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Larry Sabato of the University of Virginia’s Center for Politics on the impact of the latest data from the Labor Department on the upcoming presiden...
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Before minutes into the trading session we are down 160.
Points on the Dow Industrials.
And -- jobs report has become much more than -- economic indicator is now a key fact I believe in the upcoming presidential election.
Joining us now -- suffer from the University of Virginia center for politics so welcome to the program when do you think.
This on calling it very bad news on the jobs front and on the economy when do you think he hates the polls.
Well it's a gradual process of Stewart the elections November -- remember.
A fatal mistake made by analysts and all fields is projecting today on two months from now.
-- you never know what's gonna happen but look obviously it's a disastrous report for the White House.
It couldn't be any worse really.
And combine this with the lowering of the GDP estimate for first quarter from 2.2 percent to one point 9%.
Hey it's really tough for president to get reelected.
When you have a one point 9% growth in in GDP.
That -- figure normally used as around 3% has to be growing about 3% in her presence be reelected so look.
But either the numbers get better.
Or I don't think president Obama's political prospects well.
What do you make what do you make of the White House political response to the numbers in brief they said look the president is working on this.
He's policies all hate getting as digging us out of the problem.
And the problem goes all the way back to the bush years what do you make of that as a political response to this news.
Well it's all they can say but obviously -- doesn't cut mustard with with most voters look in the end.
People look back retrospectively.
At the last four years and they asked that famous question are you better off MI better off today is my family better off today is my community better off today and my nation.
And four years ago.
That's they don't say well you know -- started under George W.
Bush.
The partisan Democrats do but they're already going to vote for.
President Obama.
It's those middle voters those swing voters and they ask a very different question why should we expect the next four years.
To be any better than the last four.
And -- -- the right -- all the conclusion.
Is pretty negative.
Now it's June 1 and and I -- things turn around before that's why being cautious Stewart and other people should be do but it's not good news that's on the.
-- -- tax -- second for President Bill Clinton.
He was describing.
Governor Romney his performance in his business Korea.
He used the would still rolling he said that governor Romney had a sterling a that's a direct quote I styling business Korea.
Looks awfully lot like another Democrat jumping ship.
From the attack on Bain Capital jumping ship from the Obama's what do you make of this.
Well obviously President Clinton has not completely forgotten the primaries of 2008.
And from time to time he enjoys taking a -- like that.
But you also remember the advice that deep throat that gave during Watergate follow the money.
President Clinton's campaigns.
Hillary Clinton's campaigns.
The Clinton Global Initiative they've all gotten a lot of hedge fund money.
So it why should Bill Clinton turned his back on people -- helped him.
Helped Hillary.
Helped his Clinton global global initiative I believe his daughter Chelsea and son in -- have worked.
For securities firms as well.
You know that -- -- -- pretty well do you think -- President Clinton is is just abandoning.
The Obama team.
Would you go that far.
It is easy enough also -- he can't afford to do that because remember they still have politically ambitions for 2016.
-- -- -- you sure that I don't want it said they can Bill Clinton at the end of this campaign.
You know one of the people who stabbed President Obama in the back was Bill Clinton that would hurt Hillary Clinton for 2016.
No this is just a glancing blow.
It's a little reminder to the Obama team that Bill Clinton was a popular two term president and right now President Obama is in trouble.
Okay -- out of professor we always appreciate it when -- on board with those that thank you -- much for joining us on a very big day in politics business economics markets united thanks -- -- -- -- thank you --
