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Wrote in his book and told congress the reason he did it russia, he says, advising china to dump fannie and freddie debt. in other words the bond yield started to fall apart and the government had the seize those two immediately. >> mike: we hear the president say the economy is on the rebound. are we doing better? >> the economy is expanding. that is true. there is some very limited new job creation, very limited. the deficit, the hangover of debt will slow us down. we're not recovering in a robust fashion like we should be from a se serious recession. far from it. it's slow recovery. >> the ...

Wrote in his book and told congress the reason he did it russia, he says, advising china to dump fannie and freddie debt. in other words the bond yield started to fall apart and the government had the seize those two immediately. >> mike: we hear the president say the economy is on the rebound. are we doing better? >> the economy is expanding. that is true. there is some very limited new job creation, very limited. the deficit, the hangover of debt will slow us down. we're not recovering in a robust fashion like we should be from a se serious recession. far from it. it's slow recovery. >> the ...

What is a good rule of thumb for consumer and country? >> the issue is the interest on the debt. it's getting to blow hole on the balance sheet the size of egypt. if you are borrowing money for the interest cost, good capital is not going to the economy to grow the businesses. they're saying -- we only pull in $2.7 trillion in tax revenue and we borrow the rest. if it gets to 20%, trending up, the interest costs. when the credit rate goes down and borrowing cost goes up and more taxpayers to spend on the bond yield. >> who is going to lend us the money? >> right. china is already saying that. ...

So there is that mismatch. overall economists are calling this full employment. where are the job gains? they are in retail. they are in health care. again and again, we have seen health care jobs across the wage spectrum coming into this labor market, and in manufacturing, 18,000 net new jobs created in manufacturing, john. that makes it the best year so far for manufacturing job growth since 2011. a caveat here, about an hour or so before this report, wall street expected a strong report because the president tweeted he was looking forward to seeing these numbers. and the president would not...

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