NY Times: Economy is Improving
Democratic Strategist Bernard Whitman argues the economy is on the upswing.
- Duration 7:13
- Date Jul 13, 2012
Democratic Strategist Bernard Whitman argues the economy is on the upswing.
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We'll someone at the New York Times is -- serious rose colored glasses this morning.
Take a look at the headlines in today's paper quote in the latest data on the economy experts see signs of pick up.
Is that really how anyone in the real world sees this joining us now is Bernard Whitman president of Whitman -- -- strategies.
Come on Bernard time to pick up I mean.
This that this that terrible headline that such a disingenuous headline I don't think some in the fact is.
That we've 128 straight months of job growth we've -- four point four million jobs created.
Manufacturing jobs are on the rise housing is starting to pick up the auto industry is coming back is enough actually not -- -- were jobs created.
Obsolete but there is signs of life in this economy on the informal -- seems that the Romney campaign can only win this election by continuing to talk to on the economy.
And to give promise of tax cuts to those who actually.
Don't deserve it -- -- you mean -- -- realistically that you would be that -- proud of this economy this economy as a reflection of the best America can do right now I'm proud of the fact that we avoided the second depression I'm proud of the fact that the president.
Has been insistent that we've got folks on job creation we have to continue to invest in education.
In clean industry in creating in clean energy and creating jobs what scares me.
Is the idea that Mitt Romney wants to come into office and cut taxes.
Five trillion dollars would we still -- an enormous deficit that's your response.
-- you're just -- by investing in education which we might see as spending more money that we don't have.
I don't think that anybody can explain that in this environment.
You don't think we should invest in head start for our children you -- think we should invest in allowing kids to go to college you know think we should invest in.
Giving our identity event that there's another word war and that's spending more -- another another word Ford and its sister is bogus because listen you guys hide behind teachers requirement headstart.
All the time and every -- -- what is -- -- quarters ago into the pockets of -- Bernard be honest about this that's why stimulus part didn't work because none of the money went towards any -- -- days.
It all is really directed to people who backed the Obama ministry all due respect.
The Karl Rove -- say it enough times and it's true doesn't work the Congressional Budget Office which is nonpartisan.
Said that the stimulus state three and half million jobs so the stimulus actually.
Did in fact -- okay let's -- on the what's second and let me let me come -- what I'm glad you brought up the CBO the Congressional Budget Office they just came out -- numbers and talking about the bush tax cuts.
Federal income tax liability -- other -- who's paying the most of federal income tax 60% of the top 20% pay 60%.
It was 66% before the bush tax has not all individual income tax.
The top 20% paying 94%.
That's up from 81% before the bush tax cut it's obvious that the top 20% of this nation.
They're carrying the load to carrying the burden that is amazing.
And you still talk about redistribution of money I don't I still put on a pop up that only 80000 jobs are created in the single month.
At three much we should be -- that -- but the American people have had their taxes cut on average 3600 dollars to American -- and the President Obama.
The fact is spending.
As a share of the economy is at its lowest level since I was in the White House that's fifty plus years -- spending.
-- that government credit card discretionary government spending -- at its lowest level since Dwight Eisenhower's in the White House you can check the facts.
The truth is that Mitt Romney wants to cut taxes for millionaires are on average -- to nearly 50000.
Dollars while raising taxes.
On the -- -- -- I don't I'm probably and I know I know with your business you probably go through these bullet points all the time which are -- with the guys that you know you're helping but.
Let's get beyond that -- -- this honest discussion for a moment.
Do you feel that America's living up to this potential do you honestly think that something is wrong that something should be tweaked.
Do you think everything the president -- has done so far with respect to the economy has been -- I think we are on the right track I think we're on the right track towards growth and I think that we need to continue.
In and being wise in cutting our spending and making sure it's -- president's budget does that two dollars and fifty cents.
Of -- Are a match every dollar it even used to go to has any democratic than voted for the president -- budget that we know that in no one likes his budget Democrats or Republicans.
Well you know why because he's he is attacking sacred -- we have got to cut spending were cutting defense for the first time since the ninety's why.
We've got to we've got to be smarter -- our investments.
And we've got to be able to extend tax cuts for middle class.
But it just does not and it.
If you're not -- acknowledge that the consumer doesn't feel like things are improving right now you can ignore the fact that corporations.
Are not showing any signs that they feel better about the economy.
-- is sitting on hordes of Catholic unwilling to spend that money if President Obama wants to tell them it's their duty and hobbled obligation -- I would say actually went corporate profits at a record highs and do have a duty to -- absolutely not have -- business does not have operating I I believe that there obligation is to -- -- possibility.
To invest in this country and create jobs you know what the American consumer has say five and a half.
Billion dollars a year.
You're going back President Obama cut credit cards weird hey you know I -- -- -- -- unless they're.
What is their money into why don't companies want to spend why don't they wanna hire because of uncertainty uncertainty in -- economy you know.
-- -- -- tied to a certainty in this election.
Tied to the anti business anti success rhetoric from the White House which is scaring them more than anything else notion that somehow this president is anti business when business creates jobs.
Is absurd it's a talking point.
From the conservative side.
The fund millions disrespect I've read more yeah -- bets from people from from business owners who are not is not conservative not Republicans a lot of my left -- but I get a one thing -- -- -- -- -- signal.
But this welfare society that the president is really promoting.
Does he see this is just the way of gaining more people who are indebted to the government who both -- -- -- he's sincerely believe.
The having all the people on food stamps and welfare of these people yeah -- the reason why the more people on food stamps is because people lost their jobs no wants to be on newsstands -- that's absurd I I disagree on that night.
I think yeah.
And that's another ugly American well you know what some people do get over think they're getting over and guess what you wake up in the morning anytime you want get a -- -- to watch video -- all day long because someone across not a newspaper -- -- -- because there's so -- for -- -- -- moment or very small portion of the American people.
I think -- -- portion that's growing larger every day -- -- -- -- and I -- by the right.
They shouldn't demonize fix everything that I -- every American who gets up at 5 o'clock in the morning across the -- -- the lower than -- -- -- most Americans -- and -- 160 million of them got a tax -- I'll be glad when -- stops demonizing workers' real workers who -- creating real jobs -- I would be so happy -- stop demonizing successful couples and comparing -- also make -- 300000 to Warren -- that's the worst kind of demonization to at centerpoint centrist point.
That's what's your -- every hundred -- you're doing okay.
Doing okay is that Warren Buffett.
Okay -- don't -- -- -- and I think that those people who are making 300000 dollar should not be paying lower effective tax rates.
Then a household paying 50000 done making sense not there room all right well we'll continue to -- and our it was a nice.