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Rating. a gallup poll with disapproval of government at 81%. just came off a midterm election, biggest in 70 years, the numbers don't look for the president, and tim geithner is defending the cost by a harvard economist that this jobs program he's advocating, we're paying $200,000 per job, karl. >> yeah. and look, i mean, that's the one-year cost to the job. i mean, how much is it going to cost to sustain that job next year if it's dependent on government money for its creation and sustenance? >> look, we tried this. we can't spend our way to prosperity. we did this in 2009 with an $862 billio...

Rating. a gallup poll with disapproval of government at 81%. just came off a midterm election, biggest in 70 years, the numbers don't look for the president, and tim geithner is defending the cost by a harvard economist that this jobs program he's advocating, we're paying $200,000 per job, karl. >> yeah. and look, i mean, that's the one-year cost to the job. i mean, how much is it going to cost to sustain that job next year if it's dependent on government money for its creation and sustenance? >> look, we tried this. we can't spend our way to prosperity. we did this in 2009 with an $862 billio...

even get back to it. it's moving probably 8, 10 miles an hour across the ground. so, you know, god help us. that's all. that's all we can do right now. [ sirens ] a whole different story in the east. remnants of tropical storm lee sweeping through the area. the storm left one person dead in mississippi, knocking out power to thousands all across the south. stocks deep in the red. the dow fell more than 250 points just after the opening bell. right now still hanging down. new concerns about europe's debt cries and the global economy weighing on investors. u.s. stocks plunged friday ...

tough enough to withstand another financial shock. >> i think they've injected themselves into a situation that's beyond their comprehension. >> plus a former fed boss paul volcker has a blunt message for the ratings agencies. quit meddling in things you don't understand. we have that candid interview in full. but first, though, we begin with the tide of debt that is causing problems on both sides of the atlantic. this of course with the results of the european banking stress tests out later on today. now, that is seen as one of the -- one of the most debted nations, italy, is of cou...

china's economy cools slightly, but still hot enough to beat the forecast. uk lawmakers close ranks to try and block news corp's bid for bskyb. first up though here in the italian capital, the government is preparing to speak to parliament for a marathon debate over the next couple days, designed to gain the necessary approval for painful austerity measures. these are ones designed to prevent this country from becoming the fourth eurozone nature to go cap in hand to the imf, the eu and the ecb. pauline. european stock market investors are watching italy's debt crisis very closely...