Monday's Wall Street rollercoaster ride is due in part to the nation's "hideous economic recovery," Republican presidential candidate and former New York Gov. George Pataki says.
"This is seven years after the great recession and we still have too many people unemployed, underemployed, working part-time, and [who] want to work full-time," Pataki said Monday to J.D. Hayworth on Newsmax TV's
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"There's one reason for that and that is Washington, D.C. We have a tax code that is the worst in the world and we should throw it out, lower the rates on everyone, particularly small businesses and get rid of the loopholes that allow the rich to ignore paying their fair share.
"We should also undue the regulatory morass that Barack Obama and his Democrats have put on our small businesses and large businesses … We need to grow our economy. We need to have American jobs. We can do that. We're still America. We have a great workforce, entrepreneurs. It's government that's the problem."
On Monday, the Dow Jones industrial average briefly plunged more than 1,000 points in a nerve-rattling sell-off, before regaining some ground to finish with a loss of 588 points.
Pataki, one of 17 GOP candidates, has barely registered in the polls, but he believes that may change.
"I just have to keep working hard and what's going to happen is you have the crisis on Wall Street with in fluctuations. You have doubts about the economy. You have ISIS growing stronger," he said.
"People are going to look and say 'who can actually run this government? Who is the conservative who has the experience and the vision to bring people together, to solve problems?'
"It's easy to spew out a sound bite. It's easy to express anger. It's harder to govern successfully. I did it in a deep blue state with the most conservative policies of any of the other 49 states for 12 years. People will take a look and say 'it's time for serious leadership. It's time for growing up. Government not sound bites. George Pataki is that leader.'''
He added that he has the leadership qualities to bring compromise between endlessly warring Republicans and Democrats on Capitol Hill.
"We have that confrontation right now. Republicans control the House and the Senate. We haven't even been able to send repeal of Obamacare to Obama for him to veto because you need 60 votes in the Senate," Pataki said.
"I would get those additional Democratic votes to repeal Obamacare, sit down and work with them as I did passing a very conservative agenda in New York state with a 2:1 Democratic assembly.
"The last Republican president who worked closely with Democrats was Ronald Reagan. He had a Democratic House with Tip O'Neill as a speaker and yet he passed a conservative agenda. We haven't done that since even when we had Republican presidents in Congress. I will get that done."
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