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austerity and fears of a meltdown. looking ahead to the rio environmental summit, a sharply contrarian take from someone who says the whole thing is a waste of time. finally -- >> i am for free press, fair elections and equal rights for women. i can't say that. >> what in the world? "the dictator" might be a fun movie, but dictators in real life are getting smarter, sav savvier and less authoritarian. but first, here's my take. we're now in the general election campaign in the united states. the point at which the candidates are meant to pivot from the primary voters to the general...

boris johnson, the mayor of london. he has a surprising message on the euro and on republicans. we'll talk about the olympics, of course. then, economics. a sharp discussion between two great scholars. robert skedelski, rbiographer o the euro, austerity, and fears of a meltdown. looking ahead to the real environmental summit, a sharply contrarian date from someone who says the whole thing is a waste of time. finally -- >> i am for free press, fair elections, and equal rights for women -- i can't say that! >> what in the world? the dictator might be a fun movie, but dictators in...

Martha: that's right, rick. stuart varney joins us from the fox business network. stuart, explain these numbers for us. >> the raw dollar numbers lay out the level of wealth destruction. if you go back to 2007, add up what the median family was worth in dollar terms. the number is 126,000 bucks. fast forward just three years to 2010, and that number was all the way down to $77,000. that is the median family's net worth. that is the destruction of wealth on a scale we've never seen before. it takes us all the way back to the levels of 1992 median family wealth. and it means that an entire gener...

News that facebook had bought the company. not all of them favorable. now in dollar terms, this is, by far, facebook's biggest acquisition to date. and it's the silicon valley dream. smart people rewarded for great ideas. and these days, mobile is king. but a billion dollars for a company that has no revenues? even in this new economy, it's bound to raise some eyebrows. david wright, abc news, los angeles. >> i will suppress my jealousy long enough to share one incredible statistic here. on average, 250 million photos uploaded to facebook every day. this seems to be a brilliant partnership. >>...

>>reporter: it is not just the tax hikes that republicans object to saying hundreds of billions in save insurance from ending the wars in iraq and, are afghanistan or not savings and the debt will rise $7 trillion over the next decade. >> dead on arrival? it is dead on arrival that is what we are seeing. this is an ambush budget. the president is ambushing the american people. >>reporter: in february of 2009 the president promised to cut the deficit in half by his second term and this does not do that in dollar terms but it does cut the deficit in half as a percentage of g.d.p. >>shepard: they...