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The Economy and 2012: No Jobs, No Obama Reelection

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    A look at how job creation is the absolute key to the 2012 presidential election

  • Duration 6:02
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Last three years.

We've worked to stabilize the economy and we've made some progress.

An economy that was shrinking is now growing but to slowly.

We have private sector job growth but it's been offset by layoffs teachers and police firefighters and public.

Sector.

We still got a long way to go here.

Welcome back to our live Fox News special the economy and 2012 and voters are making it clear.

The road to 2012 starts and ends -- jobs and the economy.

President Obama desperate to spark job creation now doing everything he can't -- to sidestep congress.

This week even -- his executive powers in the name of getting people back to work.

And the president's approval rating taking a beating thanks to economy.

A recent Washington Post poll puts president Obama's overall approval at 42%.

That's not good.

But -- economic approval rating is even worse it's only 35%.

Former advisor -- Clinton Doug -- joins us.

That anywhere accepted desperate situation that it shouldn't be -- I -- -- -- get reelected I'm not suggest it's a presence to him but it should be how do we get -- but nonetheless.

That you're not gonna get reelected if the market had the job market keeps going down degrade.

How are absolutely this is the whole story in the election Greta.

No jobs no re election period.

When you look at it what did history come.

President Carter -- terrible economic situation he had only one term.

President Bush 41 ran into the same sort of situation with taxes and economy heating get reelected.

So it it's interesting to watch says -- but it in some ways though.

It looks like the president is it running against his own record but trying to demonize.

Congress have been -- -- -- Absolutely he's running against the congress.

Against the Republicans.

He's running as an outsider.

Anti Wall Street -- that he's doing everything -- can to become an outsider so he can get away from his own record.

What is congress though part of the problem I mean -- they standing in the way of implementing programs that will create jobs and act as limp back to the stimulus bill he got that.

And winning get a whole lot out of it so people are really gun shy and another one.

And yet then you've got the democratic.

Dodd-Frank bill which creates lots of regulations -- Republican says that's the problem well.

He makes the argument that you know he wants to do things that have traditionally been passed with bipartisan majorities like infrastructure bank.

Payroll tax cuts and he says he's being blocked by Republicans in congress.

He doesn't talk about things like regulation which arguably.

Our justice serious problems so he's running against.

The Republicans in congress reminiscent of Harry Truman running against a do nothing.

Congress the only problem is the Democrats control the senate.

The Republicans don't control the whole thing.

-- -- instant dynamic -- to him running on infrastructure and -- like a payroll taxes that.

Is that and that's when he got in February of 09 and it eight it would go whoop him give that we're successful always give me I in and you know that's and that's also -- I'm at a sensitive look up rob.

But he's really -- running against himself a blessing convince the American people that was a great idea he'd better come up with something different then half the stimulus now well.

He's got sort of a two step I stabilize the economy with my first stimulus the Republicans have blocked me from doing what I really wanted to do.

And -- -- FDR.

He's running against the big banks the Republicans corporate interest who somehow are frustrating the American people's desire to get back to work.

But insisting he says that he stabilized a teetering economy but then but -- says that the growth therapy isn't what we'd like it to be but the but -- it seems like.

Does not much to sell -- -- -- -- I stabilized that but it's still very sluggish a -- so unappealing on so many Americans when the unemployment rate you know it in his stabilization since February of 09 is actually gone up -- unemployment so it's not particularly convincing argument a lot of Americans.

Precisely the point Greta it is in convincing which is why he is going to demonize the Republicans whoever.

Very ultimately end up with -- presumably now Mitt Romney.

That's why the campaign will be.

And all probably negative because the best case he can say stabilize the economy a little economic grows.

In the third quarter but no reduction in unemployment so that's why we're gonna see tough tough negative ads.

Yeah I never expected miracles out of the present because -- coming was roughly took office that always said that that he owns the trend you know whatever the -- indicators are if they're good if they do if they're going in the right direction.

You know he owns it -- gets credit for but the problem is -- that indicators to the extent payments -- -- -- -- so sluggish to be unimpressed and that he doesn't have.

He have much time to turn this around them to own a good trend between now and -- So -- amber yeah I think his advisors have decided he's not gonna -- the trend.

The best case he can argue.

For stabilization.

And that's why.

You're gonna see a campaign where he tries run as an outsider.

Running against the Republicans running against congress and Wall Street anybody but his own record which he really can't defend.

And that is the -- legacy should also hope for a an opponent that is not particularly impressive or inspiring to the voters so.

So far it looks like he's gonna get somebody like that because Mitt Romney has is flip flops he has the problems.

With closing businesses and cutting jobs at Bain Capital so I think he's got an opponent in his mind that he thinks.

He can beat the electoral map though presents real challenges there's lot of people lot of core Democrats out of -- -- -- Except that then he may he may get a surprising -- man I'm so fed up against someone like Gary Herman Cain who had so far at least he's -- all I don't know what advancing but at least right now a lot of people are getting more -- not -- but a lot can change that that's -- thank you better.

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