spending, stimulate private enterprise in order to create jobs. exact opposite of the president. bill: what is so fascinating about this, they re talking about issue number one the economy which by all accounts determines who will win in november. and quite likely who wins in ohio. that is why this number is so important. 386,000 first-time claims, jobless benefits. that is going in the wrong direction, stuart. yes, sir. it is a very high number. if we re in recovery mode, recovery from recession you re not supposed to have nearly 400,000 people filing first time jobless claims. that number is far too high. in recent weeks it has gone up not down, up. bill: if it reaches 400,000 that really is a marker. that would be a headline. yes. bill: are we going there, stuart? it is very possible, bill because all the news recently on the economy shows it is slowinging down whether the overall rate of growth, the jobs picture, retail sales actually declined in the month of may.
declines, your borrowing power decline it s. yes. greta: if that declines, you are not getting the loan and you can t spend and rev up the economy to help the economy. it s like, almost like a domino effect. that s exactly right. the d.c. policy has been to make the net worth feel better because spending is tied to net worth and so much of the u.s. economy is about spending. i say, don t do any of that. i say to d.c., do this instead talk straight to the american people. no more knee-jerk reactions and auto pilot, thinking let s rev up the spending. basically, you want to have straight talk that this is a marathon, about the debt. no more banana peels thrown underus companies, in terms of regulations and rules and taxation. we re going to bost the services and the jobs picture. that will help spending, not reflating housing and stock
declines, your borrowing power decline it s. yes. greta: if that declines, you are not getting the loan and you can t spend and rev up the economy to help the economy. it s like, almost like a domino effect. that s exactly right. the d.c. policy has been to make the net worth feel better because spending is tied to net worth and so much of the u.s. economy is about spending. i say, don t do any of that. i say to d.c., do this instead talk straight to the american people. no more knee-jerk reactions and auto pilot, thinking let s rev up the spending. basically, you want to have straight talk that this is a marathon, about the debt. no more banana peels thrown underus companies, in terms of regulations and rules and taxation. we re going to bost the services and the jobs picture. that will help spending, not reflating housing and stock
yes. betsy. so on that theme, i think that what we know now is that the fed has been promising us low rates through 2014, and we now know that is going to expect the economy to stink through 2014 and not because they are making some commitment not the choke off a recovery by raising the rates too early but because the economic forecast is because we are not doing so well. so what we need is them to actually make that promise that they will keep rates low and not choke off a recovery and not tell us that they see bad times ahead. is there anything that can be done in the short term by the administration, unilaterally without congress that could help the jobs picture? i ghaes tuess the answer to tha no. that sis a tough situation ad not a lot of options and not a lot of things that the president
if this is what we re dealing with between now and november, it is absolutely critical for obama to make the case that, listen, last accept, a year ago, a year before this election, i put a real specific plan before congress that would have goosed growth in this country. it would have added jobs to the economy and they sat in their hands and did nothing. what the republicans are counting on, at a certain level, after three, four years after president obama being presented, people look around. they feel anxiety. there is an emotion that it is not. let s throw everything out and start over. that is a powerful emotion in politics. and it is very effective. it is happening in the moment. but joyann, even moody an it willics said if the american jobs act had passed, this is an independent economic an list, they said there would have been 2 million jobs create and 2% added to gdp within a year. right. the thing is, steve is exactly right. there is no incentive for republicans in congress