tourist business is really going to be in a bind for a little while. neil: where have i heard this before? this an employee s bargaining chip now. neil: all right. it wasn t clear at all. the first one is he said you have to pay your people more and see what happens. john horn from annamaria oyster bar. you ve heard this before and must get your goat. the president s consistent argument has been this goes away if you pay your people more. what do you say? i sat with senator nelson one time who said pay your people more and raise your prices. when you go to a restaurant, there s a tremendous elasticity in our menus.
do other things, and there is a shortage of employees. people are looking to make more money and to bargain. and so i think your business, and the tourist business, is really going to be in a bind for a little while. and one of the things, we re ending all those things that are the things keeping people back from going back to work, et cetera. it will be interesting to see what happens. it was so nice of him to say we kept you open. wasn t that pleasant. yo, it s kind of weird, i am a small business owner, that i know more about economics than an 80 year old president of the united states. if you pay more people you have to raise all the salaries and then you have to start letting go workers so you can afford the higher salaries or you increase the price of your product which then increases inflation and that s what you re going to see. did i just explain economics 101. yes. i think i deserve a nobel prize. i have a ten page article from the wall street journal i plan to read i
worked as waiters and waitresses decided they don t want to do that anymore because there s other opportunities at higher wages because there s a lot of openings now in jobs. and people are beginning to move. people are looking to make more money and to bargain. and so i think your business and the tourist business is really going to be in a bind for a little while. joining me now, maeve reston and david gergen. good to see both of you. david, this may not have been the answer the restaurant owner wanted. you want to maybe pay your people more, he said. how do you think president biden handled that moment? well, i thought overall for the evening, he had a very good town hall. he has an empathy about him, a warmth and decency that athink appeals to a great number of people, and going into ohio and
and so i think your business and the tourist business is really going to be in a bind for a little while. what was biden trying to say here, arlet? what you ve heard from president biden in recent days is trying to express their confidence that this inflation, this spike that you re seeing in prices, is simply just going to be temporary. his argument is that it is occurring as the economy is reopening. and they re pointing to economists who back up some of their claims. but there have been very real concerns about whether this inflation would end up being a longer term influence. and what the administration is trying to do, not just kb combatting the virus, trying to set up the economy for moving ahead and growing stronger after the year and a half or past year and a half at least spent in this pandemic. and the president was also just very frank and saying that
from ioc vice president late wednesday. the other thing is i was writing you re going to the opening ceremony. as the covid controversy continues to stir sports stars in action, including soccer teams who took the chance to take the knee in protest of racial inequality. salena wang, cnn, tokyo. well, he didn t sugar coat it. president biden says some businesses will in a, quote, bind for a while when it comes to labor shortages. that s next. a here. everybody s a skeptic. wright brothers? more like, yeah right, brothers! get outta here! it s not crazy. it s a scramble. just crack an egg.