WAITING TO HEAR BACK.
NEIL: IMAGINE IF HE SAID NO I
DON’T.
HILLARY VAUGHAN FOLLOWING THAT
ON CAPITOL HILL.
DONALD TRUMP HAD IN NORMA’S
CONFIDENCE IN HIM, THE CHAIRMAN
OF THE COUNCIL OF ECONOMIC
ADVISERS JOINS US NOW, AUTHOR
OF THE DRIFT, THE DRIFT WE ARE
GETTING FROM THIS
ADMINISTRATION ON THESE ISSUES
IS EXECUTIVE ACTION, THE
BACKDROP THESE HIGHER PRICES,
UNWINDING SOME OF THESE TARIFFS
UNDER YOUR OLD BOSS AGAINST
CHINA, WHAT DO YOU THINK?
>> I THINK THE BIDEN
ADMINISTRATION, GOING AFTER
TARIFFS BECAUSE THEY HAVE LOST
SO MUCH GROUND ON INFLATION AND
ONE OF THE REASONS THEY’VE LOST
SO MUCH GROUND ON INFLATION IS
WHAT YOU MENTIONED ABOUT
BUSINESSES, THE FACT IS DOUGLAS
WHOLE TAKEN, AN OLD FRIEND OF
MINE HAS RECENTLY REPORTED THE
BIDEN ADMINISTRATION PUT OUT
TWICE AS MANY COSTLY
REGULATIONS AS THE OBAMA
ADMINISTRATION IT IF YOU RUN A
BUSINESS WHEN THERE’S A NEW
REGULATION THAT COSTS YOU A LOT
TO COMPLY WITH AND SO YOU HIRE
A BUNCH OF GUYS TO STUDY IT AND
TELL YOU WHAT TO DO AND YOU
HAVE TO BUY SOME COSTLY
EQUIPMENT AND THEN YOU HAVE TO
RAISE PRICES SO PEOPLE ARE
SAYING HOW CAN IT BE THAT THERE
ARE MORE PEOPLE WORKING AND GDP
IS GOING DOWN AND ONE BIG
REASON IS EVERYBODY IS WORKING
TO OBEY BIDEN’S EXEC OF ORDERS
AND HIS NEW REGULATION SO THAT
IS DRIVING INFLATION, BAD
POLICY AND THERE IS SOMETHING
TO IT.
IF THERE WERE MORE
BUSINESSPEOPLE, I WORKED WITH
GARY COHEN WHO SPENT HIS LIFE
IN BUSINESS, THEY WOULD SAY WE
CAN’T DO THIS BECAUSE IT WILL
HURT SMALL BUSINESS.
NEIL: HE WAS FORCED OUT OR QUIT
IN FRUSTRATION BUT LET ME ASK A
LITTLE BIT ABOUT THE MOOD HERE
AND WHAT I’M ASKING IS
SOMETHING YOU DEALT WITH ALL
THE TIME, YOU WANT DIVERSITY OF
THOUGHT, SOME ARE MORE
SUCCESSFUL, WELCOMED ALL POINTS
OF VIEW AND MAKE THE FINAL
DECISION BUT IF YOU ARE HEARING
ONLY ONE THING, I’M SURE THERE
WERE A LOT OF DIFFERENT VIEWS
ON TARIFFS AND HOW FAR TO GO
AGAINST THE CHINESE, THE
PRESIDENT WON THE DAY, HE IS
THE PRESIDENT.
I BEGIN TO THINK, YOU KNOW THE
MECHANICS OF HOW IT WORKS IN
THAT BUILDING, IF YOU ARE ONLY
HEARING ONE POINT OF VIEW IT
DOESN’T ALLOW YOU TO CONSIDER
ANYTHING ELSE.
>> I’VE NOT BEEN INSIDE THE
WHITE HOUSE, DON’T KNOW IF
BIDEN IS IN THE MEETINGS BUT I
CAN REPORT THAT DONALD TRUMP,
YOU KNOW THAT PETER NAVARRO AND
I DISAGREE ABOUT A LOT OF
THINGS AND CERTAINLY DISAGREE
ABOUT THE ECONOMIC IMPACT OF
TARIFFS WHERE HE WILL SAY GDP
GOES UP BUT I’M NOT SO SURE,
THE PRESIDENT WOULD LOVE TO SET
US AFTER EACH OTHER IN THE OVAL
OFFICE, HE WOULD SAY DON’T YOU
THINK PETER IS WRONG ON THIS OR
DON’T YOU THINK KEVIN IS WRONG
ON THIS AND HE WOULD ALMOST
SCRAPE OPEN SCABS BECAUSE HE
WOULD WATCH THAT FIGHT AND SORT
OF SAY OKAY, NOW I THINK I
UNDERSTAND BETTER WHAT I WANT
TO THINK OF THIS SPACE AND THAT
WAS SOMETHING I ENJOYED.
IT WAS ANXIETY CREATING A,
EVERYONE IS ATTACKING YOU AS
THE ECONOMIST BUT I WOULD
LEARNED SO MUCH, I HOPE
PRESIDENT BIDEN, I DOUBT HE HAS BEEN DOING IT IF YOU LOOK HOW
BEEN DOING IT IF YOU LOOK HOW
BAD THE POLICIES ARE.
>> JOHN KENNEDY WOULD ENTERTAIN
ALL POINTS OF YOU FROM THOSE
COMMITTING CARPET BOMBING Q
ABOUT A THOSE WITH A MORE
SUBDUED APPROACH, HE WAS IN THE
MIDDLE.
IT IS WHAT WE ARE DEALING WITH,
IF THE PRESIDENT WERE TO
ADDRESS REGULATIONS, WE CHATTED
ALL THESE YEARS THAT THAT GOT
THE ECONOMIC BALL ROLLING
BEFORE THE TAX CUTS AND VERY
IMPORTANT TO BUSINESS, THE MORE
THAT ARE PILED ON THE LESS WELL
THEY DO.
THAT WILL GO ALONG WAY OF THE
PRESIDENT DID SOMETHING LIKE
THAT.
WHAT DO YOU THINK?
>> REGULATION, PRESIDENT
BIDEN’S FIRST EXECUTIVE ORDER
MADE IT SO YOU COULD PASS
CABINET AGENCIES, PASSED NEW
REGULATIONS SO THAT IS WHY
THERE HAVE BEEN TWICE AS MANY
REGULATIONS AS THERE WERE UNDER
PRESIDENT OBAMA.
IF YOU GO BACK TO PRESIDENT
OBAMA THE OFFICE OF MANAGEMENT
AND BUDGET, THEY TOOK THE COST
BENEFIT ANALYSIS SERIOUSLY,
JASON FURMAN AND OBAMA’S
CHAIRMAN AT CDA, THE POSITION I
HAD, PUT OUT COST BENEFIT
ANALYSIS WHICH I DIDN’T SUPER
AGREE WITH, CAREFUL ABOUT THEIR
CLIMATE PLANS.
BY TAKING THAT AWAY, YOU SPEED
UP THE REGULATION PROCESS.
WHAT I WOULD DO IF I WERE
ADVISING PRESIDENT BIDEN, WE
NEED TO BRING THE COST BENEFIT
ANALYSIS BACK, PRESIDENT
OBAMA’S TEAM USED IT WELL TO
GET AGENCIES OUT OF CONTROL AND THE AGENCIES ARE REALLY OUT OF
THE AGENCIES ARE REALLY OUT OF
CONTROL.
NEIL: ALMOST ANY COSTLY
UNDERTAKING OR INVESTMENT THEY
TRY TO SPELL IT OUT AND EXAMINE
IT AND GO INTO THE WEEDS.
SOMETIMES THEIR PREDICTIONS
DON’T PAN OUT, AT LEAST THEY DO
IT.