Eric Schmidt on This Week

Google CEO Eric Schmidt was on ABC's This Week. Business is sitting on its money, he said, because government is too busy fighting with itself to stimulate demand and justify hiring people. He liked spending on infrastructure like roads and schools.

Amanpour asked him if unemployment was just due to technology replacing people with machines, but he said that that's been happening since the start of the industrial revolution.

He thought we needed a nationwide German style committment to creating more jobs.

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