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>> the best part of the job is coming to places like this, right here in iowa where you can talk to everybody and everyday americans. there's plenty of fear and anger right here in america's heartland and indeed across the country right now. i sat down with the president just a little while ago for an in depth interview about job, the economy, the 2012 campaign. the war on terror and a lot more. specific about the short-term plans for boosting the economy and how it could make or break his reelection campaign. >> you said if you don't turn around the economy in three years it's going...

Habitually, how do you disrupt industries and create new ones? health care is a new industry. >> how, give me specifics. >> mobile health where can you use your phone to track different things, calories and walking and tie that into a database that reminds to you do certain things and tie that in with a community of other people with a shared interest in dealing with that and trying to stay well or dealing with a serious disease. there's a lot of ways that technology can -- can help do that. we're also seeing a lot of momentum in the commerce area, including retail, supporting main street merc...

Proposing a bold new plan, calling for $500 billion in cuts. steve moore is senior economic writer for the "wall street journal," he joins us live. good to see you, steve, good morning. >> good morning, rick. rick: everyone has been wondering from the new republicans where are you going to cut, where are you going to start, give me specifics, and here this morning on the editorial pages of the journal we hear from senator paul and here's what he has to say. let's put a couple of them up and talk about what his ideas are, starting with education. he wants to eliminate the department of educatio...

The people. >> who is to blame? some of your critics say you're applying that rush limbaugh or glenn beck or sarah palin may have created the environment that led to this massacre. >> well, i think all the flame flowers are responsible. >> give me specifics. who? >> well, you mentioned two of them. i think people who come out and call for people to take the second amount up in order to resolve certain problems, those statements are so vitriolic, and i can't tell you how vitriolic the campaign we against the tea party candidate that ran against giffords. it's getting sickening. i've seen the la...

But you have them costing $1.3 billion. they have to do something and arizona legislature says the federal government hasn't been protecting us so we have to do this. you answer? >> you don't throw out civil liberties because you have a major issue, a major federal issue and you don't vulcanize the united states of america because you have a crisis. >> bill: what would you do if you were the governor? >> the governor of arizona, if you are the governor or other border states, you have to seriously question congress and question the obama administration and the prior administration because of t...