Goolsbee: 'How can you say that's not a turn around?'
Former Obama economic adviser weighs in
- Duration 7:03
- Date Oct 19, 2012
Former Obama economic adviser weighs in
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Governor Mitt Romney received another boost from an unlikely source yesterday President Bill Clinton now few weeks ago the former commander in chief -- -- stir with folks in the Obama camp when he said.
That he believes Romney was indeed qualified to be the president of the United States -- yesterday did it again when he said that's.
Governor Romney's argument it.
-- not fixed so far haven't put me -- It is true we're not fixed.
And -- -- RNC is using Clinton's own words against Obama.
Governor -- started we're not fixed so far could read it's I was in his shoes argument in the same hard.
This is true you know things we know we're not there yet we're not where we want to be too many of our friends.
They're still up there looking for work I don't think anybody would say -- will.
One -- the deficits are still -- They shouldn't just there's still a lot of people who come.
A lot of people is over -- We know it's not good enough.
After more than.
Politics more than one present if I don't have this done and -- years.
Then there's going to be a one term proposition.
And joining me -- to try to defend the president's failed policies former chairman of the council of economic advisors professor at the University of Chicago Austan Goolsbee is with us.
-- turn -- around three -- is going to be a one term proposition.
And he also said this about cutting -- -- promise in 2008 he cut the deficit in half sweater set.
Today -- pledging to cut the deficit we inherited by half.
By the end of my first term in office.
Now we know that he also said George Bush four trillion in eight years was irresponsible and unpatriotic borrowing in the name our kids from it China on a credit card.
So he failed to fulfill this promise can you at least acknowledge that.
Let let's start -- that first one about whether we turned it around it and it's going a different direction I mean if we were losing 800000 jobs a month it was getting bigger and bigger every month.
-- until the president gave me -- it started getting smaller loss smaller loss.
Now we've had zone almost two and a half three years of private sector job growth.
How can -- say that's often -- turnaround.
We are on track this year to have smaller growth then last year.
Last year had smaller out of I get.
Smaller growth in 2010 and 2010 was the year of recovery summer Joseph Biden -- 500000.
New jobs a month.
None of these promises have been fulfilled and on top of it.
Not only did not cut the deficit in half.
Six trillion in debt 25 million on an under employed one in six and poverty seventeen million more Americans on food stamps.
49 million Americans in total and half the kids -- get a job when they get out of school is that success.
Yes John I hear you -- that I think it's true I I think it's odd that the RNC would.
Take what has -- ended public statements of the administration that we know we're not all the way there yet.
That it but you just keep repeating.
Then look at conditions are not all the way back to where they got all the way back especially when going to the airport improvement John -- been substantial improvement -- presumably they had -- -- to women dating back to the middle of the -- that a labor and participation.
With the same as when this guy took office unemployment would be 11% if you count the 70.
The labor participation.
Rate of men in this country has fallen.
During each of the last seven presidents because that is what happens when your -- really think this is -- Austin you are too Smart a guy.
I ever really believed it.
I think you're wrong year that your big registration that the redistribution while.
You cannot define this is -- do you really.
Believe this isn't satisfied and had success I said we are read cover ring recovering from being fully -- -- finally get those -- three years it's a one term proposition eight get it done yes.
-- fewer Americans were ahead.
He had to turn this around in three -- at least right recommended that that you quote he predicted it early -- would I don't know I have a -- that we exactly the point.
It went passed the stimulus unemployment now would be five point 4%.
You know we don't know -- where we've had came the president -- that wasn't anybody in resident -- that prediction he cut the deficit in half in his first term.
We have six trillion.
In new -- -- -- debt that's not what we were sold Boston.
That's not hope and change that is -- that we're robbing our kids futures and he hasn't even been asked about it.
What he's been asked about it all -- -- I've never really been asked about it by you know Randy tell Bravo I got a question for you and I want you can't duck this question night.
Can no dot never ducked the questions I always give me an answer give me Obama is specific.
For the next four years because I say doesn't have one give me is -- specifics.
All I can give you a lot this facility at least some I bit if if you already given this specific overview I would say it's.
Let's do the grand bargain Graham along the lines of what do you propose that specific year would do debt ceiling.
But specific I get as specific as you want he had in his budget he's gotten two and a half trillion of cut spending cuts and saved interest.
With one trillion of new revenue we couldn't pass and I -- going to pass it now.
Well and we're gonna have to see what happens in the in the election are we gonna determine if it would -- you know.
I give me a great for the president I give a failure on the economy and a failure arm broken promises what are you get.
I would say on -- economic conditions.
How is the economy doing.
No better than -- -- obviously we've come back from war with the deepest that half -- -- -- my gut -- hit back to seeing conditions.
And all policy.
I you know I'd say Derrick deserves at least a passing and improve being -- and we're waiting to see what.
-- -- him and I in the C America -- on better eyes than we are better.
But it's good to see a highly you can -- -- a beer ads and at stake at the end of this.
I don't know I'm gonna guess target and it's got to be a good we're not a hanger steak when the president when you're by an important will say don't don't count your chickens girls that may come home to roost somebody famous in Chicago so that -- I gotta go.