partisan show down between the obama white house and republican controlled house of representatives. the house oversite committee voted to hold the toerp general, eric holder, in contempt, accusing the nation's highest ranking law enforcement officer. the committee vote was hours after the democratic administration upped the ante. for months, a stare down between the congress and justice department. this morning, president obama invoked executive privilege, denying the committee the documents they demanded for months from the attorney general. it would be an unprecedented step for an attorney general to be found in contempt by the entire house. that vote is set for next week, and harsh statements from all sides tonight in washington don't suggest at the moment any opening for compromise. here is the chairman, darrell issa. >> there's still time for avoid tg, if in fact the documents we asked for are delivered by the time the house scheduled for contempt vote. >> democrats on the committee accuse chairman issa of not cooperating. kate baldwin is here. highly partisan, going on for months. the attorney general came out, said it is political games, the chairman says not. >> 23-17, that's the political breakdown, partisan breakdown on the committee. what was a bit surprising i would say from what we heard today was this marathon hearing where they were leading up to the contempt vote in the house oversite committee, it was how caustic and bitter the debate was amongst members in partisan times on capitol hill. the arguments did fall along similar lines, depending what party you were in. republicans charge that the attorney general as well as the president now are stonewalling their very legitimate investigation into this botched operation, fast and furious, and everyone on both sides of the aisle acknowledged it was a fatally flawed, fundamentally flawed operation. demoats, though, they say no matter how much information the department of justice would have handed over, the republicans were bent, wanting to move forward with the contempt vote, would never have been satisfied with any information provided to the committee, and that's really where things are left. the house, this house committee has voted. now it needs to move to the full house for a vote, and that we hear from republican leaders, that will be happening next week, if something doesn't change in the meantime. we will wait and see. i thought it was interesting, and you will, too, john, even in the attorney general's statement after the vote, he himself talks how political it was. election year tactic intended to distract attention. the gloves are off here. >> if you read the tone of that, he is off for a trip to europe, has a staff to negotiate. if you read the tone of that, listen to the republicans and statement from leadership saying this doesn't have to happen if you give us all of the documents, he says politics, they say oh, where do we go from here. >> they're at a stalemate. miracles can happen when they want them to. doesn't seem the desire or air of compromise among us. the options are, it becomes unclear after house votes. they have the majority, it is likely to go through, this contempt citation will go through. what happens after that is a little more unclear. one scenario is that this could be sent to u.s. attorney for district of columbia, but unlikely department of justice will enforce a contempt citation against one of their own, especially if it is in dispute. the house could move on their own to take civil action, but it has to be said now with this executive privilege being asserted, it does inoculate the president and attorney general from further prosecution, if a judge upholds an executive privilege is right in this case. so murky at best moving forward. >> a lot of legal ifs, ands, buts. let's go to david gergen. this is the attorney general, the highest law enforcement officer. a house committee says he is in contempt of congress. where do we go from here. how significant is this in. >> it has suddenly gotten more significant, john. we had a low level fight going on in washington, almost below the radar screen for most americans. both sides escalated dramatically tonight. the president exercising executive privilege the first time in his presidency, and the house committee voting contempt and sending it to the floor where it is likely to pass. john, in the past when we've had these kind of dustups, they've ordinarily been resolved by negotiations. clearly there are documents the administration is sitting on, don't want to share with the committee. the committee really wants to see them. i don't know if there's a smoking gun there or whatever, there must be something there that's sensitive from a white house perspective. but ordinarily in this kind of thing, negotiation would say why don't we have two or three selected people or four people go into a room, look at the documents in that room, and they can make judgment on what's there. then there are going to be certain limitations on what they can say about it and that sort of thing, something like that i think has to work out. but in this environment, it will be hard to get there. ought to do it before the contempt vote. john, for a lot of americans that don't understand the complexity and don't care about the complexity of this, it is one more illustration if we needed any more that washington is broken, and that has repercussions for economic confidence as we've learned when we went through the whole debacle over the debt ceiling. >> this has happened in the past. first time, david, president obama had an executive privilege clash with congress. president bush six times, clinton, 14 times, gorgeous hw bush once, reagan once. how do you go forward. they have been in this over a year, and for the first time, the administration says it is covered by executive privilege. how much does that late invitation complicate things? >> a lot. it leaves the implications with republicans that the reason they don't want to show these documents to the house is that there's something there that involves the white house, possibly the president himself that could be embarrassing or, you know, could raise questions about judgment and that sort of thing, and up until this time, we thought this was internal, these documents were internal to the justice department. when you invoke executive privilege, that raises the ante, because it makes it a big issue, becomes a constitutional clash, but it also says there may be more in here than you even thought. >> so if you agree the tone of statements, listen to tone of statements made to the microphones and cameras, especially the attorney general of the united states, you know him, served in clinton administration, served in politics a long time. over the past months each statement ratchets up the politics. after the vote, perhaps next week the full house would hold him in contempt, he says it is pure partisan politics, an election year stunt. words like that from the attorney general of the united states tell you what? >> he's been under pressure to resign from some in the republican party. he ain't going anywhere. he is a very smart fellow. they clearly blew this operation. made two mistakes, bum belled the effort on the ground, and initial responses to congress, had to retreat from a letter sent out early 2011, but having said all of that, you can respect eric holder for saying i'm not being railroaded on this, you're not coming in to run over me because you try to squeeze out things you want to embarrass us over. we have given you the basic facts, and we're not going to back down. but from the -- let's go back. this is again ultimately about this democracy work in washington today -- does democracy work in washington today. if people conclude those guys really cannot run the country, it is very discouraging and it has ripple effects well beyond the fast and furious case, it really has ripple effects about confidence and sort of government, confidence in the economy, and again, this is getting rapidly built into something that neither you or i, neither you nor i would have thought would have been likely a week ago. >> my expectation was they would broker a deal, cut a deal. >> exactly. >> for those of you that don't recall what fast and furious is, it was a gun running operation where justice department set up what was supposed to be a sting operation to watch trafficking of guns across the u.s. mexican border to drug cartels. instead, u.s. guns went to the cartels, one was found at the murder scene of a border patrol agent. that's why the investigation goes on. david, i want to come back to this point. this is the first time this president had this confrontation with congress, but we have seen increasingly oversite from house republicans, democratic white house, divided government in washington. a lot of people, if you look into commentary on twitter and social media, why is this happening, you say the dots could be connected to the dysfunction of town? >> absolutely. people, reasonable people should have figured a way to have information presented to the committee, also used to create a political circus, have to see what's there. we have seen such negotiations numerous times in the past. it can be worked out. but if you hate each other and want to put the knife in as the election approaches, this is one way to do it, and one way to get the country to say, you know, i don't like any of these guys. >> end it on that point. i think the country is already saying they don't like what's happening in this town, period. see how it plays out. thank you. moving on to an ominous report from federal reserve about the economic outlook for the rest of the year. this is election year. central bank says the economy is growing, but at a more anemic pace than projected two months ago. stock prices were mixed at the announcement. closed mixed at the announcement, which included that they were extending a stimulus program. fed stopped short of more aggressive action, even after lowering expectations for economic growth the rest of the year. this is the chief business correspondent, ali velshi. you heard what they said. weaker economy than two months ago. they say it will grow between 1.9 to 2.4. april, they thought 2.9. unemployment, thought it would fall below 8% sometime this year, now they say no, it will stay at least 8% through end of the year. why. >> the storm in europe, the outer bands are hitting the united states. by the time it hits, could be a little storm or hurricane. on top of that, china's economy is slowing down. this has very little to do with washington, has very little to do with what's going on in the united states. it is what we are feeling as a result of a global slow down. at this point the feds got very little ammunition left. it used some of what it had. didn't want to convey a sense of panic by throwing everything at the problem. it said we're going to make money cheaper for longer in hopes that people will borrow re t money, expand it, u to people, create demand, boost the economy. >> you say they don't have too many bullets left. fed chairman thinks he has some. let's listen. >> i wouldn't accept the proposition that the fed has no more ammunition. i do think our tools, while they're nonstandard, still can create more accommodating financial conditions, still provide support for the economy, can still help us return to more normal economic situation. >> what does he mean by nonstandard tools? >> the nonstandard tools are quantitative easing, which is printing more money, putting more into the economy, making it that much more available, or doing what it is doing now, making the ten-year bond very inexpensive to borrow against, and that as a result influences mortgage rates and things like that. john, do you ever remember mortgage rates being 4% or lower for 30 year fixed mortgage? here is the problem. we have done so much already. we all harp on the stimulus bill, $800 billion. the feds put in trillions of dollars into the economy. with all of that support, ultimately, this comes back from my financial and economic court into your political court. it is about how people feel and whether they think things are getting better. right now, americans simply don't. >> when you hear that from the fed chairman, unlikely to be optimistic. >> right. >> ali, thanks. let's get important perspective from fareed zakaria. if you listen to the president as the g-20 summit wrapped up, you could hear the frustration in his voice. he says the leaders get it, but he knows it could take months if not more for europe to get back on the path. listen as he tells the leaders it's not just your actions, there's more to it. >> even if they can't achieve all of it in one fell swoop, if people have a sense of where they're going, that can provide confidence and break the fever. >> the president says confidence to break the fever, but you heard the european leaders, a lot of them are in disagreement. does this president, the most powerful president in the world, have control over europe? >> no, it is a fascinating situation where europe has become rich and powerful and unified enough that the united states has very little control. this is one of the first major economic crises in which the united states is something of a bystander, but what obama was signaling, which is a very important signal is that there's a psychological dimension to this. what obama was trying to do was use the bully pulpit to get the europeans to understand this and change the psychology, but as you started by saying, it is not clear that many europeans are in the mood to listen to the president of the united states, any president of the united states. >> and if they don't listen, could european dysfunction cost barack obama his job say more than mitt romney? >> oh, absolutely. i think that this is -- this has the potential to seriously wreck the american economy, particularly if you got one of these spirals of no confidence and panic. in that situation, two things happen. first of all, the financial system could come unwound, and remember, european banks and american banks are intertwined. american banks have been preparing for this for a year, year and a half, so the damage will be limited, but it will be real, there will be damage. secondly, europe is our biggest market outside the united states. so we sell to europe. europe is the other rich bowl of the world. a collapse in europe will almost certainly send the united states into double dip recession. these are small probability events. of all the things on the global landscape that barack obama is looking at, it is absolutely clear, europe has the potential to sink the american economy and with it his prospects for re-election. >> fareed zakaria, as always, thank you. the defense rests without a word from jerry sandusky. take you inside the courtroom for closing arguments. what sent a jet careening wildly through the air. what a passenger calls four hours of hell. see life in the best light. 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(sfx: loud thud sound) what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance. welcome back. here is kate baldwin with the latestws. a going on today. other headlines today. key leadership change for the country holding europe in ecomic suspense. antonio samaras was sworn in as the new greek prime minister, coming in when many think they will ditch the euro and ignite a bigger crisis. four hours of hell. that's what one traveler called this jetblue flight from las vegas. reporting to wabc, the faa is questioning all passengers on the flight. pilots were forced to circle hours to burn fuel before making emergency landing. passengers say the plane careened wildly, causing some on board to throw up. listen as pilots radio to report double hydraulic failure. >> you said you have multiple what? >> yeah, we've got some hydraulic issues up here to deal with. >> jetblue 194, we're going to keep you in air space, how long for holding? >> at least maybe 30 minutes, plus we're heavy, we're going to have to burn a lot of gas as well, so it could be a lot longer than 30 minutes. >> scary stuff. other headlines we're watching. the last thing people looking for a job want to hear. the latest numbers are out. the number of job openings fell to 3.4 million in april, nearly 9% dip from march. you breakdown the numbers, means there are nearly four job applicants employed for each opening. economists say it is another sign the economic rekcould have re is slowing. and castro praised the art of yoga, saying it does things to the human body that defy imagination. part of a 35 word ode to the practice in his newspaper column called reflections from come rad fiddle. he stepped down due to unspecified illness. 35 words. he is taking to remedy. >> when you step down, going to write a newspaper column, mention yoga? >> i guess that's what people do with spare time on their hands. >> in cuba. >> see you in a bit. up next, a key republican senator, house committee votes to find the attorney general in contempt. this senator says he wants the answer to this question, what did the president know. and closing arguments for the jerry sandusky trial, the jury did not hear from the defendant. best math scores. ...the united states would be on that list. in 25th place. let's raise academic standards across the nation. let's get back to the head of the class. let's solve this. assure my patients get evthe very best care.ake but look at our health care system. everyone agreed we needed reforms -- but this new health care law -- it just isn't fixing things. president obama promised my patients that they could keep me -- but what if because of this new health care law -- i can't keep them? i've looked at this law. i know the consequences: delayed care and worse yet -- denied care. studies show the president's health care law is projected to add hundreds of billions of dollars to our deficit -- and increase spending by more than a trillion dollars. and the truth is -- we still don't know how much this law will eventually cost. i don't want anything to come between my patients and me -- especially washington bureaucrats. we need real reform that improves care, and the president's health care law just isn't it. it just isn't worth it. this is where health care decisions should be made. not in washington. but they can also hold you back. unless you ask, "what's next?" introducing the all-new rx f sport. this is the pursuit of perfection. and then treats day after day... well, shoot, that's like checking on your burgers after they're burnt! 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