Skip to main content

tv   Your Money  CNN  September 11, 2011 3:00pm-4:00pm EDT

3:00 pm
republican polls for president. >> he's a risk taker but a smart one. the bets he makes have paid off well for him. >> on the eve of perry's second gop debate, this one live on cnn, we'll break down his perceived strengths and weaknesses and other candidates as well. stay with cnn. when the president makes his arrival at the pentagon we'll also break into programming for that. meantime, your money starts right now. president obama wants $447 billion to create jobs. the president cause it a jolt not a system ytimulus. aly is off this week. the american jobs bill, a tax credit for hiring unemployed veterans and modernization of 5,000 public schools and tax
3:01 pm
credit for hiring long term unemployed and position to help refinance mortgages at low interest rates. steven, the white house is steering us told analysis from well known economist mark zandi who says this plan if enacted could create almost 2 million jobs. let me guess, you're skeptical? >> i'm friends with mark for a long time but he's been wrong. he's the one who said we would create 3.5 million jobs. an amazing statistic. i just looked up the numbers. we have 1 million fewer jobs today than we did in february of 2009 when we created the $800 billion stimulus plan. let me use a football analogy if i may. if you run the ball up the middle three times and you don't get any yards, on fourth down you don't run the ball up the middle and that's what the president is proposing. a lot of proposals you just
3:02 pm
mentioned were things in the original stimulus plan or payroll tax credit. we did that in january of this year. none of it has worked to create the kinds of jobs. >> ken rogoff, in order to find a solution let's make sure we understand the problem. simplest terms you can think of. why can't we create more jobs right now? >> there are two basic problems. we're in the worst recession, whatever you want to call it since world war ii and it's lasting a long time and of course there's the slow grinding overhang of our growing trade with asia, the growth of china, india, brazil. that also is hitting american jobs, particularly for lower educated workers. >> is it right to throw money at the problem right now in the near term? it sounds like you're talking about big structural issues in the economy. >> i'd like to see big structural solutions coming out of this crisis, coming out of congress and from the president
3:03 pm
they don't seem to agree on everything. i don't think it's wrong to necessarily try to at least not pull back the stimulus, that's what's going on right now. but think of this as like taking aspirin when you're pretty sick. it will make you feel a little better but it isn't a cure. >> we have a football metaphor and aspirin metaphor. it's cnn's chief political anl sift, two thirds of americans say creating jobs is more important goal for this administration than reducing the deficit. the president called for a joint session of congress to deliver the jobs plan. clearly he wanted the american people to view him as a leader on job creation. did he convince americans? >> we'll have to wait and see. he was talking to independent voters out there, the swing voters that are so upset about the fact that congress isn't able to get anything done. what the president was trying to do was to say to voters, look, i
3:04 pm
am the reasonable man. i'm laying down a gauntlet for congress. they can decide if they are going to take it or leave it. but if republicans out there decide that they don't want to take this package, they are going to have to explain to the american voters why. what was very important was the president said i'm going to take this on the road, which means the game is on here for the 2012 campaign. and he's clearly positioning himself ala harry truman against a congress, if he didn't act, they did nothing. >> preparing 35,000 schools and giving states more money to keep teachers in your kids's classroom, unemployed veterans. you go down the line and it's going to be hard for a republican seeking re-election to say i veeted against american veterans. >> i agree with a lot of what gloria just said.
3:05 pm
there's no question that jobs is priority number one. it's also true the voters want quick action. the frproblem is if you look at the last reelection, what was their central promise? we're going to stop the spending and stop the debt. so to then turn around and say we'll have to pass a half trillion new spending and debt bill, i'm no so sure that goes on very well with people who voted for these -- >> i agree. we were waiting for the other shoe to drop which was on september 19th when the president says he's going to lay down his plan for the super committee. and that is apparently going to include how to pay for this. the one interesting thing i heard from the president, which is that he's willing to take on his own democrats on the question of medicare reform. let's see how far he goes with that. >> i've been in washington for 28 years. you've been in this town for a long time. the one promise that is always
3:06 pm
made that is always broken is that we're going to spend now and save money later. we never do that. we've been doing that since the late 1970s and that's the reason we have a $15 trillion debt. the president is going to say we're going to cut spending two presidential elections from now. who believes that. >> let me bring in ken. people say they want to balance the books and live within our means until they realize the entry country has been built on living beyond our means. when budget cuts mean jobs then they change their tune a little bit? >> they certainly do. americans have wanted lawyer taxes and more spending for a long time. now they say they want to have not so much debt but still want lower taxes and don't want to cut the spending too much. i think it is a very angry populist. i think a hard thing for the president as he tries to present a rational plan to this very
3:07 pm
angry voters quite unpredictable. >> do you think this would create jobs if the president in some idea world, if he were to get the whole thing through, would it create jobs? >> i think it would create some jobs, putting a number on it is hard. i don't think there's any question that the awful debt negotiations and debt deal over the summer sort of overdid it in the short run with cutting back stimulus while the economy is still weak. it didn't do anything. they kicked it to the super committee and pushed everything into the future. this is more of the same. it's getting pushed into the future but we are in a very deep down turn at the moment and need to be very careful. >> ken, i love your book. every economist should read it. there's so much wisdom in that. the one thing i would maybe challenge you on, what i glean from reading your book is that on this recession that we're in, this is a classic kind of debt
3:08 pm
recession where americans at the business level or individual level, there's too much debt out there. what i don't get about all of this and this is my kind of question for you, if we have too much debt, how is more debt the solution to getting out of this crisis. i think it's probably exactly the wrong thing to do right now. >> i agree that the idea of a jolt and suddenly you'll be better again is wrong. and the president did talk about doing something about the mortgages and the housing. that's where i'd like to see more of the focus. i think that would really help pull us out. i'm not giving a blanket endorsement but saying we need to be careful. >> let's take a break here quickly. the economy is slowing down, recession fears are everywhere, it's if it's about to get worse, how long can we expect the down turn to last? we'll look at that next. don't go away.
3:09 pm
3:10 pm
exclusive to the military. and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. from free checking to credit cards to loans, our commitment to the military, veterans, and their families
3:11 pm
is without equal. ♪ visit us online to learn what makes our bank so different. usaa. we know what it means to serve.
3:12 pm
economists differ on whether america is headed for another recession. but most americans find that question irrelevant. 82% of those responding to a recent cnn poll say we're in a recession. if four out of ten are feeling like this is a recession then a continued slowdown seems to be inevitable. >> the only thing i can say is the polls have a lot of interpretation in them and what consumers are doing matters more than what they are saying. not so long ago, in july, durable goods, refrigerators and things like that were picking up rather crisply. so maybe the hard numbers are not as bad as the mood. but if the mood keeps this way, of course, it will feed into the hard numbers. >> steven, is this a crisis which may require an entirely different approach for the recovery? >> it does need a total different approach.
3:13 pm
when ken was talking in the previous segment about this being the worst recession since the great depression, in some ways it is but the 1970s, the whole period from the late '6s through 81, 82, that even worse time for economic decline for this country. stocks lost 67% of the value in real terms. what makes this different from that recession is that reagan came in and did use an entirely different approach. he deregulated the economy and got federal spending under control and fought inflation and we did a big tax cut. within 18 months of that presidency, we had an incredible expansion. where we were creating 57,000 jobs a month. if we got the policies right, there's no reason this has to be a three or five-year long recession. i think the economy can turn around pretty quickly but i don't think these prescriptions are working well. >> you think the president's
3:14 pm
policies are what's delaying the recovery but ken, what we went through was pretty horrific, it will take time no matter what anybody does. >> i disagree with steven on this one. this is worse that what we were in the '70s and state of the financial system and financial crisis typically is associated with something much worse. i do think we could have expected three or four years of difficult employment. the trouble is it's not looking better going further out. what should we be trying? that's a fair question. i don't think anyone -- i think if john mccain had won in and become president in 2009, i don't think it would be real different today. >> i think the political problem here is that we're trying to spend and we're trying to cut at the same time. >> right. >> and we're -- the american public wants everything and that's what politicians want to give them. they want to say, okay, we care about deficit reduction and we
3:15 pm
understand that's the key to the future, on the other hand, we want to spend some money and give you your -- extend your payroll tax cuts so that we can put more money in your pocket. it's very difficult political situation, not only for the president but also for the republican party and for members of congress who's approval rating is at 14%. so they understand the public wants them to get something done. >> there's also been -- if you look at the data and i've been looking at this closely. i think there's been a misdiagnosis of what the problem is with the economy. the problem is we don't have enough demand and don't have enough consumer spending. but in fact if you look at what's happened, consumer spending has been rising at a pretty robust pace. what has fallen dramatically and not caught up to where it was prerecession was business investment. i'm a big believe that
3:16 pm
investment, spending by businesses is what creates growth and you're not going to get -- >> i thought all of those years of tax cuts would make weather creators -- >> in the president's plan he talks about small business and helping small business. there are some things in his jobs proposal that would encourage small business to hire, which i think republicans will embrace. >> we're going to pay for this with a big tax increase, they are looking forward to -- the president is going to raise taxes on employers in 2013, that's a negative. >> i think demand makes small businesses hire -- everybody wants demand, right, ken? >> they do but i certainly agree with steven, they have misdiagnosed. this is a typical recession. they said we need a big jolt of
3:17 pm
spending and we'll get out of it. it is not a typical recession. we never got out of the last one. i want to pick up on president reagan did a great job. nobody is perfect. we almost had a catastrophic savings and loans crisis. it's very tough to be president in these situations. >> it's tough to be president in the best of times. i do think that presidents get too much blame and too much credit. bottom line, too much blame and too much credit and a lot of different moving parts. we need leadership and confidence. another great discussion, guys. a republican presidential candidates have a thought or two or in romney's case, 59 thoughts. we're breaking it down next.
3:18 pm
this one works. ooh, the price sure doesn't. i'm tired of shopping around. [ sigh ] too bad you're not buying car insurance. like that's easy. oh, it is. progressive direct showed me their rates and the rates of their competitors. i saved hundreds when switching.
3:19 pm
we could use hundreds. yeah. wake up and smell the savings. out there with a better way. now, that's progressive.
3:20 pm
try capzasin-hp. it penetrates deep to block pain signals for hours of relief. capzasin-hp. take the pain out of arthritis. the first thing i lefrned covering the markets is that gridlock is good for business.
3:21 pm
diane, full credit to you, a year ago when we were heading into a midterm election, we knew it would result in republicans taking over the house. you stood up against the conventional wisdom and said this is exactly the wrong time for gridlock in washington and you were so right. since then we've had a near government shutdown and debt ceiling crisis that resulted in a downgrade of the credit rating. more importantly, we've got an economy that literally didn't create any net new jobs last month. do you think things will get better in the year to come? >> i think the status quo is more likely. the problem is we're about a 50/50 coin toss chance of recession at this stage of the game. that's one of the hard issues as we debate these different jobs programs, the reality is the old models, historical models that tend to give us estimates on what they might do for the economy don't work. you already had ken rogoff say
3:22 pm
post financial crisis economy is different. it really is different. that's what is the problem here is that people keep trying to use the old solutions to new problems. and that's not going to help us, although it is important to preserve the status quo because as bad as the status quo is it could be worse. many of the proposals out there will help to preserve the status quo and that's what we need to focus on at this stage in the game. >> the president's jobs plan, is that preserving the status quo and that's the best we can do right now? >> parts of it. the whole plan, no, it isn't. there are parts where they made estimates, models have estimated it would create as many as 2 million jobs. as much as i respect the people that make the estimates, i don't agree that's how many jobs will be created because of the structural problems we face. that said there are parts of the president's plan that are very important. we can't have a tax hike he quifl lent of letting the tax cut expire at the end of the
3:23 pm
year at this critical time. unemployment benefits are keeping a floor on consumption. treading water and keeping our head above water even though it doesn't feel like we're moving forward to most americans is critical because the alternative is going under. >> roland, when president obama took office it was 7.8% and today it is 9.1%. republicans argue this is because of his policies not despite them. why aren't the president's policies creating more jobs? zl that's if you accept the republican rationale. somehow it ignores the rest of the world. we're sitting here acting as if that what a president can do alone somehow can fix the economy. look, we gave banks money under the view that somehow they were going to lend the money out. they didn't. they shored up the balance
3:24 pm
sheets. also, our economy is all based upon consumer demand, consumer spending. if you don't have the confidence, they don't spend. if you own a restaurant you won't add more employees if you don't have more customers. it's ridiculous to think a presidential policy alone somehow would drive this. we were operating in a whole new world these days and politicians don't want to accept that. any time you hear republicans and democrats say this is the sole reason, they are playing a political partisan game and not a real game of what's happening in the real world. >> all right, i want to look at the economic plans that republican candidates would put in action. they overlap on a few conservative ideas. they want to cut the corporate tax rate and shrink government. that's the traditional conservative model. mitt romney wants to develop this reagan economic zone. he's talked tough about china, more tough talk than anybody
3:25 pm
else. jon huntsman what's to cut tax rates to 8%, 14%, 23%, do total tax reform and he was endorsed by the wall street journal. michele bachmann, mostly people are talking about her pledge for $2 gas. she would like to lower corporate tax rates. -- >> hello again, i'm fredericka whitfield in atlanta. we continue our coverage of the remembrances of 9/11, ten years later. you're looking at live pictures right now at the pentagon where president barack obama has just arrived after spending a poignant and moving morning and midday at both ground zero in lower manhattan with the relatives of the victims of 9/11 and paying respects at the solemn shanksville, pennsylvania, president barack obama now arriving at the pentagon. we understand there that's where
3:26 pm
american airlines flight 77 as you recall ten years ago crashed into the pentagon claiming the lives of 184 people. you're looking at the live shot right now and also in the foreground you're seeing these benches. these benches mark the 184 lives lost that being in mem or yam of the very many killed on that fateful day. the president will be arriving there, meeting with some of the families of the victims who will also be there. we understand he'll be laying a wreath. there will be a moment of silence taking place. you see there president barack obama with the first lady, michelle obama. we're going to take a short pause here and listen in as the president and the first lady make their way.
3:27 pm
[ applause ] >> get out of the way.
3:28 pm
snoest ♪ ♪ [ playing amazing grace ] >> we understand the president will be meeting now with the victims' families and other survivors of the tragic day ten years ago. he'll be enter a memorial there along with the first lady and having that face to face time with the family members and victims. on that day, ten years ago, our pentagon correspondent barbara starr was also there.
3:29 pm
she is there once again, helping us to recall what happened ten years ago and of course moving forward now as the nation stops to remember what happened. barbara, this moment is interesting because there have been several appearances at the pentagon representing two administrations at least. the bush administration with donald rumsfeld being there earlier throughout the weekend, seeing the vice president there earlier today and now the president of the united states at the pentagon. >> reporter: yeah, you know, fred, i think here at the pentagon at a moment like this as we look at the flag, the point of impact when that plane slammed into the building, for the pentagon today it's really family business, not politics. so many of these families have been out here every year. today they were out here of course early in the morning for the earlier ceremonies and have
3:30 pm
waited for hours in the sun to see the president of the united states as he previously had been in shanksville and in new york. this is sort of wrapping up today's events. the memorial is actually open to the public. if people come to washington, they can't go inside the pentagon necessarily but they can visit this memorial, walk amongst the trees and small water ponds and benches, memorializing each of the 184 souls lost that day. ranging in the age from 3, a toddler on the airplane to some of the older people that worked in the building. it is the history of this country that was written that day as i was telling wolf earlier, you might remember one of the older men in the building, an army civilian who died that day was a man named max bilke had been the last
3:31 pm
combat soldier out of vietnam and came home and lived a peaceful life and was killed here on that morning. it's those kinds of moments of history that sort of give us all a bit of a chill. washington, the security has been tight for the last several days, just like new york. just like new york, nobody is staying home, nobody is hiding away. everyone is out today paying here at the pentagon paying remembrances. >> barbara, did many of the victims at the pentagon who were either witness to or permanently disfigured similar to the man you profiled in your piece, the burn victim, have many of them returned to the pentagon today to meet with the first lady and the president? >> reporter: many of those who were injured did come back to work. some are here today. some are family members. but i want to recall and tell
3:32 pm
you about one woman, colonel marilyn wills, we got to know her years ago. this was an amazing army woman. she had to jump out of a second story window, flames at her back into the arms of a navy s.e.a.l. waiting two stories below who begged her to jump. she did jump and i came to know marilyn very well. and recently found out marilyn colonel wills is on duty in afghanistan. so the pentagon is a little bit different, i would say than any other place. so many of the military people have deployed time and time again. they come back and do a tour of duty here and go overseas as colonel wills has. but it's sort of that military family, isn't it, that comes together. i think even if people in the armed services are not here today, they are watching this and remembering.
3:33 pm
so many have fallen, let me also tell you very briefly about another young man, master sergeant benjamin stevenson, u.s. army special forces, he was killed in afghanistan in july in a fire fight. he was on his tenth tour of duty. so while we pay our respects to those on 9/11, of course 9/11 was just the first link, wasn't it, in what would become a long line of a decade of sacrificing duty on the part of the u.s. military, fred. >> barbara, just looking at the expressions here as the president and first lady are talking with people, there seem to be an awful lot more smiles, even kind of a jovial presence among people meeting the president and first lady here at the pentagon. quite the contrast from what we saw earlier today in shanksville and in new york. does this really speak to a certain type of resilience that perhaps the military culture
3:34 pm
embraces or is exhibiting than in the other two locations today? >> reporter: you know, perhaps it does. so many of these people have lived in this world of the u.s. military for so long. i think a lot of americans are you know, when they meet the president of the united states, must -- whoever is serving at that moment must feel a sense of awe and bit of thrill and a smile at meeting the commander in chief. but that's it. here this is their commander in chief. and that's very important here. what you do here frar from a lo young troops, after so many years they want to know that somebody remembers they are out there, that their service is not just recalled on a holiday or a ceremony like this. they would just like to be assured that america remembers they are serving 365 days a
3:35 pm
year. that's kind of the feeling that you get when you talk to the troops, when you talk to their families. that's i think partially part of the feeling that you're seeing on your screen right now. these people know that every president of the united states appreciates their military service. so it may be just a bit different than new york or shanksville, but make no mistake, there is always ongoing grief as part of the remembrance here. i think it's just that the military people probably pick themselves up a little bit and put one foot in front of the other because it's what they are trained to do. it's part of their profession, fred. >> earlier barbara, the vice president was there having some remarks saying that his memory of the attacks quote, a declaration of war by stateless actors bent on changing our way of life, the goal, to break us, they did not know us. and earlier a flag, an enormous
3:36 pm
u.s. flag was draped over the impact point there at the pentagon. is that still in place? and if so, for how long? >> reporter: well, we expect the flag to be in place until dusk or sunset today. that is the impact point ten years ago as we all stood outside in utter shock and horror, trying to do our jobs, that flag was unfurled. by a group of first responders if my memory serves, it was firemen and policemen and some pentagon workers, construction workers that assisted in getting up to the roof. it was very slowly unfurled. there was a slow salute. it was the sign that at the pentagon, across this country, people were not running away. the flag was out. and americans were standing up and responding. here at the pentagon on that
3:37 pm
day, the pentagon never shut down. there were flames. there was smoke. there was terrible devastation. the dead and the wounded tended to, but i would say that really at the behest of former secretary donald rumsfeld who refused to leave the building, he wouldn't go no matter how much the security people wanted him to. he stayed so the top general stayed so many people stayed and were back in the next morning early in the early hours. this is a place that did not shut down. it kept going. the u.s. military headquarters i think i've said it before and i will say it again, for the united states military, in this place on that day, no retreat, no resurrender. the dead and wounded were attended to as on every battlefield where the u.s. military fights and they pick themselves up and began to plan what was necessary ahead.
3:38 pm
i can remember with utter clarity as i was walking around outside as the fire was raging, an army general i knew very well came up to me through the devastation and said, we are at war. and for someone like myself who had never been through something like this, that is a moment that stays with you forever, fred. >> and perhaps, barbara, as we continue to look at the pictures of the president there and relatives of the victims at the pentagon, there from 9/11 taking pictures and exchanging glances and smiles, perhaps this is a moment of exhale when earlier today it was very solemn, the scene was solemn there at the pentagon just as it was as ground zero and just as it was in shanksville with the vice president who was also wiping away tears earlier today when he spoke. the defense secretary, leon panetta and chairman of the joint chiefs of staff, admiral mike mullen spoke solemnly of
3:39 pm
the lives lost and talked of the heroes that really sprinted into action to help out people. perhaps now people today at this hour feeling kind of a sense of relief from what has been a very heavy morning, heavy day. >> i think that's a great point, fred. it has been an exhausting day for so many people in this country. the weather is very warm. it's very hot. i'm really amazed i shouldn't be but i am to see so many people have waited out in the heat for so many hours to see the president. and i think that's a great point. since wednesday, when that terrorist threat came to light, i think so many people in the country have been on nervous edge and especially in new york and washington with all of the security measures and all of the concern. and maybe at the end of this very long tiring hot day and
3:40 pm
this very long week people just want to have a smile, shake a hand. the president certainly saying thank you to those military troops to the families and the families obviously and these young military people you see very delighted to see the president of the united states. >> and while you and i continue to talk here over the live pictures, we're going to try and -- try to locate some of those sound bites from joe biden earlier today at the pentagon and run those again too so people can get an idea of all that's taking place at the pentagon today. i wonder if in any way of defen able to say whether the recruitment of military personnel has in any way picked up or perhaps the pace has remained the same over the past ten years? we know immediately following 9/11 there was a great spike in interest of people who wanted to sign up to all branches of the military.
3:41 pm
over the past ten years, is there a barometer in which the d.o.d. has been able to measure whether that interest that kind of driving compassion has changed at all? >> reporter: you know, i think right after 9/11 we saw that. then the economy was doing well and an aux lot of young people might have chosen other careers. as the economy has declined in recent months, what military officers tell us is they see a rise in recruitment because young people again looking in some cases for the economic certainty that military service can give them while they join. but one of the interesting things i think, fred, is because of decade has passed, think of it this way, young 18, 19, 20-year-old americans now joining the united states military were just little kids back on 9/11.
3:42 pm
you know, we meet 19 and 20-year-olds all the time, young army and marine personnel, they were 9 and 10 years old. maybe not even remembering all that much about this. some of them do, some of them don't. but we're now getting into the generation of young people joining the military who truly were children back on 9/11. as i said a minute ago, what you're also seeing though is time and time again the repeated deployment, especially for america's special operations forces, such as those who went on the osama bin laden raid because they are so heavily used. we're seeing them serving nine and ten tours in the war zone. these are the kinds of things that change military lives and military families forever. you know, it's a mixed picture. there are as always, tens of thousands who come home from
3:43 pm
war, resume their lives, move on and lead very peaceful lives for decades to come. in this war there are tens of thousands who's have struggled when they come home. struggled with unemployment, homelessness traumatic brain injuries, terrible wounds. i want to tell you, the faces that are appearing before me of those troops have come to know over the years, lieutenant andrew kin ard, united states marie corps, an amazing young man who only served briefly in iraq before he was grievously wounded losing both legs in the war. andrew is now a double major at harvard law and harvard business school as a double amputee earning degrees at both of the schools. quite determined to go on with his life. we sadly know of so many who have struggled the other way,
3:44 pm
struggle with homelessness, as i say. but it's a mixed picture but maybe that's because it has been a decade of war. the american public has never been at war as long as this. and so this is something that is changing the landscape probably forever, fred. >> countless examples of both resilience and recovery as pentagon correspondent, you are at the pentagon on a regular basis. so when you get to the building or perhaps there are people you talk to on a regular basis, do they speak about how they feel that day, the presence of that day every day they enter the building, even ten years after the fact? >> reporter: you know, i'll speak for myself first and say there is not a day that i can possibly forget when you walk in this building, the security measures, the somberness of what
3:45 pm
has happened here. it's something that can not be forgotten. even in our cnn office here in the press area, inside the pentagon, we have a breakaway window in this office. we have a special window in the event of a fire or disaster. the window theer retally should break away and we could escape that way. this is a building where there are heavily armed security personnel as there are in many buildings in washington. it's sort of with you all the time. do people talk about it all the time? no. i mean, i think there's that human healing mechanism where most of the time you're so busy with your daily life or daily work but there are those moments we profiled a man earlier, john yates, who was so badly burned. he is here still working every day. if you see john yates in the
3:46 pm
hallway, you know what john yates went through. so there are still those markers every take, fred. >> if not a reminder, there is some resonance, we're going to take a quick break. we're continuing coverage of 9/11 ten years after the fact. a day of remembrance, again live pictures right now. the president of the united states at the pentagon meeting with family members of the victims of the pentagon. that tragedy on 9/11 ten years ago. we'll be right back after this. can i have some ice cream, please ?
3:47 pm
no, it's just for new people. hey ! chocolate, vanilla or strawberry ? chocolate ! chocolate it is ! yeah, but i'm new, too. umm... he's new... er... than you. even kids know it's wrong to treat new friends better than old friends. at ally bank, we treat all our customers fairly, with no teaser rates and no minimum deposit to open. it's just the right thing to do.
3:48 pm
an accident doesn't have to slow you down. with better car replacement available only with liberty mutual auto insurance, if your car's totaled, we give you the money for a car one model year newer. to learn more, visit us today. responsibility. what's your policy?
3:49 pm
welcome back to our continuing coverage of 9/11, ten years later, you're looking at
3:50 pm
live pictures. the president of the united states and the first lady at the pentagon there meeting with relatives of the victims of 9/11, american airlines flight 77 crashed into the pentagon ten years ago. the lives of 184 people were lost. also moments ago, perhaps about 45 minutes or so ago, the president of the united states laying a wreath there in front of the pentagon. not far from the location, impact point there, at the pentagon where that flight crashed into it. right now being marked by a huge american flag on the side of the pentagon building. he laid the wreath there and then there was also a moment of silence. and then earlier today, a very different mood taking place. right now seemingly a little jovial, perhaps a real sense of an exhale after a very heavy day. many of the family members excite there had to see the president and first lady. earlier today a very somber
3:51 pm
setting. the vice president of the united states, joe biden, with these remarks. >> al qaeda and bin laden never imagined that the 3,000 people who lost their lives that day would inspire 3 million to put on the uniform and harden the resolve of 300 million americans. they never imagined the sleeping giant they were about to awaken. they never imagined these things because they did not understand what enables us, what has always enabled us to withstand any test that comes our way. but you understood. >> if you notice in the background of joe biden as he was speaking, the vice president there, you also saw these remarkable artful looking benches behind him. each bench representing each life taken on that dreadful day ten years ago on 9/11.
3:52 pm
that is the sight of one memorial there outside of the pentagon. it didn't take long before that memorial was erected. pentagon correspondent barbra starr with us now. you were there at the pentagon on 9/11. you have been there throughout the day as well helping people remember what happened and how the pentagon has been able to move forward, how so many lives have been able to move forward and become even more resilient. show even greater resolve than ever before ten years after the fact. barbara? >> reporter: fred, maybe part of that at the pentagon was because the building was repaired and rebuilt within one year. really a year to the day the construction workers, the pentagon leadership, they worked around the clock day and night. this became a construction zone. they were determined to get the building repaired. you know, that -- that took away the physical star that the country could no longer see. the deeper scars, of course, are
3:53 pm
within the military families, the military people who serve. but as you look at that building right there and you look at the flag hanging, that was a place of utter, utter devastation ten years ago. flames five stories tall. the roof collapsing. the fire department trying desperately to put out the fire. people trying to go in and save whoever they could. it was extraordinary that more lives were not lost in no small part because where the plane hit was not a fully occupied section of the building at the time. the terrorists certainly didn't know that. it was a part of the building that had been renovated, actually, and had a lot of stronger construction measures in it. the pentagon was 60 years old ten years ago. and so this is a building that was potentially fragile until
3:54 pm
this renovation was recently completed around the entire building. it was quite a thing when it was -- there was quite a ceremony here when it all reopened. i think people were very relieved at that point in a way. but maybe some of it took away the country's ability to, you know, recall. because in new york, of course, it has taken some time for that rebuilding and the memorials there to come to pass. shanksville, a rural area. here at the pentagon they were determined to get on with it and get the building fixed and get it repaired. >> barbara, we're going to stay outside of the pentagon with these live pictures of the president of the united states shaking hands with relatives of the victims, et cetera. but tell me about inside. apparently there are some memorials inside that pay homage to the lives lost and the
3:55 pm
heroism that was displayed. >> let me tell you, it's a secure building. if you could get permission to come in, where that flag is down on the first floor there is a memorial chapel. services of all denominations are held there. catholic, jewish, islamic. everything. throughout a week, services of all faiths are held there. but at that chapel inside the building just below the flag, there is also a memorial wall where the names are inscribed as we now see on so many memorials of all 184 souls lost. when we have visiting dignitaries at the pentagon, often they come to this chapel to pay their respects. there is another small memorial area where the navy command center was where so many people were killed. there is in the hallway where there are army offices where the plane hit. there is a memorial to those
3:56 pm
lost in that army office. their photos are up in a permanent display. they are remembered every day by their co-workers. you see this kind of thing throughout the building if you work here as we do as journalists who cover the building. there's a lot of -- you know, after ten years there's a lot of people who have come to work here who weren't there that day. over the last ten years, life moves on. people come and go. so often it's -- it seems very odd to me, but you see people standing at these displays inside the building trying to figure out, you know, is this where the plane hit? is this where the wreckage was? is this where there was that open, gaping wound in the building? for those of us who were here, you know every step of the way. but other people new to the building are learning all about it every day, fred. >> barbara starr, thank you so much. those memorials in so many different ways paying homage to
3:57 pm
the lives lost, heroism displayed. at this moment the president of the united states along with the first lady giving thanks to a number of the relatives of those victims. and in large part kind of helping to bring some relief a a lot of people have been feeling like they needed all day long after a very heavy, somber day of paying respect to the 3,000 and some people, americans, killed on 9/11 ten years ago at the pentagon, in shanksville, pennsylvania and in new york's ground zero. we're going to continue our k coverage on a day of remembrance after this.
3:58 pm
3:59 pm
[ engine revving ] [ male announcer ] you won't find the toughness of a ram 1500 combined with the legendary power of a hemi v8 in any other truck. it's a beautiful thing. guts. glory. ram. oh, we call it the bundler. let's say you need home and auto insurance. you give us your information once, online... [ whirring and beeping ] [ ding! ] and we give you a discount on both. great! did i mention no hands in the bundler?


info Stream Only

Uploaded by TV Archive on