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You very much want to bring in democratic strategist Christian Dorsey the Economic Policy Institute Christian.
-- just points.
And we -- it we looked at what happened with the Dell yesterday the president's speech talked about jobs for veterans.
Certainly we wanna see the nation's veterans get back to where -- would want to see a lot of people get back to work and and the didn't of the president at this point needs to refocus his attention.
On the private sector and maybe get away from what he's been haven't focused on which is the government being the higher in chief.
Throughout this so called recovery it has decreased.
Private sector employment has not grown.
Sharply enough to really do any kind of damage to getting people back to work so.
The -- issues that we have in the jobs market are far reaching and are gonna require a lot of different initiatives in order to get us over that -- it's not just simply a matter of one thing or the other it's really a matter of all of the above.
And the reason that we have businesses that are are really -- -- and looking at the future.
-- nothing to do with tax uncertainty it has everything to do with demand uncertainty.
Looking at the horizon and not seeing anything coming from Washington.
That's going to significantly improve the employment rate and therefore bring new customers to them.
Increasing demand and increasing their prop.
Specs are rip Michael pet don't to this Michael do you agree with questions point -- I I do agree there is no demand but why do you think there is no demand household.
Sector debt as a percentage of GDP.
Is that nine -- 2%.
It is doubled since the early eighties that's why there's no demand because households have to be leveraged.
And what you're saying we who are your arguments are is that the government needs to spend more money.
OK so we increased our publicly traded debt by 90% in the last four years do you want us to -- right towards Greece and Italy.
Why do you want to do that let's just take our medicine lets you leverage and let's get back to a real economy.
Before -- -- let.
How does deleveraging get you back -- that to their -- real economy get out and actually -- how does withdrawing demand actually get you to where you wanna go because how clearly.
Clearly we have issues with people being over leveraged as far as debt that's not a modern phenomenon that something that's been building.
Over the course of the decade but the way you fix that issue is to get people employed and having any -- that grow.
And had not been -- only haven't got.
If they can pay down debt if I had a negative vote -- I can interject here for a bubble we just got breaking news settlement -- that from Fitch that consumer credit -- actually that the consumers are saving more they're paying off their debt.
Quicker so the American consumer is taking action.
The the people of the country are taking action is not coming from Washington you know it's almost like if you build it they will come Christian and that is that let.
Where -- a private sector but the private sector create jobs let consumers figure out if they need to leverage themselves why this is have to be Washington policy which so far.
I even go back to simulate the Christian has no works.
What a -- explain to me we've had we've had stimulus which is winded wind its way out of the economy and for the better part of the last year this has been a private sector recovery.
And it has not produced in the aggregate jobs faster than the rate of him.
I think there's a force fed the government's job creation.
Because government is still resting at the same time -- got I mean I could not not not not the federal government.
State and local governments were -- -- and a don't want the government borrows money where they get that money from our.
-- -- If it's in treasuries which are right now cheaper -- -- and then I'm thrilled that our date -- where even money come from it comes from invest I don't know -- -- restricted.
So it's a deferred tax.
On future consumption with interest.
So you're not -- looking at a nation at all.
What are the deleveraging get you tell me what this deleveraging to -- -- you know how the data available bottom line and that's where out of the how does it do that explain because when the household balance sheet is repaired and the government's -- -- Then you -- start a sustainable recovery until then you cannot do that because people are selling assets and paying down that Chris can create jobs when they're selling assets and paying down.
-- I gotta I gotta go but thank you -- -- is always great to talk to you and thank you for coming on that day of course for the markets thank you Christian Darcy.
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