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-- another one and had three dollars -- the residences -- Bavetta the Congressional Budget Office warning lawmakers it -- slow on all this big spending cut talk.
Changes of the magnitude that will ultimately be required could be disruptive.
Therefore congress may wish to implement them gradually.
So as to avoid a sudden negative impact on the economy.
All right so a guy who agrees with the CBO tinted the volunteers that would economic policy its acidity -- unions say that there is some -- so that explain.
I think absolutely look I think it's it's very rare for the Congressional Budget Office to actually issue anything even close to recommendation so I think -- is somewhat unprecedented and I think this is really reaction to.
What happens yesterday.
When the house Republicans voted to cut 20%.
Off of the domestic discretionary budget and I think what the -- Congressional Budget Office is saying look that will really endanger the economic.
And recover but it that I mean let's not worry about these guys getting to break here and doing too much I think it is safe to say that that is not a worry we should that.
I think we're in a jobs crisis right now look were were eleven million jobs in the hole just to get back -- unemployment levels were were before the recession.
And I think congress doing nothing at this point is much is you know is not acceptable I think we need to actually be doing more.
And here you've got the house Republicans saying we need to be doing not just a little last but substantially lots.
Yeah but if it it's -- -- spending -- answer to move the jobless rate wouldn't have been nearly doubled to right I'd be so so that particular Dogg in hot.
So how many got another dog or -- -- -- Well you might need to find other Congressional Budget Office director because what he was saying specifically.
Was that precipitous drop in spending.
Will create we yell will endanger the economic recovery he is actually equating with -- DDD spending investment levels that we desperately need.
And right now I -- sort of is is the Q and -- there and -- -- is that what that I would have asked if this does is simple you know you know business thanks.
Do you factor in mr.
That money being taken out of the public sector and supposedly being made available to the private -- and it would have been a very simple.
Question to raise because yeah just my basic knowledge of economics tells me money out of the government's hands and in the -- and and the private sectors and does a lot more good.
Nye EI take it completely agree.
In you know in principle the problem here is -- -- first off the the Congressional Budget Office -- does take that into account so I can tell you straight up.
Decided on a dozen news that it doesn't -- -- -- -- You know he's -- it out I was docked to the system.
And I believe me I can understand that you know you the last he'll want to do is something you assume is goes in the economy.
You hit it real hard and all of a sudden -- got -- -- I'm not face directed see where it's coming.
But I don't think anyone ever factors and when you do when you when you do you mean.
The American people the American people find alternatives businesses find less of a cumbersome environment and away we go.
We'll all -- -- in the long run that may be true but my point here is it in the short run.
You'll private companies are sitting on trillions of dollars of reserves right now and they're not spending and the reason is because they aren't enough consumer demand so it is not -- Clearly they did it live and let your your -- bosses are like you would be an army day.
-- they spend and are optimistic they don't when they're not they spend when -- -- very -- today -- you know there weren't right now so and reality is they don't see an environment.
Where the government's going to do in practice you know not crowd -- capital.
Not have more regulations not provide more taxes now that when they got inkling that that a couple of those things might be gone by the wayside.
They started I would I find -- rather unusual there.
Young there's actually surveys on this for -- actually surveyed business owners nasty.
You know what -- what preventing you from hiring and the number one thing is lack of consumer demand they need consumers for their goods and services that is the thing that's holding -- I don't know how well a lot of things that TJ Rogers Cypress Semiconductor -- It's up to finally be -- just last week the week before -- -- time it again to a CEO man or woman the same reaction.
Neil I had some clarity I don't watch if I knew I spent my tax permanent I knew that regulations would be a nightmare.
If I had some sense of constancy.
Sure I'd open up to speed and some of them not all of but some of them are doing just that because they're encouraged I'm not -- or blaming anyone I am saying though that.
The direction the president has provided since the lame duck session when he extended the bush rates when he's allowed himself to be open to cutting back regulations what he started -- with CS starting hearing their gripes.
It is no accident the did things have been improved at all I'm saying keep that going keep that don't.
I -- I would say -- I would agree that the that the tax package back in December was a good idea but I think.
Most of the bang for the buck that you saw from there really was coming from the payroll tax holiday which is very similar to the making work pay tax credit.
There was expired in -- wish that congress had done making work pay tax credit instead -- other Republicans didn't want President Obama to have some sort of signature win south.
I don't think I mean he got to win anyway and getting this thing approved I don't I really don't think this is about opposite may be on Jimmy Stewart later -- -- I really they -- both worked together during that session and they both -- you're you're less cynical man on man.
Okay believed and I still like it was a -- -- thank you very much let -- get a.
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