tv The FOX Report With Shepard Smith FOX News August 5, 2011 4:00pm-5:00pm PDT
and with tim pawlenty about the iowa debate and straw poll. keep it right here on fox where more news is always on the way. captions by closed captioning services >> harris: some not so bad news about the job market. >> things will get better, and we're going to get there together. >> harris: but everybody agrees we have got a long way to go. >> there aren't a lot of silver bullets on economic growth. >> tonight, what the president says we can do right now. plus, the cult leader who claims it's his religious right to have sex with little girls. the jury didn't buy that. now it could put him away for life. and casey anthony facing a fresh round of legal troubles, but the judge says the case is a mess. >> if anything could go wrong, it went wrong here. >> could casey be headed back to florida?
i'm harris faulkner in tonight for shepard smith. we begin with another gut twisting day for your 401(k). just a day after stocks posted their biggest drop in years it was whiplash on wall street. the markets swinging wildly as investors first reacted to a better than expected jobs report. the labor department reporting american companies added 117,000 jobs last month. you can see here that's better than the previous two months but still below the hiring levels we saw earlier this year, in february, march, and april when investors were still optimistic that the recovery was on track. the additional jobs did help lower the unemployment rate from 9.2% to 9.1%, but, again, that's well above the levels we saw above the great recession. after falling nearly 2 straight weeks, stocks soared at today's opening bell. the dow up at one point 170 points. and by noon it had plummeted down 240, then back up, then down, and finally settling, settling in positive territory.
the dow jones closing up just 61, the nasdaq off by 24. the s&p 500 was just about even on the day. our neil cavuto is live on fox top story tonight for the fox business network studios. neil, clearly investors are skiddish about the economy. the question is what are they focusing on that has them reacting this way? >> you know, harris, i love to come on and talk to you, i don't know. i really don't know. i will tell you why not to be a skate here. this was not a great number. i know people were clinging to this 117,000 job gain in the latest job report saying hay we are back, things are looking wonderful. that's not good at this stage in an economic recovery, harris, when we are right now in the 25th month of it, you should be seeing job gains north of 300,000 a month. so, this is not great. what's more, we were actually bragging about prior data revised up in the 50,000, 46,000 neck of the woods. i mean, that was analogous back
to me in school warning my parents that i was going to fail everything and then have them think i was einstein if i got a couple of d's. i was still a pathetic student. the fact of the matter is they thought because i was going to fail everything that the d's were a sign that i was going to go to the next minutes is a picnic. sour. -- sorry. far from alleviating concerns we were going to go into a slow down. reminder that we are. not all the data. a good deal of it though is at the very least showing a marked departure from highs. you have got a lot of that. i don't want to bore you with all of it, but suffice it to say from g.d.p. data that's oftenning. factory data that is going south. consumer confidence numbers going south. retail sales numbers going south. consumer spending now in reverse, you add that all up, how can you have much growth in that. then, if you are a ceo, think about it, would you want to hire people in that environment when you are not sure what that
environment will be? >> harris: neil, if you have a 401(k) and some americans do, it's how we save when you don't have more than a little nugget. i have got to ask, what is next? is this going to get uglier on wall street when markets open on monday? >> it's hard to say. we have a lot of things that market, weak talk. wink wink s&p, rumored in the markets this week to maybe announce a credit downgrade this weekend. it's hard to say. this much is very, very clear. it might be a moot point regardless. it is pretty clear that not only our country but a whole lot of other countries and italy was front and center today, has some problems with money and a lack of it. and even if you have the wherewithal to lend money, a european union officials are looking at a lot of sick pups, italy, portugal, spain and ireland and a host of other countries that are itching for cash. and the european union is
saying, you know what? we can't help you all out. that's the next problem. i don't know when or where, but that's the next biggie. >> harris: neil cavuto breaking it down for us like only he can thank you so very much. you can catch neil tomorrow for two-hour special. it's called on the brink, answers from the abyss. you don't want to miss this. tomorrow 10:00 a.m. eastern right here on fox news channel. well, president obama admits we have to create more jobs, a lot more jobs each month to make up for the millions of lost ones since the recession. he claims there are things congress can do right now. mr. obama calling on lawmakers to get started when they come back from vacation in september. >> extending the payroll tax credit to put $1,000 in the pocket of the average worker. extending unemployment insurance to help people get back on their feet. putting construction workers back to work rebuilding america. those are all steps that we can take right now that will make a difference.
>> house speaker john boehner saying, quote, today's unemployment report is more proof that all of the washington spending, taxing, and regulating is devastating our economy, end quote. chief white house correspondent ed henry live on the north lawn joining us now. ed, as neil cavuto just mentioned moments ago, there are reports that the credits rating agency s&p may be getting closer to down grading u.s. debt. >> yeah. absolutely. abc, cnbc suggesting that this administration is expecting a downgrade from standard and poor's. nothing has been made official yet. i think as neil was just pointing out, the market has already taken some of this into account whether there is technically a downgrade or not, there has already been intense pressure on this administration, as well as the congress, to do more about cutting u.s. debt. that debt deal that everyone made such a big deal about earlier this week it was finally forged. a trillion dollars in cuts up front. maybe a trillion and a half more a few months down the road. although that is not certain. the market has essentially said that's not enough. so we are waiting to see whether
s&p will actually say that we should point out that fitch and moody's other ratings agencies have said they are keeping u.s. status a.a.a. rating so that at least that has already happened. harris. >> harris: yeah, that's a good balance and perspective there on that, ed. you know, i can't imagine the president spent this friday without keeping one eye on wall street and what those numbers with the dow were doing. i'm curious though, what was his reaction to the jobs numbers? >> well, i think he was trying to say, look, there was a high expectations that this number would be awful. especially after just a string of bad news, whether it was on consumer spending earlier this week, economic growth weaker than expected last friday. a lot of people on wall street and main street, frankly, were bracing for this new jobs number. what the president was trying to say, look, unemployment coming down from 9.2% down to 9.1 at least is a step in the right direction. more than 100,000 jobs were created. another positive step. he was also very clear in saying there is a long, long way to go.
take a listen. >> my concern right now, my singular focus is the american people. getting the unemployed back on the job, lifting their wages, rebuilding that sense of security, the middle class has felt slipping away for years. and helping them recover fully. >> now, the probable for the president, of course, he has talked about a singular focus on jobs for nearly three years now. even with some slight good news today, unemployment is still at 9.1%. that puts his re-election in serious jeopardy of course, harris. >> harris: neil cavuto really teed it up for us very well. he also brought up something else that he thinks is going to happen next. that is dealing with the economic crisis that exists globally. i know the president was on the phone today with european leaders. >> he was speaking to the french president nicholas sarkozy as well as angela merkel. they spoke about noting the significant steps taken at the july 21 summit of leaders in the
euro area. they welcomed the leadership of sarkozy and angela merkel facing the europe's economy. the white house has been trying to stress this is not just about u.s. debt, about the stock market and the jobs. it's the european crisis that's spread over here. huge impact on the markets right here, harris. >> harris: money, the big talk all across the world and all across this country. ed henry investigated to see you. thanks very much. he claims god visited him in jail. now a polygamist leader could be spending a whole lot more time there. a jury convicted him of assaulting two young girls. tonight a panel debating his punishment. days just after hurricane katrina police officers accused of shooting and killing unarmed people and then trying to cover it up. nearly six years later, we have a verdict. plus, we're following a developing situation right now at philadelphia international airport. you are looking live, passengers have just been evacuated from a plane because of some sort of
>> harris: a fox urgent now on a developing situation at philadelphia international airport. let's look live now where officials have just evacuated a u.s. airways threat due to some sort of threat. the t.s.a. had everybody everybody get off that plane to allow law enforcement to investigate. a bomb squad is also at the scene inspecting luggage. sources telling fox there was a threatening note found on board but so far no specifics to tell you about on that yet. we're told the plane had just arrived from scotland and being turned around and prepared to depart from anchorage with 163 people on board. updates as we get them on this situation. >> that warning from warren jeffs himself who today walked out of a sentencing hearing in
protest. after a jury yesterday convicted him of sexually assaulting two girls as young as the age of 12. he is now in court custody and facing 117 years to life in prison. jeffs has been representing himself during his trial. he claims he is a religious prophet and has thousands of followers. he admits he has 78 wives, many of whom prosecutors say are underage. but he argues polygamy is within his religious rights. alyssia acuna our correspondent live with more. i have read the prosecution has so much on this man, sentencing could take us into the next week. >> that's what they say, harris. prosecutors today told jurors that they have a breathe-taking amount of evidence against jeffs and that they are going to hear about crimes that jeffs wasn't charged for or even convicted of. so much so they say they might not be done until next tuesday. jurors are expected to learn about 300 families jeffs broke apart by reassigning wives and children to other men. in addition to overseeing
hundreds of big mist marriages. jeff's defense team making the argument was born into and groomed to lead his cult. a true believer in his religious conviction. on the stand right now is a former jeffs follower who is testifying that when she told jeffs she didn't want to marry him he told her, quote, i will break you, hairs -- harris? >> harris: followers, he still has them. what happened to those people if he goes to prison. >> 10,000 people across the country consider jeffs their prophet. 55-year-old man actually inherited the church from his father. when he did so, he also married almost all of his dad's 22 wives. reports are that while jeffs -- warren jeffs brother will follow in his footsteps. the question is now whether those 78 wives go with him. >> harris: alyssia thank you very much for the latest on that. jury convicting five current new orleans police officers for their involvement in a deadly shooting and its cover up.
it happened in the days following hurricane katrina. according to prosecutors, at least four of those officers opened fire without warning or reason on six unarmed civilians who were reportedly trying to flee the chaos in the flooded ste city. it happened on the now infamous dan sanger bridge. one many reportedly handicapped they did not do so willfully, in other words with evil motive. for context here, they were responding to an officer down distress call on the bridge. witnesses say instead of fully assessing the situation as they were trained to do, they just shot at innocent people. listen here. >> the vast majority of those men and women in blue out there
who sacrifice every day do precisely that they put the safety of the citizens ahead of everybody else. these men did not. >> sentencing in this case, harris, is scheduled for some time in december. >> harris: you know, i had just said moments ago that one of the victims was shot in the back. what about the other victim. >> that victim you are mentioning is a 40-year-old man. the other was just a 17-year-old young man. he was actually shot twice with a shotgun, twice with an ak 47. and at least two other times with a handgun. that young man's mother reacted to the verdict and said this. listen here. >> it took the twinkle of my eye, the song out of my heart and blue -- blew out my candle. it's going to be all right because justice has been served. >> all of the officers in this case, harris, said they fired their weapons because they all believed their lives were in danger. >> harris: you can feel that mom's pain. the song out of her heart was taken. thank you very much, chris. as we all know by now, casey
anthony is a free woman after a jury found her not guilty of murdering her toddler daughter. will casey have to come out of hiding to serve probation for another crime? the latest from today's hearing coming up. plus, liftoff for a nasa space craft headed to our solar system's largest planet. what scientists hope to discover there straight ahead. >> and liftoff of -- with better car replacement, if your car is totaled, we give you the money for a car one model year newer. liberty mutual auto insurance. in one place. ♪ the front-row tickets you never bought.
2016. run entirely on solar power. a first for a space craft traveling far from the sun. named after the ancient roman goddess would pier through the clouds to watch her husband jupiter and now that's what juneau is expected to do. scientists saying it was probably the first planet to form in our solar system. could review veal how life on our own planet began. awesome. casey anthony, the convicted liar whose toddler died, we don't know how back in the news. the judge from her original trial making a ruling in a very different case she is involved in now. it has to do whether she must return in florida to serve probation for check fraud. as you may know, last month the jury found anthony not guilty of killing her 2-year-old daughter cailee. back in january of 2010 another judge sentenced her to a year's probation after she pleaded guilty to stolen checks. here is the problem. that judge ruled anthony should serve the probation after her release from jail or prison. but somehow those instructions
didn't make it into the written record and so now that judge has recused himself with no explanation. anthony's attorney claims his client already served the probation time while she was in jail and that forcing her to come out of hiding could put her in danger. phil keating live for more on this in orlando. phil, on this probation matter it appears that this judge strickland is versus everybody else. >> that is the way it was all set up here. not only did he recuse himself from probation issue. bang when attending the murder trial recused himself from anthony murder trial perceived bias against her. well, upstairs behind me today the judge then replaced him judge belvin perry and all the players from the summer's murder trial all back in the courtroom. this time the prosecutors and the defense team not battling it out. they are all in the same side. them and the florida department of corrections all believe casey anthony should not have to serve this probation and even judge perry seems perplexed.
>> this is a legal morass that, if anything could go wrong, it went wrong here. >> yes, your honor. >> and i don't know what i'm going to do. judge strickland out in court verbal, oral opinion that she should serve the probation out of jail. versing the sentencing document itself which does not have that written in black and white. judge perry plans to read more on this over the weekend and decide whether she has to do probation report back to orlando next week. >> you know, if she does have to do that probation and her name gets made public because that's how it is for everybody else, then she has to come out of hiding to do that. so on and so forth. you have these death threats against her. how serious are those detectives, do we know?
>> they are serious enough not only did the defense team present evidence, a photograph they received showing a picture of casey anthony with a caption that said keep smiling with a forehead that big it will make for an easy head shot. even judge perry concerned verbally today in the courtroom about the safety if she has to come back here to orlando. she will be walking right in front of all of the cameras, if she gets this probation she will have to report once a month and subdue herself to random spot-checks. the question for the judge here is been accounted for bond or whether this is a done deal and whether casey should be left alone. >> the drama around this woman continues. phil, good to see you, thank you. today's unemployment report showed companies are adding more jobs but it also contains very troubling news. a live report on that coming up. plus, the bus pulled up to the stop. that's when the people were waiting there pulled out their guns. all caught on video.
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9.2% to 9.1%. it was thanks in part to companies adding more jobs. it also had something to do with this. more americans simply gave up looking for work. the labor department keeps statistics on so-called discouraged workers. people who want a job but aren't putting in applications because they don't believe there are any jobs available much the department does not count them as unemployed though. as you can see, number rose by 14% in july. second straight monthly increase after falling this year. jim angle is live for us in d.c. jim, it seems like more people are being just simply left out of this job market. >> that's right, harris. the unemployment rate dropped in part because while 117,000 jobs were created, some 200,000 people just quit looking and, therefore, weren't counted. listen. the reason that the unemployment rate dropped is because you had an even greater number of people drop out of the labor force. >> when the unemployment rate drops because of that reason, there is no reason to cheer.
that is not consistent with an improving economy. it's consistent with an economy that's stagnating. >> job scarce, more and more people are leaving the labor market. one group that the discouraged workers didn't think they could find one. others deciding the job market was so tight they would choose other options. listen. got people retiring early. couples -- one couple staying home with the kids instead of both of them working. people going back to school or starting graduate school. >> then will there are the underemployed taking part time jobs even though they would rather take full time. >> they have gone and taken whatever job they can to get some money coming. in many are working two and three part-time jobs. >> we may face those predicaments for some time if we don't great more than 117,000 jobs a month. one analyst says even if the economy were creating 175,000 jobs a month, the same pace from
the growth years of 2003 to 2007, unemployment wouldn't get down to 5% until 2018 harris? >> jim angle, thanks very much. less than 60 seconds and just two senators, that's all it took to get the f.a.a. up and running again. for now anyway. the standoff that shut down parts of the federal aviation administration for two weeks is now over. just on hold, maybe. chief congressional correspondent mike emanuel live from across the capital there. mike, if it was so easy to do, could happen that quickly, why didn't they do this two weeks ago. >> harris, the first priority was trying to do a longer termed deal which the f.a.a. hasn't had since 2007. in this package, democrats were worried about republicans cutting eas, the essential air service, a subsidy for small, rural airports that cost taxpayers as much as $3,700 per ticket. in the end, the transportation
secretary used his authority to strip that out of the deal. in a paper statement, president obama said, quote, this elm pass was an unnecessary strain on local economies across the country at a time when we can't allow politics to get in the way of our economic recovery, so i'm glad that the stalemate has finally been resolved. but this extension only funds the f.a.a. through september 16th. harris. >> so they stopped this by hitting pause. so will we see this again in september? >> well, that's quite possible. republicans don't want to keep doing these extensions. the deal passed today is the 21st extension and republicans are saying they don't want a 22nd. there are labor provisions in the larger bill which democrats do not like. today's speaker john boehner said, quote, moving forward, it's time for senate democrats to get serious about resolving the remaining f.a.a. issues, complete work on a long-term bill that can be signed into law and help this troubled economy, so expect more yelling about this very topic when congress
returns. harris? >> harris: washington the original reality tv program. thank you. >> thank you. >> harris: the u.s. postal service could default after losing more than $3 billion last quarter. he blames recession and decline and use of first class mail because of the internet. he says the agency may not be able to pay the more than $5 billion it owes to employee disability fund. the post master asking congress to change the law so it can stop making payments to that fund. postal officials saying they also want to cut mail delivery to five days a week. they are considering a plan to close up to 3600 post offices nationwide. well, at one time john edwards wanted to be president. now he has 90 days to pay the feds 2 million bucks. that's the ruling from the federal election commission. auditors saying edwards' 2008 presidential campaign under reported its cash on hand, overstated its expenses, and did
not itemize some payments. edwards now has 60 days to ask the fec to review the decision. is he also facing criminal charges of accepting illegal political donations. prosecutors say he used the money to cover up his affair with rielle hunter and their love child. edwards eventually confessed to cheating on his wife elizabeth. she died last year of cancer. he admits he has done wrong but insists he did not break the law. the united states army will soon trim its war tours for most units from a year to nine months. the army reporting the change will go into effect starting next year and will not effect any combat troops headed to iraq or afghanistan before that. we're told the goal is to give soldiers more time to spend with their families. the army also planning to cut more than 8700 civilian jobs over the next year and, of course, the move coming as the iraq war winds down and the u.s. begin as gradual withdrawal from afghanistan. well, authorities saying three teenagers won't be able to make the first day of school after
all because they were planning to shoot their classmates. now, they are in jail facing some very serious charges. details on that coming up. plus, flash flooding in the southeast sparking evacuations, rescues, and even causing some ceilings to hit the floor. live report from the extreme weather center when we come back. ouncer ] before you take it on your road trip... we take it on ours. this summer put your family in an exceptionally engineered mercedes-benz w for an exceptional price during the summer event. but hurry, this offer ends august 31st. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence.
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and so too is the summer event. now get an incredible offer on the powerful c300 sport sedan. but hurry before this opportunity...disappears. the mercedes-benz summer event ends august 31st. completely off guard. nearly a half foot of rain falling in just a few hours around charlotte leaving drivers to deal with what you see here and neighbors evacuating. take a look at video inside one hotel. the deluge too much for one roof. water pouring from the ceiling right into the lobby. rick reichmuth is live in the extreme weather center. how did this happen? >> you get so much rain falling in such a short amount of time. up to six inches and falling right across a populated area of
charlotte. that's what caused it. still some rain in the area. the most of that flash flooding is gone. rising in downstream rivers and streams. more rain to be had here throughout the evening hours. could be see be repeat of that. further to the south. >> amazing how one part of the country deals with one thing and then you have heat wave and drought conditions in places like texas. >> you said it take a look at radar pictures here. rain showers in around new new mexico. oklahoma, texas you can't get any rain at all. very significant drought going on exceptional drought. highest category there is no rain here. you factor in that and it's been so completely hot across the area for so long 106 still in dallas. 108 in oklahoma city. these temperatures aren't going to budge. it has been over 100 degrees. 35 -- 45 days -- 35 days in dal. overnight lows only getting down
to where a lot of people are for highs. no relief. probably break all kinds of records, records you don't want to see broken, harris. >> harris: no doubt. journalists of foxx fox news get right to the heart of the action. this was no exception. [thunder] >> all right. i'm done. >> that was a bolt of lightning coming dangerously close to a cameraman shooting the rough weather for fox affiliate colorado. you could hear him. he took that as a sign to head inside. the explosion one more time here. we are told he is doing fine as you might imagine. just a little freaked out. by the close call. sheriff's deputies arresting three teenage boys accused of planning a massacre at their high school on the first day of classes. officials saying they were part of a group called day zero. the plan was to bring guns and just start shooting at people. killing any police officer who
tried to stop them. investigators saying these kids also singled out at least one fellow student and faculty member on their so-called hit list. all three suspects are 15 years old and attend lake shore high school in suburban, new orleans. now face charges of conspiracy to commit terrorism. the sheriff says the kids have confessed but no word on why they wanted to commit mass murder. a bus packed with passengers with no idea they are about to make a terrifying stop. one that will have them running for their lives. look what was waiting for them outside when the doors opened. men with guns. one of them holding a large assault rifle. they opened fire, bullets flying through the windows. this happened in philadelphia. and apparently it was all because of some unwanted parenting device. details now. >> the videotape is clear from different angles and vividly illustrates the horror. a 20-year-old woman gets on a philadelphia bus with young son. the son begins running up and
down the aisles, grabs him and appears to slap him. the man behind her doesn't like it and threatens to turn her in to child abuse. can you he see the woman then makes a phone call. prosecutors say she is calling her brother to set up what happens next. the woman then gets off the bus with her son. prosecutors say the boy's uncle holds the doors open and then one of the brothers begins to open fire. then both begin shooting. from there, it is shear terror on the bus. a mom grabs her 4-year-old son and runs for cover. a man back by the door appears to freeze then slumps in his seat. and an 80-year-old woman doesn't know what to do. finally she drops for cover, seconds before a bullet flies directly over her head. other passengers run toward the front of the bus. they pile on top of each other. and the man who first criticized the woman for slapping her child appears to be the intended target, he ended up running and falling on top of a 4-year-old boy. finally the bus driver hit the
gas, and sped away. 10 to 15 people on board that bus not one of them hit by a bullet. the trial for the suspects begins late this month. harris. >> harris: trace, thank you very much. in a part of the world we are watching closely tonight. at least 100 people reported dead in syria after a brutal week of clashes. government forces opening fire on demonstrators in the city streets. [gunfire. >> this is amateur video. said to show gunfire near the capital damascus where activists say ten people died today. government reports calling this return return to civility now we can't confirm syrian government tight grip on flow of information in and out of its borders. chief fox report chief
correspondent jonathan hunt live in our new york city newsroom. jonathan, word tonight of some efforts by world leaders to step up the pressure on this president. president obama, harris, who spoke to the leaders of germany and france today, condemning what they all called the, quote, indiscriminate violence by the assad regime against their own people and also those three leaders discussing possible new steps to add to the pressure on president assad but the syrian president himself seems to be simply turning a death ear to the con -- deaf ear. preferring the deafening sound of the tanks firing on his own people, harris. >> harris: what else exactly county international community do tim. >> they are looking at more economic sanctions. those would probably come through a resolution of the u.n. security council. if the u.s. could get the russians on board, they have been reluctant so far. but there are experts, including christian white and the former
state department official who believes the u.s. should do much more, perhaps getting the cia much more involved. listen. >> we should get the cia back in the business of influencing political outcomes abroad and offer help, whether it's intelligence or resources to the opposition, to at least with them. if at the don't want to deal with us, that's fine. we should leave the door open. >> one option nobody is talking about right now is military action, harris, because given the failure so far of the so-called not war in libya, nobody wants to have any more military action in another middle eastern country against another dug-in dictator, harris. >> harris: two other wars, not to mention those as well. thank you very much. tragedy on a remote arctic glacier. mauling severe injuries. happened during a high end
adventure expay tuition in a place far more polar bears than people. the bear attack ad group of 13 before one of the campers shot and killed the massive animal. here's the father of one of the injured teenagers. >> try to kill a polar bear just before he killed it, apparently, the polar bear mauled him and he is really, really bad. got into the tent where patrick and this other chap and he just, for some reason grabbed ahold of horatio. >> polar bears are the world's largest land predators but we are told they don't usually hunt humans. wall street's worries casting new doubt on the economy's overall health. we have been talking about it now some the 2012 presidential candidates are talking about it, speaking out. we will let you know where they stand next. really? no. it comes with a hat. you see, airline credit cards promise flights for 25,00miles, but...
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>> harris: fox news is america's election headquarters. and tonight the to 12 republican candidates have something to say about the new and slightly improved jobs report. it comes down to this. it's not good enough. that reaction on the heels of the worst day we have seen on wall street since the 2008 financial meltdown. carl cameron live for us in d.c. karl, some tough criticism for the president today. >> yeah, harris. the g.o.p. has decidedly unimpressed by one tenth of 1% dip in unemployment. minnesota governor -- former minnesota governor actually hit the hardest, all but accusing the presidential of driving the country back in recession. he said in a statement today, quote, president obama has still failed to deliver a concrete plan to promote jobs and promote growth. this lack of leadership is inexcusable and driving our economy toward decline. mitt romney casts himself as the
most experienced in both public and private. when you see what this president has done to the economy in three years. you know why america doesn't want to find out what he can do in eight. michelle bachmann out of control spending and debt. you can't fool the markets. mr. president, the only way to dig us out of the hole your administration has gotten us into is to stop digging. now, democrats acknowledge all the economic uncertainty, they argue republicans are the problem and they lack any kind of solution, which is exactly what republicans say about democrats. the only consensus seems to be that each side is going to attack the other and this is going to be one very nasty campaign season. harris? >> harris: all right, carl cameron, it is already underway it feels like. thank you very much. the concrete workers who were helping to rebuild the world trade center back on the job tonight. they walked off earlier this week but now their union has reached a short-term deal with management to extend their current contract. the two sides still trying to hammer out a new agreement.
, about you, as of now, concrete work has resumed at ground zero. a new lava flow breaking out of hawaii's kilauea volcano. officials saying there is no threat to people but making beautiful site. recent lava flows are the first since march. kilauea located on the big island of hawaii has been active nonstop since 1983. exactly one year ago today, 33 men in chile headed to a copper and gold mine for another day on the job. then an explosion trapping them in a small dark underground space for the next 69 days. you remember that. two weeks before we knew any of the miners had survived the collapse. crews flew in from around the world to help in the massive rescue effort. you may recall the moment they began pulling those men out of the earth, every single one alive. today those miners reunited at a commemoration ceremony saying their struggles now are far from
over. many are unemployed. others are dealing with health issues brought on by the event. well, we are getting new information now on reports that a major credit ratings agency could be getting ready to downgrade its rating on the u.s. debt. this is a situation that's actually taking place and taking shape since we brought you the story only 45 minutes ago. what we now know in a live report from the white house next. having theight real estate agent on your side is more important than ever. at remax.com, you can find the experts you need, nobodyells more restate than re/max. visit remax.com today.
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rating agency stashed and pours is reconsidering now its decision to downgrade the u.s. credit rating. that's after the obama administration challenged the agency's numbers and apparently there was a big number at stake here. chief white house correspondent ed henry live on the north lawn again for us. so this story is taking shape at this late hour, ed. >> that's right. still developing at this hour; senior government official this afternoon the treasury department did get some sort of notice from standard and poors
that they were going to be downgrading u.s. debt. we care about that because it would be a huge black eye for the united states around the world in terms of borrowing. could have an impact on interest rates, et cetera. the bottom line the administration not only pushed back but they found an error of $2 trillion what s&p was counting. they overcounted the u.s. debt, the deficit would be $2 trillion more than this administration believes it will be because of some of the recent deficit reductions. bottom line is that at this hour the administration has made its case, s&p saying they are going back to the drawing board. they are waiting here at the white house to see what's going on next. >> harris: that had some sort of impact on receipt today. it will be interesting to see what happens next if in fact they walk back that threat of lowering our credit rating here. >> absolutely. because if s&p were to move forward this weekend and say look we are standing behind our matt or something like that. you can bet monday morning's markets would have a huge impact because of that on the other
hand they are going back to the drawing board. they have may sit on in this weekend and have to decide something and wait on it a few days. but just that waiting and worrying could still have an impact on the market shares. >> harris: as we have seen uncertainty can do its damage. ed henry you are working late on this friday evening. we appreciate your work. thank you, sir. >> thank you. >> harris: on this day in 1967 pink floyd released piper at the gates of dawn. they had been together for two years and quickly become an underground hit on the london music scene. shows heavy on spacey improvisation and blues of course a whole lot of lsd so we're told. title from chapter in a children's book the wind and the willows. and despite the fact that band leader sid barrett left because of mental issues it would go on to become one of the most successful acts of all time it was time to play the piper 44 years ago today and our crew