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Detailed text transcripts for TV channel - CNN - 20101016:17:25:00

little protections they get from labor unions. where do you stand on this? it s grossly an oversimplification to say unions caused this problem. globalization led to declining wage scale in many manufacturers and workers across the united states and we need to become competitive. richard would say and i would agree with him many of the private sectors businesses would agree they have worked to remain competitive and we have seen some revitalization in small, mini mills. we have managed to see sectors come back where private sector unions worked with business to make ourselves competitive. what we are facing right now in the united states is a demand crisis. there simply isn t enough demand to get businesses to invest to make more stuff, whatever that stuff happens to be. that is the rational for a keynesian desire to have stimulus. that s what the nobel winning economists are saying. put together a stimulus that will create short-term demand. we of course need to make

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