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Losing the exclusive group whose salaries can't be touched what you guessed it President Obama and congress yes the very people got us into the sequester mess in the first place are still being paid a negative full salary for retreated chairman and editor in chief Steve Forbes joins sexiest -- Good to be with you Greta thank you.
What an irony the very people who didn't do their jobs who got isn't the sequester mess could try to scare us into a shot down half trade towers or whatever they're the very ones admit -- Totally protected there and then not know -- I don't -- the problems that right.
That's right this whole sequestration came about because the debt ceiling crisis in 2011.
And that there's like a nuclear bomb we're not gonna default on my -- and shut the whole government down.
What should be done Greta talking about salaries is to -- salaries to doing something and that is.
Have the -- government spending tied to the state of the economy you know -- traditionally we've spent about 1820% of GDP in government spending.
So have a figure like eighteen or 19%.
And if it goes above that.
Then congress' pay is docked and the president's pay is docked and since he has so many perks perhaps a few rounds on the golf course.
But have real consequences.
We don't hold up your responsibilities we do and everywhere every other sphere of life.
Yes amazing though is that we have to put the -- draconian real consequences release we want to over their heads the front for one simple reason because they don't do their jobs.
And I need think that they would -- -- just herself a sense of decency -- no room morality minute promised the voters say do this right now.
That island practically gonna -- -- over my left -- the capitalist toll -- they're all gone then they haven't done that and I haven't.
They're not worried about the sequestration.
Now and unfortunately they've engaged in the old to attract -- -- Washington monument trek.
Make sure that the cuts are very visible make sure they -- and anger in the public and in this case perhaps jeopardize the safety of the public with a what they're doing that -- FAA.
And this is irresponsible fortune I think people realize the president is playing with fire here this popularity is gone down.
Right make up for congress know that their own -- purse was going to be effective personal -- can be affected by that kind of behavior.
They would did -- wouldn't engage in it.
And again we can't have these nuclear options like -- not.
Servicing our debt but it ties to west something like -- GDP as but -- -- a percentage of GDP are spending as a percentage GDP.
Where if they don't meet those goals that makes -- start to take a hit with the real penalties where they feel the penalties not we the public.
I don't -- -- business question.
There are so many indicators we look at to see sort of the state of the business whether it's unemployment or consumer confidence or foreclosures are less certain thing but what the practical sort of business.
Bill -- -- economy doing -- -- people say that they don't even know where to put money they're afraid even save money they're afraid I would love some that I happened Cyprus.
Everyone is scared.
What's sustaining economy from business standpoint.
-- the state of the economy overall is better than it was a year ago but that's like -- car on the open highway we should at this point big on 7080 miles an hour don't look and and instead we're gonna go from twenty miles an hour to 35 or thirty.
So we're going a little faster but it's still a -- recovery this is the first recovering history Greta we haven't had a sharp upturn after a sharp downturn.
So yes there's more activity but -- catch -- activity not the kind of animal spirits than you normally get and vibrant economy that -- usually is if if the politicians let it.
I I hear a lot of our regulations people say the regulations are strangling business slowing it down with tardy and growth.
And I hear stories about how are from people that Obama care is also -- have an -- in fact once that goes into effect.
Do you agree that is -- -- -- to direct hard expansion or not affect expansion -- re going to have expansion.
Well get some expansion bus like a baseball player hitting 250 don't come on up from 200 or not players quite capable of hitting a batting average of 350.
So what we have here is a sub par performance you mentioned obamacare we don't even know.
But Obama care thousands of dollars you make that kind of liability.
The most ridiculous thing on nine Greta.
-- the companies that are growing.
And number of them thankfully our.
If they reach that the fifty employment level fifty people.
They're gonna have a huge increase in cost so you're gonna have to ramp down the growth of -- business that could not get hit by huge new increases of cost of Obama care.
That is just -- -- kind of thing you get in Europe not here in the United States.
I knew the people the businesses are hiring people to try to figure even a hot new up by how to baton how to even handle obamacare than their businesses.
And that it's -- -- there's so many regulations so complicated it's a whole another layer of -- Of complexity business do you have that issue.
Yes you -- now have to have keep in meticulous records of how many hours people work.
Even if you don't have reached -- threshold you gotta be able to show regulators.
That you haven't reached a threshold what's the difference between full time employment part time employment.
So compliance costs are going up and because people don't really know the rules are these exchanges for example -- joke.
Most them are not going to be ready by the end of the year by the fall of this year and so -- and certainly just slows things down this economy and roar like a rocket.
The people knew what the rules were in the roles weren't designed to slow us down.
-- people are ready to move but they can't it's like being in the quagmire like a bad nightmare you want to move but you can't get your foot movement.
Sanchez guys thank you know I've seen other -- it -- thank you -- -- appreciate it.
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