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Former Clinton Advisor Bernard Whitman on the former president’s comments about the economy and why he is optimistic about the administration’s po...
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The Obama administration says that the nation's 2.2 percent GDP growth this quote in urging.
Meanwhile unemployment remains stubbornly above 8% but Bill Clinton says that President Obama has done.
A good job on the economy while former Clinton advisor Bernard Whitman is here.
-- you know what a lot of people saying that Bill Clinton's comments Bernard.
Not necessarily -- housing it is yes -- stamp of approval I think it's actually incredibly accurate the fact is the economy is finally picked up -- -- -- Hear the facts to 25 straight months of job growth vs two point six million jobs lost under bush.
-- Panetta -- -- got there's there's three groups that are -- economy all three.
Are showing increasing signs of optimism who are the number one the financial markets had their best quarter in 2012.
That -- the Dow and the S&P best quarter in fourteen years -- NASDAQ best quarter and over twenty years.
Number two the consumers.
Eight months ago two thirds of the nearly thought the economy was still the downturn today.
Two thirds think the economy has stabilized or we're beginning to recover.
And three small business owners obviously key -- economic growth key -- job creation.
Are increasing optimistic if you look at the Wells Fargo Gallup business index.
It's at.
Highest level it's been an almost four years -- are but where is that level that that you know small business owners are the least optimistic anyone out there and they are the prime job creators.
Consumer sentiment as far as sentiment is concerned we can all hopefuls all day long the fact of the matter is though I would be a little worried about consumers because they are dipping in the savings.
-- -- what they are spending and finally.
You know we talk about the financial but -- not for for president whose campaign against Wall Street.
This campaign against the banks I mean really is that the president with the -- -- -- to the public that they pay everyone the don't break reelect -- everything gonna take that -- let the banks the financial markets have to have confidence to be able to provide the credit so that small businesses and that's my economy Bernard that's the point that we do you think people out there watching this -- feel like they're getting credit I can tell you all for it's a car right now and I think that's been manipulated.
-- make cars I can tell you small businesses relative to 234 years ago are feeling increasingly bullish about this economy in fact.
Compared to even six straight months ago the fact is.
A small business owners consumers.
And the financial markets or more optimistic today.
And they have been six straight months have anything and are the only people who -- to continue talked on the economy are Mitt Romney in the Republican.
-- -- talking down the economy but I -- be quite frank with the your body language is flat right now and analyze what because it's really hard to it to be enthusiastic about 2.2 percent GDP growth.
This -- -- -- to a so called recovery.
Eight point 2% unemployment millions of people dropping out of the jobs market I want America to be great I don't want us to abandon its chip but that's what's happening people of abandoned ship.
Under president will be no right to it's my -- mentioned that the most violent because triggers -- blew -- my back over the weekend.
I think it actually -- look you know my fiscal their present patients in you know what the -- economic -- gonna take a little bit of patients the American public.
A lot of -- Brad let me tell you win but the numbers are beginning to bear out the -- -- let me have one point here is not just small businesses that are not feeling good about this recovery or lack thereof.
It's large corporations that as we go through earning season we're seeing record amounts of cash being thwarted on their books why.
Think blow up profits they -- spending that -- because they don't know what's coming.
Large corporations are very hesitant to hire and spent right now.
Well I think that that that is a major problems are -- mainly you have seen.
You have seen large corporations have record earnings and the fact is they ought to be investing in Aussie they -- jobs out how to -- no I I think I think AD the government should actually be a bully -- I think the administration could be a lot more aggressive.
About -- corporations and record profits market go ahead.
Invest in America basically put our people back to our ticket sales -- billion dollars worth of product and China we should we -- export their fried chicken out there hopefully gets their crispy you -- -- -- run out time I do wanna say this though.
Before we go -- realistically.
This celebration of mediocrity do you think the American public wants this -- you think you can get by with -- excuse.
Just think that's what they'll let let let's remember here for the last administration world for lots -- attention -- opinion -- -- the ones and topic they're the ones that got -- suppose that's up over two wars and pay for about that they'll put it a bit have to be reelected on its own merit he can no that's Friday real attractive Pope and -- -- this president.
That you know we did.
We went from we went from the -- -- biggest surplus in American history and a democratic president to the biggest deficit in American history and Republican to digging out of that hole and I think the American people -- -- you know what.
We've come a long way we're not all the way there yet in the was the last who want to do is turn the reins over to some rich guy -- been it's been -- -- -- during the middle class.
Original campaign -- pointing fingers at the previous administration that's how the president and the potential for Romney administration which is even scarier than bush -- but essentially will present in this asking for a chance to let policies work because they have not proven to weren't just yeah they are beginning to work and they -- a great depression and they're gonna continue.
To pull us out of this recession are Whitman I hope you back it's better than -- --
