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Don't worry everybody President Obama is working hard -- -- new jobs plan that he'll unveil whole.
You know any day now about after Labor Day.
Well what's in it we don't really know.
-- it'll probably similar to the other half -- half -- plans he's muddle through and today He announced that labor economist Alan Krueger.
Were -- Austan Goolsbee on his White House economic team to listen.
Now even as we deal with this crisis of the moment.
Our great ongoing challenges nation remains.
How to get this economy growing faster that's our urgent mission.
That's what I'm fighting for every single day.
That's why today I'm very pleased to nominate Alan Krueger to chair of the council of economic advice.
So who is Alan Krueger.
This genius was behind the cash for clunkers program that was meant to boost car sales but cost taxpayers three billion dollars.
Take a look at how successful that was.
This chart tells the whole story.
A spike up sure you know when you put three billion dollars and anything -- things go up but a bigger spike down a month after the program ended car sales plummeted.
To a point lower than they were before the program began -- is mr.
-- a clunker of an appointment.
-- but -- back with a scheduled.
The the Obama administration in the economic advisors seem only be able come up with how can I make government bigger how can I spend more.
How -- guy on artificially -- boost up whether it's an auto industry housing industry a shovels are ready for -- -- jobs industry.
They never work.
Global of this guy as the original clunker.
This is one of the most politically correct administrations.
Of our of our lifetime where everybody is afraid.
Criticizing even answer for -- global warming without being fearful of being called racist.
Yet the late night comedians who will not criticize Barack Obama for fear of being attacked.
-- as racist.
Where they are to attack cash for clunkers because it was an obvious -- Offer from the outset what I what can we say about cash for clunkers.
OK great you get rid of a 4000 dollar car you give it today at the dealership it -- of the government they destroy it.
That's a 4000 dollar car that could have been bought by somebody in its you know that that's now out of the market raising the price on on resale.
Cars out there so these people don't even understand.
The very basics of economics not every person can afford.
A ten to 20000 dollar car there are some people out there that need to go.
On -- Craigslist are going to auto trader and find a thousand dollar car and these -- wanted to take those cars.
Out of the economy were actual -- people.
I this is where they get their cars in the first place right Andrew and ended these programs -- the mortgage mitigation program had the same effect it was announced there was some sales.
Wants them the program and -- or or slow down.
The sales plummeted it's if -- now.
It it's this this tinkering with the free market that they don't seem to get yet they keep trying.
Over it over all over again this guys is gonna play right into the Obama administration of bigger government more socialism.
-- the taxpayer get the people who who they think need some help.
Although -- -- it to me the strategy.
G was dictated.
After the president lost the election in.
November of last year was He going to hire Dick -- and start doing.
It and start trying you lady now He met with Richard Trumka and they created their what their stand and what's gone send.
This is an administration that's gonna doubled down on class warfare and and approach SE -- U protest in.
On the long as the front lawns of Bank of America executives and -- The pour vs the rich in this country which is something that's so fundamentally -- American and so.
On the sidelines of the people with well the people that have the capital -- we -- gonna wait until there's a more call weather system.
For economic growth in some Barack Obama sending all the wrong -- Suggest to people and industry right that's a very important point that -- that you know the unemployment rate to nine point 2%.
I've -- 1% -- so or whatever it is anymore and it that's because people are -- because they're not sure what the climate the business climate going forward is.
If there's gonna be another senior economic advisor like Austan Goolsbee who walks in the guy who this this new guy Alan Krueger was -- cash for clunkers was clearly into this.
Keynesian garbage that -- hasn't worked the last.
Three years business owners like we're going to say the same thing forget it -- -- higher -- what watch a higher nominal wait and see see what happens in 2012.
Look can you imagine what happens -- -- -- when Donald Trump gets on TV he's gonna point to this guy.
He's -- as a as a businessman he's gonna send a message to his crowd.
And at the cocktail circuit everybody's going to be doing the Donald trouble line about can you believe we -- the cash for clunkers guy.
People -- you know people that's how people think they're it's a collective consciousness.
Out there and the business community does not trust this president he's made bad mistakes in this in that in the first two years of his presidency.
And he's doubling down on them are and we're gonna keep not absolutely going out thank you for joining us -- by part thank you.