Dubious Benchmark

" President Obama in Asia right now we just finished a joint press conference -- two hours ago but with unemployment at the highest in more than twenty. Years some people are asking whether or not the president. Should be talking about going green. "

" In Japan -- Ricci is a professor of business at the University of Maryland he joins us live Peter is this the best way to balance the budget is this way best way to get our unemployment figures down."

" We'll traveling around the world and talking about the environment won't solve the jobs problem and get the economy going again a fact cap and trade will sabotage jobs at the Chinese don't do something. The -- won't get better and Americans will be unemployed."

" So we have had some statistics here apparently President Obama has been to more countries in his first year of presidency. Then any other former president let's take a look at previous presidents and their travels. We had George H. W bush to we have the graphic. We don't have -- apparently is gonna set a new record on this professor your thoughts on that."

" Well the man likes photo ops and the opportunity give speeches he's very good at that. He doesn't have much of a plan whether it's Afghanistan and Iraq. Guantanamo who bought the -- I -- job big during the campaign about doing something about the trade deficit in the Dolly young problem with China and so fought. But he simply doesn't have a plan. For example with jobs he says he's gonna have. I have another job summit that's what he said yesterday at Torrey the last times -- in the same liberal economists lady -- leaders and so what. They'll come up to Christmas tree of social programs the Senate wants another stimulus bill but they gonna rebrand it they're gonna call it something else because the last one was a failure could just be more big government. No jobs failure for America and maybe Singapore is in the best."

" Moved Tokyo probably does not gonna be the answer but Beijing might be to trade imbalance. Artificially holding down their currency. The holding are truly in dollar debt I mean these are some things we should be talking to talking about right directly to China."

" Absolutely the problem is the Chinese don't respond and -- we are forceful in our actions we simply have not been. So they will be very polite they'll do something symbolic. But the trade deficit with China will continue to get worse the reason China is about. -- to do something symbolic about the currency is -- other -- current countries are now complaining. And it wants to have influence with them and subvert American influence in the region. But we're not -- get anyplace going to China like good so applicants kneeling and begging them to do something."

" Let me ask you this professor do you actually think the unemployment rate is going to go up in the near future or down."

" I absolutely guy. The US economy has to grow at least 3% a year consistently to keep it even because we have 2% productivity growth. At 1% labor force growth it's simple math. He would US economy is is not poised for reduction in unemployment anytime soon. And once a stimulus money is sent to the rising trade deficit will pull the economy downturn and that unemployment to -- to 1213 1415%. He'd -- she always fascinating to talk to professor business university Marilyn thanks again. Meanwhile up next is there great guides take you sir -- sixth grade boy helps."