it's a major fight over who will be
better for the u.s economy
president trump hoping to boost his
chances after record gdp numbers
the economy growing by more than 33
percent
in the third quarter but it has not
fully recovered from the pandemic
meanwhile joe biden's calling the
numbers not nearly enough
he and the president arguing over who
can best bring the country back
take a look we created the greatest
economy in history and now we are doing
it again
his policies would create a depression
and he wants you to surrender our
country
that's what he wants to do he wants you
to surrender our country to china
to all of these other countries when
barack and i left
office we left donald trump a strong
economy
stronger than the one he handled and
just like
just like everything else he inherited
he blew it
now he's squandering that economy
uh dana that you know it's that's just
great news for the american economy
and i i think it's a record number i
believe it's a historic number in terms
of the size of the
comeback but looking forward you know i
noticed that wall street is down about
10 percent since uh
september the start of september and we
have
you know more of the possibility of a
lockdown looming so people are nervous
so how does the what's the politics of
this how does this play out in your mind
well i think before you look forward i
do think it is worth looking back just a
little bit and when the president
agreed to shut down the economy for the
well-being of american citizens
and the congress passed that stimulus
bill and they got those ppp
loans out they got to stimulus checks
out that obviously had
a very important impact and we would not
be seeing this kind of gdp number
if you hadn't had that kind of immediate
cooperation between the president and
the congress to get that done quickly
and now i think one of the reasons that
you're seeing some concern going forward
is that
the democrats have squandered all of
these opportunities to try to get some
legislation done
before the election and remember nancy
pelosi had said
she was like okay if it doesn't get done
before the election i think that
that is unconscionable i think that joe
biden should have pushed his democrats
to try to get it because look
if he were to win he's going to need
this money to be out there sooner
at this point without any agreement
you're going to have all of these
business owners going into the winter
having no help from the federal
government probably until february and i
think that is outrageous
we've already seen that the policy that
the president put in place
can work we should continue to do that
greg unemployment numbers look like
they're still pretty high especially in
those rust belt states
so working people are still struggling
obviously
how does how do these terrific gdp
numbers in the third quarter play out in
your mind
well uh you know what gdp stands for
grateful
that donald's president uh smart people
knew this would happen
it was an artificially induced
depression uh so it's
what's so amazing our economy is like
the eighth wonder in the world
you can turn it on and off like a spigot
especially
i mean think about what it's withstood
pandemics coupled with sanctioned
isolation and riots and crime
and yet it's roaring back and it will
continue to roar back
it does raise three questions that kind
of troubles uh
like uh my mind is that we so far six
trillion dollars we've thrown at this
printed a lot of money
yet number one we have no inflation
which means
why don't we have a year-long tax
holiday because that puts in 2.5
trillion into the
into the government's hands maybe they
don't need it and number three
if deficits don't matter as long as your
economy is strong
what does that say it kind of like blows
my mind
i think we're learning some really weird
lessons with this pandemic and this
shutdown
jesse uh you know a lot of a lot of
people remember
james carville saying it's the economy
stupid
but what we're seeing in this campaign
is that even though the president for
the longest time had an advantage on
that
issue now it's about tied with biden uh
people were nonetheless saying you know
it's the division you hear this from the
biden campaign it's the division it's
the chaos and that's what people are
paying more attention to
no he still has quite a clear advantage
on the economy and juan you slipped up
at the top man
you said lockdowns are looming well
they're only looming if joe wins there's
not going to be lockdowns
if donald trump wins i i think the biden
campaign might be a little angry that
you said that and let that cat out of
the bag
um listen this recovery is four times
faster now than the obama biden recovery
it's a v the charts don't lie just take
a look at the graph
and if democrat governors in new york
california and the rust belt would fully
reopen their economy
we could all get back to where we were
before juan you talked about the people
with
high unemployment those are people in
the rust belt and every single
rust belt state is governed by a
democrat so they need to
reopen their economies fully this is
being recovered by
consumer spending people are actually
going out and shopping
they're going out to dinner again and
that's good they're building homes
manufacturing is up
new home construction is up housing's up
it's a very good thing and just
internationally
the united states economy has contracted
the least and has rebounded the fastest
of
all major western economies and that is
a great thing competitively
so katie uh i just wanted you to wrap
this up but i
i do think that as just as people are
concerned about economic growth they're
also worried about the pandemic
and of course the pandemic and resolving
that issue is closely tied to resolving
and reviving
the economy how do you see that playing
out in these last few days of the
campaign
well the president's arguing that you
can do both at the same time that you
can open up the economy with safety
measures and also work on
the vaccine and other therapeutics when
people do get sick and joe biden is
talking about shutting down
the country and when you look around and
you do see people opening their
businesses
traveling it's hard to imagine that
you're going to tell all those people
that they can no longer go back to work
we saw that in new york
city with the restaurants suing governor
cuomo and bill de blasio arguing that
you know they have to have a plan for
the winter time and all these lockdown
measures are
too severe and going to ruin their
businesses and i also think it's
important to look back
and remember that the economy is now in
recovery in the way it is now
because it was so healthy when we went
went into this it was a healthy patient
that took a blow from the pandemic but
if it hadn't been
as healthy as it was albeit with a huge
infusion of taxpayer money and
government stimulus
we'd be in a far worse position when it
comes to it bouncing back so quickly
okay