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Going through a grocery line that inflation is also 9% in the u.k. or 8% in other european countries. and so this has been a top priority for a long time. what the secretary said was that some of the continuation was unanticipated. as we saw that, we of course made adjustments. i think the federal reserve is making adjustments, too, to tam manytamp down on inflation. one of the things you ve seen the president start to emphasize since we ve seen the inflation be more sustained is the idea of bringing down the deficit. remember when you re trying to jump start the economy, you increase the deficit, give it stimulus. when you re trying to dampen inflation, you pull back. we re down $1.5 trillion and the president is proposing a minimum ....
Democratic party. well, i think we have to take account of what is happening in the economy, and i would separate the infrastructure from the stimulus. the real intent is to shore up the basic building blocks of our economy of roads, bridges, highways, and rail and broadband. it will stimulate jobs and the economy, but this is this is a one in the a generation paying down of deferred maintenance, if you will. so getting the infrastructure package done is the first job. and then we can talk about what additional stimulus or indeed, is it stimulus or simply shoring up some places that really need help like homecare, childcare, and those kinds of things. one of the reasons people are not going back to work is a lack of childcare. if you have a 7-year-old and a ....
Didn t get the message. the president s reset policy has been an abject failure. so that is of course the political context in which all of this is happening. speaking of the political context, the g-20 and europe, they re basically kicking the can down the road saying to the europeans deal with this one, you all meet at the end of the month. well, which was what we were warned was likely going to be the case. this g-20 was set up in part, the assumption was answer sort of the global recession worries, if you will, and there s going to be a statement about how all of the g-20 member nations, the noneuropean ones, are going to be focused on growth policies with a balance on fiscal, so sort of the obama administration is saying hey, it s more like our outlook of how you deal with a slowdown. don t cut too much too quickly, try to do some stimulus, don t call it stimulus, but you re right, in as far as the european ....
There s not. let s not forget, there are things on the table, as he would say right now that could be cdoe that s being stalled in congress. but he s talked about infrastructure spending, and everyone here in this town knows they call that stimulus. they call it stimulus and that s a dirty word here in this town. and in america. so call it something else. i mean, if it s about a word change, we can do that. but do republicans have an incentive to work with him now or see a political incentive on capitol hill and say, ah, forget it. i think what republicans see, they have a job to do, they want to make certain that they are, number one, recognizing that mitt romney is now the leader of the party. number two, they, when you look at voters across america, they have to show some effort to work together to get things done, but still hold true to their principles. so they have a difficult balancing point as well. he made the point in september, though, bob, linda, karen, stic ....
indeed. thanks, stu. coming up on the show, the president is supposed to tell us this week how he plans to pay for this massive jobs plan. is it starting to sound like a second stimulus? our washington insiders up next. they can t call it stimulus. i m not really sure. she didn t win but she certainly stole the show. wow, serena williams finds a new opponent. the ref, the ump and she didn t let up. wait until you hear what she said next. the mystery spot . ....