Coming Up on ‘This Week’ Summers, Cantor on Jobs and The Deficit
It’s the economy … the White House turned its focus to jobs this week and Sunday I’ll talk with the President’s top economics advisor, Larry Summers, about how much more economic pain the American people will endure and how long it will take to replace millions of lost jobs.
Is the President’s latest jobs plan enough? Or will mounting deficits hurt the economy more?
As the GOP looks ahead to mid-term races, I’ll ask House Minority Whip Eric Cantor about what the sluggish economy means for Republican contenders Summers, Cantor, only on 'This Week.'
Plus, our powerhouse Roundtable: George Will, Former Bush Counselor Ed Gillespie, Arianna Huffington, John Podesta of the Center for American Progress and April Ryan, Chief Washington Correspondent for American Urban Radio Networks.
We’ll look at the President’s historic Nobel speech. Talk of war while accepting the Peace Prize brought Republican accolades, but will his Afghan policy cost the President liberal support? And as liberal hopes for a public option fade, what will the final health care bill look like and will the Senate deliver it by Christmas. That, and all the week’s politics, only on 'This Week.'
See you Sunday.
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Rick Santorum's Full Speech at CPAC 2012
The GOP (Cantor etc.) always seems to get Religion ie (Fiscal Responsibility) only when they are in the Minority– When in power they rubber stamped everything Bush wanted, and are at least 50% responsible for current earmarks.Their misplaced War in Iraq ,tax cuts for the rich,and deregulation of the financials, surely drove the economy over the edge.To me they have no Credibility, having become obstructionists only. Representation does not mean saying No to everything the opposition proposes.However both parties need to recognize the main problem causing our jobs situation today– That is, the Change of America, from the worlds manufacturing powerhouse-to its largest consumer base. China and India(among others) have replaced America as the Worlds manufacturing power base. Our Trade inbalance is unsustainable.We are bleeding cash to our own ruin. We have allowed other nations (under the lie of Free trade) To artificially devalue their currencies(China), to subsidize their exports(Canada China etc.) and to manipulate pricing (ie Price fixing) through production limits ( oil and gas ) by Opec. We have become the fools who champion free trade, while manipulated, business as usual, goes on unfettered throughout the world. Only 46% of us pay income tax the rest are either too poor or too rich to pay. Something must change– I believe we need to enact a 10% VAT on all imports. Producers should pay for access to the greatest consumer base on earth. Free trade is anything but free with all the subsidies and manipulation that is currently going on worldwide.Don’t give me the same old Smoot Hawley rhetoric either–Since we are not a large exporting nation- why should we fear trade retaliation? Its a different place, a different time, and big problems( giant debt and job losses) recquire Big Solutions. Until we recognize our predicament – that we are Consumers,and no longer producers, we will continue to bleed dry, in a slow death. Our trade deficit, as well as our continuing Govt. deficit, will in time,lead us to the brink like Rome. We also need to reexamine our role as self appointed ,unpaid, world cop.Its time for the Politicians to analyze the problem-face the reality, and come up with solutions. Just saying No is unacceptable.
Posted by: brian | December 11, 2009, 10:57 am 10:57 am
It’s a shame that George Stephanopoulos is not aware of an article by Lee Fang, which appeared in the Huffington Post, November 21.
According to this article, Eric Cator hosted a job fair at Germana Community College, and 30 of the organizations participating in that job fair got fund from the stimulus program. These organizations Included the Culpeper County School system got which $ 4.1 million, enabling them hiring 7 new teachers and helping them save 700 jobs, Grand Canyon University, which got $ 14 million on Pell Grants, and the Orange County Public Schools which got $ 340,00 and is hiring 7 people.
Half of participants were from the public sector including Dept of VA, CIA, FBI ,Army, and FAA. Some of the big ticket winners in the public sector included the Department of Defense with 83 projects totaling 75.7 million in stimulus money and the Culpeper Army Recruiting center, which also got stimulus money.
Cantor used the job fair to denounce Obama’s economic stimulus, even though the job fair would not have been possible were it not for stimulus funds.
Cantor’s behavior epitomizes the hypocrisy of GOP Congressmen. Time and time again, they denounce the stimulus, but yet they are first in line to take credit, when stimulus money funds projects in their own districts.
It would be interesting if George Stephanopoulos would actually bring this subject up.
Posted by: William Joseph Miller | December 11, 2009, 11:55 am 11:55 am
re: jobs….Great news here in Oregon ! GE announced yesterday it will supply wind turbines for the nation’s largest wind farm. $1.4 Billion deal.
The utility Southern California Edison has agreed to buy power from this project for 20 years.
The turbines will be assembled in Florida with more than half of the parts (measured by value) being made in the US. Yes we can.
Posted by: CenterOne | December 11, 2009, 12:54 pm 12:54 pm
George Please Think It Over You Belong In Washinton Or In Charles Gibsons seat BUT not GMA
Posted by: Jeffv | December 11, 2009, 12:58 pm 12:58 pm
This administration with it’s out of control spending will destroy the dollar, and whatever is left of the economy. Blaming Bush is lame, when you are running 1.5 trillion dollar deficits…..which are triple of the previous administrations…..
Posted by: the_centrist | December 11, 2009, 2:33 pm 2:33 pm
Associated Press:
“A bipartisan coalition in the House voted late Thursday to make it easier for corporations to engage in complex derivatives trades without government restrictions, eroding the reach of proposed regulations to govern Wall Street.
Democratic attempts to toughen the legislation failed.”
Business Week:
“Even as job losses in the US mount, employers have stepped up the hiring of skilled workers from abroad, according to data from the US Citizenship & Immigration Services. The acceleration in recent weeks has put companies close to exhausting the 65,000 visas allotted each year for foreign hires under what’s known as the H-1B program. Some 61,500 visas had been used as of Dec. 8, and the last visas are likely to be claimed within weeks. Once that happens, companies won’t be able to use the program to bring in additional workers until October, the start of the government’s fiscal year.
“The numbers are surprising, considering the state of the economy,” says Ron Hira, associate professor of public policy at Rochester Institute of Technology. “With 15.4 million people unemployed in the U.S., employers should be able to find qualified workers here.” The H-1B program allows employers to sponsor skilled workers from overseas for up to three years, with the possibility of extending for additional years.”
So how’s that Hope and Change working for you?
Posted by: Jenn | December 11, 2009, 4:54 pm 4:54 pm
Interesting how libs always place responsibility for the economic crisis on the repubs. How bought the community reinvestment act which all but forced banks to grant loans to people who could’nt afford to pay them back and led to th ecollapse of Fannie and Freddy. Republicans tried to end these practices but were overruled by dems. Dems took over congress in 2006. Am not trying to defend Repubs but lets keep th efacts straight.
Posted by: Willie | December 11, 2009, 9:13 pm 9:13 pm
The biased media largely ignore the implication of the high level of immigration on unemployment, earnings and the environment. This is true of the current discussion about jobs programs. 125,000 Visas are issued every month for foreign workers to work in the U.S. The numbers of these Visas exceed the number of jobs created by the massive stimulus program. The Obama administration has even reduced work place enforcement from the low level of the Bush administration. An estimated 8 million illegals are currently working in the U.S. In the little work place enforcement that does occur the immigration rarely deports the criminal immigrants. Obama is not fulfilling the reposibility to enforce immigration law.
Posted by: merchantilist | December 11, 2009, 9:24 pm 9:24 pm
The truth is, even if you put all this hyper partisan talk aside. Americans are worst off today then they were a year ago or two years ago or 3 years ago or 4 years ago or 5 years ago…well, you get the idea. Obama’s vision for change is passionate but it was wrong and bad for america. I believe the president will be a one term president because americans can not afford another 4 years of obamanomics.
Posted by: cowen | December 12, 2009, 10:00 am 10:00 am
Bring them jobs back here.Put tarrif on imports and open the factories.
Posted by: Omar | December 12, 2009, 11:50 am 11:50 am
I think it’s really cool and fair that “This Week” allows ONE Conservative to sit-in on the show.
Posted by: Ron | December 12, 2009, 12:41 pm 12:41 pm
We’d all like to get by with lower spending, yet the cut taxes & cut government approach of the Reagan/Bush years has been given 3 decades, to deliver on the prosperity it was supposed to create — saw a cool site; Balkingpoints ; incredible satellite view of earth
Posted by: rf373 | December 12, 2009, 2:46 pm 2:46 pm
If you actually thought that this economy was just a temporary thing and the Obama/Biden administration coming in would be the end of it. You’re either naive or just plain stupid!
Posted by: JV | December 12, 2009, 3:14 pm 3:14 pm
Posted by: Jenn | Dec 11, 2009 4:54:37 PM posted: “So how’s that Hope and Change working for you?”
Are you implying that the increase of US corporate hiring of foreign workers is somehow THIS President’s fault?
The use of H-1B visas have been building for decades, propped up by both parties. For example, in 2005 due to an accounting “mistake”, 10,000 more H-1B visas than authorized by Congress. And, in 2005 Congress had already added 20,000 H-1B visas to the 65,000 already mandated !
But here’s some good news: In February 2009, as part of the stimulus bill signed into law by President Obama, banks and financial institutions were LIMITED from hiring H-1B workers unless jobs were first offered to qualified US workers.
So if this action indicates moving toward government control over H-1B visas, then yeah, it’s working for me.
Posted by: CenterOne | December 12, 2009, 5:44 pm 5:44 pm
Change is the substance of NOT continuing the Reagan/Bush policies on Lower Taxes for the wealthy, “trickled” down to the rest, while they were paying higher taxes, destroying the Middle Class society that has CARRIED AMERICA’S economy for many, many Decades. What were they thinking! Now did it work, it has been 30+ years and LOOK what has happened.
Posted by: sara | December 13, 2009, 6:37 am 6:37 am
Cantor like most republicans ,have never cared about small business. so listening to Cantor is just that same old republican crap.. we americans are sick of hearing from the party of NO >>> :)
Posted by: Gary Davis | December 13, 2009, 11:15 am 11:15 am
this round table today is a joke there is 3 republicans ,1 for black minority, 1 democrate. so to keep the show alive .. George has mostly republicans with George Will as always the leader . this is becomming more of a platform for the party of NO !
Posted by: Gary Davis | December 13, 2009, 11:28 am 11:28 am
George keeps bring back Hufington ..?
all she has to say is like any republican ( put the democrate president down)..
please find some people to be on your show that will use open thought and not just republican idiots.. she sounds like a spoiled brate
Posted by: Gary Davis | December 13, 2009, 11:36 am 11:36 am
makes me sick no one would actually say the problem with the health cARE is ,aslong as the insurance industry pulls the strings of congress . we americans will not get health care reform .. that simple , no one wants to talk about our government ( mainly the republicans ,,will not go up against the insurance companies profits .. if you take the large profit out of insurance and make compatition with a government prograk ..just like social security .. a program will open up fair options .. but not as long as people like george will have the ability to us fear and threats ..
Posted by: Gary Davis | December 13, 2009, 11:50 am 11:50 am
Mr. Cantor…where were you these last 8 years…in a closet? Do you remember that your party was handed a surplus which mysteriously disappeared during your 8 years leaving us in the worst deficit since the time of Roosevelt. We have nothing to show for the money spent except a war we did not need to be in losing too many lives needlesly. We have no health care for all and we are fighting to keep the economy from going down the drain thanks to your administration. At least what is being spent now is for something and we will see a result in the end. All generations spend more than we should and we all have left our children with problems so let’s get off the leaving our children our debt problems. If President Obama were to receive some support in any way or shape like Bush did, so much more could be accomplished. I don’t know why you continue to say the public does not want health care as I marched with 700 here in Georgia who want it and desperately need some form of health care. Most of us prefer the public option in case you are interested. I am so tired of the constant negativity to our President and the lies by the talk show hosts and distortions. Too bad so many who listen to them don’t have the sense to check things out on FactCheck.org or other organizations to see just how much they do lie. Many hate the government anyway and are happy to hear these untruths as it makes them feel better about their hate. You know the kind of man he is and what he wants for those who have been neglected for so long. I know that if (God forbid) you get back in power, many of these things will be brought back up again and you will take credit for them. Ideas which have been brought about by this President. I was once a proud republican but now I am an informed Independent and a free thinker. Thankfully, I will never have to sign a purity pledge or carry signs about hanging our president like those I saw at the Palins’s campaign and at the tea parties. I did not think you were like that but as time goes by, I have my doubts. Inciting these fringe groups is not a wise thing to do and I had hoped you were one who could lead the party away from this hatred. I see you are not. You are not a free thinker but a party person which saddens me. Oddly enough I respect Lindsey Graham as he does give the president some credit from time to time and he did vote for Sotomoyer against his party’s wishes so he still has my respect. While I know he disagrees with the President on things, he still can see some good in him which makes him the free thinker I thought you were. He may not be the prefect president but he has kept his word in many instances and that to me is important. I was proud of him at the Nobel Peace prize award as he faced everyone with his beliefs and did not back down in front of people just to say the right thing. And for the first time mentioned the fact that our soldiers have done more to keep people safe all over the world for many years and people should remember this. About time they got some credit.
Posted by: talmag | December 14, 2009, 7:50 pm 7:50 pm