19 Burst results for "Glenn Hubbard"
"glenn hubbard" Discussed on Bloomberg Radio New York
"And expert data driven commentary on breaking news. It is time now for Bloomberg opinion and joining us today is columnist Michael Strain, and Michael You have a terrific comb on the Bloomberg talking about the payroll protection program, which, of course, has been renewed now and his new $908 billion Simmons Bill. But before we get to the new one, let's talk with the old one because you and our friend Glenn Hubbard have taken a look at the first round of P P p. And give us a sense of what worked and maybe didn't work. Give us your sense of what the first round really accomplished. Well, I think what we know from the first round is is pretty positive. Um, the first round seems to have Supported employment among eligible businesses through the month of August, which is when my my analysis with covered that you mentioned stops. The program seeks of supported financial health. Among eligible businesses through August as well, and we also find some evidence that the program prevented businesses from permanently closing their doors. Through the end of the summer. So for PCP through the spring and and through the summer, there looks pretty promising. Okay, so take us forward to this new round as far as we know it. I haven't read the 5600 page bill. Maybe you have but give us a sense of what the new round of P P P is going to do. How is it different from the first round? The Miranda is pretty similar. It's basic structure.
Coronavirus infects U.S. economy; millions face financial ruin
"The tri state area has now seen nineteen deaths from the corona virus outbreak New Jersey governor Phil Murphy said today have a total of nineteen hundred and fourteen people in New Jersey have now tested positive for the virus twenty people have died there New York governor Andrew Cuomo said New York has seen one hundred fourteen deaths and over fifteen thousand cases Connecticut has seen five deaths from the virus governor Cuomo today called for the federal government to invoke the defense production act to get factories to make masks ventilators and other medical equipment he says the situation is dire this they cannot manage it states all across the country can't manage it certainly the states that are dealing with the highest caseload can't handle it but you're hearing it all across the country from states they just can't deal with finding the medical supplies that they need on CNN this morning mayor bill de Blasio said sixty people in the city have died from the virus eight thousand in the city are infected his forecast was Graham the truth is and new Yorkers and all Americans deserve the blunt truth it's only getting worse and in fact April and may are to be a lot worse right now we are a third of the cases in the country that's going to get worse for about two thirds or more the cases in New York state that's going to get worse the U. S. is entering a recession the ultimate fear is that it could last a long time and that has some worried about a depression some prominent economy watchers including former White House chief economist Glenn Hubbard and Kevin Hassett and former federal reserve vice chairman Alan blinder have drawn comparisons to the Great Depression although they have stopped short of forecasting
"glenn hubbard" Discussed on The Ezra Klein Show
"I was talking to Glenn Hubbard the Columbia communist, who's was George W Bush's chief economist, and he made a point about taxes and tax bills that I thought was interesting. He said the way to assess a tax Bill is to ask. If this is the answer. What was the question? So if this Bill the just passed Senate the other night is the answer. What was the question on taxes Republicans were trying to ask? Well, I think there's the question they'd like you to think they were trying to ask. And there's probably the question they were actually trying to ask. So in practice at this looks a whole lot like God, damn it. We've got a pass something. Otherwise, we've been in control of the government for a year, and we have no. -ccomplish anything whatsoever. A lot of what went down is. Like the old. Yes minister joke. Right. We must do something. This is something therefore, we must do it. But look there's there's a real issue. How big an issue is in dispute that he has a pretty high nominal face value tax rate on corporate profits. The headline number is higher than than in other countries doesn't translate into higher overall taxes on corporate profits because we have all of these loopholes exclusions exemptions. But clearly that's got to be a little bit unhealthy probably has some distorting effects on incentives and a move to fix that by bringing the the headline corporate rate down to something comparable to other advanced countries is something that in principle has a lot of support even from democratic leaning economists. And yet so me let me bracket this because there are two pieces of this Bill when I began. Talking to people about it. There's the corporate side of this Bill, which is you say has a theory to it. And we should talk about what that theory is. And and whether this is going to far with it. And then there's everything else in the Bill pass throughs individual tax rate estate tax repeal all of that. And one thing that I found when I was talking to Republican economists was that you would find a lot of people defending some version of what the corporate side does which is bring the rate down from thirty five where it is now to twenty percent, and they were very excited about that. And then I found that there was not much excitement about the individual side tax cuts not much excitement about the pass through stuff that people felt that was politics because you needed to tell people they were getting a middle class tax cut you needed to buy off these different corporate and small business lobbies you needed to give maybe Donald Trump a tax cut. And so we were spending whatever trillions on that as a way of buying these big tax cuts for corporations. Yeah. All of the individuals stuff is. Is by way of a abiout is either to say have something in there. So you can say to ordinary voters. Look, you've got a tax cut Twenty-eight teen or to be able to say to certain wealthy powerful interests such as the from family. Hey, we've got a we've carving out at a whole big new loophole for you personally, and a state tax is a is a big payout. All of that is is by way of of bribes. And the funny thing is that because they can't bypass the filibuster. Unless the thing is deficit neutral after ten years all individuals stuff is a temporary bribe. It's ten years of stuff or in most cases, less than ten years with stuff thrown at various interest groups for no particular policy, purpose, and then supposedly it all disappears leaving you with a corporate tax cut. How would you design a maximally pro growth tax reform Bill?.
"glenn hubbard" Discussed on Freakonomics
"Not be gaining his we're not looking for the middle class and we're looking for jobs and their first reaction was let's cut the estate tax for people who have more than twenty million dollar estates cutting the estate tax was not something that we need to do for growth in this country let's cut it on a high income pass throughs the high income pass throughs he's talking about include certain llc's and even sole proprietorships that under the new tax law will be able to write off twenty percent of their qualified business income the tax cut for pass throughs is complicated distortionary i don't know any communists on the left or the right that particularly like that provision i believe was glenn hubbard who said he did not like that change even though he's on the republican side because it would lead to a lot of people spending a lot of time setting themselves up to be tax adventitious which is kind of the wrong way to be spending your time generally yeah exactly the tax code should tax similar activities at similar tax rates and now all of a sudden you can make an arbitrary label change and save twenty percent off your taxes that's going to lead to a lot of distortions a lot of extra effort they put rules in place to prevent abuse but they'll be an awful lot of creativity to figure out how to get around those rules how about another promise that president trump made about the tax plan tax simplification will be a major feature of the plan.
"glenn hubbard" Discussed on Freakonomics
"Look if this is a once in a generation opportunity to change the tax code all we did is just go pile on to a problem that we already knew existed to multiple problems we already knew existed one let's just go cut taxes for high income people and make the income distribution more on equal when we know that that spend trending the the bad way for for quite a while and then let's just pile on during a boom and start running huge deficits during a boom well i think if you use the joint committee on taxation estimates though one and a half trillion dollars so called static revenue loss became a trillion dollar revenue loss glenn hubbard again the republican communist my own calculations would suggest about half of it but as say seven fifty would be a true revenue loss so no matter how you slice it it's going to be difficult not to lose revenue the only hope would be the for some other reason the economy grows faster but this tax cut definitely increase the deficit so even hubbard does not dispute that there's a huge cost burden to the new tax package on the other hand the individual cuts that hubbard helped shepherd through under president bush and the individual cuts goolsbee helped shepherd through under president obama they didn't do much to address the bigger longer term trend of wage stagnation and that as currency chairman kevin hassett reminds us was why the current republicans felt compelled to make such a big play so we had really kind of like a raging problem that required antibiotics of attacks for the cost of the tax package while massive is hardly the only objection the democratic communists have here's something else donald trump promised after he was elected about his tax plan tax reform will protect low income and middle income households not the wealthy and well connected and this the rich will not.
"glenn hubbard" Discussed on Freakonomics
"Okay let's start with glenn hubbard keep in mind we were speaking before all the tariff turmoil it's been happening so the conversation stuck to the new tax plan now you were chairman of the ca under president george w bush and you were as i understand it and as i've read the chief architect of his tax cuts in the energy and innovative spirit of america's workers entrepreneurs farmers and ranchers so we unleashed that energy with the largest tax relief and a generation lowered the highest personal income tax rate reduce the rate on capital gains and dividends now democrats especially but a lot of republicans in hindsight say that these cuts that tax plan did not accomplish the job in wage growth that you imprison bush promised we acted our economy is growing again and creating jobs and nothing will hold us back i'm just curious to know in hindsight how you would assess that tax policy of yours well it's a great question in the decade that followed the original two thousand one tax plan you mentioned acts that were both two thousand one in two thousand two in two thousand and three in your question that decade had a lot going on including nine eleven including recessions it's very hard to parse things out i think cuts in marginal rates that president bush advocated were definitely the right policy there were things in the two thousand one two thousand three tax acts that i thought were actually quite expensive and probably contributed little to economic growth but i think on balance it was still the right policy it's also i mean a big variable in there is a couple of very expensive wars.
"glenn hubbard" Discussed on Freakonomics
"Would have been pleased with at least that part of the new trump tax law but you'd be wrong they had specific arguments as to why but also let's face it everything with trump's name on it is inherently contentious i am guessing the tax policy is not your most favorite topic in the world but in honor of our upcoming tax day we thought we'd give the new law the freakonomics radio treatment track down all four of the ca chairman from that panel for a robust debate this will require two episodes today we focus on sitting ca chair kevin hassett we'll hear why he thought such a drastic tax law was needed in the first place so we had really kind of like a raging problem that required antibiotics of attacks afor we'll hear some hard core economic walk speak there's this thing called the capital deepening contribution to productivity growth and has it tells us what it's like to work for president trump he will challenge you in ways that economists often are not ready for and then next week we will dissect the tax law off with the former c h airman glenn hubbard to say it's a disaster seems over the top jason furman the core arguments the administration made over and over again were completely false and austin goolsbee the entire stimulus that some people said all this is unbelievably large and how can we do something that would increase the deficit by seven hundred eighty billion dollars i mean come on this is four times bigger than.
"glenn hubbard" Discussed on Bloomberg Radio New York
"And that's a bloomberg business flash tom and pimp germ musco thank you so much before his academic they sent me at least a glenn hubbard is like the day starts at ten am that's sort of what you do in academia that sarah hubbard with us from columbia business school glenn hubbard you have stood up tall as of all of columbia when we hear the talk of a new vice chairman of the fed head who yeah he's at pimco that's like a day job form glenn his sartre and soul is with columbia economics course richard clarita explain to our audience who richard clarita is and his contribution to columbia well it's the president decides to nominate rich clarita for the vice chairman of the fed the fed will receive a distinguished scholar in monetary economics somebody who knows international finance cold someone with great market experience and somebody who is also one of the most collegial nice people on the planet a great choice if that's the president's terrific academic humility i'll sell here is he looks at dsp which is a lot of fancy man folks and how it's migrated through this financial crisis with lisa abramowicz you've gotta come in with glenn hubbard and grill him on the fourteen rate increases we're going to have yeah i mean you're saying that dean hubbard roles in at ten thirty but let me tell you he also is on the board at adp and blackrock and duke financial and ktar financial corporation and a whole bunch of other companies so you're seeing sort of the crossroads between sort of federal reserve policy and corporate america how well are these companies threading the needle between juicing returns now adding leverage taking risks but being sufficiently cautious in the face of rate hikes and other macro concerns winning all companies are doing the best they can to navigate this environment we have had a shift in business people's optimism and expectations for growth and at the same time there is a view that the fed is normalizing policy i think the normalization policies frankly quite healthy there may be some bumps on the road but i i actually think it's very healthy i think chairman powell is really focused on this i think the new fed appointments will only help.
"glenn hubbard" Discussed on KQED Radio
"The white house is expected to unveil its proposed steel and aluminum tariffs proposal as early as today the move comes despite widespread opposition from business as well as democrats and republicans in congress president trump will offer canada and mexico a temporary exemption from the tariffs on steel and aluminum imports and possibly extend that offer if there's progress on renegotiating the north american free trade agreement we're gonna talk now with glenn hubbard he chaired the council of economic advisers under president george w bush he is currently the dean of colombia's business school thanks so much for being with us this morning we should remind listeners you were among the economists who signed a letter last year urging president trump not to impose tariffs like this saying it would damage the american economy do you still believe that i do i think the trump administration go through things right into things wrong things roy use there are actually is global excess capacity in steel and aluminum and china is a culprit so that's correct and second news chinese theft of intellectual property is a real issue for the us the current economic reporter the president makes that point the two things wrong use the tariffs particularly with national security excuses aren't the answer to that question rather than china being the villain in the play the us has now become a villa that's crazy the second thing wrong is the failure to help american workers who were hurt by global pressures that's something that could we have happened in the tax bill so you must recent years getting some things right but unfortunately the response was wrong i wanna get to what you see his possible prescriptions they'll say the promise he just outlined but first let's talk about w your experience because you actually helped did.
"glenn hubbard" Discussed on WFAN Sports Radio_FM
"Compliment you we all group of validity i want to compliment you on this you're at a guy who you took the jets for the playoffs more than any coach in history the franchise you with israel you say that again playing glenn hubbard say again you jets playoffs more than any kojima his three to fridge eyes and in turn would stayed healthy oh probably would have done it even more you you know what now you know how being chad we had our relationship we're very close yeah we still talk i got him helping you looking at quarterbacks now okay your quarterback thin that's good did you did you realize that you have taken the just the plans more than any other coach did you know that uh guys i know history okay i know the last overlap on was yet team one of the reasons why i think i would just think about this only since the merger all we you and built cells did that think about that it's only pause cells need that wanted the vision and that was a i gotta tell you this to coat that two thousand in two year ban beat a guy that was one of the most unbelievable right something i could still see me going into the stadium when you guys get ready to play the packers that last game in a year and you need the patriots to lose it i'm walking into the stay in the patriots of wouldn't buy like 10 miami needed to lose not my now we're gonna have to win miami had a lose stadium and air up by ten points miami mike why am i even here the season by the time we started the patriots warned and it was a party that day it was unbelievable rebel coach a lotta great moments obviously and you know and look you guys know beal i though we said news i've been very fortunate in my lifetime uh to be involved in the national football league for thirty years as a player and coach and there's three teams that i will pull for uh for the rest of my life in those are the three key that i wore a kansas city uh the jets and then my career in philadelphia right and now i'm a fan of those teams and.
"glenn hubbard" Discussed on MSNBC Morning Joe
"A record that exceeds barack obama's look first of all it's too early in any president to say that the president had this president himself is responsible for what happened over the past year i think if the economy hadn't done well donald trump would have gotten up there and blame barack obama he wouldn't have said well i had a bad for sharing would have said i inherited this mess and it's still going on he happened to have inherited an economy was doing well and as you say gdp grew faster in the last three years of obama that it did in the first year under trump and your other facts are of course right as well the declining unemployment rates low rates for african americans this has nothing to do with donald trump this is the continuation of a trend that's been going on for a while and again it is important for people that are watching the show good support donald trump that are are republicans are are members of my family friends of the first baptist church in a physical law or my we're not naming a new look at its own charts it's all hard numbers it's all it is all you can look at every chart ecomog i think one of the few things there's no doubt that did huge corporations or thrilled with the tax cuts they've gotten there's no doubt that consumer confidence is higher than it's been but in part because as glenn hubbard said economist republican presidents his quote the new york times was donald trump is just a better cheerleader than barack obama what look we needed a corporate tax reform every even democrats barack obama proposed the corporate tax for four but this corporate tax reform was paid for in large part by the high income residents of the blue states whose state and local tax deductions the republicans took away to pay for it it was paid for by regressive tax cuts that were that help the rich more than they help the poor and so it's.
Gop, President and Congress discussed on This Week with George Stephanopoulos
"Have on it which of america's most prominent economist paul krugman nobel prizewinning economists now a columnist for the new york times distinguished professor at city university of new york and glenn hubbard dean of the columbia business school chair of the council of economic advisers under george w bush we just saw president trump right there he also put up a tweet yesterday saying that tax cuts will increase investment in the american konomi and in us workers leading to higher growth higher wages and more jobs paul krugman your response lots of people all basically all serious studies say not so much there's gonna be maybe a little boost but not very much we had the university of chicago survey forty two economists provole political persuasions only one thought it was going to have a significant effect on economic growth and i've been looking at what are the markets thick which kind inching so we have a chart here if you can short so never mind the stock market right he's going to cut taxes on corporations you'd expect stocks to go up a better judge would be look at the dollar because if this bill does what it they say it's gonna do skads money will pour in corporation will bring money back home invested here all of that should lead to a surge in the dollar in fact the dollar has done nothing the dollar rose when trump was elected because they thought the people thought the infrastructure plan was going to happen then went back down again it's actually lower than it was on election day and what the markets are saying is this is a big nothing burger the markets are saying they don't really expect any significant economic boost from this
"glenn hubbard" Discussed on WTMA
"I think there's another praised cold crocodile tears her giant crocodile tears being shed about the debt and those concerns were somehow absent when uh the other party was in control and raising spending and i just i would love to think that we could fix the deficit in debt problem on the tax side of our of our countries ah ledger but we can't it it this is spending side continually outpaces everything that's done on the tax side and i think until there's a balanced budget amendment john uh there won't really be discipline in the us government jim ryan is leading democratic voice in fact uh uh uh anticipation of challenge you nancy pelosi as minority leader at some point jim ryan says that these this bill as written the by the house and the senate when it gets to the press in his desk we'll plunged this country into recession what's he talking about tim where where would he learn to predict a recession from a bill i am really surprised he would make that projection and i i don't even know i mean i'm not what you would call a teensy an economist but that came to the end john maynard keynes would say boy look at this this bill cut taxes and that will stimulate the economy um i don't buy that but even though the most left analysis would say this is going to be a boost in the short term um and you know i had a friend in the media uh eddie eddie with known to be a liberal paper said well wait a minute i haven't republicans always said that is the biggest problem for growth i said no i've written a book on this for goodness six with glenn hubbard called balance did we call for a balanced budget and restrain on spending because it's an existential longterm threat but in the short term no it's not gonna call this a recession uh we we have a you know a couple of decades to get our business in order i don't like this artificial stimulus but i do like the growth uh that we get out of it so i think it's a good trade for this legislation other words spending for another day and boys not a rough whatever congress that on deserves heroism yeah i think so i think those are the.
"glenn hubbard" Discussed on KMOX News Radio 1120
"Of dynamic scoring that we could find still add half a trillion dollars to the deficit economic growth produces more revenue and babb pro help to offset fizz tax cut in actually lowered the debt i even where's can it we're going to me finding find a study that actually says what's your claiming let doesn't exist let me is that if you take the cbo formula and apply it four kids four tenths of one percent increase in the gdp janner freights revenues but trillion dollars a trillion dollars even the joint committee on taxation has projected that pit tax bill would stimulate the economy to produce hundreds of billions of additional revenue i've tagged to four economists including the dean of but colombia's school of business former chair of the council's vector nommik advisers and they believed that it will have biz's impact so i think we can stimulate the economy create more jobs that that does generate more rip isn't there a single study i'm gonna show you three studies that we have sort of a a a liberal won a centrist one in a conservative one right up there the most concerned conservative won the most plo economic growth argument still ads five hundred sixteen billion dollars to the deficit over ten years well tack to kenema slight glenn hubbard and larry lens c and ted dyed goods hold see eaten who used to be head of the cbo and they will tell you at the right so i think you will find that economists jazz don't agree on that you're comfortable with your vote on his tax bill and is it there really no matter what comes out of conference no i mean obviously have wanted see what comes out i believe that the amendments that i adage on medical spence deduction some property tax deductions on helping retirement security for public employees improved the bill i got a commitment that we're going to pass to bills including they alexander buried belem one that i bought third that will help offset the individual mandate repealed by lowering premiums and i also got an ironclad commitment that we're not going to seek cuts in the medicaid medicare program as a result of biz spelt all right we will be watching that commitment that.
"glenn hubbard" Discussed on KVNT Valley News Talk
"The full medved history library and one can only hope that the republicans in the house in the senate will make history bypassing the tax reform that is on the table uh the uh the economists who include the some of the most distinguished economists for instance say professor princeton harvey rosen uh at george shultz i mention a glenn hubbard who is a professor of economics at columbia i've former chairman of the council of economic advisers under president bush but they write that economist generally think to fundamental tax reform as a set of tax changes that reduces tax distortions on productive activities for example reduces the distortions on business investment and work and broadens the tax base to reduce tax differences among simoni situated businesses and individuals in other words it is as much about fairness and reducing the heavy hand of government is this a perfect tax reform that's on the table right now no will it get better when they pass something in the senate and it goes over the conference it will will president trump sign it yes he will and it will see a tremendous momentum builder for the economy of this greatest nation on god's greener there's no question you need omega3s but which form should you take fish oil or krill oil scientists have.
"glenn hubbard" Discussed on Bloomberg Radio New York
"In a passive context so they're not going to touch that but he certainly does want they fed chair that will not be too heavy footed on the brake pedal if we are going to get a little bit more growth be it in the long run or temporarily from tax cuts in so you you need one of two things either you need a a a story i'd supply sider economist who's willing to make the the suspension of disbelief that attacks cuts will pay for themselves in could may be raise the speed limit of the economy the possible in theory not necessarily guaranteed or on the other hand rather than the starry eyed supply sider he needed died in the wool labor economist who thinks that maybe we can fix a lot of the problems endemic in the economy whether it's a skyrocketing transfer payments in the end disability payments all of these types of social costs and even bending the trend labourforce participation by allowing the economy to run hot and so that means you either get the starry eyed supply sider the glenn hubbard's of the world or you can stich was someone like janet yellen still basically passes the litmus test but for reasons not necessarily aligned with the administration's goals i wanna thank you very much carl riccadonna as always our chief us economist for a bloomberg intelligence a lotta digest but really very interesting a connection to the potential for a new chief of the federal reserve and we are awaiting a conversation between our own tom keene and the the head of the imf christine lagarde they are attending the course the imf world bank meeting in washington dc and i'm sure that they're topic is going to be a global growth let's go to washington in here what's going on bloomberg radio.
"glenn hubbard" Discussed on KBNP AM 1410
"The imf was simply reasserting what the trump administration itself had claimed in their budget so no in terms of their economic officials i don't know i i when i i think there's a certain interest in not understanding these issues and when you have an interest in not understanding something it's it's very hard to teach it to someone but i always left about the annual meetings as dc becomes more fashionable at least five occupy the courts these but it's you have all these that are naturally come economic professionals at dow jas let me ask you about the theme of this year's at meetings of course in the past it's been greece or it's been the financial crisis it's the is the theme the imf and the world bank itself isn't multi lateralism is this a introspective conference this year looked first of all the good news is the theme isn't the global economy is much worse than we thought it was set were downgrading our forecasters was the main theme of the meetings for the for the last many years and yeah i think that does give us a little bit of a position to interest back and think about what a rulesbased multilateral system does ways they can be improved the heart of the matter for all of our listeners worldwide is the belief is that ancient belief taxes are bad if you cut taxes dance good and growth will improve i mean glenn hubbard was on the other day with an amendment of supplyside economics tours that he was very responsible frankly in his comments dr firmin that's not invitro spurs textbooks that wasn't in your textbooks at harvard where did this thought come from of trump tax reform policy if it's not the textbooks where do they come from the only way to cut taxes is to cut spending if you cut taxes without cutting spending you're just shifting the taxes to the future you're not actually cutting taxes in any meaningful sense if this administration wanted to put forward a series planned to cut entitlements and to cut taxes no i think there would be a set of values issues with that i might take issue with that but not on any arms economic growth but with temps economic growth this is an italian this is absolutely crucial if douglas holds ican was sitting here studying at princeton under brittan key the tool you furhman.
"glenn hubbard" Discussed on Bloomberg Radio New York
"Administration a couple of months ago put out a budget in which tax reform was not only revenueneutral but omb director mulvaney testified that that revenue tragedy was without a seeming any economic back to the tax cut under socalled conventional or dynamic scoring said the imf was simply reasserting what the trump administration itself had claimed in their budget so now in terms of their economic officials i know i i when i end there's a certain interest in not understanding these issues and when you have an interest in not understanding something it's it's very hard to teach at to someone but i always looked about the annual meetings as dc becomes more fashionable at least five occupy critic courts these meetings you have all these that are naturally can economic of professionals of town jake let me ask you about the theme of this year's at meetings of course in the past it's been greece or it's been the financial crisis it is the is the theme the imf and the world bank itself is it multi lateralism is this in introspective conference this here look first of all the good news is the theme isn't the global economy is much worse than we thought it was so were downgrading our forecasters was the main theme of the meetings for the for the last many years and yeah i think that does give us a little bit of a position to interest backed and think about what a rulesbased multilateral system does ways it can be improved the heart the matter for all of our listeners worldwide is a belief it's a ancient belief taxes are bad if you cut taxes that's good growth will improve i mean glenn hubbard was on the other day with an amendment of supplyside economics tours that he was very responsible frankly in his comments dr firmin that's not envy charred gaspar's textbooks that wasn't in your textbooks at harvard they wh where did this thought come from of trump tax reform policy if it's not in the textbooks where do they come from the only way to cut taxes is to cut spending if you cut taxes without cutting spending you're just shifting the taxes to the future you're not actually cutting taxes and any meaningful sense if this administration wanted to put forward a serious plan to cut entitlements and to cut taxes.
"glenn hubbard" Discussed on Bloomberg Radio New York
"To be okay now let's get down to the best nays less van wind down this balance sheet and that would be the major focus we have the three potential candidates to replace janet yellen next year saying yesterday the proposals by republican lawmakers and president trump's administration to cut taxes and roll back regulations would lead to faster economic growth that from glenn hubbard john taylor and kevin wars but yellen said that she thought a three percent would be something wonderful to accomplish over the next few years but she cast doubt on whether the trump administration can really do that she says it would be challenging what's what's your take a look so are too many obstacles in this way i saw identing the three percent gdp growth his very much achievable because we have a great locking washington secondly and most importantly as we go to us in august in september we have a major obstacles coming in terms of your debt ceiling and equity markides completely oh oblivious of that and all too if he'd dick at what is going to happen at the jackson hole the ec bs also baby coming on the and then tallying assam sodefor taping we'll also becoming so there are too many unknown variables that would alter impact the us market that not only what is taking place in the us but also what is taking place outside the years that three percent gdp growth is not realistic at old and i do concur with janet yellen on that mckay thank you very much our.