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Take it I'd listen we're just days away from that June jobs report -- the company from Washington is former labor secretary -- talent.
You know we we would talk about this all the time but if we saw where the Obama administration.
Sort of blinked if you -- -- with respect obamacare.
Does that give you any sort of hope that maybe maybe just maybe.
They can make some changes to the way they approach the overall economy and if so what what what what they do to help get the job -- -- think today's report that the administration is pulling back.
On rolling out as client.
It's affordable health care act indicate how they are realizing the regulatory burden.
They are placing on the American economy and how difficult it is to actually implement this law whether -- can be implement that at all.
The best thing to do actually is to -- and to repeal which they won't do of course.
But the regulatory burden and the confusion and the uncertainty.
Of this not only this legislation but many others is creating a tremendous amount of burden.
On the economy which is impeding job growth -- -- You know -- -- here today we're looking at a jobs number possibly a 165000.
Dollars sixty -- -- That's been about the average for the last year month to month.
Give or take a few thousand depending on the revisions.
But how much do you think job growth has been hurt since the health reform act was an accident -- ten.
Is not only the health affordable health care act it's also all the other regulations and all the other a lot that have been -- including Dodd-Frank which is basically.
We can liquidity throughout the whole banking system -- commercial after the small community banks.
It's very important that the government provides the writing -- through which businesses who are employers.
Who are very often -- small mom and pop shops to have uncertainty and to know what faces them in terms of taxation regulation.
As they look to the future because of the uncertainty and -- the burden that they know what's coming down the -- Employers small mom and pop shots are not hiring.
Net new jobs created every month.
Is not enough -- about 250000.
Net new jobs created every month just to -- even with population growth.
So then let's not let's carried out a little -- let's say nothing changes.
The same policies remain a place business remains frozen if you will.
What what happens to the economy we're not growing the jobs that you say we need that to keep a sustainable that what happens to the economy when it's a start to roll back.
What the economy is struggling to recover -- there are cycles but still it struck the economy is struggling to recover.
But what is happening is that the administration's very policies.
Are actually -- The recovery of the economy you know chairman we have a very sharp recession as we saw in 2008.
He kind of bounces back really quickly.
We are not seeing that and the reason for this so lol rebound.
Is because of the uncertainty of the economy.
That you launched -- new taxes that have been.
Implemented and the great uncertainty again what's gonna happen to affordable health care act the regulations.
How all these things go to implement it.
If at all so employers are and that whole pattern.
They don't know what to do.
There has been in their cash reserves because of the uncertainty they're not sure how much you taxes aren't they -- -- -- other cash or about.
Insurance programs that they are our -- A lot of -- -- dead while confusing there's no doubt about it.
Madam secretary Monica Crowley here nice to see -- -- you know what to your point when you look at the Reagan recovery -- into the exact opposite of everything President Obama has done Reagan.
A limited government he cut taxes he rolled back the massive regulatory state.
And that's -- month to month we had between 500000.
And a million new jobs created.
This is the exact opposite do you learn from Reagan or president Obama's totally I -- a lot ideological and will know not go down that road.
Well unfortunately this is a government this is an administration that really does believe that the government is the font of all solutions.
Until they believe in big government and they believe the government actually creates jobs but -- -- seeing a two thirds of the net new jobs created in our economy.
Are created by small businesses.
And the uncertainty to increase tax rate the interest taxes increase regulations.
Are putting a damper on their future plans and that's why employers are not hiring.
It just seems so.
You know Ed it's tough for me will we -- talk about this all the time -- that we we know the world we live and and yet it's it's not sustainable was no way in -- world as much the most amazing.
Engine of prosperity ever created in the planet should be left in this condition and it seems like if we don't at some point.
Do something make it better to keep -- going it's gonna fall in on itself and I mean that feels like it's gonna get worse.
And the human tall as tragic you know over for about 40% of the unemployed have not been unemployed for more than 26 weeks.
Our unemployment rate dropped a little bit to it -- to seven point six remembering that from 2000 I want to 2008.
The average unemployment rate was five point 2%.
But even still.
-- unemployment rate dropped a little bit primarily because of a number of discouraged workers who are still outside of the workforce.
If you -- people.
Who are unemployed who want to work addict who are employed and also who -- -- what additional jobs but they can't find full time jobs if you include.
That whole universe.
Of -- potential workers.
The actual unemployment rate in our -- actually worse yet -- that like 14%.
There's no doubt that's the -- or I was tragic death of 14% -- all of the permanent underclass of formally.
Proud American workers who can't find a job all of it a tragedy secretary -- thank you very much we appreciate your time this morning and --
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