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American Morning
Senate to Consider President's Jobs Bill; Occupy Wall Street Demonstrations Continue; Ron Paul Wins Values Voters Summit Straw Poll; Helping Foster Kids Find Work; Americans Win Nobel Economics Prize; Senate to Vote on Jobs Bill; "Occupy Wall Street" Movement Growing; Missing Baby Search; The Future of the World's Oil; U.S. Household Incomes Fall; Smaller Needle Makes Flu Shots Less Painful; Senate Expected to Vote on President's Jobs Plan
Aired October 10, 2011 - 06:59 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CHRISTINE ROMANS, CNN ANCHOR: President Obama gears up for a Senate showdown over his jobs bill, but is this president fighting a losing battle?
CAROL COSTELLO, CNN ANCHOR: It could be a winter without NBA basketball. League and union officials meeting for six hours last night. They'll try again this morning to end a labor lockout that's now threatening the first two weeks of the season.
ROMANS: Easing your pain. If you're getting a flu shot this year, here's the good news. It might not be as painful. We'll explain.
COSTELLO: Yes, right.
And wedding bells for Paul McCartney. The former Beatle tying the knot for the third time. Ringo was there. And we'll tell you why Barbara Walters was also on the guest list on this AMERICAN MORNING.
ROMANS: And good morning. It's Monday, October 10th. Happy Columbus Day. Markets are open, most banks are open. Schools are closed, though. Welcome to AMERICAN MORNING on this Columbus Day.
COSTELLO (on-camera): I think only kids get Columbus Day off these days.
ROMANS: I know.
COSTELLO: Yes. I don't know anyone who has the day off, but Happy Columbus Day, anyway.
For weeks President Obama turned up the heat on lawmakers pressing them to pass his $447 billion jobs plan, and so far that measure has gone nowhere. But soon that could maybe kind of sort of change. The Senate is expected to vote on the president's plan this week. Brianna Keilar is live at the White House. Brianna -- we just lost Brianna. Lost somewhere in the --
ROMANS: She's working hard to figure out --
COSTELLO: No. I was going to say she's lost in all the political stuff that's going on in Washington.
(LAUGHTER)
COSTELLO: We'll get Brianna back. But in a nutshell, that jobs bill is supposed to be presented to the Senate today and they're going to decide how they're going to debate the jobs bill. So that's what's going on today. Brianna will be back soon.
ROMANS: We promise.
Meantime, it is day 24 of the Occupy Wall Street and anger is not letting up. Demonstrations breaking out in over a dozen cities including Philadelphia, Chapel Hill. In Washington about 100 protesters marched outside the White House and police used pepper spray to stop demonstrators from storming the lobby of the Smithsonian Air and Space Museum. I still don't understand what the mu museum has to do with Occupy Wall Street.
Meantime, on Capitol Hill, battle lines are being drawn, Democrats embracing the movement with the Republicans roundly rejecting it.
(BEGIN VIDEO CLIP)
HERMAN CAIN, (R) PRESIDENTIAL CANDIDATE: It's class warfare. Some of them are there because they don't have a job, yes, but the fact of the matter is, why aren't there jobs? Go and picket the White House. Demonstrate in front of the White House.
NANCY PELOSI, (D-CA) HOUSE MINORITY LEADER: When we said everyone should pay their fair share, the other side said that's class warfair. No, it's not. It's the most endearing American value -- fairness. It's about everyone paying their fair share.
(END VIDEO CLIP)
ROMANS: More demonstrations are planned for today on Wall Street. And here's something else to watch out for -- Anonymous, a collection of online hackers, promising an internet attack on the Web site. They want to crash that this afternoon at 3:30. The website, different from the trading platform, I'll point out. It's a website. We'll see whether they're successful at that, and you think you know why --
COSTELLO: Protesters in Washington were, went inside the Air and Space Museum in Washington, because they had a drone exhibit inside the museum. So there were anti-war protesters that went in to protest, and they took with them some Occupy Wall Street protesters. So all a part of that and they went inside and that made people very nervous, and security took the pepper spray out and it got really ugly really fast.
ROMANS: I couldn't figure out the connection between Wall Street and corporate greed and a free museum for the benefit of science and -- I couldn't figure that out. I get it.
COSTELLO: There are so many protest going on in Washington, sometimes they all join forces. In this case apparently they did.
(LAUGHTER)
COSTELLO: Another straw poll victory for Ron Paul, the Texas congressman tallying 37 percent of the votes in Saturday's Value Voters Summit in Washington. The poll is sponsored by the Family Research council, a social conservative group. Herman Cain finished second, 14 points back with Rick Santorum placing third. In five minutes we'll be joined by Tony Perkins, president of the Family Research Council and ask him why he's actually dismissing the results of his own straw poll.
ROMANS: All right, deadly violence in Egypt. At least 23 people killed in clashes that pitted Christian protesters against Muslims and the military in Cairo. It's the worst violence since the toppling of Egyptian President Hosni Mubarak back in February.
COSTELLO: In Libya fighters loyal to the transitional government say they've reached the final stages of the fight to take control of Sirte, Moammar Gadhafi's hometown and one of the last remains Gadhafi strongholds. The fighters captured a conference center in Sirte that was used at Gadhafi's security headquarters.
ROMANS: The clock is ticking on the NBA season. League officials and union leaders met for six hours last night trying to end a lockout that now threatens to cancel the first two weeks of the regular season. The two sides reportedly agreed to meet again this morning.
COSTELLO: The Dream Act now a reality in California. Governor Jerry Brown signed the measure into law over the weekend. It could mandate more than $14 million a year in state grants to help illegal immigrants pay for college.
ROMANS: And all you need is love. Paul McCartney married his girlfriend in London yesterday. Married the same place where Sir Paul wed his first wife Linda, who died back in 1998. Ringo Starr, Barbara Walters were on hand to celebrate. It's McCartney's third marriage, her second. Her gown designed by his daughter, Stella McCartney.
COSTELLO: Which means she's embracing this new bride.
(WEATHER BREAK)
COSTELLO: Now a closer look at the Values Voters Summit in Washington. It was held by the Family Research Council. That's a social conservative group. And the weekend got off to a rousing start on Friday night when a prominent Texas pastor criticized Mitt Romney and his Mormon faith why introducing Texas Governor Rick Perry.
(BEGIN VIDEO CLIP)
ROBERT JEFFRESS, PASTOR: The Southern Baptist Convention which is the largest Protestant denomination officially labeled Mormonism as a cult. I think Romney's a good, moral man bun those of us who are born-again followers of Christ should always prefer a competent Christian to a competent non-Christian like Mitt Romney.
(END VIDEO CLIP)
COSTELLO: Joining us from Indianapolis to talk more about Reverend Jeffress' remarks about Mitt Romney and the Mormon faith, and Ron Paul's victory in the Value Voters straw poll, is the president of the Family Research Council Tony Perkins. Welcome.
TONY PERKINS, PRESIDENT, FAMILY RESEARCH COUNCIL: Good morning, Carol.
COSTELLO: Mitt Romney did not fare well at this summit. Not only was his religion called a cult, he did not fare well in the value voters straw poll. Last time around he actually won. This year the winner was Ron Paul? I mean, Ron Paul is not exactly well known as a Christian conservative.
PERKINS: Well, first off, those comments by Pastor Jeffress were not said from the stage. It was a side bar conversation he had with pastors -- or rather with reporters.
And this -- has we're doing here is, I don't want to go also the fact there are theological differences between evangelicals and Mormons, but certainly was not the focus of the values summit and we're not trying to build a national church. We're trying to build a coalition across this country based on values. Mitt Romney articulated those values this year.
He's not been working them as hard as he was four years ago, which is reflective in the poll. Ron Paul -- let me say this. We have over 3,000 people registered for the event. Over 600 showed up Saturday morning just to hear Ron Paul's speech. Vote for him, and then leave. I think -- I don't want to take away the credit due that organization, that campaign for getting people out of bed early on a Saturday morning. I wish I could get my kids out of bed that early. But they came down, they voted, they left. I don't think Ron Paul is truly reflective of what value voters stand.
COSTELLO: So you're saying your own poll results don't mean anything?
PERKINS: Well, no. I actually say, you know -- when you look at statistics, statisticians look for outliers in the poll. I think Ron Paul's is an outlier in this poll. You see Herman Cain finishing a strong second followed by Rick Santorum, Michele Bachmann, and Rick Perry. Those are more reflective of the other polls and what's happening in the social conservative community.
COSTELLO: So Ron Paul probably means nothing, but Herman Cain does?
PERKINS: Well, the majority of people came there for the weekend for a summit, to hear all of the candidates. They didn't come there to support a particular candidate. They came to listen to the candidates and express their preference. Ron Paul bused in over 600 people Saturday morning not to attend the conference but just to hear his speech and vote.
They all paid their registration fees. It's an open invitation. Anybody can come, but individuals have to register and they did that. The campaign tried to buy blocks of tickets early. We refused to sell them blocks of tickets, so they brought in independent.
I give them credit for being organized. I do say, like we're seeing on Wall Street and other parts of the country, we should not discount there is a lot are discontent with big, ineffective government that's taking place in the country and the Ron Paul campaign reflects that. You can't write it of saying it's not important. The message the campaign is sending is something other campaigns have to listen to as well.
COSTELLO: I wanted to talk a little more about Herman Cain because, as you said, he did well at the Values Voters Summit. He came in second, we've been talking about that. He also told the Christian broadcasting network that god has play add role in his success and has been guiding him since the start of his campaign. I wanted to get your thought on other comments that Herman Cain has made. Let's listen.
(BEGIN VIDEO CLIP)
CAIN: If you are envious of somebody that happens to be rich, that you call a fat cat, go and get rich instead of expecting them to walk outside of their office and write you a check. That's not the way America works. Work for it.
(END VIDEO CLIP)
COSTELLO: And, of course, Herman Cain was talking about those protesters taking part in Occupy Wall Street. Some might believe those aren't very Christian views. Are they?
PERKINS: I haven't read the words "fat cat" in the bible, but I think the principle is there. He is a success story. If you look at his life, how he has grown up and how he was successful in the business world, and those principles of hard work, of faith, of following the teachings of scripture and Jesus Christ, he is an example of that, and I think it's reflective in this success.
This was not the first time he's been to the Values Voters Summit. He's been there before and has always got a very warm reception. The reception he got this time was overwhelming. He had people on their feet because he give a great speech, and you know, I think there's something to be said about his results in his straw poll.
COSTELLO: I guess what I'm centering on -- our economy is in a mess. There are people who cannot find jobs, because we have a 9.1 unemployment rate, and big companies aren't hiring. So to say that people are out there protesting because they're not working hard enough, or they're not trying hard enough to find a job, or their envious of others who have jobs is -- is that wrong or right? PERKINS: Well, I think in talking to Herman and listening to his in the broader context, what he's talking about is really a mindset driven in Washington, D.C. that somehow government is going to create jobs by telling businesses to hire people. It doesn't work that way, and he knows that because he did that.
What you do is you create an environment that fosters economic growth so businesses can hire, by limiting regulations, lowering the taxes. And I think what he's saying is there's a mindset that somehow businesses owe people an opportunity or owe them a job. Look, this is the land where you create opportunity, and he created opportunity for himself, and that message is resonating with people.
COSTELLO: As far as your organization and you personally are concerned, how would you characterize the people protesting on Wall Street?
PERKINS: I think that our leaders in this nation need to pay close attention to what is happening, because I think there is growing discontent on both sides of the political spectrum. You have the Tea Parties, you have these demonstrations on Wall Street. But when you combine it all together, America is a very divided country, and there's policies that continue to divide us even further. And we've got to bring the country together. But we've -- we've got to do it by getting government under control -- government spending under control that is damaging our economy, and the ability to give people opportunities in jobs, by allowing business to do what business does.
COSTELLO: And just one more question about these protesters. Do they have a point when they point to Wall Street? Can you see their point?
PERKINS: Well, I think when you look at the overall culture and what happened on Wall Street and big business a few years ago, look, I am a strong supporter of capitalism. I think it is the -- it is the best approach to growing an economy, but capitalism guided by morality, and when we have a breakdown in morality, capitalism goes awry, and we've seen that in recent years. So morality is a part of this discussion.
That's why we say, when we talk about creating jobs we cannot -- we cannot avoid the values issues, because we don't want capitalism unbridled by morality.
COSTELLO: Tony Perkins, thanks so much for being here with us this morning. We appreciate it.
PERKINS: Thanks, Carol.
ROMANS: Wow. What a great conversation.
You know, in the Bible there are so many really interesting and famous phrases. Many of them contradictory, of course, but one of them is, it's easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of heaven. So they don't say fat cats in the Bible, but there are plenty of sort of little phrases and parables about fat cats nonetheless. Interesting.
All right. Still to come this morning, once an invisible population, young adults aging out of foster care are now getting the help they need to find a job, to change their future and create a new one. I'll have that story for you.
(COMMERCIAL BREAK)
ROMANS: Did you know there are more than 400,000 kids in the U.S. foster care system? About 30,000 age out of the system every year and they're suddenly faced with having to find work to support themselves.
As you know, though, jobs are scant. Competition is tight. So now there are a handful of new programs helping these young adults get ready for the working world.
(BEGIN VIDEOTAPE)
ROMANS (voice-over): Raven Profit was 15 when she entered foster care after her mother was diagnosed with schizophrenia. She knows how difficult it can be for foster children to think about the future, let alone a career.
RAVEN PROFIT, YOUTH AMBASSADOR, NEW YORKERS FOR CHILDREN: They really don't have, you know, role models of parents to look up to and actually, you know, gain advice from or, you know, how to put together a resume or how to conduct themselves in an interview.
ROMANS: She's now a student at the University of Albany, studying Biology and Women's Studies. She wants to be a role model for other foster children. She's a youth ambassador for career workshops like this one.
PROFIT: I learned how to be punctual. I learned how to be professional.
ROMANS: A three-state study found former foster care youth are more than three times as likely not to have a high school diploma or a GED. Foster kids are even less likely to earn a college degree, and they're more likely to end up on the government roles.
Three-quarters of women and one-third of men who have aged out of foster care received benefits like food stamps and housing assistance. It's a tough cycle to break.
GARY STANGLER, EXEC. DIR., JIM CASEY YOUTH OPPORTUNITIES INITIATIVES: Veterans and young people leaving foster care are the two largest pipelines to homelessness among young adults in this country.
ROMANS: For those young adults who age out of the system, suddenly being on their own can be difficult.
PEDRO RODRIGUEZ, JOB SEEKER: Right now I'm actually looking for any job that's hiring at the moment. I just need to be financially stable at the moment.
ROMANS: Tom Hilliard is the author of a new study on employment and former foster children. These kids, he says, need mentoring and jobs programs.
TOM HILLIARD, SR. FELLOW, CENTER FOR AN URBAN FUTURE: Any teenager who gets into a difficult work situation could just say the heck with this and then walk out. But what if you knew that you were going to be taken care of and nobody was going to say a word to you about it? Well, then you're a lot more likely to walk out, aren't you?
ROMANS: Raven Profit says mentors she met in her early teens put her on the right track and that's why she wants to help others.
PROFIT: I was blessed to have a -- a great support system and a lot of programs, so I feel like that's important. Well, you know, are vital to youth in foster care.
(END VIDEOTAPE)
ROMANS: Raven Profit is a real inspiration. She's paying it forward to try to help other kids. About 150 of former and current foster children attended this New Yorkers for Children Career Workshop. It was co-sponsored by BNY Mellon. These kids had a chance to meet with career coaches, prospective employers.
For more on careers for teens and young adults, you can check out all of this in my book, "Smart is the New Rich."
Because, Carol, it's so difficult. Because when the economy is thriving, there's just more opportunities for everyone. But I've been seeing in so much on my reporting, these circles -- circles of people closing in and helping each other trying to get the skills so they have a little more of a competitive advantage. And it's working for some people, like Raven, it's really working.
COSTELLO: Well, right now, it's the only thing that will work if we --
ROMANS: Yes.
COSTELLO: -- try together and actually help one another instead of protesting against one another.
Still to come this morning, a desperate search goes on for a 10- month-old girl who was snatched from her crib. We're live in Kansas City, just ahead.
(COMMERCIAL BREAK)
ROMANS: Good morning. "Minding Your Business."
It's Columbus Day here in the U.S., but Marcus and most banks are still open for business. The focus, though, remains on Europe's banking crisis and efforts by France and Germany to contain it. Right now, U.S. futures are pointing to a higher open this morning. And that's because European markets are leading the way higher after German Chancellor Angela Merkel and French President Nicolas Sarkozy said Sunday that they have come up with a plan to fix the eurozone. Part of that plan includes recapitalization of some of the E.U.'s biggest banks.
More details about this plan will be available in full later this month.
People are wondering also if nationalization could be part of the answer to the banking crisis there, especially after the bank Dexia secured a bailout this morning from the French, Belgian and Luxemburg government. The bailout is worth about $121 billion. Never heard of a bank Dexia? Well, it's significant to you because in the U.S. Dexia has been a big backer in the U.S. of many local U.S. government bonds and loans.
Gas prices are dropping at least in the past month or so. The average price for a gallon of gas is down about 24 cents over the past month. The main reason, of course, decreasing oil prices. As of this morning, the national average is $3.42 a gallon.
Sony has reportedly bought the rights to make the authorized biography of Steve Jobs into a movie. This is according to the "New York Times." The book titled "Steve Jobs" by Walter Isaacson is set to be released on October 24.
Don't forget, for the very latest news about your money, check out the all-new CNNMoney.com.
AMERICAN MORNING will be right back after a very quick break.
(COMMERCIAL BREAK)
ROMANS: It's 31 minutes past the hour. Top stories, two Americans have just won the Nobel Economics Prize. Researchers Thomas Sargent and Christopher Sims are being honored for their research regarding the cause and effect in macroeconomic.>
COSTELLO: Congratulations. The Senate is expected to hold a critical vote this week on President Obama's jobs bill, but it's expected to get fierce opposition from Republicans. House Budget Committee Chairman Paul Ryan says the president knows his bill is doomed.
ROMANS: The "Occupy Wall Street" movement is spreading quickly across the country, demonstrations breaking out in more than a dozen cities. In Washington, one arrested was arrested during a protest outside the White House. Police used pepper spray on those who tried to storm the Smithsonian Air and Space Museum.
COSTELLO: It's been over a week now since 10-month-old Lisa Irwin disappeared from her crib in the middle of the night and police in Kansas City still have no solid leads. The parents are again talking to police in trying to raise community awareness. ROMANS: CNN's Ed Lavandera is following developments. He's live in Kansas City. It's been a week now and this baby girl is still missing. The parents are talking again, or at least they're working with investigators. Why were they not for a while?
ED LAVANDERA, CNN CORRESPONDENT: Well, this is kind of the -- the part of the story that has really overshadowed the tragedy that is the disappearance of 10-month-old Lisa Irwin. On Thursday, Kansas City police had come out and talked how the parents were no longer cooperating with investigators in a series of interviews with morning shows last week.
The parents of Lisa Irwin talked about how they had kind of been tired of the gruelingness of those interviews with investigators. Her mother had actually said that police told her she had failed a lie detector test.
We've spoken with several family members over the weekend and got the sense from them, Christine, that they are tired of just sitting there in that police station undergoing the grilling from authorities.
They wanted to figure out another way of being able to help them. What we got from family members.
However, all of that overshadow wasn't until Saturday night the family finally started meeting again with investigators. We understand they met Saturday night and they've also met on Sunday as well as other family members have kind of fanned out across the area passing out flyers for Lisa Irwin.
But this is really -- that drama between the parents and the police detectives overshadowed the tragedy that is the story that we are now a week into the vanishing of little Lisa Irwin disappeared from this home. Yesterday afternoon, investigators came back out to this house.
They were seen crawling -- it was this window right here on the edge of the house. Investigators crawling through that window trying to re-create perhaps what they believe might have happened here when Lisa Irwin vanished last week.
But as you mentioned off the top that the real story here is despite the drama between the parents and investigators, police admit they have no leads where Lisa Irwin might be -- Christine.
ROMANS: And they think the baby was taken through this window. Are they saying they think this wasn't abduction or are they focusing on the family? Many times the first step for investigators and maybe this is why those interrogations were so grueling. The first step for them is to really rule out the family?
LAVANDERA: Absolutely. And investigators will tell you that, look, when you have no leads like that, everything is on the table. And that's what they have told us here over the last few days. Every possibility, every scenario is on the table. The thing they've been out here searching with metal detectors throughout the yard and in areas around this neighborhood. There are many, many different scenarios that might be on the table, possible explanations, and obviously, the first one that they look at most intensely is the parents especially the mother was the one home with the children when that happened.
The father was working and overnight shift as an electrician. He was the one that came home about 4:00 in the morning last week. He was the one that discovered Lisa Irwin was no longer in her crib. So as I mentioned, the cops say they have no leads, they have no idea what could have happened in this case. So everything and every possibility is on the table -- Christine.
ROMANS: All right, Ed Lavandera. Thank you so much, Ed.
COSTELLO: Now's your chance to "Talk Back" on one of the big stories of the day. The question for you this morning, why is Herman Cain surging in the polls?
Imagine a 2012 presidential race that pits Barack Obama against Herman Cain? Wow. Anything is possible. Many political talking heads poo-poo the polls though saying Cain is the flavor of the week. But something about Cain resonates. He's a self-made man who had this to say about the high black unemployment rate.
(BEGIN VIDEO CLIP)
HERMAN CAIN (R), PRESIDENTIAL CANDIDATE: I don't believe racism in this country today holds anybody back in a big way.
(END VIDEO CLIP)
COSTELLO: And, boy, does he like to work a room.
(BEGIN VIDEO CLIP)
CAIN: I would bring a sense of humor to the White House because America is too uptight.
(END VIDEO CLIP)
COSTELLO: No doubt that's true. Herman Cain's been on TV saying among other things, quote, "I can eat black walnut all the time." it's not a flavor of the week. And this --
(BEGIN VIDEO CLIP)
CAIN: I don't mind if they call me crazy. If we are not in it to win it, we will not be in it. Mitt Romney. Good hair.
UNIDENTIFIED MALE: Really? That's the first thing you can say about him?
CAIN: I don't have an opinion, right?
(END VIDEO CLIP)
COSTELLO: Cain also has what sounds like a simple solution to our economic woes, 999, anyone?
(BEGIN VIDEO CLIP)
CAIN: The 999 plan, 999, 999. My 999 plan.
(END VIDEO CLIP)
COSTELLO: As in 9 percent income flat tax, 9 percent sales tax and a 9 percent business flat tax. Many economists say 999 would hurt poor people and retailers, still, 999 is catchy, as is Herman Cain.
So the "Talk Back" question today, why is Herman Cain surging in the polls? Facebook.com/americanmorning. I'll read your responses later in the hour.
ROMANS: All right, still to come this morning, the oil industry has helped reshape the modern world, but are we risking running out of oil? We're going to talk to the man who created what essentially became the guide to learning about the oil industry. He has a new book, 800 pages. I'll give you the condensed version.
COSTELLO: Thank you. And if you plan on getting a flu shot this season, there may be something to look forward to, really. I'm not kidding. It will be fun this year. It's 37 minutes past the hour.
(COMMERCIAL BREAK)
ROMANS: Welcome back. There's a lot of uncertainty when it comes to the global economy. We don't need to tell you that, right? The fuel that runs the global company, oil, has seen prices rise to near record levels earlier this year and then fall pretty dramatically again.
Joining me now to talk about the shift in prices and whether the world's at risk of running out of oil, Daniel Yergin, author of "The Quest: Energy Security and the Remaking of the Modern World."
Your book is prized as really a guide to the economy and how it is driven by this commodity that is oil. "The Quest" is equally large and consuming book about oil and I wanted to ask you, five years now, sir, you've been writing this book. A lot has changed in the world in five years. Hasn't it?
DANIEL YERGIN, AUTHOR, "THE QUEST": Everything from the rise of China and return of the electric car to the terrible nuclear accident in Fukushima Japan and this Arab Spring that continues to unfold.
ROMANS: Let me ask you first about China because it barely got a mention in the prize and so much has changed. It's got two full chapters in "The Quest." Tell me about China and the way China scours the globe for natural resources in a way that's different than other developing countries do and what kind of challenge that may be for the United States.
YERGIN: Well, there are two things. One is China is so big and secondly, it's growing so fast. The Chinese are very pre-occupied with their need for energy and looking at everything from oil to renewable energy.
And certainly they're out in the world now seeking to be a major oil power along with the United States and Europe. And in some parts of the world they are very active. I don't think it means there's a collision between the two countries, but it's something we have to watch carefully.
ROMANS: Also I think it's a reminder that the United States needs to have multiple sources of energy, right? I mean, you've got, as much oil as there is that we can get, and you can debate whether we've seen the peak in oral or not. But there's no question we're consuming more energy and the world is consuming more energy.
So what does that mean for the U.S. and its strategy to try to diversify a little bit? Because if you look at for example, solar, the United States starts getting into that and then there's the controversy that China's already spent hundreds of billions of dollars developing solar. In fact, putting American businesses out of work?
YERGIN: Well, the Chinese have their great competitive advantage in terms of manufacturing. But indeed, one of the arguments about "The Quest" is it's not just about oil, but it covers a whole energy spectrum to we can see how these things fit together.
The reason, the basic reason for that is what you say, that really our energy security, the wealthing of our economy depends upon a diversified portfolio of energy sources and not thinking there's just one silver bullet out there.
ROMANS: A little bit of everything. We need oil, natural gas, renewable, right? Electric vehicles, we're talking about this again. Tell me, draw the -- draw the threat around all of these things and what we need to do to have a viable economy in such an uncertain world?
YERGIN: Well, I think in the case of the United States it's very interesting. I think actually our oil consumption is going to go down because for a number of reasons. Actually, our imports are down, because we've kind of reached the peak level of oil use and can you only drive one car at a time basically and our car fleets, we get more efficient.
At the same time, we see this beginning of the electric car. I think one thing that ties it all together is being more efficient on how we use all of these energy sources and the others continuing to promote innovation all across the energy spectrum.
One of the really surprising things is actually to see that U.S. oil production is going up, which most people expect it would never happen again, and our imports are actually going down, which is good news for the United States, and our economy. ROMANS: Talk to me a little about the Arab Spring because this is a region of the world where I think 60 percent of proven reserves are right there in the lands consumed by the Arab Spring, yet you've got prices that -- gas and oil prices actually doing down. Explain that to me.
YERGIN: Well, in the short term what's happening is that the price of oil is really responding to what's happened to the world economy, and the expectations of a slower economy and indeed the slowdown we're seeing in Europe and even the kind of delays in our economy today.
But as you point out, 60 percent of world oil reserves are still concentrated in the Middle East, and what the Arab Spring, we're now into autumn, but the Arab Spring has brought many changes which are still to unfold.
One of the things it's also done is the strategic balance that underpins the stability in the Middle East and that will be reflected and continued to be reflected in the price of oil as we go forward in the future. In other words, a higher uncertainty.
ROMANS: All right, Danny Yergin, the book is called "The Quest: Energy Security and the Remaking of the Modern World." It's 800 peaches of must-read. Thank you, sir. Nice to see you.
YERGIN: Thank you.
COSTELLO: Still to come this morning, if needles make you squeamish, have we got at flu shot for you. Medical correspondent Elizabeth Cohen will have details.
ROMANS: And today's "Romans' Numeral," $49.909. Just a little 50 grand. Here's a hint, the recession's toll on your piggy bank. It's 44 minutes after the hour.
(COMMERCIAL BREAK)
(BEGIN VIDEO CLIP)
CHRISTINA AGUILERA, SINGER: Hi. I'm Christina Aguilera and we can make an impact on world hunger. After I had my son, Max, I realized this was a huge issue and went on a trip to Guatemala with the World Food Program and saw women and children living in these dirt huts that have nothing. It's just so crucial and vital for these people to get nutrition.
Haiti was devastating, because of the earthquake. I got it meet so many young people that were just so eager to learn and you see they're faces light up. Every child deserves the chance to dream and to hope.
Join the movement. Impact your world. Go to CNN.com/impact.
(END VIDEO CLIP)
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COSTELLO: Forty-eight minutes past the hour. Welcome back to AMERICAN MORNING. Here's what you need to know to start your day.
The president's jobs bill comes up for a vote in the Senate this week, but fierce Republican opposition to both the bill and how it's paid for may prevent it from getting the 60 votes needed to passed the bill in its current form.
Occupy Wall Street protests breaking out this weekend in Houston, Atlanta, Miami, Denver, San Diego, Sacramento and many other locations, including Washington, where one demonstrator was arrested outside the White House for throwing a shoe at a uniformed police officer.
The NBA season is now in jeopardy. League officials and union leaders met for six hours last night trying to end a labor lockout. The two sides agreeing to meet again this morning, with the first two weeks on the season on the verge of being cancelled.
The Milwaukee Brewers take game one of the National League Champion Series. The Brewers erupted for six runs in the fifth inning in route to a 9-6 win over the St. Louis Cardinals. Game two tonight --
(LAUGHTER)
COSTELLO: -- in Milwaukee.
A California teenager will have to find another way to get that all-over tan. Governor Jerry Brown signing legislation that bans ultraviolet tanning for those between the ages of 14 and 18 because of concerns it increases the risks of cancer.
You're now caught up with the day's headlines. AMERICAN MORNING back in 60 seconds.
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ROMANS: All right. This morning's "Romans' Numeral," a number in the news today. That number is $49,909. It is a bench mark below $50K. That's the median household income between June 2009 and June 2011. According to the U.S. census, in the two years following the recession, household income fell 6.7 percent.
Actually, Carol, after the recession, household income fell more than during the recession. It's a story a lot of people are talking about today in "The New York Times." If you follow me at ChristineRomans, you can see I just put a link in there.
COSTELLO: Yes, kind of depressing isn't it?
So, let's talk about flu shots because that always perks people up, doesn't it?
(LAUGHTER) ROMANS: From household income to getting a shot. Sorry --
COSTELLO: No, this is a better kind of shot for people who hate needles. And you know who you are. There's a new option for you in getting that flu shot this year.
ROMANS: And hold the pain or at least most of it. That's what Elizabeth Cohen is going to tell us.
One thing that's so interesting about getting a shot, they always say, OK, this is going to feel like a bee sting. A bee sting really hurts. And this is actually worse.
Elizabeth Cohen, is it going to feel like a bee sting or is it not going to hurt this time?
(LAUGHTER)
ELIZABETH COHEN, CNN SENIOR MEDICAL CORRESPONDENT: Christine, I haven't been stung by a bee in so long, I couldn't make that comparison.
(LAUGHTER)
But I got my flu shot here at work two days ago, and it's such a big nothing. And we should be happy. We should celebrate flu shots. We really should, because that means we won't get sick and some of us won't die because of flu shots. That is a wonderful thing.
And something more to celebrate, this is your traditional flu shot. You see how long? That's pretty long and pointy right there. That's the traditional one. There's a new one that is out this year. OK, this will make you happier. You can't even see the needle, I bet, when I show you this. It is so small, I can barely see it, and it's right in front of my nose. It is about -- the length of this needle is about the width of a quarter. It only goes into your skin. It doesn't go into your muscle. So it is obviously less painful than this long guy I have here in my right hand.
So it's not available everywhere because they didn't make that many of them for this season. But it is something that will continue to be available, and hopefully in larger numbers. Less painful, works just as well.
COSTELLO: OK.
(CROSSTALK)
ROMANS: Only Elizabeth Cohen goes to work with needles in her purse, right?
(LAUGHTER)
I have this syringe with me.
(LAUGHTER) COSTELLO: What about the nasal spray? Doesn't that work?
COHEN: I have that too.
(LAUGHTER)
Let me dig into my handbag.
(CROSSTALK)
COHEN: I can even spray a little. There you go. Whoop, there it is. I don't know if you can see that, but, yes, there's the mist. And this is also a flu vaccine. There are a couple of limitations on this, however. You can't use it if you're under age 2. You can't use it if you're over age 49. You can't use it if you have diabetes or asthma. And that's because the vaccine in here is actually live, whereas the vaccine in the shot is dead. So this is, you know, a great alternative for someone who wants it. It might cost you more. That's one consideration. Whereas the shot is, you know, pretty much anyone can take it.
COSTELLO: OK. Well, at least they have that new shorter needle.
(LAUGHTER)
Thanks, Elizabeth.
COHEN: Thanks.
COSTELLO: We appreciate it.
We asked you to "Talk Back" on one of the big stories. The question this morning, why is Herman Cain surging in the polls? It's amazing.
This from Erin, "If Herman Cain believes hard work is all you need to be successful, then why weren't his parents wealthy? He talks of how hard his father worked. By his logic, his dad should have been a captain of industry by his mid 30s."
This from Michael, "He's surging because Rick Perry has been condemned as a racist, Mitt Romney is a Mormon and people are not ready for a female president. Not to mention, most Americans do not participate in the primary."
This from Robert, "Herman Cain is surging in the polls simply because he's not our failing president. If it weren't Cain surging, it would be another Republican candidate. The strongest surge however is President Obama's lightening surge to the bottom, toward one-term irrelevance."
Ouch!
Keep the comments coming, Facebook.com/Americanmorning. We'll read more later in the 8:00 hour of AMERICAN MORNING.
ROMANS: So much further to go.
Bill Clinton, 20 years ago, didn't declare until October. And you think of how much politicking we have already had to this point, we have all of next year to go through as well. So it will be interesting to see what the polls tell us about the way people think.
COSTELLO: That's true. And remember, Rick Perry surged, and where is he now? At one point, Michele Bachmann was considered surging. Where is she now? So we'll see if the same thing happens to Herman Cain. But he seems to be quite popular at the moment.
ROMANS: Yes.
OK, still to come this morning, President Obama steps up pressure on Congress to pass that jobs plan. But will Congress sign off on any part of this, let alone, the whole thing? We're live in Washington.
COSTELLO: Plus, Mitt Romney's religion has become the talk of the campaign trail. Will it hurt his chances of winning?
You're watching AMERICAN MORNING. It's five minutes till the top of the hour.
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