SECRETARY UNDER PRESIDENT BILL
CLINTON AND PROFESSOR OF
ECONOMICS THE UC BERKELEY.
HIS LATEST BOOK "WHO RIGGED IT,
HOW WE FIX IT."
BOB, YOU ARE ONE OF THE SMARTEST
PEOPLE I INTERVIEW.
AND CONCEPTUALLY, YOU UNDERSTAND
SOME OF THE BIG PROBLEMS IN OUR
ECONOMY AND OUR SOCIETY.
BUT I WANT YOU TO HELP MY
VIEWERS UNDERSTAND SOMETHING
THAT’S NOT ALL THAT CONCEPTUAL.
885,000 PEOPLE FILING FOR
FIRST-TIME UNEMPLOYMENT
BENEFITS.
WHICH MEANS THEY ARE NOT THE
SAME 880,000 PEOPLE WHO FILED
FOR UNEMPLOYMENT BENEFITS LAST
WEEK OR THE WEEK BEFORE.
SO, AS MUCH AS DONALD TRUMP IS
TRUMPETING THAT WE ARE PUTTING
MORE PEOPLE BACK ON THE PAYROLLS
THAN AT ANY OTHER TIME IN
HISTORY.
THESE NUMBERS SAY OTHERWISE.
>> THAT’S EXACTLY RIGHT, ALI.
IN FACT, WE HAVE, RIGHT NOW, THE
WORST UNEMPLOYMENT CRISIS WE
HAVE HAD IN THIS COUNTRY,
PROBABLY SINCE THE GREAT
DEPRESSION OF THE 1930s.
IT IS FAR WORSE THAN THE GREAT
RECESSION OF 2008-2009.
IN TERMS OF THE NUMBERS OF
PEOPLE, BUT ALSO IN TERMS OF THE
EXTENT OF THE DAMAGE.
THE HARDSHIP.
IT’S NOT JUST A MATTER OF
STIMULATING THE ECONOMY.
IT’S NOT JUST SIMPLY A MATTER OF
GETTING THE ECONOMY GOING AGAIN.
IT’S A MATTER OF ACTUALLY
PROVIDING A LOT OF PEOPLE,
MILLIONS OF AMERICANS, WITH
DISASTER ASSISTANCE.
DISASTER RELIEF.
SO THAT THEY CAN ACTUALLY
SURVIVE OVER THE NEXT SEVERAL
MONTHS.
>> YEAH.
CALLING IT STIMULUS IS -- IT MAY
BE THE WRONG THING.
BOB, YOU KNOW, I HAVE BEEN OUT
ON THE ROAD SINCE THE GEORGE
FLOYD PROTESTS.
AND I STAYED ON SINCE THE
ELECTION.
NOW, I AM GOING EVERY WEEK TO
DIFFERENT PLACES IN AMERICA AND
TALKING TO SMALL BUSINESSES AND
INDIVIDUALS ABOUT HOW THEY ARE
GOING TO MAKE IT.
THEY’RE EXCITED THERE IS A
VACCINE THERE.
BUT WE’RE TALKING ABOUT NEXT
SPRING, AT THE EARLIEST.
PROBABLY, NEXT SUMMER.
AND MAYBE, NEXT FALL.
HEATHER LONG WROTE IN "THE
WASHINGTON POST," THE NATION’S
POVERTY RATE HAS RISEN AT THE
FASTEST PACE, EVER, THIS YEAR.
AFTER AID FOR THE UNEMPLOYED
DECLINED.
POVERTY IS NOW HIGHER THAN IT
WAS AT THE BEGINNING OF THE
YEAR.
A WARNING SIGN OF THE
LONG-LASTING EFFECTS OF A DEEP
RECESSION.
SINCE JUNE, POVERTY HAS RISEN
THE MOST FOR BLACK AMERICANS.
UP 3.1 PERCENTAGE POINTS.
1.4 MILLION PEOPLE.
AND FOR AMERICANS WITH HIGH
SCHOOL DEGREES OR LESS, UP 5.1
PERCENTAGE POINTS OR 5.2 MILLION
PEOPLE.
ABOUT 2 MILLION -- 2.3 MILLION
CHILDREN UNDER 17 HAVE FALLEN
INTO POVERTY, SINCE JUNE.
WE’RE TALKING ABOUT POVERTY.
WE’RE TALKING ABOUT FOOD
INSECURITY.
AND WE’RE TALKING ABOUT
HOMELESSNESS.
IN THE RICHEST, MOST PROSPEROUS
COUNTRY, ON EARTH.
BOB.
>> AND -- AND ALSO, THE RICHEST
THERE’S EVER BEEN ON EARTH.
ALI, THE THING THAT ACTUALLY, I
FIND, VERY, VERY DIFFICULT TO
CONVEY TO PEOPLE WHO ARE NOT IN
POVERTY, WHO ARE NOT IN HUNGER,
WHO ARE NOT ACTUALLY
EXPERIENCING, ON THE GROUND, A
LOT OF THE ABSTRACT NUMBERS THAT
WE ARE THROWING AROUND HERE.
IS THAT WE ARE TALKING
FUNDAMENTALLY ABOUT PEOPLE,
ABOUT LIVES, ABOUT CHILDREN,
ABOUT PEOPLE WHO MAY NOT BE ABLE
TO, IN FACT, SOME OF THEM NOT
EVEN ABLE TO PUT FOOD ON THEIR
TABLES, RIGHT NOW.
WHO ARE WAITING IN FOOD LINES TO
PICK UP BASKETS OF FOOD, BOXES
OF FOOD THAT ARE EXTENDING FOR
MILES AND MILES.
NOT JUST IN -- IN OUR INNER
CITIES.
NOT JUST IN AREAS THAT ARE
TRADITIONALLY POOR AREAS BUT IN
SUBURBS AND AREAS THAT ARE RURAL
AREAS.
PEOPLE WHO HAVE NEVER HAD TO
STAND IN BREAD LINES AND FOOD
LINES, BEFORE.
THIS IS A HUMAN TRAGEDY THAT IS
UNFOLDING.
WE CANNOT SIMPLY WAIT UNTIL NEXT
SUMMER, UNTIL COVID IS BEHIND
US.
WE HAVE GOT TO ENABLE PEOPLE TO
LIVE, RIGHT NOW, AND LIVE WELL
AND ENABLE THEIR FAMILIES TO
LIVE WELL BECAUSE THIS IS A
NATIONAL CRISIS.
WE HAVE NOT HAD, AGAIN, I WANT
TO EMPHASIZE, A RECESSION THIS
DEEP SINCE THE 1930s GREAT
DEPRESSION.
WE HAVE NOT HAD A PUBLIC-HEALTH
CRISIS THIS SERIOUS SINCE THE
GREAT PANDEMIC OF 1918.
WE ARE IN A UNIQUE AND HORRIBLE
SITUATION, RIGHT NOW.
MANY PEOPLE WATCHING THIS
PROGRAM DON’T HAVE TO BE TOLD
BECAUSE THEY ARE EXPERIENCING
THIS, ON THE GROUND.