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Former CBO Director Douglas Holtz-Eakin on the state of the job market and economy.
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2008.
Joining me now to assess what these numbers mean that the state of our economy is the former director of the Congressional Budget Office president of the American action forum.
Douglas Holtz if -- great to have you with a -- Thanks -- this is these are strong powerful.
Positive numbers right so.
-- I mean this is a pretty good report we -- often see report that shows us both increases in jobs.
And declines in employment and I think more importantly increases and hours and wages so that the workers are actually getting some income some things in this in this recovery.
And -- -- -- -- I've heard a number of people today through there crabbing about the fact that you know a lot of people left the workforce.
I'm looking at these numbers I see an improvement in the U six -- in the broadest.
Number it's only a tenth of a percent but it's improvement.
In in it seems to be confirming invalidating what the market.
The stock market -- equities markets have been signaling us for months that things are truly starting to turn around in this economy you're -- But I do think it's good -- I said -- I would love to see.
Three of these enroll for these in a -- because what's really been missing this recovery has been.
The three to four month -- where everything was clicking where you've got increases in employment you've got declines in unemployment you've got some income growth.
-- we haven't we seen that yet I hope we see it.
And then it's just important remember that even with this for months of this five months of this.
What -- two years of growth away from getting back to anything that looks like 6% unemployment so we have a long long way to go and it's overdue that we get this kind of recovery.
You know the White House spokesman Josh Earnest -- administration and I love the way these these blacks talk.
Was saying that the job gains in recent months could be reversed by implementation of this question.
They're very worried about that.
Would you please relieve them of their brought this African.
They're not always look at this of that find this very perplexing -- For those tours of the term intellectual -- -- who worry of that being the government drives the economy that its taxes and spending that make things ago.
It doesn't make sense to worry about the spending cuts and have Blakely raised taxes by 200 billion dollars at the beginning of the year.
-- that doesn't add up I mean there's just no way you can he can square that so.
I think they need to go back and revisit there there intellectual foundations.
For from -- fundamental point of view our biggest problem is that we are on a debt trajectory that is harming the economy now is a great threat to the future.
Steps to improve that have to be taken.
Why steps to improve that the president refused to go along with so we're left with a sequestered but at least it's a step in the right direction.
-- -- -- -- always good to have you with us thanks so much thanks --
