kevin hassett is with us later. kevin hassett is with us later. and where is the state - ♪ livin' in this crazy world ♪ ♪ so caught up in the confusion ♪ ♪ nothin' is makin' sense ♪ for me and you ♪ maybe we can find a way ♪ there's got to be solutions ♪ ♪ how to make a brighter day ♪ what do we do? ♪ we've got to give a little love ♪ ♪ have a little hope ♪ make this world a little better ♪ - ♪ make it a better world - ♪ try a little more ♪ harder than before lori: a disappointing august job report. elaine chao will be with us in moments. on wall street today, stocks ending higher. it boosted hopes for another round of easing from the federal reserve. up 16 points and the s&p was up six and the nasdaq rose a fraction. the dow gained more than 1.5% for the week. the nasdaq and the added more than 2%. reported at the top of the show from the economy has created 96,000 jobs last month. far fewer than 125,000 that analysts were predicting. unemployment fell from 8.1% to 8.3%. only because people threw up their hands. third-quarter revenue was cut beca

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kevin hassett is here and archbishop dolan during the dnc benediction last night. we will play the tape and let you decide. first, the obama and romney campaign. crisscrossing in iowa and vermont. >> we have been there and we have tried what they are selling. it didn't work then and it's not going to work now. we are moving forward. as was pointed out in the convention, there is a basic component missing from this plan. it's called math. [laughter] arithmetic. lori: there is no arguing with this guy. the economy adding a measly amount of jobs last month, 96,000. it would be good if not for the 400,000 people who drop out of the workforce altogether last month. vice president joe biden insisting that the economy has turned a corner. unfortunately for the american public, it appears that may have been a wrong turn. the obama-biden ticket hit the campaign trail today hoping to capitalize on any momentum from the democratic convention. chief white house correspondent ed henry has more in this report. reporter: president obama and vice president biden hit the campaign t

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let's bring back romney economic adviser kevin hassett. dian, christian's a canadian and dennis kusinich is kind of like an honorary canadian, he comes from close to canada. good to see you, congressman kusinich and christian. how can you even compare four years ago to today, kevin? the economy was in freefall. doesn't the president deserve credit for putting a floor under that collapse? >> well, i think that the point is that, you know, really we could start with a couple of 4 3 3s and i kind of agree with the are you better off question, in the sense as patriots we should ask is our country better off than it was four years ago and there are so many disturbing statistics that you highlight often in your show, a couple of 43s. 43 million americans on food stamps, we've had 43 months of unemployment above 8%, and i think that their identifiable problems right now that could be fixed if we pursued good policies. that's what governor romney is saying. president obama is kind of out of ideas, not telling us where we're going to go from here so

without further adieu, let me turn the microphone, to kevin hassett, director of economic policy studies at the american enterprise institute. he will be our moderate for the first session. >> thanks a lot, steve. welcome everybody. i think today's jobs report showed that 96,000 jobs were added in august and, more or less, reveals that the labor market is about as we thought it was yesterday, that it is very weak. there are, increasing number of discouraged worker, increasing number of discouraged workers in the labor force and unemployment rate blipped down a little bit but it was really because the labor force declined, that that is a public policy challenge that is of the highest order because of the deep recession we have had. we have a large amount of long-term unemployment people that are separated from the workforce very hard to reconnect. and, i think that it is also an area of public policy that is ripe for bipartisanship. . .. professor of economics at harvard university and a research associate at the national bureau of economic research. his research focuses on issues and eco