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Economic Policy Institute’s Christian Dorsey on why lawmakers should focus more on boosting the economy’s recovery.
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Well my next guest says that we are debating the wrong issues we shouldn't be focused on debt and deficits but rather are fragile economic and jobs.
But problems in this country Christian -- of the economic policy.
Joins me sit but Christie isn't it -- -- -- is completely off base.
Well you know we're we're talking we're we're dealing with self inflicted wounds and -- -- really having a proper conversation with our economy so far underperforming relative to its potential -- And so many resources mostly in the form of unemployed workers we are so far short of where we should be.
That it really obscures the whole picture over a long term fiscal outlook.
And we're talking about deficit reduction at a time we're really.
We should be talking about how to get our economy moving back to that maximum potential that's really the first priority it's not the say.
Deficits and debt -- unimportant but it's a secondary priority.
You know we're going to be getting the jobs report -- Friday mean it's not like we've got nothing else happening in the rest of the week from a markets perspective via more economy perspective.
Unemployment somebody percent but one of the big issues in the clip is the is the unemployed and -- those extensions of the gonna go away for about two million Americans yeah so what good does that they clocked in their last check Christian.
What does that mean for the economy instantly next week -- week after.
Now we're talking about sucking out you know in the aggregate billions of dollars from the economy at a point where were still very very fragile and that's gonna cause.
Paying for wealthy economy.
And not addressing those issues really just means.
Your -- your self inflicting wounds that are just completely unnecessary.
-- unemployment insurance when we have such high rates of unemployment have never before been controversial issues we've kind of always done that.
On a bipartisan basis but now it's really -- part.
Of this larger discussion and it doesn't really make any sense.
Of course I I've cleverly brought you back to the fiscal cliff -- Clinton biggest biggest outlets about this because if you look at the expiration of the bush tax cuts.
Something else that spoke to go way -- I don't know eleven and a half hours from now.
That's about one half percent of GDP for 2013.
-- mean the big chunk out of this nation's economy.
That goes away and spending power and I and I disagreed on other issues but I think we agree here.
Yes some of these tax cuts need to -- And without question with out question.
You know -- certainly a healthy debate to be had about you know what level you maintain the tax cuts.
But the fact that we're looking now -- so close to seeing.
All of those tax cuts go away is a completely ridiculous congress inflicted wound on the economy and it's very.
The difficult to to to square with reality and certainly I understand that retroactively they can do a lot to restore a lot of the damage but that we're so close to the precipice makes absolutely.
No sense you know over the last and final question here notices top deep tap dancer at this point but we had -- some really good things happen in the US economy.
Houses a recovery we're calling it a recovery -- had the Fed it has been more than generous -- throwing money into the system what do you like that are not.
Can this economy recover.
From this despite that we've had over the last four weeks.
It can if congress acts relatively.
Quickly replied if we you know go passed tonight.
Com what are the prospects that we're gonna see a deal -- two weeks you know we've had the better part of the year.
Talking about this and if we couldn't get it done by now what are the prospects are doing something.
A positive in the next couple of weeks you know we go past today I'm not sure that those odds are very good.
So -- I'm still optimistic.
But I am I'm starting to get a little concern -- All right we'll Christian Dorsey of course is always great to have you on the show is always good to have you on cashing in on the Fox News Channel we love you over the errors while happy new year Christian.
Think you --
