2012-10-15
2012-10-23
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. and with the u.s. economy forecasted to grow by about 3% in 2013 and 2014, romney's plan, as attractive as it sounds, is in doubt. kevin hasset is an economic adviser for the mitt romney campaign and author of some of the economic plans. kevin, romney plans seem to assume that simple act of lowering taxes will generate enough growth to raise the revenue to pay for the steep cost of those cuts. but a lot of economists agree with that notion. it's a classic chicken and egg scenario. i talked to larry summers a couple days ago. he can't get the math to work either. >> it's easy to have an attractive tax plan if your campaign staff can make it up. the reality is that every expert who's looked at it found that cutting taxes by 20% costs $5 trillion. >> okay. let's get down to this. we understand there will be certain revenues that will come in. there will be certain revenues lost. you kept people keep some of their money. the issue is how much more growth to you get from that? the issue is how much better is the economy because you have given everybody a discount on the taxes that they pay?

% in 2013 and 2014, romney's plan, as attractive as it sounds, is in doubt. kevin hasseth is an economic adviser. kevin, romney's plan seems to assume that the simple act of lowering taxes will generate enough growth to raise the revenue to pay for the steep cost of those cuts. a lot of economists disagree with that notion, the classic chicken and egg scenario. i spoke with secretary larry m sumners a few weeks ago and he can't get it to work, either. >> the reality is that every expert that's looked at it has found that cutting taxes by 20% costs $5 trillion. >> let's just get down to this. we understand this there will be certain revenues that will come in, there will be certain revenues lost and there is a certain amount of growth that will come from the fact that you let people keep more of their money. the issue is how much more growth you get from that. am i right? the issue is how much better is the economy because you have given everybody a discount on the taxes that they pay. that's what we're trying to get to. we would be able to do the math better if we knew exactly what tha

. >> schieffer: what mitt romney is telling people is the president is not telling people what he plans to do during his second term. >> mitt romney ought to come on the trail with us and come to some of the rallies and listen to what the president is the saying. i think millions of americans heard it on convention night. he wants to build-- continue rebuilding this economy as i said in a way that's meant to last, build on the progress we've made. invest in manufacturing and small businesses by closing those loopholes that send jobs overseas and bring jobs back home, invest in education so we have a skilled workforce. there are job all over this country that can't be filled because we don't have enough high-skilled workers. new math and science teachers, investing in community colleges to train new workers, cut our dependence on foreign oil in half and we're wol our way to do that. cut our deficits. there's a detailed deficit reduction plan on the table that the president put forth. and finally, end the war in afghanistan and use those savings to rebuild america back after a decade of war it'

, they don't agree on much. let's look at the romney plan first. if this were to represent everything he wants to spend money on web knows he's not going to get it because he has a deficit. how is he going to deal with that deficit? he says he's going to do it with tax cuts. tax cuts initially are going to make the deficit worse. so he needs to off set them. he says he's going to do that by looking at deductiones and loophol loopholes. says he won't go after things like the mortgage detection or the health care deduction, things that middle class people rely on. economists say if you grab up all the other detections that you might put on wealthier people and you put them all back into this pile, it's not going to be enough. you're going to end up eventually having to tax the middle class or watching the deficit just get bigger. at least based on the plan as they know it rye now. barack obama, he has a different version of the same song. he has all the things he wants to pay for. he also will not have all the money he needs for it. he's going to have a deficit, too. he says you can deal w

:00. >>> governor romney's plan to lower taxes is getting a lot of scrutiny by the obama campaign. here is a look at some of the numbers. >> reporter: romney's plans start by lowering tax rates 20% for everyone. it's a major tax cut that the non-partisan tax policy center said that they will cost the federal budget $480 billion a year. roughly $5 trillion over ten years. but romney and running mate paul ryan say they will offset those costs by reducing tax reductions. they won't say which ones. that's to be worked out with congress. but they promise that they will only target the rich. >> deny those loopholes to higher income taxpayers so that more of their income is taxed, which has a broader base of the taxation. >> am i rambling? >> reporter: in theory there is plenty of money to be found in tax deductions. $1.1 trillion a year, but the most valuable deductions, they don't just benefit the rich. the tax-free benefits that workers received when they pay for health insurance, the tax deduction for mortgage interest and the tax-free payments that workers use to their 401k program. all used by mid

and disavow any proposal or plan he had over the last six to eight or 12 months. had the romney showed up two weeks ago in that debate showed up six to eight months ago president obama would be in serious trouble. president obama has to draw a very bright line. he needs to take a position, and he needing to a little bit further. it can't be that we agree on social security. >> eliot: the first debate was we agree we're not all that different. that's the wrong argument. campaigns are about differences but i think the president is paying the price for four years for failing to explain to the public why we needed a stimulus. why we needed a healthcare bill. without that foundation under girds why he was doing what he was doing the public was quick to lapse back to the appealing rhetoric of what was reagan's argument, george bush's argument and like a genie good economic times emerged from the bottle even though it's not true. >> the president is making the more difficult. he is saying i'm only halfway done. give me another four years and we'll figure it out. whereas if you're fighting the incumb

is not going to fly. >> eliot: the first argument against the romney-ryan plan is you can't--the arithmetic does not close up. you cannot close up loopholes to do it. but chuck schumer said, that's the wrong way to do. one step beyond the simple it doesn't work argument. >> he says we need to raise revenue. it's not that we can make this revenue neutral and this ol' reaganomics-- >> eliot: i have to come back, the gender gap totally closed, does that make sense? if it's true does that create an opening for the president because ultimately it won't reemerge. >> where the president has been ahead in each of these swing states he has always had a double digit gender gap which has been crucial to him winning these states. we didn't hear him talk about the issues in the first debate. in the second debate, in the vice presidential debate it was focused around the topic of abortion as it relates to their sense of religion. i feel as the president talks more about gender issues and defunding planned parenthood and eliminating campaign spokesperson session to reproductive health and breast cancer se

of the economy. do the numbers in the romney tax planned a up? we'll check them out. look out below. i sky diver becomes the first to break the sound barrier. while a shuttle rolls to a stop on its final journey to california when the "cbs evening news" continues. a i took dayquil, but i still have a runny nose. [ male announcer ] dayquil doesn't treat that. huh? [ male announcer ] alka-seltzer plus rushes relief to all your worst cold symptoms, plus it relieves your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] you're welcome. can you start the day the way you want? can orencia help? could your "i want" become "i can"? talk to your doctor. orencia reduces many ra symptoms like pain, morning stiffness and progression of joint damage. it's helped new ra patients and those not helped enough by other treatments. do not take orencia with another biologic medicine for ra due to an increased risk of serious infection. serious side effects can occur including fatal infections. cases of lymphoma and lung cancer have been reported. tell your

on message about what the republican plan is concerning these issues. >> and i think that more that romney continues to talk about how the failed economics of obama are hurting women and his plan to help women and families, he will continue to surge and win. >> both candidates have t recogni tha votes are important. the women vote was exponential in 2008. it comes down to knowing that women's votes are important and should be counted. >> and this year, we have seen attention on the women's vote like we have never seen before. how is it though that women who are seven to 15 points for obama, what, a month ago or a month and a half ago are one point for obama in the swing states? what happened? >> tha firt debate, governor romney got to present his argument. he got to talk about his economic plan. didn't make sense for these women. >> why aren't the women looking at the issues -- instead of watching the debate -- >> but wait a second. this is not 2008 when there are complaints that it's the same guy running on one ticket. these guys are polar opposites. >> i'm going to say because it's about

, indeed, plan to hold moderate mitt accountable for the positions governor romney took for the last year. before leaving for new york this morning, he seemed relaxed. >> how are you feeling about tonight? >> i feel fabulous. look at this beautiful day. >> what are you going to say? >> gorgeous. hope you enjoy the day. >> are you aware michelle voted for you yesterday? >> thank goodness. >> for governor romney, the question is, can the candidate, known for being out of touch, connect with people in the town hall setting? how will he handle a tougher president obama? they are big challenges for both. the tension is high. the stakes are even higher. joining us from hofstra university, the site of tonight's debate, is howard dean, former governor of vermont and former chairman of the democratic national committee. thanks for your time tonight, governor. >> thanks. nice to be here. this loud place tonight. they're ready for them. >> let me ask you, governor, you and i have been in debates together in 2004. president obama said he was too polite in the last debate. what are we going to see fro

plan and not raise taxes. how he'll get this done, glenn hubbard who helped write the romney plan, is here. new york times is called the romney go-to economist. some worry the romney plan looks very familiar. glenn hubbard joins me on a first on cnbc interview to talk about that and a lot more. good to have you on the program. >> thanks. pleasure. >> let's talk about romney's economic plans and the promise he can lead a situation to create 12 million jobs in four years. you say it's possible. >> well, it's certainly possible. the country's done it many, many times in recoveries. we're just not doing it in this one. to have a pace of 250,000 jobs a month on average is easily possible f we had a different policy mix that reduced policy uncertainty, got the budget house in order and did tax reform. we've done this many times in the country. >> okay. so in terms of specifics, in terms of projects that you think romney will okay, and that would get jobs going, does it include energy? talk to us about sort of specifics because lots of people want specifics in terms of how he's going to

. >>> the president accuses romney of not being up front when it cops to his tax plan. it's another topic he'll likely address tonight. does romney's plan to cut taxes and the national debt hold water? wyatt andrews takes a look. >> reporter: the president's basic claim is that mitt romney's tax numbers do not add up, that romney's promise to lower tax rates for all families can't be paid for without cutting popular tax deductions for middle class families. last week, the vice president was specific. >> the only way you can find $5 trillion in loopholes is cut the mortgage deduction for middle class people. >> reporter: romney argues that lower rates will stimulate the economy and he is emphatic the middle class will not pay. >> i will not under any circumstances raise taxes on middle income families. >> reporter: romney's plan starts lowering tax rates 20% for everyone, a major tax cut that the nonpartisan tax policy center says will cost the federal budget $480 billion a year, roughly $5 trillion over ten years. but romney and his running mate paul ryan say they will offset those costs by reducing t

. >> the reason why i think mitt romney won this debate is because americans again, saw a leader with a plan to grow the economy and create jobs. >> i feel confident about my boss, i feel confident about my guy. >> eliot: for more on the debate and the presidential campaign i'm joined by frank bruni with "the new york times." sum it up, give us your take away with this battle that range raged for 90 minutes. >> it was hugely an important night for president obama. after his miserable performance in denver. his supporters and independent voters needed to see that spark and fight from him. i think that's why you see in these polls voters saying he won the debate. i don't think it's clear that him winning the debate means that he widened his lead or gained ground over all. often who wins the debate and what people voters have to say have to do with expectations going in. >> eliot: in the first debate that mirrored it, but it may not reset the campaign the same way the first debate hurt him. >> there were interesting numbers on cnn. they asked voters who won the debate. i think obama had the adv

scenarios like mitt romney suggesting he doesn't have a $5 trillion tax plan or suggesting he's got a health care plan that covers pre-existing conditions. all of which we know, and knew that weren't true. and look, if all we did was try to keep mitt romney from walking away from his positions and keeping him honest tonight, it would be a full-time job, but it's part of what the president will do. >> i want to talk to you as someone who used to work in the white house, as you did. there's no one i know who has worked with the president in the white house thinks that presidential debates reveal presidential skills. presidential debates reward memorization, which is utterly meaningless in the presidency. it rewards your ability to make a statement without consulting anyone else. presidents are never without their staff and cabinet secretaries and others to consult on these things. how would you suggest people watch this debate, given the incredible artificiality of it and its performance irrelevance to the actual job of the presidency? >> i think the best thing to look at is the core values be

, romney's plan to cap deductions at 25,000 would yield $1.3 trillion. now, that's nowhere near the $5 trillion romney needs for his plan. now, despite this, the romney team calls the study misleading and deceitful. but the numbers are the numbers. there's nothing misleading or deceitful about the numbers. if his plan only comes to 1.5 trillion. then clearly he's way off 3.5 trillion to be exact from $5 trillion, jared. >> unfortunately, your math will never get you a job with the romney campaign but you're absolutely right. 1.3 is less than 5. so that's correct and the thing that is bothering me about all of this, besides the assembly around the numbers, they are lunching so much. clearly these folks never sat down and thought about whether their plan added up. so they throw out a number. by the way, it was 17,000 in terms of capping deductions and then it went to 25 and all of that's -- again, it's a symbol of a group that has no clue how to make this math add up and you can't make it add up. there are not enough offsets to pay for the $5 trillion cut full stop. >> dana, what's the p

, the "washington post" today gave four pinocchio's to mitt romney's jobs plan. and i'm sure the president or candy crowley will say mr. romney what about the fact that your 12 million job claim has been ruled to be a complete lie? >> eliot: it is only the follow up question that actually pierces the talking point. until you can be confronted it is like cross examination. you have to force either candidate to say, wait a minute the numbers simply don't add up. and candy can do that. >> john: a few weeks ago david gregory caught a world of grief, but if you looked on twitter it was completely decided. >> jennifer: he must have done a good job then. >> john: so me it says he did a good job if he alienated both sides that much. >> eliot: does the president utter the phase 47%? >> jennifer: absolutely. >> eliot: how does he use it to characterize an entire world view that mitt romney unfortunately has embodied. >> jennifer: i think he characterizes it by showing that this is what the man says behind closed doors. therefore, that's the real mitt romney. what he is saying to y

romney's plan. economic greed. bane kmin capital is a 51% owne sensata. mitt romney owns $8 million worth of those shares. mitt romney is lining his pockets with millions while swrob jobs are shipped overseas because there are people willing to work for less than $1 an hour. hold it right there. id like to know if these people work for $1 an hour, mr. romney, would you suggest keeping the plant here in free port, illinois? as ted kennedy said on the floor in 2007, when does the greed stop, mr. romney? when does it stop? what do you want from these workers? how much more do you want to give to the wealthiest americans? well, you know what? romney, he won't even look at these people in freeport, illinois, in the eye. he won't do it. his every town counts bus tour refused to stop here in freeport, even though romney was just a few miles away. i guess we shouldn't expect, you know, more from a guy who thinks half the country doesn't take responsibility for itself. this is all part, my friends, of mitt romney's plan for america. he told us so when he helped create bain. >> bain capital is an i

, and it was. president obama said the governor's tax plan is a sketchy and deal. governor romney told the president, do not talk over me. if you're one of those it was concerned the president was not calling out tall tales, from his perspective, and he said that governor romney was not telling the truth. five different times. if he wanted more aggressive, tonight you got it. they delivered. before the debate opened -- before the debate ended, the obama campaign rushed in here. the president did call it terrorism and that rose garden address. reporters immediately went to the transcript looking for all of that. the president did say that no active terrorism will intimidate the u.s., but he did not call the act and act of terrorism. the obama campaign is saying this is the candidate of the voters elected in 2008 and his back tonight. >> i been looking at the twitter responses from across the political universe. it looks like if you are an r, like what your guy did. if you are a d, you like what your guy did. >> this debate did not move the needle very much. it showed a liberal democrats

debate was intense, just wait. a romney insider now saying they don't plan to hold their nominee back in round three. this after round two prompted one of romney's sons to say yesterday in a radio interview that he wanted to, quote, take a swing at america's commander in chief. all right. joining me now is new york democratic congresswoman carolyn maloney. you made headlines this year at a conference about birth control. let's replay that moment. >> what i want to know is, where are the women? when i look at this panel, i don't see one single woman representing the tens of millions of women across the country. >> now, turning back to romney's comments about binders full of women, "the washington post" headline calling it the new big bird. when you look at that, how do you answer those who say this is a campaign distraction? >> i don't think it's a campaign distraction at all. i think that there are many contrasts in this race, but a very big contrast is the differences between president obama and governor romney on women's issues. they are literally oceans apart. >> those who call it

about this already. >>> just ahead, mitt romney claims his tax plan will cut rates without ballooning the deficit. a bipartisan study found out that the math doesn't work? we'll take a look at that. 0ñ@ñfÑ >>> ahead of tomorrow's big presidential debate we are looking at mitt romney's tax plan and claims that it will cut rates without ballooning the deficit. it was a major subject on the sunday shows where romney advisers continued to defend it and no doubt it will be a topic tomorrow night. a bipartisan study found the math doesn't work, and other studies that the romney campaign counters with doesn't mesh shower up measure up as well. >> six different studies have said this is very questionable. some of them are blogs, some from the aei, an independent group. >> these are very credible sources. >> one of them is from a guy who is a blog from a guy who was a top advisor to george w. bush. these are hardly nonpartisan studies. >> that was top romney advisor ed gillespie. more on that in a moment, first, i want to begin at the beginning. with what romney has been promising. >> unde

:00. >>> meantime, mitt romney says he's got a plan to lower taxes without exploding the deficit. the obama campaign says his math just doesn't add up. here's a look at the numbers. romney's plan starts by lowering tax rates 20% for everyone. it's a major tax cut the nonpartisan tax painful center says will cost the federal budget $480 billion a year, roughly $5 trillion over ten years. romney and running mate paul ryan say they will offset those costs by reducing tax deductions. they won't say which ones ch that's to be worked out with congress. but they promise, they will only tar get the rich. >> deny those loopholes to higher-income tax players. >> translation? >> so we can lower tax rates across the board. >> reporter: in theory, there is plenty of money to be found in tax deductions, $1.1 trillion a year. but the most valuable deductions don't just benefit the rich. the tax deduction for mortgage interest and the tax-free contributions workers make to 401(k) pensions are all heavily used by both rich and middle class families and are all politically popular. >> the details matter. >> reporter:

's and mitt romney's plans for america. romney is showing strength in the polls but is there enough momentum to close the gap in key swing states? what both candidates say to solidify women voters. former chief of staff, rahm emanuel and marco rubio took their best shots on abc's "this week" with george stephanopolous. >> after a decade of war both in afghanistan and iraq, most important thing we have to do now is bring american troops home and battle for america's future economically and strengthen america at home. that is the most important to be made. >> what about tax code and regulations. what are we going to do about obamacare impact on companies and people that are losing their coverage and small businesses that are moving to part time status to avoid the impact the healthcare law will have on them. >> will is 16 days left. with so much riding on such a close presidential race, keep it here on abc7 news for complete election coverage. >> in state politics, governor jerry brown is making an urgent push for one measure. he is doing so as he visits churches on both sides of the bay. arou

growth under romney. although, of course, we don't know exactly romney's plan but i think what he has in mind is a big tax cut, reagan/bush like, hopefully improving the tax system. i don't know if he could really believe that that would balance the budget or be neutral right away. but i think he believes he can much improve growth and over the long run things would balance out. and president obama says that we're well into this housing is picking up, and things are gradually healing. if you're patient, things will be a lot better under me too. >> what about the fiscal cliff. we're obviously going off the fiscal cliff at the end of the year when the tax cuts expire and we'll see a huge tax increase for 90% of the country, all income levels, then you're going to see spending programs get cut as well. that may very well lead to layoffs. are you expecting that to lead to a recession in 2013? >> no, no, i clearly we're not going to go off a fiscal cliff. but i do think the fiscal cliff is significant. i don't think necessarily resolve it early on. it represents a breakdown of civility in

of tomorrow's big presidential debate we are taking a look at mitt romney's tax plan and his claim it will cut rates without ballooning the budget deficit. we are interested in it for two reasons tonight. it was a major subject on the sunday shows where romney advisors continued to defend it and no doubt it will be a big topic tomorrow night. keeping them honest a bipartisan study found the math doesn't work and other studies which the romney campaign counters with, they're coming under fire tonight as well. take a look. >> six different studies have said this is very questionable. some of them are blogs, some from the aei, an independent group. >> these are very credible sources. >> one of them is from a guy who is a blog from a guy who was a top advisor to george w. bush. these are hardly nonpartisan studies. >> that was top romney advisor ed gillespie. more on that in a moment, first, i want to begin at the beginning. with what romney has been promising. >> under no circumstances will i raise taxes on the middle class of america. we will keep our taxes down. >> what mitt and i are proposing

was the romney tax plan. tonight chief national correspondent jim angle has a reality check. >> the debate over the romney plan for 20% across the board tax cuts is just as sharp on the campaign trail as it was in the vice presidential debate. >> not mathematically possible. >> it is mathematically possible. it's done before. >> it has never been done before. >> it's been done a couple of times. >> similar efforts have been tried before, such as the bowles-simpson commission and group called tax policy center argued romney could not implement his plan without raising taxes on the middle class. accusation president clinton is selling hard. >> the effect will be to give people with incomes over $3 million a $250,000 tax cut. raise tax cuts on the middle income people $2,000. >> one from the tax policy center said the accusation was only true with some assumptions about which deductions romney would not touch. >> he is not saying that there is no way the governor's plan has worked. you have to relax one criteria. >> the group later clearfied there was no reason romney would have to raise tax on th

the same question about governor romney. did he offer a clear plan for solving the country's problems. 49% said yes. 50% said no. remember, this is a scientific poll that reflects the views of people who watched the debate and our sample indicates that 33% of those who were surveyed were democratic, 33% were republican. that sample is about 8 points more than republican, eight points more republican than average of cnn polls taken in 2012 of all americans, so the respondents were more republican than the general public. let's continue our analysis. >> with our contributors and analysts. you look at the overall number, people say obama won the debate, but when you look at the breakdown in terms of en the economy, on taxes, on the deficit, promising numbers for mitt romney. >> what do you vote on? do you vote on the basis of how articulate somebody is, how good somebody counterpunches or the economy, when you think somebody has a plan to change or improve the economy, somebody has a plan to fix the deficit. that's the key thing that drives elections because it gets to voter behavior, not ju

in protest of mitt romney's plan to cut funding to pbs. the presidential candidate lit up facebook and twitter with comments following the october 3rd debate. romney said he "loves big bird" but would end funding to public broadcasting if elected. the rally invites protestors to bring along their favorite muppet. still to come, why companies are trying to get a cut of your sales on craigslist. we'll hear about that later. but first, home, sweet, home numbers. a look at what the data is telling us about the housing recovery. that's next. the housing bubble, lax underwriting, those toxic mortgages. it was really the collapse in real estate got us into this mess of a recession. but some numbers out just this week reveal some good news on the housing front. the data come from realtor.com, and we have andrea geller from coldwell banker is here to go through the numbers. can you actually call this a recovery? > > it's definitely a recovery. we are seeing just all across the countryn good things happening in the markets. > > so you measure this by what? inventory, housing prices, what els

for tonight's second presidential debate. how mitt romney plans to keep his edge. >>> a 3 alarm fire tore through one san carlos business. what made this one especially dangerous to fight. ,,,,,,,,,,,,,, >>> you're watching cbs5 eyewitness news this morning. >>> an early morning fire at a business on the peninsula. the biggest obstacle for firefighters. >>> and what it's going to take to get a winner on the road and when you can get your hands on world series tickets. >>> mild temperatures, we are heating things up the next couple of days. we'll have details coming up. >>> and roadways quiet out there. 101 and mckee coming up in your east bay and north bay commute. >>> good morning everyone

, romney's plan will, quote, reduce taxes on higher income households and shift the burden to other household, namely the middle class, making the governor's claim false. >> every analysis i've seen says that the math just does not add up. if you're going to make up for the difference in deductions, you can't find enough deductions. and certainly, you can't find enough deductions just among the wealthiest americans. >> reporter: well, the criticism of governor romney's fuzzy math should continue right up to the election, he won't be alone. the president's calculations have also been questioned like how he has created 5 million new jobs without counting the 4.3 million that he lost in the early days of his term. sam brock, nbc bay area news. back to you. >> okay, sam. that's some good digging there. thank you so much. >>> big bird references hit the internet after the first presidential debate. and last night the phrase that captured the virtual world was binders full of women. >> i went to a number of women's groups and can you help us find folks. they brought us whole binders full

for vice president joe biden. >> that romney's plans have become awfully sketchy is the phrase the president's used. i'm reluctant to correct the president. but i would respectfully suggest they're not sketchy, their a etch-a-sketchy. >> and paul ryan was back near the scene of the line. the 47% line, that is. ryan attended a fund-raiser hosted by leader on friday. private equity executive who was hosting a fund-raiser for mitt romney when they uttered the infamous 47% remark. donors paid $2,500 to attend a general reception and for $10,000 they earned a picture with the vice presidential candidate. >>> we have much more ahead this hour. >> here's what's coming up. >>> new documents about the attack on benghazi, published on the web. republicans say they offer transparency, but democrats warn the sensitive information could endanger lives. >>> they're the 8% to 10% who may decide the election. all morning, we're putting the uncommitted voter in focus. >>> the pennsylvania voter i.d. law was struck down, so, why are these still up? we'll go live to that swing state to explain. h

is create a tax code that for every dollar of tax you collect, you create more economic growth. romney's plan is exactly that plan, just like what we did in . >> right. >> it really works like mad. that's why i love the concept of simpson bowls. simpson-bowles. >> thank you so much. still ahead, president obama's latest green jobs fiasco. another administration favorite goes belly up, taking millions of taxpayer dollars with it. the details are next. victor! iot your campbell's chunky soup. mom? who's mom? i'm the giants mascot. eat up! new jammin jerk chicken soup has tasty pieces of chicken with rice and beans. you know the giants don't have a mascot right mom? [ male announcer ] campbell's chunky soup. it fills you up right. gives you a 50% annual bonus. and everyone, but her... likes 50% more cash. but, i have an idea. do you want a princess dress? yes how about some cupcakes? yes lollipop? yes! do you want an etch a sketch? yes! do you want 50% more cash? no you got talent. [ male announcer ] the capital one cash rewards card. with a 50% annual cash bonus it's the card for people

governor romney's plans will hurt education. >>> and you can watch the final presidential debate live on monday right here on cbs 5 starting at 6 p.m. the topic will be foreign policy. >>> the u.s. and iran have agreed in principle to negotiate the issue of iran's pursuit of nuclear weapons. the white house says it's willing to talk one-on-one with iran to find a diplomatic settlement. but a spokesman says president obama has made it clear he will do whatever is necessary to prevent iran from getting nuclear weapons. >>> the big game between stanford and cal was quite a controversy this year. it traditionally comes at the end of the season, but for the first time in more than a century, the big game between the cal bears and the cardinals was held in october. it's usually around thanksgiving. stanford fans say what matters most is they beat their hated rival. >> they were talking about it in the papers. i think it's great. it doesn't really matter. >> we were sad to leave the game early, but we know the bears fought hard. all we can say is go bears! >> the big game was pushed up becau

romney's plan and we're continuing make sure we educate seniors about that. on the "orlando sentinel" or any other newspaper, newspaper endorsements are important. there are a large number of significant newspapers across the count. i expect president obama will ultimately be endorsed by most of them as he was in 2008. >> but this one was a switch. this paper endorsed the president in 2008. and you know, you heard the quote we said. $5 trillion deeper into debt. fourth straight 13th figure shortfall. we have little confidence he could manage the economy better in the next four years. >> i think the last thing florida voters want is to go back to failed policies that mitt romney embraces that would take us back to a time when we focused our tax policy on millionaires and billionaires. mitt romney's proposed $5 trillion in tax cuts skewed towards the wealthy and all of the economic objective analysis. >> but what he say is different. >> to be fair, what he said is he wants an overhaul on tax policy. he wants to close loopholes and lower rates. i totally get your point. but it's not fai

mitt romney and his tax plan $3 trillion in the hole. but what would the tax policy center know? they're just a bunch of economists. >> there's no economist can say mitt romney's tax plan adds 5 trillion if i say i will not add to the deficit with my tax plan. >> should we be surprised at the fuzzy math? perhaps not. governor romney began his race for the white house in 2011 saying he wouldn't touch income tax rates at all. according to his website at time, mitt romney believes in holding the line against increases in marginal tax rates. no mention of cutting them at all. but a few months later in the heat of the primary his started to waver. >> i let it get down to 25%. ultimately let's get it down as low as we possibly can, if it's 20, 25%, but paying more than 25% is taking too much out of our pocket. >>s late february romney completed list 180-degree turn. >> i'm going to make an across the board 20% reduction in marginal individual income tax rates. 20% down across the board. >> which leads us to his present difficulties. john heilemann, the math question seems to continue to bed

traded jabs on future plans. >> governor romney says he has a plan to create 12 million new jobs in the next four years. "the washington post" called it a bait and switch. >> i think it's interesting that the president still doesn't have an agenda for a second term. i mean he's got to come up with that over this weekend. because there's only one debate left on monday. >> as predicted it looks like this will, in fact, be the first become dollar election. an nbc news analysis found president obama's team spent $352 million on ads so far while romney and his supporters have shelled out 455 million. that's a total of $807 million spent on television and radio ads with 19 days still left before the electric. more than half of that money was spent in the three battleground states of florida, ohio and virginia. >>> well, cycling legend lance armstrong stepped down as chairman of his cancer-fighting charity livestrong. the resignation comes after a week after an anti-doping agency released overwhelming evidence of doping by him. he won seven four de france titles. a bunch of companies wh

dismembering of romney's tax plan for a tough, positive declaration of what he has managed to do by president? whatever strategy the president chooses, wherever he places the sharp focus of his message, his time, his energy, his money, it's time for the man in the white house to buy his ticket and take his chances. he's got three weeks to make it work. joining me is new york magazine's john heilemann who has a big article in this week's edition and former pennsylvania governor ed rendell. first two new national polls. the new "washington post"/abc news poll has president obama leading mitt romney by three points. that's three points among likely voters, 49% to 46%. in that same poll taken two weeks ago before, before the first debate, the president led by just two. he's picked up a point. and the new politico/george washington university battleground poll shows the president with a one-point lead. the same poll taken before the debate had the president with a two-point lead. you see how it's dancing around that knife edge. anyway, both campaigns, both the president's and romney's are into the

that he thinks the that romney's plans aren't just sketchy, they're etch a sketchy. those are his big two zingers over the last two days. and they've gotten a big response from the crowd that's here. the crowd that's here is obviously supporters, but a lot of the goal is to get these people fired up, so they go into their communities is and mobilize other voters. it's funny, over the last few days and since that vice presidential debate, where he very famously used the word "malarkey" to describe what he thinks is the romney/ryan plan, the crowds have been chanting the word "malarkey." today he joked about it and said, my irish grandfather is very proud that all of america now knows what this word means. but he's trying to be the truth teller in chief. >> so the irishism continues. you know, what are you thaerg from vice president biden along with what we discussed? because as he does travel through florida, he has gone through some areas with large proportions of senior citizens. senior citizens, in some cases, like in sun city, in the tampa area, that went two to one for mccain in '08.

or neutral informative speech, you might have an emplo irsaying mitt romney's five-point plan, looks like a good one to me. as opposed to if mitt romney doesn't get elected we're not sure the jobs will be here next year. that is sort of where the rubber meets the road as far as coercion and perhaps using the power of an employer to try to convince an employee to go the right direction. >> eliot: mike, let me take this in a slightly different direction. you reported about the fact that the koch brothers are invading the space of their workers' social media use and finding out which of their workers, who of their workers is speaking in favor of an alternate political view and corresponding with them based upon that. that's a little creepy for lack of a better legal word. 1984 -- hey guys, now you're stepping over the line. how much of that are you seeing? and where? >> the story we saw at georgia-pacific, a lot of companies have taken facebook and twitter and started implementing these broad social media policies which th

, specific in your tax plan. can the president shows romney's vagueness again on foreign policy and will that wear thin. >> eliot: can you buy that argument? sometimes i step back and say tell me i'm wrong hasn't the president given us an domestic agenda between the jobs act and what he wants to do in terms of education and infrastructure, there is something there. >> i couldn't agree more. i couldn't disagree more with david. >> eliot: you're giving a dirty look. >> no, i would say that he the president has not articulated it very well. >> he proposed all these things. i'm amazed he has not run more of a harry truman campaign against these guys who have blocked things that could clearly have delivered jobs to americans. he doesn't want to look like he can't get along with these guys because that's a negative for him in the second term. he doesn't say the truth about what is happening here. >> eliot: i think that's true, but there is another hidden trapped door. the republicans turned back and said hey for the first two years you controlled both houses. >> that's not true. in th

governing plans. it's all attacks on mitt romney. and i think you saw the numbers a moment ago. i think they'll only get better on the republican side both locally and nationally as we go forward. >> in "the new york times," exclusive reporting about iran. this is "the new york times" lead this morning. it is u.s. officials say iran has agreed to nuclear talks. the united states and iran have agreed in principle for the first time to one-on-one negotiations over iran's nuclear program, according to obama administration officials, setting the stage for what could be a last-ditch diplomat effort to avoid a military strike on iran. it's been suggested that the talks wait until after the presidential election. but a senior administration official said telling their american counterparts they want to know with whom they would be negotiating. what is your reaction to this? >> well, my reaction is the white house has denied it, so i don't think there's much more to talk about. they denied that. obviously, war is always the last option. no one wants a war. we would hope this could get solved in anot

has a five-point plan? governor romney doesn't have a five-point plan, he has a one-point plan. that plan is to make sure folks at the top play by a different set of rules. >> reporter: within the first 20 minutes as they argued about the president's record on energy, they almost seemed to want to wrassel each other. >> we are now -- >> and production on government on government land is down -- >> no, it isn't. >> of oil is down 14%. and production -- >> what you're saying is just not true. >> that's absolutely true. >> reporter: they really don't like each other. >> mr. president, have you looked at your pension? >> no, it's not as big as yours. >> reporter: began and again, clearly a strategy, the president acceptably called romney dishonest. >> not true, governor romney. that's not true. >> reporter: romney was something of an alpha male out there, trying to take command of the stage and time, once even silencing the president. >> you'll get your chance in a moment. i'm still speaking. >> reporter: overshadowing the debate, looming over the proceedings -- the game-changing f

without a real plan here it's governor romney. >> let me ask you -- >> and to the extent he has one, david, it's going back to the same policies we had under the last administration. tax cuts for the wealthy, rolling back rules on wall street, and hoping that somehow if the folks at the top do well that the rest of the country will do well. we tried it. it doesn't work. we can't go back to that. >> finally, the state of the race at this point. first, we're beyond the debate expectations nonsense. what are the stakes, though, in this final debate of the serious conversation about differences about foreign policy? preview that for me. >> well, i think it's going to be an important debate. i don't think any one event is decisive. but this is an important issue. even though being strong at home and rebuilding our economy is the number one issue, people want to know they have a strong, steady hand in the oval office, and they don't want someone who's reckless and has been consistently wrong on foreign policy issues as governor romney has. we all remember his dukes of hazard tour of internationa

. >> president obama went after mitt romney economic plan. romney told the oil is that we can do better than this and that we do not have to settle for this. the third and final presidential debate is on monday. >> the third game against the st. louis cardinals is today and the san francisco giants will take them on for--the first pitch this 4 1:07 p.m.. we have found that marco is ok and he is expected to play after he injured his hip on monday's game. >> let's get a quick check on the market. the dow is checking in-. the s&p and nasdaq. we have financial analyst rob black. >> let's start with the u.s. builders. the builders came out because they are starting to build homes. they have pretty good numbers. home construction jumped 15%. would you want to know is that people with jobs, plumbers, home depot, loews it helps the economy. >> this is just the latest of a series of reports stating that the housing sector's are starting to improve. >> banking is improving bank of america is an program. >> bank of america's are in a report came out and they had a profit but it was very slight. they al

, ask who has the plan, who do you trust on the economy, mitt romney won those questions running away. >> sean: cbs news gave it to governor romney. democrats are asking where are the specifics of romney's plan? he's been very specific in all the interviews i've had with him. what is obama's second term? >> honestly the frustration of the american people, clearly, even democrats like myself, are a bit angry. this is why we don't see huge points on either side from the lack of specifics on both. >> sean: what is president obama's -- sum it up for me. we're 19 days out of the election. surely you know what his plan is. >> the president has been very clear on his plan. >> what is it? >> just as clear as mitt romney's plan. >> sean: what is the president's plan? >> he wants to work with the middle class instead of working with the -- like you -- >> sean: that's his plan? >> no. he wants to benefit the middle class. >> sean: clause i like you, this is a fun night -- >> he wants to reward people instead of rewarding people for shipping jobs overseas. >> sean: there we go, the bottom line is

would do. i thought the best moment was when obama said we don't have a plan, and romney had some good moments but rebound came back and he had him on the defense all night long. >> that is why he is doing poorly, the real president obama came back and in all of the key areas, those areas that matter, romney was ahead in all of them including with women, and i thought that the interrupting of each other and of the moderator against both the candidates, 28 times interrupted romney and only nine times obama, something has got to change at the next commission. they should lock back on these last three debates and say we have to fix this. >> again, staying on the moderator, crowley, there were three occasions she tried to cut the president off because the time was off and he is said, no this is very important, this the determine the difference between the race. three times. she let him go. i had a problem with that. bob mentioned if there were a plausible republican candidate he would be winning by seven or eight points. we found out mitt romney is ahead. the answer is question, is he abov

the economy, and exposed governor romney, tax plans, and the president said it's a sketchy deal. governor romney wilted during the scrutiny. and very important moments in the discussion about libya obviously. governor romney looked like sun playing politics and the president looked like a resolute commander in chief. the women's health topic, an important issue. we think the president made real progress tonight in really animating differences between these two candidates. >> one of the consistent themes throughout the night, the president arguing that mitt romney not fully honest. is there a challenge for the president in making the campaign too much at this point about mitt romney and not enough about what president barack obama would do for americans in the section term. >> out there, tonight, the president laid out his plan to reduce deficit, foreign policy vision. i think the president is talking every day where he wants to take the country. there are big differences. and remarkable moment. governor romney could not have been more dishonest, when he said he doesn't support limiting co

statement out. here it comes. he admitted that romney's plan to the cover everyone with pre-existing conditions wasn't as cult and dried as romney suggested. he said with respect to pre-existing conditions, what governor romney has said is for those with continuous coverage, he would tonight to make sure they continue to receive their coverage. we would like to see whstates d what massachusetts does. here's the story, he lied. he said it on one of the weekend shows, i think it was "meet the press" that might the guy who works for him said it's not true. he must know he can continue to say things on national television that aren't true. >> this is the problem in terms of president obama and his supporters having said the fault was jim lehrer. obama is going to have to if he feels mitt romney is saying things that are not right or not true or misrepresentative of his positions, it's the candidate's job to make that case. i know you talked about therlier in the show. that is going to be something i suspect you will see president obama hit very hard tonight. this is a key issue.

and mr. romney says his plans are false and mr. ryan says mr. obama's plans are all failed. thas the choice the two present and they will do so on monday night. romney only has one other event and that's tomorrow night in daytona beach. >> that should be interesting. the vice president was out on the trail today, and he got a little bit mixed up on the wars. >> he did. he was throwing grenades so to speak rhetorically at mr. romney and started asking whether or not voters believed mr. romney's plan to keep spending where it is in the military as opposed to some of the defense cuts mr. obama has propose said a good idea or bad idea, and then he asked this question about whether they had served in two countries. watch. >> having been in afghanistan 20 times and my son serving there. the sacrifices. how many know somebody who served in iraq or iran? how many of you know someone who has been injured or lost this iraq and eye reason? and iran. >> that's the thing where if he said it in the vice presidential debate last week it would have been a disaster. there have not been any troops

a good vision for -- >> it's partly a referendum on the economy and it's pointing out what romney's plan is, 20% across the board tax cut, but what romney's doing now is that the president could earn on rom hi he he he doesn't have a tax plan, romney wants to point out out to the voters. >> obama does have a tax plan, he wants to raise taxes on small business owners, raise taxes on business and raise taxes on entrepreneurs and raise taxes. >> the obama job plan is sitting in congress, it's inactive, nothing's happening on that front, the president's just going to let these tax cuts expire, so this really comes down to the ideological choice for voters as an alternative or is it more of the same. >> obama -- even if he loses, he wants to raise tax rates on the upper income and he's willing to let all taxes go up north to get that. now mitt romney is a leader. mitt romney is a deal maker. do you think romney will say you're going to foster a recession with your attitude on this fiscal cliff? >> look at the attitude on the campaign trail, romney has a debt clock behind him, he's with boehne

romney may say something about inequality but it implies slower growth under president obama, maybe not for middle-income americans and faster growth under romney. although, of course, we don't know exactly romney's plan, but i think what he has in mind is a big tax cut reagan, bush like, hopefully improving the tax system. i don't know if he could really believe that would balance the budget or be neutral right away, but i think he believes he can much improve growth and over the long run things would balance out. president obama, you know, says while we are well in to this, housing's picking up and things are gradually healing and if you are patient things will be a lot better under me, too. >> what about the fiscal cliff? we are obviously going off the fiscal cliff at the end of the year when the tax cuts expire. we will see a huge tax increase for 90% of the country. k, all income levels and the spending programs get cut, as well. that may lead to layoffs. are you expecting that to lead to a recession in 2013? >> no. no. i clearly -- we're not going to go off the fiscal cliff. i

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