trip to asia and keeping his eye on the weak job market at home. the president arriving in mumbai, india, stressing that boosting the u.s. economy is very high on his agenda. mr. obama promoting $10 billion in trade deals that the white house hopes will create 54,000 jobs and maybe just maybe put a dent in the unemployment rate. not everybody rolling out the welcome mat for him. protesters taking to the streets, chanting slogans and showing their anger at the u.s. white house correspondent wentle goler is traveling with the president and joining us live from mumbai. good to see you. what are the complaints about the president's visit? >> not everyone here is a fan of america's war on terrorism, but a lot of the complaints involve inconveniences, a lot of the personal information required of people attending events with the president, the huge traffic tie-ups caused by his motorcade, and a ban on fireworks around his hotel, a kind of five-day holiday that they celebrate with fireworks. the city sounds like a war zone, but the hotel where the president stayed was the scene of a terrorist attack in 2008 that left more than 160 people dead and the president said he very much chose it to show solidarity. >> we visit here to send a very clear message, that in our determination to give our people a future of security and prosperity, the united states and india stand united. >> it's an expensive message for security reasons. secret service required the white house delegation to rent the entire hotel. >> juliet: also major export deals were announced today. is that correct? >> the white house took the raps off more than 20 export deals with india worth $10 billion. the president says they'll support about 50,000 jobs. they include everything from boeing civilian and military aircraft to general electric diesel locomotives. the president also lifted some export restrictions determined to open up this 1.2 billion person market. >> for america, this is a job strategy. as we recover from this recession, we are determined to rebuild our economy on a new stronger foundation for growth. >> indian economy is growing at 8% a year. right now the u.s. actually does more business with the netherlands. >> juliet: wendell, thanks for that report. we appreciate it. >> rick: house speaker nancy pelosi making her next move despite colossal democratic losses in this past week's mid terms. she's now making a run to be her party's next minority leader, a decision that some democrats are questioning. but some republicans having a hard time hiding their excitement about the process. molly henneberg is following this live from washington for us. hi. >> hi. democratic aides say speaker pelosi would not throw her hat in the ring for house minority leader if she didn't have the votes to win. she sent a letter to the house democratic caucus explaining that she intends to run for the leader of their party, saying, quote, as a result of tuesday's election, the role of democrats in the 112th congress will change, but our commitment to serving the american people will not. we have no intention of allowing our great achievements to be rolled back. although democrats lost more than 60 seats in tuesday's mid terms in the house, liberal democrats are cheering her decision. california congresswoman lee says pelosi is the best person to lead democrats, quote, through this very challenging period. and congresswoman from california says democrats need pelosi, quote, now more than ever. but with the number of blue dog democrats cut in half after the election, some centrists want to change at the top. congressman donnelly says he's, quote, disappointed that pelosi will run again. congressman kissel is hoping the speaker will change her mind and not run. boren and mike ross have said they oppose her continuing to lead the party. meanwhile, republicans say they welcome pelosi as house minority leader. a spokesman for the national republican congressional committee says, quote, if house democrats are willing to sacrifice more of their members in 2012 for the glory of nancy pelosi, we are happy to oblige them. and the republican national committee has hung a sign from one of its windows saying, quote, hire pelosi. rick. >> rick: molly henneberg in washington. thanks so much. >> juliet: i feel like i want to talk about this a little bit more. >> rick: all right. >> juliet: i think i will. i'll bring in angela joining us, a political analyst with fox news and we have fox news contributor doug showdown, co-author of "mad as hell, how the tea party movement is fundamentally remaking our two party system." great to see you guys. doug, considering the beating she took during these last few months, and you know what i'm talking about, are you surprised she intends to keep her leadership role intact? >> i am surprised. i'm a moderate democrat. i worked for bill clinton, i'm disappointed like all democrats with the size and scope of the defeat. but that being said, when you lose like nancy pelosi lost and you lose because of the programmatic repudiation of your agenda, you have to consider a change. i think this is going to hurt the democrats and i think they would have been better served with either keith schueler from north carolina or hoyer replacing nancy pelosi. that's straight shooting from a democrat. >> juliet: angela, i hear you doing uh-huh in the background. but you're clapping about this move. you think this is a great thing for the republicans, don't you? >> well, i'm very excited because doug, as obama said, nancy pelosi has been one of the greatest speakers and she did push her achievements through. but there is no question that election night, with the republicans' win, was a referendum on all of nancy pelosi's liberal agendas. but juliet, i was agreeing with the fact that steny hour would have been better to cut deals with the tea party candidates and the republican majority, to help create a better america. with nancy pelosi being in the minority leader, we're going to have gridlock in congress, but that's better for republicans, i believe, in 2012. >> juliet: doug, there is support for her, but you heard in molly henneberg's report, she named some who aren't supporting her. does this signal that the beating the democrats took isn't in their eyes, her fault overall? >> it's hard to say. i think for the blue dog democrats, they understand that the agenda of nancy pelosi and the obama administration particularly feels like health care and some aspect of the stimulus were, in fact, responsible and she should, in fact, be held accountable. other democrats believe it was a communications problem, that the white house and -- said he didn't have time to sell the agenda. and on that basis, they've apparently given her the green light to go forward. >> doug, they sold the agenda. they sold it very well and they didn't listen to the american people and it seems to me that nancy pelosi and barbara lee, god bless her being over the congressional black caucus and ashu, it seems like they're out of touch with the american people. they don't want obama's's agenda. that's why i believe highway would be better -- hoyer would be better to work in and i believe the republicans will take over in 2012. >> juliet: what do you think about steny hoyer, if you compare him to nancy pelosi, as far as maybe trying to get some deals made and sort of crossing party lines and trying to make some moves, he would be the better choice. >> i agree with that. i think steny hoyer in this environment where people want cooperation is better to cooperate and move the party back towards the center, try tophic the health care bill in ways that would be more palatable to the american people and try to stimulate private sector job creation in a way that would reflect the values of the american people and come up with a compromise on taxes. that needs to be done and i think hoyer would do it better than nancy pelosi. >> juliet: last word, angela. >> i believe nancy pelosi is going to be the minority leader. i think that democrats will step in line. she is going to have maybe one or two challenges, but i believe that she will be victorious and what's so bad now, the country is still going to be in gridlock and we're not going to get great policies through. >> juliet: on that happy note, we'll wrap it up. great seeing you. >> thanks. >> rick: conservative groups are starting to put pressure on the presumetive speaker of the house, john boehner. they're calling on the ohio congressman to slash the salaries of house lawmakers. organizations like the national taxpayers union say the move would be a powerful symbol of a new tone in washington. boehner himself is set to receive a salary of over $200,000 if he assumes the speaker's job next year. >> juliet: now to the head rot senate race in alaska. senator lisa murkowski leading republican joe miller by 7%. that translates into a lead of about 13,000 votes over miller, but miller may not be ready to give up that fight. both candidates are expected to tussle over the legitimacy of murkowski's write in ballots. miller may have to find a way to invalidate a big portion of the write in ballots to have any chance of winning. >> rick: switching gears for a minute, a sigh of relief in haiti. the country still recovering from the massive earthquake earlier this year. escaping a fresh disaster, threatened by tomas, the hurricane now downgraded to a tropical storm. not before flooding coastal towns and some tent camps for those still homeless after the earthquake. tomas killed six people, but the storm mostly spared the camps from a heavier blow. where is this form headed now? -- storm headed now? maria molina here now. >> the storm did pass right through the west of haiti, through the winward passage, produced flooding. specifically around one area where most of the town is currently underwater. so very unfortunate situation. currently the center of the storm has tracked northward and already north of the bahamas, still producing some moisture and some thunderstorms across eastern portions of the dominican republic, also puerto rico and even as we head eastward, through the virgin islands and this is entire area will continue to see several inches of rainfall as we head through monday as that storm will slow down. even though it's exited the region, we still have this band of very heavy rainfall generally three to six inches of rain in these islands and also locally, some spots could be looking at up to a foot of rain. still a threat for flash flooding out there as we head eastward. the worst out of haiti. in the next couple of days, we'll continue to see the storm weakening as it moves eastward. >> maria molina, thank you. >> juliet: a connecticut jury now considering life in prison or the death penalty for a convicted murderer, steven hayes. he was found guilty of raping, murdering jennifer pettitte, killing her two daughter, setting their house on fire. laura ingle is live on this terrible story. she's been watching this trial throughout. laura? >> hi. there is no verdict today, only more questions from jurors that revolve around the mental capacity of steven hayes at the time of the home invasion back in 2007. jurors and family members will be returning to the courtroom tomorrow for a rare weekend deliberation session which has left the lone survivor of the attack, dr. william pettitte and his family without a resolution in this phase. i talked with mr. pettitte after court today. >> we're going to wait until the verdict is in. the church is in cheshire to ring the bell at 7:00 p.m. tonight? >> why tonight? >> tonight is the lights of hope. there is 55,000 human natures that will be lighted. >> he's referring to the cheshire lights of hope, a fund-raiser that asks residents to light lights for local charities. one of which is for the pettitte family foundation. family members are planning to attend tonight. jennifer hawk's sister talked to us after court and says she hopes tonight they will be surrounded by positive and hope and they'll return here tomorrow. juliet. >> juliet: laura, what a horrible story. thanks for that report. >> rick: new twists on an old crime. coming on the heels of a surge in foreclosures. some crooks making a profession out of squatting. now even prospective home buyers need to be aware of dirty tricks. peter doocy is here. >> in the third quarter of 2010, one in every 139 housing units in the u.s. received a foreclosure notice and since almost all those homes have people in them, there is a lot of very tough stories coming out right now and not just about the people losing their residentses. chris and thelma bought this house in swanky connecticut at a foreclosure auction and they thought it was a good deal until they showed up ready to start moving their things in because when they did, they realized there was still a family living inside. we spoke to the frustrated couple while they were still locked out. >> essentially we're paying taxes, insurance and our first month's mortgage payment for someone else to live there. >> they eventually got in with the help of a state marshall who showed up with a court order and when he did, the outgoing family was less than accommodating. >> we encountered the man of the house, if you would, and they had a vicious german shepherd which managed to corral, lock up in a bathroom, and he was highly intoxicated at 9:00 o'clock. oh, yeah and he had a gun. >> yikes. thelma and chris showed me the house the day after they finally had the keys and it was full of garbage and dog hair and furniture and even sentimental stuff like photos and yearbooks. they bought their last two homes at foreclosure auctions and they say not only do they not want to ever do that again, but they also don't even really want to live in this house anymore. thelma said she thinks the home had bad karma because of all the turmoil, but there are some groups like the national coalition for the homeless who urge americans to go easy on squatters because they say they're not all dead beats and, in fact, many of them are in need. rick. >> rick: peter doocy, tough story. thanks so much. >> juliet: a closer look where your tax money is going. a new report showing the money going out and the money coming in. it's all enough to keep the debt clock spinning and spinning and spinning. >> juliet: welcome back. let's look at today's headlines. potentially dangerous hydrogen gas leak forcing nasa to scrap the launch of the space shuttle discovery. it's scheduled to take off for its final mission at the end of the month. damaged coral reef several miles from bp's blown out well suggests the oil spill inflicted damage on the gulf of mexico than previously thought. scientists say they need to do more testing on the coral reefs. last august, the government said the damage was limited. pope benedict criticizing an aggressive antichurch sentiment in spain, about 100 people demonstrating against the pope's visit. >> rick: pretty surprising numbers on the u.s. economy. this year alone, the government will spend $1.6 trillion more than it takes in in tax revenue. if these trends continue within the next ten years, it's going to get a lot worse. sam barr is joining us, the editor of the harvard political review, payton miller is here. couple of harvard men in our studios. i'll try to behave myself. payton, first of all, what is the annual report of the united states of america? >> the annual report is an analysis of the federal budget from -- much like a corporation would report to its shareholders. we look at the amount of money coming in, the amount of money coming out, where the tax dollars go and how those trends will continue the next few years. >> rick: so we mentioned the number at the top here, $1.6 trillion. we're spending that more than we're bringing in. that is like 40% more, isn't it? >> right. 1.67 for every dollar we take in. so as a college student, i'm thinking, what would happen if i spent 1.67 for every dollar that my parents gave me? i'm just thinking, well, probably that would not be very good. that would not go over very well. >> rick: so your report sort of lays it out and tells us where the money is going. for each tax dollar that we give to the federal government, we can see in this report, and i would recommend people check it out, exactly how it's spent. let me ask you about this, payton, because the soon to be speaker of the house, john boehner has said one of his first priorities once he becomes speaker is to do away with earmark, these hidden spending bills that make their way into a lot of these bigger pieces of legislation. doing away with that is not going to solve the problem. >> it's not really a long-term budget strategy. we looked at earmarks and foreign aid, which are kind of get the most controversy from politicians and the media. what we found was that if you actually add those two together, it's only 2% of the total budget. it's not changing that much from year to year. the long-term big -- biggest long-term cost drivers are social security and medicare. we think that and military spending need to be the focal point of long-term budgets. >> rick: let me ask you, sam, because another thing we're hearing a lot of talk about these days are taxes. the bush era tax cuts are set to expire and there is some talk of perhaps a compromise between the president and the new house republicans congress run by the republicans when it comes to cutting taxes. what does cutting taxes and keeping those bush tax cuts in place across the board what, would that do for us? >> in all honesty, that would not be so great for the long-term debt situation. in fact, according to one estimate, it would add $4 trillion to the debt over the next ten years, which is four times what health care and the stimulus combined added to the debt. but at the same time, raising taxes at this point in time would have a counter stimula tri effect on the economy, so there is that to consider. i expect what we might see is some sort of compromise between long-term debt relief and short-term stimulus. >> rick: how old are you guys? >> 21. >> rick: you can tell. they go to harvard. they don't talk like most people i hang out with. guys, let me ask you this, because you mentioned the big entitlement programs. this is really -- this gets to the heart of the matter. social security and medicare. we're all paying into it. you guys probably are not just yet. but you will be. trust me. and you're going to want to have it when you get to be of that age. but the way things are going, we're going to have real problems and you focus in your report on this, payton. what is the answer? because i don't really hear too many politicians who are brave enough to talk about this and make it as a serious problem as it is. >> on health care, the main thing that we need to do is first of all, if we're going to have, assuming the health care reform law that passed remains permanent, what we need to -- congress needs to make sure it has the discipline to keep the medicare cuts and taxes in place to pay for that, assuming they keep all the benefits. the other thing is they need to make sure they take steps necessary to bring down what's called bending the health care cost curve, bringing down long-term cost. the success of that depends on a lot of the pilot programs in the law itself, things like preventive care, investment information technology, malpractice reform, and congress needs to find, first of all, it depends on whether or not those things work and depends on congress recognizing which ones work and implementing them in full force. >> rick: you're a group that people that worked on this report, you've got some people who are republicans, you've got young people who are democrats and you've all come together. this isn't along party lines here? >> payton hims