'This Week' Transcript: Economic Panel



AMANPOUR (voice-over): Good morning. I'm Christiane Amanpour. And at the top of the news this week, trouble on the road to recovery. Jobless claims are up.

(UNKNOWN): The numbers are dismal for employment.

AMANPOUR: And Wall Street gets nervous. How worried should we be? And what will bring confidence back? This morning, top voices on the economy: former New Jersey Governor and Wall Street CEO Jon Corzine; Republican Senator Bob Corker of the Senate Banking Committee; Obama economic adviser Laura Tyson; and chief economist at the U.S. Chamber of

VIDEO: A Look at the Economy

Commerce, Martin Regalia.

Then, washed away. Twenty million Pakistanis in danger, as the worst flooding in memory leaves huge areas of the country under water. It's a race against time to bring relief. "This Week" has the latest from inside the crisis, with U.S. efforts to deliver aid.

Plus this week, the president weighs in, defending the mosque and Islamic center near Ground Zero.

OBAMA: Muslims have a right to practice their religion, as everyone else in this country.

AMANPOUR: Or does he?

VIDEO: A Look at the Economy

OBAMA: I will not comment on the wisdom of making a decision to put a mosque there.

AMANPOUR: That and all the week's news and politics on our roundtable, with Cokie Roberts, political strategist Matthew Dowd, David Ignatius of the Washington Post, and Chrystia Freeland of Thomson Reuters.

And the Sunday funnies.

LENO: Unemployment among teenagers at an all-time high, all around the world. It's not just here. In fact, in China, it is so bad, kids as old as seven are having to move back in with their parents.


ANNOUNCER: From all across our world to the heart of our nation's capital, ABC "This Week" with Christiane Amanpour starts now.

AMANPOUR: Good morning. This was supposed to be the summer of recovery, but the effects of the so-called Great Recession continue to cloud this nation and much of the world. The number of U.S. workers seeking unemployment benefits rose unexpectedly to 484,000. It's the worst in almost six months. And in the housing sector, banks foreclosed on more than 90,000 properties in July, the second-highest total since the crisis began.

And these pictures speak to the desperation this week in Atlanta. Thirty thousand people waited for hours in sweltering heat to apply for 655 available spots of government-subsidized housing.

And I'm joined by four top voices on the economy. From Berkeley, California, member of the president's Economic Recovery Advisory Board Laura Tyson. From Chattanooga, Tennessee, Republican Senator Bob Corker of the Banking Committee. In New York, the former New Jersey governor and CEO of MF Global, Jon Corzine. And joining us here in Washington, chief economist for the U.S. Chamber of Commerce, Martin Regalia.

Thank you all for joining me. You've heard the figures. You've read about the figures. You can also probably palpably feel the concern and worry amongst the American people. And I want to read you something that was written about this joblessness, about the younger generation in the Atlantic recently. Look at what was written about unemployment.

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