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[0:43] ..." even worse. Is it another number 10000. With the Dow breaking 10000 Wall Street that banks now. Saying we've got record profits again. These enormous. Pay packages that are being announced on Wall Street. That just makes it that much bigger political problem for this administration because. All these. Funds that have added to the deficit and been lavished on Wall Street and are now being returned to these big executives. Are not creating jobs for ordinary people and that is a very poor"...
[1:58] ..." confidence and start investing again. But every economist is predicting that this unemployment rate will continue to go up before it stabilizes -- breached 10%. And a year from now Americans are gonna go to the polls and they always. -- historically have tended to vote against. The party that's in power Ronald Reagan lost 26 seats in 1982 after a huge political victory two years before. And Barack Obama and the Democrats if as now seems likely unemployment going to be over 10%. In the elections next year. They're gonna pay"...
[3:27] ..." hasn't and has advisers has taken an intern. And trying to demonize Wall Street over the weekend it was very noticeable. That. On the TV shows his advisers were attacking Wall Street. Four or. For paying these these huge bonuses and and this is a huge political problem for this administration you know you"...
[4:06] ..." which are front and center but he also was grappling with Afghanistan Senator John Kerry. Is in that country right now meeting with President Hamid Karzai for several hours last night trying to talk about the selection"...
[0:00]" This is Mary Blake WBZ Newsradio 1030 joining me ABC political analyst Steve Roberts. People always talk about late Friday afternoon news stories as to get -- but I -- Friday afternoon. Deficit numbers came out an alarming figure."
[0:13]" It's an alarming figure there -- two numbers that are really nightmares for this administration one point four trillion dollar deficit. Linked to another number and nine point 89 point eight unemployment. And the ability to deal with the unemployment to try to stimulate the economy and produce more jobs. Really is being crippled by that deficit number and so where the two were linked together and the third problem that makes it even worse. Is it another number 10000. With the Dow breaking 10000 Wall Street that banks now. Saying we've got record profits again. These enormous. Pay packages that are being announced on Wall Street. That just makes it that much bigger political problem for this administration because. All these. Funds that have added to the deficit and been lavished on Wall Street and are now being returned to these big executives. Are not creating jobs for ordinary people and that is a very poor political position opinion particularly for democratic president. More and more you're hearing this term jobless recovery how can President Obama address this effectively. Well he is at Cowen and difficult position he can argue yes we inherited a lot of the problem that's true. He can argue if we hadn't acted and spend so much on the stimulus package things would have been worse if that's true. But in the end the president does the president friends have to take responsibility. And he has to hope that. The stimulus package will produce more jobs that. Consumers will get more confidence and start spending again. Businesses will get more confidence and start investing again. But every economist is predicting that this unemployment rate will continue to go up before it stabilizes -- breached 10%. And a year from now Americans are gonna go to the polls and they always. -- historically have tended to vote against. The party that's in power Ronald Reagan lost 26 seats in 1982 after a huge political victory two years before. And Barack Obama and the Democrats if as now seems likely unemployment going to be over 10%. In the elections next year. They're gonna pay a heavy price for that."
[2:35]" You can also argue that the jobless number is a lagging. Economic indicator but that doesn't translate well once someone's out of work and how how much Ken the president do in terms of telling people which he is trying to say. Listen things are slowly getting better and in the -- in the front page of the Boston Globe this morning here in Boston there's. A poll on the Massachusetts recovery and people are fairly certain that an economic recovery is underway but they think that it's going to be like watching paint dry."
[3:01]" Yes and them. I do think the president is trying to do several things he is trying to. Be a cheerleader. And be encouraging so much of the psychological. If people do believe the economy's getting better than they will spend more and invest more in the economy will get better. Psychology is very important to them. But he's also. Taken at new intern hasn't and has advisers has taken an intern. And trying to demonize Wall Street over the weekend it was very noticeable. That. On the TV shows his advisers were attacking Wall Street. Four or. For paying these these huge bonuses and and this is a huge political problem for this administration you know you see these stories. Wherever our factory might opened with a hundred jobs and 10000 people lined up there in the statistics show that there are six people looking for every job that's being created in the economy."
[4:00]" And -- I can ask you two turning to another problem -- grappling with because he has obviously these domestic issues which are front and center but he also was grappling with Afghanistan Senator John Kerry. Is in that country right now meeting with President Hamid Karzai for several hours last night trying to talk about the selection process and they charges of of massive voter fraud and then we also have the the request by general McChrystal for more troops."
[4:25]" But senator -- trying to do is convince Hamid Karzai. To accept. The international demand for a runoff election or if not that a power sharing agreement. With the man who ran second to cars the the former foreign minister Abdul Abdullah and the point here being that. If America is gonna commit more troops and if Europe -- can continue to pour troops into Afghanistan they have to have a stable credible. Government there to deal with such as don't have that. A lot of these resources are going to be wasted and that's what senator -- trying to do is to get Karzai. To accept some new arrangements that would and reinforce. The credibility of that government."
[5:08]" And do you feel that -- politically that. The president that can sell this to the American people that obviously going to be tough."
[5:15]" It's going to be tough let three we have been fighting the war in Afghanistan for eight years that's longer than World War II. Not just a question of casualties and is not just a question of credibility it's also question of money. President Obama's ability to do so many of the things he wants to do domestically and foreign. Our crippled and shadowed. By this deficit number which is likely to get even worse in the current year."
[5:41]" That was ABC political analyst Steve Roberts Mary Blake WBZ Newsradio 1030."
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