What's the President's Plan to Tackle Unemployment?
Panel debates jobless numbers, economy, national debt
- Duration 5:04
- Date Jul 14, 2011
Panel debates jobless numbers, economy, national debt
Also in this playlist...
This transcript is automatically generated
New concerns for President Obama and it's not over the debt it's the state of jobs in this country the Labor Department issuing new numbers today.
Last week claims dipped slightly to 405000.
That's better than expected.
Economists predicted a much smaller decline to 4151000.
But the problem.
Is jobless claims have been well over the 400000 mark for fourteen straight weeks now.
President Clinton's former labor secretary Robert Reich talking to the editorial pages and blasting the president for not doing more to fix this problem.
-- congress the founder of movement vision dot work Rich Lowry editor of the national review and Fox News contributor welcome to both -- -- and there.
On Sally this is a problem fourteen straight weeks of 400000.
Plus -- what is the president's plan to get more jobs I'm.
This isn't a problem this is this is a catastrophe and frankly we're not talking just about numbers talking about people's lives.
And families are really hurting in this country and and even those who are unemployed -- are barely barely hanging on.
Look that there -- two things that our leaders both Obama and congress if you first they need that you need to fix the default crisis or else it's gonna get worse.
And -- need to focus on creating jobs unfortunately the Republicans have made it clear that they actually wanna make the economy worse so that they can make sure that Barack Obama -- -- his job.
That's clearly the new one -- you think the president has been dealing with jobs what will I you know I don't think frankly I think he should pass the -- stimulus -- in the first place I agree with Robert Wright and that.
The bill -- passed was good.
It didn't go far enough.
But secondly -- unfortunately he's being -- in these debates over the sanctity of our future company rather than being able to focus on job OK so if only we had a bigger stimulus rich that we wouldn't we wouldn't be in this jobs crisis.
Now I mean the idea that you had an 877 -- whatever was billion stimulus.
The idea if he had a trillion -- make a final difference if get a one point two trillion make fundamental difference.
Is ridiculous what this president has proven is what we should have already -- you can't spend your way.
To a sounder economy.
Into a recovery and he is just out of tools now the things he talks about are silly and ridiculous patent reform and an infrastructure bank that's not gonna make a difference.
Italian went Robert Reich the former labor secretary under Clinton obviously Democrat comes out and -- but the president.
-- plan for jobs something like grossly inadequate.
That probably means he hasn't done enough.
But let's -- -- Robert Reich is also saying the Republicans haven't done enough either and I wanna go to Rich's point.
Look businesses which are paying their lowest tax levels in the last half century.
Are sitting on a record one point one trillion dollars in unspent and why are they doing and not hiring -- that's a great question but but instead of really looking at and saying look we have a bad economy and like it or not government is the spender of last resort they have to kick start the economy just like they did after the Great Depression.
Instead the Republican plan seems to be.
Yeah let's give -- more money and just hope that they create some jobs -- pretty pretty well the real.
Why businesses probably are spending that money is this is a lack of confidence in this economy so if you're actually forging a rational economic policy.
You wouldn't have tax increases you get the deficit under control -- have it's a sound and sort of routine regulatory environment.
Instead this president he spent like a drunken sailor initially.
Didn't get it short term bump out of it really at all and contributed to a long term problem that really threatens the economy is.
Kelly and Robert Reich didn't only criticize the president he also came up where -- jobs plan he laid out what he would -- you.
To put Americans back to work similarly Bill Clinton did that a couple of weeks ago -- Newsweek yet at nine point plan.
Of exactly what he would do to create jobs why he seems something like that from President Obama I completely and I.
I -- with rich where you know the president did not get a short time to bump in part because I think early on -- -- term even though the Democrats control the house and senate he was too worried.
About trying to please everyone on both sides of the aisle -- actually do what's necessary for the country let's be clear.
Clinton and righteous plans both call for raising taxes to call for shifting some of the burden.
On those who are faring well in this economy to help those who aren't even Ronald Reagan raised taxes eleven times.
Of the goodness well let -- -- Ronald Reagan as a huge net tax cut okay that's fundamentally change the way that this.
We tax our economy so it's portray Reagan as a tax increase.
-- -- ridiculous that's the answer just raising taxes not just our creative jobs well it's not the only have to look first of all let's get Clinton record Ronald Reagan grew the deficit more than any president since Washington's toward Washington.
-- -- And taxes as -- as nothing -- -- deficits and yeah.
And whit whit about last rich what what would you like to hear the president say.
I would like to hear him say I was wrong.
I'm gonna reverse field on all this and actually deal with the deficit I'm not gonna raise taxes.
And I'm gonna scale back obamacare but of course he -- say that which is why has to be defeated in 2012 if you really want to sound economic -- -- we have to live there we'll see what's up this idea I don't know it's Larry it comes to resolve the problem I don't know why I think identically.
Illinois it's so much guys are right.