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It has become an ineffective. we have businesses that are not. john chambers head of cisco, juan saying today i could be hiring a lot more folks right now. i m not going to do it because i m nervous about the environment. i m nervous about regulation. i m nervous about what this administration is doing. give me a positive. he and all the big businesses therefore are sitting on their cash, right? they are working people who have jobs each harder rather than hiring new people. but let me just say this in terms of these numbers, these jobless claim numbers that we saw today. what we are seeing is census people who are laid off because the census is just about over. filing for help. we have also seen something of a decline in terms of manufacturing construction, which had been a point of progress recently, again, making claims. and finally, we re seeing people in state and local government. you complained about governments but, you know, people who are getting laid off in state and local ....
Think washington gets it. so it will be called something else. the crux teachers salaries. it is about defined benefit plans. we are seeing this all over the country, even in san francisco, san francisco, interim mayor is saying our pension plan needs to be scrapped. if it isn t we are not going to be able to fund our police force. the question is, why in the private sector you have to fund your retirement, it isn t guaranteed and in the public sector it is. cops and firemen are exempt in the wisconsin fight. the states, for years, have been acting like the tin can on the just married car. they ve been reckless. they ve got 10 a lot of money already under this administration. under the guise of unemployment help or stimulus. i have to disagree with rich. i don t think the unfunded liabilities are a trillion, ....