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Impeachment. number 1, we will split the country further apart. there s no doubt the country is split now since the civil war i almost don t believe we have been so split apart. this is going to make it worse, secondly, we have a host of issues to deal with, neil that are so serious, whether it is the debt and the deficit, whether it is social security and medicare, whether it is, you know, having selection elections that are secured. is that the sentiment shared by others in capitol hill? certainly a sentiment among republicans, we are getting into the season of budget talks and we are getting into the season of discussion, movement on gun control and now attention on impeachment, that will be the center of attention for for the foreseeable future on capitol hill, when that s happening, not a lot else is happening, it has interesting implications for the democrats also seeking the presidency that ....
All-time records, corporate profits go through the roof, middle class americans are getting squeezed. real median income still climbs lower during its 1999 peak. in that period total economic output has expanded by 24%. that means are you creating more and you re getting paid less. jobs have been coming back since the recession officially ended, but the majority of those jobs are low wage, part-time jobs. at the same time, more and more people are dropping out of the job market, labor force participation, people looking for work, has hit lows not seen in decades. i recently sat down with wilbur ross, an investor who really understands how the economy works. he s made billions in investing in failed industries and turning them around. i asked him if he thought there were two americas. i think there are really three americas. you have those more or less permanently on welfare, just not employed. something like 37% of ....
They didn t just have cardiac arrest and not give other options, stephen. paul, and all they ever want to do is raise taxes. raise taxes, raise taxes. by the way, i m in favor of raising the retirement age for these programs. when we started out these programs, people s life expectancy was much, much lower than it is today. so, we ve got to get serious about these proposals. my only point is, my goodness, if this little tiny cut is seen as armageddon, how are we going to make the really, really big decisions we all know need to be made on medicaid, medicare and social security? i know you want to jump in. it s interesting, obama when he campaigned for president in 2008 was calling for higher payroll taxes on the wealthy. he didn t do that in his budget. he did something republicans want. from the republican side, for them for anybody to complain on the republican side that, hey, he hasn t taken a step forward, it s not a huge step forward, i know. but it s a step forward. nan ....
Some prevents medicare patients with cancer from getting treatment. i think there might be movement there, but i don t think you ll see a bigger repeal there, because it s really hard to find that much money. gloria, you know go ahead. all of this has to be seen in the context of everything else that s going on that we spoke about earlier. so you have immigration reform. if some kind of deal can be cut with some you know, a group of republicans, a group of democrats, that may set the tone for something else on deficit reduction. if the same thing happens in the smaller version on guns, for example. so these are shifting coalitions. right now everybody s looking toward 2014 and what will work for them. but i think you have to look this look at this in kind of a larger picture about what else is going to be going on on capitol hill. to put a button on this, if i could, gloria. the larger picture is, do small things. it s the message over and over. obama care proved how proble ....
Think that s pretty much run its course, but onshoring is a trend, not only because i mean, companies aren t doing this just to be patriotic. they think they will make money and they realize they have to align their innovation and production to be globally kpesive. back to something richard said about the quady of manufacturing jobs. here s something, 9 out of 10 manufacturing jobs come with health care benefits. you don t find that in the service sector. by and large, even though there has been some reduction in the wage premium, there still is no comparison for folks who don t have a four-year college degree. it s about the only career path that s going to get you to the american dream, to a middle class job. and also if you locate a factory in a community, you re going to get those service sector jobs. the opposite is never the case. that s why manufacturing is important, because it spurs economic activity in other parts of the economy. like no other sector can. all right. gentl ....