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From the recent rise in unemployment benefit filings, it's this, that america's recession is far from over. the down turn has hit many working americans hard, particularly white collar men in their 40s. experts say occupational optimism in that age group is low. the magazine's latest issue addressing the subject called "dead suit walking" in "newsweek," the co-author of that article joins me now. so, tony, i know it's the punch line called the beached white male but explain to us what you were able to find through your reporting and how tough this is for college-educated white guys. >> all thi...

Point, it would amount to $115 billion over a decade. but raise taxes by that same amount, 1 percentage points, and it comes to just under $500 billion. cnn money says there are other reasons why the richest americans cannot generate the kind of revenue that is needed. >> the income of the very wealthy tends to be more volatile than the income of most people because it's tied up with investments and when the economy goes south, often their income gets hurt. so you're not going to get as much revenue from them as you might expect, especially when you need it in a down turn. and, two, there are ...

>> well, it's hard in the middle of this chaos to assess the broader economic issues that come as a result of this. but, look, this economy has been rising since march of '09. we've had, you know, perhaps too much stimulus in terms of government intervention, that's being peeled back or will be peeled back. i think that it's, it's way too early to say that the events in tokoyo, the events in the middle east, in north africa will propel us into another down turn. >> neil: look, are you running for mayor of new york? >> i hope so. >> neil: really? >> i hope so. >> neil: so it would be you and el...

In virginia and los angeles county, california. and help with the rescue effort from the earthquake and tsunami so they'll be there on the ground soon to do just that. well, all of this has really got back to the age old question what causes this. this didn't lake long. within hours of the disaster striking, and the top officials blaming japan's earthquake on global warming of the european economic, some effects of island have hit and mother nature has given us the signs and an academic all around expert. what do you make of this. i'm surprised it took as long as that argument to be made, but ...

As the entire federal government when ronald reagan was president in 1983. that's how much it is out of control. that's why those who want to go back to 2007 as a benchmark are on the right path this is too big a government. it needs to be shrunk this year. and the time to turn it around is now. >> sean: one of the few economists that predicted this down turn, he called this freeze spare change. if you are not going to deal with real entitlement reform how do you get to a balanced budget, especially at the high bar he has now raised in terms of new spending? >> the difference in tone and appro...