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Why Are We Getting Poorer?

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  • Description

    FBN’s Stuart Varney breaks down the state of American wealth.

  • Duration 2:22
  • Date

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This transcript is automatically generated

Full he how the -- with you always.

-- chapter fourteen -- seven from the king James Bible how true.

He is the public -- story of today.

In the year 2012 the number of people classified as -- will hit a new high so here's my take on -- cash for of America.

And that's important caveat because we define poverty in terms of the cash coming into a household.

You can get food stamps of your own home alone a cop I get -- hate life and medical cap all -- by the government and US still classed as Paula if your income is low.

So why would -- expanding -- kinds of government help all mall people being classed as cash -- It's the weak economy.

It's the failure to produce jobs it is the failure to -- America growth.

The president has concentrated on spreading the wealth and punishing business he thinks that's the fasting to do he wants to raise taxes on the rich to even things out okay.

That is the basis for his presidency.

But ironically.

His policies that being that he is created.

-- maybe creative even greater unfairness.

The census department issues its report right before the election which will show -- record number of people considered pull -- Perhaps the president will argue that government handouts must be expanded still further to cushion -- rising poverty.

But that will not reverse the underlying -- only growth in jobs growth in payrolls that will change the trend only growth.

About something the president has failed to deliver and that is -- take.

However the company is still here with the and take go among rival -- It -- -- it is it takes -- government village.

And not small businesses and entrepreneur others have to -- thing and -- -- -- -- -- is not behind the fiscal collapse in the financial collapse in this country.

The middle class one and opportunity they don't want a government life line.

Gonna have growth think that the growth in the economy -- the springboard to jobs and getting people out of poverty and what we're doing right now is a wet blanket we need to change something then.

Very quickly time is not on our side.

We've got it seems things right now don't think you can do it in time you give it the and the next year can you change things if we get political chips that's -- opinion.

The highlight -- is next so stay right.

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