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-- now the big story today we've been talking about it those awful job numbers way lower that expected self.
Does this mark the end of the economic recovery -- are we headed for another recession.
Where can we get ourselves back on track let's bring in now Geraldo Rivera the host of Geraldo at Large on the Fox News Channel these with -- -- near the plaza is always good -- of the day here near a gorgeous day here in the market.
Not so happy about the jobs numbers and I know you told me.
What -- and I know he's devoted to crush when they hear about I'm Geraldo is losing money in the market that's a bad -- -- Areas today lost a ton of money my biggest one day loss in in quite a few months ended it stung.
And you know it is tied to this stagnant economy that we have in the fact that we're not creating more jobs and I just -- to say parenthetically you know I'm no expert in auto bailouts.
But it seems to me thank goodness Obama and the administration acted when they did what we lost all those.
Those our auto worker jobs and then in the midwest that that that particular time.
Here's the debate and it may be a double dip but I at least they saved some of those jobs at the time we really crucially need to do here's the question that I talked at the march -- about this from Chrysler earlier today.
Did that debate is essentially it.
Big deal because both GM and Chrysler went through bankruptcy right we have bankruptcy court set the I thought I -- down -- a stock I know very well right so we could have allowed them to go bankrupt.
Restructure and come out of that without government help some say they would have been able to do that march -- says -- It was a very low probability that would have happened is when told.
He seems -- very competent executive today and he's paid back most of the money so I doubt -- he has a real incentive to misrepresent.
It's true feelings economically.
I I just think that you got to give credit where credit is -- I think thank goodness.
The auto bailouts only causing a civilian parade it's not well in the grand scheme of things it's not real money you know not when you have a fourteen trillion -- -- I guess that's true in some ways now you just said just you talked about the stagnant economy talked about the fact that you're losing money in the market ever a lot of people are today the market is down again on these disappointing jobs figures.
So maybe finally we -- job every couple weeks you can -- and what we -- have this millionaire's tax is time to raise taxes on the on the rich in the country.
-- I've -- I'm assured now I'm positive you finally given up on -- idea I don't want to slow the economy down right now around the -- Other kind of I agree I reality it's time to it right now to do it but let me and as a -- -- there is great and it's and -- it on I I.
My priorities have shifted slightly and let let me just take one minute to explain we've talked some sense I I -- -- -- the restoration of the of the -- Clinton tax rates.
Is crucial long term.
But I also think that it ever was talking about the the pending deficit.
And particularly in entitlements and Social Security being -- I would like to start my new program.
With the payroll tax and and this artificial ceiling that we impose that that really.
Penalizes the middle class in favor of the rich why.
Is it only a 106.
Thousand dollars of income that it's tax the first quarter -- 6000 dollars -- why isn't it.
That's that 200000 the one million the one billion dollar and again -- that it doesn't know what you wanna start this now well now I -- I think everything has -- It should be paid to the unemployment rate in the nation let's say went on -- -- -- that the 7% that's a good time where you can begin to think about.
The revenue side of the deficit equation as well as the entitlement cuts that -- because you always want to think about.
Just when the economy's recovering that's not the time you want to.
Cut it there and say all right we -- -- slow down this recovery just when we got ourselves back on our -- I'd like to see what we're not into doing that -- I agree and I I'd like to see the town of the Republicans in congress that reward deficit hawks now are they going to suggest.
Cutting back programs in this period of of real uncertainty -- -- I think that this whole conversation has to be put now in the context.
If we don't get jobs it's not about that the 2012 election.
It's about the suffering of the average Joseph working man and woman in this country.
There is a melee as there is this threat of a double that they really is scary -- Tanya.
I thought I -- optimistically.
That we were on track.
And I know that we did add some jobs thank goodness.
And with so would have answered them the consecutive month that -- -- -- seven -- I don't -- but it is very very scary and there's so many people that I know.
That are really -- I had a way that seems I mean people with I -- my daughter just went to the promised ninety Gregor has been going off to college is done and why you.
You've got to be a millionaire to send their kids and -- -- or these private institutions that back.
And there are so many -- -- -- now are making -- choices that are different than there -- there -- you know what they would.
Like best for their children yeah because of the financial constraints of the current economy.
Now I know that you write about it.
All that and I think the headline from this interview it is the fact that after months and months.
On the day -- been -- show here Fox Business 11 o'clock.
A role bill has come around how well she could drag my feel awful.
Good to see you and -- my car and watch -- -- over the weekend of course on the Fox News Channel.
Geraldo at Large jets started at 10 PM.
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