Your money has arrived in Washington, but does that mean a change in our economy? ;
How Obama defined his presidency in the first 100 days
What will the Obama administration do for health insurance and health care?
January 25, 2009 broadcast
15: 00 ETTHIS is a report card in a hurry.
This copy may not be in final form and may be updated.
Ali Weixi, cnn host: Welcome your money. I\'m Ali Velshi.
There has been a change in Washington this week, but that will mean a change in our economy?
In his inaugural address, President Obama declared that Americans chose hope rather than fear in the face of tough challenges, but is Wall Street listening?
On the same day, the Dow Jones industrial average fell 332 points.
Wall Street experienced its lowest close since the end of November, and the fear of the market has returned, reminding us that the economy is still in a very serious predicament.
In 2008 alone, 6 million were unemployed.
More than 11 million Americans are still unemployed, and our banks and carmakers are struggling to survive.
Christine, these are the problems that the new government must solve.
Christine Roman, cnn host: Thank you, Ali.
I\'m Kristen Roman.
President Obama\'s choice of Treasury Secretary Timothy Geithner just told Congress this week that fixing the financial system would be a long-term effort. (
Start Video Editing)
Treasury Secretary Timothy Geithner: We are starting to fix the system, and the process is not coming to an end, and more substantive action needs to be taken on a very high-profile scale. (END VIDEO CLIP)
Romans: more substantial action on a very dramatic scale.
Traditionally, the first 100 days after the new president took office determine the direction of the new president.
Nothing wrong;
Banks and the economy will not get better in 100 days.
This is a historic challenge for the president and his team.
VELSHI: several guests joined us.
CNN Special Correspondent Frank Sesno is with us. Karen Tumulty is a national political reporter for Time.
\"Thank you both.
We should probably discuss this 100-day discussion in the first place, because, you know, it\'s not a typical presidential term.
This is not a typical time.
The day before Obama took office, the clock began ticking.
Karen, we started with you.
What is time and urgency in dealing with the economy that the president has to convey?
Karen toumuti, time national political correspondent: \"You know, the initial plan after the election was Barack Obama, and he won\'t be seriously involved in the economic mess until he takes office.
Basically, there is some debate within the Obama camp that they should have George Bush in charge of the economy.
They soon realized that they had to have a good start on that, and at that point, you know, they talked about Congress putting the stimulus on his desk on the first day.
At this point, they seem lucky enough to finish the work in the medium termFebruary.
Romans: Frank, you know, one of the things that people have been telling me is that economists have been telling me that some people just delve into what\'s going on in these numbers and in the economy.
They smiled and told me that talking about the first hundred days is really the old way of thinking, we are in a whole new world, 100 days, the president has such a big job here.
This is not any difference you will see in 100 days with the economic imagination.
CNN correspondent Frank Snow: imagine what the Dow will do for the next hundred days.
Reset your watch.
It was the first few hundred minutes or hours.
Throw it out.
The president was in a wartime position, but it was a front line of domestic war, and things happened so quickly in the fog of this economic crisis that people would soon think of things.
Already impatient on Capitol Hill.
Some Democrats say they don\'t feel enough sense of urgency under the mediation of the Obama team.
They believe that resolving the issue of foreclosures and bail-outs needs to be much more than the $350 billion that has just been foreclosed a while ago, and they say that if you need to attach more money, you need to adjust it so give it to us in a few days.
So there is absolutely no running room.
The president has no breathing room.
He\'s in the middle.
This is an interesting point.
Karen, let\'s talk about this.
We are not entirely sure what we should do with it.
There is a traditional way to talk about tax cuts and then stimulate the economy, because businesses and people with a lot of money invest and create jobs, and then there are a lot of people who say why not just take the $825 billion stimulus plan and give it to everyone for Americans to use?
And about two-
The third in the proposed stimulus plan does talk about this and gives people money more directly through unemployment relief, cobra and infrastructure work.
We have never really seen differences in stimulus.
What do you think of this?
TUMULTY: they really want to do everything at the same time.
Earlier this week, the Congressional Budget Office released a report pointing out the appropriation, the part of the stimulus plan, you know, that\'s less than half the figure even in the next two years.
So, yes, the tax cuts can be introduced soon.
Aid that puts serious pressure on people and extended unemployment benefits can be resolved quickly, but, under the guise of stimulus, they try to pursue a longer-term agenda under this package, because they knew the plan had to go through.
ROMANS: You know, one thing people have been saying, Frank, is that, frankly, it has to work.
A year ago, we passed a $168 billion stimulus package designed to prevent worse economic conditions, but it was only a temporary situation at best.
Worst of all, it didn\'t do anything, just increased our deficit and increased the amount of money we had to pay in the end.
Do you think the American public will be upset?
A year ago, we were told we had to do this, spend the money or whatever, and then in the fall we were told we had to do this, spend the money or whatever.
Now again we are told that we have to do this, spend the money or whatever.
SESNO: Yeah.
It\'s not just the uneasiness of the American public, it\'s the uneasiness of experts, if you wander around Washington like Karen and I do, and when you\'re in town, you talk to people close to the process, they will admit that they are in a completely unknown range and that the scale and complexity of these issues are so cumulative and tied together to try to unlock one at a time that it simply doesn\'t work, but the question is, can you unlock them at once?
Just in the newspaper this morning, you saw Microsoft, Sony announced more layoffs, and you saw the failure of the home construction industry.
Your portfolio, retirement funds and home equity are all reduced.
You have a business that is shrinking, and you have had a huge financial crisis in the industry.
They are trying to solve all these problems at the same time as a brand new team.
This is almost overwhelming.
VELSHI: a bad move among investors.
We have seen numbers in the stock market that have not been seen for a while.
These layoffs, you know, Microsoft is not a company that you thought would be massively laid off. Just this week, more than 30,000 layoffs were announced globally, but this nonsense happened again on Wall Street.
We \'ve heard of John Seane, former CEO of The New York Stock Exchange, Merrill Lynch.
Do you remember the days when John Seane was a hero?
He\'s the one who came in. . .
ROMANS: Mr. Fix It.
Great, Karen.
That\'s why many people think I \'ve had this experience with Wall Street.
I don\'t trust them.
There is no regulation, and now we continue to see the bad behavior of banks and their CEOs not helping the situation.
You know, I don\'t quite understand that.
I want to know how many of these guys are. powered P. R. people.
It\'s like executives from car companies take their corporate jets to ask for handouts from Congress.
You know, even PR 101 will let you figure out these unnecessary mistakes.
Romans: this is how Wall Street works.
This is the way it works for a long time, but the information outside is that it can no longer work like this.
Your biggest investor right now is the US government.
Bank of America now.
VELSHI: you should have three people sign these days before you buy a box of pencils.
All right.
President Obama says choosing hope instead of fear is easier said than done when your job is likely to be online.
The White House says they will do something about it. (
Business break)
Welcome back.
Now, our CNN White House correspondent Suzanne malverox and our friend Frank snow, CNN Special Correspondent and Karen tumouti, national political correspondent for Time, join us.
\"We \'ve been talking about the first 100 days and the incredible challenges.
Just this week, we found out that the president will have a daily economic briefing like his daily intelligence briefing.
I think that shows how serious this crisis is.
White House correspondent Suzanne marviaux, CNN: You know, of course he\'s trying to convey the message that it\'s very serious.
He is meeting with Larry Summers, his chief economic adviser and many others who just sit down every day and talk about the threat to the economy, like that intelligence briefing.
He will look at unemployment and employment.
He said recently that it was an unprecedented economic crisis and that the news was not good, he said very frankly.
So he realized he was getting engaged.
He has to be told that this happens every day, but the biggest challenge here, as you know, is to really try to do it ---
Congress received $825 billion in economic stimulus.
What we \'ve seen him do over the last few days and in the future is that he\'s sat down with Republican and Democratic leaders in Congress trying to push this thing through
He has a lot of nay sayers looking at this and saying where is the responsibility?
Where are the money going?
What he said recently is this is a three. legged stool.
Obviously, part of it is all the money he wants to put in, and he says it will create up to 4 million jobs, but the other part of it is accountability and reform, to make sure you don\'t have these companies renovating their offices with a bailout fund, to make sure you don\'t have an incredible waste of government report to say.
So he solved all these problems.
VELSHI: You know, one thing you mentioned about the company just now.
That\'s what we were talking about just now.
A report earlier this week said Merrill\'s CEO had spent millions of dollars renovating his office before resigning.
He came to an office to try and save the company that had already written down billions of dollars.
Even if it\'s not money. . .
By the way, I think so.
VELSHI: . . .
Before it became Bank of America, it was Merrill Lynch.
It is still unacceptable when people lose their jobs in this country.
Frank, let\'s talk about the idea of creating jobs.
President Obama said the money could create 4 million jobs.
There have been studies linking infrastructure spending to job creation, but ultimately we don\'t know how to create jobs effectively.
We don\'t.
Many worry that the work of these infrastructure will fall into deep darkness, and that the money will be lost in bureaucracy.
Very interesting.
A few weeks ago, during a conversation with the county administration, they were actually meeting with Obama transition officials to ask the states not to get in the way.
Because they don\'t trust the United States, they give us the money directly.
They worry that politics and bureaucracy will reach another level if the money is handed over to the governor, and they say we are ready for bridges, libraries and projects.
There are also competitive and political factors.
How long does this take?
That\'s why it\'s convincingly argued that if you cut taxes, money goes directly to consumers, especially those at the low end of the economic ladder, every dollar they spend will stimulate the economy faster than entering these infrastructure projects, who knows how long it actually takes.
Romans: mainly in the male field, Barack Obama said a lot during the campaign, and many times, if his great mother can value her work like a person who knows what she can do.
Many people will argue about cultivating someone to become president.
But the $0. 4 billion figure is not so much an economic figure as a political one.
White House chief of staff, Ram Emanuel, insisted behind the scenes that if they wanted to sell the package, they had to set a very clear goal and they had to attach it to the package.
So that people can understand it and measure it.
SESNO: If you really want things to go on, some Conservative tax cuts will definitely push for one of the most controversial ideas, which is the suspension of payroll taxes.
Social Security taxes for a year or two, which will benefit both workers and businesses as they all contribute on an ongoing basis, not one --
Time is up and you will get a tax refund, maybe you will pay off the bill or you will deposit it in the bank, but you actually have more money on your salary every week.
It is estimated to be about $600 billion per year.
This is a big blow.
This is a big blow.
In the end, people will not spend money if they think they will lose their jobs.
Frank, the fear of unemployment seems to bother everyone.
That\'s right. It\'s psychology now.
When your investment is gone, you are afraid of losing your job, you are afraid to watch, you have a child who goes to college, a retired parent, or you are considering retirement.
The wealth effect is really important here.
Susan, you\'re at the White House right now and there\'s a new team that comes in and they \'ve got to say how bad the situation is and then they have to make these big promises, so they can sell what I mean is a must plan an incredible tight rope because in a way they almost have to commit, but who knows what they can offer.
What President Obama has asked the American people to do is to be patient here.
He\'s not a patient man.
He\'s someone who wants this to happen right away, but they\'re trying to lower expectations for here, and I think it\'s interesting when you talk about the employment numbers there.
We heard President Obama say there is a huge difference between 3 million and 4 million jobs.
There are 3 million to 4 million jobs there.
I mean, people are asking for more details here.
They are asking for more specific, deeper tax cuts, and the big question is, can you spend that money quickly enough to create jobs?
People want a quick solution here and they don\'t want to wait for something long term.
Therefore, he must give a feeling of hope and optimism that will eventually improve people\'s lives and change people\'s lives. But he said the American people must be patient and he is easing that in the long run.
ROMANS: If you are trying to create 3 to 4 million jobs, you have to create 1.
2 million is just for new people.
All they thought was to stop the bleeding.
VELSHI: Yes, create 1.
Deal with the 2 million jobs we lost.
As Suzanne said, we are now investing in 3 to 4 million jobs, billions or even trillions in an unprecedented way.
Nice to talk to you, Suzanne.
Thank you very much.
Susanna Marvo, Frank sesonoma and Karen toumuti are delighted to speak to the three of you.
Roman: OK.
The new government is committed to a big change in health care, what it means for you and your family. (
Business break)
VELSHI: finding affordable health care is one of the biggest financial burdens facing many families, which, by the way, puts many people into personal bankruptcy.
President Obama has promised to change our health care system during the campaign.
So what will his government do for your health insurance and health spending in the coming years?
Okay, it\'s time for family money.
Andy Rubin is vice president of key affairs at New York University\'s Langone Medical Center and host of the \"Health Care Connection.
VELSHI: So you get a lot of calls and a lot of letters from people.
Andy Rubin from LANGONE Medical Center, New York University: I heard from a lot of people.
VELSHI: who is confused about the medical system today, how it happened, what will happen.
Let\'s talk to the latter.
In all these discussions about economic stimulus, I can imagine, so far, the money we spend on the economic system in this financial crisis may have solved our health care problem, but what happens to our health care?
This is a good point of view.
VELSHI: What happened to our health care system?
Rubin: There are a lot of interesting proposals on the table right now.
The question is what is achieved?
Health care is very complicated.
Many solutions and many problems are solved by money. The problem is how much money can solve these problems.
I think you will see some quick changes, for example, that they have implemented some form of universal health care.
People think it is very successful in Massachusetts.
Their number of uninsured people has fallen.
On the other hand, there is a shortage of doctors and the national budget for health care has increased significantly, but I think you will see some national platforms that are really similar to the Massachusetts plan.
Romans: So the Obama administration has pushed this forward and used it as part of the stimulus plan, as well as part of the repair economy, saying that if we can modernize medical technology, if we can reduce costs and get people covered and covered, then we can help the economy.
Rubin: of course.
There are two components, one short
Fixed on a regular basis, and a long-term fix. The short-
The term fixed is that people are losing their jobs, and the way you stimulate the economy and make people enjoy health care is that you increase your funding to the states to provide Medicaid, this is a quasi-state federal government program to care for low-income people.
This will have a direct impact and can be done fairly quickly, it will put money into the economy and keep the hospital running to keep the doctor busy.
In the long run, a broader solution is needed in the long run to ensure that all Americans who do not have insurance;
About 40 million, 50 million people have insurance.
So you have to put in place some sort of mechanism, some kind of national insurance plan, whether it\'s private, public, a combination of the two, to expose you to all these people who don\'t have insurance, create a larger group of people to pay the premium.
Therefore, insurance companies subsequently provided more insurance for a wider range of people, including those who are not currently insured and those who have insurance before
The current situation and the people who are afraid to transfer to different health care programs are concerned that their situation may not be covered.
VELSHI: Let\'s talk about a specific proposal in the stimulus package.
The automation of medical records does not seem to resonate, but in fact it is a very, very important task.
Many hospitals have experienced this in the past few years.
I like the theme.
VELSHI: It\'s fascinating that the records are not automated and the doctor can\'t see what\'s going on in the pharmacy and what\'s going on in the radiology department.
The automation of medical records has a lot of room to save.
Romans: a lot of money.
Prevent errors that are completely preventable.
A lot of great things have been done in this regard, but for some reason it was not caught.
Rubin: Like everything else in health care, nothing is easy.
To save money and improve quality, you have to invest a lot of money.
If the City Medical Center wants to invest in the e-medical center, you might say $100, $0. 18 billion.
Most of these medical centers either lose money or barely get.
VELSHI: have a long timeterm saving . . .
Rubin: There\'s a good long-term savings that the Obama administration is talking about automating records and clinical outcomes to save money, but to do that you have to invest in the system, but it\'s also a stimulus.
VELSHI: It\'s not a problem with scanning records, it\'s every hospital room on any one of the Internet and everyone is connected on a handheld device.
Rubin: I\'m working on this right now at the New York University Medical Center, which is a huge project.
Romans: Let me ask you quickly that you are out of work and your job is out of health care.
What do you do?
Rubin: The first thing you want to do if you can, I tell any unemployed friend that I don\'t want to sound like a flip and stick to your insurance.
Although it is easier to say so than to do so.
So you can do something.
One is that you have a cobra, but on average only 9% can afford it.
Four to six times more than you pay.
This is the same insurance, but because your employer is no longer paying the premium, the insurance is four to six times more expensive.
So it\'s expensive.
If you can maintain the cobra, then maintain it.
If you want to buy insurance for yourself, you may want to get your whole family off the bus.
Difficult choice again.
You can take a look at the Medicaid program, or if you are currently in good health and don\'t worry about pre-
Under the existing conditions, you can go to the market to buy a high deductible plan just to make sure you have catastrophic insurance, but don\'t give up if you can avoid it.
VELSHI: Vice President of Clinical Affairs, Andrew Rubin, MD, Sirius XMRadio.
Roman: OK.
We need to see where you are now.
What does 2009 mean?
Will the recession end this year, or do we need to worry about something worse? (
Business break)
CNN anchor fredricka whitfield: Hello, this is Fredricka Whitfield in Atlanta.
The news is: President Obama predicts that the economy will deteriorate if lawmakers do not accept a $825 billion stimulus package.
After his first weekly radio address as president this morning,
Obama met with his economic team.
On the outskirts of Barcelona, Spain, the roof collapse claimed the lives of four boys. Hurricane-
The wind forced the children into a sports center.
Metal roofs and cement slabs of some buildings subsequently collapsed.
Nine others were injured.
The suspect in a horrific knife-wielding murder in dansemino, Belgium, was charged today with three counts of murder.
Two babies and one adult were killed in the kindergarten attack yesterday.
More than a dozen others were injured, most of them children.
Has the Obama family at the White House changed how people think about Africa?
American family?
At the top of the hour, there\'s more.
Now go back to the money of Ali Wahi and Christine Romans.
We are now in a formal recession for almost 14 months.
The Obama administration wants a huge stimulus plan to prevent worse things from happening and to stop the bleeding in the job market.
Even before he took office, we had promised $7 trillion.
I don\'t know if most people are aware of this.
Roman: The rescue is $7 trillion.
Many people are asking if it works.
Some economists and analysts are beginning to use the dreaded word \"d\" as in the Great Depression.
Peter Morici, an economist at the University of Maryland, announced that the economy has fallen into recession. He told us the reason here, and economist Stephen Leeb joined us.
Author of the new book \"The end of the game, how to thrive in a broken economy.
\"Thank you both.
Let\'s start with you, Peter.
You\'re the news maker in this area.
You are one of a small group of people who say we are in depression. Explain that.
Peter morici of the University of Maryland: Well, the whole sign of the Great Depression is a structural factor that causes the economy to shrink permanently.
For example, when Microsoft announced its layoffs yesterday, it said it believed the economy had somehow fallen indefinitely to a lower level of activity.
The reason for this is that all of the money we put in did not solve the bank\'s collapse, and our demand for foreign goods and services is so large a structural trade deficit for all Chinese goods.
We will not get rid of this mess unless we address the bank and the oil trade deficit with China.
Once spread, we will go back.
Stephen, you don\'t think it\'s a sign or a traditional Great Depression.
Explain to us why you think this might be semantic.
Stephen Leeb, author of the end of the game: \"I agree with a lot of Peter\'s points, but no, I don\'t think so.
It usually takes about six months to stimulate the economy.
We were talking about raising interest rates back in August.
This is the Fed debate.
Fight inflation
Incredibly, by September, we realized, hey, we\'re not in Kansas, and that\'s when we started to go all out.
This stimulus activity is only three or four months away and I suspect we have seen some evidence.
For example, you have seen a rebound in energy demand.
Mortgage applications began to surge.
You have seen the price of goods start to pick up.
In the next two or three months, I think, we will see really clear evidence that we have bottomed out.
If I can comment on Peter\'s point of view on structural issues.
ROMANS: Sure.
LEEB: the trade deficit is a whole problem, but the way to solve it is very simple.
In fact, we can invest a lot of money in alternative energy infrastructure.
To create a new industry, because we don\'t import so much oil, we basically solve a lot of our trade deficit.
VELSHI: This --
This argument was put forward by Boone Pickens.
Yes, I think it\'s absolutely right.
These are two birds, one stone, much better than what we did in the new deal.
The new deal gives us the Hoover Dam, a whole new industry that our children can thrive in.
This is an interesting point, Peter.
Barack Obama made this point before the election, arguing that the economy\'s past 15 to 20 years has been driven by cheap credit, and that the next 15 to 20 years can be driven by alternative energy.
What do you think the Obama administration has to do to get us out of a serious recession or depression?
Muric: First of all, they have to fix the bank;
We can discuss this in terms of energy.
Many of their proposals will enable us to use domestic energy more effectively and replace some natural coal and natural gas in the process of generating electricity.
The real problem with energy is oil imports from cars.
We will not go to electric cars right away;
They will transition slowly.
We need incentives for people to trade Lake Tahoe for more reasonable things like crossing.
Instead of having to get the next car, they added 50% kilometers of gas mileage with most teams.
With regard to China, we need to take some basic measures against their currency.
They don\'t evaluate it, so we need a tax conversion.
The problem I see is that Obama is talking about energy issues and solving them in a timely manner. He is not talking about trade, what his economist and his new finance minister have said is to continue with the bank\'s current policies.
Then I will ask you quickly.
Let\'s wrap it up for you.
We only have a few minutes, but what do you think of all this?
LEEB: Well, I think, a, we can do a lot of things with alternative energy, and I can create an industry that I think can start working right away.
Wind power is probably the cheapest way to generate electricity.
We need to work on the grid so the wind can be used.
As far as banks are concerned, there may be some form of nationalized regulation, which I hate.
But on the other hand, if you think of AT&T as a model, a company that used to have a company called AT&T, they have been there for a long time. term thinkers.
They are widows and orphans.
They paid dividends, they traded, they were under strict supervision, AT&T introduced transistors, probably the Internet.
So many Nobel Prizes can\'t be counted, so the regulation of banks is very strict and strict. . .
This does not mean. . .
Loeb: No, no, it\'s not consistent with capitalism.
VELSHI: It\'s a pleasure to talk to both of you.
We should let our audience know that these two people are the smartest in economic thinking.
It\'s always a pleasure to have you, Peter.
We will continue to talk to you about this, Stephen, you wrote a book on how to thrive in the event of an economic collapse, and we like your work, so I hope our audience will
Roman: OK.
The change of the word has been thrown a lot.
But you know change is good or bad.
VELSHI: Is President Obama\'s version good or bad for your money? (
Business break)
VELSHI: Well, the country is now in the hands of President Obama and the Democratic Congress.
They are not the only ones who come up with big changes, but must change be a good thing?
It depends on who you ask.
We put this question on the left and right.
Amy Holmes is an independent conservative and CNN contributor, Mark Green is president of American Airlines and editor of the new book America change.
\"Mark, let me start with you and change.
Did you like the changes you saw in Washington?
There are some changes in yourself that you think should go further.
Mark Green, change in America: Beyond Big-
Tickets for stimulus and low stimulus items to be determined
Because information is a new goal, so carbon economy and education reform, for the United States, we have 67 of the best progressive scholars who have put forward great ideas, three, but they are all deceived on the basis of the middle class.
They felt that after an accelerated bus called prosperity, they ran faster and they couldn\'t catch up.
First, there are some new ones and some old ones.
An old problem for the middle class is real tax reform.
I\'m not talking about tax breaks for the rich.
Warren Buffett said there was a class war and my class started and we won.
Instead of canceling the estate tax, so-
Harris Hilton\'s billionaire tax, you have to tax the affordable to pay everything we need.
I think the real tax reform should and will be on the agenda.
The second and third are national transportation policies.
Transportation, service transportation.
ROMANS: You want to see that most of our economy is light rail systems for energy, fuel for cars, trains and planes.
Green: 70% of our energy is transportation. We emphasize that highways are more energy efficient, less environmental pollution and smarter than light rail.
This is a circular system of our economy.
We didn\'t discuss much, and in the end, everyone was trying to get a new job, but millions of people are out of work now and we need insurance for lost wages.
Explain what this is because I find it interesting.
Explain what it is.
GREEN: OK.
Let\'s say you made $100,000.
If your income goes down twice
Because something happens in your workplace, it\'s too jarring.
Trade is helpful to the United States, but there are also some losers.
ROMANS: Right.
Green: So the federal government should help like health insurance, pay loss insurance, so if the salary crashes, you can do it in a few years.
We can\'t all subsidize.
Romans: but it provides a buffer for this transformation, and we keep hearing about the transition between the losers and the transition period.
VELSHI: Mark said tax reform, he said transportation so that we can reduce consumption in terms of energy and wage loss insurance.
What are your priorities for this government?
Amy Holmes, CNN contributor: Well, my number one priority is to look at the stimulus and lose a lot of fat.
We just received a report from the CBO this week, less than half of $8.
25 billion Shun said that the project has not been discussed with Republicans, so there is an atmosphere of bipartisan cooperation, and less than half of the time will be spent at the end of 2011.
Is this really a stimulus or is this the same?
We were told Hope and change, but we have Democrat Nancy Pelosi who just said this week, you see, we won the election and we\'re going to make the rules and pass the legislation, this is not a cooperation between the two parties or a stimulus.
While looking at some of the things Mark is discussing, I certainly saw where he came from, for example, let\'s talk about light rail.
I\'m from Seattle.
That\'s my hometown.
They are building a light rail system there and they can even expand from where they are now, which will be $22. 8 billion.
For a city, even the Seattle report shows that carbon dioxide emissions will only decline in terms of carbon dioxide emissions. 7 percent.
You can actually buy CO2 offsets for $2.
5 billion, but get the same return for your money, not this huge project that may not even really serve the people.
I don\'t think we need centralized government planning on these local issues to figure out what-
How does the city develop and what plans do they have?
Do they want more suburban expansion?
Do they want more urban concentration? density living?
Local communities should strive to make these decisions and how they can be used wisely.
What do you think, Mark?
Green: This is 1950 of the rhetoric that the government has focused on planning. Bush lost 2.
With 5 million jobs in supply this year, tax cuts for the rich have completely failed, putting us in a near-depression situation.
So the Obama administration will try a different approach.
Public transport is less polluted and more efficient.
Some investment may be needed at first.
As long as we have a hybrid plug, the internal hell engine will be the past
At a gas station, not just a gas station.
So I understand where Amy comes from, but it\'s the same as the Republican old saying.
Obama won three times as much as Bush;
He will try something new.
Romans: there is a lot of money to spend, and there are many people who have opinions on how to spend it.
Amy, thank you very much for joining us.
Mark Green, thank you both very much.
VELSHI: You know these topics about how much the automated medical records have to cost.
Roman: automatic medical records.
VELSHI: automatic medical records.
This is another question.
VELSHI: In the long run, there are a lot of things that will save us money or reduce our consumption, but there is a need for some spending now, and that\'s all about this very important debate.
There are blue collar jobs and white collar jobs.
VELSHI: when it comes to greening economy.
Romans: That\'s right, we\'re going to tell you about the work of green white collar workers and how to find them, what they pay for, and we\'ll let you know if they\'re hiring. (
Business break)
ROMANS: OK. Enough.
All the terrible news about work is enough.
Our friends at Fortune found that many companies are hiring people and hiring people.
Sisco, there are now 500 vacancies, Edward Jones needs 1,000 workers, Whole Foods is recruiting and goes straight down to Whole Foods to get a job.
VELSHI: Or Fortune magazine is being recruited as the best 100 companies.
Who\'s on the list?
We are told by our senior reporter, Alan Minov.
Alan, which company is ranked first?
CNN senior correspondent Alan Minov: Ali, Kristin, is most popular with Net App, a computer data storage company once known as a network device.
It has taken the number one spot from Google, which has fallen to number four. (Start Video)CHERNOFF (voice over)
: Computer data and storage company Net App provides paid days of volunteer work to employees like these five days each year, provides adoption assistance and other generous benefits, and promotes inclusion, the open culture makes it the first choice for Fortune magazine\'s top 100 companies.
Being kind to the staff said that President Tom groghens is at least as important as being kind to the staff.
Tom georgens, president of net app: compensation issues.
I\'m not going to make other suggestions, but I think the pay is more of a sense of discontent than a sense of satisfaction.
I think that if your working environment is not good and people don\'t like their co-workers and the treatment they are treated, I don\'t think you pay them enough.
CHERNOFF: brokerage Edward Jones is second on the list, and Boston Consulting and Google have been number one in the last two years.
Google has to cut back on some of the legendary perks, like offering free ski trips to all its employees.
Fortunately, Google told CNN there are a lot of great places to work.
To consider that a listed company must nominate itself and then allow the randomly selected 400 employees to make detailed criticisms of their employer.
Lee Clifford of Fortune magazine said: \"The questions we ask are very honest.
What is the atmosphere?
What is your boss like?
What is the atmosphere around the office?
If you really want to know when to work in this place.
CHERNOFF: among the top companies in the four seasons, there is one of the most diverse workforce.
Building a bear work store is one of the top companies for female workers, and Aflac is one of the only six companies on the list that have never laid off.
In today\'s economic downturn, many of the top companies such as Starbucks, Microsoft and Zappos.
Com is cutting jobs. (END VIDEOTAPE)
But there are now 20 companies recruiting.
The complete list is on the wealth page of CNNMONEY.
Include the exact positions the 20 companies want to fill. Ali. Christine.
Romans: Most companies employ more than 350 people.
So they hired a lot of jobs.
We\'re just kidding.
Is the New Black Green?
Green is the New Black. Green-
White-collar workers, they may be in the future, they may have a way out of this financial mess.
Obama\'s White House has high hopes for a green revelation, and this administration makes it sound like a good plan, but how will it create jobs and how will you end up finding jobs for yourself?
Romans: it\'s time to see the scenery from the top.
Matt Arnold is a partner of PriceWaterhouseCoopers and founder of sustainable finance specializing in environmental policies and strategies.
What is green? collar job?
In theory, you have one.
You are a green white-collar worker.
Pricewaterhouseworkers matt arnold: I used to be a guy who hugged trees and now I\'m a green collar worker.
It has gained more respect.
The Green Collar work is actually any work you are trying to make the place greener or cleaner.
So imagine that a construction worker is building a wind turbine farm or a recycling plant, and a home builder is installing solar panels and energy efficiency systems at home.
Be a lawyer in environmental law and a consultant in environmental consultation.
Any one of us can have a green job.
There are now thousands of green jobs in all companies.
It\'s hard for them to count.
VELSHI: Right.
ROMANS: You know, I really know a guy who goes through--
People can hire them, small companies can hire them, they can come over and show them how to save money, how to get green, or it may take costs to get green, but it can save longer.
Arnold: that\'s it at home.
The cost of the front end is slightly higher, but the operating cost is lower. So there are 8.
5 million is the number we see. -
It is difficult to calculate these tasks.
What is Green work?
VELSHI: Right.
Arnold: A lot of people are greening their jobs and they are not counted. But 8.
5 million people, this is probably 10% of the labor force we can consider having green jobs.
Romans: green your job, go to your boss and say, I know how green is a good idea for us? -
Do you think this is the selling point of the office?
Arnold: It\'s a selling point because it\'s to reduce the cost of the office environment.
This is also to inspire people. This is fun.
Very meaningful. It\'s important.
It\'s not just about salary.
So green work is a good job.
VELSHI: OK.
Where is the best place to go?
We are facing a country with an unemployed population of more than 7%, and millions more will be unemployed, and in many cases they are unemployed in jobs that will not come back soon.
So if I\'m excited about the green economy that this government wants to promote, where will I go?
What can I see?
Arnold: All work will make sense in the energy economy.
So, if you look at the early stimulus program, there\'s a lot of support for energy efficiency and renewable energy.
But, really, you can\'t reinvent yourself as something you\'re not.
I think if you are looking for a green job, the first thing you have to do is educate yourself and what does the Green problem have to do with your skills.
What do you bring with your existing skill sets that are slightly different from what others bring?
Then the internet is like hell.
There is a network. They\'re tight.
People know each other.
I have been doing it for 20 years and it is a big network.
Roman: OK.
Thank you very much. Thank you for coming.
Green Collar work
Where is my rescue plan?
I don\'t know.
I was thinking about the same thing all the time?
VELSHI: The stimulus plan could reach nearly trillion dollars.
How big is this for me, you and you? (
Business break)
VELSHI: Well, maybe the federal government will pay hundreds of billions of dollars.
Whether it\'s your salary, your house, or even your commute, which part of the money will have an impact on you and which part will really affect you?
We are talking about economic stimulus here.
Actually, this is your rescue plan.
For you, it could be a relief to the economy.
Harlow and Steve Hargreaves said in the poppy.
Com has a little talk here.
Poppy, you know I find this interesting because people have been talking about where my rescue plan is.
But that\'s basically what this big stimulus should be, either giving you a job or getting some money out of your paycheck.
Harlow, Yu Mei, said.
COM: billions of dollars were proposed.
In fact, as we saw last year, there was a stimulus check in some form of tax refund, which was $144 billion in the House version.
It doesn\'t work, I remember.
Harlow: about two minutes.
VELSHI: So there will be a part of the money going to people and a part of the money going to taxes.
For example, how does education affect people?
Steve Haggs CNNMONEY
COM: many of them are carried out directly in the form of aid to the country.
How will this appear, will you not raise the state tax, or will you not see a reduction in the service of the school.
A large part will be used to build schools.
Romans: this is probably something you don\'t see in these cases.
This could mean they won\'t cut jobs, or they\'ll be able to keep the gym open over the weekend, like that, right?
VELSHI: There are a lot of things in this package that may help you when people say where my bailout is, but will not come to you as a check.
Harlow: but this is the case.
Many Republicans, of course, do not agree with the House bill, which they are clamoring.
A lot of people say, good idea, but money is really allocated to really take effect in two, three, four years.
What about the stimulus we need now?
They say it\'s been too long and there\'s nothing different. This government says they will change the status quo.
Many people say we need immediate results.
VELSHI: the direct trend in employment is to play a role.
In terms of employment, the expansion of unemployment benefits, health care benefits and cobra benefits were discussed.
This will stimulate the economy.
We had a guest earlier saying that it would allow people to stop paying more for health care and enable them to spend the money elsewhere.
It will also provide a much needed safety net.
People lose jobs in a recession and you need to strengthen them.
Romans: unemployment relief, health care benefits and food voucher programs add another $43 billion, and we\'re also talking about infrastructure work, and we\'re talking about shovels in ground projects.
Internet infrastructure and schools-
School and Hospital technology, infrastructure, many different ideas.
Harlow: a wide range.
The collapse is not just a new bridge.
There are many new bridges.
Its light rail.
Steve and I were talking about it before we got on the show.
Maybe there will be wi in your town-
Fi or walk into the post office and see them put the new light bulb in or do it again.
While you may also receive it, it may not be a check to your home, but it will be something around your community.
Romans: I\'m asking economists. These are long-term projects. We need something.
What economists have told me is that we have a long-term problem that we may have a weak economy in the foreseeable future.
So the fact that we are talking about long-term projects shows how deep the problem is.
What is the most direct question?
We need to feel right now, but in the long run, this may be what we need.
It would be interesting to see how this pear came out.
As Poppy said, the issue is opposed by Republicans.
What will this bill look like in order to get everyone\'s support?
Harlow: I don\'t think there\'s anything to support.
But to get the support of most people, I think it needs to have a lot of concrete examples of what we\'re going to do for everyone who needs it next year.
It must be a little more specific.
I think Republicans say we know it\'s going to pass, but we want some answers.
Hargreaves: you will see more forms of tax cuts and you may see more targeted projects.
There is a lot of money for these infrastructure, a lot, a lot, $30 billion is just for roads.
Some people feel uneasy about it.
They said it was supposed to be--
The money will turn us into a green economy.
VELSHI: The amount is small, but there is $10 billion in public transport and a lot of other stuff.
Romans: it will be a battle.
I mean, everyone will want something, everyone will think that something else works and it will be fun.
OK, Steve hargref and Poppy Harlow thank you very much.
OK, make sure you\'re here with us every week and we\'re here to talk about these things.
Your money at 1: 00 on Saturdaym.
On Sunday, CNN reported.
VELSHI: stay with the CNNmoney team every day to get the latest news about your money and log in 24/7 to cnnmoney. com.
Have a good weekend.