Biden calls for more government spending
VP: 'So-called job creators' don't build economy
- Duration 9:07
- Date Jul 7, 2012
VP: 'So-called job creators' don't build economy
Also in this playlist...
This transcript is automatically generated
On -- week when the job market took another hit Joseph is hitting back with a plan and to get jobs back now.
-- a lot of welcome mobile -- that I -- box on top.
Vice president Joseph Biden -- an over the top picks for the economy and jobs.
And it has nothing to do with the private sector -- happens to be adding jobs right now.
-- -- Did those so called job creators.
Will make everything okay for the rest of us we believe.
But the way to build this country who -- we always from the middle.
That's how it's always been done and the way to do that is -- that things have always made our economy grow.
Innovation research development infrastructure and education.
-- -- -- the vice president did it not look like a hostage state.
You've got a government already spending more than -- three embarks on jobs and isn't getting much bang for those -- Now wants to spend more gearbox on job so we are asking this morning.
What the buck.
Charles -- -- McDowell Adam was his -- solace in just a pain with that.
Let's -- government was better than the private sector Communist Russia would be the most powerful nation.
In the world.
You know any government official let -- the vice president -- states its -- economy.
Purple or does it might you can reduce the riveted to have a -- a lot of -- we're obviously these days but.
It up for the vice president to suggest he has this little faith and American citizens.
Really did all we ever do is go out -- not to ambition they did they denigrate success.
And then they say let us do we can handle it it's just ridiculous and by the -- -- -- the audience was -- audience that.
And I don't think we're gonna.
-- candidate just take a look at -- behind a bit of delighted to be there but.
Adam you're looking at this you're hearing this you're watching this I mean you must even be saying c'mon.
-- -- -- Well Neil I'm delighted to be here just just just just to say just to get -- out here.
Now I understand your point but I I don't agree at all I mean I'd I'd listen to what he said I read what he said all of what he said by the way and I think first -- -- This is politics he's -- the private equity crowd is hitting.
Mitt Romney I don't agree with all the criticisms of private equity but what he's saying -- these so called job creators.
That's true they are interested in doing what's right for their investors sometimes that helps create jobs in the US sometimes it doesn't that's a -- So at times and I can be it's clearly some group that Adam.
C'mon you know what's called and sometimes a little I don't know I mean those are using your utility that used in all your great resurgent.
Have found that private equity is -- net job killer -- -- net job creator.
I'm saying that creating jobs in the United States in some sort in some jurisdiction is not the job of the private equity industry my word value and a final bill that is it what I would want them to let you know your business what I ordered the -- -- investing in education.
And infrastructure that's exactly what kind of -- should be doing there's nothing objectionable -- don't you and I cover this stuff.
You know we've been covering this stuff a long time.
This is a pretty simple question they create jobs but they kill jobs based on my research they create a lot more jobs what do you say -- Tablet but Charlie we can have the same debate about you know do firefighters.
Or police forces create job well we.
Don't go away and I think deserves a little there -- -- you may -- -- ministerial we really wants to argue over this very point and and that's the point.
That whether private jobs or not we're not getting them we're not getting -- -- -- -- I want.
Does the latest quarter is running at about third the pace who were in the first quarter and it sets a very big worries for this quarter in the final.
It sets up very big worries for the White House I disagree with Adam on the point is that this is just political it is not this is the economic policy.
Of this White House that government knows better than elected officials know better than people who work and run private company.
And we have gotten -- the person -- our debt our national debt now.
As of the percentage held by the public.
If -- in the year will be 78%.
In no way.
It was 40%.
So where is that money going not to create jobs because we still have an unemployment rate of eight point 2%.
One percentage point.
Lower the one point one percentage points lower -- where was it everywhere nine -- as a but I.
It has to be a class argument or even though with the end of the week administration was arguing much -- that -- -- -- was Fox's fault.
I do think Charles we have to get back to the idea the jobs.
Are just not materialize and you can argue whether that's just a class argument or not it's just a basic economic fact argument the jobs aren't materializing.
The unemployment rate is staying stubbornly high.
The frustration -- staying stubbornly high.
And and that is a real -- We -- factory orders back to where they were in the height of the recession we have the services sector looking at numbers that were just after the recession.
I mean this -- -- guys.
We're gone backwards there's no doubt about it and I don't I don't I don't the Biden you know this about.
By the way private equity two when I think job creators I'm thinking about.
Husband -- wife alone.
A lawn mowing service and they have twelve employees because those are the kind of people that are really created jobs and I think those the policies in the threats from the administration.
Have held back.
These kind of went though I think -- obamacare does not have a video and what they think is part of the big -- the -- they are trying to say they're trying to blame what's going on right now there's no doubt that on the put either that or picture it may be -- -- they -- that what you punish everyone of course represented the Obama tax thing on dividends doesn't just hit very rich people you got 250 grand rightly did it's a smokes it hits it hits and hit it hurts it hurts of people investing in a private economy I think what you see here.
Is an attack on the private economy.
Relentless and journalists not holding them accountable -- a very simple fact.
Outside is where I get -- you know -- odds -- -- Adam.
Are hard -- a private equity.
The notion that private money goes into these companies did it cost jobs in the long run or did as it hurt job is.
Cost of creating jobs on Ellen yeah it's created more jobs and people like -- just say other current seems to be too and yet that you don't get in Condo out there front center.
Is that if you would just it -- Republicans it just let us and more money than unemployment rate it would have been here.
Here's what I'm saying nobody here but I do want it addresses because here's what I do see -- my simple mind I see the blame game continued just in a more artful form.
So the reason why we're not seeing more private sector -- gains because -- private sector guys were running this or just self assess obese.
Then it's boxes does materialize in this class warfare.
It's everyone but them -- forty.
Two months into an administration that is still busy blaming the other guy still blaming private equity folks still blaming anyone.
But itself and I think therein lies the -- That that did that voters are just getting rubbed the wrong way.
-- well we can either -- I I agree -- -- -- we can either we can either play their game -- all we can play our game I would say that -- -- Again it's just what is true I can tell people -- -- weight -- -- a thyroid issue.
It's a Burger -- -- -- burger tonight go to Fredricka it's not a thought well -- it's a -- because it has.
My point is yeah why don't you face facts why does the administration look -- the -- that we've had 42 months to get our act together to get this moving and the needles not moving depending.
It's going in reverse we can't blame private equity guys we can't blame sinister private market forces -- they're not -- sinister.
We have to start taking some responsibility.
For this I think at that -- a lot of Americans who are critical news station.
Would at least on that point you give it to -- that they -- way to go finally -- waking up to the obvious.
I think you give the voters far too much credit to suggest that if you used if you show any weakness in politics or any hope.
I don't play I don't believe it I don't believe Tyler Kennedy Edmonton will be admitted a mistake get to the Bay -- -- His popularity shot up ten points within days I think you you give and very sort trip to voters you think Americans are stupid and I think -- think today it will say.
All of -- is all market don't as well political ideologues who don't think there are lots -- -- event.
But I just want to make one point we always give too much credit to the president when times are good and we blame the president too much when times are bad the.
Absolutely absolutely just I didn't know I was just -- -- say bad to say he was all but Hitler reincarnated I'd just spelling you know.
That this one has got to wake up and smell the coffee that he's responsible for at least putting it on the so.
The but the frightening possibility is Neil that they don't believe that they are responsible for any of this they do believe -- it's everybody else is all gonna everybody else's problem.
Frightening thing this is what they want.
How about this is that outcome that the president is now important not back there yeah I.
I had no clue what he's responsible.
A little bit I don't know -- -- I'm not fair trial.
No no I don't get burgers now you're -- -- -- -- -- -- -- but I will say it is again again again it's not a thyroid issue although the camera does they have that deep -- plenty.