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Economist Jerry Bowyer on why further stimulus and tax hikes to boost jobs could help Obama’s support, particularly among the unemployed and many th...
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Big jobs stimulus measure.
Paid -- or in large part not entirely.
But in large part by limiting deductions.
Wealthier taxpayers.
Can can enjoy -- you're -- Well I'm not much much problem as -- I don't think the Obama administration.
Has got a -- we've got another band aid.
Basic notion being -- government spends more money we borrow more money or we tax more money.
Then everything's going to be -- But what are the -- Democrats allowed to -- Darth Vader is missing something off his political radar.
But the president knows full well that he's picking up the same old stimulus sellable.
But for nearly half of all Americans not paying any cut taxes at all -- that could be just fine and the president could be just very fine.
That's a huge base of people -- come to depend.
On one President Obama and Obama now that it's Andy here bestselling an economist -- -- zealot the president can depend on that as well.
Next year that is a powerful base Jerry possibly -- -- something get a BDR relied on.
When He was running for reelection in his case again and again.
Yeah.
-- -- a lot of people say that that we haven't had a president be reelected with more than seven and a half percent unemployment.
Since FDR and I say yeah out which means it happened under FDR.
Which means that in fact there are ways for presidents get to get elected with high unemployment and one of the ways.
Is the a lot of people on the take have a lot of people who are recipients of government money.
I think the vice president may have missed that on this one and if for example.
Roughly 23 million people work for the government right now when you -- federal state and local 23 million people.
52000000050.
-- million people.
Our recipients of social security and by the way it's not just Social Security because you know even though the vice president criticize Obama on entitlements the Bush Administration.
Gave us a drug entitlement you know Medicare part he's running -- about that time.
We've got we got fifteen million people who -- unemployed and most of them are on unemployment compensation.
So that ads which -- when yet and when you have to those people.
Not the people who directly receive money from government but are still depended on it.
Green industry for example people who depend on government subsidies.
You're getting to the point where we're getting more takers -- makers and it seems to me the president could plausibly.
The put together a coalition of the takers and even with a lousy economy still eke out a victory it's.
Kind of remarkable -- and leaving aside polls that are.
All over the map it contained but even now in the worst of all there's -- unemployment still stuck overnight percent.
No jobs created in the latest month zero zilch zip bumps signs factory is our our armed Iran are not kids to wall -- -- senator.
The president still has that personal high approval rating and wants more among his core constituencies.
Though down these very constituencies.
That's it -- had.
You know they're entitled in the end.
He feels entitled -- -- -- yes that's pretty good pace.
Yet as if you take the people who will go form because they're basically living off of Obama -- -- At the people who are just confused like for instance we found out today that we that from 20092010.
We increase the number of people and three million people fell beneath the poverty line.
That's the biggest increase in poor people ever in American history.
A lot of those people are gonna vote for Obama.
Even though they fell into the poverty category.
Because up and you know because of his personality.
Or because I don't know Steven Cole bearer or Matt Damon -- people.
Or coordinate clearly you'll get there and as bad as things are for me now.
I've got to gravy train I'm certainly not I don't welcome.
What the Republicans -- off.
Yes and and Rick Perry -- Mitt Romney -- or whoever they're going to they're you know they're gonna throw me out in the street.
So you get a lot of people were doing poorly now who will still vote for Obama and that he's got that base of people who are doing extremely well below the -- is good business for a lot of people need now.
We -- we are examples -- that you know do you a forget it was a lot higher than and and He get getting reelected later on.
We had a what a deal with but that didn't affect things in 1936.
-- nineteen.
Forty when He racked up big victories so -- this doesn't like what you're selling -- right so let me ask you this what would derailed.
If things got significantly worse.
Or on -- that we just a constant kind of at these levels.
What would derail.
Well two things one if things got so bad that that Mittal who just sort of march brain dead to whatever pop culture -- -- -- media tells them to do.
If the robot class of voters right the people don't really think about issues they just go -- for -- likable or cool if they stop for a moment and develop critical thinking skills.
You know that would certainly hurt the reelection prospects.
If things it's so bad maybe they'll do that.
Or the president you know its -- think it if the president follow Dick Cheney's advice and -- He probably lose.
Because he'd lose the -- -- let's say the president's okay we're gonna change everything we're gonna cut spending we're gonna deregulate we're gonna cut taxes.
He loses left base and no one on the right would believe anyway so -- blues -- landslide.
So the president.
Blowing out why He never did that around Jerry.
Always that's smart reading thank you very much thank you terribly.
