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We turn to congressman Mike Pence who recently gave up his leadership post of the Republican party for what might be a run.
For the presidency good to see a Mike Pence thanks for joining us are -- running for president thank you David.
Well -- we've been very humbled by the encouragement we received to seek higher office in Indiana are even.
On the national stage so my little family and are gonna take the next couple months then we're -- personally consider our options and will we'll let you know sometime after the first of the year all right well well while we here at Fox Business focus on businesses and and what encourages them and what discourages them.
The entire concept of of weakness.
Is sort of the perception.
Of America it's a weak country bothers us greatly doesn't it bother you as well.
Well I I was very moved by some in your opening remarks in the way -- synthesize.
And number of of these recent stories and I think -- it is very troubling.
Two to see.
Of American decline we have the Federal Reserve -- printing money is.
As a means of fiscal policy which is not traditional.
Monetary policy and developed.
Countries around the world and and the international response to that the international.
Response to our inability.
To put our own fiscal house in order I think does suggest.
Does suggest a declining American reputation but it doesn't have to be that case.
I'm gonna be headed up to Detroit Economic Club in about a week.
And we're gonna -- and using some timeless.
We're gonna lay out an agenda for really getting this economy growing again.
And setting America on a pathway toward a boundless American.
Economic future we put our fiscal house in order we get this economy moving again and that will remind the world why this is the freest and most prosperous nation in the history of the world.
You know it has happened before this perception of weakness I think back to -- late seventies I remember very well we have the limits to growth all the people fretting about the population bomb that we had.
Of course a terrible policy overseas where we saw Iran go down to the Ayatollah -- and Central America go to the Communist so we've been there before of course it did take a great leader in the person of Ronald Reagan -- To pull the country back up to work -- performance it should get.
What do you think he'd -- dead that we could learn from now.
Well you know I think of Ronald Reagan were standing here he would say it didn't take a great leader.
It took a great people.
I think because sometimes Washington DC.
Forgets what makes America great to good but the American people the American people never do and Ronald Reagan I was in his.
Company once in about 1988 at the close of his administration I was one of the people in the room that it thanked him.
For what he done for the country and he looked at me and he said.
You know I don't think I did anything for America -- that I think America decided to right the ship and I was just the captain they put on the bridge but the American people how to get this economy.
Move and again and that is not with more spending and more takeovers and more deficits.
And more bailouts.
It's like given Americans more of what they -- it's about practicing fiscal discipline it's about.
Regulatory reform cutting red tape on small businesses about expanding trade it's about sound monetary policy.
We get back to those basic principles David.
Just like Ronald Reagan did a back in 1981 in 1982.
And you'll see this economy in this country come roaring back you know I'd say it is.
-- great point that the best leaders that we've had in this country are ones.
Who sort of stepped aside not sort of pulled us up but -- loud.
Americans whether they're entrepreneurs or whatever they did did to come up and tried it.
We hear so often from small businesses when we say what would you like the government to do for you which they say nothing just get out of our way.
It's one of the reasons Jim -- denied today.
Introduced in the house and the senate a bill.
That would make all the current tax rates permanent you know Washington is all busy arguing over do we do we allow some of so they like to call on tax cuts.
To remain in some it with the American people would dissent is.
Just tell us what the rules are going to be in the long term and businesses large and small will be able to adjust.
And make investments and create jobs it's the uncertainty coming out of the aggressive.
Liberal agenda here in Washington DC.
That has so many businesses holding back that number you've you've had -- on fox -- a lot David it's more than two trillion dollars in American.
Corporate profits that are on the sidelines.
And all Washington is doing is more government more spending more -- more taxes.
And then chastising business is about why they won't get that money back into play right well I.
It's the meddling it's a meddling in does that leave the idea that folks inside about -- -- better how to operate a business in Cincinnati say -- the people they are -- And -- of course you mentioned the Fed before another thing to Ronald raid was big on is a strong dollar the Fed continues to try to manipulate.
The currency in order to get us out of her -- trouble instead of just making the dollar strong and then moving back.
I think it's a very real concerns senator Bob Corcoran.
I introduce legislation yesterday that would end the dual mandate.
Of the Fed you know the -- established back in days after the depression had one mission.
And that was to ensure a strong dollar and to fight inflation.
And in 1977.
Congress gave the Federal Reserve a dual mission said said not only -- stable prices.
But also full employment and now in the name of full employment.
This QE2 business comes the latest round of quantitative easing where they're literally printing 600 billion dollars flooding it.
Into the economy in the hopes in some way of affecting on what we ought to get the Federal Reserve.
Back in two single mandate posture focus on preventing inflation.
In in promoting price stability and then demand that we here in Washington DC do the kind of things that are going to be necessary to get the economy moving again.
We have to run but before you go I got to ask -- the tax question do you think they are going to solve the issue of how much tax rates will be going into the future.
Before or after this new congress comes it.
A look I promise you if if if Harry Reid and Nancy Pelosi.
Bring the legislation.
That Jim -- and I offered today making all the current tax rates permanent to the floor.
I believe it would pass it couldn't pass the house.
I can say for sure and I'll bet it would pass the senate but -- it but at this this whole push me -- you the American people are done.
With the politics in the rhetoric of class warfare.
They want Washington DC to establish certainly in the marketplace that begins by saying that no American not now not two years from now three years from now.
No small business or large is gonna see a tax increase and we're gonna fight on that principle congressman Mike Pence we love it if you announced your run a run for the presidency on scoreboard whenever you're ready we're we're ready to have you back up -- -- -- purveyors that are.
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