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American Axle & Manufacturing CEO Richard Dauch on what is needed to boost the U.S. economy.
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Well American Axle & Manufacturing CO Richard -- says there is reason for the White House to be -- things are at least looking -- some on.
I'm what -- you run on the front lines of you've got a good read from the manufacturing sector from what other CEOs say it will what is your gut tell you about where we're going toward November.
Well first -- thank you for having me here to share some business thoughts with -- in your viewing audience it.
What we see right now is very tough times we've been through tough times more importantly we got to focus on the future.
And we gotta get back where we put America back on track.
America has to be able to be competitive you you -- don't see that the case right now we are certainly.
Failing as far as being competitive grew wouldn't have this debt we wouldn't have this kind of spending raise your guys -- of concerned about the debt concern about oil we're all concerned as business people about it because we try to employ Americans we try to invest in America we try to produce new and greater products for our customer -- -- marketplace.
And do on a global scale because America global scale that the administration criticized right.
Well they isolated a -- we have to look at the realities outsourcing is simply a symptom.
Of not having been competitive.
In the business cost structure for many reasons.
And we've got about 20% burden right now in the manufacturing sector in America that has come over decades not just the last through four years.
In tax costs regulatory costs.
Trade imbalances.
Energy and regulatory things.
And you know what's happening in the last thirty days and special last week of things who simply drive costs and other costs higher.
That was -- members feel as that is professors saying just before Richard did that.
You know they're getting kind of used to -- numbers as long as they don't get worse.
I'm not saying -- sanguine about it but -- kind of resigned to it so it takes a lot more for them to repudiated president well.
I have great belief in our country -- citizens.
And an overview six they'll finally decided in a democracy.
Which way they wanna go where your members have -- they had to be asked that question are you better off now and -- four years ago I would -- well they would absolutely be very deeply concerned on negative side right now and -- cut 101000 postman when our payrolls we have big.
Payroll -- make every week and we have suppliers have be paid every week.
And they're all concerned because they see the business enterprise being challenged read it today want to -- out of the government of the white outside of whomever.
They want to see policy revisions they want to see us get back into fiscal balance they don't want to see us spending more than we bring him for that want tax cut and they wanna make sure taxation has to be fair reasonable.
If there's tax cuts needed.
Absolutely should be given consideration when the president talks about letting old -- The bush tax rates continue except those for the upper income.
What -- business guys tell you about well as I talk to business colleagues and I mingle with many over my five decades in this business.
They think it's absolutely wrong to be to -- That we should -- tax policy that impacts all not have a 50% of our people not paying any taxes.
And also being too open to welfare isn't socialism and the different things of entitlement.
They're out of control and they have to be brought back into control.
There -- did discipline on the economics there must be a balance today feel that they've been targets.
Of this administration.
They being who him that's it a fellow CEOs -- bosses in manufacturing -- that they had been vilified I don't think that they're feeling like there's.
Mercy mission here or something negative I think they're very responsive responsible and looking forward.
Respect the past we -- focus on the future that's what CEOs do.
We're here to be job creators.
Personal line -- job creators alliance clinic is their wonderful organization trying to help free enterprise and help get business.
-- out to make shoes communication knowledge for the voting public and for all people not just -- deals but more importantly our average John and Joseph citizen.
These people have got their homes and their families that state can we've watched the last 34 years for the average.
Net worth.
Of these men women is gone from 120000.
Dollars down about 69000 dollars that's -- horror that took over what time over the last three and a half to four years our average people have just lost a tremendous mother net worth.
-- and you know -- the exacerbating things are on home foreclosures and or if you're families -- us.
It spirals out and what we're trying to do is get manufacturing back in touch it because people -- forgotten that we have to produce we have to make things.
And America's damn good at it we forgot we want to do this was engineering and science and innovation.
And our company had one of the most difficult chapters in the last forty years to -- come back to be strong.
Global player and we can do it's -- shows that anybody can do it.
We've done in Detroit Michigan we can do it anywhere in America aren't you you're in tough neck of the woods to do it as well Richard -- thank you very good seeing.
-- proud of you keep up the great works of.
