President Trump, China, Donald Trump discussed on WFTL Programming
I'll take the Turkey. Tom. Don't name it makes it harder. Try our new nine green weeks up. Jimmy johns. Yeah. Boyer back. You're listening to the Florida roundtable. I'm Reagan Smith and Michael Yaffe had Michael at this point in the program as promised we are joined by economist Stephen Moore. Stephen welcome back to the Florida roundtable, great to be with you, Steve, of course, with the Heritage Foundation. You've written for the Wall Street Journal, and for those who may not remember your last visit lay out a couple of your other credentials sports pays. Wow. Senior economic adviser for Trump during the campaign and have a new book coming out in next month in October called Trump annex an inside view of Trump's America first policy. So that will be out, and it's a good kind of I had a count of how Trump was able to turn around our economy. Now, one of the things you have said recently is that the president ought to get a Nobel prize for economics. And we want to hear about your thoughts. Well, you're not doing that to sort of tweak some of my liberal friends. You know, who said that Trump would never be able to be successful, maybe caused a second great, depression appears elected, and so on and now we've got those booming economy that no one none of Trump's adversaries thought was possible. And it's a great great tribute to Trump's policies and his his wisdom that we're able to get an economy that was barely growing at two percent. When Obama was president. That's now growing at four percent. And we're seeing record numbers of job street at lowest unemployment rate for minorities and fifty years. We've got the construction boom that's going on all over this country. From Florida to California is the most remarkable thing I've ever seen. It's a great story. And you had mentioned Obama there. Obama's trying to take credit for this good economy. What do you what do you say about that? Well, I mean, look if I were about my probably say the same thing because Obama, you know, did cause a recovery. But I think what the President Obama doesn't kind of boy you understand the difference between a recovery and a boom we had a recovery under Obama. We now have the biggest boom, and you know, in thirty or forty years where you're starting to see wage games middle class workers have a lot more opportunities today. And that's not the way it was under Obama. You know, the day before Trump was elected drought. Obama's presidency at most three out of ten Americans rate of the economy is good or great now seven out of ten Americans. Economy is good or rate because things have improved so much eighteen months. And I I saw the president a few weeks ago. And I just said, you know, Mr President pistons working better than we even father would when we device these plans two years ago, and he just smiled said nothing. Yeah. Wow. Now will we here we still continue to hear an awful lot about China and whatnot. And they're booming economy is it booming, and what are your thoughts? How does that affect right now? The United States is clearly the envy of the world in terms of our economy. We're we're growing much faster than Europe. We're going much faster than China, and Japan and other countries are looking at what we've done interesting. How how do we do that? So that's been a remarkable thing to watch it to behold. You know, it's a it's a great. It's a great thing because Trump is is has cut taxes cut regulation. Got government off the back of our businesses. She's promoting American energy production. All these things together have really created at very strong. You know, Connie that gives Trump a lot of the upper hand in these negotiations with you know, with China because China's economy is actually stalled their stock margins found almost twenty percent this year. There's a lot of disinvestment going. Out of China's out. That's a that's a positive thing. We're we're. Negotiating from a point of weakness. Strength not weakness in on panic in Beijing about Trump. So you really feel like these tariffs that Trump is imposing he's not gonna really hurt. The American economy that much relief is going to bring China to the table. No question about it. You know, anytime you put a tear up on our goods and services that means that. When we buy things you go to WalMart, you buy things from China. They're gonna cost a little bit more. So sure there'll be some pain. You're no question about it. I'm not I'm not a big tourist guy don't like us. But in the case of China, we need to retaliate against you know, the fact that they. Cheat they steal. They are building up their military. They're becoming an adversary not a friend the United States, and you know, for thirty years. We've just sit back setback and take take a mess. And now Trump percent an hour. You're going to change your behavior, and we're gonna continue to impose these very very punitive tariffs on you until you start, you know. Acting like a civilized nation. And you know, I talked to American businessmen and women all the time CEO's major companies say it's almost impossible to penetrate, the China market now, wait a minute. We're supposed to have a free trade deal with China. We by five hundred billion from them. They live by less than one hundred and fifty million from us. I mean that just doesn't work anymore. Now, you said when you saw the president of the few weeks ago, his reaction was you ain't seen nothing yet. Is there anything that you can share with us that you have worked with him on and planning that you feel like maybe? We're. Tax cuts are still just kicking in. You know, this in this spectacular tax got this lowered our business taxes. We're starting to see a lot of money flow in from overseas into the United States this repatriated capital. That's a beautiful thing. And I think that this kind of be still picking up momentum. And then, of course, on the trade front if Trump can pull this off and right now, you know, it's like trying to predict the outcome of baseball game in the fourth inning. But right now, it looks like Trump is prevailing. We got a good deal with Mexico. He's going to get a deal with Canada down in the next month. Or so we're gonna see I think probably the Europeans are now talking about being more cooperative. And then if you get something, you know, some major concessions from China, which I think he will. I don't know when that's coming. But I think he's gonna win. Ben, Ben economy's really gonna explode. Yeah. There have been reports. Republicans are proposing tax cuts two point. Oh, what exactly is in that plan? The main thing is just make all the tax cuts permanent. You know, the. As I said, you know, the tax cut is whiz worked better than we thought. It's it's one of the springboards of this booming economy. So obviously, we don't want to reveal any of it because it's working so well, so, but you know, it's so interesting. I mean, the Democrats. Shaped like Boorda running on an agenda of repealing back, Scott. I mean video thing ever. We have a booming economy after each pass the tax cut, and you want to get rid of a tax cut. It's it's it's crazy. And I said, you know, I think people should ask their their candidates. You know, you're going to keep these successful tax cuts in business because if you repeal and you're going to see a a lot of loss of these jobs now, this is sounds very similar to the kind of things that Ronald Reagan did. And of course, the Democrats have spent a lot of years saying, oh, well, the Reagan stuff didn't work, they call the trickle down. How how are we different here? Say that again the Ronald Reagan program. Democrats have spent a lot of time saying didn't work and the Donald Trump is going down the same kind of a road. How do you analyze that? Well, I lived through Reagan. Didn't did you. Yes. Yeah. I mean, what are they talking about re evaluate last economy in decades and decades under Reagan the stock market went through the roof? We had you know, four percent growth for seven years we rebuilt American economy. I think people say that don't remember what it was like when we're twenty percent mortgage interest rates and fifteen percent inflation and the American economy, which wreckage and Reagan Rideau, not just the American economy, our American military and won the Cold War. So I mean Reagan was one of our greatest presidents. I mean, I don't really understand what they're talking about. When they say, the Reagan's program didn't that we'd brow or at a lot of Reagan's ideas. Because we said look if they worked in the eighties has clearly dead, they can work again. And and and I think that's a really important important point. Yeah. One thing you mentioned earlier is President Trump is pro energies putting forward policies so that we can draw for more natural gas for more oil. But I know a lot on the left really don't like that. Because they want us to move to one hundred percent renewable. Energy. How would you respond to those on the left? I want to do that. Well, you know, it's funny. I was just looking at these numbers comparing energy class because you're there in Florida, right? And as comparing your energy costs versus California, California pays double the energy costs. Did you know that? So you don't have these severe, you know, solar win mandates. You do solar and wind is just it's not mandated California already has fifty percent mandate. They want to go to one hundred percent. Well, if you mandate utilities use more expensive, you know power sources, then it's going to mean higher utility bills for people. So, you know, this isn't something I it's just I feel good green policy. It's gonna cost your citizens. A lot more money if you were Dopp these these policies so California's crazy for doing this. I mean, they're gonna in by the way, it's the people were hurt the most by those green energy mandates. Of course, our lowest income people because it's like a regressive tax their utilities. Does go up by thirty forty percent. You know, that's a big cost to a low income family. This living on a limited budget. So we we ought to get rid of all renewable energy mandates solar and wind are price competitive. I'm all for it. But we shouldn't force feed people in in buying electric power. That's doubles expensive. Is it is when it comes from coal or natural gas natural gas, the most plentiful, you know resource. We have in terms of you know, we've got two hundred and fifty years of natural gas, thanks to shale revolution. And it's clean burning and that's abundant cheap, and it's reliable. I mean, why wouldn't we use our natural gas? Now, if you were back in the White House still advising the president. What would you be pushing for as the agenda goes forward? Well, I think he's I would tell him that you know, what what you're doing is working. So don't back down to the Democrats. Let's continue to move forward. I'd like to see him immigration reform where we could get like we we have a problem not with workers. We don't have enough workers in this country. We need the the talented people want to come here and work in the service industries and agriculture, and you know, so let's let's build the wall what secure our border, but let's also get pro-growth immigration policy brings people wanna work. Not people want to go on welfare and not people want to come here legally, but people come in through the legal process and then build a better life for themselves. And and so we need to do we need to get this infrastructure Bill time, so we can rebuild some of our infrastructure. We need pipelines. We need g terminals, we need all sorts of infrastructure. You know, we have to help re redo our ports and things like that. So there's a lot still on the agenda. But you know, Trump can certainly take a bow right now. That's why I said he deserves the Nobel prize. I mean, no. Buddy thought that what has happened was possible. And yet here we are eighteen months into his presidency. And we're just seeing, you know, every every time, I think the economic news can't get better dots. So do you think this four percent growth will continue? I think you know, it will for a couple two or three or four more quarters. And the only thing that's really I think constraint. Constraint on that growth is whether or not we can have believer force drought. Because you know, we don't have enough worker. We have seven million more jobs today than people who can fill them. And if that if we continue to create jobs like this. We're gonna have a labor shortage gets more severe, and that could lead to some of the factories leaving the United States and going to China or India places where you know, where there's plenty of workers south. We need to get everybody in the workforce, we need work for welfare requirements. So you know, if you're on welfare, you should have to work to get the benefits. There's no more free handouts, those kinds of things will help improve the lives of the people on welfare, but I'll show will help the economy as well. Let me say it one more time Nobel prize in economics for President Trump. And those words from Stephen Moore. Stephen, thank you so much more. We know you're very busy, man. And we appreciate your spending a few minutes with us that day. It's a pleasure to be with you guys. And look forward to talking to you again soon. Well, thank you kindly and wish you well, sir. Let me remind you that this is the Florida roundtable. I'm Reagan Smith, Michael Yaffe..