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United Advisors Chief Market Strategist Scott Martin, Republican Strategist Noelle Nikpour and Cato Institute Senior Fellow Dan Mitchell on the challe...
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Thanks -- -- senate sequester sounds he's accused -- -- But it's far from the only problem that we're facing right now here's the list re ready sit down if -- -- standing -- -- down.
A new study says that nearly 44% of all Americans are one emergency away from financial ruin.
The same study finds that 13 of Americans don't have any savings that all -- nothing a third of you have nothing.
Saved.
Today the president disbanded his jobs council after getting just nothing done.
They met four times in two years and of course there are still about 24 million people out of work or under what I've no idea what that group did I would love to know.
And for the -- January jobs numbers come out tomorrow but the predictions RD and economists forecasting an unemployment rate of seven point 8% completely unchanged from last month the progress.
Clearly we have got a lot of problems depicts -- quick.
-- -- Here to sort through a slew of bad news about Scott Martin -- -- imperfect.
Chief market strategist the united advisors you'll see in a second he's sitting right next to me.
So no Nicole Noel -- -- are about that -- well -- just so excited about Scott being here lot of parallels my now.
Very limited -- -- -- she's a Republican strategist Indian Mitchell from the Cato Institute also -- with you guys can you fix any of those problems what do you think.
-- I know you can't lose a scary thing about that study Nellis and if you give -- -- stated tells you one thing that's probably be another when it'll tell you something else list that's -- study report here's a scary other part of that study that's not mention.
About the people in that say that don't have insurance whether it's to -- -- Long term care for which are going absolutely nuts with regards to cost that's -- scary thing to -- that those people get sick.
It hurts that they're really hurt you're supposed to solve a problem not pilot another one on top of the -- darn well really it's not -- -- bars.
One of the problems that I see are the -- -- numbers for the jobs and you've got to realize that a lot of these things I don't really believe the numbers.
I don't think that a lot of people all the other fallen off the job market they're not looking more and a lot of people have taken -- a job that is below their level are part time job and they've actually count of that.
As a job so I don't think these numbers are true -- reform and all represent what are -- going to.
America wow okay did you want to weigh in because they just sort of added to my tell us about the violent.
We're gonna try -- sort through and solve some big but I guess that's pretty helpless what do you think.
Well first on the jobs they're still the fact that the president had a phony jobs council about doesn't bother me at all all White -- -- -- -- councils and put people on -- that's.
Look I think there's really irritating because some of the ideas that became and they came up with.
We're not terrible but they -- like nothing that you could really act on I I -- from a list of what that wise but it it just it's another thing that sort of looks day it.
It's insincere to me it's like -- here try to solve this problem but they're not.
But that's precisely the point it's not the fact that -- the president had a jobs council that he ignored.
The problem is that he's pursued policies higher tax rates heavier burden of government spending more regulation and obamacare he's pursued all these policies that have given us according to the Minneapolis Fed's interactive web -- The worst job performance that any recovery since the end of world war -- now on the savings issue I think that's actually -- that.
If you are in a very tough job market.
And you're lucky to be hanging -- a job and there are no opportunities for advancement you are probably not getting a good salary if you're not -- -- good salary all your income is going to cover your basic expenses.
So how are you gonna save I think these problems are related it's the week Obama economy.
So Scott agony and the only solution -- always is to grow the economy I mean we have too many problems to kind of try and solve them individually the only thing we can possibly do -- He's make things better -- how could we do that right now -- change the climate.
It ended its search of businesses in you've got to make sure that they're comfortable in today's climate with taxation with health -- which they're not Melissa I mean you saw that.
With all the money that went to Romney's campaign -- in in November of last year but.
I'll tell you I mean look -- cut.
Judge the -- like Noel mentioned you've got a job market that is full of slack.
I mean seven point 8% unemployment pets dot YouTube that's not right it's a technical term try to look for its its -- -- -- because its way higher than that -- growth is nonexistent.
GDP now is negative.
I mean if this isn't an economy that's in need of say some -- Hitler spray.
I don't know what it's up.
I mean I'm telling you weren't big big big trouble dear aunt my spring of course is that it is that spring everyone's getting in shape Vijay Singh using it to yeah -- right yeah -- -- I think they wonder so that's answer your question to answer let's get some on the this -- got an idea I mean it.
May not be a great -- something when you know what if we're gonna throw money we might as well throw money to give people exit you know skills and teach them something to further their employment are help them and assess that like.
First is giving them mandates and -- -- you know more and more handouts -- so how do we -- about having -- got a reporter talking about that today going out -- west -- tacking on how you get people into the fracking industry because that's where the jobs -- -- you go to college right now and you study engineering and -- studied of these jobs that are available you come -- -- actually have a -- how to we direct them in that direction.
All my more maybe more assistance to where you can get them directed -- give them the training -- have subsidies on that got costing money Harris that I out.
Melissa -- mean you can have -- is the subsidies that some.
They create and -- issue more into that direction and pay and those people if they're gonna get the -- like that are paying back into the tax system so it.
Refinance itself by wind.
Subsidies being -- that it comes back into asked my way of taxes when they start their job yet American turning back into the -- content.
DM and and David this is a tough one given where we are right now -- the politicians were stuck with in Washington I mean you heard the congressman.
Before you tapped me to call them all bunch of monkeys and I sort of almost pounced on that.
Given what given that and they can we are doubts.
How can we grow the economy right now.
The only bit of -- -- that I can give you is that we're -- to have gridlock for at least the next two and probably the next four years that sounds bad but no not congress.
Our founding fathers wanted -- -- what what what's called factionalism in the Federalist papers because they figured if politicians.
We're busy fighting HI there it meant that they wouldn't be -- in new burdens on the on the economy and if you think like I do.
That nine out of ten times legislation means bigger government.
Then it's good that we're not gonna get anything now in the long run.
We have this giant problem with entitlements we have problems we need to fix that if we don't we're gonna wind up like Greece on -- -- -- gridlock forever.
But I'm in favor of gridlock compared to Obama's first two years until we got that -- stimulus obamacare.
RA yeah I think that wraps it up I think early on that that you guys are fantastic bring you didn't get some deer at my spraying will be out that -- --
