in my opinion though obama administration has fundamentally
misunderstood what's wrong with the country
uh... it's not
hey if we give the banks all a bit more money than they will have enough money
to hiding
give out loans to businesses in in the businesses will that have the money
uh... to create jobs and roll trickle down on our heads eventually maybe
hopefully that's uh... republican way of looking at things of course that's the
way that obama administration
has largely handle economy
with intersted did not understand i should say
is that we've had a great criterion of the middle class
and that other poor have got larger
a by the way the rich have also gotten but much more wealthy
and would that what they're calling alan hourglass economy where the militants
grace gave me a sense of the terrible numbers in terms of poverty justice two
thousand i mean it was a pretty into it as a nine uh... the poverty rate is gone
from fourteen point three percent
the fifteen point six percent answer fifty one one percent
and then the number of people in poverty is gone from forty three point six
million
all of the forty six point two million
largest number
of people in poverty
in the fifty-two years that we've been recording those numbers
but it doesn't get any worse than i believe it doesn't get any worse is the
worst in fifty two years
so how about the other side of the equation
level but i would be for you know that action let me tell you to do some people
think hey you know what poverty i hear all right we'll all time mats over
raided delhi really poor
it turns out that that are in the country
for a family of four the threshold is
twenty two thousand three hundred and fourteen dollars
if you think it's a really easy for a family forty along a twenty thousand
dollars okay annuity the poverty line is misplaced i think it's exceedingly
difficult living that make sense to put it there by the way the median household
income has add had dropped another two point three percent twenty ten so sir
thank you all the swatches the ones in poverty were all losing rations
except
the top point one percent
which is you you see here
take-home
twenty four percent
all the wealth in the country
mass at the top one percent that's the top
point one percent
so somebody's you online and a nice
now elissa by the way it but there's a simple machine that said the commerce
look at
they give you a sense of that
that the quality renee quality you have been the distribution of income
the u_s_ used to be a terrific shape there
and that's why we have a great middle class
we have now dropped
significantly in the genie index
uh... and we are now at the same level as
the philippines and mexico
how we do it has that working out for us
this graph is gonna show you
exactly what's gone wrong in our economy in the last two years
we'll show you jobs and just look for inflation and corporate profits adjusted
for inflation over last week was reading the last two years
well let's look at perry jobs here
uh... there there on the left nothin the brunner
it all in all wear
no longer whether all all your good corporate profits
they're doing fantastic
nearly fifty percent better than they used to be two years ago
this is that this is the graph
business shows you that when we gave all the money to the banks
and when we do all the favors for the corporations
they were lying
they were never gonna create more jobs but anybody with half a bit of sense
could have told you that there are legally mandated to make as much profit
as possible that legally mandated to create jobs
whistle when you have a republican proposal doctor michael baden
administration
that hey let's do favors for the big business and then hope that they do the
right thing well that is advance foolishly naive and at worst
perversely complicity
they knew they were to create jobs org dot they were sold
polish as the bank that they might just give gillian stewart rob banks somehow
jobs will
uh... improve
well let me n c_n_n_ for a result of the jobs improve
but those corporations take all that money home yes
now the amount of cash it that top corporations in america have is rising
from nearly two trillion to three trillion
decided they don't have enough money there's a left on money
but they don't like rain jobs so that because they think america's a bad
investments
they create jobs anywhere they created in china and india and elsewhere and
then they turn around the u_s_ embargo papa you give me more tax cuts all year
jobs are right around the corner we promise or brahma we promise to do more
tax cuts
and or related jobs plan proposal by president obama
more tax cuts fifty six percent proposal isn't tax cuts
hasn't worked out for us