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Cain: Obama's campaign favored popularity over substance

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    Businessman reacts to role of economy in election

  • Duration 5:04
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Well the economy on the forefront of voters' minds as they went to the polls yesterday.

Until last night no president since FDR had won reelection with such a high jobless rate.

Seven point 9%.

As you can see over the last three years in employment rate and -- -- -- nine point 9% peak.

But is nowhere near where it should be for a healthy.

At this point Herman Cain joins me now former Republican candidate for president and co-founder of job creators solutions.

Good morning mr.

-- good to have you with us today.

More than -- -- thank you.

Explain that why do you think voters were okay with a second term regardless of the fact that unemployment remains remains high.

The voters that their re elected President Obama look past broken promises they've looked past a stagnating economy.

And they voted for popularity.

President Obama ran -- every effective popularity campaign.

Not a campaign of substance and in an unfortunate from my perspective and the perspective of many others he won based on popularity.

And what I foresee in the coming months sooner rather than later.

Unemployment is going to go out.

The number of business closures ability to increase I've heard directly from business people who told me this and taxes are gonna go up that's what people could look for.

In a short term.

I'm very anxious and what you're saying and I and I'm wondering why you you think that is.

I wonder if some people have sort of separated the president any president in this case from from the responsibility.

Running the economy have they gotten to a point where they're disenchanted and they think you know what this is just the way it is an American now and it's not particularly anybody's fault.

Is that where we are.

I don't think so I think where we are is that we are a divided nation.

Not on political ideology the way it may have been that several decades ago.

But we have divided along class warfare would about it racially were divided.

In a whole lot of other ways in terms of small things and not the big things and so I don't think we've got to that point I just think that.

Unfortunately -- -- percent of the electorate.

Really don't look deep enough at the substance.

Of somebody's big issues and as a result we're gonna be stalled right where we are today -- -- reality.

In the numbers this morning the Dow down a 178.

Points.

Perhaps some of the sentiment that you mentioned at the top in this segment in terms of the business outlook and the reaction.

That will be had by a lot of small businesses and a lot of folks who may be thinking about expanding their companies and things along those -- right you may rethink those plans right.

You're absolutely right all Monday -- the remember the market was up.

And I think that the market was up because made -- businesses were anticipating.

A Romney win because he had momentum and the polls were showing that it was holes.

And a lot of people were predicted that rivals go to -- it well the day after the election.

A lot of businesses are contracting.

Already.

People who invested in the stock market -- expecting lower earnings because they know that what most businesses would do.

Is they have going to track to find a way to -- back and with all the the regulations and the anticipated increase in taxes.

They're not expecting to be able to expand their profits like they would if the economy was.

Women that they made likely to sort of polian.

Instead of span because they just want to make sure that you keep employees they have keep everybody covered.

And not sort of get an -- has he -- -- by the exit polls -- find them last night that during our coverage.

And I was the fact that that in the national poll who can better handle the economy.

President Obama 47.

Mitt Romney 51.

Some Mitt Romney have an advantage in that area who would better handle the federal budget deficit.

4749.

But in in some ways when you look at these numbers you might have expected that margin to be wider that was -- -- sole argument.

That he had the business experience and that he could leave the country.

To a better economy a bit but folks you know.

Didn't really didn't really give him a big stretch advantage on.

Make it exactly that it's probably the most.

The confusing.

Outcome and that is even though they felt as if the governor -- -- would have done a better job with the economy.

They still voted for President Obama because he has this quality.

Of being a popular president.

It really boils down to popularity.

He ran -- popularity campaign.

You also had an exit poll that you showed earlier where a lot of people felt as -- the country was on the wrong track but yet they voted -- President Obama anyway so it was all about popularity in the -- -- approximately.

50% of the American electorate and in the battleground states it was enough to get him over the top popularity.

Herman Cain thank you.

Good to speak with you this morning there.

-- thank you -- all right so.

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