>>> IF WE KEPT THE SAME INTEREST
RATES AND THE SAME QUANTITATIVE
EASING THAT THE PREVIOUS
ADMINISTRATION HAD, THAT 3.2
WOULD HAVE BEEN MUCH HIGHER THAN
THAT, BUT THEY HAVEN'T HIT THESE
NUMBERS IN 16 YEARS.
>> AMERICA'S FUTURE HAS NEVER
BEEN BRIGHTER AND YET DEMOCRATS
HAVE NEVER BEEN ANGRIER.
NEIL: NOW YOU KNOW WHAT'S BEEN
THE PRESIDENT'S STRATEGY WHEN HE
CAN TELL A GROUP OF STRONG NRA
MEMBERS AND PROPONENTS THAT
QUANTITATIVE EASING HELPED THE
LAST PRESIDENT.
THE REVERSE OF THAT IS HURTING
THIS PRESIDENT.
USING THAT TO AN AUDIENCE THAT
APPRECIATED WHAT HE WAS SAYING
EVEN IF SOME OF THEM MIGHT NOT
HAVE UNDERSTOOD WHAT HE WAS
SAYING BECAUSE IT FLIES OVER A
LOST JOURNA
LOT OF JOURNALISTS' HEADS, THOSE
THAT COVER THIS FOR A LIVING,
THAT MAYBE IF WE KEPT RATES AT
OR ROUGHLY WHERE THEY WERE WHEN
BARACK OBAMA WAS PRESIDENT AND
ALLOWED FOR THE SPARK YOU GOT IN
THE ECONOMY FROM TAX CUTS, WE
WOULD BE A LOT BETTER OFF NOW.
IT'S AN ARGUMENT THAT HAS NO
IMMEDIATE ANSWER.
HE'S THROWING IT OUT THERE.
I WONDER IF MY NEXT GUEST IS
BUYING IT.
SENIOR ECONOMIC ANALYST MARK
HAMRICK.
ESSENTIALLY WHAT HE'S SAYING,
THESE TAX CUTS, WE GOT A LOT OF
BANG FOR THE BUCK BUT WOULD HAVE
HAD MUCH MORE BANG FOR THE BUCK
IF WE HAD THE SAME ENVIRONMENT
BARACK OBAMA ENJOYED, WHERE A
VERY ACCOMMODATIVE FED WAS IN
PLACE AND THEY WERE BUYING UP
ANY TREASURY NOTE OR BOND THAT
WAS OUT THERE AND KEEPING RATES
VERY LOW.
WHAT DO YOU THINK OF THAT?
>> IF I HAD CHOSEN MY PARENTS, I
WOULD HAVE BEEN A BILLIONAIRE
RIGHT NOW.
YOU KNOW, I FIND THIS A LITTLE
CONFUSING, TO SAY THE LEAST.
IS THE PRESIDENT WISHING THAT
WHEN HE CAME INTO OFFICE THAT HE
WOULD HAVE BEEN HANDED WHAT
BARACK OBAMA WAS HANDED WHICH
WAS JOB LOSSES ON THE ORDER OF
700,000 AND 800,000 JOBS A
MONTH?
HE IS THE ONE WHO ASKED JANET
YELLEN EFFECTIVELY TO LEAVE, AND
HE IS THE ONE WHO NOMINATED
JEROME POWELL.
SO YOU KNOW, WE CAN ALL TRY TO
CONSTRUCT --
NEIL: HE SAID HE REGRETTED THAT
DECISION.
NOT SO MUCH GETTING RID OF JANET
AS MUCH AS HIRING JEROME.
TO YOUR POINT, AND THE PARENT
STORY THERE WHICH WAS A
BRILLIANT ANALOGY, IS IT THE
SAME PRESIDENT DOING THE SAME
THING ALL OVER AGAIN BUT WITHOUT
INTEREST RATE HIKES IN THE
INTERIM JUSTIFIED THOUGH THEY
MIGHT HAVE BEEN, WOULD WE HAVE
SEEN HIGHER GDP FIGURES IN THE
ENSUING PERIOD?
>> WELL, TO ANSWER THE QUESTION
DIRECTLY, SURE.
IF YOU HAD POURED JET FUEL ON
THE FIRE, THE FIRE WOULD BE
LARGER.
UNFORTUNATELY, YOU MIGHT ALSO BE
BURNING SOME THINGS DOWN AND
HAVE COLLATERAL DAMAGE.
NEIL, OBVIOUSLY THIS IS IN THE
CONTEXT OF THE WARMUP TO THE
CAMPAIGN WHICH HAS ALREADY
BEGUN.
NEIL: EXACTLY.
>> SO AS ONE WHO COMES FROM THE
NATION'S MIDSECTION MYSELF, AS
ONE WHO HAS A WIFE WHO HAILS
FROM UPSTATE NEW YORK WHICH
CONTINUES TO STRUGGLE, I DON'T
KNOW THAT THIS IS SOMETHING THAT
IS GOING TO BE A COMPELLING
ARGUMENT FOR PEOPLE WHO CONTINUE
TO ASK WHERE IS MY ECONOMIC
RECOVERY AND THERE'S NO DOUBT
THE 3.2% GDP NUMBER THIS MORNING
AT FIRST GLANCE WAS VERY
IMPRESSIVE.
BUT YOU KNOW, THIS DOESN'T
CHANGE THE REALITY FOR THE
PEOPLE WHO HAVE NOT ENJOYED THE
EXPANSION AND --
NEIL: THE PRESIDENT I THINK IS
SAYING, YOU CAN HELP ME WITH
THIS BECAUSE YOU KNOW YOUR STUFF
HERE, THAT MORE PEOPLE ARE
ENJOYING THAT REALITY THAN HAD
BEEN, AND GIVEN THE RECORD LOW
UNEMPLOYMENT LEVELS AMONG SO
MANY KEY DEMOGRAPHIC GROUPS
INCLUDING TRADITIONALLY
DEMOCRATIC ONES, I THINK HE WAS
TRYING TO POINT THAT OUT, YOU
ARE VERY FORTUNATE TO HAVE ME AS
YOUR PRESIDENT.
THIS IS THE BACKDROP THAT I
PROVIDED AND THESE OTHER GUYS,
THE DEMOCRATS, HE FOCUSED ON
THEIR INTEREST IN LETTING
CONVICTED FELONS OR TERRORISTS
VOTE, AND THEN TO TALK ABOUT THE
PARTY OBSESSED WITH GRANTING
RIGHTS TO ILLEGALS WHO SHOULDN'T
BE HERE, THEN AMERICANS WHO ARE
ALREADY LEGALLY HERE, WHAT DID
YOU THINK OF THAT STRATEGY?
I'M THE ONE MAKING THE LEAP IT
WAS A STRATEGY.
I DON'T THINK IT WAS BY ACCIDENT
WHAT DO YOU THINK?
>> I THINK YOU'RE RIGHT.
THE QUESTION HERE IS HOW MANY
PEOPLE ARE UNDECIDED ON THE
STRENGTH OF THE U.S. ECONOMY AT
THIS MOMENT.
SO I DO TEND TO THINK THE OTHER
ISSUES THAT ARE GOING TO HELP TO
DEFINE THESE QUESTIONS OR THESE
ACTIONS AT THE BALLOT BOX
EFFECTIVELY ARE NOT ALWAYS GOING
TO GO TO AM I BETTER OFF NOW
THAN I WAS FOUR YEARS AGO.
NEIL: YOU MENTIONED YOU ARE FROM
OHIO?
>> MIDWEST.
NEIL: YOUR WIFE FROM UPSTATE NEW
YORK THAT'S BEEN WAITING FOR A
MANUFACTURING TURNAROUND THAT
REALLY HASN'T QUITE DEVELOPED TO
THE DEGREE I'M SURE YOUR WIFE OR
HER FAMILY WOULD LIKE.
BUT IT WAS THOSE INDUSTRIAL
STATES, REGIONS, THAT THE
PRESIDENT WON AND GOT THOSE
ELECTORAL VOTES THAT HE SORELY
NEEDED.
HE WOULD PROBABLY HAVE A TOUGH
TIME DOING THAT AGAIN IN STATES
LIKE PENNSYLVANIA.
HE'S UP IN THE POLLS IN SOME OF
THOSE, NOT ALL OF THOSE, OTHER
STATES.
SO HE CLEARLY SEEMS TO BE
STRATEGIZING WITH HIS COMMENTS
TODAY TO ADDRESS PEOPLE IN THOSE
STATES AND TO PARLAY WHAT HE DID
BEFORE ALL OVER AGAIN.
IS IT YOUR READ FROM THOSE
STATES THAT HE IS SUCCEEDING?
>> I THINK THAT FIRST OF ALL,
THE JURY IS GOING TO STILL BE
OUT FOR HOWEVER MANY MORE MONTHS
THERE IS THROUGH NOVEMBER BUT
HERE'S WHAT I THINK.
WE KNOW THE PRESIDENT AND I
DON'T SAY THIS IN A DEROGATORY
FASHION.
WE KNOW THE PRESIDENT HAS AN
AFFINITY FOR GOLF AND HAS
SUBSTANTIAL INVESTMENTS IN GOLF.
I FEEL LIKE WHAT HE'S DOING HERE
IS TRYING TO HANDICAP HIMSELF TO
SAY YOU KNOW, IF I HAD BEEN
SPOTTED X NUMBER OF POINTS WITH
THIS ECONOMY, WE WOULD HAVE BEEN
UP TO HERE INSTEAD OF WHERE WE
ARE RIGHT NOW.
I DON'T KNOW THAT THAT GETS A
LOT OF TRACTION FOR AMERICANS
WHO SAY WELL, YES, BUT WE WERE
LOOKING FOR MORE.
IF INDEED THAT'S WHAT THEY'RE
ASKING.
I'M NOT EXACTLY CERTAIN THAT
THAT'S GOING TO BE WHAT REALLY
MAKES THE DIFFERENCE AT THE
BALLOT BOX.
IT CERTAINLY WASN'T WHAT BIDEN
TROTTED OUT IN HIS FIRST THREE
KEY ARGUMENTS, REALLY, WITH HIS
CAMPAIGN YESTERDAY.
NEIL: YOU ARE KIND OF REMINDING
FOLKS THIS PRESIDENT IS KNOWN TO
CHEAT AT GOLF NOW AND THEN.
>> WELL, I ONCE HEARD PRESIDENT
CLINTON'S NICKNAME HAD TO DO
WITH HIM SPOTTING HIMSELF A FEW
STROKES AS WELL.
MR. PRESIDENT MULLIGAN.
NEIL: I USED TO DO THE SAME IN