all eyes on joe biden today as he
unveils his stimulus plan
and we're hearing that it could cost
somewhere in the ballpark
of two trillion dollars for more on that
plan let's bring in our panel washington
times
opinion editor charlie hurt and former
obama economic advisor
robert wolf robert what can you tell us
that you know about this plan
because it looks like he's going to go
big
well first the timing couldn't be better
because as numerous economist says
there's no economic
health without public health we're
having the pandemic spiral out of
control
one in five jobs i mean one in five
businesses are closing
and today's jobless numbers were
horrendous we have
18 million people seeking unemployment
assistance
so it has to be big it has to be bold it
needs more direct payments it needs food
and security
we need to help state and local
communities with emt and health
and listen we're in dire we're in dire
straits right now and
there is no super v-shaped recovery that
this trump administration
talked about non-stop it's just the
opposite
well he uh bernie sanders is teasing his
his power ahead of the senate budget
committee charlie
this is the political headline
aggressive bernie sanders on his big
plans
as budget chair and he is really teasing
his power
influence in this interview saying quote
i'm going to use reconciliation
in an aggressive a way as i possibly can
to address the terrible health and
economic crises facing
working people today so two trillion
dollar plan
just how big may bernie sanders go with
this
yeah well this is the the perennial
problem with washington is that they
believe that the federal government has
the answer to all problems
of course it's not in fact it's usually
part of the problem government is often
part of the problem
one of the reasons that the economy is
in such uh is so threatened right now is
because of the
the government mandated shutdowns around
the country which is a very bad
uh a bad uh and you know why we're
spending this time talking about
impeachment by the way
instead of dealing with some of those
issues is sort of beyond me but the idea
that that was a very alarming interview
with uh with bernie sanders you know the
whole point of budget
reconciliation is it's it's a tool to
make small tweaks
to budgets to uh that goes around the
normal
uh governing process the idea that
bernie sanders wants to use
a tool like that to run roughshod over
the minority which isn't even the
minority by the way it's a 50 50 senate
but to run over the minority as opposed
to building a coalition
in order to give free health care to
illegal aliens is
a you know that tells you all you need
to know about where these people are and
what their p
what these people are willing to do and
whose rights they're willing to trample
on
in order to get their agenda through and
of course it's why they forever
loved using the courts to get their
crazy agenda through
um the the good news is that we have
elections every two years
and if they do this kind of stuff in two
years they'll pay a grievous price
robert he's not the only one calling
this potentially crazy axios this is hot
off the press's headline this morning
biden's radical economic agenda
and it's really digging into who he's
assembling for his team here
with the expected nomination of wall
street foe gary gensler is the new head
of the sec
sharon brown the incoming head of the
senate banking committee
axios writes biden's going to attempt to
chart an economic policy
that's visibly to the left of bill
clinton and barack obama
if he succeeds they're warning that your
taxes are going to go up those
regulations are going to be put back
in place that significantly improved the
state of the economy
economy pre-pandemic are we going to see
joe biden's economic policy
left of bill clinton and barack obama
robert
so first i just have to go back charlie
couldn't be more wrong budget
reconciliation
was used by trump for tax reform so the
idea that it's for small things is
absurd
now just to go joe biden and and uh
bernie sanders want to be like donald
trump
which is crazy on budget reconciliation
just to be clear they were wrong trump
used it
they were though but so just to be clear
reconciliation used for
okay with respect budget reconciliations
used all the time
with respect to the buildback better
plan we need infrastructure
we need a huge infrastructure package
and it should be bipartisan
trump had i don't know 20 infrastructure
weeks that never got anything
done it is the fastest multiplier of gdp
and wages
robert go back to the point go back to
the point that you're talking about how
just how dire this economy is how many
people are out of work how many
struggling americans there are those
that are working are having a hard time
making ends meets
and this administration is talking about
raising taxes
robert uh just to be clear they're not
looking to raise anyone's taxes that
makes over four hundred thousand
seconds let me finish if we make if you
make 800 000
your taxes go from 25 to 25 and a half
percent
and by the way i'm not even sure that
will pass okay so charlie
i'll put the question i put to robert
because i'm running out of time are we
going to see an economic policy from
this incoming administration
left of bill clinton and barack obama
yes
yes and this is exactly the problem with
having somebody as president
who never ran a campaign who never said
anything that he's going to do
or wants to do and i'm sure that if it
were left up to joe biden joe biden
probably wouldn't pursue some of this
stuff
such as free health care for illegal
aliens uh but
you have this this codery around him and
because he didn't make
he doesn't have a mandate because he
didn't run a campaign that said this is
what i'm going to do
all of these people are going to rush in
and and to take all their crazy ideas
like free health care for illegal aliens
and they're going to ram it through and
the only way they get it through is
through
improperly using something like budget
reconciliation because they can't get
okay
i'm running out of i'm running out of
time hold on robert
robert final question to you hold on
hold on
but answer one of my questions because
you didn't answer the last one final
question though
is this biden's plan or is this bernie
sanders plan because in addition to that
this administration is going to pursue
15 minimum
federal minimum wage they're going to
strongly support the labor unions which
were two of the key pillars of sanders
presidential campaign
is this bernie sanders plan or bidens
it's the biden plan
and the buildback better plan is the
biden plan you guys should read it the
idea that he didn't campaign on it
really because moody's warton economics
everyone said it was the best economic
plan out there
i will send you the plan you guys should
put it out robert thank you for joining
us charlie good to see you
we'll have you back thank you good to
see you all right