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Weekly Jobless Claims Fall to 397,000

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    Rep. Jan Schakowsky on new numbers, president's economic plan

  • Duration 7:24
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I'll tell you this if President Obama.

And how congressional Democrats had not acted we would be 15%.

Unemployment.

-- -- Pelosi just said that without President Obama were the congressional Democrats in employment rate would be a lot of high that is now 50%.

My next guest would not agree more democratic congresswoman genachowski.

Congresswoman.

Do you believe.

Absolutely I was looking at the charts of Alan Blinder and Mark -- Zandi from Moody's and former consultant with that the camp be McCain campaign.

And he has a whole chart would be happy to send it to you predicting what unemployment would have been.

Without the stimulus and other federal action yes I certainly do know that's like trying to prove something that never wants -- No I know exactly.

It exactly not you don't -- with the greatest proof is that a lot of those stimulus hypocrites who say that.

It created no jobs are often the first ones to show up at the ribbon cutting.

When that new police station so vendor that new -- bridge project begins they they'll well we got out live in order Tenet to get up.

My right when congress and I write about that but there's no way to prove something -- that's right and I guess what -- -- we know we're down a net.

Two and a half million jobs since the president took office just down a net 2 and -- -- jobs so maybe what a lot worse.

Do you do you don't you can argue about it a lot worse but right -- is simply no way to know I know is -- your party when the president then.

George Bush said things -- be a lot worse in Iraq if -- weren't in there when we were.

The criticism was that it was a fair criticism how can you prove that Mr.

President -- Lance -- the same.

That day.

Okay well that's very easy because there were big lies about whether or not there were weapons of maps astronomers don't mix and -- it that it would have been worse had we not done it.

There was -- -- little -- now you're certainly wouldn't have gotten worse had we not done stimulus prove it what it.

-- -- I turned to their Congressional Budget Office I turned to the economist.

Who talk about how many jobs would have been creative work with what would it not you know.

Would have been lost and would have been not been created we do know that there were jobs are created yes we can count those jobs that actually were created -- No no you're right you're right but -- -- -- -- can't we we we cannot quantified and nowhere in -- -- -- the CBO.

Or Moody's or -- Iranians on -- guys.

Come to the conclusion you just did that and on this great and -- known facts are looked at this that is north and 9% would it be 50%.

Went around it.

Well that's exactly what what what's they have they have wider dead yes although an America that -- congressman didn't -- backwards that did you talk about.

Let's say the two million jobs.

They are arguing regain some stimulus you cannot -- if you took that out.

The unemployment rate would have been 15%.

Without.

Exactly -- that's exactly what that calculated using all kinds of economic battle saying that if we hadn't.

Put those people to work through the stimulus program.

And other government programs finished back that would be -- I'm not I'm not an economist you're right it's so I rely on these economists.

Almost all of whom I think just about all of whom bush said yes indeed the stimulus program did just that -- created jobs.

And -- -- -- -- when they as I've known about it not everyone is that that I don't need a calculator -- used.

My fingers and toes to count some of these jobs because the fact of the matter is -- you argue.

That you gained two million jobs doing the math backwards congresswoman you would never be able.

To claim use -- six percentage points off the unemployment rate.

You have to get something in excess of ten million jobs.

-- to have done that's I guess what I'm asking you is leaving aside need be the fact that you and I did disagree on the math involved here.

You seem to be just defined.

Stimulus for saying and that more stimulus -- -- -- Will get this unemployment rate down even further when -- back since well stimulus actually unemployment rate is higher not lower -- is higher.

Actually they are they -- to play better redhead tips 10% and so it's it's actually lower than it that it was now when this started out and I you know -- on that when this started we we believe we were kind of running.

Went right now we're at around 911 okay so.

That sort of on the -- -- I -- -- don't -- numbers really don't you don't you don't have to believe that but there -- I think.

-- are saying now and even -- some symbols commission which I was.

Said we do not want to cut the budget in order that that that actually would cost jobs again mark -- said.

The the budget that was passed by the Republicans the Paul Ryan budget -- -- went into effect would be about one point seven million jobs.

Lost because.

It would make all kinds of cuts that would cause real jobs lost it -- and so that's let alone the just destroying -- -- About a -- and congressman -- we're not willing to make.

Any kind of substance it cuts and when I don't cuts as you know -- yeah we're having now will tell you what's in London and lo and spending -- -- about -- One trillion dollars in spending over the next and that is.

-- -- -- -- -- -- -- -- -- me -- that the what I economists agree on that right now.

It is the it is the federal government that needs to step in.

And help to jump start the private sector get those jobs going in the private sector create some -- -- that people will go out and spend money -- and.

That's customers how about getting new regulations -- businesses back.

How about getting taxes -- there about how about doing something that had nothing to do with a -- -- helping aren't ultimately are these guys not -- Salmonella and you know what you know.

Do you stop but helping.

-- you know what that is not true that is up to even people will self identify as Tea Party years saying that they would rather see jobs than budget cuts right now that they don't want to see that kind of programs.

That are in the American Jobs Act 63% of Americans support.

The act components of the American Jobs Act they dole think the cutting the budget is awaited goal right now I'm has yet.

What they do tell made from bakers to CEOs.

From those who run small mom and pop concerns that -- Christmas ornaments.

To doha who -- tractors.

Is just get wants to get off our back.

You know at their regular -- get the taxes down leaving the budgets aren't we what they are saying is.

On better -- Riyadh you know what he -- about trying to use.

It is in order in order to -- to sit to have dirty air.

And dirty water and fewer new food inspectors.

Found that does not what people want to go back to that don't want of that go back to epidemics.

Of the house and did -- and I got to resemble what it's still new regulations -- -- congresswoman so nasty little guy Hank.

And the president do the lot it live at said that there are five regulations that they went through that they -- -- As being too burdensome all right congresswoman because the united around and around but I -- -- you have a strong opinion on it good seeing you again.

Good to see -- -- banks are.

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