you are watching cnn breaking news. i m colleen mcedwards. we received confirmation a short time ago that the republican white house candidate mitt romney is going to reveal his vice presidential candidate. this is going to happen at a major campaign stop on saturday. in the u.s. state of virginia a few hours from now. a little over eight hours from now. we are expecting that announcement to be made after weeks and weeks of speculation. wolf blitzer is with us in d.c. and john king is with us as well. wolf, what are the choices and the possibilities? the short [ no audio ] i am not hearing wolf. if you can hear me, start again. if we lost wolf, we will go to john. i think we lost wolf. we have been having a little problems with the connection there, but we will get it back. john king, if i can get you to pick up on that, we are resetting here and wanting to tell people that the announcement is just hours away. we don t know who it is, but remind us of the possibili
another down day on wall street today. the dow gave back 104, the s&p 500 dropped a dozen points. the nasdaq closed 27 behind. timtim geithner is deeply offended by accusation he s too close to wall street and mishandle the tarp bailout. the former inspector general of tarp makes that charge in a new book saying in an interview thing aizations are as a result of a myth. neil barofsky stood by the charges. a threat from the white house tonight. the average family will be pay at least $1,600 more in taxes next year if congress does not pass the president s increase on high earners. molly henneberg reports. the two parties are blaming each other. the top senate republican says democrats need to fish or cut bait on president obama push to ex extend some of the bush era tax cuts.
every successful business is a great big government. it is another way to say we need to raise taxes. he wants more taxes from the small business people. the ceo of the chamber of commerce said we should applaud the risk takers and dreamers who are willing to stand out from the crowd rather than denigrate what these people have done. we need to encourage people to start a business it is all part of the american dream. do they get a tarp bailout, absolutely not. gretchin: what you do would never have been possible without the government. if you rup a business do you agree with that? what you do would not have been possible without help from the government. eric: i have run several businesses and run pay rolls
expansion of the economy on apparently what was a faulty premise that ice cream was free, everybody was going have a house and everybody was going to have free everything. even president bush with the medicare expansion. we are getting a dose of reality. there is no free lunch. this is we were sold almost a ponzi scheme and somebody is having to take it rap for this. somebody has to tell the truth and bring reality home and unfortunately president obama is the guy who had to put the brakes on. ultimately come november it will be a choice between barack obama s future and mitt romney. megyn: your former boss president bush did expand government in a number of ways. the medicare expansion and the tarp bailout. but dick is saying president obama is rieght the ship and stopped the expansion.
nutti nutting. first, respond to your criticism that the president s spending simply reaches the wrong conclusion? well, people have quibbled with my numbers, but i still don t believe i got it wrong in a major way, because it does not change the story at all that spending accelerated before obama took office with the t.a.r.p. bailout and with the expansion of unemployment benefits and medicaid and all of the other things that happened when masses unemployment hits, but really since then, spending has been on a really flat trajectory. even though we have had the stimulus, and the auto bailouts and we ve had lots of unemployment benefits paid out, spending is really not growing at all since he took office. and rex, it seems like the big issue in the numbers piece for you is about fiscal year 2009 and whether or not we should give those spending numbers to president bush or