host: lawrence mishel?waii guest: i think the major problem in front of us is the fact we have very unemployment and it will stay high for some time. air response to a financial crisis and policies that were overly reliant on markets without enough government regulation. the fact that we have a very high fiscal deficit right now is almost totally do two things. when you have a huge recession, not enough taxpayers paying money and money we spend a session -- and the savaging of the revenue base by the bush administration in the last administration. so, we will get the deficit under control as we get jobs, and so the real problem right now is getting people jobs. host: let's turn to jobs. a question for both of you. what is the government's role in job formation? guest: might be right now, when you have a private sector that is totally -- my view right now, when you have a private sector totally dead and monetary policy at full blast and we still not getting very robust growth, not getting very good job growt