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Deficit, unprecedented, that they added to it and thought that that would work both politically and economically rather than saying this is tough, we don't have a magic solution for the first year or two, but what we do need to do is have a solution for years 3 through 10 based on real investment and the real need for u.s. competitiveness. that's what has been missing. >> jeff, stay with me. we will be right back in a moment to talk about the fires and floods and intense heat much of the world has been seeing. is it global warming? >> when we had gasoline of $4 a gallon, we reduced our consump...

And so we need a complete overhaul of the energy system. it would also be human investment, human capital in more spending on higher education, training, research and development. >> now, the argument against that, i assume, is that you would have -- you would be allowing, you'd be countenancing a long decline, or in the short term there would be jobs lost. in other words, by not shoring up the system you would be accepting high unemployment and slow growth. >> i think that's exactly right, that i believed that there was no magic solution. at the beginning i said the unemployment rate could ge...

Deficit, unprecedented, that they added to it and thought that that would work both politically and economically rather than saying this is tough, we don't have a magic solution for the first year or two, but what we do need to do is have a solution for years 3 through 10 based on real investment and the real need for u.s. competitiveness. that's what has been missing. >> jeff, stay with me. we will be right back in a moment to talk about the fires and floods and intense heat much of the world has been seeing. is it global warming? >> when we had gasoline of $4 a gallon, we reduced our consump...

>> any oil left behind on the water or the sand. >> how it would be deployed. the amount of product that would be necessary. where it could be deployed that wouldn't damage the marsh grasses, et cetera. those are all questions and challenges to be answered. >> reporter: sisson now spends much of his time away from his connecticut headquarters and on scene in the gulf. >> i consider new orleans my home. the gulf is the most wonderful place in the world to me. and i've never seen it like this. >> reporter: coast guard officials say there may not be a magic solution for the oil spill, but they wa...

You disagree. fine. around the world there are countries that have offered to help, companies, saudi arabia said they would send expertise immediately. we rejected all of it. the only thing that they done is they have complain and finger pointed, this is unbecoming of you to try to blame republicans for this. the president is supposed to do certain things. he's not doing what he is supposed to do. in the area he is supposed to such as protect the borders or protect the -- >> eric: if i can interrupt, it seems a bit unfair to say he's done nothing to set the record straight. let me change it to...