Also in this playlist...
This transcript is automatically generated
Plus the -- and brutal day on Wall Street today to say the least the worst day since the economic collapse in 2008.
Now investors are apparently shaken over our struggling economy so what's the answer.
How -- we get our economy back on track -- is presidential contender and former speaker of the house -- -- Sitting mr.
speaker around I want I get back on track and if you're present nicest.
But I want the fast and don't want the long term one about how we need to get rid of regulations that make -- three years I don't wanna hear those long -- this.
-- -- -- people are really desperate their unemployed nine point two maybe more tomorrow so what's what's the fastest way to get us back on track.
Well first so we do know how to do this.
The fastest way would be to have the congress come back again.
Immediately pass an American energy bill liberating the oil gas.
Natural gas and others to out and find energy overnight.
And Western Pennsylvania where they're doing that they've created thousands and thousands of new jobs in the last two years.
Repeal the Dodd-Frank bill you could do it one day in the house into a few days and senate.
You would liberate every small bank in America -- raise the price of housing -- -- you would give every small business a sense of hope.
It's a 2300 page monstrosity that does to financial services -- obamacare does to health care.
Third I think you have to look at a serious tax program fundamentally.
Different than Washington thinks about.
We ought to go to zero capital gains were to attract hundreds of billions of dollars of investment US.
We ought to go to twelve and a half percent corporate tax rate which ironically would give general election to pay more taxes -- they pay the higher at 35%.
We should go to a 100% expensing so that companies could write off all new equipment farmers could write offs on -- equipment of one year.
These kind of things these are real changes.
And the challenge you have with this administration.
Is -- wants to go in the opposite direction.
Unfortunately virtually everything the President Obama and his appointees believe in as -- kind of bureaucratic socialism where.
They want to micromanage the entire country from Washington DC and the fact is that kills jobs.
Yeah -- that.
Is seven democratic ideology -- -- -- also senator Rick Santorum.
And how much is President Obama and I guess -- the sort of the way I distinguish your questions.
In that we're a different democratic president in office that would there be a different is it is this unique to President -- -- is sisters -- the democratic philosophy.
I know how to do business.
Well I think his -- -- both you know Dodd and frank represented a big government Washington senator model.
So did Harry Reid -- Nancy Pelosi.
But if you go back to when I was leader it's fair to say that Bill Clinton was dramatically more realistic.
And substantially more moderate than President Obama has.
Clinton had after all governed in Arkansas He spent twelve years -- governor working with a conservative state legislature.
He -- campaign I have found in the democratic leadership council to move the party to the center.
I do think that a lot of this is Obama but also the people around him.
He almost all of his appointees are very radical anti business.
Believers in bureaucratic socialism.
-- whether it is the National Labor Relations Board attacking -- in South Carolina.
Boy it is -- Environmental Protection Agency trying to control the whole economy or it is the Food and Drug Administration crippling.
The development of new medicines a new solutions -- -- and every one of these places you turn around.
It just gets worse and worse and Dodd-Frank.
Along with Obama here -- the two models of really bad legislation.
And I -- when the economy have.
And that's good to street thinks He suggested because I'm actually a little impatient now we're trying to get our economy -- on I think -- You know you know we've we've been awaited now since that they are not and the stimulus bill and and things are getting in -- far I think for -- Americans again a lot tougher.
To the two things that you -- one is a tax -- brain -- okay instead taxed on the zero assuming that's a good idea or even the other one about Dodds frank.
Those are things that the president can do it simply an executive order.
Yeah and we've seen how Washington works when things don't move particularly well over -- -- -- you've noticed -- said.
It's been a little bit chaotic here -- a couple last couple weeks months years lifetimes.
Who conducted 55 fifth tomorrow turns out to be as bad.
All around the world this after all started in Europe.
With a sell off brought on I think -- realization that Italy could find itself in deep trouble Spain could be in deep trouble.
The Euro could be under enormous pressure.
And as people around the world start to realize if the US economy's not recovering and there's no evidence -- -- If the European economy's not recovering -- -- the Japanese economy's not recovering.
All of a sudden all the expectations of a better future.
It's just get stopped in their tracks.
If we have another couple really bad days and -- -- sound very bold.
The president ought to consider bringing the congress back for a special session.
Very narrowly focused on jobs and through this will be very controversial on the left but the fact is if -- -- Dodd-Frank this week.
You would see banks opening up you would see small business opening up you see housing improving within a week.
If we order -- federal land and allow people to explore for gas and oil and for other minerals.
You would see people investing within 48 hours the -- thing -- markets as we've seen in the last week.
Markets can move fast the president made it jokes about discovering that there -- no shovel ready projects -- -- of bureaucracy.
When you're in the free enterprise system people analyze people respond people move their resources was astonishing speed.
And if they saw the US move towards a genuine pro investment.
Pro jobs pro small business environment you would see I think resources shift very fast in the Reagan administration.
They launched seven years of recovery.
That the equipment for our generation to be 25 million new jobs that's how big change can be.
I don't know if if your ideas about repealing Dodd-Frank is correct -- I would mean and that -- into the once in my decision but the thing that really -- I think is urgent and that I created it I wish to present would would ask the house of the senate to come back because this is a crisis for most Americans.
-- new jobs as a way they put food on the table this is in emergency breaking news we all report to the studio lord of the scene of the breaking news.
And this is a crisis for many Americans right now and they've all got on their on their recess and it's beyond me how they could do that.
-- they -- -- the president is gonna go on a weeklong bus tour of the midwest and it's almost like a fantasy -- The fact is if the president -- serious -- job creation first of all He had better come up with a lot bigger proposals.
Then we're seeing you don't you don't get out of nine point 2% unemployment you don't get out.
But today it was announced the largest number of Americans on food stamps and history I've I've said now for six months this is the most effective food stamp president in American history.
That sounds like it's an attack it's just a statement of fact.
Is his administration kills jobs they're driving Americans on the food stamps most Americans would rather a -- -- But the real challenges -- I don't think President Obama can give up his left wing ideology.
And can give up his left wing allies.
And can actually try to do some who works in a free market and that's the dilemma you have in Washington today.
Do we know how to get jobs absolutely have I was at the and that the and -- county which is in Cedar Rapids today.
And the -- Eagles as a business groups that got together.
I -- -- -- the business leaders there they know how to do it I was tonight at an event agree against these house in the -- with a lot of business leaders they know how to do it.
They're eager to go back and -- they say -- it's not being able to create jobs.
I'm gonna -- president -- ought to listen to people who.
Filter by section