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I have good news -- and try to do this is a straight face.
The president has saved the economy.
And happy days are here again.
The unemployment rate dropped to 10%.
That is -- point 2%.
The president was giddy about the news today he was in Pennsylvania -- is talking about it.
So overall this is the best jobs report that we've seen since 2000 -- And this good news just in time for the season the ball.
I've got a -- by my chief economist Christy Romer she got about four hugs.
When she handed us the report.
-- I don't -- -- -- plateau in 2007 was 10% I think.
Maybe it's just me I.
But if you -- -- give -- around reveal what good is we've only lost 111000.
Right -- you don't live as wonderful.
Maybe we should set our expectations a little higher.
Press excitedly reported on the unexpected gains and how they sparked optimism.
Gold plummeted over sixty dollars an -- today it's people like -- who needs that let's get -- -- market the market was up 22 points happy days are here again.
The president immediately went into taking credit mode and -- don't forget I'm the guy only lost 111000 jobs last month.
He said the -- as stimulus saved or here it is that magic formula again or created a million jobs.
Steve or created.
Where have we heard this before.
Yes that's right in July when unemployment unexpectedly.
Drop from nine point 52%.
29 point four and Press Secretary Gibbs said it's a sign.
It's a -- I was reading leaves this weekend a sign the economy is pulled back from the brink.
And the pace of job loss declining.
And I'm no mathematician but I believe.
Nine point four is a smaller number than ten.
What happened there.
Yes unemployment shot back up again.
That's why the president is now working on a jobs summit trying to solve the crisis to avoid a re -- All of the job experts were there all of them I couldn't think of anybody else I would have there I mean who else would you want you got the unions.
They create a lot of jobs SCI it was there you got -- bunch of progressives there you got your.
In the New York Times columnist Paul Krug man.
John let's just wait for those jobs is to roll off the line.
Of course off the list of the hate mongers from the US chamber of commerce why that -- guys.
The National Federation of Independent Businesses and the National Association of Manufacturers.
Prove that when we let them them.
That's just to name a few.
This guest list makes perfect sense when you look at who the number one creator of jobs is currently in the United States.
The federal government number two just in case your interest it is health care.
That's weird health care.
As in the government trying to gobble that up oh no wait a minute they're going to be able to create them because health care workers that's right are represented.
By SC IU.
Isn't that convenient.
-- -- -- turn to real creators of jobs small businesses the ones with less than a hundred employees that create seventy to 80% of all jobs in America.
Does the White House want to listen to them at all -- hole.
-- And must be -- somebody and I don't know who they hate those small business people must hate someone.
Kevin Williamson is here he's -- deputy managing editor of Nash.
And then I'm -- looking at this list over here on the job summit and who he can we not take a picture of me from the side because this thing is becoming.
I mean I look like job of the seriously.
A -- the jobs summit right here.
We have John Podesta right -- that.
And then we have Leo Gerard he's from the united steelworkers right -- -- a lot of jobs and do entries -- known.
-- you've -- the steel industries not doing well in America I've I've heard there's some trouble there miss them I'm breaking news he's put that on the bottom of within alert.
They're connected to the Apollo project yes there the Apollo project and they write the stimulus package whose that would be the very one yes indeed.
And in New York isn't the Apollo project the one that is headed by Jeff -- Yeah.
And Jeff tells you is he started another institution what was that.
Weather Underground yet not yet know.
Okay good so we have Jeff Jones.
And isn't the Apollo project which is these two guys are connected to I -- they sit on there either of -- other board members of that they're instrumental in the Apollo project.
That's also Van Jones.
Are -- the Communist yes yes OK the Apollo alliance a -- So we have Ben Jones and doesn't -- now work with John -- small world isn't it is weird -- then you have Andy Stern.
And what's your name burger.
For SC idea over and connected to acorn.
And then the American Federation of Teachers right now he's seen the new stuff rolling off the line in the with the teacher's union -- there.
True productive yeah plus.
Stuff that teachers are creating right now is some off the charts their number one export then you have Google.
Which I mean Google does a lot of great stuff they're doing some stuff but.
But I did make 25000 dollars in campaign donations to the inauguration so that's that's worth something.
And and Paul Klugman who I think his big.
Contribution to jobs is that they're now crediting him with -- Calling the housing crisis a problem which I believe I could be mistaken here Paul but I believe I was talking about that coming before.
You -- well it's your poker and hasn't created a lot of jobs but here he does have some insurance.
Don't even know what that means now I'm afraid -- I'm not gonna go there.
I'm not gonna go that this is a wrecking ball you just -- Absolutely disaster it's an entirely.
Collection of people I mean even the businesses that represented there are not the sorts of business if they're going to be creating sort through jobs in the future.
You've got a lot of big old line companies like FedEx and AT&T.
And oh gosh Boeing and.
Question -- -- was there anybody was there anybody at the table yesterday.
That understands the small businessman.
We'll now I think they intentionally excluded and they didn't want the National Federation of Independent Businesses there they brought in a couple of small business owners must it mean there were Obama campaign donors.
But there's really not a -- the government can do to encourage small business other then cut taxes and -- talk about cutting taxes are not gonna talk about.
Liberalizing regulation and regulatory reform not gonna talk about tort reform or anything else you're getting the -- -- the people's backs.
It -- -- -- it -- worse so why Richard it's small business people wanted to talk about their problems when Obama doesn't want to solve their problems the last thing is again.
They talked about actually spending the rest of the money that's in TARP which I don't know if they know this that's all borrowed money.
And yet this is the most insane idea to come out of this is to take money that -- he's -- -- Harper's statement there has been spent for TARP and has been repaid by the banks.
And then spin on these ridiculous jobs programs.
I mean that's a good way to take money that you limped out and got paid back and -- distended so you take money -- was auto loan.
And you get rid of forever it's a permanent loss I mean we actually recouped some of our TARP money I mean against everyone's expectations now we -- have.
No we held -- in that not only -- Don't to buy into that that's a game but the thing that happened this week would AIG -- -- sold those businesses to the Fed.
Well yeah that's -- -- -- institutions did phenomenally pay -- their -- -- obligations you know -- are some new ones did.
And that's about it it's not -- -- idea but it's at least it's back on the federal looked at least it's not out there having to be you know re collected the once you've spent a few chances of getting paid back and zero right.
I that I I -- you know what.
Or was that I was standing in somebody's office today and we were talking about something and I.
It was something like hey you better grab a hat it's cold outside nice and only three hats -- -- -- world and have three -- soon.
And everybody looked at me -- What and a and it's in today's world we could all just everywhere watched her on TV and -- be the only one without three heads and he'd be like.
What happened and what I mean it's an insane at world we're living in right now -- -- and we're gonna.
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