Also in this playlist...
This transcript is automatically generated
And I think.
For your country.
Energy education national security and the deficit real achievable.
Plans that will lead to new jobs more opportunity.
And rebuild this economy on a stronger foundation that's what we can do in the next four years.
And that was President Obama and his Democratic National Convention.
Nomination acceptance speech.
That win which he urged Americans to just hold on a little longer that the hope and the change that he had promised for years ago.
Was coming they just needed to hold on.
And this is -- flag as we wrap up the party here in Charlotte as everybody's getting out of town but we have to check in on one last important thing.
And that is that today.
Just -- Hours after the president finished his speech.
Which was a thundering success here in the Time Warner Cable Arena in Charlotte the -- Bureau of Labor Statistics this morning came out with new jobs numbers.
That indicated that a lot of Americans weren't holding off.
That in fact a lot of Americans were giving up hope and we saw them labor force shrank to its lowest level.
Since 1981 in 1981.
You didn't have nearly as many women working as a as a percentage of the labor force and we rented in the middle of the of a very short.
So what is it all mean.
How do we get to these numbers what are the implications.
Let's break it down with our friend rich -- of the Fox Business Network.
Who's been -- saying in Washington what we've been down here in Charlotte -- how you doing.
Not just chill actually my friend you nailed it just perfectly there -- And and hold on is that -- Wilson Phillips on I believe today get that right.
It is that is correct that's right Carnie Philips is gonna sue him titled title infringement but look -- what's the deal.
What's the deal with these numbers first explain explain -- -- non business understanding people these numbers and what they mean.
Yeah basically not -- Chris what you need is anywhere between a 115200000.
Jobs a month.
Just to keep pace with population growth.
We didn't see that they added 96000 jobs in the month of August private sector 103000.
Of those jobs the government shed six.
And when you look at those specific numbers you also have to look at the two previous months because the Bureau of Labor Statistics.
Revises the last two jobs reports.
And you take those two months and the government actually over estimated -- those two months.
So there were 41000 fewer jobs created in June and July than first reported and in this month came in for August came in below expectations.
-- you look at the unemployment rate and the problem there is it did fall of course from eight point 3% eight point 1%.
But that's a reflection -- you mentioned Chris of all those folks.
Leaving the labor force because the unemployment rate only factors -- people who are actively looking for a job and in this case.
People dropped out of the labor force in August the participation rate falls -- point two percentage points it.
63 and a half percent they may not -- much.
Until we just that you know that it's the lowest it's been since 1981.
Greater than a generation.
So up and down there isn't all that much positive news to point to other than what Democrats have been saying is it okay at least we've got.
Job creation the problem is that job creation isn't even enough to keep up with population growth.
All right so let's figure it out.
Wolf first of all.
Let's address this controversy or alleged controversy or whatever it is.
That the president may have gotten a sneak peek at the numbers -- is there any truth to that does it matter who cares.
You know that it does it matter who cares that's probably most accurate of that but that will.
I will kind of -- this latest out is it all and be policy directive number three it's an exciting one and it says.
That the council of economic chair gets access to the data.
As it becomes available the Department of Labor says that's typically the afternoon before so I asked Alan -- who's -- CEA chair.
When you see the numbers and did you tell the president.
He said we -- the directive by it I'm not gonna tell you and I'm not gonna tell anyone else other than the president who I had this conversation itself.
If you listen to the department of -- saying on this time line in the White House should have had access to that information some point yesterday afternoon.
Which might about the president.
-- the language in his speech.
Right probably not too much.
Right guys so.
Sixty days until the election this is -- disheartening.
Statistic this labor force statistic is disheartening.
What's that trajectory what's the forecast for the next few months is there a chance that the president can shows and turn around and experience that.
It seems as though -- we've got two jobs report -- one coming just a few days before the November 6 election.
It seems as though most economists are calling four or more of the same in this falls in the category.
It's really a range here that we've seen but the last six months of really all -- within this range of under performing not the 250000.
Plus jobs -- we need.
To significantly reduce the unemployment rate to significantly start to -- into that high unemployment we've seen since the beginning of the recession.
And so there's not much out there to suggest.
That it's going to get.
Noticeably better in the next couple of months the Federal Reserve is likely to act next week because these numbers.
Are so lackluster.
But it seems as though by Election Day it's going to look much.
Like this at least that's what analysts -- save it Chris imagine if the president did couch his speech last night and we can credit his reelection.
To OMB policy directive number three.
Rid sheds and knows a lot of things I don't know if he -- that putting -- a lot of things that he's had a -- his friend of this Internet telecast.
And -- we thank you for being with us today.
My body is tired but my spirit is strong and we're gonna keep on keeping on with more political excellence raw political excellence.
In a moment because Mary Katharine Ham is here it is in fact -- time you will enjoy that so stick around.
This president can ask us to be patient.
This president can tell us it was someone else's fault.
But this president cannot tell us that you're better off today -- when he took office.
Here in North Carolina we're not better off under President Obama his defense cuts will weaken national security and threatened thousands of North Carolina jobs.
Romney's plan reverse -- defense cuts strengthen our military created over 350000.
Was a little bit of hi how you doing from Mitt Romney to Barack Obama as the next -- the final phase of the general election starts.
In this power play.
Here in Charlotte, North Carolina and Mitt Romney dropped a bomb on President Obama last night tapping into the more than a hundred million dollars.
Of general election cash.
That he has on hand.
With -- Dozen states are more with the blitz.
Attack -- the tacky ads against the president including here in North Carolina which the Republicans are very keen.
To get off the table quickly this is a red state traditionally hadn't voted for a Democrat since 1964 and they want to bring it back.
Mary Katharine Ham.
It's from North Carolina I am and deal with the pendulum ally and -- all -- -- -- and dad Mary Katherine.
You are we should point out.
Available to view and hot -- you also make Internet television -- do a little bit -- a little bit though she's never asked me to be on her show but that's okay.
It's not quite as professional -- -- that's my friend you know it's this is some pretty consistent pretty polished -- -- the so here's the deal.
Was ready to drop this he had the money they want to get going.
Let's start first -- The message that you see in the -- to -- heard about this stuff.
I have heard about I've not yet watch them.
I've been wrapping up my response to last night speeds.
But I think.
Something that I think even pundits.
Tend to forget as were going day by day and then all of a sudden we're sixty days out and they have not dropped a lot of money yet.
Barack Obama's -- -- 140 million dollars at one point.
And they -- this thing to a draw which -- I think.
Frankly they'd feel better if they were appointed better.
But there they got a bigger bounce -- -- Canada aren't -- bud.
They got a bunch of money to spend and I think I like this -- that they've been going obvious that it probably hardening up -- message that I like that it's.
Not to vote for him again.
I go like that sort of tone that they're taking a scene out on the Airways and Virginia a lot and I think it's an effective way to reach -- very few undecided voters that might be out there.
And we had the ad yesterday we -- the -- that the RNC or the -- I think was running -- ended -- breaking up.
It's hard to do the Obama Kleenex.
Okay so North Carolina -- north Carolinians.
Probably should be doing better in this state this is a state with a strong Republican voters may have Kansas State it's trending back to the Republican side on the state level.
Why is Romney -- I think he's probably -- -- overall but I think most actually frequently.
Republicans on a national level don't perform as well I think they should if you look at the again.
Maybe if you look at the the state democratic party for instance in 08 in intended.
Just horrible scandals left and right the former governor almost being indicted at one point.
And then -- they don't seem to pay huge price for -- there is that old southern Democrats -- in North Carolina still some people may be returning to their reads now -- I think.
-- Romney safe here.
But I think that it.
Probably signals a problem in the south in general that Huckabee I come to hug me it's trying to fix when he made his specifics -- to evangelicals at BR NC.
We'll see -- hopes that a.
M it's not like the Mandela years ago vote for Obama I mean.
He did he did well which he did better with Christians than Democrats usually do but those are probably mainline Protestants -- starchy school starts and the collars.
-- it is I think you're safe but it does explain why maybe he's not doing as well as we think he should be in the statement.
I've said north -- off the table for a while.
We're gonna have to have a debate with you and Joseph Trippi because Joseph Trippi swears he swears he owns this he stands on the ground that North Carolina.
I now have I now have an expensive lunch bet with Joseph -- on this because it looks very improbable to me about what you know lock up -- okay come along and just -- I all right so.
In terms of the messaging last night from the president just talked about the jobs numbers we just talked about how.
I read about it power play today which I will -- here.
I swear Internet I -- -- you've been very busy here.
As a matter of fact -- -- get that camera operator to hand over and show what's going on over here.
Debbie Wasserman Schultz who's the chairwoman of the Democratic National Committee is talking to is getting ready to talk to -- regular television.
She's over there.
As we get the fan out of the way did you think that.
This is what this -- that's what we're talking about you don't get this stuff on the regular television.
So there she is over there looking.
Ready to go.
All right but enough about other people let's talk about us Mary Kathryn let's go back to us.
The the task for Democrats here is to talk about.
Why what I'm sure she'll be talking about.
The jobs numbers didn't seem to comport with the president's message last night.
What and that's what they don't want to talk about that's why we had a three day Iran through 1996.
And ninety even 1984 and a survivor and reminiscing about that -- we had a lot of classics.
And I don't think it's all that surprising that after three days -- sort of indulging in that nostalgia.
-- I said earlier today that I think.
Of almost sort of kneecap finest Dallas -- game out there and then that was the moment where they had to deal with 2012 and it's tough to deal with -- end.
He is in a bit of a box he's a great speaker I don't think I think it's been awhile since he's really delivered on a big speech partly because he's dealing with issues that were harder than.
Running in 08 or being the wonder came in 2000 or so.
I'm not the president felt a little flat because the reality is those job numbers that came out today -- not answering it seemed.
I'm like a good speech I mean he did -- thing that he does he soared there was a lot I mean there was a lot they -- substance but it wasn't a super sensitive speech.
-- his soaring feel a little.
In the room they felt that right I think watching on TV.
It didn't feel like we've been here before we've been doing this a lot we've heard you speak many many times that there was something that.
I felt sort of came through with both Biden and Obama which was there was a bit she.
-- and it like you could feel like that they were.
-- doing routine now Romney felt last week like he was doing the audio elements chronic president Ronald Disney we'll have got senator and he frankly benefits from the fact that he.
Never going to be.
That awesome speaker Brian really is going to be a great speaker Ryan's going to be a very solid speaker -- he's going to be very charming.
There Romney we know that's what we're getting when he comes up and around Obama on the other hand has been built up into.
Something I'm not sure he could -- lived up to last night but he's partly to blame for that he's been complicit in building the dream.
What's something that we we know about running for -- we've -- before the reason politicians generally.
Pulled back on promises currently running for president pull back on promises is that they're thinking ahead to the next election.
Do you suppose that the reason that Obama finds himself in the pickle now that he is is that perhaps when he started running for president.
He didn't really think he was gonna get there.
I'm serious he would how improbable first term senator from Illinois young guy.
You I mean his middle name was Hussein all the things that -- now turns into a joke like.
You can do you think it's possible that he just went so audacious because he was like I'm gonna make this run and it's gonna -- me -- and I'm gonna go all end all winner from it.
The -- -- -- Bryant and if I mess and Hillary Clinton does get the nomination and lose to John McCain.
I guess at the time they thought it was Rudy Giuliani -- -- -- set up for the next time.
I think there's some of that and I also think that -- supremely confident person and he's confident in.
His mere presence changing things I think that's what that is part of what he -- when he came to Washington that I will be there and therefore things will be different.
I will give a speech and therefore things will be different and it.
It turned out to take a lot more sort of Rangel playing and legislative elbowing an act has -- that he's not so great -- And it seems really was harder than he thought it would be now he says -- never said it was easy they really kind of -- But -- I mean I think that's -- that's that this week and a microcosm of the Obama.
Problem which is he did set high expectations.
He did make everyone think everything was going to be better.
And now he's asking pulled don't judge me on those promises judge me on like it could have been worse which is good.
It is not uplifting and that's that's the issue that he runs into.
For president you see that vote for Mitt Romney you say they survived last week.
Know her game has no well several people in the flooding but for the political world that they're they're they -- lost that day of their convention.
-- -- -- Recommending that no nobody didn't nobody did not that we don't love every second.
But nobody did that anything really terrible threat there was no big -- it was there was a solid.
And you know I like to think of these conventions -- PowerPoint presentations.
Of course every day for the party say and you CN slide believe that this and we like when men and then -- and then -- And nobody did anything stupid -- stupid I don't think it in Tampa.
In Charlotte it looked kind of Dicey.
Two days ago there were some moments with the convention floor fight that looked so like how did you how did you possibly -- How did you let this happen they had some tricky spots but it everybody did what they were supposed to do Michelle Obama.
Did you and Joseph Biden fantastic and and Barack and Barack Obama did so that is so they get out here attack right.
I think intact at the difference between that -- there were.
You know I think on the floor of the convention these days there's always some.
Undemocratic bet that it's taken every bit the majority -- sort of shut out.
The Republican Convention had to -- the rules changed nobody cared about it except for activists who cared about it a whole whole lot the point being that their fight.
I think has legs for normal people they'll see that video -- -- The heck is that it reveals a division in the party and a moving in the last I think a lot of people don't see in PowerPoint presentation says that.
That I think has all of a -- legs but probably not a big deal I and the interesting -- to -- is that we may be seeing the first.
First conventions and a long while where there is -- -- because there's so few people to be convinced and maybe you legislate.
But when it make nice production moving on to the next sixty days we -- yeah.
-- PowerPoint but we really just which isn't always saying I -- like campaigns traditionally have counted on that you know at least that it doesn't it fades maybe that it makes a -- -- -- -- -- -- Like it's like the caffeine that we've been living on two weeks -- yes.
Americans have you go home I have to get some sleep and I I know you foolishly scheduled.
A endurance run I have work tomorrow morning and I think you know what I think that's great I think and a -- As I am asleep tomorrow as I wake up tomorrow I'll say at least I'm not make out you have -- -- Running through now that's not what I think it'll all be shot and try to.
We thank you so much for being -- as my friend okay we're gonna take a quick break and when we come back we're gonna listen to some of the voters.
Here in North Carolina -- stick around.
Obama is going to be given a big speech.
And -- got a lot of speaking lots of words.
Let me quote present Obama for years ago.
If you don't have a record to run -- and you've -- your opponent as someone people should run from.
Ladies and gentlemen.
That is exactly what Barack Obama is doing today.
That was congressman Paul Ryan the Republican party's nominee for vice president.
Trying to bracket as they say in politics president Obama's big speech last night here in Charlotte in this power play welcome back.
-- wrapping up our time here in Charlotte we've had a blast it's been great we're a little tired but we had fun.
And we really have to appreciate you being with us we talked about how Twitter was shaping the election as we talked all sorts of famous people we get a lot of fun stuff we had a great time in Tampa.
-- something we want to do here is something that we want that we got to do in Tampa for you and we want you to hear from why regular people.
Regular voters here in this swing state are talking about and what we wanted to know from that.
And this is what's really important.
For all the campaign ads and think about this both conventions were held in swing states this year where folks are being inundated as you saw on the previous segment with -- Ads from both of these campaigns so while they're having their PowerPoint presentation pageant in these conventions outside the real battles being fought in these counties.
So here we are Mecklenburg -- North Carolina in a swing swing county in a swing state what are people talking about so let's let's.
We're not hearing a lot of the answers on the economy.
And the F kind of a bit stressful -- -- to -- -- And you feel like since they're not answering the questions -- you want to hear about it.
For the most part there's a lot of name calling and -- Not a lot of real -- information stuff.
I try to tackle weight and my husband likes it -- -- Do you think that it's so bad that you might not voter behavior.
No I'm definitely vote but I'm gonna wait until -- A little bit closer and the end of the race to really tune in because a lot of the details should be hashed out by then.
They're going to.
Well Republicans should be talking more about Afghanistan.
I'm not hearing anything about that among other than that I'm very very happy with.
-- dialogue there.
It just awful.
-- They don't have an answer to anything you know him agenda -- haven't completed a budget.
And Obama just lies.
That's my and I think the main thing there that is not being talked about is our immigration problem.
What does it.
Are open borders.
I think open borders are big problem.
I think that is being.
What's the correct terminology may -- reported on both sides.
Our monetary situation.
Not being talked about really by either side.
As far ahead of the party that has the best handle moment right now would be the Republican Party no doubt about it.
You sound like maybe you're not that's always that way -- they like their.
I am truly conservative I'm not necessarily a Republican a lot of cases.
And -- they like spending money as much as the Democrats.
Absolutely that is the problem it is not their money it if someone else's.
And they need they need to understand that offers to like -- -- What they can do.
Improve the economy that would -- tethered down.
What we do do.
And that's not -- -- they have worked pack ahead they have won and I do.
-- -- -- -- -- -- -- -- I hear Romney say that things won't change the dollars and fifty -- and hope.
What about those that are 5450.
What are the plans for us here.
What are we gonna dude you make sure that we don't go broke.
-- like lots of unemployment.
And there are a lot of unemployed people of color you know and I don't know if we could fix it but.
You know there's a lot of crime in areas that are -- port and then there's a lot of filings and here is a force so.
What can we do to fix that because it's kinda scared when you live in an area where.
You have to travel a long way just to get a job because there's no jobs in your neighborhood.
Yes travel from place to place.
And it's the same story and he looked promising things and nobody delivering anything.
The biggest issue.
-- should be working on now and that the company known as you must spend less.
Kelly and his country and also vision of love life both on and on long.
Babies in the -- and none of us won't and I didn't feel like that.
A natural -- Tom from.
The momentum of -- -- content on -- natural event.
And that was us listening to the voters here in Mecklenburg -- in North Carolina talking to folks.
Here in the swing -- in the swing state and message coming through.
It looked tired of the attacks you could hear it resonating with each other they're tired they're tired of attacks they want substance but the problem is this.
How do you make them -- That's the real challenge.
And -- be the test for Mitt Romney and Barack Obama over the next sixty days as we're here at this inflection point in the election.
Let's get to some of what you have to say a lot of -- in here from a lot of folks about their unemployment rate -- eight point 1% unemployment rate.
And it's like this.
How does employment rate go down if the number of jobs.
Didn't go up enough.
Sounds complicated that's really pretty simple what the unemployment rate that top line unemployment rate that gets discussed every time every month.
All that measures is the percentage of people who -- actively looking for work.
That are unemployed it doesn't count all those people who have given up looking for work.
And that percentage.
When you include people who are -- under employed which means they have part time work but really want full time work.
And you put all of -- who have given up looking.
You're looking at almost 50% you're looking at right around 50% that's that 23 million number that Republicans talk about all the time.
That's the one.
Then there's one bigger number that's 88 million there's some 88 million people who are adults who are able bodied -- -- at the working age eighteen to 65.
And are not employed.
That's the number that the Republicans are counting on to carry them over.
OK we got to go.
And we've had a great time this week we love -- Internet we do we do we'll see you back on Monday in Washington Juliette Heidi is up next.
And now for the last time from Charlotte, North Carolina as we'd like to do every day we want to leave you with the word from our friend Charles.
There was nothing there now I'm I'm simply amazed -- even -- right.
This is a guy who's the -- student in the class who turns into a paper that's clearly -- -- And the teachers astonished and says how could you do this why did you Mayo event and that's that I felt the Biden's speech.
Was infinitely better because it was and I think anything he carried that message.
But the Obama speech I thought was flat.
And had no content and it.
Charles there's -- it be otherwise otherwise I love it really.
Filter by section