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Renaissance. >> i think if you look at the job creation numbers over the last year, 18 months, it's been clear that we've seen steady growth in manufacturing jobs. you're here today in a facility that has -- is proof that there is a bright future to american manufacturing. >> ed, here's the thing our viewers need to know. manufacturing output is actually up after years of declines, up for the last few years. it's not actually resulting in proportionate growth in manufacturing jobs in america, which is what most of my viewers will be interested in hearing. are we getting jobs out of this? >> we...

Mentioned, a host of others, and basically looks at the arguments there and discovers that they're very much exaggerated, that there's reason for optimism. and generally the reason people are pessimistic is because they focus too much on what's going on in washington, d.c., where nothing is going on, right, sort of political gridlock, and focus too little on what's going on in the rest of the country and in cities and states around the country, governors, mayor, state legislators are looking at these problems and coming up with encouraging creative solutions to the sorts of things that we're u...

Example of this renaissance we're on the verge of, the storm stock market at report highs, but there are a lot of folks who say, look, the reason they're at a record high, three little letters, f-e-d, the fed. listen to what jim rogers said this week. >> if you give me a trillion dollars, i'll show you a good time, too. they're throwing money out the window out to the markets and it's going somewhere. >> so let's think about that for a minute. how much of this renaissance is being driven by the fed in the short term? talk about the longer-term investments we need to have a true american renais...

The jobs picture is improving. first-time unemployment claims are falling back to prerecession levels. last to the u.s. economy added 236,000 jobs. 36th month of consecutive private sector job growth. there is real reason for optimism. but i've also warned you about this -- dysfunction in washington threatens to trip our runner, the u.s. economy, just as it struggles to gain speed. which way is this thing going to go? christine romans is the host of "your bottom line." edward mcbride is the washington, d.c., bureau chief for the economist. ed, welcome to the show. you have written a special re...

You're here today in a facility that has -- is proof that there is a bright future to american manufacturing. >> ed, here's the thing our viewers need to know. manufacturing output is actually up after years of declines, up for the last few years. it's not actually resulting in proportionate growth in manufacturing jobs in america, which is what most of my viewers will be interested in hearing. are we getting jobs out of this? >> well, you have to, as christine just did, separate the short term and the long term. the special report that i've written attempts to look at the long term. i think i...