Much the government takes in and how much it spends. Just one month after taking office the president vowed to cut the deficit in half. It stood then at 1. 4 trillion. This year the Congressional Budget Office puts that number at 1. 1 trillion. Progress, but, no. The president did not make good on his promise. Henry blodgett is the ceo of the online publiccation Business Insider and will cain is a conservative blogger. Henry, this is the chart you brought, the chart that says it might get the president fired. Shows the current Unemployment Rate versus the administrations predictions for we we should be, both without and without the stimulus. Either way, were supposed to be closer to 5. 5 right now. Can obama win with these numbers, and tell me, tell me about this chart. The polls suggest he can win. Hes been ahead in the polls and looks like he can win. This chart shows the Obama Administration really underestimated how bad things were before they came into office and how much the stimulus would do and as you mentioned unemployment is still way too high. What surrogates for romney has been saying, false promises all along, underestimated the depth of the crisis. Dont give them another chart. What the chart highlights is, what do i like to do, christine, premise the question. The question is wrong. Are you better off that are four years ago. I dont like the question. Conservatives use it to indict president obama and i dont like it when others use it to defend him, picking two different points in time. The truth is are we in a recovery, hope so. Recovered from every recession weve had since the great depression. The question is is it as good as it should have been . Hard to prove otherwise. Thats the right question. Is it as rapid and as healthy as it should have been . Is it the president s fault it isnt more rapid . Conservatives bring yes. I want to bring a sound bite here from ken robath who i asked him this week. Look, we keep hearing that you should vote for mitt romney because the president made the recovery worse, and this is what ken robath said. We look backwards, no, i think romneys advisers have been wrong to say that this is all his fault, that it would have been much better if he had done something else. When you have a deep financial crisis, you look at u. S. History, you look at other countries, its very hard to come roaring back. The worlds leading experts on financial crises and rehko recoveries says mitt romneys advisers are wrong. Doesnt he deserve a second term . Ken is right. It takes seven years to come out of recession from a debt and deleveraging recession. Did president obama make it worse . Heres my indictment. My suggestion is by focusing on health care, reforming the Health Care Market in the first year, he caused a huge distraction in the market and thats what set the recovery back. Well, lets give him credit though for focusing on the stimulus first, which a lot of people argued helped. You put all the charts there together. Heres the stimulus, heres the bottom and then there we come up on all the charts. Can you say, okay, would have happened anyway, maybe. Well never be able to prove it. Economics is maybe. Seen it on Business Insider. All the charts are up. Thats great. Stimulus one thing among plenty like the Federal Reserve printing tens of trillions of dollars and by the way we run that deficit you showed every year. That is stimulus in itself. What caused the recovery to happen . Economics is a big maybe. Why does mitt romney have a Leadership Vision that you think is better than the president s on this . Ill be honest, a criticism of the president is we dont know what the second term agenda would be. Does mitt romney come in on the coattails of a recovery that might be under way. A very valid legitimate criticism of mitt romney is i dont know because he hasnt given you exact specifics. I hope it would be centered around you be certainty. Not injecting Health Care Reform into the marketplace and heres where henry and i have a big agreement. Who causes a recovery, who creates jobs, do rich people create jobs . I think mitt romney has to focusing on lower taxes would help with jobs. Do rich people create jobs . They are important, but go try to grow a tree in death valley, its not going to happen. We have plenty of Investment Capital right now. The problem is not that rich people dont have enough money to invest. The problem is consumers are totally strapped, and they have debt coming out of their ears, and as long as they are working off their debt and they dont have jobs and they dont have good jobs, it is very hard to get the demand in the economy to actually we agree on that diagnosis. Its the cure im not sure about. Do you cure that cancer through investment or through creating false demand. A billionaire said there arent enough opportunities. Theres plenty of money in america. There arent enough opportunities and how do you create the atmosphere for people taking a risk for those opportunities and that atmosphere is here. Who unlocks that . And the reason there arent opportunities, consumers dont have enough money. If we did, we were able to borrow it through the bush years and the ten years before that, and now its stopped. People are deleveraging. The key thing we have to fix in this country that neither candidate has offered a solution for is how to get middle class wages rising again. A galup poll, i want will to weigh in. It shows were at highest level since late may. Confidence, you know, just two weeks and change ahead of an election is now at the highest since may and its largely driven, gallup said, by democrats and independents. Independents are feeling better about the economy. So is that good news for the president . You would have to think thats good news for the president but how revealing is it. As i said earlier, were going to have recovery. Weve recovered from every recession. Confidence is going to come back. The question is from a political perspective, did you aid it or inhibit . This chart could be in the president s favor, individual investors, of course, are pulling out of the market. Wall street is going strongly for romney. Does the Strong Performance in stocks help the president , or is it not connected to main street enough . Oh, i think it definitely helps him. If you line up the polls in the stock market, its remarkably similar. People are very much affected by it. One other chart thats really interested here. Are you better off. Look at your paycheck. Talk about the premise of over four years are you better off . This is 2000 to 2010. Average Household Income went up a buck and housing and transportation costs went up 1. 75 so youve got a middle class that hasnt been feeling the benefits of any kind of rising in the economy for over a decade. Is it too ash trar toe say four years . Too arbitrary saying a decade. Happening for 30, 40 years. The question has much more to do about an economic transition, moving away from an economy that had a full spectrum of jobs, manufacturing, to one that is more mature with certain kinds of jobs. Has less to do with president s and more to do with economies and transition. I agree with that. I would love to hear mitt romney offer a solution to that. I would love president obama to find another solution. And this is a nice way to start a saturday morning with all of the charts and you guys to talk about them. Thanks, everybody. Well talk to you soon. American jobs, american skills, american excuses. Ill rant on the skills gap and how to fix t. E, but her. Likes 50 more cash. But, i have an idea. Do you want a princess dress . Yes how about some cupcakes . Yes lollipop . Yes do you want an etch a sketch . Yes do you want 50 more cash . No you got talent. [ male announcer ] the capital one cash rewards card. With a 50 annual cash bonus its the card for people who like more cash. Whats in your wallet . I usually say that. This is the first leg of our world challenge with the cadillac ats. This is actually starting to feel real now. 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Corporate chieftans say there are 600,000 unfilled manufacturing jobs, unfilled jobs because they cant find good enough workers. They make it sound like were a nation of lucy and ethels, cant keep up, shoving candy in their mouths and pockets. Anyway, their skills not up to par with the technology at hand. Of course, that was for comedy. This is for real. There are 12 Million People out of work, and the big jobs discussion in corporate suites is the mismatch of jobs of today and the skills between todays lucys and ethel is. The skills gap an excuse not to hire . This week a Consulting Group from boston delivered a long overdue dose of skepticism t. Estimates the United States is short some 80,000 to 100,000 highly skilled manufacturing workers. Thats less than 1 of the nations 11. 5 Million Manufacturing workers. The study also concludes that Corporate America bears the blame. Employers wont pay more for the higher skills and experience they demand. Quote, trying to hire highly skilled workers at rock bottom rates is not a skills gap. Corporate america has spent 20 years rushing overseas for the cheapest labor they could find, and the current whining about not being able to find Skilled Labor rings hollow. Look, the United States cannot compete if our workers cannot perform these jobs. We all agree on that, and our middle class cannot recover if americans are not hired for these jobs. Heres what we need. Better k12 education with a better emphasis on science, math and engineering. We need programs that work and are targeted and efficient, not tangled in bureaucracy, and we need companies to invest. If you cant attract the best candidates, offer a higher wage. If you cant find the workers, then train them. Last week four Big Companies formed a new coalition to train 15,000 of our veterans to work in advanced manufacturing. General will be, often criticized as a major outsorcerer of american jobs, it will invest 6 million in the program. Well be watching to make sure this is a real effort and not just an exercise in public relations. There are 23 million potential workers for you, Corporate America. The unemployed and the underemployed. The workers are there. Its your move. Coming up its called pincer. Pinterest. Do you own a Small Business . Why you must master social media. Thats next on your bottom line. We understand that commitment. So does aarp, serving americans 50 and over for generations. So its no surprise millions have chosen an aarp dicare supplement insurance plan, insured by unitedhealthcare insurance company. Like all standardized Medicare Supplement plans, it helps cover some of what medicare doesnt pay. To find out more, call today. For a golf getaway. Double miles you can actually use. But mr. Single miles cant join his friends because hes getting hit with blackouts. Shame on you. Now hes stuck in a miniature nightmare. Oh, thank you. But, with the capital one venture card. You can fly any airline, any flight, any time. Double miles you can actually use. Whats in your wallet . Alec jr . It was a gift. Since Ameriprise Financial was founded back in 1894, theyve been committed to putting clients first. Helping generations through tough times. Good times. Never taking a bailout. There when you need them. Helping millions of americans over the centuries. The strength of a Global Financial leader. The heart of a onetoone relationship. Together for your future. This next story is essential for any Small Business owner. Your customers dont live around the block anymore. They live around the world, and their language is social media. If you dont understand it, youll be out of business. Theres facebook, twitter, pintere pinterest, google plus and instagram just to name a few. The tangled web of social networks leaves Small Business owners scratching their heads. Social media is the new word of mouth. This is how people are talking. Well, thats what im told. Im embarrassed to say i i havent believed in it. What do you think of this. Floras Business Manufacturers and sells highend wigs. The cost, anywhere from 2,000 to 10,000. Every wig comes with floras personal touch and privacy. Its not an item that you walk by and say im going to go buy me a wig. This is a very different kind of customer shop owner relationship because this is a very personal thing to buy. Its a marriage. Toyed though shes not giving a customer a makeover, shes getting one from a social media expert gary vaynerchu. If youre not on facebook and twitner 2012 2012, youre not a relevant business in our society. 53 of businesses use social media, up 44 from last year and he says few use it effectively. Everybody thinks about social media as promotions, email, talking. Twitter, more than facebook or anybody else is about listening, less pushing the pr that youve got in and opening a store and more searching on twitter to jump into the conversations. Facebook is different. If you were to jump into somebodys conversation on facebook, they would be upset. Facebook is much more private, its your profile. Youve had 102 people like this page. They want to receive information. The goal, to get people peop online to spread floras message. But to find those people, she needs to look beyond facebook and twitter. If you were lucky enough to be in the women demo and really try to story tell to women, pinterest is becoming almost a must. And then if youre looking for a hipster, younger crowd, thats when you get into tumblr. By you taking pictures of instagram, people will see it 15, 20, 30 people at a time. Not in one lump sum, but theyll share it. I think instagram is a must for you as well. It may take some time to master the social media web, but flora has mastered one crucial step, posting here her first instagram picture. Wow. You cant just set up your social media profiles and your accounts and forget about it. Some Small Businesses worry about the time it takes to turn social media into effective advertising. But gary says you need to compare the time youll spend with the money youll save. And you should always be on the lookout for extra time in your day that you can use to build relationships online. Best of luck to you, flora. Ben stein is known for his role as an economics teacher in Ferris Buellers day off. He also hosted a game show called win ben steins money. But before all that, he was a president ial speech writer. Did he write for richard nixon, jimmy carter, ronald reagan, or george bush sr. . Anyone . Anyone . Ill have the answer after the break. [ male announcer ] this is karen and jeremiah. They dont know it yet, but theyre gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, theyll find some retirement people who are paid on salary, not commission. Theyll get straightforward guidance and be able to focus on other things, like each other, which isnt rocket science. Its just common sense. From td ameritrade. Ben stein is a wellknown economist. He was a speech writer for president nixon. And oh yeah, this. Bueller . Bueller . Bueller . Now ben stein is advising all of us to slack off a little like ferris bueller. He writes financial basics are boring, its much better to be adventurous. I bet he doesnt mean it, considering his new book is titled how to really ruin your Financial Life and portfolio. On the list, the how not to list, it runs 49 different ways to ruin the portfolio. Number 18 is believe that those people you can see on tv actually tell the future. Well skip over that one. Im not pretending the tell the future, and neither are you. We dont pretend we know the future. Thats for fortune tellers. We do know the financial world is full of people who are trying to fleece you. We sure do know that. Why do smart people do dumb things with their money . Because we would like to believe that theres some magical way, instead of just doing basic, simple things you know, you knee Charlie Munger, vice chair of berkshire hathaway. He says it is not necessary to do extraordinary things to get Extraordinary Results with money management. All you have to do is simple things. Invest in broad indexes of stock, dont play games with commodities, dont play games with futures and insurance you dont understand, dont play games with foreign exchange, dont trust your money to people who promise certain results, dont go on margin, make a definite plan to match assets with liabilities. Incredibly simple, yet the results are breathtaking. What about going by your gut . Your gut tells you to go with something everybodys talking about . Dont do it. Just buy the indexes, the broadest possible indexes. You can get them for almost no money from fidelity or vanguard. Just go with