tv Jansing and Co. MSNBC November 8, 2013 7:00am-8:01am PST
more than 200,000 jobs were added in october, shattering expectations. but the unemployment rate ticked up a notch to 7.3%. jobs are topping president obama's agenda today. right now he's aboard air force one on his way to new orleans where he'll talk about boosting u.s. exports. of course the economy was the number one issue on the minds of voters in new jersey and virginia, as they went to the polls this tuesday. reaction now to today's jobs report from the white house. jason furman is chairman of the council of economic advisers. good morning. good to see you. >> good morning, chris. >> you're smiling. i guess you're happy with these numbers. is it about what you expected? >> you know, you're always happy when the economy is creating jobs. october was more confusing. as you said, you saw job creation but saw the unemployment rate ticking up. i think the thing that was clearest and most exciting to us in these data were that august and september were revised up. it now looks like we were creating about 200,000 jobs a
month. so going into the shutdown, the economy was in a stronger place than people thought previously. >> as you well know, the white house put out a report ahead of today's jobs report and it found that the shutdown led to more than six million days of lost work, cost taxpayers $2 million in back pay for government workers and led to 120,000 jobs lost in the private sector. but then again, we find in today's labor report that there are 212,000 jobs added in the private sector. how do you sort of balance those two things? is there a disconnect? >> first of all, there's no doubt we would have had more jobs in october were it not for the shutdown and the brinksmanship. i don't think there is any economist, anyone in the business community that would debate that the shutdown was bad for the economy. if you looked at the growth estimates that we put out, they were actually more conservative in terms of the impact of the shut down than what many other
forecasters like goldman sachs, standard & poor's, macro advisers had out there. so i think we were pretty conservative. the debate we should be having is not did the shutdown hurt the economy, but what can we do going forward. what can we do to strengthen growth, what can we do to create more jobs. >> as we mentioned, the president is going to be going to new orleans and focusing on increasing trade exports during that speech in new orleans. can you give us a preview? >> sure. one of the things you need for expoerlrts is you need good infrastructure to move your goods to your ports and you need good ports to ship your goods out of the country. when you invest in infrastructure, you don't just create infrastructure jobs today, you also help your exports and strengthen the economy in the future. >> we also know this is something the president has been pushing for throughout his time in office. so far no great success. what makes you think it will be different now? >> you know, we had some very significant investments early on in the recovery act.
we were able to get some additional sustained funding. but, you know, he's going to be down there on exactly to make the case that this is what we need had to. we also need to do more for our economy, education, training, reform our business tax code, get our deficit down over the medium and long run. and the good news is that congress has a conference committee in regular order trying to work through these issues right now and we'd like to see them do them. >> you know what the republicans would say, the effect of the sequester has been terrific on the debt and in fact they would take a lot of credit for what we're seeing right now in debt reduction. what would you say? >> you know, if you look at the biggest thing that cutting our deficit over the medium and long run, it's actually the affordable care act, which is by bringing down the cost of health care, that doesn't just help our economy, it helps bring our deficit down. we have things like the tax deal we made last year with higher tax rates on high income households bringing them back to what they were under president
clinton. but the thing that's most important to bring down the deficit, a stronger economy and that's why we're trying to do everything we can to increase growth. >> one of the things that the president has pushed for and is throwing his weight behind a bill that would raise the minimum wage to more than $10 an hour but all the division in congress, the fact that the republicans have been strongly against this, particularly in the house, is there any reasonable expectation do you think that the minimum wage will be raised? >> it certainly should be raised. it shouldn't be a debate that if you work full time that you shouldn't have to raise your children in poverty, and that's what the president is trying to do. if you look back, the last time we passed a minimum wage, president bush signed it into law. the time before that, speaker gingrich passed it out of the house. so this should be something that everyone can get behind. you know, whether or not they can, i can't tell you, but it would certainly be good for
workers, good for wages and good for the economy. >> jason furman at the white house for us this morning. thank you so much. >> thank you. and we're going to dig deeper into these job numbers in about 15 minutes with two economists, but there's another big story today. president obama looking for ways to help thousands of people who lost their health insurance in the last couple of weeks. despite his promise that if you like your health care, you can keep it. and in an exclusive interview with nbc news, he made a rare apology. >> even though it's a small percentage of folks who may be disadvantaged, you know, it means a lot to them and it's scary to them, and i am sorry that they are finding themselves in this situation based on assurances they got from me. we've got to make sure that they know we hear them. >> i want to bring in our company. christina bell antonbellantoni,.
rare, as we said, christina. what do you make of the president's apology and what is it an acknowledgement of. >> well, he's been under scrutiny under the affordable care act for a long time. this is the most tangible thing republicans have had to pin on him. he's said it so many times so he wanted to communicate that. he obviously had an agenda in being able to say this. it wasn't an accident that those words came out of his mouth. what the white house is really looking at is the long-term gain. they really want to see lots of young people sign up for these exchanges which will bring the cost down for everybody and they want people's care to go up. that's not something you're going to be able to determine on the short term so they're trying to get through this difficult period, fix the website and then see what happens a year from now, a year and a half from now as people are starting to evaluate what their health insurance is doing for them. >> and to the point that the clock is ticking, manu, does this apology take some of the pressure off or just give republicans more fodder to call for a delay?
>> i don't think it takes the pressure off. the president and the administration need to fix the website before the end of the month, before they start seeing even more pressure from members of congress to either delay elements of the law, delay the enforcement penalties for the individual mandate. really what the white house has been able to do at this moment is to keep their party at bay. yes, there have been concerns raised by democrats in congress, particularly ones facing re-election next year, but the concern for the white house is that if these problems continue, if they cannot get this website resolved, if members of congress are hearing from voters back home, the pressure is going to grow on them to delay things even further, to delay the individual mandate enforcement penalties and then they'll be in a really difficult spot over the next couple of months. they need to resolve this immediately, otherwise, things will get much more difficult politically. >> i want to bring in congressman peter welch, democrat from vermont and deputy
minority whip. good to see you, congressman. >> thank you. >> let me ask you about what you're hearing because we do hear from a lot of members of congress that their phones are ringing and e-mails are coming in. how concerned are your constituents and what are you hearing from them? >> well, they're quite concerned. two things, one, the website. you can't sign up for something if you don't have a useable website so people are concerned about that. second, there is some confusion, less in vermont than other places, about folks who thought they had insurance and can't stay on it so they're concerned about that. my view is that we've got to plunge in and listen very closely to folks who are affected, try to understand their situations and stories and be willing to make what adjustments are required so that this health care bill is a positive for them. >> the president says he does get it. he said he understands that for the small number of americans this affects that it is bad. but lynn sweet writes today, quote, a remarkable feature of todd's interview with obama is the president's inability to
sincerely express empathy. i know he tried, but is that the best he's got? given that people are freaking out when they get a notice their policies are being dropped, a horrible frustrating life experience. look, apologies are difficult, particularly for a president, but do you think he helped himself? >> well, he did by acknowledging what everybody knows. the website is not working. and people are scared. i mean there's really three big components to the health care bill, two of which are working very well. one of the insurance reforms, our kids on the policies until age 26, no pre-existing condition denial and so on. second is medicaid expansion. like in vermont, farmers with no kids at home who previously were not vibl now sign up and get access to health care. that's worked great. what's tough is folks in the exchange where, a, we don't have a useable website right now and that obviously is totally unacceptable. and then, b, some people are being affected by the insurance and they're looking at this saying do i get better coverage at lower cost or do i get worse
coverage at higher cost? and some of those anaum loomalie to be addressed by us. and it's not so much empathy as it is action that people can demand. the best empathy is effective action to make this work. >> and the president did say i'm going to get my team together, they're working on this, they want to make sure those folks that got notices that their insurance is cancelled their problem is addressed. john boehner said an apology is certainly in order but what the americans want to hear is that the president is going to keep his promise. that's why the house will vote for anyone with a health plan that they like to keep it. the very least the president can do is support this bipartisan effort. otherwise this apology doesn't amount to anything. do you support that? >> well, that's a continuation of the political battle over so-called obama care. what i support is making the website work and, b, making
certain that the policies that people have, a, meet the standards. we've had a lot of folks in vermont in the past who thought they had insurance. they paid premiums and then when they got sick, it might have covered the cost of the doctor but not the hospital room. so that's the obscuring that is being done by the boehner approach. we've got to have real coverage for people. >> but there are other proposals out there and they're coming from democrats. let me just ask you if any of these are ones you would support. senator mary landrieu wants insurers to reissue the cancelled plans. senator jean shaheen has a bill to extend the enrollment period. joe manchin wants to delay the penalty. what do you think about these proposals and do you think that pressure from democrats actually will lead to some changes? >> well, i do. but here's what the issues are and what i support. one, we've got to get the website working. to the extent we have to adjust the timetable because the website is not working, the government -- that's got to be on the government, not on
americans. so adjustments in time of implementation as a result of the bad website, yes, i think that makes sense. that's only fair. but secondly, on the policies, we've got to hold the insurance companies responsible to give real coverage. sometimes people thought they had a policy but it covers a band-aid but not the surgery. so there's got to be some real insurance that is protected here so people have coverage. so just having a policy that is a bogus policy doesn't provide you with real coverage, i don't think those -- we've got to move beyond that. >> congressman peter welch, always good to have you on the program. thank you. >> thank you. one of the questions that chuck raised with the president was credibility, and he asked him point blank if he told a lie. listen to this. >> are you concerned that people are going to be wondering, geez, what's the fine print that he's not telling me? do you get that people might be a little more skeptical? >> and i think for the most part people know that i speak my mind
and i tell folks what i think and i've been very clear about what i'm trying to do. and i think most people know that even if they disagree with me on certain issues, that i'm every day working hard to try to make life a little bit better for middle class families. >> what's your sense of this, christina, is he going to weather this without any significant changes to what is his signature accomplishment? and he's got this fine line because we just heard peter welch say he certainly doesn't want to go so far as to negate the whole reason that obama care went into effect in the first place. >> sure. as you heard the congressman say, it really sounds like possibly a delay in that fee is going to be the most likely thing and manu has been doing a lot of great reporting on this, particularly from the senate democrats who are vulnerable for the midterm elections in 2014. there's pressure from them. if you don't have things working, of course you'll have to give people more time. there are a lot of other pieces at work here. as we were just talking about, the democrats like to trump elt the things that are working.
bill clinton when he was on the news hour doing an interview with us, he was reminding everybody that even when the democrats didn't like president bush's medicare plan, that they still helped people sign up for it. they could campaign against it and help people through it. so all of those little ways of getting through this program are going to be part of the political picture. but with the white house, they're trying to take a look at the big, big political gain here and in the long term they're looking at his legacy, looking at how this plan goes. so he had to do this acknowledgement of, look, we understand it's a problem and then say i'm still fighting for the middle class. in the end, what are the insurance companies going to do? how are they going to react to this? they're in the business of making money. one of the reasons the affordable care act passed is because they came to the table and helped negotiate some of these changes. >> manu, give us a read of where congress is right now and what you think is going to happen next. >> i think for the democrats right now, their hope is that this is the worst that it gets politically. if they feel that the heat is
increasing, the problems persist and it goes into next year, then you're going to see democrats have to recalibrate. right now harry reid has no plans to bring any legislation to the floor to change, delay the mandate, even doing things that some of his vulnerable democrats are calling for. but that could change in 2014 if the administration continues to bungle this rollout, if the website continues to be a problem and if pressure grows, then the strategy can change. >> because right now, as we've seen, manu, republicans are having a field day with this. i just want to play really quickly a little piece of a video that john boehner tweeted out. >> if you like your doctor, you will be able to keep your doctor. if you like your health care plan, you'll be able to keep your health care plan. >> so really, it's a matter of this stuff getting fixed and that not being the case anymore,
right? >> yeah, and it's about selling it to the public. one of the reasons why boehner and the republicans are seizing on that is that it really undermines the president's credibility and the credibility of the law. if it grows increasingly more unpopular, you could see democrats bolt and force changes to this law. so right now it's -- the democrats want to project -- paint the republicans finding old battles, living in the past. but if the problems persist, it will be hard to make that argument. the best they can hope for democrats is that things will -- this will get resolved and they can move on to the next chapter of this fight, which is implementing it. >> what's funny about the rhetorical fight is you might not like it but you don't want to be dropped. you might not love your doctor but you'd prefer to be able to keep them. >> thank you both. have a great weekend. >> thanks. >> thanks, you too. right now we're watching secretary of health and human services kathleen sebelius as he travels to atlanta. he's there to highlight the new health care law and how it's
improving access to mental health care. sebelius being joined by the former first lady, rosalyn carter. at least four people are dead after the biggest storm ever recorded slammed into the philippines. typhoon haiyan was packing winds up to 200 miles an hour. more from the aftermath ahead here on "jansing & co." my customers can shop around-- see who does good work and compare costs.
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what shutdown? today's surprisingly strong jobs report has a lot of economists scratching their heads this morning. more than 200,000 jobs were added last month despite the 16-day government shutdown, but furloughed government workers did raise the unemployment rate slightly, there you see it, 7.3%. what does this all mean for the
economy going forward? let me bring in university of maryland economist peter moricci and greg edwards. peter, are these numbers reason to celebrate and can we keep up the pace? >> well, they're reason to celebrate in the sense that they're better, but we need about twice as many jobs to pull unemployment down to 6% over three years. more than that, this may reflect a big shift to part-time employment. if you go to the population survey, over 200,000 people reported that they were now employed part-time. more than half of those because they couldn't get full time work. if you replace two full-time jobs with three part-time jobs to avoid obama care mandates, for example, or some other issues, you increase employment. but you really don't -- you increase the number of employed but you don't increase employment. >> greg, is that how you read it? i also want to put out some other stats. there were job gains across the board, 53,000 were added in leisure and hospitality, 44,000 in retail. there were also significant
gains in manufacturing an health care. what do you see these numbers telling us about the recovery? >> it's a much better report than we expected. the wall street consensus was for about 125,000 jobs. so i think this tells us a couple things. first of all, that the private sector did not layoff as many people in response to the shutdown as we expected. they may have only put them on shorter hours which might explain the rise in part-time employment better was talking about. the second thing we could interfere is the fact that the private sector continued to hire as many people as they did despite the shutdown suggests there's underlying momentum which i think is because the headwinds tha been holding us back, suches athe weak housing mark and the fed ceral sequeste has started to fade. >> the dow is up 77 points, the s&p 500 up about 10. peter, in addition the fed has been pumping billions into the economy each month. does this jobs report change any of that?
>> not immediately. we're going to have to start seeing a lot more good jobs reports before i think janet yellen would be inclined to dial back on quantitative easing. there was a lot in the gdp report that was troubling. for example, an awful lot of it was inventory build. consumer spending was down from the second quarter to the third, business spending was down second quarter to the third. imports improved, but there we've recently seen a surge in what's coming out of china so that could reverse. so i think there's still reason to be cautious. >> are you cautious as well, greg? obviously there are big political implications here because we're a year away from the 2014 midterms and where the economy is then will have a lot to do with who gets elected. >> look, we've been disappointed so often with this recovery in the last four years, anybody that's not cautious has been not been watching the news. but i'm consciously optimistic. because so many things are due
to fade. just to throw some numbers at you, common estimate is that fiscal cut backs cost us 1.8 percentage points of growth this year. in other words, we'd be growing 3% absent that austerity. because we're not scheduled for any new austerity, that suggests that that headwind will fade considerably and that should be good for the coming year. for the federal reserve, i think there's a strong underlying desire to dial back the money printing, the quantitative easing as they call it. i think this report gives them the excuse they need to start that process if not in december then certainly by march but they will replace it by a stronger commitment to keep the short-term interest rate at 0, perhaps through 2016. >> it's always interesting when we have one of these split reports, which mean the actual numbers differ from what the unemployment rate is, in this case a much better report than expected and yet the number of the jobless rate ticks up a little bit. let me ask you both really, really quickly, greg, good or
bad for the president, do you think? >> i think you just ignore the household survey numbers. it was heavily distorted by the people that survey households didn't get started for a week after they should have. some of the people answered wrong and a lot of government employees were furloughed. just ignore that number for the next week or two. >> i don't think we can ignore those numbers but i think that's what the president will do. the household surveys showed a dramatic drop. how can it possibly be the case that 700,000 people were no longer working because of the government shutdown? that's just absurd. >> peter morici, greg ip, i'd love to see you guys again this time next month. thank you both. >> thank you, chris. despite objections from israel, high-level talks are about to begin between secretary of state john kerry and iran's foreign minister. kerry arrived in geneva, switzerland, just a short time ago. officials there have been hammering out a deal that could allow for a limited pullback on economic sanctions in exchange for iran reining in its nuclear
program. kerry told reporters shortly after arriving, quote, there is no agreement at this point and there are some important gaps that have to be closed. talk of a very different sort right now in toronto, canada, all about that city's mayor and whether or not he should resign. this after a stunning new video came out. hear what he has to say about it, next. [ male announcer ] at humana, understanding what makes you different is what makes us different. we take the time to get to know you and your unique health needs. then we help create a personalized healthcare experience that works for you. and you. and you. with 50 years of know-how, and a dedicated network of doctors, health coaches, and wellness experts, we're a partner you can rely on -- today, and tomorrow. we're going beyond insurance to become your partner in health. humana. his day of coaching begins with knee pain, when... [ man ] hey, brad, want to trade the all-day relief
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continues with more than 50 demonstrators arrested just last night outside a los angeles walmart protesting what they call unfair wages and benefits. joining me now is democratic strategist chris kofinis and robert traynham. good morning, guys. >> good morning. >> good morning. >> at the top of the hour i talked to jason furman, chairman of the council of economic advisers. here's what he said about the minimum wage. >> if you look back, the last time we passed a minimum wage, president bush signed it into law. the time before that, speaker gingrich passed it out of the house. so this should be something that everyone can get behind. >> so, robert, why aren't republicans getting behind it? >> i'm not sure i agree with that, chris. when you take a look at the recent polls, three out of five republicans support a minimum wage. the vast majority of americans -- >> let me correct myself, republicans in congress. >> that's a bit different. specifically the house of
representativ representatives, they enclosurely represent more deser conservative districts. what i suspect is that there's going to be some type of a compromise here. it may not be 10.10 an hour but perhaps $9 an hour or something like that. so i think there's a little room here for some compromise on both sides. the president himself in his recent state of the union address last year said he was open to a minimum wage hike of $9 an hour so i think there's going to be a lot of compromise here. >> let me set the stage for where we are right now. senate democrats could act before thanksgiving on the harkin-miller bill which is known as the fair minimum age act and that would raise it to $10.10 an hour. but in march, all 227 house republicans voted against such a minimum wage increase. so, chris, can democrats get republicans on board? how much compromise are they willing to do? >> i think democrats are open to
compromise, but when you're talking about the minimum wage, let's put it into some context. if you look at it in terms of the 1960s wages, this is a minimum wage as it is right now that's about 25%, 28% less than it should be at a minimum. just if kept up to what they were paying in the 1960s. $10.25 roughly $20,000 a year, these are not folks who are going out buying ferraris, these are folks who are trying to make basic ends meet and support themselves. so you would think that there would be some rational support amongst republicans, but i think what you're going to find is in the house for a lot of reasons, which are not necessarily logical, they're going to oppose it. i think the key first thing is to try to get this out of the senate. i think there are some republicans that are willing to go along with this and support it. if you come down in the overall amount that's possible but i'm not sure you can come down much. you can make phase it in over time. the real question is what
happens in the house. i just don't see the house moving on this. that's why it will become a line in the midterm elections between the democrats and republicans. >> to be completely transparent about this, this is the reason why this should not be a political issue. this is why this should be indexed to inflation so members of congress do not have to skrovote on this. it really does depend on the markets and inflation so literally the minimum wage gets risen annually based on the moods of the economy is how it really should be happening. >> let me ask you if you really honestly do think, chris, that something might possibly happen here. you've got to say when i asked furman the question directly, what are the chances given what we've seen in the house, he said, well, this should happen. he certainly didn't say that they have any expectation it will happen or even talk about hope for a compromise. >> well, how can you be optimistic right now in terms of where congress is and in particular where the house of
republicans are. i'm not going to be optimistic about it. that being said, you're talking about tens of millions of individuals who literally live on minimum wage. and, you know, for those who have been on minimum wage when they were younger, imagine trying to support a family on that. and that, i think, is a reality that some republicans, i don't understand why they don't seem to get. i mean these are not folks living the high life on $10 an hour. so i think there's going to be a huge political push by democrats. and i would hope to see that some moderate republicans and reasonable republicans go along. i think the question is can you put enough pressure on speaker boehner to put this on either some type of legislation that will pass or do some kind of an open vote. i don't think either one of those will happen, but i do think with enough pressure it could happen. >> chris kofinis, robert traynham, always good to see you. thank you. >> thank you. >> if you read only one thing this morning, the actions of some airline personnel sparking
criticism around the world after they told a french passenger in chicago he was too fat to fly. he was in the u.s. getting treatment for a hormone disorder that caused his weight to balloon. read the details, let us know what you think. head to facebook/jansingco. threats are always evolving. at first, we were protecting networks. then, we were protecting the transfer of data. and today it's evolved to infrastructure... ♪ ...finance... and military missions. we're constantly innovating to advance the front line in the cyber battle, wherever it takes us. that's the value of performance. northrop grumman.
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checking the news feed this morning, the biggest storm ever recorded crashed into the philippines, killing at least four people. typhoon haiyan packed wind gusts up to 200 miles per hour. floodwaters forcing more than a million people to flee their homes. the storm is now moving out into the south china sea and heading toward vietnam. new video out today of embattled toronto mayor rob ford making death threats to an unnamed man. >> i need [ bleep ] -- it will be over in five minutes. it will be a -- [ bleep ], dude. >> it comes out just two days after the mayor admitted he
smoked crack cocaine. here's how rob ford reacted to the latest video. >> i hope none of you have ever or will ever be in that state. >> mayor ford, do you need help? is it time to get help, mayor ford? >> obviously i was extremely, extremely angry. >> a proposal to repeal florida's controversial stand your ground law was rejected by a legislative subcommittee. the law came under scrutiny after the death of unarmed teenager trayvon martin and the acquittal of his shooter, george zimmerman. check out these pictures from the vatican this week, they have been flying around social media showing pope francis blessing a man whose face is severely disfigured with boils. the pope kisses the man's head and then held him for a long time as they prayed. and there it is, sign of the season at least for those of us
who live and work around rockefeller center. this year's rockefeller christmas tree arrived this morning. 76 feet tall. it weighs 12 tons. the norway spruce was cut down yesterday in connecticut. twitter burning up wall street with a meteoric launch. mandy drury is here. so just how hot is twitter after its launch? >> well, yesterday in its debut the shares shot up 73%, which really isn't bad for a 7-year-old company and it is now in the history books, chris, as one of the biggest internet ipos on record. however, today we're coming back down to earth a little bit. in fact we're moving to the downside in terms of the share price. you can see it there on your screen. you know, after all, this is a company that is not yet profitable. it is going to be under wall street scrutiny every single earnings quarter. but it still made several people like the chairman jack dorsey and the co-founder evan williams overnight billionaires, so
whatever the price is doing today, i guess they're laughing all the way to the bank. >> is there any unanimity of opinion on wall street about where this is going next, or is it cautious? >> i think there is a fair amount of cautiousness there because you know what, as i was saying, it doesn't make money. there's revenue but it's not actually profit al. i think what a lot of people are saying is that hopefully the pricing will contribute at least to a more stable performance than facebook had. remember that twitter decided to price its ipo at $26, which is a relatively conservative figure. the underwriters decided to price the deal at that lower point because it leaves larger room for a larger first day pop rather than follow in the footsteps of facebook when which priced it at $38 and the underwriters had to keep the shares from dipping below the price and it took over a year for the stock to recover. so we are hoping that they have learned from facebook's ipo mistakes and hopefully this will be a more stable performer out there in the public trading
world. >> cnbc's mandy drury, as always, great to see you, mandy. oprah is out with her favorite things for 2013. you know she drives all kinds of consumer activity. about 60 things on her list so i picked my favorites from her favorites and i think you'll be able to figure out a theme here. there's the truffle popcorn kit. a truffle strextravaganza with hulless popcorn. there's a pie corps turkey pie. it is a pie with roasted turkey, sweet potatoes, rosemary. the season's eatings breakfast tin. all you need for a delicious breakfast from nashville's loveless cafe. and last but not least, 28 green single origin dark chocolate gnache truffles. enough said. life with crohn's disease or ulcerative colitis
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said they planned to spend more on gifts this year. 58% say they'll spend the same. but a third say they plan to spend less. that's why some retailers like walmart are already offering holiday deals. they want to get people shopping. we're also seeing the trend of opening on thanksgiving expanding. k-mart now says it will open at 6:00 a.m. on thanksgiving day as part of a 41-hour shopping blitz. toys r us opens at 5:00 p.m. i guess just as a lot of people are carving their turkeys. j.c. penney, kohl's, macy's, sears will all open at 8:00 on thanksgiving night. we're joined by a retail analyst now. retailers are getting a lot of flak about these openings, especially during the day on thanksgiving because obviously then people have to work. is it that we don't really have black friday anymore, it's black thursday? is there a concern at all that at some point how early is too
early? >> right. well, i think this -- we are a nation of consumers. we like to spend. so as much as i want to think that the american consumer is finally going to fatigue with all these deals coming out them, them being bombarded with all these deals, it's not the case. right now the american consumer really wants those deals and they're going to go out there and the retailers are capitalizing on that. >> and they're going to stand in line on thanksgiving for hours and forego maybe the turkey and the family? >> for these people, they orient their holiday around it. this is a blood sport. >> you're so right. >> it really is. >> what's the math behind all this? obviously they have to know how much more money do the stores make by opening early? >> well, retailers overall, 20% of the retail sales that come out of the holiday account for total annual sales for those retailers. now, the national retail federation is expecting that holiday sales will be around $600 billion. so that's a big piece of the pie
there. and not to mention as well jobs. i mean a lot of jobs are coming out because retailers are going to have to step up. maybe not as much as we saw last year because a lot of those retailers are starting to look more online to sell their product, but this is a big deal for these retailers and they want to get a piece -- like i said, a piece of this pie. >> if they can't get a leg up by opening on thanksgiving because so many others are doing it, what else are they doing to generate buzz? >> we were talking about some of the stores opening early but a lot of them are starting to leak their deals online. walmart, for example, they actually started to put their deals online early. >> so you know now what you can get on black friday? >> and they're continuing to put more deals up. best buy, for example, has this lg tv that's being sold usually $1,000, being sold for $500. so people are starting to see these deals. >> wow, 55 inch. >> i saw that too and i thought, wow -- >> time to get a bigger tv, right?
>> exactly. >> what do we know about how people are going to spend? where are they going to put their money this year? >> well, it's interesting. people that are spending are going to be looking more at travel, they'll be putting their money towards that. they'll also be spending most of their money on games and toys as well and also gift cards and electronics. >> and finally, this is the critical question for everybody out there, what is the best day to shop to get the best deal? >> well, i know you don't want to hear this answer, but i think we just have to wait and see what some of those economic indicators are. usually what i tell people is around december 20th, depending on what type of product are back on the store shelves. if the consumer is feeling they don't want to go out and shop, there's going to be more product in the stores and it's a better deal for us because there will be more discounts. it's a bad deal for the retailers. >> it's also going to be interesting to see where the online comes down this year, because it's been steadily going up over the halftilast several
>> amazon is kind of taking the helm. again, speaking of bloodsport, that's what we're seeing with the retailers as well so i would tell people to go online as well and check those deals. >> thanks for coming in. >> thanks for having me. today's tweet of the days from longest serving congressman. 46 years ago i helped get the public broadcasting act of '67 signed into law. you're welcome, cookie monster. m s about the power of baking stuff with nestle toll house morsels. you can heal a broken heart with a bundt cake. make a monday mornin' feel like a friday afternoon with some nestle toll house morsels. let's close our laptops and open our ovens. these things don't bake themselves. we have to bake them for one another. we can bake the world a better place one toll house cookie at a time. nestle. good food, good life.
to politics now, and president obama responding to allegations in the new book "double down" that his re-election team considered replacing joe biden with hillary clinton for vice president on the 2012 ticket. >> if they had asked me, i would have said there is no way that i'm not running again with joe biden, because i genuinely believe that he has been one of the best vice presidents in our history. >> speculation over casting for a potential "double down" movie has begun. john heilman tells politico he
has two suggestions for president obama, will smith or jean carlo esposito. fresh off his re-election win, new jersey governor chris christie made his primetime acting debut last night on "the michael j. fox show." >> we'll be speaking to the governor of new jersey, chris christie. governor, welcome. >> mike, thanks for having me. i'm so glad to see you back doing your job and i find your story so inspiring. in fact it's so inspiring there's been a lot of speculation about things. i think i should make an announcement, so mike -- >> and that's going to wrap up this hour of "jansing & co." i'm chris jansing. richard lui, who was just named one of the 50 sexiest tv news anchors. >> you really are? >> is in for thomas roberts. >> you can tell the validity of that poll because you're not on
it. i paid a whole 25 cents for that. >> congratulations, mr. lui, who's been blushing all morning. >> chris jansing, thank you so much. have a great weekend. the agenda next hour, president obama says he's sorry for the problems with the health care rollout. but is sorry good enough? and will the republicans stop pointing fingers and come up with real solutions? chuck todd, michael steele and kiki mclean join us live. was kendrick johnson's death an accident or murder. and the dolphins bullying allegations just got a whole lot worse with jonathan martin. he suffered a malicious physical attack by an unnamed teammate. we'll talk with cam cleeland who was nearly blinded by a hazing incident 15 years ago. he calls richie incognito a, quote, locker room cancer. geico's emergency roadside assistance is there 24/7. oh dear, i got a flat tire.
hmmm. uh... yeah, can you find a take where it's a bit more dramatic on that last line, yeah? yeah i got it right here. someone help me!!! i have a flat tire!!! well it's good... good for me. what do you think? geico. fifteen minutes could save you fifteen percent or more on car insurance. no longer in uniform,. but still serving... on the job and in our communities... whose dedication and commitment to excellence continues... in every mission, whatever it may be... affecting our lives every day... for your continued service, we salute you. this message of appreciation to our nations' veterans is brought to you by paralyzed veterans of america and unitedhealth group.
i started part-time, now i'm a manager.n. my employer matches my charitable giving. really. i get bonuses even working part-time. where i work, over 400 people are promoted every day. healthcare starting under $40 a month. i got education benefits. i work at walmart. i'm a pharmacist. sales associate. i manage produce. i work in logistics. there's more to walmart than you think. vo: opportunity. that's the real walmart. i am sorry that they, you know, are finding themselves in
this situation based on assurances they got from me. we've got to work hard to make sure that they know we hear them and that we're going to do everything we can to deal with folks who find themselves in a tough position as a consequence of this. >> hello, everyone. i'm richard lui in for thomas roberts on this friday. topping our agenda today, a president obama exclusive. in an interview with chuck todd late thursday, he apologized to those being told their insurance is being canceled. house speaker john boehner, meanwhile, saying while an apology is in order, if the president is sincerely sorry, he'll support a bipartisan bill that will allow anyone with a health care plan they like to keep it. right now, health and human services secretary kathleen sebelius is again trying to smooth things over. perhaps trying to deflect from the debacle of the obama care exchange. she announced the administration will require insurers to require mental health care and addictions just like physical illnesses. he's already attended three
events and spoken to the media already this morning. >> this is the largest expansion of behavioral health coverage in a generation. we have had inexcusable technology problems with healthcare.gov. we are making progress toward fixing them, but the new law is more than a website. >> when chuck todd asked president obama last night if he had full confidence in sebelius, this was his answer. >> i think kathleen sebelius under tremendously difficult circumstances over the last four and a half years has done a great job in setting up the insurance markets. >> is she still the right person to do it? >> ultimately the buck stops with me. i'm the president. this is my team. if it's not working, it's my job to get it fixed. >> joining me now, msnbc political director and chief white house correspondent chuck todd, msnbc political analyst and former rnc chair, michael steele, and democratic