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We are seeing a situation where people are taking whatever they can. it used to be you graduated from high school or college you could go out and try a number of different things. now to get a basic jobs, people are saying, where's your degree to serve coffee or whatever it is. >> is that right? >> increasingly so. a lot of people are overqualified for their positions. >> i would disagree and i'm hiring right now and the first thing, what are my benefits? a lots of people are living at home until they're 25 years old, okay with mom and dad cooking for them and paying no rent. >> i think this g...

>> it means someone has to feed them and clothe them and entertain them. i have to tell you something. teenagers, there were no jobs created for teenagers this summer. the participation rate is shocking particularly for white teenagers. in 1978 august it was 62%, now it's down to 35%. that's scary stuff, someone has to look psychologically that our kids are giving up on the american dream, dovetails with everything. owning a house opposed to renting, getting married. i call it dropout nation. a lot of people, particularly young people have dropped out. >> as a teenager i scooped ice cream at f...