Generally, the program doesn't show a time stamp -- and there's no easy way to remove it, if another program has added one.
What kind of camcorder did your video come from and how did you get it into your computer? Which project setting did you select when you started your Premiere Elements project?
Welcome to the forum.
As Steve points out, this is usually a function of the camera. Most, that burn in the date/time, have the capability to turn that feature off. That is where you would address the issue, and just rec-Capture. As Steve asks, the make/model of the camera will be very important here.
If this is not footage that was Captured with PrE, via FireWire, then please let us know the full details of how you got the footage into the computer.
If the date/time stamp was added in a camera, where you are not doing a Capture, about the only thing that you can do is Scale the Video up, effectively cropping off that date/time stamp, but this will result in a loss in quality.
The camcorder is a MINI DV D008 in not a normal camcorder it a pair of sunglasses with a tiny video camera in the nose ridge.
I use a use cable to put the video on the my computer.
I have not used the video in adobe premiere elements 8 yet am at the moment the adobe premiere elements 8 is not install on my pc because I just reinstall windows like a week ago.
If the camera burns in the date/time stamp, then there is not much that can be done.
If you need to eliminate that, then the best would be to apply the Effect>Motion>Scale, to enlarge the footage, until the date/time stamp is effectively cropped off by the Frame Size. You might want to look into Effect>Motion>Position, to "move" the date/time stamp closer to an edge.
The other method is tedious, and requires ideally Adobe AfterEffects. There, you could use the Clone Tool, to "paint out" the date/time stamp, if there is enough clean background to do so.
A variation on that method would be to Export/Share as a Filmstrip and Import that into Photoshop (if one had Photoshop Extended, there are other formats, that would work too), and then Frame by Frame, use the Clone Tool to remove that image.
Though not a way to remove it, you can also replace it with a Title, that occupies the area of the date/time stamp, and just cover it up.
If the camera allows you to turn that "feature" OFF, you would want to do so for newer footage.
Good luck, and sorry for the bad news.