tv Book Discussion on American Mojo CSPAN August 30, 2015 11:05pm-12:01am EDT
your car or the loss of a job so all these organizations to get them very interesting batch of above the poverty line no longer works. people and it made sense he plus cat food stamps -- plus would end up writing his dissertation to foresee lat food stamps -- plus look at food stamps we were spending $20 billion or independence. unsnap. $201,283,000,000,000.48 mill >> what lessons do you think ion people were on food stamps when i talk about the hovering pour that means what they took away from 40 percent of the children these experiences? in this country will spend some part of their childhood receiving food stamps. >> for that mandated system that is how the face of the middle class has changed. imagine every single person for the revision ship for living in los angeles and the international organization and empire,
add to that every man woman child living in philadelpia. with a fair number that is how many people and of people that the imperial between the ages of 16 and 25 never country and -- in order was on its way out. the country better doing so that worked differently nothing is anything to be more diminishing 22 years from the mandate system. old dropping of school, you that it has to be all in and don't read at grade level or what is interesting is they math at grade level with no opportunities no job opportunities are prol sects? kept picking up the blocks that is an anchor on our to go home. middle-class. the solution unfortunately look at incarceration we with any part of the united have 350 million people that means there is 7 billion nations and. more all of those who were in jail, 25 percent are in with the wartime alliance the united states. and the personnel was no country in the world has borrowed it started off with a higher proportion are
absolute number of children ben to rikers island and the the relation to high-school there there are latin-american states and kids in prison trying to steady high school they later to the revisionist outgrow their shoes sties - powers and with united - size to get a good nations has done to allow citizen at the end? someone who is trained to be the veto than certain things valuk ale anything positive? know the only guarantee a will not be dealt with. 75 percent of those men will be back in jail within 180 in the league makes those days. we have a fundamental decisions. problem with a reduced in this country and we cannot ignore anybotãwho was ruwe cing for president who doesn't have a part of their strategy what to do this >> thank you for the presentation. will cost as $100 billion but if you talk about the per year into the into an anchor of middle-class difference of the british development. empire and the french that one of the things that haropens all the time is just to fix education.
end of conversation i will is a huge question but it is take the other side. how good does that teacher have to b po interesting he thought of as imagine in dallas. it has 1.2 million people a global police and the and growing. when the school bell rang today in the students walked british grosso in an out the door the number of alliance not just the independent states as well people in the city of dallas because of this point the british had six separate that many walked out with no states as members of the home to go to. league canada and even india to the tent or to the shelter or to the car wherever they had to go just were independent members of how good the teacher has to the league even though india be their teaching the young did not meet the person to go through 16 requirements of self governance. hours of homelessness and soap they operate as a block feet -- food and security we so the french are in have a problem that is
multilayer he cannot solve competition with that so the education problem with the race to the top if the people sitting in the class france and britain have different economic are hungry and scared and homeless. attitudes. bridges everywhere not a one of the things we have to regional power. so operates and tends to favor with the liberal trade do is face the world because our borders is where 80 percent of the purchasing policies and at the time power now lies. 92% of the economic growth is outside our borders and 95% of the consumers are that is the main chapa outside our borders we have territory may think of them a home game and the away game we have to play. talk about a few ideas you will not here during the as colluding looking 1918 debate because now you were getting those to of never created a job in their life through 1921 there so how could they possibly tell you how to do with? anglo-french relations are terrible. as like doubling the
industry like that will solve the problems or double the minimum wage we've done it seven times due again to >> should we stop? find out if it feels good and everything else will adjust pricing, l sending yes. my book is there. [laughter] thank you. pricing, spendincin now the nt says he wants to create time and a half i am [applause] all for that but those are necessary but woefully [inaudible conversations] insufficient to solve the problem of the middle-class if you really want to know what to be scared about is the a unwer i don't know. but as the endless shining sea of opportunity or is it more like the infinity pool where the water spills over to redistribute? i will come back to that so
what do we need to r duuild the middle class? [inaudible conversations] every time we come up with the new idea we come up with a tax? we should treat american infrastructure development bank not a single subprimal owner derivatives only ssanding the infrastructure of our country. everyone agrees if you go to >> good evening. i am a director of the china or india tsa wire you library and please excuse my voice the twins came home leebing the greatest of the structure of the world with a gift for daddy wither away? yesterday so first of all, a here is how you pay for it bit of housekeeping if there we shoaxd commit to spend is a fire go out the front as trillion to bk tld the door. infrastructure you need just pushed me aside i will go down with the ship. $300 billion and you get that frooblevery public and please turn off your pe cellphone. union fund and we will put your people to work every
1 percent and hedge fund and say now was the time put money into this you will it gives me great pleasure to introduce our speaker bene set from the infrastructure of today it with the historical is time to invest that is parallels with that word 700 billion me have to borrow. now you go to every american that is so off-putting from the original meaning from business to say now was the time for all good people to the public place so what it come to the asãof the countr-g pony up and invest in means to day what it yourself we will engage the american people of rebuilding the conceive to be to discuss infrastructure and the duty is they are multiplier jobs social and political issues. two weeks ago we had the good people from newport through becomes another job phnom show a documentary on becomes another job you richard holbrooke. create american momentum we with the intent of the have let it fail we have become a divided nation and redwood at its founding. architecture of defied that
so as they continue in that vein with the rise of this mea un a lobbyist is a multibillion-dollar industry with hundreds of thousane year -- spiffier with the k of professionat if and think tas of s many have endowments' bigger than some small 18th century that we might colleges and deeply invosufed. call a political class so with every element of policy formaxation in our nation we can break this with the that middle-class of course, is of importance to infrastructure development create democracy ben and i urins of . we're sitting here today with 4 million jobs open and suspect it is important today. available and ready to hire. i will not go on and on the they do not need to be created but filled. how are we doing on the talent management side? we will create to the are great million computer thrust of the work to remind jobs if they are filled typically three people are hired at the same time how
us of what is important all problems facing us today and redoing on talent management? no one is creating that it is the call to conscience anywhere this year we will graduatectur0,000 computer and clarity of thinking of penience majors this sounds these problems just today i was watching a video talking like we will be 800,000 jobs about philanthropy. thank you very much for short what other country in coming. the world but to gradailte from college with no idea what you will do? and to welcome peter in china if you have a stem class at an early age they kiernan. [applause] >> thank you very much. manrture you to tell you how welcome to the pre-, of you can have a great job so pre-debate. [laughter] they don't end up a 700,000 there are so many great people that i respect so jostruc not filled. said we will have been 10 years a million and a much this is the speech but a conversation. half college graduates i was told to do not come 6,000,002 few high school gradailtes to know we have a with this book during the election of. crisis of college completion
[laughter] i want to come not in exactly the middle because i today 92 percent of part-time students do not have been frustrated for gradailte in four years. can you imagine a business those notions that are tried to tolerate a failure rate and retried even to get the like that of 92%? we talk k aout free college simplest things to come. but the crisis of college i publish this book completion is a big part of deliberately right now not the problem 70% to want to intending to interrupt your do training but the me thority preempt but be that as they do not finish that is may. i am a lucky man for many reasons as some of my many something that does not require the genius of job creation other than getting the skilt if necessary to fill blessings but what i count those jobs. is above my first job. immediately in every state when i was in college can create an office of sanit-g you imagine so we could have it at home when your doorstep before the evening [laughter] we had a trillion dollar expansion plan and time
news came on television. after time i heard we didn't set the of height of watergate era with a far have projects that were shovel reatãto the a more senior reporters unwer is? you get show already in the beginning of world war ii we leaving me tutorial as produced a little over something i came to love 3 million cars in this what of the people of hudson country the leading car production in the world. in new york. the then fdr said beer out of the car bericiness we did not make 150 ford became as i have the small daily histories to find the one aircraft manufacturer others thing if i just gave an made the lakerty ships the acquaintance. government is an immense power but it needs to focus to contribute to society and on the vital powerful issues in the process that he we waste our time on no unense by questioning the middle-class the one of the
worked many hours but with things they think we should do everything in our power life itself the role of to encourage bericiness creation everybody knows the individuals far more than cradle is new business we the party platform with how shouldn't double the capital gains rate by unthis of ing yon yoinfcreate a business and in society operates. three or four years to employee people and sell all or part of your bericiness you are entitled to a giant tax n/a narrative or even those break this is building the middle-class if yoinfwant to that were steamrolled by circumstance for fell the mant out those who earn too robch fine by me but we have discharge of the mosaic better than anything going on in our society progress 20 democrats and republicans toward this book the story i have 8t heard one anything froobla single person running of a person of consequences and the role they play to o tlarng robcre. begin my conversation so if re m iãca00middoda awponhipnd a
it is about a kiss. when we consider the middle-class problem it is true the of global issue as a young boy a to walk around on a sunday morning to travel to a devastated garden and they're hanging in the fruit trees were those smoldering in the sun. and held him close to the feet of the patriots and ordered him to kiss each muddy flood. as the boy whispered he said sun, that is the smell of
courage. that is a taste of liberty. that kiss as lender of in my mind for a long time. >> in then give their own kids >> i will give you one with 50 million americans. example. if you look at all of asia except japan, the growing >> 15 million americans. >> [inaudible]>> hello new york. amount of money they spend on health care is 4 percent of their gdp. we're almost five times that amount. if i am sure of anything that the chinese gain more middle-class members one of the first things they will want for themselves is quality health care where is
the company now 100 miles from here they just raise $200 million around with so i left us in the middle this tragedy -- strategy is of the kids. that is a terrible thing to a tumor blasting business we do. [laughter] kiss interrupted. so they come back and can will take our technology to china because china will be the biggest country with the you imagine 700,000 wearers biggest economy the most of a purple heart? people with cancer anywhere every adult living in rhode in the world and we will island that is how many build the business to bring middle class quality health people came back. care to those folks in china. the more we feed the growth of the middle class of the i will interrupt one second other countries the more we will grow. so let's take a minute to think how many cars out of fix the sound system and 1,000 there are in the then i will carry on. united states. so come in to do what you the answer? have to do. it is all yours. 450 hominy in germany? 500 for every 1,000.
how many in india? [inaudible] ten. china? thirty-two. these giants are just getting warmed up. they are poorer than we are and much, much bigger than we are china will become the biggest economy with a large capita so they will have a low economy but if you will let those people but they will have the richest economy in though world the only way forward middle-class to survive is focused on the problems at home to deliver the services testing? i am talking about as the innovation nation we a understand this if we want to give the world's biggest kiss to the middle class
that is what we should do. thank you very much. excuse me. we have day welcome home. it is a pleasure. what do we do for the first [applause] time in our nation? we pull as one >> view our game there is still some time before the government, business, law bankers insurance cos game of their questions i politicians everyone reaches would be honored to answer out that we go a kiss to the them. people who sacrificed for us. and as a result what happened to? >> you didn't say much about we became the world the a standing debt of the country. superpower. from the standpoint of that has risen over the last manufacturing because it was generation. smoldering and how do we but you added the respond? development baying should and we rose to the occasion resolve the infrastructure by borrowing so what about it was easy to find the
middle-class because there were large the white, what the impact of the crushing people learn to we ticket weight of the outstanding debt of our country? alpha house with $90 down or >> ironclad you ask the question. walking into your first house without putting a penny down. here is one of the problems reeducated and brought them we have to borrow 40 percent home reeducated the soldiers of what we spend every year. as if they were true citizens what was the that is not something i would recommend to sustain progression of mike? because the amount is so big only one country in the economy was 200 billion by world that can provide that kind of lending and it is in japan or germany there is no 1,945,300,000,000,000, 1950, place else but china. a 500 billion we were on a roll. if we fall out of love with we hit the trifecta by the china we cannot finance our growth we're in a code mid-1950s the largest dependency with china the agricultural provider in the world. only way we could possibly live is to keep peace with
china to figure how to reduce borrowing but we do with the largest economy how have an educated you have to be efficient it is the hillary have lists -- handled that we don't know closest thing to eternal life is a job in government to. [laughter] we're not the city is to say why is this growing? it and we built a new europe it is never what do we cut with the own middle-class. in business you put the and in 12 years basically we addition on the house you went from manufacturing don't do your teeth fixed. superpower from one day went but the trouble is everyone owns a but nobody really owns it. to work put on a white with the infrastructure bank ag guess it is better lead caller we evolved so quickly chartered by deliberately made it outside the purview was trying to pull themselves together in the '60s 70 percent of the of the federal government as you possibly can because the government is great as some families have stayed home parents, typically mom. things and not hawked at the others so to put 800 million but by the late '60s social unrest and the? into the cylinder what they know about solar technology started to form an aside of over another is nothing
this neo class -- there clueless but they middle-class masterpiece by spend it because they cannot the '70s double-digit resist the notion to control everything from soup to nuts inflation and interest rates sawyer sure there will be and unemployment brought on federal oversight to your by now one but to commodity prices the second of which question is central i am not sure until we have a new they got all the attention leadership will be prepared but the first was far more to make the tough choices to fix that. pernicious with a lasting >> what is the effect of impact of the middle class. we shifted from a gold raising the gas tax? >> it hasn't been raised standard to a gold exchange standard unsettle the and since 1993 we have a little dividend but it is falling all the world of economics apart because they are and tell people started to look without really meant. responding to way saturn -- that means you could exchange gold with the said a new competitor called united states like saudi greenback and the dollar and arabia when there is a supply issue would curtail in no time the dollar surged but not so much pressure is as the currency of choice.
over $100 is in the mid-40s in one of the things that nixon realizes they take the now america doesn't show any particular interest but the dollars in europe to save the want to exchange them people have gotten a benefit into gold what was developing was a run on the so i get along all testy they say you can do this bank and that was us. because it will destroy the economy cannot add $0.25 a so without spending a second gallon because it was talking to any trading partners or frankly anyone created initially to fund in the free world we dropped infrastructure but one of the gold standard imposed the challenges that our tariffs on imports and froze government thinks about the obvious i'm involved with wages and for a brief shining moment it worked and tell it didn't and it was an robin hood with the charter unmitigated disaster the school in the bronx and at night the kids were hanging out on the steps on the three of these crushed us. what happened to the money coldest winter night. we had no idea why. supply? most people never looked in would you doing? the 34 years before we the reason? created this called exchange standard it only doubled in there was no place else in
their community they could the 34 years after it go to get wi-fi. increased by 13 fold it in there is a digital divide freely it one dash leave that to a revolution that we 2008 reprinted money like it have to make that was confetti at a wedding we infrastructure than just the keystone pipeline there is were creating an economic more than to rebuild the colossus with serious flaws roads but to make sure every pointed directly at the kid in america is digitally middle class. connected if not we will be on the wrong side of that i most people also missed the slow crash october 87 but do think increasing the gas tax is reasonable is seems to glorify people just like they are horrified at a from the mid-60s through 1982 the market lost 25% of quarter of a percentage point of interest rates in its value and what is september. striking about that if you include inflation which was as americans what does this double digit, 66 percent of say about the state of our economy we year at zero the market value of real terms was lost one of the worst crashes in history interest-rate is? it costs nothing to borrow largely went unreported. and inflation is nowhere? that slow crash play doesn't
our economy is not tell ronald reagan and paul volcker came into the scene overheating in the notion now at long last when the our recovery is so tender we cannot stand a quarter of a economists, but the name for something you know, they have no idea how to fix that even stagflation inflation point rise in interest rates? than we are not focused on was run away but the jobs the right things frankly we for going nowhere. should raise the gas tax what do they do? because sometimes the prime rate at 21.5% that infrastructure bank is a little too innovative but in is 2 percent a month for china they just announced most borrowers in 1980 was they are creating their bank in 50 countries have joined over 1% per month the economy was crushed. but what they determined the some of the first juror britain and germany france only way to bring the fever under control was chewed so china is willing to be more aggressive than we are. nearly bankrupt the country. but i steer clear because i so they raised the prime hate the notion the only way rate higher and higher to pay for it is to raise crushing manufacturing and taxes. there are better ideas but automobiles and chrysler it isn't terrible.
went bankrupt the building trades and everything that required borrowing in order >> what do think of iran? to grow. by 1983 the fever had broken >> you should never criticize another person's deal. [laughter] in the form of structural but here i go i know john redistribution. what basically happened kerry. inflation dropped at 3% for he is a friend of mine. i am no john kerry he was the problem is for the sent over with the job to middle-class that was get a deal done the red line turns into a peeing line relative to inflation into i don't know. the only alternative is they because relevant inflation will go all nuclear war so did not go down. we should buy a bad deal to middle class meant health care college of new class -- create in arms race in the middle east and will get a new car and a new house more people who are allies with the belief their of ours wanting to borrow. children would be better off than you were and that was i don't think that is the deal we should do or has to crushed. how do they respond? do with our relationship first they put mom to work with israel even though they by the '70s 43 percent of are our closest ally but
women were working. basically to move rand from at the time only 10 percent had degrees by 1960 over back to the premeditation. 60 percent were working and i have friends in the oil one-third had decreased to a new league a complete business outside the united reversal of umbrellas and states and they're describing iran as an entrepreneur were candy inflation kept climbing in store they cannot wait for the sanctions to be lifted real wages were flat and to spend $100 billion there. family after family kept asking what do we do? how do we make it possibly . . and how can we survive? then it occurred to them them, barrault. in 1957 there is only a handful of creditors tenures later there were 100 million credit cards and by 2007 there were 1 billion and by a 2008 consumer debt was at $12.75 trillion.
to dave reface an entirely different middle-class and global competition is so acute, that is where you have to look by the way. do not pay attention to the domestic policy the solution is over there. most people know that china and india have fought well over 1 billion people in population so go down the list way down his united states that much is well known but in the last five years changed is pronounced now there indonesia brazil pakistan and bangladesh all with the economy is smaller
than ours growing faster than ours. if you look at italy and spain and britain and france there 60 million germany's 80 million japan 127 million and shrinking how much? in the next 30 years they expect the population will shrink by one-third. there are whole cities in northern japan without a single woman of child-bearing age. the face of global competition is changing. they're using our playbook when you go to these countries part of the strategic plan the care and nurture and feeding is the centerpiece for a new middle-class. there will be 1 billion new
members in the next 10 years outside the borders after that 1 billion more that is 10 times more people than the american middle-class in 20 years outside our borders. one of the things that strikes me when i think of the united states if i pick one word when we are at our best is frontier. frontier of the west frontier science and it is feeding the middle class of all of these countries that have middle-class life as a centerpiece of their strategy there is not be enough growth inside our borders to feed our middle-class anyone who toeshoes so has not of the basic math the solution is over their progress the same time look here wages have continue to stay flat.
194373 productivity doubled from the oil embargo through today productivity has increased by a twice again the real wages have increased 4%. where has all the money gone? it has been a structural distribution and we have not been told every month we get the jobs report and the jobs data but the most important pieces left out, the market value of a job. we are creating entry-level low-wage jobs and that is a big challenge the face of the middle class has changed dramatically lit to make up of 45 million poor people entirely too many but the