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Got Aussie yen a bit but speaking.
Talk about Washington and what can Washington do here and now many investors look down to DC and say.
There's nothing left for them to do and that's worsen them away and joining me now is Tommy Thompson former governor of Wisconsin also former secretary.
Of health and human services.
secretary great to see you.
Is that necessarily a bad thing -- though White House and congress don't have much room to live.
At least -- at least in terms of spending.
Dig and you're absolutely correct they should not try and do anything right now.
They have done enough damage as it is when they didn't really.
Reduce the budget expenditures and pas -- A settlement that was not really what Wall Street or standard mean for the rating agencies thought was necessary they really fall mobile ball.
And there's no sense -- trying to recover right now because things are and I -- -- What the committee work and see if they can actually make the reductions which everybody knows -- to be done in order to write this economy.
We do -- the president talking about extending the payroll tax extending unemployment benefits and the like.
But if you.
In this environment if the government completely just get out of the way the economy.
Would you be comfortable if we do go back and or recession what if you're elect -- about this so what do you tell the people who elected you to that office.
Right now the worst thing is to hurry up and and do some -- is gonna make things worse.
We don't have to go into a recession but doing something that's not gonna work.
And everything that the president's tried so far has not worked I would say let's take a deep breath.
Let's let the economy -- -- stabilize in the month of August let's let the committee work.
Make the necessary reductions in our fiscal policies.
And our government.
And let's see if that does not in turn right the economy and Wallace to prevent a recession and allow the stock market.
The start bouncing back.
But -- He came out and said that you would not have voted to raise the debt ceiling and many would argue.
But that was one of the reasons that we lost our triple A credit rating.
Because congress -- basically on that those on the right now but since the message of -- -- willing to let this country defaults.
In at least in order -- rather than come into the table and get that deal done do you agree with that.
No a day and I do not agree with that because basically.
What they came up -- -- just a a very small.
Partial measure that really doesn't do anything.
In the stock market -- rating agencies are reacting to the fact that congress and the president failed to do their job.
What they need to do is to reduce expenditures in spending.
So far they haven't done that until they finally realize that they have to get our fiscal house and shape.
And once they do that -- this economy is gonna turn around.
And that's why they should not have taken this path measure or partial -- because it didn't do anything except that except send the stock market.
Down and credit rating agencies that tell us that our credit rating is gonna have to be downgraded.
That was what the result -- and it was not the result of not voted for.
Are you ready to try and get back to DC and run for senate.
I am certainly looking seriously about it -- they need really right now the Republicans in to take over the correct.
The US senate so that they can actually make a deal.
A deal that works got.
Governor it was great to speak with you as always governor Tommy Thompson former head of health and human service come back and we'll talk about Medicare and all -- health related.
Take carrier -- thanks for joining us today.
Have a -- have a good rest of the summer day and thanks.
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