Stossel on Unemployment Report

" All right well reacting to today's dismal unemployment news. President Obama says the new Billy signed extending unemployment benefits for twenty weeks we'll be a big help to those still unable to find work take a listen."

" Now it's important to note that the bill I signed it will not have toward deficit that is fully paid for and so it is fiscally responsible. -- built on a recovery act that sort of saved -- created. Over 100 over one million jobs and will lead to even more in the weeks and months ahead."

" How is that possible our next Katz says it isn't the numbers just don't add up joining us -- the newest member of the Fox Business Network. John Stossel and even look at at the numbers why don't they head out. How could you spend more and say it doesn't add that the deficit. And maybe you can -- created some government jobs for example. But how many gaps that going to cost us when inflation happens or what we have to pay for these jobs. And even old house admits it can't tell the difference between a saved job or. Created job. And they had these ridiculous surveys maybe they create jobs in paperwork but one woman sold nine pair of work -- for 900 bucks to the corps of engineers. The -- stimulus money to pay for the boats -- she filled out the forms and she said. Why created nine jobs that's nine pairs of work food film that'll be for not authorized."

" Yeah there's a lot of confusion over how to innovative White House essentially saying to get somebody raising -- take a fraction of that worker and count them that at towards upstate right so. I don't think any government agency tracks just never know right jobs they've."

" It basically says just trust us everything we're doing is good trust us after things like Katrina and what FEMA did there. -- government has just a terrible track record and yet -- solution more stimulus they keep doing more. FEMA. Reminds me that -- Fannie and Freddie now say they're going into the rental this since day. Don't want to foreclose and so many people -- going to let them stay in their homes that have been coming landlords they're becoming a landlord. Why is that good idea we already have 3000. Public housing agencies in America what bureaucracy in this huge. Fannie and Freddie now they're going to go into that business what kind of track record they have FEMA when it. Went into the housing business put people in trailers after these hurricanes that they can't get him out. Plus -- buy a trailer for 35000. Dollars FEMA spent 70000. Dollars and one case more than 200 now portrayal. And public housing what kind of record. Has that it. You've seen the video of them being blown up these were projects fit in Chicago. Mayor Daley said. This is the future this is what we're going to do to take care. Their crime -- they're falling apart because the government can't maintain them properly and they blow them."

" So -- it isn't a problem then that it's a structural problem they had in the US government's wait and wait to focus on housing as an economic turnaround."

" Kind of move forward for the United States now. I would certainly think -- bet."

" Help blow air into this bubble. But the arrogance to say that we're going to solve all these problems where the magic politicians here. Feeling pain we can't have a recession will pour more money in there. Well and that's what's coming next the government the people are being forced into their corners. And the folks who say that stimulus works as well it's not working now because we haven't spent enough. We need more we need a stimulus to worth three or four and then all the special interest groups instead of finding ways to innovate become more productive. They spend their energy going to Washington a lot. Because when government is huge in giving out billions of dollars -- soccer if you don't."

" Yet and the weak dollar you know all that money goes into gold with a heart unproductive assets like art in -- But Democrats continue exhibitions with some productivity numbers today right."

" The ache peaked at his story saying productivity is going up. What a bad thing for workers because companies won't hire if they can get more work out of there. Current employee. Productivity has gone up in the past that the same time we have created. Twenty million new jobs that slope of the -- and I think we have grass state go together that's when. Employment it goes up at the same slope of the line with productivity because when workers are more productive money is freed up. -- invest elsewhere to make more profit and that leads people higher. More workers and I think well some people are afraid of the productivity figures they say now that did these companies -- slim down when we come out of this recession this contraction they won't be hiring back to new local workers because they're used to the slimmed down version. But they would use that money to find new things to invest in and that will create. The object that's with all with that was that logic that went behind trying to stop supermarkets for running samples when they first came out some. States passed laws against sales because we can't put the small stores this. If we didn't have productivity we should band refrigerators and put the -- I cannot -- this price."

" Just headlight -- worries you the most what's so what is on your mind when you wake up at 3 o'clock in the morning. As you probably do sending worry about a lot of things but we weren't a lot of things what worries in."

" Amounts the spending what is going to do to our future and our children's future and and that we're not. What made America prosperous was limited government -- in individual freedom and we're not winning the hearts and minds on that argument. Government keeps growing and when you've got. More Americans getting stuff from government than paying taxes I can see why they will keep voting to get more free stuff do."

" Do you think that the government help that create a bubble in housing because all those people piling in on like government support to buy houses. Created a housing mania and really blew up the bubble."

" Of course they said. And it's true that if people own a home they're more likely to take care of it so we're going to help people get in their homes but to encourage people to do -- with no down payment. It says distort the market to unnaturally. That's what a bubble list social engineering and now it's happening again is as people say we should get even more people we should loosen lending standards again we're hearing that from Barney Frank. Saying that we should loosen -- lending standards once again. It's happening all over. Well -- let me read a quote from Barney Frank. From 2003 now that long ago Freddie Mae and Freddie Mac are not facing any kind of financial crisis and the more people exaggerate these problems the less we will see in terms of affordable."

" Out and tell why how do what information that he had been it to make that statement it would be based that statement on do you think. No bigger a little of the books or just listen to them in testimony. Telling them everything was okay."

" Probably listening to Franklin Raines tell him this is great everything is okay and is he qualified to look at the books even if he took the time. It's too late John is it is there's still time to pull back or we too far down the road to serfdom. I fear we're too far down the road to -- but the one. Thing what is certain mean by the way of being controlled by the state being served for -- they are either free or your not free. But other countries. Are going to blow up before we do because they're demographic problem. Is even worse than ours may be we will learn a lesson from when they fail. John -- so great to see job thank you very much to Saint John thank you."