Unidentified Speaker, -

BILL --

GUEST, -

FOUR YEARS GOING FORWARD. I THINK OF THIS AS A FULL EMPLOYMENT BILL FOR LOBBYISTS AND LAWYERS FOR FINANCIAL FIRMS WORKING WITH THE REGULATORS TO ...

Unidentified Speaker, -

ENORMOUS RANGE OF THINGS. YOU CAN HAVE DERIVATIVES ON EVERYTHING FROM THE WEATHER TO THE PRICE OF SUGAR A YEAR FROM NOW. THE PRICE OF GASOLINE A YEAR...

Unidentified Speaker, -

WEEKS. ESPECIALLY WHEN ONCE THEY GOT INTO CONFERENCE AS TO WHAT THE FINAL LEGISLATION WOULD LOOK LIKE, MADE A DETERMINATION THAT WE'VE GOT TO FIGHT...

GUEST, -

IN THE WORLD BECAUSE OF THE SUBPRIME DISASTER BOTH IN THE STOCK MARKETS AROUND THE WORLD AND IN HOUSING MARKETS. TRILLIONS AND TRILLIONS OF DOLLARS...

Unidentified Speaker, -

HAD DESCRIBED. AND THAT'S, YOU KNOW, THAT'S AN IMPORTANT QUESTION TO DISCUSS, AND WITH RESPECT TO THE GERMANS. WELL, DR. CRUGMAN AND THE OBAMA ADMINISTRATION...

GUEST, -

AND JOB GROWTH BEFORE AND AFTER RECOVERY. WHAT DO YOU ATTRIBUTE THIS

GUEST, -

RECESSION IN DECEMBER, 2007, THE BEGINNING OF JOB LOSSES THAT ENDED UP AT 700,000 PER MONTH THE ECONOMY CRATERED ALL OF THAT DEMAND. $12 TRILLION WAS...

GUEST, -

YOU CONTRIBUTE? GUEST: IRREGULARLY. HOST:tN WE

GUEST, -

STANLEY, FROM SOUTH CAROLINA, GOOD MORNING. CALLER: I HAVE BEEN LISTENING INTO THE CONVERSATION. I BELIEVE THAT

HOST, -

GUEST: ON THE NEED TO SPEND TO BE ABLE TOfFILL THIS CALL -- I HAVE NEVER BEEN

HOST, -

ONE HEADLINE -- IT IS SPENDING ON LOCAL SPENDING PLUMMETED. THEY SPEND ON ROADS, SCHOOLS, ALL CONSTRUCTION PRODUCTS SO FAST THAT FEDERAL STIMULUS MONEY...

HOST, -

JENNIFER WHO TURNED TO TWITTER AFTER THE CALL IN ON THE AIR. [LAUGHTER] LAGUNA, CALIF., GETTING UP EARLY IS NEXT. GUEST:KEYNESIAN ECONOMICS HAS NEVER...

HOST, -

SPEAKING EASYGOING TYPES? WHERE DO YOU GUYS AGREE? GUEST: WE DISAGREE ABOUT THE ROLE OF GOVERNMENT RIGHT NOW. HE IS NOT AN IDEOLOGUE ABOUT THIS.

GUEST, -

GUEST: MOST OF THE PRESS HAS -- HOST: MOST OF THE PRESS IS REPORTING THAT THE DEFICIT IS THE WORST THING

HOST, -

FROM ASLAND, VIRGINIA. GUEST: I WOULD LIKE TO GIVE YOU A REFERENCE FROM A "WALL STREET

HOST, -

DEMOCRATS LINE. CALLER: I WANT TO COMMENT ABOUT THE ARTICLE ON THE WAR IN CONGRESS. I AM A VICTIM OF THIS WAR. MY UNEMPLOYMENT WILL

HOST, -

BOTH PARTIES CAN GET ALONG. GUEST: LETTING UNEMPLOYMENT INSURANCE BENEFITS LAPSE NOW WHEN THERE ARE FIVE UNEMPLOYED PEOPLE FOR EVERY JOB

HOST, -

CONGRESS THEY RESPOND QUICKLY AND POSITIVELY WITH NO AT -- AID AND THE DEBT IS $16 TRILLION AND GROWING. GUEST: I REMEMBER DURING THE BUSH ADMINISTRATION...

GUEST, -

THAT WOULD SAVE THE STATES FROM THIS PROBLEM. GERMANY DOES NOT HAVE TO WORRY ABOUT THIS IN A RECESSION BECAUSE THEY HAVE NATIONAL HEALTH INSURANCE. FRANCE...

GUEST, -

GUEST: FACEBOOK MAKES IT IMPOSSIBLE TO KEEP YOUR BIRTHDAY SECRET. IT SEEMS THAT EVERYBODY KNOWS THIS. THANK YOU.

HOST, -

BIRTH PAREN.

GUEST, -

BEEN RECOVERING FROM THE WORST FINANCIAL CRISIS IN 75 YEARS. WE LOST $12 TRILLION WORTH OF WEALTH THAT. HAS LED TO A DECLINE IN ECONOMIC ACTIVITY. YOU...

Unidentified Speaker, -

THERE WAS NOT STRONG ENOUGH OVERSIGHT ON WALL STREET. WE CANNOT BUILD A STRONG ECONOMY IN AMERICA OVER THE LONG RUN WITHOUT ENDING THE STATUS QUO. WE...

GUEST, -

ANY TREATMENT FANNIE MAE AND FREDDIE MAC WHICH ARE HUGE CONTRIBUTORS TO THE HOUSING BUBBLE AND THE FINANCIAL CRISIS. IT DOES NOT TAKE A STRONG LOOK...

CALLER, -

SUBJECT OF INFRASTRUCTURE SPENDING. I SEEM TO SEE A RESISTANCE. TO THIS SPENDING. I HEAR THAT IT IS DIFFICULT POLITICALLY. I HEAR PORK SPENDING AND THAT...

HOST, -

CALLER: WELCOME TO YOUR GUESTS AND HAPPY BIRTHDAY TO ONE OF THEM

GUEST, -

MONEY AND WE KNOW THAT IT CAN -- BY SPENDING THAT MONEY YOU KEEP SOME PEOPLE EMPLOYED. THE QUESTION THAT WE WANT TO KNOW IS WHETHER WE ARE CREATING SOUND...

GUEST, -

LOT OF FEAR MORE DURING -- THERE IS A LOT OF FEAR MONGERING BUT WE'RE NOT CLOSE TO THAT PROBLEM. OUR DEFICIT RIGHT NOW, HALF OF IT IS BECAUSE OF THE RECESSION....

CALLER, -

BIRTHDAY PRESENT IN THE STABILITY OF THIS DISCUSSION. I DON'T KNOW WHY WE CANNOT ACHIEVE THAT MORE NATIONALLY. I WAS ALWAYS PLEASED WITH MR. FRATTO WHEN...

HOST, -

GUEST: THAT'S WHAT I WAS GETTING AT EARLIER. THERE ARE SOME QUESTIONS OUT THERE -- WE

GUEST, -

OR THAT INDIVIDUAL EXTENSION OF A PROGRAM WILL ADD TO THE DEBT OR THE DEFICIT. THE PROBLEM IS THAT WE NEED TO LOOK AT THE GOVERNMENT IN TOTALITY AND NOT...

HOST, -

YOU CANNOT COMPARE THEM TO THE

HOST, -

THE REPUBLICAN LINE FROM INDIANA, GOOD MORNING. CALLER: THANK YOU FOR TAKING MY CALL. I AM A CONSERVATIVE, FAR RIGHT KIND OF FELLOW

HOST, -

MANY YEARS. WE GET INTO THESE LITTLE

GUEST, -

ADMINISTRATION BACK IN THE 1800'S WHEN THE GOVERNMENT -- HE SAYS THE GOVERNMENT DOES NOT CREATE ANYTHING. THE GOVERNMENT ACTUALLY FUNDED THE ENTIRE DEVELOPMENT...

CALLER, -

THERE ONE QUESTION. IF THE GOVERNMENT DID NOT DO WHAT THEY DID WITH THE BANKING AND GENERAL MOTORS AND ALL OF THAT AND THEY DID NOT BAIL THESE PEOPLE...

HOST, -

AS THEY WERE WITH THE CUTBACKS IN BENEFITS AND SO FORTH? GUEST: THAT IS TRUE. THAT IS ALWAYS THE CASE WITH DISLOCATED WORKERS. WHEN THEY

HOST, -

GET UNEMPLOYMENT? GUEST: THE VIEW OF THE UNEMPLOYED IS WRONG. THEY ARE DESPERATE TO FIND JOBS. THERE ARE

HOST, -

MADE VERY, ACTIVE TRADER. I THINK IT IS ONE OF THE BEST WAYS TO STAY IN CONTACT WITH PEOPLE AROUND THE COUNTRY. I HAVE MET SOME OF THE VERY BEST AND...

HOST, -

GUEST, -

TO% INFLATION IS VERY LOW. THAT IS WHAT -- TWO% INFLATION IS VERY LOW. FOR THE LAST DECADE, INFLATION HAS AVERAGED LESS THAN 3%. GUEST: DOES NOT REALLY...

HOST, -

GUEST: IF YOU DON'T $900 BILLION -- IF YOU DUMP $900 BILLION INTO THE U.S. ECONOMY,

HOST, -

I AM A 55-YEAR OLD

HOST, -

DID YOU DO BEFORE THAT? CALLER: I WAS MAINLY GOING TO SCHOOL TO GET A DEGREE.

HOST, -

HOST: HOW MUCH MONEY OR YOU LEARNED BEFORE YOU WERE LAID OFF?

HOST, -

YOU GETTING ON UNEMPLOYMENT? CALLER: $360 PER WEEK.

HOST, -

HOST: WHAT IS YOUR AREA OF EXPERTISE? CALLER:

HOST, -

HOME.

HOST, -

11 CHILDREN. --TWO

HOST, -

GUEST, -

RIGHT NOW AND 8 MILLION MORE FOR WORKING PART TIME. I HOPE ALL OF THOSE PEOPLE WILL CONTACT THEIR MEMBERS OF CONGRESS AND TELL THEM THAT YOU CANNOT DO...

HOST, -

FRATTO IS THE FORMER PRESS SECRETARY TO PRESIDENT BUSH. PLEASE COME BACK AGAIN WE HAD HOPED THAT THE STATE SENATOR WOULD JOIN US TO TALK ABOUT THE ARIZONA...