there's populism on the left, paul gigot, and populism on the right.at's fueling perry and the tea party but that's not necessarily getting us to a place of solutions. >> in the end, it will be an election settled on big ideas, what's the direction of the country. i think in 2012, are you going to have, if president obama is reelected, his economic policies will have been validated and he will be able to continue that direction. if, however, they are repud ated, you will see us move in a direction not unlike the election in 1980 where ronald reagan said i have a different idea, i want to go a different direction and we'll give that a try. yes, there will be agreements in the middle, but ultimately that's what we do in elections. set a direction. we had a direction for thirty months. the public is not satisfied with that direction. we will have a referendum on those policies. that's what we do in politics in this country. >> you have become a no labels guy after working for republican candidates or president, how do we change incentives in campaigns so

i'm paul gigot. first became president obama's 447 billion dollar jobs act. loaded with new spending and temporary tax cuts. and then, came his plan to pay for it. on monday, he proposed 1 1/2 trillion dollars in permanent tax hikes, including the so-called buffett rule to raise taxes on americans earning more than a million dollars a year. joining the panel this week, wall street journal columnist editorial, dan henninger, editorial board member, jason riley and assistant editor james freeman, so, james, we may be headed toward recession and may be in one. >> very slow growth. >> very slow growth. very slow jobs growth. the president wants to run presumably on the economic record, we have to. what's the strategy behind introducing this tax hike, about one and a half trillion dollars. how is that going to help? >> it's kind of mind-boggling and i think that's what investors around the world are looking at. we have a banking crisis in europe. we have the consumer in europe pulling back, the american consumer pulling back and asia's economy, india and china slo

paul gigot, thanks so much.l will have a whole lot more tomorrow at 2:00 eastern when he hosts "journal editorial report." then don't go anywhere because i'll be sitting in for jon scott tomorrow hosting "news watch. ' catch it at 2:30. jenna: brand new reaction from the white house on an alarming setback for the economy. employers adding no net jobs last month. the unemployment rate holding steady above 9%. peter barnes of the fox business network is live at the white house with more on this. peter? >> reporter: hey, jenna, that's right. listen, there was some noise in this number for the month of the non-pharm payroll number, but we have that strike by verizon which cut payrolls temporarily, we had some state workers in if wisconsin who were coming back to work after the budget showdown there. but nonetheless, wall street economists were expecting about 75,000 new jobs to be created by the economy in august, and we ended up with zero. the most troubling thing in this report, though, revisions for june and july

paul gigot, juan williams. bill kristol. rick perry at the top of the poll based on the strong record of job growth and job creation in texas and this visceral connection he has to tea partyers and evangelicals but he has also shown some real vulnerabilities. big picture, paul, what is your take on rick perry? >> he came out strong because he can appeal to several of the different strands of the republican coalition. doesn't have a big foreign policy record as he showed in the debates, hasn't thought a lot about them but has the potential. but i think he has been undermineing that potential with the performance in the debates. he hasn't thought deeply about a lot of these subjects. hasn't even defended his jobs records very well in texas and on social security he has a vulnerability there calling it a ponzi scheme and a monsterrous lie which even if you are libertarian and you think it is technically true is not the way to reassure voters in a way that will give them the confidence that you can reform it. and i think that is

i am paul gigot. hope to see you next week right here. >> on fox news watch. it knocked the whole thing out. >> two airplanes have crashed into the world trade center, terrorist attack on our country. 9/11 10 years later and we'll look at the media coverage then and the media coverage now. >> you should pass it. >> president obama takes the stage to push his plan to create jobs and spark the economy. is the press buying into that plan and did the white house manipulate the media coverage of the event. >> we have to keep the eye on the battle we face. it is the tea party. >> union leader makes a bold statement and targeting some on the right. but where was the big coverage? >> i for one and all of my friends up here repudiate the effort to get republicans to fight each other and protect president obama. >> and debate the issues and get hammered with liberal media questions. >> fox news contractor judy miller . cal thomas . jim pinkerton edidentity are of the american conservative magazine and crirsten powers. news watch is on right now. i am john fox. ♪ go, go,

paul gigot. evan bayh. bill kristol. and juan williams. perry has been in the race, five weeks now at the top of the polls based on his strong record of job creation in texas. and this visceral connection he has to tea partiers and evangelicals. but, as we saw in this last debate he has shown real vulnerabilities. big picture, paul what is your take on perry? >> he came out very strong because being appeal to several of the different s of the republican coalition. cultural conservatives, economic conservatives based on his texas record. didn't have a big foreign policy record, as he showed in those debates. he has the potential. i thinkg-.mw he's been underming that with her performance. he has shown he hasn't thought deepably a lot of these subs. hasn't defended his jobs record well in texas. on social security he's got a vulnerability calling it a ponzi scheme. and a monstrous lie. which even if you are a libertarian and think it is technically true is not the way to reassure voters in a way this will give them the confidence that you ca

thanks to my panel and for all of you, paul gigot. next week. . >> jon: on fox news watch. >> american jobs act. >> pass this bill. >> president obama taking his show on the road. pitching his plan as he continues his campaign for jobs. is the pitch the sam

joining me now, editorial page editor of the "wall street journal" paul gigot, presidential historian doris kearns goodwin, democratic congresswoman from los angeles maxine waters, and co-author of the new book "that used to be us: how america fell behind in the world it invented and how we can come back," tom friedman, as well as former adviser to presidents george w. bush and john mccain as well as co-founder of no labels, an organization dedicated to putting party labels aside and politics, mark mckinnon. welcome to all of you. happy end of summer. that's what this means, as i said, and the challenges that await us as we get into fall are pretty steep. here's the context of the debate we're having in politics and in the economy. the unemployment numbers that came out in august have kept unemployment at 9.1% and no job growth in august, a pretty bleak headline. and these are the projections that the white house has released, keeping unemployment at 9% through the election year. they project it comes down to 7.8% by 2014. something caught my eye this weekend. howard rosen from the pe

paul gigot from the wall street journal and evan bayh senator from indiana and bill kristol of the weeklyd and fox news analyst juan williams. he is focusing on the job growth in texas and connention he has to teparters and evangelical . he has shown vulnerability. paul, what is your take on rick perry. >> he came out strong because he appeals to the republican coalition. cultural and economic conservative. he doesn't have a big foreign policy record. but has potential and undermined that with his performance in the debate. he hasn't thought deeply about the subjects and hasn't even defended his job's record in texas and on social security has a vulnerability calling it a ponzi scheme and a monstrous lie. if you are a libbitarian and technically true not the way to reassure voters in the way to give them confidence that you can reform it. it is a vulnerability. romney going at that saying he can't beat obama and vulnerable and so go with me. >> one of the first observations i have looks like the republican party is back to the 10 commandments. they forgot about reagan commandment of not s

we will talk a little bit with it with wall streete editor paul gigot.ertainty seems the same, why is the price going down. >> people feared there would be a recession and they feared the fact that inflation therefore would not go up as much. so if inflation is not going to rise, you're not wa worried about inflation, gold is a hedge against inflation, and so gold falls. jenna: if you get into the market right now you may be say, maybe this is the way gold is all the time. >> if you bought gold when it was under $500 you look like a general just now. i present the 1970s and the early 1908s when we had the last huge run up in gold prices and it went up to about $800 an ounce. when they undercut inflation the price fell and it didn't go back above $800 for almost 30 years. so if you had bought at $800 an ounce that was a lot of losses you took for a longtime unless you sat on it. jenna: it's important to keep that in mind especially in a time like this. this is a broader question. we are constantly told in the media or otherwise that the value of our dolla