen valdez. what about the first time they dropped below 4,000 for the first time in four weeks, and how much do you think that contributed to the rally we are seeing today? well, under 400,000 you know, that jobs number is probably the most important number for traders. it really is. we watch that number on a weekly basis. and this economy is powered by consumer spending, so if the consumer is not working he is not spending. anything under 400,000, they re not spending. l
was the sixth straight month of job growth, the most since may of last year. well, the positive report sending stocks to their highest levels of the year. it was a broad-based rally today. the dow up 57. nasdaq up 9. s&p up 7. the report also sparked an increase in oil prices. with the markets trading on the thought that an improving economy will mean more in and for energy. crude which is already at its highest level in two years up another $1.22. now $108 barrel. ouch. mike emanuel it fox top story. the trajectory of the economy is improving. shep that is correct. unemployment dropping a full point over the past four months. they like to point out here that s the best decline on the unemployment rate since 1984. but, here s the president s chairman of the council of economic advisors. listen. pg 8.8% is still too high. we still got a long way to go. but it s not a jobless recovery
hour, congressman cantor shot down that number to cnbc s larry kudlow. nobody is rallying around that 33. that number is not a number that i ascribe to. the tea party members of the republican caucus literally did rally today, and it was a rally around a number. 61.5 billion. that s where the fight came down on hr 1. the first cr. all right. so let s fight on that, then. that s ground we ve taken. let s hold it. this is a defining moment for the new majority in congress. not that $61 billion in cuts is anything to write home about. cutting 61 billion in my opinion is a starting point. it is not the goal. joining me now is a tea party republican lawmaker who spoke at that rally today. congressman joe walsh of illinois. thanks for joining us tonight, congressman. lawrence, good to be here. congressman, did you realize as soon as you heard eric cantor
the jordan prime minister reacting to clashes that happened in their, in the capital city today, saying it was the beginning of chaos and unacceptable and warning of consequences if other clashes erupt. if rally today, dozens suffered injuries as protesters demanded reform, clashed with government supporters in the capital. the two groups throwing stones at each other, and demonstrations in other regions, starting first in syria where thousands gather for a day of dignity. we have amateur video that recorded part of it. look. there was also a pro government rally in the capital of damascus, syria, and witnesses say troops fired on the demonstrators. and then oil rich bahrain, a funeral for a 32-year-old who died yesterday, the family