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Colmes: We Need More Stimulus

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    FOX News Radio’s Alan Colmes discusses why government spending is the key to economic growth.

  • Duration 7:51
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This transcript is automatically generated

This is all about Europe it's about jobs it's about unemployment is about maybe a recession.

Is the number we -- minute nine point 1% unemployment back -- the rates that was announced about ninety minutes ago.

The economy -- well basically that remains pretty stagnant I'm saying that President Obama can't do much about it if anything.

What do you say Monica Crowley.

Well you know what there's been a lot of talk this morning when this number came out -- nine point one while we're going in the right direction we went from nine point two to nine point one but how horrifying is that Stewart that this is now the new normal.

That nine point 1% unemployment is considered relatively good news.

Keep in mind that would we had to -- -- recovery Stuart.

We had GDP growth rates between seven and 9%.

OK every quarter we also had new job creation.

At the level of 300 to 500000.

New jobs -- months.

-- a month we are nowhere near either of those those markers in this so called recovery.

And now it looks like we could be headed to a double that I think the price of gold going -- just -- some pause.

Lives here I mean the idea we're talking -- cover the New York Times this morning saying a double dip recession possible.

Are those fears now eased a little bit because we've seen these numbers the numbers it scared me though.

In -- of people who have been unemployed for six months or longer those numbers coming up this morning from the Wall Street Journal.

And you look at those people six months or longer unemployed six million Americans who can't find work and who are actively looking for work let me add one more number are in -- I hate numbers but this is a good one.

200000.

People dropped 193000.

People to be precise dropped out all the lay before us a 193.

Out.

Now that's has a difference to the unemployment rates.

That's exactly right and that's why we're seeing the rate.

Technically come down over the last month because so many people are dropping out of the labor force actually right now only 58%.

Of working age Americans have jobs the labor participation rate.

It's now the lowest that it's been since January 1984.

Cannot is horrifying let's bring in Alan come.

Which I would look let me and is an -- us -- -- had to -- the introduction properly.

According to the liberal left the Tea Party that Tea Party is now to blame for the economic crisis in America.

New -- times columnist Maureen Dowd calls Tea Party people.

-- about bonds and some days and that's Africa Vice President Biden and some other cable news anchors on other channels keep referring to the movement as a movement of terrorists like that thing that I haven't introduced -- If Fox News radio and stuff out on the coast of Australia now what is it.

-- It is my position.

You -- -- -- a certain President Obama is boxed into a policy -- and his policies to get the economy moving half thank you.

What he's there's not much that He can do now he's not gonna get a big news stimulus program through congress if not that's not going to happen so what does He do.

He lashes out and -- self only opposition.

And that's what you're about to do as well is it not mr.

comes.

We don't need me you know and I'm editor of we'll go -- Well we really gonna attack a launch.

What did we just fine thank you for that wonderful introduction I'm telling people what I was gonna say but then we find out just a week ago that the the dip.

That that the -- was much bigger than we thought it was that the of the bush recession was much force and we thought it was and that the whole we had a unanimous much deeper than we thought it was.

How much and you have every -- -- -- let me let me -- that one for -- that the biggest addict.

The shock but the coming out of the title should argue that's exactly Ronald Reagan that He is innocent though how much can -- president do.

Really what kind of president do all -- really didn't CBO if you don't get out the way that the CB gecko.

That the stimulus did work -- -- created one million to one point five million jobs.

I mean.

You wanted to say it didn't work -- -- Paul Krugman on this finding agreement on everything we should have had a bigger stimulus we need to pump more money in the economy we works progress on the back.

Is your position outcomes I would now like another big yes stimulus plan -- -- at least a trillion dollars.

Yes I will be an infrastructure I -- -- -- oil infrastructure already start.

You put shot already started becoming big -- -- but we need to put people to work.

We need and the way to do it is know the governments when they only instruments that can -- money -- -- the if it's contest that will but look you want another trillion dollar us borrowed by the federal government if you make it back.

It because you may unlike going to war like bush did that's money that you actually make you know that's not gonna happen the house would never goes anywhere that's wild volatility what does He could do with a bunch of blue dog Democrat and and and Republicans who would not let.

Get it it Monica I'll mail you yes it's amazing that the leftists arguing for more spending we are we are in the middle of a catastrophic.

Debt crises and a government does not create jobs to private sector creates jobs and prosperity book we have had over the last three years.

Is this administration and Democrats in congress have spent just into a keynesian coma -- now know that's the experiments does not work.

We have had a massive expansion of government.

Record breaking deficits and debt unprecedented spending and socialize medicine that's why gonna happen to -- This economy got hasn't taken over at that other thing that's out there just as the Islam is 12.

Looking for a big jobs program big jobs on the Italian looking -- from President Obama.

Now if you'll have to settle for a new plan.

That he's -- -- -- about one hour from now it's called the returning heroes tax credit to announce that they want now yes.

What is gonna do is awful company's 2400 bucks worth of tax credits for hiring a vet who's gonna unemployed for short period of time.

And 4800 box with the tax credit if you you -- a long Tom unemployed veteran.

The president says he's hoping to get a 100000.

People client because of this -- this program.

That's the program being offered by the president in about 52 minutes by doing what He had guns that are what does not amount to a whole -- -- -- and stuff well I don't know he's right on why don't you in the photo -- this up.

If looking for right -- to do that but the president that's exactly what he's doing when it doesn't it women so that the president who really doesn't love America.

Here is going again I'd like to go wrapping himself in the flag up to something selectors I didn't say out there the next he's gonna where reflect any degree upper for that today after a panic.

Crash of virtual crash the president goes out and out that -- hungry and don't want more unemployment benefits food rectum for veterans and the that's why he's wrapping himself and enough -- yield of a new people and I say that -- what -- -- tax credit do is look like there is one other thing which the president wants.

Yeah -- was to streamline the patent processing business then now that's gonna make a difference in it and you know of -- eleven.

I think the president does I mean that -- K so that's not the only thing he's doing let's -- let's final little minute things knowingly streamlining that patent processing.

System you may have let going -- let's just met but we're picking one at a many things that He believes that who -- -- -- -- -- -- What I don't was hammered yesterday He was never did it have in the network that but will during the presidency was hammered by Jake Tapper -- is Jay -- was hammered by Jake -- asking -- specifics -- -- laughed it off but this is.

Deals with the heart of the issue here in Charles Krauthammer last night laying out.

But the president has already done a lot of these things that the payroll tax we have the we have -- with the trade policies yeah there's.

Very little left on his Clara board it's and I and I respondent to something -- -- which was going on about how we need to get out of the way we got a real.

We we were told in the Bush Administration we just yet lower taxes we'll get all these jobs of the -- -- still working on with the political economy if we get added a couple of job creation and -- Yeah after your advice yet what -- I don't agree given the time front.

I'm in men and let me just correct yeah Accra after both waves of the bush tax cuts we had 53 consecutive months of job creation and economic growth and I would expect they really pale in comparison to what Bill Clinton on unemployment under President Bush I was excellent -- 5%.

I'd like to keep it.

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