talking about healthcare.gov or trying to promote some of the progress that has been made, and that s a pretty powerful visual to see when the website is not operational. so it appears just really in the nick of time for this press conference that will not happen. yeah, hold on for a minute. the president getting ready to walk out. i m sure the economy will be among the top issues the president will talk about in his opening statement. danny boston is joining us from georgia tech university, the department of economics. these numbers are pretty encouraging, economic growth in the third quarter. the dow jones industrial s record high numbers right now. what do you think? have we turned the corner? is the u.s. economy in 2014 going to be strong and robust? it will be strong and robust. what it appears is we have actually entered a new phase of the recovery in the sense that we re getting sort of coordinated progress moving the economy forward. in the past, we have had one sector movi
flowing into the economy. kept the interest rates low. that s not the case now. money is flowing out of the economy. and if we default, those interest rates will go up because it will be a competition to get the credit. what happens to me? what happens to you? me, me, me, why do i care? what happens to you, your interest rate goes up if you want to refinance a house, you have to pay more. housing has been driving the economy forward. it s going to slow that down. you want to make a retail purchase, could be an automobile, could be, for example, a refrigerator or anything you have to finance, the price goes up. so bottom line is, you and i have to pay more. if we have to pay more, we spend less. if we spend less, businesses get less money. that affects everybody. more people are unemployed. professor danny boston, thank you. appreciate it. now, quite a turnaround for
breaking down the july jobs report this hour. i want to get to t employers added 163,000 jobs in july, much better than the 95,000 that economist also predicted. the unemployment rate rose to 8.3%. the latest political spin as president clinton and mitt romney weigh in on this report. go beyond the numbers to find out what the report says about the state of our economy. we are also going to see how wall street is reacting. president obama and mitt romney did not waste any time giving their take on the jobs report. romney is on the campaign trail r he is in vegas. president obama had a meeting with middle class families at the white house. romney points to the 42 moments with unemployment above 8%. he said the jobs report is more proof that the president s policies are failed. well, we continue to have 23 million americans out of work or have stopped working for look or underemployed and see job numbers bounce around month to month to month butno question that we now have 42
panel to talk about aids. and we are talking about jobs, j j jobs, jobs, and the employers are not hiring enough to bring down the latest figures. you see that 80,000 new jobs were added last month but the labor unemployment rate remai remairemains 8.2%, and that is because of the jobs added in may. it is a different picture from the jobsarlier in the year. now president obama and mitt romney are talking about it. our mission is not to get back to where we were before the crisis, and we have to get back to what has been happening in the last decades, because jobs leaving our shores and we have to struggle to fight for. now is the time for america to choose whether they want more of the same and whether unemployment over 8% month after month after month is satisfactory or not. it does not have to be this way. america can do better and this kick in the gut has got to end. i want to break down the good news and the bad news of the latest jobs report. we are joined by danny