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He's doing okay what's his.
What he's doing I.
The president has learned that the president has words about about all the stuff that needs to be done to help create that's right and I really -- -- digital.
What it -- requests -- -- the president is having meetings with his senior staff.
That was white house Press Secretary Jay Carney.
Having kind of a crazy afternoon yesterday -- He was talking to the press corps.
There that was Jake Tapper from ABC about what the president's plan is on job creation this is power play I'm Chris dire wolf thanks very much for being with us.
We continue to talk about -- economy we continue to talk about what the president's going to do about it.
And the guy who knows most about doing that for us is our senior White House correspondent Ed Henry.
How -- the White House responding to today's jobless numbers in the general uncertainty about the economy.
Well -- say hello Internet again as we know yesterday and out of although Internet and I'm just glad that you came to -- -- for a second there when you said the guy who knows more than -- about that you're introducing Charlie Gasparino and I was.
Yesterday at fifty you know -- -- -- for Fox Business Network however I appreciate maybe Charlie is in the -- today maybe Charlie not available on the lead.
Let me tell you -- -- -- do.
Yeah exactly it's Friday you got me look I think.
The bottom line the very bottom line here is these numbers are certainly not good enough to turn this very weak recovery around.
But on the other hand after all the gloom and doom on Wall Street all week and in Washington frankly and in some of our reports about.
Boy ever was bracing for Friday this could be a bloodbath that could be ugly.
This -- is surprisingly good for this president we need to note that that there are some good news together over a 100000.
Private sector jobs created again.
What is needed to really get this unemployment rate down when you look beneath that top line number.
There -- suggestions.
That unfortunately a lot of people around the country are just giving up going their hands up and saying I can't find a job.
And and and basically they're stood there -- halting their efforts.
To look for new job which helps the unemployment rate -- a little bit but obviously does not solve.
The problem the need for job creation in this country so how the White House is dealing with this president which -- had had an event.
At a military base here in Washington area was specifically highlighting.
-- even bigger problem which is the fact that the unemployment rate is worse.
Among military veterans.
Coming home to America trying to find jobs in the private sector He wants to highlight that and he's also saying look.
This is better than expected.
But it's still not good enough and he's urging congress to take up another enough you know a number of measures in September to maybe improve the situation but.
I think the bottom line is we're gonna be going through this for quite some time there.
Now they -- yesterday from.
The Press Secretary and others in the administration we're hearing it -- -- -- today is that the president is looking for new ideas he's not just gonna keep talking about.
The things -- but patent reform and other measures he's interest in congress passing that have been on the table for awhile but they're looking at new strategies to maybe break out of these doldrums.
Any hint as to what might be on the table -- in the mix for that.
Kind of stuff.
You know not really and pardon me for this cement truck that is revving up.
It apparently putting Americans back to work -- they're putting Americans back to work.
Chris I want I want you to be fairly solid point out that there are shovel ready jobs.
In -- right here at the White House apparently maybe help.
But in all seriousness.
I'll try to talk over it but the bottom line is you know color me skeptical.
That there are really going to be any.
Great new ideas from either the administration.
Or the Republican.
House I should say -- the democratic senate.
Because I frankly I'm not sure that anybody in Washington it either party has come up with some dramatic new idea I mean patent reform.
There seems to be some bipartisan support for that great business think that will help with innovation but -- anyone think that's gonna create.
Hundreds of thousands of jobs I doubt it the trade deals that are pending on Capitol Hill.
You get those -- that may help is that gonna turn this around is that means 7% unemployment in America no way.
And sell I think there are some things on the table the.
President is saying that this report is.
Good but is still -- call to action and that the Republican led house speaker -- need to work with him on some of these.
What I Michael bite size initiative but I think a lot of our viewers are looking for the super size variety of it is the American.
Culture that doesn't want the bite size they want the super size.
And and frankly there's not really an initiative like that.
Coming out of this White House coming out of the democratic senate or the Republican -- Okay let's go get your hard -- the Internet love you thank you for joining us good by Internet.
-- And you know who else Internet love us and I love to because she is such a great friend of -- show.
Is AB Stoddard from the hill you weren't so great to be with us today.
As we try to -- through all of this stuff.
And basically what we heard from Ed and the continuing echo is.
There is no way to do anything big is He called super sized.
To kick start the economy that these doldrums and that this back and forth where you are sort of -- The bad territory but just how much worse or how much better it's going to be.
That there's no way to break out of that because it gridlock in Washington is He is He right about that do you think.
What I think -- combination of gridlock.
And up from that policy makers.
But also I think that that ultimately the private market takes care of the economy and the -- -- policy makers out there were some initiatives.
Like this stimulus.
Their running out.
It is going to take -- big.
I'm ugly punch in state governments is gonna -- -- a lot of people use those dollars are running out of and then that.
You'll also see things like that unemployment insurance -- passed last December's part of the extension of the bush tax cuts.
A payroll tax that also extend last December those are gonna run out into this -- -- this year.
It's going to be a huge.
Dance to already depressed consumer spending a big problem it'll ultimately lead to more -- so.
It is it is a cash money to where when you we provided stimulus the economy with the Fed using quantitative easing -- That congress passing a huge stimulus at 800 billion dollars.
What -- the same time the underlying factors.
That led to that big bubble and bust how -- It really changed people are saving more which is good that means they're not spending they are not -- -- Companies have learned to sit on to more than two trillion dollars in cash and do more with less.
They are not seeing the demand is required for investing in this economy investing in new jobs -- not creating them and so.
We really are looking -- you know as -- said and everyone has said all morning He long term -- quagmire because we can't.
Fix it with policy quickly.
And we can't -- That you know consumer spending.
In the seat that -- in to create a -- just just not it's not gonna happen in a long time.
And the private sector light.
Many of the private sector like the president's plan when He came into office because there was new regulatory -- But it came -- stimulus there was a lot of Jews -- of the economy and as you said the Federal Reserve.
Was helping and doing cash bombardment and keeping things going so you saw investors and you saw people said hey let's give this guy can't.
Now that he's lost the ability to stimulate because of a Republican House and all the reason is there's only the -- and.
Along its path right directives it's not.
Even if Democrats are in -- we can't really pass an 800 billion -- stimulus again right.
Exactly now what's coming up and that the looming thing over all of this aside from the 2012 election is that there is the super committee in the house.
There and the senate bipartisan six members from each party.
They have they've been charged with coming up with a one point five trillion dollar.
Over the next decade in exchange for -- commensurate amount of debt ceiling for the president four.
More borrowing so that's the deal it's it's carved in stone now.
The many say and that.
Many on both sides say that these dire state of the economy.
Will push for a tax overhaul.
That that is out there that.
That the president needs that I wrote in the power play that you can get at foxnews.com.
Back slash politics each morning.
That I -- for you Internet because none -- you so much.
That that basically.
Out of options the president has got to look at this this this chance.
Get to do something that is gonna make markets and make people feel better even if it's a reversal of where He was going do you think that.
And in my how crazy and.
No no I I think that not only is it the only.
Sort of solution or direction left.
But it's also.
BS is essential for President Obama to.
When the middle to win reelection and defender of the economy due to win reelection -- He does that by getting on board with Republicans on tax reform.
How I agree it will go where the Democrats like but I think they're getting -- out of this argument I'm very quickly are.
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