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FBN’s Stuart Varney argues the upcoming jobs report will show increased unemployment and that the economy is continuing to suffer.
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Welcome back everybody he might not do his Anna wintour imitation but he surely has something to say.
And say it -- -- Eloquent -- about the economy -- volumes joining me has come bonding company which starts -- 95920.
Close any government wouldn't get it up.
That was the nicest introductions taken and I think and I really didn't I didn't even -- you in the T I just thought you know I I -- -- -- back from vacation.
Up you say this week it turns all the attention politically economically turns back to what's going on in the job market and -- in the White House do to fight what is still not decent job growth.
Hello Friday morning 8:30 eastern time here comes the next jobs report there -- only four jobs report from now until the election.
This is one of them and this may be the most important.
I think the unemployment rate goes off.
Which is it disastrous headlines for the present -- I'm not sure of this but in my opinion it's going up and -- number of new jobs created will be miniscule.
-- -- based that on all the indicators that we've received about the general state of the economy the last two months.
Which you know that we've actually spent less money.
In each of the last two months consumer spending down it America that's big.
News this is a -- oriented society this is a spending society in fact studies -- bad news.
Is that because I -- and we you know in a place where but this becomes self fulfilling yes people -- -- more concerned about the economic -- back spending they make the economy warrants.
-- all precisely right it's a vicious circle and it goes round and round and round.
No jobs it was lack of confidence equals a declining standard of living equals less spending equals less jobs you go round and round and round.
Would not broken that -- at this point we couldn't.
I think if the president made a deliberate and concerted effort.
To liberate the two trillion dollars which private enterprise has in cash on the sidelines if he could get -- -- coming to the economy.
Give private enterprise a sense of confidence I think that will be a huge stimulus I think -- would -- Is there anything that the president can do between now and the election that really turns turns things around because again.
You were saying that we're shifting from health -- to the economy but.
From the Republican side the health care decision is the economy because that's attacks on eight many Americans.
It if the president would decide obamacare was a mistake forget it.
If he were to say that Dodd-Frank financial -- regulation was a mistake please forget it.
If you -- to say I don't want any law the government stimulus I want tax cults that individuals of private enterprise on what tax default if you wanna say those things.
Yes I think things would toderat let you -- as well as -- -- he's never gonna say anything like that at all this president -- changes direction.
I would point sued the.
Top when I woke up this morning the top read story and the Wall Street Journal on wsj.com.
Was the get ready for the new investment tax and it's at three point 8% additional tax.
On investment income for people making -- -- 200000 dollars a year so I think -- of people are focused on not only tax cuts expiring.
Watch this is not do anything about that and then what other taxes do you want but on -- And they're very fixated on health care as attacks from here on out the president hasn't even higher hurdle.
Told it but it's he's in a really tough spot all of his -- making.
Look at the new taxes which are coming down the pike because of Obama that because the supreme -- has okay go ahead with -- Obama cat.
That of what is it to Biotech companies and tax medical device makers taxed health insurance taxed a new investment tax all these taxes off going up.
We you will pay for them it was squeezed people is squeeze employers to drop health care coverage -- -- people -- Public.
Health care and payment 10% tax excise tax retain 10%.
That's held huge tax story view that's he didn't go get back ten in Nassau beach beach and you can tell -- -- good.
-- -- -- that's why I love you more every day Easter -- thank you so much and what does that -- this morning.
