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who's cnbc's chief washington correspondent. john? sorry, i guess we don't have john. let me bump to mark our chief economist at moody's analytics. let's start with where this market puts the economy. what does this tell us? are we in danger of a double dip or is there something, are there bright spots that can be taken from the report this morning? >> reporter: well, i think it indicates that the economy's very close to going back into recession. so-called double dip. i don't think businesses have started to increase their layoffs yet. that would be a recession. that certainly have ...

little to no interest in baseball. . and remembering betty ford. the former first lady's casket leaves california to her final resting place in michigan. good afternoon. we go to the breaking news out of mumbai, india. three explosions have killed at least 17 and injured 81 more. the first terror attack since the attacks three years ago. mumbai's police commissioner says one of the bombs was ied placed inside an umbrella. in washington both parts are gaping the politics of republican senate proposal from mitch mcconnell that would give president obama the authority to raise the d...

here is a live look at the bay bridge toll plaza, if you are headed into the city, no delays and metering lights are off. wednesday morning, good morning. thanks for joining us, i'm kristen sze. >> i'm terry mcsweeney. a rescue may be fading for seven california men tossed into the waters after their fishing boat capsized. the mexican navy is helping search for the men. amy hollyfield has the latest. >> good morning. there is hope and there is reality and families are dealing with the mixture of the two as they wait. coastguard search has already covered 1400 miles. mexican officials...

>> rare weather brings tragedy to the new year. 20 tornados tear up the midwest and flatten entire neighborhoods. is the wild weather over? we'll find out. fox and friends begins right now. ♪ >> put on the hat, clayton. happy new year. >> happy new year. we were in bed by 8:00 p.m. >> you didn't party. >> not like all of the crazies. >> we had to drive through it this morning. >> thank you for waking up. my pledge to you. if you stick with us for the next hour we'll be awake by the next hour. >> next four hours, 9:50 we'll be up. >> my pledge to you. >> lots of coffee and red bull....

and good morning, everyone. live from studio 7 at cnn world headquarters. cnn begins a week-long focus on fixing our schools. a whistle-blower exposes graud at head start programming. >> reporter: the whistle blower was complaining that head start workers were letting people into the program who made too much money to be eligible. >> we asked students to spell out the essentials of a good school. >> without good teachers and education, what is a school? and a mound of trouble for retired major leaguer roger clemens. he'll be arraigned this afternoon. i'm tony harris. those stor...