is an issue about creating dema demand, and yet i have not heard a single specific things that republicans want to do or would be willing to do to create middle-class jobs. please just don t say tax cuts and cutting the deficit. can i just start by saying i don t know what anybody has been smoking here, but if you think this is a good economy, then we need to start all over again. what you need first of all, 203,000 jobs, i m glad that we ve got that, about you we need to create at least 150,000 a month just to keep our mouths let me finish. okay. i m waiting. what you need to pay attention to, and david is well aware of this is the labor force participation rate. what we have seen is people, particularly young americans, are opting out, they are giving up, underemployed. that means they re getting part-time jobs. it s about 63%, which is about a
when you raise the minimum wage, the people who are the first the last hired are the first fired. they are the ones who do not get the job. that is why it is the example with supply and demand that has given in the first why would you pay more to stay in a low income job, low-skill job longer. because most of the people working minimum wage are adults. that s a very. but really you re example assuming human beings are widgets. human beings, when you pay them more, you get more effort and reduce the turnover, they stay in the job longer and become more skilled. the company benefits. they get better you also save the taxpayers money. we are subsidizing low-wage workers, because companies aren t paying them enough. next, though, david, i want to ask you why thousands of young people are signing up for
here. it s down to pre-stimulus levels and heading in the right direction. despite obama. the sequester, by the way, is less than 1% of total federal spending. if we think this nation cannot tighten its belt, then we should give up. david, go ahead and get in here. what you have recited as the way to go forward is what we have done for the past 30 years, which is cut taxes on the wealthy, cut regulations on business, and it s proven to be a failure. that s where the direction that s why you ve been so opposed to the president s plan. it is a reversal of where we failed. how can you claim we have rereduced regulation, whether it s under president bush or president obama. there s been an explosion of regulation burden. that s what we are starting to reverse. we are starting to create the conditions for a prolonged expansion. it is far too weak, i agree with you on that point. we have the agreement here.
relatively low as, say, 19 weeks in a stayed like north carolina, but they can be over 72 weeks in other places. what we have found is while it s compassionate, you want to help people who are out of a job, particularly if it s transitional, but the longer the period, the less inclined they are to search and the longer they stay out of the job market, the less likely they are to get back into the job market. david, how long would you go? 100 weeks? 200 weeks? why not indefinitely? when the unemployment rate is so high that there are three or four job seekers for every job, i think it s the right thing to do. for how long? for how long? for how long? how long long it takes? as long as it takes. the point to unemployment insurance is when people can t get jobs, when they re actively looking, you have to be actively looking for a job.
. for sarching the auto industry of the the economy is doing well despite the best efforts of republican obstructionists who worked hard to shut down the government, folks with the national deficit dropping at its fastest rate in 60 years? it is time to stop the obsession with deficits and start an obsession about middle-class job creation. well, governor granholm, i m going to give the president credit for these numbers stop the presses but this nation is still woefully unemployed. he has to take credit for that, too. i know his numbers could not have come at a better time for an administration that s had a rough couple months. in the crossfire tonight, a pair of economic experts, david madlin director of the american worker project for the center of political progress. and david, let me start with you. even though this morning s jobs numbers sound really good.