You're watching...
Rep. Tim Huelskamp, (R-Kan.), and Harvard Economist Jeffrey Miron and Daily Beast Columnist Kirsten Powers on what is needed to boost economic growth.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Wow OK well I that's for another -- in disgust.
-- in the meantime -- I Jeff I wanna get back to yield because the present says something very interesting about I think I think he was reference saying.
How he perceived.
The republicans' point of view on what's going out right now what needs to be done here's the president on deficit reduction.
Let's be clear.
Deficit reduction alone.
Is not an economic -- -- growing economy the craves good middle class jobs.
That must be the north star that are guides our efforts.
I think what he's saying is you know the Republican plan it's -- Yet stingy it doesn't go far enough it has no -- -- deficit reduction is not an economic plan how do you analyze it.
Well I first of all we should focus not just on the deficit we should focus separately on spending and taxes.
The president wants to spend a lot more.
Democrats broadly want to spend a lot more of course that's going to increase the deficit I misspoke a moment ago when I was trying to talk about that.
-- that is just no way.
That his plans all add up because he's talking about much higher spending he's not gonna get you know the tax revenue that he thinks.
From the -- that proposed increases.
And so it's just.
He's the finest -- it is -- at every site go ahead.
Yeah hi I just think that this is sort of an implied.
Criticism per cent of the Republicans.
That there planned just has no vision and it's all about cutting its really unpopular because boy nobody's getting any extra doubt.
What do you make an -- of that comment.
Well I think you're her sends -- yet now I -- not I would.
If that was his implication I would agree with out I don't think that the Republicans have any grand vision that neither does the president.
So you know but both of them are -- to sort of speaking at the two sides of the same point you know one side thanks to cut cut cut you know that's the solve our problems and other side things just -- -- generates taxes and that's gonna solve our problems.
And neither are right.
You know and so I think it what is implicit in what he said was that he's going to but as you said earlier make up.
All what ever rat you know money he needs through raising taxes and I just don't think -- back again is is -- -- economic plan I have I don't I don't try and all that hysteria over the deficit.
In the short term I I don't think that you know we need to raise -- that the -- Well had congressman deal.
What is the right economic plan what would work.
Fellow Republicans should be about a vision and the vision is about growth and opportunity and freedom and -- I was and how small business committee today we had a hearing at a small businessmen they're sent obamacare.
That's custom -- jobs because he's not gonna create four new businesses.
It's an even more regulations higher taxes the vision is get Washington out of the way they can get big government now the -- that is a real mission.
In the end result if you get him out the way we reduce the deficit we get that economy growing again.
When we have more revenues coming in the problem is president Obama's -- more than -- coming in and that's that's the problem it's bigger government -- probably its option is so.
Any problems Jeffrey Miron TO billionaire taken this afternoon what would be the total tab and I mentioned -- number in the lead and some 160 billion dollars.
For all the programs that the president wants to put in place.
What would be the net effective -- do you think on the economy if we had to spend that much might money more again to stimulate this economy would -- work.
I don't think it'll work because I think the programs in question along with a whole range of existing programs.
Actually reduce the efficiency the productivity of the economy they interfere with the private sector.
They require taxes to be raised in the future pay for -- -- -- taxes cause distortions and discourage activity.
So I think it's exactly backwards we need to be doing is cutting spending and keeping taxes low -- the reverse of what the president wants.
-- -- what about all of this class warfare we've heard it last night it is so tiresome listen to this.
To hit the rest of our deficit reduction target.
We should do what leaders in both parties have already suggested.
And save hundreds of billions of dollars by getting rid of tax loopholes and deductions for the well off and well connected.
Well off well connected person I've heard it all before.
So this -- ever get tired -- just knock in on the rich hitting their rich the well they wouldn't.
Say.
I think that it's find -- expect that very while they to not happen all the loopholes that they -- and I think that.
I don't because I don't see that -- class warfare you know I think that I guess I don't I don't rhetoric.
I'm talking gap between rhetoric for the Republicans have agreed with even what he sat in and -- would that they've agreed that we could close some of those loopholes and you know I don't I don't think that.
I just have never really seen this is class work.
There well had congressman the yield does its lack of class warfare to you it sound like it over and over again the president returned to this thing why can't the rich -- -- the rich should pay more.
Well connected well to do they were almost.
Yeah.
That that the word that's it -- that's a description of all his major donors.
You know that's the -- description of -- Warren Buffett -- about a billion dollars behind on taxes.
It's a description of -- he wants the Treasury Secretary who hid money in the Cayman Islands for himself and Citigroup and had a million dollar bonus a few years ago those -- the well to do Americans look and say happy.
So where's the empty rhetoric effect coming now the president.
Well -- let's talk about -- and -- Jeff -- you ocean blue run treasury.
Well I mean you know who.
The president's gonna pick someone who shares his policy vision every president's entitled to what actually little experience.
-- of people have been Treasury Secretary had experience they did a miserable job they're people who didn't mean.
If the president's tech guy at the end of the day I didn't complete disagree on policy but it's his cabinet he should have whatever person you want that's that's something else.
Is highly controversy -- in this embarrassment with the Cayman Islands Kirsten.
This is going to be hard to put away I think this will be something the dogs him.
Throughout his time in office that he does in fact become Treasury Secretary what he said.
Well you know I don't hike and look at -- has such a short memory in Washington I doubt it will dog him.
But I think that in you know it just eat you -- it's hard to match.
You know it.
The behavior of his nominee with president's rhetoric about other people like that -- -- -- That he is constantly sort of deriding.
Other people who have a Cayman Islands accounts and yet he had in out.
Has somebody and he wants -- -- -- run on battery several hours some people of different roles for our people our banks.
They get away with everything.
I it was it was a fascinating speech and -- that -- seeing analysis today congressman thanks for coming on it's always good to see you and a little economic insight from Jeff.
Great stuff guys thank you so much for helping out and I and I and here.
