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-- -- the number of Americans applying for unemployment benefits falling much more than expected this week but.
Is it really all good news Al -- sunny -- -- turnarounds president former assistant labor secretary joins us now.
How we got this number it seem like good news on the surface but is this.
I know -- it's basically a false positive.
And it's a game within a game when you look at these -- weekly unemployment claims you have to look at the broader base of activity going on in the employment numbers.
So I mean what does this tell you about the rest of the year what does this tell you about 2000 -- because.
The president has come out and implemented a lot of new jobs programs that we have another we proposal on the table right now.
Visited -- the government is gonna be the one to create those permanent jobs do you think the president is making the right move here.
No -- the presidents had it wrong from the very beginning and I say that respectfully.
His advisors Austan Goolsbee Christina Romer and everybody else they worked on this premise coming from you know very difficult economic situation.
That the government could stimulate the economy that's tech I think it feels good but going back to.
My days with President Reagan in the Reagan administration we had 10% unemployment I can tell you for a fact that the only thing that's gonna create real job growth in.
This country's bottoms up.
-- actions that stimulate small business job creation.
What you know Dennis I mean He makes a great point I want to bring you -- to this that that it.
The government the big debate has been can the government be.
You know -- -- she could the president -- creator and chief when it comes to jobs and so far these plans don't seem to work up the congress is gonna may be a.
Of those well I probably won't you know when problem is that for all politicians on both sides of the aisle makes a great press release to stand next to a guy with a shovel who's about to build -- that the government is provided some.
Well before but it won't create the actual jobs and and look at the 450 billion dollar of the jobs program which it.
What one economist says gonna cost to -- thousand dollars per new job created for jobs gonna pay 50000 it's incredibly inefficient.
And some people like mr.
anger -- himself here believes it's basically eight hit back for union employees and for the constituencies that elected Obama.
Might I -- totally sensational I think that mister -- we're gonna get that right.
-- Dennis you've got it right when you look at the package it's the same package that we had in the first stimulus bill.
Which focused on you know infrastructure jobs that are basically are going to high paid union labor.
Which you know is very expensive in most expensive job you can create from the government perspective.
And it's going largely due extend unemployment benefits which is a good thing but that's.
Part of the president's constituency.
So it's sort of a political package a political calculus wrapped in the stimulus bill that will not work just like the list when you work.
-- I mean we were talking earlier about we to get this is third and final read on GDP this morning for the second quarter and actually built a little bit so it seems that.
From an economic standpoint we're sputtering along we're not going to be see a recession.
At this point but still we're gonna have a stalled economy and that's gonna continue.
Then and I think one of the biggest challenges you hear from small businesses is that they don't see any demands.
And they say they are complaining about -- sales large corporations are sitting on piles of cash that they're not spending.
And so the ideas how to starts to kick start demand and I think you're not gonna see job growth until we start to see the economy moving one didn't.
But you know what out then you and when you -- with the Reagan administration isn't that what you did what it was a completely different -- than what this president's taking President Reagan of -- call.
A really did target small business and basically.
And three capital to think.
-- theory that the time correct.
Actually a new President Reagan in the team around him Dave -- myself others we sent -- -- numerous meetings in.
We were look at an 18% interest rates unemployment of 10%.
Very much similar conditions if not worse than president.
Obama's looking at and a big difference Cheryl was that we decided that the only way in a free enterprise economy if you can get the economy growing again.
Stimulate in the -- -- -- create jobs from that is to focus on wealth creation.
The -- you focus on wealth creation He -- -- entrepreneurs and business individuals small business owners to be able to go out.
Make money create wealth and that wealth creates jobs this administration has taken an entirely different -- For their own -- This is fair share loss of improvement out animal welfare charity thing which I'm getting -- here and that I look at my paycheck and I'm playing up.
And Clinton that I've.
All of more than there right -- so I maintain my.
To give reminded of Alan resigning anger sunny turnarounds president -- great to have you had a premiere experience I'm sure you're a busy man and a -- -- thank you.
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