WH's Gene Sperling did an awesome job this morning on CNBC pushing the AJA & slamming Republicans

[Pirate Smile]

Please - watch the entire thing - he was very effective:

White House Reaction to Jobs Report

http://video.cnbc.com/gallery/?video=3000050002

[Pirate Smile]

1. The transcript is terrible because it is just one huge blob of words - not separated out for

question or answer or who is asking or answering but I'll post it any way. It is much better to just watch the video if you can.

the jobs number coming in better than expected as employers added 103,000 jobs in september. but the unemployment rate stayed the same. 1.1. want to get reaction from the white house. first on squawk on the street is gene sperling, geno to some, director of the national economic counsel and assistant to the president for economic policy. good to see you this morning. thanks for having us. this is a glass half full number, just how full is the glass? i'm sorry, i couldn't understand your question. could you try again? sure, if this number is a glass half full number, how full is that glass? look, i put it this way, it is always a comfort if job growth is greater than projected. but not that much. it is not nearly good enough for our economy, not nearly good enough for this president. we need to have very robust growth in job growth to get this unemployment rate down, to help us dig ourselves out of the worst financial recession since the great depression. and that's why what is most important is are we willing to do something significant, pass the american jobs act, so that we not only take out needed insurance against a possible stalling of the economy or even a double dip recession, but we give the needed demand so that we can be creating significant job growth next year and start to see the unemployment rate go down. and what you have seen what you saw today in the new york times was that the top forecasters projecting that the president's plan could create from 1.3 to 1.9 million jobs next year are suggesting that the rlican alternative is nonexistent that it would not even score as creating any jobs. we just cannot afford to have -- it take that kind of risk. that's why we have to have the american jobs act, we have to have something that will help this recovery take hold over the next 12 or 18 months. it would be inexcusable and irresponsible for us not to. gene, big, big shift by the president, i think, in terms of trying to get compromise. the millionaires tax, we're talking about 250,000, 400,000. how can the republicans reject trying to make it so people who make millions pay more taxes? well, i think -- i think the number one thing is how can they reject or how can they sit on their hands when the top forecasters are projecting, what, 1.5, 2% growth for next year, 9% unemployment and rising and say it is okay to do nothing? it is okay to just take -- even a stubstantial risk of a downturn? how is that even possible f we were to do something significant to help this recovery take hold, everyone would benefit. even those who would be asked to contribute a bit more, those making over a million dollars, they as well as average workers, teachers, construction workers, benefit from a stronger economy so the real question is how can they say no to helping to get -- to end this run of teacher layoffs at this time? how can they say no to trying to do something about getting construction workers back to work, rebuilding our schools? these are things the american public, even most republicans support. but, gene, in your forecast, in your estimations there is no impact on job creation whatsoever. if you put this surtax on so-called millionaires. that is absolutely -- they won't hire a maid or a dog walker or a nanny or what not? there is no impact. couple of points. number one, this surtax does not even start until 2013. so there is not a penny of tax increase on anybody over this year or next year. second, 99.7% of americans would be untouched by this. and, third, yes, these are people who would benefit so much more from a stronger economy than they will be mildly affected by a surtax that helps this recovery take hold. david? the president spent the last ten minutes of the press conference yesterday talking about europe. and the potential impact on the financial crisis there on our own economy. how confident are you that steps are truly being taken in europe right now to deal with the consequences of what many people believe will be a greek default? well, obviously the president talks often with the leaders in europe, with the chancellor merkel and others and secretary geithner obviously works very closely with the relevant finance ministers in europe. but i think the president's main point is that there are some things we cannot control and some things we have only partial control of. what we do have control of is what we do in the united states. we saw that the debacle over the debt limit contributed to the loss of confidence. it didn't need to. we could have had a bipartisan agreement. and right now, what is under our control is to show the global economy and most important our own workers that we can do something to help this recovery take hold. that will provide a buffer against significant numbers of the risk, either from europe or elsewhere in making sure that the united states economy and the global economy continues to expand. gene, on the jobs number this morning, are there some indications that the break even number is coming down, in other words, the number of jobs we need to create to make up for new entrants? you know, that's an interesting question. i don't think there is any question that most economists believe that over the last decade or so that break even number has come down some. but here is the other side. we're digging out of the worst recession since the great depression. we have a deep hole. so it is not good enough just to break even. and that's the point the president is making. those who don't want to put forward or support the american jobs act are implicitly saying that they think breaking even is okay, that 9.1% unemployment and continued long-term unemployment is okay, that it is all right to just take a risk of that. the president feels that is inexcusable and irresponsible, that saying no and doing nothing is just not an option. some of the forecasters predicted that if we pass the american jobs act, the estimate for job growth next year will rise from 42,000 to 200,000 a month. that's 158,000 difference. you and i both know that can be the difference between an economy stalling out and a recovery that starts to get momentum and sees the unemployment rate come down. a year or two after christine romer once promised 8% because of stimulus, the white house is not shying away from making projections or promises like that? you know, i -- you didn't hear me make any promises or projections. what i'm talking about is exactly what independent forecasters are suggesting. we believe enough in our plan that we're willing to let those who are independent experts speak and evaluate. what have they said? they said people like macro economic advisers have said this jobs next year. moodys, 1.9 million. the same experts have said that they couldn't even make a judgment of the republican alternative because it would not have any job impact over the next 18 months. that's basically saying that doing nothing is an okay response. the president completely disagrees. gene, good to see you this morning. looks like a gorgeous day down there in washington. we'll see you next time. it is a nice day. thank you. in many ways for you. gene sperling at the white house.

[JNinWB]

2. Better with a few para breaks?

the jobs number coming in better than expected as employers added 103,000 jobs in september. but the unemployment rate stayed the same.

1.1. want to get reaction from the white house. first on squawk on the street is gene sperling, geno to some, director of the national economic counsel and assistant to the president for economic policy. good to see you this morning. thanks for having us.

this is a glass half full number, just how full is the glass? i'm sorry, i couldn't understand your question. could you try again? sure, if this number is a glass half full number, how full is that glass?

look, i put it this way, it is always a comfort if job growth is greater than projected. but not that much. it is not nearly good enough for our economy, not nearly good enough for this president. we need to have very robust growth in job growth to get this unemployment rate down, to help us dig ourselves out of the worst financial recession since the great depression. and that's why what is most important is are we willing to do something significant, pass the american jobs act, so that we not only take out needed insurance against a possible stalling of the economy or even a double dip recession,

but we give the needed demand so that we can be creating significant job growth next year and start to see the unemployment rate go down. and what you have seen what you saw today in the new york times was that the top forecasters projecting that the president's plan could create from 1.3 to 1.9 million jobs next year are suggesting that the rlican alternative is nonexistent that it would not even score as creating any jobs. we just cannot afford to have -- it take that kind of risk.

that's why we have to have the american jobs act, we have to have something that will help this recovery take hold over the next 12 or 18 months. it would be inexcusable and irresponsible for us not to.

gene, big, big shift by the president, i think, in terms of trying to get compromise. the millionaires tax, we're talking about 250,000, 400,000. how can the republicans reject trying to make it so people who make millions pay more taxes?

well, i think -- i think the number one thing is how can they reject or how can they sit on their hands when the top forecasters are projecting, what, 1.5, 2% growth for next year, 9% unemployment and rising and say it is okay to do nothing? it is okay to just take -- even a stubstantial risk of a downturn? how is that even possible f we were to do something significant to help this recovery take hold, everyone would benefit. even those who would be asked to contribute a bit more, those making over a million dollars,

they as well as average workers, teachers, construction workers, benefit from a stronger economy so the real question is how can they say no to helping to get -- to end this run of teacher layoffs at this time? how can they say no to trying to do something about getting construction workers back to work, rebuilding our schools? these are things the american public, even most republicans support.

but, gene, in your forecast, in your estimations there is no impact on job creation whatsoever. if you put this surtax on so-called millionaires. that is absolutely -- they won't hire a maid or a dog walker or a nanny or what not? there is no impact.

couple of points. number one, this surtax does not even start until 2013. so there is not a penny of tax increase on anybody over this year or next year. second, 99.7% of americans would be untouched by this. and, third, yes, these are people who would benefit so much more from a stronger economy than they will be mildly affected by a surtax that helps this recovery take hold. david?

the president spent the last ten minutes of the press conference yesterday talking about europe. and the potential impact on the financial crisis there on our own economy. how confident are you that steps are truly being taken in europe right now to deal with the consequences of what many people believe will be a greek default?

well, obviously the president talks often with the leaders in europe, with the chancellor merkel and others and secretary geithner obviously works very closely with the relevant finance ministers in europe. but i think the president's main point is that there are some things we cannot control and some things we have only partial control of. what we do have control of is what we do in the united states.

we saw that the debacle over the debt limit contributed to the loss of confidence. it didn't need to. we could have had a bipartisan agreement. and right now, what is under our control is to show the global economy and most important our own workers that we can do something to help this recovery take hold. that will provide a buffer against significant numbers of the risk, either from europe or elsewhere in making sure that the united states economy and the global economy continues to expand.

gene, on the jobs number this morning, are there some indications that the break even number is coming down, in other words, the number of jobs we need to create to make up for new entrants?

you know, that's an interesting question. i don't think there is any question that most economists believe that over the last decade or so that break even number has come down some. but here is the other side. we're digging out of the worst recession since the great depression. we have a deep hole. so it is not good enough just to break even. and that's the point the president is making. those who don't want to put forward or support the american jobs act are implicitly saying that they think breaking even is okay, that 9.1% unemployment and continued long-term unemployment is okay,

that it is all right to just take a risk of that. the president feels that is inexcusable and irresponsible, that saying no and doing nothing is just not an option. some of the forecasters predicted that if we pass the american jobs act, the estimate for job growth next year will rise from 42,000 to 200,000 a month. that's 158,000 difference. you and i both know that can be the difference between an economy stalling out and a recovery that starts to get momentum and sees the unemployment rate come down.

a year or two after christine romer once promised 8% because of stimulus, the white house is not shying away from making projections or promises like that?

you know, i -- you didn't hear me make any promises or projections. what i'm talking about is exactly what independent forecasters are suggesting. we believe enough in our plan that we're willing to let those who are independent experts speak and evaluate. what have they said? they said people like macro economic advisers have said this jobs next year. moodys, 1.9 million. the same experts have said that they couldn't even make a judgment of the republican alternative because it would not have any job impact over the next 18 months. that's basically saying that doing nothing is an okay response. the president completely disagrees.

gene, good to see you this morning. looks like a gorgeous day down there in washington. we'll see you next time. it is a nice day. thank you. in many ways for you. gene sperling at the white house.

[Pirate Smile]

3. True. Better.

[Supersedeas]

4. Yes, it is. Thanks for that.

[Pirate Smile]

5. kick

[Inuca]

6. Unreadable :-)

And this is meant as a kick.