Fox News
Expand
Browse All Video
Watch Live

You're watching...

Obama adviser claims president created more jobs than Reagan

Details

  • Description

    Fair and balanced debate on comments by Stephanie Cutter

  • Duration 6:44
  • Date

Clips

Also in this playlist...

2012 Elections

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Hi back election.

Played well let's -- a member of president Obama's campaign team is now saying.

That President Obama has created more jobs during his recovery and president Ronald Reagan did it back in the eighties here's Stephanie Cutter.

Well I think that worker probably.

Has a good understanding of what's happened over the past four years in terms of the president coming in and seeing 800000 jobs.

Lost on the day that the president was being sworn in hinting the president moving pretty quickly to stem the losses to turn the economy around and over the past.

You know 27 months we've created four point five million private sector jobs.

That's more jobs -- that within the bush recovery in the Reagan recovery there's obviously -- that we need to do.

Monica Crowley is radio talk show host does sound former pollster to President Bill Clinton both are Fox News can -- Aviators.

Monica let me give me the first crack at this issue right.

Well apparently according to Stephanie Cutter is mourning in America if -- problem is it's unsure.

Look -- by every economic measure at the Reagan recovery is far outpacing what we now call the Obama recovery but it's not really recovery I think we're gonna need a recovery from the U recovery.

Look in the first 37 months of the Reagan recovery we had.

In net gain of nine point eight million new jobs in the first 37 months of the Obama recovery -- -- a net gain of two point seven.

Million new jobs also when you look month by month.

We had one month last year where we had zero net new new jobs created.

One month in the Reagan recovery we had one point one million new jobs created Moneyline.

Limited -- neighbor went let's just listen I'm so eloquently put together an ever expect to have it back up exactly your -- so let's just follows up and then.

Excuse me part of an image when a show people the number on the screen.

This is the period that is being discussed here as she brought up -- 27 month period.

Between may 2010 and July 20102012.

Where we are now four point two.

Million private sector jobs added and then let's look at the Reagan comparison.

These are.

Bureau of Labor Statistics numbers.

The same time -- -- my time period November 82 to January 857.

Million jobs created in those numbers come from the bureau.

Of labor statistics has SS -- -- finishing fat.

You know I was just gonna say by every measure including job creation month to month the overall job creation over the lens of the recovery as well as the labor participation rate.

-- -- -- Reagan once that recovery got going anybody who wanted -- job was looking for one.

Could essentially find one under President Obama the labor participation rate is down to 63 point 7%.

Which is a historic low so by every measure the Reagan recovery really created a boom where the Obama recovery has not.

You -- you think about sentiment in the country and I think back to that period dad.

And there was a feeling that you know things were turning around and when you look at the new right track wrong track numbers that came out yesterday.

61%.

Said that they felt that we're on the wrong track I mean can compare it in those terms you know -- people isn't is it morning in America again is that the sentiment.

Well you know.

Opinion in 1984 turned around slowly.

When the morning in America and started running -- that in.

January and February of 84 it was a very close election in Walter Mondale was actually.

I had -- Ronald Reagan I think the statistics Monica sites are largely correct with one caveat.

The bush recession was responsible.

For the deep ditch we were in the American people understand that -- and that's one of the reasons why the wrong track.

Numbers are what they are so.

When asked to -- bush or Obama for current.

Economic -- still.

More people -- President Bush and President Obama the recover it -- recovery is undeniably weaker than we would like it to be Stephanie Cutter.

It's probably going further than she showed that job gracious about the same.

Under George W.

Bush and under President Obama but bottom line Obama's argument is that he turned around us stumbling.

And dying American.

Economy and is on the path to -- two some revitalization.

With all the problems both you and Monica and rightly site.

It will you rightly pointed out also -- in your notes before we talked that that it with the cost that those jobs have come -- When you when you break down a stimulus has something like 700000.

Dollars or drop it means that that's -- pretty topped number Mike Palin win on the.

Now know what luck we have had unprecedented fiscal and monetary stimulus since this recession kicked in in the fall of 2008 and look at what we have -- We have 42 consecutive months of 8% plus unemployment which is the longest stretch since the Great Depression.

And the big point about this is the result of policy policy does in fact matter so when she invoked the Reagan recovery.

You have to keep in mind that Reagan was.

Was able to unleash the private sector to death that incredible job creation and economic growth he deregulated.

He cut taxes with the most unprecedented.

A tax reform.

In the summer of 1981.

Barack Obama has done the exact opposite he -- in large government to to unprecedented levels.

And that's why he's getting the opposite result of the Reagan recovery because he's done the.

Opposite of Ronald and that is that's the big question here the underlying philosophy about how to turn things around whether or not it's -- you know reign in government and allow the private sector.

Tax cuts that you hope will turn around to stimulate business -- and that that's.

That's the opposite of what we're seeing that the -- is totally different.

-- -- what Ronald Reagan got in both 81 and an 85 was bipartisanship the Democrats were willing to go along.

And it benefit all Americans -- I think.

The level of bipartisanship.

That President Obama has seen has been.

Sadly not enough now the president himself I think it's culpable but I think the Republicans particularly the -- Tea Party need to be held accountable accountable and one more point.

But the bottom line Monica is exactly right.

Policy matters and I would sit here and say to both -- you.

But I am not convinced the governor Romney has yet to articulate a strategy to create jobs grow the economy.

And turn America around and I would say the reason the races close is because people don't see in Mitt Romney what they rightly saw in Ronald Reagan.

The best in town that is the town -- -- 59 point pro growth economic plan including tax reform an entitlement reform so it's a very Reagan asked pro growth.

Approached -- now maybe he's usually when and where children -- not a habit lately -- -- the point perhaps it has not been communicated in a way that people are wrapping their arms around and understanding and that and you know that's that's clearly the job that the -- campaign has cut out for them.

I at this point -- and does very interesting background on all that and think steel -- and East -- thank --

Load More