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Political impact of disappointing economic news

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    Jobless rate inches up in January, GDP shrinks in last quarter of 2012

  • Duration 5:24
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This transcript is automatically generated

It's.

Disappointing economic numbers coming out this week first stop was the GDP showing.

The economy actually shrank in the last quarter of 2012 then -- of course the jobs report on Friday.

The nation's unemployment rate there it is for January in -- up.

Now it's seven point 9% what's the political impact.

Let's bring them back and probably a package out -- -- -- guys we just got a clip of the president he's usual.

Pre Super Bowl interview.

Take a listen.

Overall there were a lot of positive signs in the economy the big problem was defense spending was cut 22% there's bigger drop than.

In forty years and it was very abrupt and it had to do was.

You know folks being worried about the possible impacts of the fiscal cliff and what goes on here in Washington -- what I've said repeatedly is.

You -- Washington cannot compete continually.

Operate under.

A cloud of crisis.

That freezes up consumers it gets businesses worried.

We we can't afford these self inflicted wounds.

We can't deal with crisis is that what Washington's all -- it's what Washington is all about but it's it's something even more.

-- he's the president.

He is the personification.

Of what Washington is what he's doing there are saying.

The problems in the economy which are still clear we're not out of the woods by any means our.

The responsibility of somebody other than himself presumably congress but bottom line he didn't resolve the issues with the fiscal cliff was sequestration.

We haven't heard anything from the president about that and now he's out there in the opposite.

And John the first thing that this interview was done today but on Wednesday when these numbers came out the White House spokesman Jay Carney first thing he said was.

House Republicans.

Caused those they love blaming others and as Doug said he's the personification.

Of the US government.

Why for the last year and a half has he not been able to take his own budget deal the Simpson Bowles commission.

And sell it to the American Israel doesn't support stops and I want to -- are right Jimmy Carter had -- -- his -- the originals on Harry Truman and the buck stops here right.

This is the anti box tops your credit entering into small -- among the crowds everywhere we meet in the say the win went into action looting GDP went from two point 1% growth would probably not snake it was negative point don't want to say.

Then it's because of one month of defense spending cuts by the way.

He's been the person advocating or saying it got total nonsense I would say it's volatile nonsense it's totally ludicrous to crack.

It it is but Obama white he gets away with the mainstream media.

Most of the networks AB CNBC the even cover the -- -- we have on of one we're going to look.

They're in the -- to -- all the underlying things are great market.

Something's wrong here and he's the president.

And to continue to blame it on everybody Owens is announced that he is doing what is that the Republican Party and John yeah using this.

Has no credible alternative narrative no argument and Americana it's gonna do a speech -- -- this week to allow.

Outline another vision the bottom line the Republicans have -- answer to what pat was talking about Manhattan -- From two years -- this it's the same as we talked about the first segment on foreign policy there is no voice that speaks to the mainstream of America -- on these two issues you know why if the Republicans seized Simpson Bowles and sold it.

Right that they will will be very popular big country's -- rule Ryan who sat on the -- Simpson -- vote in favor looks Greg let me take something you don't want to improve.

-- -- Washington doesn't care about the economy they are rich -- the rolling in money the president even mention its inaugural.

They want to talk about its what are we dealing with immigration which is a longer term issue.

Guns but we're not dealing with still -- fundamental problem of an economy with millions of people who can't keep jobs yeah.

Talked -- -- this country is jobs in the economy.

Neither side is -- about how to revitalize the economy create jobs promote economic growth.

There's no comprehensive fiscal plan tax plan or budget bottom line it's a broken system.

In an all interested in partisan division debate in what little advantage I can get today led by a president who ought to -- -- Lincoln again in front it.

You're out what it's about -- I'm I'm sensing a little frustration here for -- -- -- is a little Butler you know right because the system only works if the players in the system are honest in the way they plan.

They're supposed to represented the people that sent them there.

They don't give a hoot about them they don't care.

There -- happy in general -- -- stream media pretty much sucks up to what we haven't seen anything serious critique.

Of the season against him tough questions Scott Kelly -- more hours -- -- off last week on sixty minutes did they ask you have a tough question in here and soft balls at issue.

So there are supposed Doug -- -- package ultimately eight.

-- -- -- -- -- -- -- -- -- -- -- -- -- 10:30 AM eastern live dot foxnews.com.

They'll be accurate of course next Sunday you can also follow him on Twitter at -- end -- --

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