robert reich, thanks for joining me.labor secretary of the united states. >>> coming up, we have a huge late friday news dump in the middle of the pandemic. donald trump has just fired his intelligence community inspector general that flagged the whistle blower complaint that led to his impeachment. that breaking news is next. i should get a quote. do it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ (bobby) you're concerned that it's going to cost you money.ouble, (ben) to this day, i only paid what i had to pay for the device. when i go back, everything is covered. there's so much you're missing by not having hearing aids. (vo) we'll find you a hearing aid that fits your lifestyle and your budget at one of our 1,500 locations. call 1-800-miracle to start your 30-day risk-free trial and schedule your free hearing evaluation at your locally owned miracle ear today. amake it feelh impossible to breathe. get relief behind the counter with claritin-d. claritin-d improves nasal airflow 2x more than the

let's bring in economics professor at the university of california, ed burkley, robert reich, he alsoerved as secretary of labor during the clinton administration and his book, the system who rigged it, how we fix it, came out last month. robert, thank you so much for being here. the president has his council, the governors have their consortiums. business leaders, i'm sure, are talking to each other about when they can reopen. health experts have their idea. everybody seems to say that there will, at the very least, be a rolling reopening of states, but give us a little bit of exhibition 101, if you can. what sort of drag is that going to put on the entire economy if we can only open piecemeal. >> the economy is going to be slowly recovering in any event. i think the biggest danger to the economy is that it so-called reopens too early and we actually find ourselves with another upsurge in the pandemic, which kaucauses us to go back inside and shelter once again. that could have a hugely negative effect and make the economy actually, actually close the economy for a longer time. the s

a former labor secretary robert reich is an expert on these issues. the latest is the system, who rigged it, how we fix it. he has led the oversight of labor in america and is a renowned economic voice. gene robinson still with us. robert reich, let's start with the big picture, western when say 26 million people are newly unemployed and the vast, vast majority, through know fault of their own, it is just classic macroeconomic problem, not that they lost their job because of what they did. what does that mean? for long-term recovery and changing the way our current system tries to support people who are in this position? >> we don't have remedy supports in place, ari. that's one of the big problems. the country is not prepared in terms of social safety nets to handle this degree of unemployment. you know, we are heading very rapidly towards 20 to 25% of our workers not having jobs. we haven't seen that degree of unemployment since the great depression of the 1930s. even then, we had to and, franklin d. roosevelt had to create brand-new systems out of

robert reich is here, former labor secretary under president clinton and author of "the system: who riggedt, how we fix it." that's a good question. but let's talk about those ten million americans. good evening to you, by the way. thank you for joining us. nearly 10 million americans have lost their jobs over the last two weeks. you were the labor secretary. you worked on president obama's economic transition team. did you ever think that you'd see numbers like these? >> i never did, actually. the highest number we'd ever seen for first-time claims for unemployment insurance was in 1982. that was about 695,000. nobody would have believed it if you said you're going to see 6.6 million people in one week filing for unemployment insurance. and those 10 million people over the last two weeks, that's a small fraction of the number of people who have lost their jobs, because a lot of people are not eligible for unemployment insurance. . >> yeah. i know you're the expert, right, and there are lots of experts, robert. but no one has ever seen anything like this. even you just admitted that. so ho

joining us now, the former secretary of labor, robert reich.served under president clinton and is the author of a new book entitled "the system: who rigged it and how to fix it." mr. secretary, thank you so much for joining us. what, nearly 17 million people now filing unemployment claims. this many people can't simply be out of a job, losing their businesses, potentially their homes. what do you think? how does this get solved? >> well, it's not an easy problem to solve, obviously, wolf. this is not a typical recession. it's not even a depression. this is a public health crisis, and people are losing their jobs. some of them are sheltering at home because they have to or they want to. it's necessary that people be home. in fact, it's necessary that a big and significant part of the economy be shut down. so, the big question is how to get money out as quickly as possible to people who don't have money? you know, by some estimates, 80% of the american workforce is living paycheck to paycheck, and if there are no paychecks, that means that they a

robert. reich. if there were not a lesson the democrats will say but of those they stepped on the seal but what you're sorry yes. here comes my mother with a kilometer left from there are some of the badminton that it got in the money. that's in the buy one don't tell you. on the other with. my. little. you know. others will see. you. come with a. thank you. they way they get out that are way better than ever in most of the. world. that's when i get that mean now that they are no they're credible. you know and also a little well not. a lemon. so . and then milo motherly the other manufactured i got a bone would nice and i see it on their own local bar saw an ass then i said that i'd be. more lost. embargo are. going to save us and oh no no money to. buy them on this issue. i think i'm going to watch the bend and then secondly i don't know what. and how i'm going to. get younger the only spot i. only know how hard is going with you to come you'll. be. good to. go below some other terrible with those

robert reich is a familiar face in the bay area. the former labor secretary for president clinton and a policy professor at cal. he is out with a new book called "the system, who rigged it, how we fix it." he tweeted billionaires and cop rat executives don't need tax breaks or bailouts. working people do. joining us is professioner reich. you have been adamant in that stance that it needs to go to the people and not the billionaires and the cop rate exexecutives. let's talk about the money. it's tapped out. clairerfy what it means. >> the feds feds have given it to the banks. the feds have given foit small businesses. >> it's a little bit of a rube goldberg machine. it goes from the lenders to actual small businesses. all we know is that the treasury is saying it's gone. it's already been allocated and we also know that only about 5% of the small businesses that wanted it and say they needed it are actually getting it. according to the data we have. >> is there going to be more money coming down the way? what do you tell them? congr

former labor secretary robert reich on the economic crisis and for some families hurting, the trump

former labor secretary robert reich, a clinton-era guy, says the government should be bailing out peoplee cortions shoul borring. we need our airl but a controversial choice nonetheless. >>> moving on, we've got a former presidential candidate grilled by a famous rapper? >> reporter: exactly. this is really cool. so senator bernie sanders teamed up with guess who -- cardi b. -- for a live instagram interview. the outspoken supporters of sanders had an instagram live yesterday. and she sat down with bernie sanders and had some interesting things to say about why senator sanders suspended his campaign, and more importantly, she talked about why now he's backing joe biden and so is she. take a listen to this. >> so now we have 45 and joe biden. and you know me, since i've been so on you and so focused on you, i haven't done my research well on joe biden. i will -- want you to tell why you're endorsing him. >> donald trump is to my mind the most dangerous president in the modern history of america. what i. also trying -- what i am also trying to do right now, cardi, is to work with joe to se