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Obama pushes 'bottom-up' economics

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    President blasts corporations, wealthy investors, market forces

  • Duration 5:48
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Welcome back everybody President Obama calls it bottom up economics and confuse me to listen.

We don't mean more top down economics.

What we -- is some some.

Middle class -- -- -- -- some some bottom up economics.

But what is bottom up economics -- it doubling the spending on food stamps and welfare programs only to see an increase in poverty in America.

Is it ignoring -- struggling middle class while bailing out UAW pals by handing a hundred.

Billion dollars to GM and Chrysler.

Is it.

A hundred billion dollars of our money given Obama friends and donors calling them green energy investments.

It begs the question is President Obama.

Mind numbing -- stupid on the economy or does he know exactly.

What he's doing remember this.

We are -- there's -- way.

From fundamentally transforming the united states of a man.

Bob.

-- -- bottom up economics well what the hell it is is he shouldn't say that we're by the way the what he said if I'm.

They said I I know that you had to write that -- because you left out.

The important part of what he said which middle class out.

One thing we know is that when you cut taxes in this trickle down theory.

Of economics -- -- been disproved now it doesn't work the greatest economic growth in this country push a Bill Clinton raise taxes on the upper income people.

And we had eight years the British -- United States I think that's restart -- middle class out.

And trying to get to Bob Perry don't go there.

We don't -- outrun it in the bottom part of well it trying to get people trying to get.

Food stamps.

Yet dynasty -- said but the bottom up yet the -- address.

Bent we spent six almost 700 billion dollars a year on welfare programs -- poverty remains about the same as it was thirty years ago.

One of the big -- biggest problems about that right now is that you see.

More and more people -- -- I don't think they want to necessarily be on assistance most talented most people there are we've seen and egregious examples and about Apple's final but.

But once you're on government assistance of any kind it's harder to get off.

And so if I'm just not saying that word Europe but if you look across the pond and the know what they're dealing with he could.

-- twenty years down the road if we don't make some serious changes.

And we have a lot of tools our disposal to be able to to to change that it's not rocket science what we know we need to be able to do -- not for example -- give you one example the highest corporate tax rate in the world.

Is here in America why would you -- have you grow your businesses and start your businesses here especially on in a more global economy when -- could be other places -- Absolutely right that's why it's exporting America why would you you should be thrown out of your job if you make the decisions about where your country and where your company does business and much country.

He did say -- here why don't want to pay extra money while I wanna be penalized entrepreneurship.

In makes no sense that it Connecticut enjoyed this corporate tax rate was there before Obama took office so it's not Obama that it's not like nobody I cannot I ever uttered the word -- -- I was to respond to I don't think she did you end up in the and I I admit that you would see him well pull -- -- just did was it.

The made you think you.

-- -- -- bottom up well hey I know he met it was a bottom up it was bottoms up and because it.

Economy that he's created that is so depressing a tragedy drink.

Alcohol sales go up.

Therefore re -- -- audience it's not just trickle up its triple down its trickle all over the place now the -- that the Republican theory that I finished.

Sorry I thought you were don't know because it goes to a bigger question it's the oldest question.

-- the beginning of time you know give -- give a man a fish -- for a day teaching -- to -- You know he can eat for a lifetime and right now we have an administration that is about giving away.

Fit seeks to change and into the White House to long John Silver and that's that you finish in a while to get there you I like Atlanta athletic girls.

That was that was what I got.

The the Republican theory about trickle -- does is -- trickle down a rising tide raises all yachts.

And in my theory about this is it -- you -- -- a given the money is spent on welfare it was not meant to get people.

Out of welfare initially most of these programs are meant to help people subsist who were on welfare number one.

There are some program should job -- some other things -- we know that the best way to get at a welfare for those at the top of the welfare line.

Is to get a bit a growing economy and they can move into the middle class but you know the didn't even read it -- stages -- Only it's the old liberals comment though -- -- it's bad now but can imagine how bad it would be if we hadn't spend a trillion or fifteen or twenty -- yeah it would have been much worse now can't get married about how you're -- -- get into well.

The air when you look at the -- -- city were mentioning earlier and -- Welfare spending federal offers and he's at 41%.

-- 193.

Billion dollars extra per year.

Who wanna give that money back and say you know what forget it when you get used to and you become a cost and -- Our nation's crack now is free money other thing.

-- most of that is triggered by the recession automatic triggering -- if you lose you job so it's not what.

But what about I think Bob I -- -- I think we're not grant one thing which is the way out of this is his growth economic growth then the question is -- Heidi get their president Obama's has laid out his -- And Romney is laid out his unit the voters are gonna have to decide it says here in uphold a 25% of voters are up for grabs so both of them have.

Little look like four out of -- or that -- -- to make -- -- -- than the polls as dozens of -- most people don't believe the president can increase jobs anyway 55% say I have no impact on the impact.

-- we.

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