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it's sis wanna talk about that scenario that if if the wood gary bower is
talking about actually happens what the implications are for the democratic
party but before we get there let's talk about that conservative consensus
because
but we're talking about that conservative consensus we're talking
about it on a on in terms of economics named in one of the things that happened
over the past week ourself and everything is sort of blended into
gather to me because i can then i would not his day in day is right for me
at this point uh...
in terms of the amount of sleep i'm getting but the uh... there was a
resolution and that was passed as part of the budget uh...
bill in the senate that changed the way
or oka
old for the c_b_o_ to change that to accept
dynamic scoring and this is really important because when we
where about all
all the talk with a
if the president and the administration still
sort of pathologically keeping entitlement reform on the table
and by entitlement reform we all know that we're talking about his cuts the
benefits
uh... for soc security recipients and then probably medicare recipients in
some fashion or another
uh...
that this dynamic scoring is very important to talk about that for about
brief moment because
uh... you know
one of the things i did see also when before i left was
and uh... we got to take this with a grain of salt is this
uh... polling that republicans did in specific uh... potential swing districts
with a_c_ potential pickups
uh... of uh... democratic seats and is showing that people were were
that voters in those districts were very keyed into
the deficit and the debt as a big problem uh... hand uh...
in this dynamic scoring plays into this because it basically well
you talk about this but it it it plays into the notion that uh... of of
reaganomics in summers is a respect that cutting taxes actually
raises revenue
without unit scoring has been you know one of the holy grail further further
republican senate right much interested hamburger certain center status going
in favor of it for a long time as well
and what it basically it's a little bit mumbo jumbo east in my opinion we taped
asking the c_b_o_ which right now is is just
very
simply focused on
predefined predicting how
you know the budget
e how the budget will look in the future projecting it dated upon certain
functions
about
yet money spent the money coming in
what they're asking them to do is if you make a bunch of the functions about how
people are going to behave as a result
you have these changes that money coming in and going up
you know this is a field in economics that
it's very interesting
yet that you member freakonomics and you know there were a lot of
you know there's a lot of study going on in this white very very fascinating and
extremely dangerous
to start having the government play this game
they do not it is not the field which is you know well-established enough or
cadet even bailey they even know how to make the model
to make this work and what it's been trying to do basically
is
is have did c_b_o_ the congressional budget office in various other
government budget
prognosticators
um... make cicada
for cutting taxes
because you know again we're back to that old supply flag
you know scale supply fled idea that the more you cut taxes the more money you
will bring in
and you know i think that's been proven to be known sense but they're not going
to give up now what they did was they passed this
it came true he came out of the committee
on a party-line vote in the house and then they hate how they ended up asking
at
the idea that a number of nights not by invite admin allen
word state-of-the
today to the congress is running entertainer congress it wasn't something
you know what in the pacific law but it was just to figure out if we agree with
that we think we should be doing it
now i don't think that the right as they have a very good at it they kept it a
step because
slowly but surely
you know whittle away at their fan over time
but that doesn't that in fact changing the attention of what is normal i mean
and we all see that when we watch the media you know yuki for instance right
now the contents of them on the political establishment is that
entitlement at going broke
we've got to fit you know in order to pay them
now essentially we have to destroy them
on the only thing we can do is cut them and that is the result of many many
years propaganda by people like pete peterson invariance other
at you know fiscal conservatives
deficit harken
playing a step over and over again for this is how they do it meant you know
this is the it's an important affect of politics egg hunting for democrats do
much at all
wicked sort of play bass this long-term game as of changing a function
you know essentially they're they're very very reactive and have been for a
long long time and they don't
you know they're well we can barely count on him to even protector and
signature treatment at which point i guess
looking forward to just too much to ask but that is you know that when the
functions of a political party
if the fed at the instructions to setup they needed to cultural framework
um... under which we all operate and maybe you know the conservative sitting
very very good at doing that and they're continuing to even from their alleged
position of weakness
and you know at the end he completed every thought that this to me now we
have a democratic president
taking a
you know i fabric i think of it has white whale the grand bargain
relentlessly pursuing the idea that it is the could
for a democrat
social security medicare and medicaid
gift will be a legacy treatment
adheres that people will remember him
on the way i you know in the same way do you remember ronald reagan
if he manages to get this thing done
now honey think about that
communicative content democrat doing that and i think the theology is really
more
uh... in my mind it is bill clinton cutting welfare
but at least that has been a uh... a disaster that we have sort of like a
slow
uh... revealing disaster as you as it when you go into any particularly had a
period of of joblessness that we like we've been in
uh... yet anxiety i said said this odd dollars in on this program every time
it's mentioned on in any type of uh... national forum
you know good television essentially high did people just say you know
with the clinton did welfare reform in in in a positive and it's uh... it is
that is apart the bucket list i think in the in the white house now now i just
want to have wanted to make a epm adorable labor this um...
this uh... c_b_o_ thing but people should understand essentially what it
what this dynamic scoring does is in and they have an adopted it but
by getting a majority of senators including seven democrats to sign off on
this he's basically saying that when we present a budget
that says we're going to cut taxes and with the uh...
we on all-in-one
part of the ledger and show that the revenues increase because of it on the
other side of the ledger you gotta sign off on it and say that makes any sense
uh...
be cut and uh... identi like you say it's not binding
disney gains traction has an idea uh... it becomes uh...
borrowed problematic in the same way
that the phrase when a uh... family ties has to tighten its belt the government
should to let me next you know eighty the that's not real uh...
um... economists disagree with that notion even joe scarborough says that we
should be adding more stimulus um... yeah you know but
uh... it becomes adopted and then id impacts our politics because the
president and you know about
uh... counts said it well i'm not gonna fight that fight essentially i'm not
going to desist disabuse
use the american public of that notion i will come out for it to get the you know
as they say within the circle of their uh... of their belief system to attempt
to sell them something else but of course you can't sell them the opposite
which is really what we need to be sold at that point
well it's not even on the cable the opposite is just completely ignored its
working even now
without dynamic scoring you know the pursuit of austerity
it at a time of of you know economic malaise at best
um... your is totally
upon publicly anyway
because the
idea of
you know the government had to cut back has become
you know that they're just certain kind of indicate that logic to that that no
one has
actually challenge that certainly the president hasn't he's been going on
thing what we need to do deficit reduction to the differences wheat we
want to do it in a more balanced way whereas they just want to do it by
cutting standing nobly challenge the idea at all
that we've done enough deficit reduction and that
the deficit
projections as they can even if they are currently
uh... toward will
you know will will shrink if the economy comes back and in fact we should do the
opposite i mean i think
that argumentative indian out there and i think he has a difficult one to make i
agree that it's not devika tech to explained to people
that you don't get the government in tight you know they had to hold
you know the key indian framework for board dealing with
uh... this kind of
you know lack of demand it in the in the economy back
allowed *** somebody on the catholic because it what's happening in chiapas
and winding up choking off
economy in fact there walking in kitties political
you know
maybe rediculous political traffic set for themselves
whether unprepared for by accident like a sequestered which means you know we're
cutting
the heck out of everything at exactly the wrong romance
and and and the deal that's being put on the table as well the only thing we can
do to stop that is to cut things in the future
alike in
medicare and social security
so we can only know now we're at a moment where the argument centers around
the idea
of u_p_s_ cut now are you can cut later but you have to cut and we're putting
forward the idea that we're going to cut later so that's really the better of the
two options that's the democratic position when in fact
there should be no cutting technician
cutting is it should be
should be out of there especially place they've done a tremendous not cutting
already i mean they have three trillion dollars in deficit reduction put mostly
three spending cuts
but three from
yet no revenue that they got in the fiscal play field now let's
let's declare victory on deficit seemed and move along because this is really
very detrimental but
nowak you know we got ourselves into this position
and uh... the j_f_k_ and hard at this point to
um...
frantic a few if any of it and he met with accidental phantom
on both side of the aisle
the um...
you know the mantra
from the beginning once stimulant with don which was that the very first month
of the obama administrations first term
we've been talking about that