published the story to help distract from coverage of the russia collusion issue is completely erroneous. the retraction of this story is still being investigated internally and we have no evidence that rod wheeler was misquoted. now, wheeler also claims in his lawsuit that he and ba to you ski met with then white house spokesman sean spicer and provided him with a copy of mr. wheeler s investigative notes. here is how white house press secretary sarah huckabee sanders responded yesterday. did the president know about the story prepublication, and did he have an influence on way the story the president had no knowledge of the story and it s completely untrue that he or the white house had involvement in the story. okay. joining me now is the man we just talked a lot about, he had ba to you ski. he s the chief equity strategist at chap wood investments. i ve known ed for years and ed is a friend. good to have you here. thank you for being with me. i want to start with the obviou
didn t mean to life you hanging. auto numbers are booming. the big three car companies are all showing double-digit gains. what is driving up the sales. joining me now the managing partner at chap wood investments. good to see you. good to see you too. what is behind the boom? a number of things are behind the boom. one of them is that lower interest rates are making financing a lot more enjoyable and a lot easier at this point. when you take away a lot of barriers you can then start to create a positive environment and people are going to go out and start buying. when you reduce the interest rates which we have right now you will have a lot of financing. additionally you see a lot of people have more money in their pockets. the stock market has risen and people have more money and they have waited to buy. they are out there buying right now. this is a great time to be a car dealer. it is the end of the year and your paychecks are fatter and more money to spend on perhaps a n
well, we are on the labor day weekend and tomorrow is about labor. did you know that there is a larger percentage of americans that are actually dropping out of the labor force, not because they can t find a job, but because they don t want to try? it is the highest it has been in decades. the national labor participation rate here shows a percentage of americans who can work, but are choosing not to. because it is moving in the wrong direction and has for a longtime, it is now at its lowest point since the 70s. we wanted to ask the managing partner at chap wood investments, ed, what does it mean to our economy? it is great to see you. jaime, this is an important subject for many reasons. one is when people don t and elect not to take jobs in the workforce they are electing to take money out of the economy through the tax dollars that taxpayers pay in. it is an interesting tie to syria. the mission in syria is projected to cost on a minimum
critical. so let sok at what this could mean for your bottom line. first of all the bill as it stands right now, the one passed in the senate would end the payroll tax cut, hikes taxes on income above $450,000 a year for families. it makes the alternative minimum tax patch permanent. it also extends unemployment benefits for the long-term jobless and proposed spending defense and non-spending cuts. for a look at the economic impact, let s talk to the managing partner at chap wood investments. it seems like this will be tough to get through the house of representatives, but for our conversation right now we can talk about what we know about the senate version of this. what do you think? well, i will tell you, it is not surprising. what people don t understand, when you don t have a bill where you are addressing spending, what you are saying is we have all of these programs. how are we going to pay for them?