Deciphering the Presidential Debate: Jobs, Taxes, And The Deficit

Jeff Macke has Wall Street's take on the showdown in Denver
3:00 | 10/04/12

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:



Skip to this video now

Now Playing:


Related Extras
Related Videos
Video Transcript
Transcript for Deciphering the Presidential Debate: Jobs, Taxes, And The Deficit
Thursday October. A fourth hello everybody I'm -- -- -- in New York jobs jobs jobs it was a recurring theme of the presidential debate last night. And now this morning we have new jobs number joining me with his take. On the economic aspect of last night's debate of the read on these new jobs numbers is Jeff MacKey co host a break out on our -- apple finance. Good morning -- You let's dive right in and start with the debate that began with the president claiming -- Romney wants trillions in tax cuts that the country just can't afford here's a -- -- central economic plan calls for a five trillion dollar tax cut. On top of the extension of the bush tax cuts that's another -- and dollars and two trillion dollars in additional military spending that military hasn't asked for. Countered saying that this is not true who would you believe -- but we do want them. What everyone's kind of fact checking these things -- it's not term paper you're not writing he says it's not equals MC squared. This is a debate it's all about capturing the tone and tenure today it's we got spinning going on later I think -- -- counter that's not true. Was rather good they're stymied the president. And I think that's the master I'm sure that those numbers are off a little bit I don't think Romney's tax plan has been thoroughly laid out. So it was kind of -- misstep -- just start that way about a president. Now on the other side Mitt Romney faulted President Obama. For failing to cut the deficit and here's a portion of what he -- President said he cut the deficit in half. Unfortunately he doubled it. Trillion dollar deficits for the last four years the president's put it in place as much. Public -- almost as much debt held by the public as all prior presidents combined. So it is isn't fair criticism given the tough times this country. Not really you know what we should be deficit spending are not willing herself money is not a huge problem in the -- -- the economy -- weak. I don't think reducing the deficit was really the goal that sent -- percent of GDP. The deficit as is large it's ever been some constructive there I'm not sure on the tax side or -- side but you can't have -- -- -- But right now I think spending little more going into little more tactic can't give us kick start makes more sense and cut back. I write so let me ask is that the general consensus seems to be that Mitt Romney was the winner of last night's debate from a Wall Street sampling. Which candidate do you think had a message that resonates better with brokers and investors. I think that it was all Mitt Romney last night to be honest tonight ice into my votes -- -- -- -- -- most compelling and still wide open I I want someone. Was really going to be an advocate for people who don't have jobs out there I didn't hear that last night but I think from a brokerage and Wall Street perspective. It's a horse race again I think we're pricing and a little bit of an Obama victory now people have to rethink that because frankly you know Ronnie got back in the race. But right RE -- Tomorrow will in fact be the last monthly jobs report before the election but this morning we got the weekly jobless numbers they -- 367000. New claims up slightly from the prior week. It is more likely to be citing this number on the campaign. Mr. I it's got a Mitt Romney and the jobless have to start of the national disgrace any thing. That was two week we've got people -- dropping out of the economy entirely we've got people dropping out of labor force as a percentage. Of the total population people not in the labor force right now is as high as it's ever been. That's that's just not go ordered -- a national tragedy I think Obama's the onus is on him to really try to push the idea that he has a plan to improve the jobless rate. And Mitt Romney's got the numbers just -- -- list. Look at jobs jobs are nightmare right book book that's going to be attendant what we have gone ahead looking ahead to tomorrow what do you think we'll see what happened -- and -- planet rate. You know the rate isn't -- thing and and we talk about this before and it's so -- and it's really hard to describe it. People dropping out of the labor force -- -- someone who hasn't worker and look for work in a month. That's the number to look at jobless rate to be gifts of president if that fell under 8%. From where I'm sitting which is a sort of judgment flowing -- -- how Smart I think that basically you just want to see that that more people are participating in the labor force has -- opposite. Right -- right indeed now in a switch gears quickly just this morning FaceBook. Has surpassed the billion user mark even critical of the company in the past as this sway your view at all. Not even a tiny bit I have no idea what a user is I think on the user and on the country's -- -- in. I had. No idea -- these emails and it's like here -- a drug -- is that however allowing users don't expect. Values. The great escape and I get -- sign on. Your computer if you look at a screen you count as a FaceBook user it shouldn't be great news even if that is the case a billion people that -- -- That's about 12% of the entire world at that point your growth opportunities disarm Iraq -- those British. Rights are right but it sounds like they're trying to make some inroads selling these new ways of promoting yourself to your friends at seven dollars a pop apparently you can. Get your -- for the -- -- your friends pages. That's awesome yeah promote yourself -- -- for a second box in a new friend. Now we define your friends people that -- defined -- people who like you and your friends in real life. To give them seven -- you can paid for people of click yeah -- -- exactly predict what I want not to go my new friends in midtown about I. It is. -- -- that one last -- it's really yesterday's news that we didn't get talking yesterday a new study says baldness. As a sign of power. For a man we -- -- from a personal perspective I agree or disagree. Not every man I. About whether -- can pull -- -- you. I. RA man can. We agree you can -- and let's say one -- look at the Dow right now. About about 35 sorry Jeff -- thank you so much. Thank you.

This transcript has been automatically generated and may not be 100% accurate.

{"id":17395835,"title":"Deciphering the Presidential Debate: Jobs, Taxes, And The Deficit","duration":"3:00","description":"Jeff Macke has Wall Street's take on the showdown in Denver","url":"/Business/video/deciphering-presidential-debate-jobs-taxes-deficit-17395835","section":"Business","mediaType":"default"}