Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Steve Forbes on the State of the Union Address

Details

  • Description

    Forbes Media Chairman Steve Forbes previews Obama’s State of the Union speech.

  • Duration 4:39
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

The president is set to deliver his fifth State of the Union Address tonight a laundry list of topics are expected in the speech.

From jobs to the economy to climate control and also spending cuts.

But what is expected to be the most important topic covered by the president tonight and what -- -- -- set for his second term joining us now.

Forbes media chairman and editor in chief.

Steve Ford Steve good to see you -- -- you were prior let's talk about what we're probably gonna hear first we're probably gonna hear that the economy is five were on the right track yes we had a slight up tick in unemployment but basically worst we're creating jobs and everything.

Is he gonna touch on the fact that the economy should be growing stronger than it is right now.

Course not.

That otherwise he -- been reelected to -- knowledge the economy was growing at a sub par pace based on our history you know in the past never sharp downturn get a sharp upturn.

The question becomes can you sustain it.

We never had that sharp upturn.

The jobs have been created -- post about that tonight.

Are low paid jobs they're not the caliber that we had in the recoveries in the in the past.

So well yes -- put a gloss on it make it sound like prosperity is just around the corner coming in coming.

And things are getting better deficits getting smaller -- won't talk much about entitlements won't talk much about the old onerous burdens from health care.

And all the things that are depressing a state of.

-- -- to be fair and balanced though you know the past couple times that that we've had.

The president speak on -- jobs day he has always said yes we have job creation but it's not where we want it to be.

Don't you think that the important thing that he now needs to do.

Is look forward and say here's XYZ of what we've really need to do to make that happen and what if you could fill in the blanks should that be.

Well on four.

Only he's going to stick with the old playbook.

That is more investments which is government euphemism for more spending.

Tax increases he'll do it by taking out some of the preferences in the tax code increasing tax on the upper income people -- -- -- -- downer for the economy.

What he should say is he's firing Bernanke can have a stable dollar.

Number two real work to simplification the tax code to lower tax rates is the Simpson Bowles commission recommended.

And take a -- at the health care regulations and what it's gonna do to a job creation.

-- your -- -- -- collections of baton as the year wears on -- in 2014 that's gonna hit and hit.

Hard now on taxes is subject that you've had a death figure -- to say about the past couple years.

Did Marco Rubio is going to be delivering remarks after the president Republican side of things I he's a very Smart guy.

But I would think if he was really inventive he might go back to report issued by the president of the United States this report.

The president's plan for economic growth was issued in 2011 September.

And he talks about the principles for tax reform this is the president talking he says lower tax -- before British.

The tax system should be simplified and work for all Americans would lower individual and corporate tax rates.

And fewer brackets this is the president.

Talking why doesn't Marco Rubio put this up and say Mr.

President won't -- yet -- percent we agree with what you said back in 2011.

He might do so and the back actually the most we could hope for from this president is doing something David in terms of reducing corporate tax rates.

Everyone now knows me even Democrats its highest in the developed world.

And death so if you put some big constructive there that would be real Blockbuster but I don't see any signs of all right -- -- surprises in the good way for -- look.

Looking at that the title of this living within our mean who -- this is what a lot of Americans are trying to do these days.

Why is this a difficult and to that end march 1 when the sequester kicks and -- in a way if if it is allowed to happen guess it would be painful but couldn't -- in a way be forced.

Spending cuts forced austerity it's it's actually -- -- -- -- For the moment what it's gonna do to the military and I think military does need reforms that some of the subject for another time.

But overall this'll be a good thing for the economy be the first time we get genuine spending cuts.

Not the phony ones lower interest rates in the future savings and Afghanistan that kind of junk.

It'll be real and that's why the Democrats and -- starting scream about it.

And for once the Republicans hold the whip -- they just have to sit back and say let it happen.

Steve Forbes -- guy -- -- terrific kid by the -- Fox News wells coming up our business every Saturday morning 1180 and it's got a great to host yeah price is right it's got a great title which is Forbes on fox sports on fox every Saturday morning hello of these love fest and it could have -- it has to have boasted.

Both of these guys thank you thank you.

Load More