Doesnt Create Wealth News Today

Next time youre in college and talking to these other students that love socialism, next time we have a big test, were going to average out the scores and everybody gets the same score on the test. see how hard everyone tries next week. well just -- it will slow down the work to where everybody gets an f in the class. theres no point -- socialism, theres no point in working hard. it doesnt matter. >> and also when kids talk about socialism, they havent studied it so they dont understand. you mak...

Sudden theyre realizing that government doesnt create wealth, it has to come from someone, and they didnt realize it, but theyre supposed to be one of the suppliers. >> liberalism is suddenly expensive again. now people are discovering it costs money. a lot -- maybe in other ways. >> i think not just the millenniums but all americans. when you look at polls are returning to the national distrust, the healthy distrust of government, that i think is really our tradition and has served us well. in ...

Bill: that was sarcasm. what is his responsibility as president. >> two things. we bailed out wall street and bailed out big corporation. they never had it better and not doing great. >> on his watch. >> hiring people and investing. president obama will make sure we now invest in things, manufacture things and make things because that is how the middle class got built. we need to do that in this country again so the middle class can earn a living to support a family on and buy things and do thin...

Democrats worry about the distribution of the golden eggs. democrats seem to think spreading the wealth more equally will create more of it. after four years of weakness it might dawn on them it simply doesnt work that way. fairly uncomplicated, before you can spread the wealth you have to create it. the government does not create wealth it absorbs it. private sector creates. bill: we heard from both. mary catherine, where does it go? >> obama when he talks this offers indictment of his own poli...

Research found the first two years of the obama administration, mean net worth of households in the top 7%, upper 7% of wealth, rose about 28% while the mean net worth of households in the lower 93% dropped by 4%, which the president has been highlighting in the latest road speeches. also, associated press, gfk has a new survey showing four out of five americans, 80% will live near poverty, will experience at least joblessness, welfare reliance, near poverty in their lives. what about this? the ...

Economy means a surge in tax receipts. that takes pressure off the federal budget because theres enough money to finance both federal spending and other things while keeping tax rates low. thats how things were during economic recoveries of the 1980s and 90s. you could make a budget deal, there was enough money to go around. the booming recovery of those days have given way to the rebound we have seen since the so-called great recession ended more than four years ago. yet president obama is fixa...

The government doesnt create wealth, it absorbs it, the private sector creates it. >> we are getting ready for the next round of what could be standoffs, the debt ceiling and battle back and forth between congress and the white house. do you think republicans now are going to use that lever again effectively? >> i think theyll try. the danger for them is that if they carry that all the way, brinkmanship to extract spending cuts or other spending reforms, and it results in government shutdown, th...

You can only dream about. >> reporter: despite budget battles, president obama plans an eight day vacation on marthas vineyard. while house republicans are on recess until september 9th, both insist they can avoid government shut down. >> theres ample time to make sure it doesnt happen. we dont need more self inflicted wounds. >> reporter: the lack of urgency, despite two studies that show the economy is deteriorating, with the rich getting richer, while the poor are struggling even more. associ...

Their kids their biggest problem is i guess they are not buddying up to people. buying the right people the expensive bottle of wine and taking them out to dinner and wining and dining and say, listen, i need your help on this bill. >> yeah. >> sean: i need a provision here. can you help me out? >> yeah. >> sean: thats whats happening and they are all getting what they want. >> thats exactly right. if middle class americans could hire lobbyists, their lives would be better. its a severe subgame ...

Their kids their biggest problem is i guess they are not buddying up to people. buying the right people the expensive bottle of wine and taking them out to dinner and wining and dining and say, listen, i need your help on this bill. >> yeah. >> sean: i need a provision here. can you help me out? >> yeah. >> sean: thats whats happening and they are all getting what they want. >> thats exactly right. if middle class americans could hire lobbyists, their lives would be better. its a severe subgame ...