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erin burnett. and the market looking for the slightest bit of good news, and got a little bit today and surged. the dow is up 213 point, the reason, the jobs numbers for july was better than anyone was looking for. the total number, 163,000 jobs created last month. the prediction was 100,000. we need about 125,000 jobs created per month, just to keep up with population growth. so this report does that. but look at the rest of the year. i mean, we haven t been able to clear that hurdle since march. it s been a really grim stretch. so there was a little bit of relief today. the bottom line is this. the american economy only has to add another 316,000 jobs to get back to where it was in january 2009 when barack obama took office. now, that would mean that he breaks even. but remember, in january of 2009, the economy was in a really bad place, and what he needs to do to make people feel really good, like the economy is recovering, is not only to break even for himself, but ....
erin burnett. and the market looking for the slightest bit of good news, and got a little bit today and surged. the dow is up 213 point, the reason, the jobs numbers for july was better than anyone was looking for. the total number, 163,000 jobs created last month. the prediction was 100,000. we need about 125,000 jobs created per month, just to keep up with population growth. so this report does that. but look at the rest of the year. i mean, we haven t been able to clear that hurdle since march. it s been a really grim stretch. so there was a little bit of relief today. the bottom line is this. the american economy only has to add another 316,000 jobs to get back to where it was in january 2009 when barack obama took office. now, that would mean that he breaks even. but remember, in january of 2009, the economy was in a really bad place, and what he needs to do to make people feel really good, like the economy is recovering, is not only to break even for himself, but ....
Isn t that correct? that s absolutely correct, dylan. apple, ge, gm, caterpillar. these companies have a vested interest in china s unfair trade practices. but dylan, here s what i would like to see somebody get up on the floor of the senate and say today. the best job program is not more government spending or tax cutts. it s trade reform with china. and the most important reform has to be ending this currency manipulation china engages in. and it s not just the united states that gets hurt by currency by china, that s 40 to 50% undervalued. it s the rest of the world. europe would not be flat on its back right now if it hasn t endured two years of a falling dollar, a falling yuan and a rising euro. canada gets hurt, other countries around the world, and the rest of asia has to manipulate their currency just to keep up with the chinese. this is the time, dylan, and i hope that people step up in the senate and in the house. ....
Reduction of the deficit, and the republicans are adamant that the only thing they will agree to is spending cuts, and they want trillions of spending cuts. but democrats want the president on the hook to raise taxes so they can leave the meetings and have a talking point of see, this is what they aref and they don t want to focus on the cutts, but raise taxes even though you have leading economists who say you have to come up with revenue here. right. right. and republicans are always happy to paint the democrats as, you know, tax and spenders, but it even a little bit more nuanced than that. you know, cantor does not want to be tied to a tax increase. if that happens, he wants speaker boehner to do something like that, and then have boehner deal with the fall-out from the rank and fall and the ae partiers. that is going to follow. well, thank you, ryan, and joining us and as you know we had to make the segment short because of the breaking news. ....
The other thing. is the left not giving the president permission to do what he needs to do, including compromise and tackling these entitlement programs? women, i think there s very little public sentiment, as you just noted, for cuts to social security and medicare. and so and particularly on the democratic side. these are programs that the democrats originated and have always been identified with, and many of you was on the progressive part of the democratic party think it d be hugely injurious to the economy and the people s purchasing power, things like that, if you made serious cutts to things like social security. and then on the immediate particulars of the cutbacks that the republicans have proposed for the continuing resolution, it s a political agenda. it goes after the agencies that regulate wall street, things like that. this has no impact on the budget, it has real impact on republican priorities to create a totally regulated economy. hold on, i m going to let you ge ....