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FBN’s Lou Dobbs on the state of the economy’s impact on the Democratic Convention and Obama’s re-election efforts.
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Into -- chalk talk how not to began an actual political convention.
The Republicans showed us about being sensitive to weather now the Democrats are showing us something as well in fact -- Obama.
Already have a tough enough sales job in Charlotte this week even before today's dismal economic headlines.
This afternoon.
The national debt topping -- But -- just national debt topping six team trillion dollars crossing over that magic.
If that magic level on the day they open up the convention and of course it is going to keep going.
-- -- -- this amounts to about.
Well -- over 50000.
Dollars.
Per.
Person across the country.
More debt per capita than for example.
Portugal.
And Italy.
-- Greece.
Spain.
Now in this -- that's spells and -- Picked.
-- why -- that's that's coming due to all that debt.
Just where it came out.
And today well it comes even there's even more bad news for the economy.
But especially for the almost fifty million people who are now on food stamps the actual number is an unprecedented.
Forty six.
Point.
Seven million.
People on.
-- -- It's more than 3% increase from last year.
In fact spending on food stamps has more than doubled over the past four years to a record 75.
Point seven billion.
75.
Point seven.
Billion dollars.
And it said and it's a double.
By any stretch of the imagination where the president since he took -- and today we've got the news.
And in the -- keeps come.
Gasoline prices have a Labor Day record over the weekend the national average price of -- dollar gasoline three dollars 82 cents.
380.
To.
-- By the way.
That's another.
Double since he took office mr.
Obama's having a lot of fun as -- 41 cents by the way higher gasoline prices and just a year ago almost double as I said the price the president took office and Gallup.
And sucking more -- out of that convention down in Charlotte reporting today that americans' economic confidence registered a money just 27.
Confidence.
Minus.
27.
I mean that's the lowest since December of last year and construction spend construction spending.
-- in July -- by the most in a year.
You know it just keeps going on it is quite a way to begin a convention -- thing but what we fit may be required.
Here is well.
-- about convening then intervening.
The Democrats in convention wanna talk about a phony war on women more victim hood Bain Capital governor Romney's.
Taxes and -- did you know that governor Romney keeps money.
And banks in the Cayman Islands and Switzerland and other countries.
I mean are you serious this is a big deal.
Did you know that some of us you would mean we drive foreign cars.
We by foreign stocks.
We -- -- clothing.
And computers -- TV sets from.
Cut trees.
Who what does that say about.
This may come as a shock to some Democrats in convention.
But President Obama has helped fund raisers.
In -- cities he went there and money from other people for his campaign.
Shanghai and Paris London.
Or gifts.
And Geneva -- Swiss right.
Maybe the president should be able.
There's something into the battle that isn't.
-- you never know.
Well this is why we bet a lot of Democrats right now.
Are wishing that there could be an intervention.
Instead of a -- By the way these are just the headlines out today.
During president Obama's first term.
Six.
Number six here be -- This is the six -- today.
-- -- -- -- this plunge from -- 126000.
In 2007.
One -- six.
This is network.
Down.
To 77000.
Dollars now.
And they want to talk about the Cayman Islands and in the governor's tax well and how about item number seven here we can just add one more.
Average incomes -- fallen from forty -- thousand.
Almost almost.
651007.
Dropped to 45000.
45800.
Over the course of the past year.
And today.
31% of mortgages are underwater.
Making it an even a 31%.
Under.
One -- Mortgages.
That you know via.
A compared to 20% for years ago are you better off than four years ago.
Gotta take a look at the numbers -- I know that the Democrats have convened but it's not too late for them to intervene.
If you're wondering about the numbers at the bottom of the screen by the way.
Not one -- -- that's a number of days of President Obama spent this thing high schools.
-- colleges.
One out of every ten days he's been an office.
That 104 down here we are better way that's that's the number of rounds of golf.
That he's played during his well almost -- -- firm.
270 you realize if he had just gotten him one more here we could have had an exact doubling of -- rounds ago but just mr.
-- That we would call incomplete now are we giving full credit for is 207.
207 is the number of fundraisers.
Since he declared he wanted.
The fix that incomplete and would run for re election.
