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And welcome to FOX News Sunday panel plus with Kevin Madden Nina Easton Laura Ingram and Evan Bayh we had a vote during the break as to what we're gonna discuss -- panel plus.
Nina Easton where she works reports and hey you -- with a vote of one and the economy and that wasn't interesting developments this weekend had.
This shocking fact that the economy supposedly well.
And contracted according to these initial numbers by 110 of 1% in the fourth quarter you have two consecutive quarters like that incident technically -- recession.
On the other hand he had a 157000.
Jobs created -- Where are -- And the unemployment rate ticked up because we're not creating enough jobs for all the people that are looking for them.
I think it was just where are we were stuck in neutral I mean I once again this economy is floating sideways.
And what else happened this week was the jobs council for much -- jobs council that this president created.
Yet and that just -- and some -- commission.
That he created and didn't listen to the jobs councils actually disbanded.
And you know they had actually come up with some good ideas one of which is changing the tax code to -- more earnings.
Better sitting overseas home from corporations to change that tax -- so that companies are taxed twice.
Another idea that's been out there is.
-- -- the corporate tax code to bring the rates down to plug loopholes again.
Bringing -- it -- it it creates an impetus to get companies to invest in Americans and American jobs American factories.
None of that is happening there -- leadership on this.
Right now but I do have to say and I number I know I'm gonna drop -- nuts when I say this the Dow Jones for the first time yes.
Since 2007.
It went up over 141000.
-- and at -- there's a real look I'm going to be very busy right now in this economy because I'm gonna be starting the businesses that prints out bumper stickers that say don't blame me I voted for Romney.
That's -- -- -- -- -- don't know that Kevin was a top advisor to Mitt Romney in the camp that but what's even more disappointing is the White House reaction to this we have a job where we're gonna need jobs all over 250000.
A month if we're ever going to get unemployment back down.
And we're we -- economy it's growing at 4% and here we are with -- it was an economy that's contracting we're not creating enough jobs keep up with the labor force.
And and the White House acts like this is the new normal I think that's what's more disappointing to so many.
So many Americans that are struggling in this economy not now in fairness we do have to point out that the experts say we have hurricane sandy in the fourth quarter we had a tremendous cut.
In defense spending as part of and this isn't necessarily on a -- and it's on the whole government because of this Questar.
-- China was part of the budget control act even if Chuck Hagel doesn't.
Senator.
Chris as you pointed out the markets are near all time highs and they tend to be a forecasting mechanism looking forward looking backward and what they're telling us is that the housing market continues to -- We have a tremendous energy revolution taking place in this country which is leading to a Renaissance in the manufacturing sector.
And what really held the numbers back was a reduction in.
Government spending which should make conservatives happy and so -- taxes went up.
Spending went down.
Going for what we really need is a resolution of this continuing uncertainty involving fiscal policy in this country so that there could be a greater sense of confidence in the business community.
To hire to invest I agree me with you know we could do some things in the tax code that would have sent those sorts of things.
But we're in this.
Sort of muddle through phase right now we're taking two steps forward and one step back that's what happens after a crisis that also happens when you have to reduce the deficit before before I promise -- I'm going to get to you're gonna get your opportunity here.
But.
You've got.
Met -- Obama care you've got a lot of companies saying gee I'm not strike and higher because then of the cost of you know the next person I -- what it's going to be.
You've got this increase in taxes you've got an increase in capital gains taxes.
You don't think that that has a drag on the economy.
The ducks Chris it does obamacare is about to something other than economic growth it was about trying to cover thirty to forty million people without health insurance.
The fiscal policies this -- -- in Washington.
Is economically very -- we have to have tax reform and deal with the deficit once and for also people after they know what the rules of the road are.
Raising taxes has a depressing effect cutting spending as a depressing effect.
When you have a deficit of the magnitude that we have eventually got to pay the bills and when you start paying the bills it does have a drag effect on the economy.
The pledge finally been playing and -- -- that state pledge allegiance is not supposed to be one stagnation under got -- -- they one nation under god but the new normal is a stagnating.
Wage in this country stagnating growth or decline -- growth we have another quarter like we just had.
We're gonna officially be back in our assessment.
And when you see the president put on this emotional energy and immigration reform and the guns and a green energy that's fine that's what he believes that's his priority.
If only the president showed the same emotion the same commitment in the same resolve.
Toward long term deficit reduction debt reduction and getting business humming again and the country if they did that.
I think would be looking at a very different situation and by the way we we now say perhaps.
That however many million here people here illegally you get to stay forever we have to remember that that also has an effect on economy may be some positive effects.
But we have a lot of people who are out of work or are underemployed or part time employed.
The people looking for a lifeline to and they need some serious effort on the part of the president and his in -- -- -- a second term.
To guide that.
Situation in Washington and right now -- and not -- it -- not interested in the last words.
Just -- there's a disconnect between the stock market and how the economy is going and that's largely because the Fed is pretty -- free money low interest rates.
Where do you go to get it get a return on your value the stock market -- mean it's it's it's somewhat of an artificial high.
And and -- to come crashing down remember 2008.
The bubble can.
Can collapse again.
-- -- -- I'm not happy note thank you can't -- a reality is that what you think about the economy -- -- with us throughout the way you can look for my Monday edition of Wallace -- you can find it right here at FOX News Sunday dot com.
We'll see you back here next --
