Fox News
Expand
Browse All Video
Watch Live

You're watching...

Rove responds to latest unemployment numbers

Details

  • Description

    Only 96,000 jobs added last month

  • Duration 7:02
  • Date

Clips

Also in this playlist...

Politics Fair and Balanced

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

President Obama making his case for reelection last night but -- a very different tone from his acceptance speech in 2008.

And his keynote in 2004.

When he first spoke about hope that the Democratic National Convention Nicholas.

-- later.

That hope -- been tested.

But -- cost of war.

-- one of the worst economic crises in history.

And by political gridlock -- left us wondering whether it's still even possible to tackle the challenges of our time.

Karl Rove joins -- former senior advisor and deputy chief of staff to president George W.

Bush.

He is also a Fox News contributor.

On blood to get your take on the speech but I want to get first of all Carl your take on the jobs numbers that just came out economists.

We're expecting and hoping for a 125000.

New jobs instead it's 96000.

So.

Obviously the job market is slowing but -- -- president will likely say hey wait a minute.

-- we're heading in the right direction because the overall unemployment number drop from eight point three to eight point want.

You know we'll look -- Stuart Varney pointed out earlier.

While they gained 96000 jobs and the unemployment rate went down the only reason it did is because four times as many people became so discouraged.

They dropped out of the workforce altogether think about that.

96000 people get the 368000.

Or so discouraged that they they give up we now have the lowest.

Workforce participation rate 63 point 5%.

That we've had -- Phillies and you lost on the voters though Carl I mean your -- out one number -- that's the simplification.

Of the snow that.

No look here's why.

-- six this is the broadest.

The broadest range of for gauge of unemployment.

Fourteen point 7% of all Americans are.

People who are out of work.

Working part time but looking for full time work or so discouraged.

That they have given up looking altogether so we're talking about one nearly one out of every six Americans.

We know who those people are we all know somebody who's in that position here we all of a family member or friend who -- and you know either not working.

Or you're working part time in desperate to put for a full time work or so -- they've given up working and that a good.

And we also have some sense that it should be better effect the president said his people said the president said if you pass a stimulus bill unemployment today would be five point 6% and if we did nothing if we did nothing.

It would be 6% and its eight point one so no -- you know these numbers translate into real people's.

Lives and we know people who are suffering.

And -- too much of -- gone on in America today and the president said in a last night he said I won't pretend the path I'm offering is easy and quick what what intimated he.

You know he said -- never -- said it would.

Right exactly and and and and it hasn't happened he's he promised us health insurance premiums would be down 2500 dollars a month by the end of 2000 -- and he said it.

I'll cut the deficit in half by the end of my first term.

He made very specific promises and president and pledges Greg and most of them on the economy and it's not -- -- so.

So yeah he's yeah turnovers in a -- of -- that he really he didn't talk about his two signature achievements the stimulus he didn't talk about it all relate and there was only a veiled reference to the health care bill.

That he got past.

Well yeah absolutely they did have them in the video we have to acknowledge that but the fact that the president didn't mention his two biggest domestic accomplishments.

Says something about what he what he thinks it which is that.

Neither one of these things are very popular and they didn't work when you have a New York Times poll that says -- 7% of the American people think the stimulus bill created jobs.

You're in trouble if you're a Democrat president thinks that's -- You know to give our economy revved up again so if you're taking is look we've heard these promises before.

Except now there are smaller less ambitious is that it yeah.

Yeah like for example last night -- said we're gonna cut oil imports net oil imports in half by 20/20 when he ran for years ago he said.

I'm gonna and it ended dependence on Middle Eastern oil.

Within eight years he said for -- -- for years ago I'll cut the deficit in half to about that would make about 530 billion dollars in my first term in office.

Last night he set -- when it cut four trillion dollar from the deficit over the next ten years.

Well his deficit but today is over a trillion dollars and four years it will be over a trillion dollars and -- it happened he said I'm -- train.

A million people for manufacturing jobs for years ago we said we're gonna -- millions of people for manufacturing jobs including.

Five million people for green energy alone and yet last month we lost -- -- thousand.

Manufacturing growth just such -- he he.

Clay and that his plan will reduce the deficit by four trillion -- said independent analysis confirms that I looked again this morning.

At the CBO analysis which is nonpartisan.

And it says his plan will increase.

The deficit by six point four.

I trillion dollars he's only off then by what ten trillion.

Right exactly look it's a phony number first of all that for trade includes a trillion dollars worth of -- of of savings that were achieved last year.

So he's he's county yes to last year's savings again it includes 848.

Billion dollars.

The of savings that are sitting -- that are achieved by assuming that the Iraq and Afghan wars go for the next ten years time.

And then you magically assume that I -- ended in twelve and that Afghanistan -- in fourteen.

And you get 848 did was -- it it as 800 billion dollars in savings and lower interest costs on those two other previously claimed savings.

I didn't know that interest was a spending program is what we we we're obligated -- a better way to look.

What better way to look at this Greg is is that he adds a trillion dollars in new spending above the house Republican budget.

And 300 billion dollars in taxes over the next ten years.

A net of 700 billion dollars more on spending on the on the negative side in the -- was an claiming credit for some of the things that your ex boss did -- Yeah I thought it was interesting he said I ended the war and -- Iraq responsibly will he -- he edited on the status of forces agreement.

The bush negotiated with the -- Iraqis before he left office.

You know he claimed credit last night for energy programs that President Bush had -- they had put in place he said look at all these great things we now have states.

We'll setting standards for what children should learn and meeting those standards that's the president President Bush's No Child Left Behind program at least Bill Clinton had the courtesy to say we need to applaud President Bush for the path far initiative.

The President Obama claimed -- achievements as his own.

-- Karl -- great -- thanks very much with -- ever present white board that that threw me -- get a white border and jobs today thank you thank -- thank you gonna take care --

Load More