that s very challenging. so you talk about $650 billion spent in short-term stimulus spending. a lot of people out there would say that s reckless, irresponsible. it could never happen. but, explain how if that stimulus spending is coupled with a long-term debt plan, to take down the debt over a generation, how the markets not only would free up those $650 billion, but they couldn t write the check quickly enough for it? exactly. they would rejoice. the austerity folks are getting it wrong in the sense that they re imposing immediate deficit reduction and that s disastrous for economic growth. the pure stimulus folks, i think, are wrong because it s not going to happen. and because it would be better to do the combo policy together. and they don t want to talk about the long-term debt either. right. but you should not look, we should not worry, lose even a second of sleep over $650 billion in stimulus this year if
approach across the globe and frankly no country is doing it and it s what we should be doing here. peter, i wonder, in the that i actually a lot of people agree with that in principle. we have to do it. this is the difference between politics and policy. the biggest thing that the obama administration fears and the country should be afraid of is a meltdown in the euro zone over the course of the next few months. is there anything the united states can actively do to make that prospect less likely or are we effectively at the mercy of germany and the rest of the players in the eurozone? we can do a little bit of what you ve been seeing more which is just not the private diplomacy but frankly the public urging, but that s like second, third tier. fundamentally it s up to europe. i am quite worried that basically the problem will get away from people, that, you know, you ll have a 1:00 a.m. solution but the problem will have gotten away from you at midnight and if you have to
for the american people, is that we have been given the resources for us to execute the two wars we were asked to execute. and the american public has given us quite a bit and believed in us, so it s important for us to thank them for doing that. as you saw there, as we look ahead, there is concern about future cuts. now i would remind everybody that we ve already taken $489 billion of cuts over ten years. we ve agreed to do that. we re in the process of executing that. which we agreed to in the next budget cycle which we ve now proposed and submitted to congress. so that $500 billion would be on top of the $489 billion that we ve already taken. so that s the concern. you know, the first $489 billion was tough, we think we an do that, we think it s necessary, the second 500 becomes difficult. let s talk about as we look at the men and women in uniform, especially in the army, the army and marines have taken the brunt of this over the past decade, what impact does it have, one
follow that kind of stuff? i do. check on that. i thought you ll appreciate this, i thought the moment of the season was the revolver thing. revolver, where she takes out don s wife takes out revolver, the second i saw it, i m thinking this is the album that split the 60s down the middle. and split the beatles career. the moment when the turn came. you could argue about possibly being the best of all the beatles albums, but a huge moment in the 60s that moment when lsd suddenly creeps in, psychedelic creeps in. start the album with tax man and these cute songs but end it with tomorrow never knows and that s the song she tells don to play. it s, of course, the segway to their next album sergeant pepper and that s when the 60s are were split in half and don looks at it, takes it off. he s a sinatra guy. right. he s a product of world war
whether they agreed with the president s position. 38% are favorable. 54% unfavorable. these are of independents. obviously just absolutely terrible, the depressing numbers. what in the world will this president do? he is doomed.s show mitt romney. and show just how oh, wait a second. his numbers are just as bad or worse. arianna, the american people don t trust these two candidates to fix the economy. they don t, because basically obama s argument is that we re between a rock and a hard place and i m a slightly nicer rock and give me another four years to fix the problems that bush created, which no longer works as an argument. and romney has not come up with any innovative, bold ideas to fix the economy. right now, he s kind of wavering on austerity saying we can t cut so much because it s going to impact the economy so he s