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How Obama's re-election impacts the economy

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    What does another 4 years mean for your wallet?

  • Duration 3:42
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-- mainly despite nearly 8% unemployment and sixteen trillion dollars in debt President Obama has been reelected.

So what will four more years of his policies mean for the economy and specifically for your wallet Cheryl Casone joins us now from Fox Business Network to discuss some of these issues hi Cheryl good morning -- -- this little -- a big one right -- -- fiscal -- is the most immediate problem.

That we have and the president will play a key role in this he's still standing by wanted to tax those making 250000 dollars.

And more a year that's gonna be an issue Republicans are not gonna want that also if you look at the overall fiscal -- I mean it's costing -- -- 3500 dollars per household.

We're talking more than 500 billion dollars.

This is going to be a rough patch for the economy especially if a lot of those cuts.

Command that's going to be a problem in the stock market obviously not optimistic.

Like we lost.

Lot of we adding that lost that ground the Dow yesterday with -- below thirteen thousand for the first time since the month of June and look you know 12100930 to me look we actually.

Only lost 312 when we're down 369 at one point yesterday investors are worried OK health insurance stocks veins which is talking about that that's -- -- -- -- -- costs for -- cost controls were not put into the health care a lot that's another it's never going to be dealing with as well.

There's a lot of positive news that we'll -- that's.

Mortgage rates.

Are gonna stay well how we believe the Ben Bernanke will be in office at least -- me -- go to the rest of his term if he wants to stick with the president would keep him.

That means that mortgage rates up quality will be used if say -- -- 3.3 6% right now for mortgage rates how -- -- -- positive one that's getting women have jobs picture the jobs picture we expect unemployment to remain incredibly high there's a few reasons for this many businesses a lot of CES come on the business network and they tell us.

I don't want to hire I'm not comfortable hiring one problem is health care it's gonna cost -- order to ensure.

Each employee a number two.

Regulation President Obama is known as a regulation nation type of precedent he really believes -- more regulation is better.

Whether it's for coal companies through the EPA whether it is for oil energy companies you name it.

And regulation is a cost to business and it also think about Dodd-Frank.

Mitt Romney wanted -- repeal Dodd-Frank President Obama wants to keep Dodd-Frank that means that banks financial services companies are gonna have more paperwork to go through.

We saw one of the biggest sectors that we saw lose ground yesterday in the markets.

Financials yeah so the small businesses obviously impacted.

Small businesses are really gonna have a rough time in the next four years not some -- even the president will come out and say.

In a stump speech whatever about you -- -- X amount of -- tax breaks for small businesses the truth this small businesses are gonna bear the worst brunt of this a big piece of that -- and is taxes because met most small businesses file as LLC is that means they file.

A personal income tax return blood their individual well they're getting taxed those higher rates of business bringing into -- -- 50000 dollars or more income.

Pretty easy today as a very very concerned they're not hiring -- -- demand out there very highly quantitative easing our Hugh 83 I noted that your guys -- a -- here that I I get it.

QE3 is is this is the -- buying forty billion per month in mortgage backed securities what they're doing is they're trying to keep the economy going.

Keep liquidity into the market -- -- keep money flowing into the market get banks to lend more consumers to borrow -- Problem is many.

In the GOP in particular are worried that that's gonna cause inflation -- a big concern.

For many on Wall Street and it should be concerned for all of us at home because that means your prices.

-- gonna go up right all right a lot Barrichello -- Fox Business Network thank you and you can catch Cheryl at noon on the Fox Business Network.

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