sis
and from new jersey welcome to the program den
accurately portrayed
prahlad about that
butter i've got a lot of this
but do you run out of top five list
i hope will keep ah... kato subject periodic
succesful requester fiscal policy i mean a lot to talk about u_k_ uh... looking
back at their uh... it out to chitral and budget cycle when they cut about
forty billion
uh... though commis three dollars for every three dollars in revenue
to get a tolerant cut level balanced approach that
what they really get with the exact opposite if you look at it of
value-added tax increase pump a tax increases promise certainly something
that no one would ever support
but um... i had to see a lot of uh...
enough to carry it over this whole requested laying out just in that
it'll be the end of the world would note that in fact we need to be more of the
plane to crash into each other pending at the capitol
too much history here
well i don't think i don't think the planes are going to crash into each
other but i do think we're gonna have longer uh... weights at the airport i
think we're going to have
uh... we're going to have people sitting on the tarmac i think um...
you can see the implications of what's gonna happen in uh... states are you
gonna see uh...
uh... two million people been out of work more than six months that they're
gonna see on employment payments dropped by eleven percent and checks in march or
april
uh... you're gonna see uh...
you're gonna see a subsidies for
energy projects in
all construction state local infrastructure projects ah... projects
and
you're going to see uh... in
in states for instance in virginia maryland and the district of columbia
human early will lose twenty nine million dollars
in elementary and high school funding
throughput uh... three hundred ninety teachers at risk when uh... you can have
two thousand poor children who they lose access to early education in that area
uh... you're gonna see a hundred fifty thousand civilian defense department
personnel uh... go on for a low they get out there and i seventy five hundred
uh... it goes on and on any grandpa domain to be a hysterical about those or
electrical your point is this is going to have
there are probably here you can make a five billion went up to forty four
twenty p o
at this particular at such a massive effect on the economy correct welland on
by the c_b_o_ numbers i do and it's gonna shave either blah anywhere from
point five
to one point five off of our growth this year
i walk it's going to have such a
but there's no question that beck that anytime you do a tax increase or cut you
will pull money out of the economy that hauling aggregate demand but with
excellent thing then to state that this is just going to have such a mammoth
effect on the economy will not too long ago i remember
you window will be some of you who befriends uh... running around trying
out the wheeler
hankering to about it
attach a marginal impact on the economy institute
balk at any significant impact
near the level needed first say employment or uh... uh... uh...
economic output
so it's really a little inconsistently go from something ten times
prepared just in a steel i don't know i don't know what the ten times smaller
you're talking about but we missed the outlet by about
uh... by about uh... five hundred billion with that stimulus
so yes the stimulus should have been baker
it's the exact same principle
when you have anemic uh... growth when you have an output gap of about a
trillion dollars now over the projected by the c_b_o_ over the next three or
four years
you need to fill that are
i know that i know the argument of her
you know it i've had the whole saying i was there a few yards in it to me
your argument that the that they need to be uh... a bigger stimulus
to uh... to uh... fill that output gap and addressed the multiplier
more directly but um... but the point is that that eight hundred fifty billion
hundred-plus billion changing spending is uh... well first of all this phyllis
was not as good and then we'll have that was tax cuts
or a third of that was tax cuts in the rest of it was spending
and the tax cuts yes they function in some way as as as government spending
increases the deficit
but it's not nearly as effective as is actual spending
but what's the what's the point what is your argument in refutation of what
boatright hobart sophia quoted at her third wish arlington just right
of florida that one of us at our third uh... a good start as it may be a little
bit more
was tax cuts
hourly experiment tax-cut so two-parent
of the year
philip just recording take four to five hundred billion bristol parking
five to six hundred bigger than this
sequester and that was marginal but this is such a major really forty four
billion according to the c_b_o_ tenneco is uh... armageddon
wait a second hahaha you know i didn't say armageddon
maybe you define armageddon is having a baby don't butler but but
i do think that we have a jobs crisis in this country
i do think that we are losing uh... generations of people in terms of the
work force in terms of science eccentric cetera with this sequester and frankly
as it exists even without the sequester
so i don't know what your definition of armageddon is i'm saying it's going to
cut economic growth
from anywhere from point five percent
to one point five percent i haven't heard anybody predict it's going to do
any the less than that
so what is your point yellow
my coworker
that this is constant his their unit qal point ok put in perspective as as i read
that beat paul so he said to let me let me see what you're saying okay so
heavily anything that then the bucket
and your you are
your argument is
is that shaving a half a percentage of growth
off of the economy
or one point five percent he's just not a big deal that's the point you try to
make it in my right
dancing
there's no question that short term effects will be significant
but um... and there is uh... there's certainly better ways to go about making
the stuff that i don't think anyone let me ask you something
happens next year
i dot record only when you're sequestered believe now it's a ten-year
sequestered picket agent none now it's ten years or check but we keep changing
every year
archaic
all right so if we have somebody suggesting that we cut uh... economic
growth this year
half a percent or one-and-a-half percent in the next year we spend more money
well expatriate get lauren coming up at work
yet we change it after that every year every other kid changing a little but i
don't understand what you're saying i know they keep changing now on the
assuming it goes thrown sent
but it's a competing completed say
you know that
conduc putting a perspective the numbers you know it's not a lot about how i had
them
amjad
listen to me
i don't you gotta tell me
what is your argument your argument is you're taking issue with the fact that i
mean consistent because
because i wanted a bigger stimulus and this posterity
that were imposing to not such a big deal handled it
is to this hard on michael thinks he knows what you're saying probably will
not presented by wynonna commitment with what he's saying is that
you guys work or us liberals also that the stimulus wasn't big enough and i did
not have a big enough impact of the economy
now the stenosis significantly more money than the sequester cuts and now
we're saying that that's going to be disastrous any saying that that's seems
hypocritical doesn't make sense to have so he's trying to say is that accurate
ten
that matter might get a good job about summing up the my politics inconsistent
so you are going well let me let me let me let me let me let me or just let me
give you an a little an allergy here okay
wearing a ten thirty okay just called up calm down person
when a ten-foot uh... dickhead deep ditch
okay
we needed ten feet of derek to fill it up
cream on the ground output gap priority
hello i'm explaining to why what i'm saying it's not inconsistent
if you're talking about the tone or whatever it is
i don't know what the talia
and then i'm not gonna sit here and say
you know den i've thought about this a lot you're right
the hyperbole
is uh... of the is uh... is a common enemy unit five it it really should be
the union three is that what you're saying
what i'm saying is it is inconsistent with the poor
but another thing is is that this whole prosperity picture in europe this
several something that i don't know anne cooper finding a libertarian you can't
support the kind of tax increases
you've gotten your and here's a case where cacao not calling for tax
increases
but for
image of the extent that i don't even know that we should have any tax
increases right now
bought four o_ uh... but for i think a financial transaction tax
might be good to do right now
and if we're gonna have a tax increases
he should be focused on those people
knowing that it will not affect their consumption
and that is some off of the irish yes the multiplier so you understand this so
i don't know what you're putting a little bit listened to
uh...
should go back collected thoughts
if it's it's it's really is
you don't like the consistency
of the degree in which people are using hyperbole
from my liberal friends of home
at all have any
uh... friends
uh... then then you gotta come back with something more interesting than that
because that's that's a long way to go
for that
but i appreciate all about it