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now, the "cnn newsroom" continues with randi kaye. >> have a great day. >> thank you. the treasury is sending out checks as promised, and somehow there is just as much fear and uncertainty and economic anxiety as ever. we will tackle the next three main questions. what is going on with the stock markets? the dow is on track for the ninth straight day of losses. any guesses on how long it has been since nine straight days of loss? 33 years. lots of scary numbers are behind these, and we'll get to those in a minute. question number two, who will make the cuts. the debt deal left a hard decision on taxes and spending and entitlements to a 12-member super committee yet to be appointed. thirdly, why did congress leave so much unfinished business? lawmakers went on their august break leaving thousands of faa workers on unpaid furlough. they are also leaving $1 billion in uncollected taxes on the table in a fight over $14 million. it's time to get some answers. don't you think? wall street is where we begin today. alison kosik is at the stock exchange. if the dow closes lower, we are in the for the 33 bleak out look that you just mentioned. we have several reports showing just how weak the economy is. consumer spending numbers are down. manufacturing is weak. economic growth is anemic. of course, who can forget the jobs market. i am hearing the r word being tossed around here, recession. and i will tell you, those whispers are picking up with one economists saying the thoughts about recessions is starting. you have a perfect storm of negative news. one thing everybody is waiting for is the official government jobs report coming out friday, along with gdp, the jobs report is one of the most important. the expectations are for a gain of roughly 80,000 jobs, and that's not even fuf for a meaningful recovery in the jobs market. >> you look at the numbers today, alison, and you wonder, if the whole debt and default deal mean nothing? the investors seem still spooked? >> you had investors focused on the debt ceiling debate going on, and then you had investors looking at the deal and saying, you know, it doesn't do much for the economy, doesn't move the economy forward and doesn't grow jobs, so wall street not particularly thrilled with the deal in itself, and then you have the focus on the broader economy, that has always been there, the weight on the economy, meaning the reports, one after another showing that the economy is really in trouble at this point, randy. >> alison kosik, as always, thank you. to get answers on the dispute that is costing the government $30 million a day, i want to bring in the man that knows the ways of washington and spent his career trying to change them. ron paul is a long-time gop congressman from texas whose 2008 run for president inspired a movement. you know it today as the tea party. paul is winding down his congressional career, but running once more for president. he joins me on the telephone from lake jackson, texas. i want to start with the debt deal and the big decisions you and your colleagues decided to put off. you write today balancing the federal budget is not as hard as most people think. what do you think is the secret? >> live within our means like people are supposed to do. the symantics are so bad because everybody is talking about cuts, and why didn't we cut this, and set up a super commission and cut more. no place have we discussed any cuts whatsoever. it's always cuts in the proposed increases. so this is a difficulty for a person like myself who actually wants to have cuts, but you can't have cuts unless you change the attitude about the people and what they want from their government. if they think we have to be the policeman of the world, and you can't challenge the entitlement system there's no way we can do this. default is only inevitable. the only argument about default is whether it's by not sendsing out the checks, or what we are doing today, everybody opted for just printing the money. the default is coming. we liquidate debt by printing money and having a devalued currency, and that's what gold is telling us today. we been the with the option of the printing press rather than coming to the fact that we are bankrupt. >> you believe a freeze in spending would be better than making the cuts at all? >> yes, i would have cuts, but since nobody is about to do that, freeze it, and give everybody what they got last year. seems like it would be an easy sell. and everybody is saying, they are going to slash all the entitlements. but they are not. they are just cutting what the proposed increases are. even if they talk about cutting the military, they get hysterical, but there are not cuts in the military, they are cuts in proposed increases. it takes about four or five years -- if we would had frozen the budget five years ago, itd would have been balanced right now. the other thing you could do if you are so brave is to actually cut something, and all you need to do is cut 1% of the budget and do it for five years and you would get to a balanced budget. >> what about the super committee? i take it you are not a fan. would you join the super committee and be part of it if asked? >> i am not going to be asked. i never thought that through. it's unconstitutional, and i would have my reservations. it's giving to a small number of people authority that congress should have. this is a trend we have been going through long time. we always deliver more authority to the executive branch in certain commissions and taking the responsibility away from the congress. i think the very dangerous. >> what are you concerned the super committee will fast track? >> i know they will never ask me and i doubt i would want to serve on something like that. >> just this tiny dispute that apparently has now 4,000 workers at the faa furloughed, and the federal government is not collecting more than $1 billion now in taxes from the faa. the administration thinks you and your colleagues should go back to work and figure it out. >> we heard a lot of great speech from members of congress about creating jobs, and they talk the talk, but they have not walked the walk. their speeches ring very hollow to 4,000 faa employees who are furlough furloughed. their speeches about jobs ring hollow to 70,000 construction workers who are not working right in the middle of the construction season on construction projects all over america. >> congressman, how is it that you now have 74,000 workers who are not collecting a paycheck and yet congress is on vacation? how did this happen? >> part of the process is the inability to admit that we're bankrupt and we have to cut. house did pass a bill recognizing the fact that some of the smaller airports are nothing more than boon dogles. tens of thousands being spent by planes going in. far from a market oriented program. the senate could have passed it, but it could have passed and it would have been more conservative and backed off of some of these programs that are not paying but just draining the economy. so it's not exactly the congress wouldn't do anything, it's the senate that hasn't done it. then again, anytime there's an attempt, everybody is screaming, cut back, cut back. and they find that there's real waste and we should not be spending in certain areas. i am sure the congress is inept. the special interests are part of the problem, too. even if paul ryan made an attempt to propose something, i did not vote for something because i did not think it was enough. he got really hit hard for this. oh, you can't do this. and the people whose programs are being cut, they come back in, and this will be very, very tough. this is a reason why i don't predict you will get this under control. it will continue. we will continue to print money and it's going to stop by economic law, which means the dollars won't work and that's what we should be concerned about, not some of these technical factors. >> i think the people furloughed right now are very concerned about this. you heard the administration saying congress should come back and figure it out, and you are running for president, would you want to bring congress back? >> for this, we could have accomplished it before if -- i think the pressure should have been put on the pressure to pass the bill. >> congressman ron paul, appreciate your time, and your insight into these issues. we always enjoy having you on the program. thank you very much. >> thank you very much. thousands of faa employees are the latest casualty of political bickering on capitol hill. we will talk with one directly in our studio just ahead. ...got even easier? affirmative. we'll show you other people's winning hotel bids. so i'll know how much to bid... ...and save up to 60% i'm in i know the lady in leather travels on three wheels. wait, is that code? that's my secret weapon... ...naomi pryce see winning hotel bids now at priceline. helps defends against occasional constipation, diarrhea, gas and bloating. with three strains of good bacteria to help balance your colon. you had me at "probiotic." [ female announcer ] phillips' colon health. personal pricing now on brakes. tell us what you want to pay. we do our best to make that work. deal! my money. my choice. my meineke. congress can talk about creating more jobs all they want but lawmakers are essentially holding thousands of jobs hostage when it comes to the federal aviation administration and wasting more than $1 billion of your tax dollars. think about it. earlier we talked about how congress let this happen and legislators are off on summer break, and meantime employees are in limbo on furlough for five weeks or longer. neil bowlen is one of them, an engineer with the faa and price president of the engineers union. i have to ask you, how are you and your colleagues doing? >> oh, we're horribly disappointed pm a lot of us are really struggling to find a way to pay the bills. we're signing up for unemployment. a little bit going down to cnn's human relations desk and seeing if i can find a job, because we are out of work for the next five or six weeks in hopes that the faa will bring us back onboard, because congress has failed to get the job done. >> how concerned are you about -- you mentioned your concern about paying the bills, and mortgage payments and i don't know how your family will deal with this. >> a lot of peanut butter and jelly. i have a friend i met at the unemployment office, one of the faa colleagues, she cannot make a house closing because she was buying a house and cannot go to the house and say, yeah, i have a job. two weeks from now she doesn't have a job when her house closes on the 19th. how will she do that? >> you heard the transportation secretary right here telling congress they should go back to work and get it done so the faa shutdown can be brought to an end. what do you think of that end? >> i am thankful for the secretary for trying to get it back on the job. i called my congressman a number of times and got the staffers. at first they did not know it was an issue. finally, they said, yeah, we passed that on to the senate. and the senate, they said, yeah, there is something, um, um, totally unaware that this was the problem, at least that was the impression i got. >> this is over minor differences. do you find that even more frustrating? >> it's incredibly frustrating. the whole concept that they are saying, oh, this railroad act of how to vote in unions, it's -- >> right, the sticking point comes down to language over the airline unionization rules. >> that doesn't pass the weasel test? >> why? >> because any nonvote is a no. your high school is making a new mascot, and do you keep the old one or get a new one. 26% votes yes, and less no, but 50% don't vote, and 26% seems to win, but, no, no, 76% wins. a number of the airline employees live in the district here in atlanta, and he's not looking out for his constituents. which are the airline employees. >> you look at the situation, and you have thousands of people out of work and important construction projects on hold, and very important projects and then you have congress on vacation, and they are still getting paid and collecting their paychecks and might be taking their families on summer vacation, and you just told me you might have to look for another job? >> i am having a great time on my vacation, without pay by the way, i am sitting at the grass watching the grass grow, so no i am not pleased with what they managed to accomplish. >> you believe they should have and could have gotten it done? >> they could have easily gotten it done. the debt ceiling argument ended on monday and tuesday. well, where are you at on wednesday? you don't have to go on vacation. take another day and get it finished, because you are sitting around arguing, and gnashing a great amount about losing a few billion here over 10 years. but you are losing 1.2 this month. how do you figure that, folks? >> neil, we will continue to watch your story. do let us know how you are doing. it could be a long five or six weeks for your family, i am sure. do check back had with us. >> thank you. a key u.s. ally forced out. details right after this. my num. ♪ students like me, who take these ap math and science classes and have these opportunities, this is where the american dream lies. when i write that book, you know, i plan to dedicate it to my school. ♪ those hopes and dreams that you have, you know, they're within reach. and i'm living proof. 20 minutes past the hour. attorney general eric holder announced that over 70 people in the u.s. have been charged in an online worldwide child pornography ring. of those charged 52 have been arrested. holdin said that many victims were 12 years old and under. >> the members allegedly traded graphic images and videos of adults with children. and then mubarak was wheeled into a cage on a hospital bed in the courtroom. he pleaded not guilty to all charges. he faces the death penalty if convicted. the trial was adjourned until august 15th. excessive heat warnings stretch from the southwest to the deep south today. the heat wave in the second month is responsible for turning landscape brown and deaths across the country. it was 99 at midnight, and today could be the day that shattered the all-time high of 113. we have to go much more with meteorologist, chad meyers, in just a few minutes. first, in new york, it's a nice change from having a pigeon on your windowsill. a peacock went awol from the central park zoo. it flew back home this morning. zoo officials did not say how the bird escaped or what type of enclosure it is now in. more bad news on the employment front. more than 66,000 job cuts were announced in july. up a whopping 60% from the previous month. poppy harlow joining me. corporations are making money, and why are they opting to down size? >> that's a great question. we're seeing record profits for a lot of the companies across the board. technology and banking and etc. the situation is there is a real demand in consumers spending, and we heard them say we don't know what the regulation means for us, whether it's health care reform or wall street reform. the companies are not only not hiring a lot, they are now announcing really drastic job cuts. let's take a look at john challen challenger. here is how he explains it. >> one picture is we're in a rocky recovery or just in one of those and companies are making layoffs rather than holding on to their people, and all of the government stimulus, both fiscal and monetary now is at risk and maybe there is not going to be enough consumer and business spending to keep this economy afloat. >> randy, we're seeing this play out across the board. we have the really interesting gallery on cnn money. job-killing companies today. let's start off with borders. they are liquidating and closing down. boders closing 399 remaining stores. that's over 10,000 job cuts coming soon. and goldman sachs cutting jobs, and cisco, a huge technology company saying they will layoff 6,500, or they will take early retinment. this goes across sectors and not just banking or retail. this spans the gamut. it comes at a time when the economy is in such a parrious position. we have a 1 in 3 chance of falling back into recession, randi. >> what about government workers? they could be affected, too, right, with the debt deal? >> yes, that's a great question. we have a debt deal and thought wall street would cheer it on and that did not happen. when you cut trillions of dollars in spending, you cut government jobs. the government last month bled a lot of jobs, especially on the state and city level, you will see a number of more job cuts ahead. if you do the math, there is no way to get around it. when you cut spending, you are cutting jobs. for all the government workers, you just talked to one who is furloughed. it's a big concern of what is going to happen to their job where they already have seen shedding, especially now where they do have the debt krael. that has not gotten attention, but it's a reality that we will see play out in the next couple years. where in the world is casey anthony? somebody may have found her. details next. mine was earned over the south pacific in 1943. vietnam, 1967. i got mine in iraq, 2003. u.s.a.a. auto insurance is often handed down from generation to generation, because it offers a superior level of protection and because u.s.a.a.'s commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto insurance quote. u.s.a.a. we know what it means to serve. ♪ it's tsunnyd!you bring out the sun ♪ ♪ it's the way you make it all fun ♪ know who makes the day sunny? 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