FOR THAT.
HILLARY VAUGHN, CAPITOL HILL.
GO TO THE "WASHINGTON EXAMINER,"
EDITOR-IN-CHIEF, BIG CHEESE
THERE.
FORMER EDITOR-IN-CHIEF OF
"THE HILL," MUCH, MUCH MORE.
HUGO, GREAT TO HAVE YOU AGAIN.
IF THIS PROGRAM GOES BY THE
WAYSIDE, TAX CREDITS, ARGUMENT
FROM EMPLOYERS LOOKING
DESPERATELY FOR WORKERS THIS
WILL PROVIDE THAT OPPORTUNITY.
DO YOU THINK IT WILL?
>> YOU KNOW, SURE, TO THE EXTENT
THAT IF YOU PAY PEOPLE TO, WHEN
THEY ARE NOT WORKING IT IS
OBVIOUSLY, WHATEVER THE PROGRAM
IS, IT IS A DISINCENTIVE FOR
THEM TO GO BACK TO WORK.
IT IS CERTAINLY THE CASE THAT
THIS EXTENDED CHILD TAX CREDIT
IS A DISINCENTIVE PARTICULARLY
WHEN COMBINED WITH OTHER WELFARE
IS A DISINCENTIVE FOR PEOPLE TO
JOIN THE WORKFORCE.
SO, YEAH, I’M SURE THAT IF IT
WERE CUT THERE WOULD BE MORE
PEOPLE FLOWING BACK INTO THE,
YOU KNOW INTO THE WORKFORCE.
THERE ARE 11 MILLION JOB
VACANCIES AT THE MOMENT, WHICH
IS NEARLY DOUBLE THE NUMBER OF
PEOPLE LOOKING FOR JOBS.
THERE IS A NEED TO INCREASE THE
LABOR FORCE.
EVEN IF EVERYBODY LOOKING FOR A
JOB GOT ONE, IT WOULD NOT FILL
ALL THE VACANCIES.
I HAVE DON’T THINK THAT IS THE
BEST WAY OF LOOKING AT IT, NEIL.
IF CONGRESS WANTS TO PASS THE
CHILD TAX CREDIT, IT COULD DO IT
TOMORROW.
IT COULD DO IT THIS AFTERNOON.
THE TROUBLE IS, WHAT HAPPENED
THE DEMOCRATS PUT IT INTO THE
BUILD BACK BETTER BILL.
IT IS A WAY OF TWISTING THE ARM
BEHIND SENATOR JOE MANCHIN’S
BACK.
WHAT THEY WANT TO DO IS TRY AND
APPLY MORAL GUILT, MORAL
PRESSURE FOR PEOPLE TO PASS
THIS.
THIS IS ONE OF THOSE HARD CASES
YOU DON’T WANT TO CUT CHILD TAX
CREDIT OVER CHRISTMAS OR BE SEEN
TO BE DOING IT.
IT IS AWARE OF THEM USING THAT
AS LEVERAGE TO BUILD BACK BETTER
BILL PASSED WHICH IS $5 TRILLION
OF EXTRA SPENDING.
I THINK THAT JOE MANCHIN KNOWS
THAT THE BUILD BACK BETTER IS
SPRAYING FISCAL GASOLINE ON THE
INFLATION FIRE.
HE WILL NOT BE FOOLED BY THIS
KIND OF FRANKLY RATHER CYNICAL
TACTIC BY THE DEMOCRATS OF
PUTTING THE CHILD TAX CREDIT
INTO BUILD BACK BETTER.
NEIL: DO YOU THINK THAT BUILD
BACK BETTER WILL GET A VOTE THIS
YEAR, LET ALONE A PASS?
>> YOU KNOW CHUCK SCHUMER
PROMISED THAT IT WILL.
YOU KNOW IT IS DIFFICULT TO SEE
HIM GOING TO A VOTE WHICH HE
KNOWS HE IS NOT GOING TO WIN.
SO UNLESS JOE MANCHIN AND
PERHAPS TO A LESSER EXTENT
SIGNALS RIGHT FROM KRYSTEN
SINEMA, UNLESS THEY KNOW THEY
WILL GET 50 DEMOCRATS TO VOTE
FOR THIS, TO HAVE KAMALA HARRIS
YOU KNOW, CAST HER TIE-BREAKING
VOTE AND PUSH THIS THROUGH, I
DON’T SEE HIM SETTING THIS UP
FOR FAILURE.
I GUESS THERE IS A CHANCE IF
THEY ABSOLUTELY BELIEVE THEY’RE
NOT GOING TO GET IT DONE, THEY
JUST WANT TO PUT REPUBLICANS ON
RECORD VOTING AGAINST IT, BUT
YOU KNOW, THAT IS PRESUPPOSES
THE PUBLIC SUPPORTS THIS.
THE PUBLIC PUT THE ECONOMY AT
THE TOP OF THEIR LIST OF
CONCERNS AND THEY KNOW THAT
INFLATION IS PINCHING.
THEY KNOW THAT EXTRA SPENDING
WILL PUSH, PRODUCER PRICE INDEX
WAS UP BY 9 POINT SOMETHING
PERCENT.
THAT WILL FEED INTO MORE HIGHER
CONSUMER PRICES FAIRLY SOON.
THE PUBLIC KNOWS THIS.
THEY DON’T PARTICULARLY WANT
THIS FISCAL SPLURGE BY THE BIDEN
ADMINISTRATION.
NEIL: ARE YOU SURPRISED
CONSUMERS ARE SPENDING TO THE
DEGREE THEY ARE?
I ALWAYS ARGUE, TALKED TO YOU
BEFORE, INFLATION STOPS, WE STOP
PAYING HIGHER PRICES AND WE’RE
NOT DOING THAT.
I WONDER HOW LONG THIS GOES ON?
>> YOU KNOW, I DON’T SUPPOSE
THERE WILL BE ANY RESTRAINT ON
SPENDING BETWEEN NOW AND
SOMETIME IN THE NEW YEAR.
WHEN THE CPI COMES OUT I THINK
MORE THAN 7%, IS MORE THAN THREE
TIMES THE SUPPOSED TARGET.
PEOPLE ARE FEELING THE PINCH.
WHAT HAPPENS THEY’RE GETTING A
PAY CUT FROM THE BIDEN
ADMINISTRATION.
WHEN PEOPLE GET PAY CUTS THEY
START TO RETRENCH.
AT SOME POINT THAT WILL HAPPEN.
EXACTLY WHEN I CAN’T REALLY
SPECULATE.
NEIL: I WOULD BUY YOUR SPECULATE
OVER ANYONE’S.
NEXT TIME YOU WANT TO COME HERE