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Former White House Council of Economic Advisors Chairman Austan Goolsbee on Obama’s budget plan.
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I wasn't a lot of -- I'm gonna say from the back of the class I'd get a I get RK OK so let let's play that game and you tell me what this president's gonna do if -- were reelected.
About spending taxation.
And what is going to do to drive this economy forward because -- it let me get to this did the president make a mistake.
Not embracing Bowles Simpson if he -- today and you knew today what you well with our situation right now.
Would he have embraced it would even better off embracing it.
Well I -- well the reason I inject a little bit when you said that before is that Bowles Simpson framework.
Wasn't embraced by the Bowles Simpson commission.
And -- Republican on August and I get Dallas real president is that leader of that factory overall master resident legally under the guidance -- need he doesn't need a bunch of folks the stand behind him say.
You know you can't do until we talk.
He's a leader well -- -- leave may be correct hot -- alright.
He's -- leader well I don't I don't think that's quite fair well aren't gonna you don't want it as far as -- offered to straighten it out.
All the president offered something that's very much in the spirit -- Bowles Simpson that is.
What I would call balanced plan that includes new tax revenue.
As well let's cut -- probably two to -- times as many cuts is as new tax revenue.
The the other side economic and try to let's be as fair as possible not demonizing and we all appreciate airborne view that says we should not.
Have any tax revenue any new tax revenue and a deal.
And in the -- version.
It goes even more than that it says we should actually reduce taxes.
And make up for the lost tax revenue plus.
Do it cuts more housing and kind of the three visions and the president video -- which -- not really answering my part of the vision.
My question was did he make a mistake not embracing Bowles Simpson if he knew and you knew what you don't today.
Did he make a mistake because he -- had are arguably.
Are the opportunity to put into effect what you're articulating now.
But what -- articulating he did offer he offered other group of our something that that's actually where -- aren't moderate I gotta realize you're here in academia again now.
There's -- there's an insistence on intellectual consistency.
And the fact is -- did not embrace it.
I he does not offer it now and what he has offered has been rejected by his own party.
And by the Republicans.
What you say and the -- I agree we're in a little early 2070.
Days he has an even put forward a budget in the United States senate.
-- in the house he's got his work his way when budgets or call 800 rejected it -- and they has only strategy that we're gonna -- -- -- a budget it's why.
Low but the there really isn't there hasn't been a budget as you know the president put forward a budget year after year Kevin past is like.
I apply apply to light that they on fire and that I complained that my media is over cooked I mean that reason there hasn't been a budget.
Is because Republicans have.
Not wanted to.
Pass the that's patently untrue -- the fact of the Nevada -- -- the United States senate rejected his budget last year.
97 and -- -- House of Representatives rejected 414.
Did not think why hasn't the president put forward a vote the Democrats have the power in the senate.
To sustain and to approve a budget.
Without a Republican vote why would you -- Republican -- -- out over the -- his life.
It in case it is an obvious I have not a congressional legislative strategy -- all of which -- probably pretty Smart at all times.
When I was in.
The administration.
The administration.
Put forward.
Budgets that were serious and we had numerous.
So were they I vision we had -- and you know.
-- just ask what you don't have a very very sophisticated power when it comes to legislative maneuvering a parliamentary procedure.
51 votes in the United States senate in you've got yourself by democratic presidential led budget.
Well Lou as you know what they have done is just continue passing continuing resolutions being the structure of the budget as it is now an extended which is selling on the that are no we're not -- -- a -- but we do not agree.
Is that not one of us silliest things of all parties could do.
What that Bowles Simpson I don't think it's silly -- I said continuing resolution I was.
-- asking -- about your religion as the Aussie are yes look at that that's that's happened cowardice for both parties.
It's a path of your responsibility.
For both parties it's a path of -- -- indebtedness I agree with that whatever you wanna call -- it -- the way to go right.
Yeah I I agree we I think we shouldn't why don't we held.
Annual budgets not a two year budget power so that.
We can get out of this framework where everybody argues.
Over last year's budget -- by the time they're done -- that we're into the next when we get into the circumstances like we are now.
Where we just kind of hold in place what everything is what I'm starting to -- resolution.
Often -- -- -- start with -- -- -- we ought to do this thing the way they did they.
Payroll tax holiday do it every two months.
Offer budgeting and interest that resolutions put effort he thinks the hard months hello my goodness product that was a bad episode for the country I think.
And it.
Yeah well -- -- you know while I -- disasters scared consumers I think this is about creating some better episodes for the country going forward.
-- -- -- -- -- -- -- -- -- -- Any time -- great to talk to thank you Austin.
