You're watching...
The Washington Examiner Senior Political Analyst Michael Barone on the economic outlook.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Well that's some good news -- President Obama heading into his second term Americans outlook on the economy's actually pick it up.
According to a recent a Fox News poll 37% of voters are actually satisfied with the state of the US economy.
And that's up from 20% when the president first -- -- in 2009.
Michael Barone is a senior political analyst the -- examiner -- Fox News contributor joins us now from DC.
-- 37% satisfied I mean I guess it's better then down from 20% right.
Well -- we we have you know we were talking about exactly four years ago -- just been through a major financial crisis of the outlook for.
Some really major problems.
Was unclear so.
You know when you've got 37%.
Saying they think it will be better that -- 63%.
To think that I don't think it'll be better.
That's a pretty negative verdict and I think it's a lot different than you would have seen on the the day -- The day of Ronald Reagan's second inaugural -- Bill Clinton's second inaugural.
You know what else was very different I thought today was his inauguration speech.
Very liberal I mean I guess at this point it is not to worry about reelection but.
We talked he talked about climate change saving entitlements.
No move to the senate whatsoever -- that surprise you.
It surprised me to some extent we cared.
You know there was there were several sentences and there are about green jobs and everything even though I think every serious policy analyst knows that this green jobs has been a movement has been a boondoggle to shuffle money to campaign contributors and crony capitalism and bankrupted firms like Solyndra 500 million dollars of tax.
-- payers money gone away and the macro economy well the economic recovery has begun.
Ha yeah I mean.
A recession ended according to you know the official time keepers of that in June 2009.
Which is to say.
Three and a half years ago.
Yeah the economy if if -- -- -- -- we're looking at a new normal here of one to 2% economic growth a year.
That's gonna mean continuing.
Long term unemployment for people people rush deals are gonna atrophy -- not be developed.
We're gonna be permanently poorer than we were on the trajectory that we were -- from the 1940s until 2007.
You know he's he's already looking to take on some big issues gun control being one of them of course he talked about immigration in his speech today.
And he's got these big budget issues what do you see actually happening over the course of his next term.
Well I think you know I think that this administration is gonna continue to try and expand the size and scope of government I think they're gonna act.
Not through regulatory.
Agencies and through.
Regularly regulations issued by the cabinet departments.
-- rather than through legislation.
I think they're gonna release got a clear indication for President Obama today that he is not interest did in any changes in the entitlement program.
I think that puts you know this is vivid contrast to President Clinton who's sixteen years ago when entering his second term was interest in -- that it did engaged in some serious negotiations which had at least some consequences in the Medicare commission.
President Obama is ruling that out.
My and that's a thing we can be eaten we don't see him moving to the senate all on any this so.
So what does this mean as far as you know the budget the debt ceiling the sequester all that stuff coming up -- We're kind of S so while at this point.
Well the answer is that you know I think we're gonna hear more name calling from the president as he has done in the past.
He seems to think that the only people get called names are people on his side what is factually just not true.
I reminded of the second Franklin Roosevelt term in the new deal historians didn't -- -- economically that was a time of sluggish growth.
-- time when the government was tilting towards private sector unions this government tilting towards public sector unions.
In -- time when you had a significant recession.
And big government heavy regulation higher taxes.
What got us out of that economic dol -- was something called World War II.
Well we're in economic doldrums once again we've got very sluggish growth that was sort that's not bad precedent in America since.
That time.
He and we certainly don't want to have a World War II on our hands and none seems to be on offer so let's I I'm not sure how we get out of this I think that these younger generation of Americans majority of whom supported President Obama -- or reduced majority.
Are gonna have to make due with less at least for the time being.
Yeah -- they're sick I gotta believe they're eventually gonna be a little disheartened by their vote.
Michael -- thank you for sharing your thoughts with us thank you.
