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I well it's a -- -- folks up for the Dow Jones industrial so far down 452.
Points almost 4%.
For the Dow thirty right now it's arrest situation for the S&P 500 is -- that oil back up about three dollars right now of course.
What the story is right gold once again is the only.
Strong performer in this market today so we also that this news in the jobs market 408000.
People walked into an unemployment office -- for the first time filed for unemployment claims that -- not -- there -- up 9000 from the week before.
Joining me now Wisconsin Republican senator Ron Johnson who is part of the Senate Budget Committee at a -- businessmen and is up prior life senator welcome good to have here today.
Morning market Martin thanks -- me on good morning you'll look lot of good morning I certainly look at the Dow at what what's your reaction to what we're seeing happen markets this morning senator.
Well it's a real tragedy today and they got us in -- it's been real tragedy for the last three years.
This has been a disaster for our economy this is really hurting people -- 401 -- are plunging.
And -- the sad fact matters is we don't we do not have leadership in this country.
-- that the president stood up in front the American people to Fridays ago when the Dallas plunging and the market continued to plunge because.
I think the American people saw what I saw a president that really does not know what to do.
And Martha I don't think He ever has known what to do because he's never had any experience in the private sector He doesn't know how to create jobs He -- believes the government.
Can create long -- himself stating -- -- -- realizes we have -- the private sector and we have got to get the government out of the way what.
You know what senator that's a very rough assessment.
Of the job that the president is doing that you're not alone because the recent numbers as it 26%.
Americans have confidence in the way that the president is handling this economy.
You know that the nation is really looking for.
You folks in Washington.
To get together and with the president's help to figure out how to turn this huge.
Cruise ship back around it in the right direction.
And we know that when He comes back from his trip He will be unveiling a jobs program which is as likely to have it and we're stimulus and it basically a -- to simulate the job market I want you to thoughts on that and then the other side of it is apparently -- revival of this grand bargain.
To get -- to take a big bite out of spending in this country and to perhaps -- some tax reforms that it you know.
With that as a background what are what are you gonna deal when He gets back when He specs -- -- happen.
Well -- and unfortunately again the president really doesn't have a clue how to create jobs.
If we really want to get this economy moving again we've gotta remove the answer and He.
We have got to return confidence and truthfully that the best thing we could do is first -- -- repeal the entire Obama agenda.
Get rid of the health care law repealed -- repeal Dodd-Frank.
We've got to roll back all these regulations that He is imposing and Shaq bring the real job produces and America west.
It's very difficult.
For business persons to look at.
In the future and say I've got confidence to invest and create jobs and why can't I can't -- guys that's -- -- -- present simply doesn't understand that.
So let me ask is -- -- you say to the American people -- the best we can have right now is sort of a log jam it act until the next presidential election.
And then we can try to overhaul this agenda and if that's what you're saying if that's with the best bet is in your opinion.
It would expect people to ditto for the next eighteen months while they watch -- kind of thing happen in the market.
Well again it's it's just a false assumption that the government can actually create jobs He can't.
And we have a present a United States when He -- the entire US economy on the government.
Actually being this -- and I understand I understand -- a -- directions so I -- -- -- lastly I'm asking you is what do you say to the American people in the situation we're desperate.
In many cases right and they don't want to wait until the next presidential election necessarily to get things moving again so is there anything sort of just you know.
A log jam on Capitol Hill and waiting that you could suggest -- -- the American people this point.
It's it's difficult not to have a lot.
Jam when you don't have -- president showing leadership you know He talks about this grand bargain.
It but -- haven't seen anything on a piece of Paper you know he's talked about a new jobs program.
What's He been doing the last two and a half years mean this is the Democrats and it hasn't put a budget on the table hasn't passed a budget in over two years.
So it's very difficult for for somebody like myself who's willing to work with anybody.
Who's going to seriously tackle this issue.
We don't have anybody working good faith and the other side -- the fact the matter is we do need a credible plan for reducing the rate of growth.
In the size of government mean the root cause this problem Martha really is the -- the scope.
All the regulations.
I understand it's only recognize that until we start addressing that.
I don't see conference returning I don't see the level of uncertainty being reduced and that's where did you get the economy going to have to rely on the private -- After that that's a tough situation if that's what looked Nat in terms of the next eighteen months in this thing as senator Ron Johnson is always good to hear from user and we thank you very much for being here -- Ramadan -- with us that we.
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