curious to see if the big event will produce any support for the plan. he s been trying to push it for a while, and not enough people have been fighting. sandra: live from the white house. we have the econ panel coming up, and larry kudlow will have reaction as well. jason ferman will be an interesting guest. a smart economist, university of chicago, worked under the obama administration but still his view that in order to lower prices in the midst of all this inflation, that we should spend more. his latest tweet, build back better with the rising prices. amazing, can t wait to talk to him. john: the president goes back to the well on build back better, but all indications build back never. joint military drills underway in belarus, estimated 30,000 russian troops are gathered.
thought. the vexing thing in labor markets right now is there is still a lot of workers on the sidelines. yeah, the participation rate still pretty flat. we saw wages rose by .4% up almost 5% from where they were a year ago. but when you balance that with or against the inflation, the increasing cost of groceries, of gas as well, less impressive when the cost of everything else is up. absolutely. you have tight labor market so workers are getting big raises. those raises are not as big as the inflation that their experiencing. and so on average workers are falling behind. it varies from sector to sector. leisure and hospitality have gotten big meaningful raises. but overall until this inflation comes down or wage growth comes up, it is still going to be challenging out there. jason ferman, thank you so
you wonder what is going to happen to the democratic party in the future. because at this late hour, if they could not get together on this, what is going to happen as they head closer and close towards the midterm elections vm they have to prove their gove governing majority and they have not yet been able to do that. gloria borger and margaret. things are moving quickly. here is a plan. we have to go back and say that is not a viable plan any more. see you later. for more on today s job s report and what is happening on capitol hill, let s bring in jason ferman. jason good to have you. especially in this moment. considering the conversation we just had, why can t democrats get this done as soon as there is a potential plan, it is out the window. what do you see?
they never emphasized, you know, what this is going to do for you rather you know they re talking about these imaginary 3.5 or 1.8. talk about what s going to do for you for the constituents. and please, that s all i can say. please. eugene robinson and john holloman, we ll have brownies for you next time. thank you very much, really appreciate it. coming up, jason ferman, he says the reconciliation bill democrats are negotiating in congress may be the last time democrats have to advance their agenda for a very, very long time. that s next. that s next.
democratic chair of the house budget committee suggested that democrats could take up another reconciliation bill next year to expand on what they may pass this year. jason ferman served as the chair of the economic advisors told the new york times the problem now is this may be the last train leaving the station for a long time that could be five, ten, 20 years before there is an another shot at a lot of these issues. joining us now is jason fuhrman. professor of the practice of economic policy at kennedy school. he served as chair of the counsel of economic advisors during the obama administration. professor, thank you for joining us tonight. what do you mean five, ten, 20 years? how could there possibly be that kind of blank space. look, lawrence, most presidents get one big fiscal