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As the White House continues to urge congress to expand and expand the payroll tax cut the chairman of the white house council of economic advisors Alan Krueger.
Made his first appearance in the White House briefing room today.
This is a critical time for the economy and I think is a time where the economy can use more medicine to strengthen.
And sustain the recovery.
Sounds keynesian -- -- it does medicine mean more stimulus joining us now democratic congresswoman Marcy Kaptur of Ohio congresswoman good to have you with us.
I've -- -- -- -- -- sounds like he's singing a very familiar refrain.
More money to stimulate -- to create demand where there is only weak demand now what do you think brilliant idea.
-- consumer spending drives this economy and we don't -- -- increase taxes on the middle class.
-- so I think that.
The idea from -- to you would raise taxes right now.
In a fragile recovery.
To me is -- non starter.
We just -- -- retail sales went up about sixteen point 7% I think it over the Thanksgiving while running right then.
And so that actually is a sign that recovery is slowly happening it certainly is an.
All across the northern part of Ohio but it's a slow process recovering.
From this massive Wall Street.
I'm now down in the outsourcing of so many of our job so we need to.
Every small business -- what they say.
Give -- customers could be customers and therefore I think I agree with that mr.
-- I think that we shouldn't raise taxes on the middle class.
Do you agree within that what's required is stimulus.
I mean I how much more stimulus could we stand that we're talking about four trillion dollars over the course of the past.
Three years in the form of deficits I mean my god where does this end.
Well you know some of that was -- waiting to cover the costs of unemployment.
Also the wars that had been on paid for and I don't think the American people fully understand the impact of the Wall Street meltdown.
On the rising budget deficit because so many people were thrown out of work so many people.
Our -- health insurance but I got much to much much too much respect and affection for you.
To -- to make certain.
Economic certain and I understand you correctly.
You're not suggesting that the cost.
For the deficits that were running up is the reason that we're running up deficits in this country.
I mean that's massive massive.
Government spending that is simply out of control with a national debt as you well know over fifteen trillion dollars.
We -- we watch this stores that have been paid for.
We have high levels not paying for me but your party and the Republican Party together in the super committee congresswoman you must be so proud.
They decided they would use the savings from the wind down in Iraq and in Afghanistan.
Bid put a trillion dollars.
And counted as savings.
Against the budget deficits over the next ten years.
This is kind of leadership we're getting right now in Washington.
We have to exhibit budget leadership we've done it before the -- in a part of congress is that a balanced budgets.
It takes a president and it takes a congress that's willing to compromise and work together.
Frankly I think they should split the difference I didn't I didn't agree with the structure the super committee but why keep fighting why not just.
Deal with the revenue side deal with the spending side split the difference and let's finish the public's business -- the years out.
The people's business wouldn't it requires something more than watching a floating baseline where people are in Washington DC I know that you are not amongst that crowd.
Would like to see the unity of the games of past fiscal access.
In the guise of dealing with our massive runaway deficits and mounting death.
You what we want to see that -- But anyway we don't want to do it in a way that creates more job loss.
And that is that the in channel through which -- -- let me -- if -- got this -- he -- we spend more money and we run up more debt to create jobs.
We will not constrain.
Spending and reduce deficits in order to protect jobs leaving very little.
In the way of a fiscal.
Option before you -- future leaders.
You have to do -- you have to restrain spending you have to eliminate unnecessary programs but you also have to have.
In order to lift the economy -- we have so many people out of work.
In so many people who've lost their health insurance the deficit -- and frankly -- to keep people in this country fed.
During this very difficult period of time so that tends to add to the deficit along with the continuing wars so those are all very serious trade -- that have to be made at this level but I'm really confident.
That -- if we could nearly split the difference.
On the revenue side and the spending side we could keep ourselves out of growth -- forward to create jobs here in our country all right -- -- -- we thank -- for being with -- congresswoman Marcy -- always good -- -- -- Up next.
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