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What make the economy move. and if this budget problem eventually merges to the point where it begins to become very toxic, it will be reflected in rising long-term interest rates, rising mortgage rates, lower housing. at the moment there is no sign of that because the financial system is broke and you cannot have inflation if the financial system is not working. >> mayor bloomberg, let me talk about the tax cut debate gripping washington right now. political stupidity u.s. style is the headline. can a nation remain a superpower if politics are stupid? start with taxes, he writes. in every oth...

You can't treat your grandchildren fairly when you're only bringing in less than 15% of gdp and you're spending over 20%. it's almost criminal what the republican party is willing to steal from their grandchildren and our grandchildren. that's the problem, brian. just because it's politically popular. >> let's go back to always spending. let's start by going back to a baseline that's defensible. let's take what's left of the stimulus and not spend it. let's take what's left of t.a.r.p. and not spend it. let's prove to the american people that we're willing to make the tough decisions. >> talk ...

This country. >> interest rates, how long before they start coming up? do they need to stay low? >> well, the problem there implies that government has control over those rates. i mean, the federal reserve and the treasury department, in a sense. there is no doubt that the federal funds rate, that is the rate produced by the federal reserve, can be fixed at whatever the fed wants it to be, but what the government has no control over is long-term interest rates and long-term interest rates are what make the economy move. and if this budget problem eventually merges to the point where it begins ...

The republican primaries, thus far, is that there is a lot of dissent, a lot of animosity, towards government in general, and that it is focused on republicans. but the most recent polls, particularly the gallup generic poll, jen kwrarbgs the one that says that right now most americans, given a choice, would prefer a republican in congress. and the president's approval ratings is plummeting. so the idea that democrats would like to blame the current economy and the budget problem on the past administration, two years into the presidency, it's a very hard sell. mid-terms tend to be about the wh...

Digital electronic license plate. for an old reason. they need money out there in california. the state has $19 billion of debt. state senator price joins us live from los angeles. thanks for joining us, sir. first, let me ask you the obvious. your state has an 11-digit debt and you are talking about making money with license plates? could you possibly make enough money to make a dent in that dent? >> not with the license plate alone. but if we started being creative and think outside of the box, ideas like this, have the potential of generating the kinds of revenues that could make a differen...