the democrats and the president and jack lew as treasury secretary are saying, this sounds familiar,aise taxes on the wealthy. spend more money on investments and things like infrastructure, education, clean energy, manufacturing, to boost the middle class. republicans say we've heard this all before. we've spent $800 billion in the stimulus. it hasn't worked. real median household income has actually fallen during the recovery since the recession enlded in 2009. they say get government out of the way. lower taxes. less regulation. let business be the generator of growth. so it's an old argument, but we're going to see it renewed with new fury in the next month or so. once again we're bumping up against one of those deadlines for the government to run out of money. >> man, oh, man, if we did this in our house, you know, credit card company would be after us. what do we do? you've got the debt ceiling. they keep on expanding that. we have these fiscal cliffs. we're running up to 2014 where this certainly will be an argument then. >> it absolutely will be an argument. i will say that r

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jack lew urging congress to raise the debt ceiling to avoid a government shutdown.y won't vote for a spending bill that funds obamacare. >> first time in american history one side arguing that default was an option. it can never be an option. they to pass it. president has made clear we can't negotiate about whether or not the governmental of the united states would default. >> we all know that the government is going to get funded. the only question with on obamacare or without it. what i'm saying the president said lawsuit isn't ready for prime time. so if he was not ready, if the law is not ready we can't fund it. >> heather: justin and christy is here. thank you both for joining us. couple things to start to talk about. let's start to talk about with the debt ceiling. a number of congressional republicans they wanted to impose conditions for raising the government's $16 trillion debt limit. some have insisted on spending limits. just when the treasury-secretary says, christy i'll start with you. it's simple. why not? >> heather, i don't know, this seems to be th

i need your take on what treasury secretary jack lew said to kick off delivering alpha today, and i haveame question for mr. lew that i had for mr. bernanke. where's the growth going to come, from and where is team obama's growth policy? so, please, stay with us. we're "kudlow." ♪ you're not made of money, so don't overpay for boat insurance. geico, see how much you could save. and i have a massive heart attack right in my driveway. the doctor put me on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. go talk to your doctor. you're not indestructible anymore. these are sandra's "homemade" yummy, scrumptious bars. hmm? i just wanted you to eat more fiber. chewy, oatie, gooeyness... and fraudulence. i'm in deep, babe. you certainly are. [ male announcer ] fiber one. a friend under water is something completely different. i met a turtle friend today so, you don't get that very often. it seemed like it was more than happy to have us in his home. so beautiful. avo: more travel. more options. more personal. whatever you're looking

yesterday jack jack lew who the president asked to investigate the i.r.s. dal, he said the i.r.s. scandal, it's not a scandal. it's a phony scandal. ginned up by the republicans. here's jack. >> i think we have to look at the facts. there have been a lot of investigations, hearings, the justice department. there is no evidence of any political decision-maker who was involved in any of those decisions. i think the attempt to try to keep finding that evidence is creating the kind of sense of a phony scandal. >>anna: until yesterday we were trying to figure out which one of these scandals is the phony scandal or are they all of them. we heard from family members from victims of benghazi, fast and furious, seal team six. you're thinking all these families are having a hard time with this and now we're hearing it is just the i.r.s. if it is the i.r.s. one, how does the secretary of treasury know -- how does jack lew know this if the investigation has not been complete? he was on chris wallace's show fox news sunday and chris had to ask him three separate ways and

bill: treasury secretary jack lew out on sunday challenging on "fox news sunday" of irs targeting of ervative groups and lack of any concrete investigations. here is chris wallace interviewing lew trying to get a very specific answer. does he? >> have you asked william wilkins, the irs chief counsel appointed by president obama what involvement he or his office had in all of this? >> chris, to be clear, there are 1600 lawyers in the chief counsel's office and there was no suggestion that this went to the one political person in that office. there is no evidence 6 it. there has been no evidence of it. >> wait a minute, have you asked him? >> chris, i am leaving the investigation to the proper people who do investigations. i don't think it's appropriate for me to dot investigations. >> somebody in the treasury department asked, has somebody in the treasury department asked he knew about this. >> chris, there is no evidence this went to any political official. >> well, there hasn't been an investigation. the justice department investigation isn't complete. the inspector general never con

treasury secretary jack lew is here. thanks for coming by. >> good to be with you, candy. >> want to have a general question about the economy and play for you something the speaker of the house said this week. >> the president pivoted this week to jobs, as he has been known to do on occasion, and under the president's leadership, our country has fallen into the new normal of slow growth, high unemployment, and stagnant wages. i think it's unacceptable. >> take his characterization of the economy. is there anything in there -- slow growth, would you agree with that? >> candy, i think the characterization does not reflect where the economy is or where it's come from. i think, if you look at where this economy was four years ago, it was in free fall. >> he's not suggesting -- >> since the great depression. >> he's not suggesting this is better than it was in that first year, but where is it now, right now? >> i think, if you look at where it's come, we've had 40 months of job growth, four years of economic growth. the pres

we take that on with treasury secretary jack lew. and our power house round table. >>> and george will and jeremy schaap on baseball's black eye. all that ahead this sunday morning. >>> hello again, let's get right to the breaking news in the new york mayor's race, anthony weiner's campaign manager quit after the new revelations that weiner's sexting continued even as he plotted the comeback run for mayor. abc's jeff zeleny is here with all the latest. and jeff, the campaign manager is gone, but weiner seems determined to stay in the race. >> reporter: that's right, but despite the setback, anthony weiner just taped a new campaign commercial and staying in the race. even as the humiliation threatens his candidacy. the resignation of anthony weern's campaign manager, just the latest bow for a campaign that looks like it's on the the brink. >> i have to hope we get back to the issues that people care about. >> reporter: the famously brash new yorker struggling to halt an unending barrage. mocked by late night comics. >> he's out on the

. >> we will talk with treasury secretary jack lew about the president's plan to help the middle class and we will discuss the budget battles ahead with republican senator is mike lee. and anony weiner admits, tough habits are hard to break. >> i said that other texts would come out, and they have, there's no question what i did was wrong. >> i love him, i have for given him, i believe in him. >> we will ask the new york panel about the scandal. all right now. on fox sunday. >> and held again, from fox news in washington, president obama was out campaigning this week, pushing his plan to boost the economy buy helping the middle class, and attacking washington as too focused on quote, phony scandals. republicans say they have heard it all before. on friday, i sat down with treasury secretary jack lew, thank you for he being with us. >> thank you. >> the president keeps asking for more money for he educations and for all things that the republicans have repeatedly rejected. the president said that the gop's attempts to repeal obama-care is meaningless, isn't this just as meaningless. >>

we heard it from the president and more subtlety from jack lew.you think the president can make benghazi and the snooping and spying on reporters and the american people go away? >> no, i don't. it may help him with his base to belittle the cases as phony. supporters on the left think that about them. certainly people in the public are fed up about these things. i don't think it makes them go away at all. in the effect, it will turn on what is ultimately discovered about each and all of them. >> chris: let me ask you about that. clearly, it was a steady drum beat. we heard from jay carney and heard it from the president and jack lew, phony scandal, smarted political move? what is thinking behind it? >> it takes the focus off the event and makes it is this a scandal or not a scandal and not what happened and fact it's republicans. republicans with their approval ratings, they could go lower but they have continued to drop. >> i agree. i think it does skip. it's one of those things it sticks for the president. what will be interesting is if the scan

if it is going up the ladder, jack lew was chief of staff. we have to take that into account, he could be a player in the game too, but i will say from jack lew from your expectations of media, lou, come on, wake up, lou. >> juan, thank you, i will try to gain consciousness. thank you. juan. >> monica thank you. >> always. lou: we'll have much more on this president's new bellicose, bullying language, shocking throughout the broadcast here tonight. >> detroit, broke, bankrupt, and looking for a way to fight off its creditors. believe it or not, motor city is looking to obama care for a bailout. >> fox news contract mike emmanuel with the respect right here. hey, it's me, progressive insurance. you know, from our 4,000 televisision commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. [sig it feels good to help people save... with great discounts like safe driver, multicar, and multipolicy. so call me today. you'll be glad you did. cannonbox! [splash!]

. >> we'll talk with jack lew about the president's plan to help the middle class. and we'll discuss the budget battles ahead with republican senator mike lee. >>> plus anthony weiner admits old habits are tough to break. >> i have said that other texts and photos were likely to come out and today they have. there is no question that what i did was wrong. >> his wife by his side, he says he's not dropping out of the run for mayor. >> i love him. i have forgiven him. i believe in him. >> we'll ask our sunday panel about the new york city soap opera. all right now on "fox news sunday." and hello again from fox news in washington. president obama was out campaigning this week pushing his plan to boost the economy by helping the middle class. and attacking washington is too focused on quote, phony scandal. republicans say they heard it all before. on friday i sat down with treasury secretary jack lew. >> welcome back to "fox news sunday." >> good to be with you. >> president obama keeps calling for more spending to pay for infrastructure, to pay for education, to pay fo

that is what jack lew wants to do. the deadline is 5:00 p.m. this evening for time warner customers. is cbs joe's going away? this is a big media story today. pain in the workplace. did you know that hundreds of billions of dollars reportedly is lost every year and productivity in healthcare costs? the good news is, there is something we can do about it. those stories and more right here on markets now. ♪ connell: all right. the dow is down 32 this morning. this is a big week for the economy. we are also talking about mideast -- which is a huge topic in d.c. today. we have nicole petallides on the floor of the new york stock exchange to start us oof. nicole: we are seeing a market that is under a little bit of pressure. we have had five straight weeks of gains on the dow. you did mention some of the names that are weighing on the dow. two huge groups that really weigh on the market today. financials and energy. also, chevron and exxon are weighing on the dow. you are seeing energy as a laborer as well. johnson & johnson actually hitting a new h

as far as jack lew is concerned, jack did spend some time at citi corp.efore that he was close to tip o'neill, he worked very hard in the clinton administration. i haven't seen any evidence that jack lew was anything other than a major player. one of the people who have some significant wall street experience after his government service was a man named paul volcker. the volcker rule which we were glad to help enact into law and i believe will be enacted in very tough form, will be a great protection. so yeah, you got to be careful about this, but as of now i see no evidence that the people who had worked in the financial industry are being weak. i did notice recently "the new york times" front page of the business section saying, boy, mary jo white's getting tough. that's a good thing. >> by the way, alex, just to add to that, you take people like neal womin, they provided great leadership and source of information and support as we worked through all of this. there are very good people there. tim geithner i think did a good job in many, many ways. i kno

maria bartiromo, you heard second stair of treasury jack lew.hey're getting ready for a fight here in washington again over funding the government this fall, then there's another battle over the debt ceiling, cutting government versus helping the economy. how do you see it? >> well, i think there will be a fight. i think the president has been very clear that he is not going to negotiate on the debt ceiling. and john boehner has been e equally as clear that it's not going to come from more revenue in terms of taxes and we need to stop spending. so i do expect another fight. having said that, i think jack lew does have a positive story in terms of the recovery to talk about. things are clearly getting better. housing has improved. the corporate sector probably in the best shape it's been "in depth" years with trillions of dollars of cash on balance sheets, but there is still a very deep frustration i think within the administration in terms of we are in an anemic recovery. you were right, this is an anemic pace, not even 2% growth. we need to get

jack lew tries to answer that straight ahead. or is it campaign 2016 just getting started? why president obama and hillary clinton are having a private lunch

>> well, you would have to ask jack lew, because he's the one you're quoting.ling you that we did end too big to fail. here's the confusion people have made. there are always going to be institutions, even if you split every one now that's in half, or in thirds, there will be institutions which if they couldn't pay enough of their debts, that could cause problems. so we do recognize that there are some institutions that are too big to be ignored if they -- if they fail. so what the bill says is if said institution comes up, whether it's aig again, or any other, the first thing that happens under the law is it is dissolved. it fails. there are death panels in our bill, but they're not for old ladies. they're for big banks. they say the board of directors are gone. the shareholders are wiped out. executives are fired. at that point, the fdic, which liquidates banks in america, steps in, one of the toughest bench regulators, helped to write this law, and she then -- or her successor -- liquidates the bank, if it requires some funding to keep the nonpayment of debt

enrique acevedo lace, volvemos. >> el secretario del tesoro jack lew, sabe de dinero y de cÓmo se hacetodos sabes, es la historia de estados unidos, somos una naciÓn de inmigrantes, una naciÓn donde el espÍritu emprendedor viene de gente que ha llegado a muestras costas a aprovechar oportunidades para construir sus vidas, sus familias, sus comunidades. >> no obstante, pareciera que el sistema bancario pudiera ser un mejor trabajo para llevar sus servicios a la comunidad hispana, a quÉ me refiero, tan solo en california, uno de cada dos latinos dice que prefiere pedir dinero prestado a su familia, o a sus amigos antes de pisar un banco. >> creo que los puntos que usted plantea son bastantes serios, en muchas partes de nuestro paÍs, el acceso a los servicios bancarios para los consumidores es un reto, el acceso a capital para hacer negocios es un reto, creo que hay muchas oportunidades y se pueden aprovechar especialmente con las nuevas tecnologÍas para cerrar estas brechas, me satisface cuando veo que los bancos estÁn haciendo eso, y una cosa que tenemos que hacer es trabajar juntos con

the nation wonders which scandals the obama administration thinks are phony, treasury secretary jack lew bears up one, saying that targeting people with bad judgment, but not political revenge. we will ask a senator if he agrees. the republican party at odds over what do do br immigration reform. we will talk to the members about bipartisan members who say they have a solution. highway horror, a bus carrying a church group crashes on an indiana interstate, killing the pastor and his pregnant wife and injuring dozens and we talk live about the investigation of accessing a controversial record and whether he will run for office again. i'm shannon bream. america's news headquarters live from the nation's capitol starts right now. >> there is no evidence of any political decision making who was involved in any of those decisions. i think the attempt to try to keep finding that evidence is creating the kind of cerns of a phony scalpeddal... >> the white house has taken a lot of heat for insisting that washington is being distracted by phony scandal, leaving many americans wondering which scan

treasury secretary jack lew.y 17th, and "squawk box" begins right now. ♪ i'm back back in a new york groove ♪ >> okay. good morning. good morning. and welcome to "squawk box." we're live from the pierre hotel in midtown manhattan. even though with a jacket on, i am still joe kernen. >> you still are. >> this is everything that you've dreamt of, jack, at the anchor thing here. >> more britney spears than true anchor. >> britney spears. >> or madonna. >> i think madonna. >> you had your -- you and eliot spitzer. >> you're promising to wear the cones. >> in the 7:00 hour. >> becky quick is here, looking resplendent and andrew ross sorkin is here. the s&p 500 and nasdaq falling for the first time in nine sessions. u.s. equity futures this morning on the other hand are headed lower. but it is early. the big driver today is going to be fed chairman ben

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are there now two jack lews? how does it work? >> well, i would just say that it has been a work in progress for well over 40 years of me trying to have legible handwriting, and i suspect that will be a project that continues. >> mr. secretary, pleasure to have you on. >> pleasure to be with you, fareed. >>> up next, what in the world? why the country once called the world's most dangerous now has reason to be hopeful. we'll be right back. geoff: i'm the kind of guy who doesn't like being sold to. the last thing i want is to feel like someone is giving me a sales pitch, especially when it comes to my investments. you want a broker you can trust. a lot of guys at the other firms seemed more focused on selling than their clients. that's why i stopped working at my old brokerage and became a financial consultant with charles schwab. avo: what kind of financial consultant are you looking for? talk to us today. that your mouth is under attack, from food particles and bacteria. try fixodent. it helps create a food seal defense for a cle

jack lew, his counterparts from china, some other u.s.ials along with larry fink of blackrock, ellen coleman of due point and chairman of baidu, lenovo, other companies as well. treasury officials saying in that meeting, businesses raised protection of intellectual property this is coming up all week. property rights, cybersecurity. regulations, increasing exports and climate change is the issues that they discussed this morning. this all wraps up in about the next hour. treasury secretary jack lew will make remarks at about 5:30. shortly thereafter, holds a press conference. back to you. adam: rich edson at the white house. thank you very much, rich. liz: we have breaking news on dell. boy this story to take this company private is far from over. we're hearing news out of bloomberg right now that carl icahn, who had the opposing bid to michael dell and his group, says he will come up with a higher dell bid friday morning. tomorrow morning. he says, you know what? right now the 13 . 65 a share that has been accepted by shareholders, the d

what i would do, if i were jack lew and said, look, this happened. that's right, we did the audits and they were random and let's have congress come on in and take a look at the entire file and the paper trail of both these institutions and we want to show you a couple other respective liberal and moderate institutions we also audited because we do this every year, et cetera. come on out and do it. >> in may the president said it was very serious, this is a very serious matter. now he says it's phony. what in the world happened between early may and now? it was so serious and getting to the bottom of it. you tell me. >> he's gone straight into political mode. look, i was in nixon's white house during watergate. i was in reagan's white house during iran-contra. i can tell you the mind-set there is this. they're saying,re what the irs . how could they have done it. we might have have been berating the tea party and cult rattly or psychologically so people did it. now they're trying to hurt us. don't give them anything more and counterattack. that's wha

jack lew said president obama doesn't get his way on the upcoming debt ceiling battles, he will not negotiate. here he is drawing the president's line in the sand and that name time kicking sand in the eyes of the gop. >> the president has made clear that he wants to start investing in the future. lou: lew making his comments after "the washington post" were ordered to topple the obama administration officials are pushing a strategy that will lead to a government shutdown if republicans continue to demand spending cuts and refuse to and the sequester. irs attorneys reveal the chief office has been involved in the tea partyx-exempt applications. an office that reports directly to the treasury department. >> a lot of time has gone into asking questions of a lot of people. we will cooperating with all of the ongoing investigations. i am just challenging but this has been shown. lou: republicans not happy on certain provisions of obamacare while allowing the rest of the law to go into effect. president obama told "the new york times" that he is not concerned about their opinions. very few of them

he was asked by comments made yesterday by treasury secretary jack lew. lew told me in the interview if dodd doesn't end too big to fail, more should be done. >> we need to use all the tools in dodd/frank to make sure we end too big to fail. if we get to the end of this year and we cannot, with an honest straight face, say we've ended too big to fail, we'll have to look at other options. senator warren, also calling for revival asked ben bernanke whether he agreed with what jarks lrk ew was saying. >> i don't know about the timing. maybe i take another year from now, but i said to you in another hearing that there is a strategy. dodd-frank lays out a strategy. bosil 3 provides additional support through capital, et cetera. but if those things do not make us comfortable about the status of these largest firms, yes, i do think additional steps would be appropriate. >> you remember lew yesterday laying out an aggressive timetable for implementing remaining parts of dodd-frank including the vocal rule. so lew telling other senators, especially those from his o

stock exchange and cramer and faber are at the hotel in new york city where you heard secretary jack lew saying he will speed up implementation of dodd/frank and hoping to have key elements in place this year, and meanwhile, the fed chairman about to testify on the capitol hill about the economy and saying that the bond tapering will begin this year, but not on the preset course. news from bernanke sending the 10-year to two-week lows and the futures are not moving a whole lot in ooeither direction, and m and david, the markets had to absorb a lot of information in a short period of time, and couple in the bank of america earnings and yahoo! last night and a lot to talk about today. >> tremendous amount, and one of the things that i want to point out here definitely is that i don't think that bernanke was trying to make any news. i literally think that he is saying to stay the course, and the 10-year did not do anything, and the futures ticked up, but it is going to revert to earnings, and i think that bank of america, and because i care so much about the net interest margin is the best

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that's where we're going to start this morning with the secretary of the treasury, jack lew. conversation friday afternoon. mr. secretary, welcome back. >> good to be with you. >> always good to have you. i want to talk about the broader state of the economy? just a minute, but first let me talk about a potential standoff again between the white house and republicans on capitol hill over the et

today, treasury secretary jack lew was asked specifically about the irs and its admitted targeting oftive groups. doug mcelway is live in washington for us. doug, if that's not a scandal, what does secretary lew call it? >> reporter: he calls it unacceptable behavior by career people at the irs, all of whom he said have been removed. he explained what the president meant by calling them phony scandals. >> i think that we have to look at the facts. there have been a lot of investigations, there have been a lot of hearings, igs, justice department. there's no evidence of any political decision maker who was involved in any of those decisions, and i think the attempt to try to keep finding that evidence is creating the kind of sense of a phony scandal that was being referred to there. >> republican senator mike lee from utah says republicans plan to keep on digging. >> we know when you put this much discretion and this much discretionary power in the hands of a few, eventually it may be abused for partisan political purposes. that happened here, we have to get to the bottom of it. >> you

jack lew appeared on multiple talk shows yesterday.comes as republicans are trying to shave billions of dollars on federal spending this year. peter barnes has the latest. peter: pushing for more spending and less austerity to kickstart the economy. it is setting up a major clash with house republicans this fall. they want to keep those sequester budget cuts going, but with a different mix. an increase in defense spending. the president is campaigning around the country for more stimulus spending and the administration says it will not negotiate on raising the debt ceiling. >> we are now arguing about the composition. they want us to build a better future for the american middle class. >> one republican analyst says there is no way they will agree to raising the debt ceiling without more spending limits. >> they are willing to lower their expectations a bit. i think we can have a mini deal this year that raises the debt limit and starts to bring entitlement spending under control, or at least starts to slow the growth. peter: the presi

treasury secretary jack lew called to do more to tighten cyber security. >> those who participate including innovators and the holders of property are preserved and government-sponsored intrusion. >> the vice president said chinese leaders should play a more responsible in world affairs. china said they would never undermine the national interests. >> translator: misunderstandings and differences of opinion are causing friction in the economic interests of both countries. we use dialogue to minimize countries and avoid turning trade problems into political issues. >> u.s. and chinese leaders launched the dialogue in 2009. they hoped to manage the relationship between the world's two largest economies. u.s. and chinese firms not only compete, but depend on each others. investments surged nearly times over years and many of those firms are being abouting fixtures in the u.s. economy. >> this is a city of detroit in the midwest. it's for the country's old manufacturing industry. more have expanded into detroit. the local auto parts makers have bought out. this group has been that is rapidly gr

jack lew kicks it all off at delivering alpha.of his road map of financial regs and he sits down with steve liesman. starts live on squawk box 8:25 a.m. and we'll kick off a very busy day. >> let's get to john harwood with breaking news in washington. john, i imagine this has something to do with cordray at the cfbp. >> it does. speaking of dodd/frank, jack lew will have some good news to talk about tomorrow with steve liesman which is that the senate has just moved forward to final consideration of richard cordray to head that agency by 71-29 vote. 17 republicans joined with their democratic colleagues. this is the first sign of that deal that was just reached to avert the so-called nuclear option. republicans agreeing to let that go forward. they're going to let go forward the nominees for epa and labor secretary. the concession by democrats was the white house in consultation with labor is going to send up two new nominees for the national labor relations board to replace two whose recess appointments had been declared illegal

. >>> with another fight over the debt limit looming, treasury secretary jack lew joined request meet the press" to get a deal done. >> the fight in 2011 hurt the economy even though in the end we saw an extension of the debt limit. e we saw confidence fall and it hurt the economy. congress needs to do its job. it needs to finish its work on appropriation bills. they cannot fix the problems created by across the board cuts known as sequestration by cutting domestic priorities to fund defense. that's unacceptable. >> congress has until september 30th to strike a new agreement to fund the government to avoid a potential shutdown. >>> senator tom coburn is speaking out against a group of fellow republicans who raised the idea of withholding funding unless obama care is defunded. he said supporters of the idea are being dishonest adding it's a denial of reality. senator mike lee, who along with rubio, paul and cruz, is leading the effort to stop obama care, admitted the government will likely get its funding while adding it's a compliment to receive criticism on both sides of the aisle. a

treasury secretary jack lew kicks it off in the 8:00 hour. right now though, there's more "power lunch" after this break. surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. >>> the big mac heads to ho chi minh city. mcdonald's is planning to open its first restaurant in vietnam early next year. it's the latest u.s. name to open up shops following the likes of pizza hut, kfc, subway and starbucks. and get this. the person that was awarded the franchise just happens to be the son-in-law of vietnam's president. funny how that works, sue. >> isn't it funny the way that works. i'm sure it's just a coincidence, michelle. all right. tesla taking a big hit today down 9%. goldman sachs setting a new price target. set 11% actually. setting a new price target for the electric car-mak

treasury secretary jack lew called on chinese leaders to do more to tighten cyber security. >> those who participate in the global economy including innovators and the holders of inte lengt wal property are preserved and protected from government sponsored cyber intrusion. >> u.s. vice president joe biden said chinese leaders should play a more responsible role in world affairs. china's vice premier said they would never undermine their national interests. >> translator: misunderstandings an differences of opinion are causing friction in the economic interests of both countries. we use die tlog minimize conflicts and avoid turning economic and trade problems into political issues. >> u.s. and chinese leaders launch the u.s./china dialogue in 2009. they hope to manage the complex relationship between the world's two largest economies. >>> egyptian authorities are escalating their crackdown on supporters of ousted president mohamed morsi. prosecutors accuse the supporters of inciting violence that has left more than 50 people dead. egypt's state-run news agency says the prosecutors hav

treasury secretary jack lew

jack lew weighed in on the latest talk of a possible government shutdown. >> congress needs to fund the kinds of things that the american middle class need and we need to get. the debt limit extended in a way that doesn't create a crisis. >> the president will go to the brink if necessary? >> david, drawing this to brinksmanship is a mistake. it's bad for the economy. >> he's still working on his signature. >>> paul ryan says that a vote on immigration reform in the house may not happen until october. >>> and hillary clinton's life story is headed to tv. nbc will produce a four-hour mini series about the former secretary of state ahead of the 2016 presidential election. diane lane will be starring as the first lady. the role of bill clinton has not yet been cast. that's your morning dish of scrambled politics. >>> heavy rain in philadelphia broke the record for one-day rainfall on sunday. over seven inches of rain fell within four hours causing road closures and flooding throughout the city. . a flash flood warning has been issued for areas in pennsylvania and delaware. meteorologist bi

that is what jack lew wants to do. the deadline is 5:00 p.m. joe's going away? this is a big media story today. pain in the workplace. did you know that hundreds of billions of dollars reportedly is lost every year and productivity in healthcare costs? the good news is, there is something we can do about it. those stories and more right here on markets now. ♪ connell: all right. the dow is down 32 this

treasury secretary jack lew saying there would be no bailout for detroit. he told analysts that bankruptcy is something detroit will have to work out with its creditors without the them of the federal government. as the summer vacation season charges ahead, drivers should be bracing for more pain at the pump. according to the lund burg survey, gas prices jumping eight cents a gallon in the last two weeks. the average regular price of gasoline $3.67 a gallon, 17 cents more for the price of gas during the same period a year ago. you guys are in the $4.00 a gallon range? >> yes, lucky us. >> painful. >> very painful out here. >> pain! pain! >> but we do have the nice weather. have a great monday. >>> after years of stalemate, israeli and palestinian negotiators are expected to formally resume official peace talks today. state department announced last night senior negotiators representing israeli prime minister benjamin netanyahu and palestinian president mahmoud abbas. it comes after israel's cabinet agreed to release 104 palestinian prisoners convicted of de