particularly our budget office director, douglas elmendorf. thank you for being here. thank you for your good work. we will focus again on the economy and steps that can be taken to focus on the recovery and create jobs here last year, at my request, the congressional budget office completed an analysis of the so-called bang for the buck achieved by different fiscal policies proposals. cbo has not updated that work, so we thought it would be useful to have director elmendorf here today to report on his agency s latest conclusions. i am hopeful that congress will .onsider ceo s analysis i would like to begin by briefly reviewing the economic situation now confronting the nation. it is clear that economic recovery we are now experiencing is not what it should be or what we would like it to be. here are some of the factors i believe that are holding back the economy. unemployment remains stubbornly high. the housing crisis that helped spark the downturn is continuing. we have we
cable satellite corp. 2011] [captioning performed by national captioning institute] . we are live at the national press club where maryland democratic gov. martin o malley, briefing on the economy of the 2012 election and jobs. live coverage on c-span. good morning. welcome to the national press club and today s news program. i am ed lewis, a member of the newsmaker committee. thank you for being here. this might be a good time for everyone to put their mobile device on a vibrant, if you will. this morning, we are fortunate to have as our guest the governor of maryland, chairman of the democratic governors association, martin o malley. with the 2012 election around the corner, we hope he will share a few notes from his election playbook on the role democratic governors will play nexteir party s resurgence year. first elected in 2006, he was reelected last year with 56% of the boat, a 13% margin over his opponent. under his administration, maryland has cut nearly $7 bill