Page 28 - Rob Peter News Today

What gives people so much hope. what do you think it is? >> the change. the fact that i believe he wants to take care of us, the little people. and he understands us better. i think hes going to quit giving money to all these other countries and take care of america. >> reporter: but for melissa allen, hope is hard to find. do you make enough to get by? >> not without working seven days a week, no. ive lived here my entire life. ive lived in poverty my entire life. so theres really no hope. >> r...

Ive lived in poverty my entire life. so, theres really no hope. >> youre young, melissa. >> i know. >> none? >> every week, you got to rob peter to pay paul. ive had my electric shut off, ive had my water shut off. >> do you get a sense that people here are more hopeful now because of the new president? >> it seems like people are, but its kind of almost like wishing on lost hope. because its been this way for so long. >> reporter: her livelihood crumbled when one of the towns biggest employers ...

Days a week. i have worked my entire life, i have lived in poverty my entire life, theres no hope. >> reporter: youre young, melissa. >> uh-huh. >> reporter: none? every week you got to rob peter to pay paul. i had my electric shut off. i have had my water shut off. >> reporter: do you get a sense that people are more hopeful now because of the new president? >> it seems like people are. but its kind of like wishing on lost hope. because its been this way for so long. >> reporter: her livelihood...

>> do you make enough to get by? >> not without working seven days a week, no. ive lived here my entire life. ive lived in poverty my entire life. so theres really no hope. >> youre young, melissa. none? >> every week, youve got to rob peter to pay paul. had my electric shut off, ive had my water shut off. >> do you get a sense that people here are more hopeful now because of the new president? >> it seems like people are, but, its kind of almost like wishing on lost hope. because its been this ...

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They were going to put in one seventh each year, growing, growing -- >> thats the key, the social contract. the promise was, yes, its going to be tough, youll pay more and get less in benefits, but you saw the tape, it will be there, i wont do what everyone else has done, which is essentially rob peter to pay paul, i wont rob from the future to pay the present. >> but thats exactly what hes done. and it doesnt just end with this shorting the pension payments. the reality is that the governor als...

Saw the tape, it will be there, i wont do what everyone else has done, which is essentially rob peter to pay paul, i wont rob from the future to pay the present. >> but thats exactly what hes done. and it doesnt just end with this shorting the pension payments. the reality is that the governor also today, his treasurer said that they were going to make toughs to new jersey transit, which is a tax on the working poor. hes going to delay or skip allowing for the property tax credits, which, by the...

They were going to put in one seventh each year, growing, growing -- >> thats the key, the social contract. the promise was, yes, its going to be tough, youll pay more and get less in benefits, but you saw the tape, it will be there, i wont do what everyone else has done, which is essentially rob peter to pay paul, i wont rob from the future to pay the present. >> but thats exactly what hes done. and it doesnt just end with this shorting the pension payments. the reality is that the governor als...

Everything. >> heres whats also going on. six fewer shopping days between thanksgiving and christmas on top of that, weve got wall street houses like morgan stanley saying this is going to be one of the weakest holiday shopping seasons. >> how do they know? >> theyre tracking retail disclosures. they are pretty accurate. what we see right now are hitting the promotional panic button early? we saw kmart and toys "r" us out. now walmart at midnight tonight tripled the number of deals on walmarts o...

Well be fine for a while. this is false panic. >> my words so mr. king are simple. why would you want to risk it? thats the point here. yes, treasury is bringing in tens of billions of dollars a day but another bill comes in for veterans, social security, for medicare, for a bridge somewhere that has to be paid out and at some point the ability of treasury to rob peter to pay paul will run out. nobody thinks that theyre going to completely default on the entire whack of treasury debt. but a simp...