Also in this playlist...
This transcript is automatically generated
-- bring in our next guest Diana effort Scott Ross is the senior fellow at the -- -- seeing institute.
She's also former chief economist at the Department of Labor then I think so much for for joining us.
-- great to be reviewed today curious your take on the president's comments and -- into some of your recent writing.
You put out a piece called the misleading -- -- -- in equality and in eight.
You aim to prove that inequality in in -- have actually diminished since the mid 1980s.
Yes yes well I -- about the president's speech he made it seem as though.
The House Budget Committee plan is cutting the budget in fact in absolute tons spending does not.
Ryan's budget cuts five.
Trillion dollars over ten years but the budget continues to rise the president makes it seem as though there is no waste in the budget.
But we are borrowing forty cents out of every dollar that we spent.
And under the president's budget.
Spending as a percent of the GDP would remain around 23%.
And it's important to cut spending.
And he makes it seem as though there's no way to do that what's also interesting was he talked about the Buffett plan taxes increase on million as.
But taxes -- increase as he went into -- -- on anyone making over 250000.
Dollars a year and the top 1% spends.
The top 1% of income and as.
Already pay 68% of all taxes the top 10% pay 70% of -- taxes the top half of all income in this.
Of all taxes.
Since it's federal income tax so why is it then just really hammer home your point here.
A matter fact that we should focus more on spending rather than incomes in taxes.
And that's exactly right and the president mentioned we need to make investments in all -- and AG.
But you can see what's happened with some men dress and the Energy Department loan guarantees those would be a waste of money.
You mentioned high speed rail -- high speed rail would cost a vast amount of money but very few Americans would use it.
There places in the budget that can be cut and we need to get government spending down.
And Paul Ryan's plan -- that as a percent of GDP.
-- he says some things that if -- true are actually pretty scary set me.
You know with this the consequences of this budget we would not have the ability to protect the air we breathe for the food that we eat.
-- have less accurate weather forecast he talked about you know the warnings for tornadoes being less accurate are being delayed his oldest true.
This is just not -- festival the air is getting cleaner and -- every time someone retire as an old car.
-- -- -- -- -- We are through the presence EPA.
Coal fired plants are already we've taken a 106 coal five -- already.
Opt out of circulation since January 2010 where replacing them with natural gas -- Plants would -- -- price of natural gas but gonna continue to do that.
But the president makes it seem as though all of these things the government's responsibility.
And don't forget that the president himself in his new health -- took 500 billion dollars out of the mega cap program.
To put in -- new affordable cat.
And yet he's accusing the Republicans of cutting Medicare -- What's also interesting is that he is against wealthy seniors paying more for their health -- But he doesn't seem to mind raising taxes on others you know each other wealthy -- -- talked about his reaction to Simpson and -- and in fact I interviewed Alan -- American -- After they put their plan fort -- that they didn't -- reaction from the White House to basically didn't have any contact with them.
After they were appointed to come up with a plan to write our deficit and the economy do you think that they have some good ideas.
That should've gotten more consideration and you think the president really considered it.
But the president didn't seem to consider he called for the commission but once the recommendations came up.
He did not put it in front of congress to a vote he just sideline did and I think many people many people in congress would -- being glad to vote on -- symbols.
And to have that debate and to have that discussion.
Yeah Diana there have been some technical issues there with you I hope -- one quick question.
Do you think people overall we're generally incentivized.
To work harder and try to achieve the American dream or not.
I think you know what's happened is -- the past three years we had the slowest economic recovery in history we have deficits of over a trillion dollars before years in a row.
We have an eight point 3% unemployment rate we've had over 8% unemployment.
Well over three years it's difficult to be incentivized to the American dream.
With economic conditions like that and without fail to find a job.
The American dream means you have to be able to find a job to get your foot on the fast rung of the Korean that that's what we need to change.
That's what Paul Ryan's budget would change and also the budgets.
All the prospective Republican candidates -- running for president.
-- for -- -- many thanks to you and Peter Barnes as well thanks again.
Filter by section