35 Burst results for "Kevin Hassett"

Biden is already facing pressure to scale back his $1.9 trillion Covid relief plan

Marketplace with Kai Ryssdal

02:24 min | Last month

Biden is already facing pressure to scale back his $1.9 trillion Covid relief plan

"Heather let me start with you And the president's plans for this economy specifically the one point nine trillion dollar Relief i think he calls it a rescue package that he has proposed though not yet sent to congress. I wonder given how tight things. On capitol hill in the house and the senate and already expressions of disapproval from some of their Whether we're not going to see this thing picked apart and done kind of piecemeal ish instead of in one big whack. Yeah you're right. This is certainly not been a love fest. From from the republican side for joe biden. Those message of unity. was great on wednesday. But it didn't hold for thursday and friday So i think it's a really hard call for joe biden. He's going to have to make it. If there isn't a breakthrough in the next week. There's going to be a meeting this weekend. Between binds top economic advisers and some of those more centrist democrats and republicans. But if there isn't a breakthrough in the next week or so. He's going to have to decide. Do i basically chop the bill in half and do what's really popular those another round of checks and more money for vaccines. Most people can get behind those things and basically or do does he really stick to his guns and wanna do go big do something closer to two trillion that has more of those democratic wishlist items like state and local aid in which case that's going to have to be a democratic only bill but sudi Yesterday kevin hassett who used her on. The council of economic advisers for president trump came out and said if this bill is not passed. One point nine trillion. It could be. I don't think he said death. Spiral spiral for this economy. That is not good. yeah. Republicans are like kevin who never heard of them. We're we're we're focused on the deficit and the debt so suddenly it's taken days for them to wake up To to their concerns from the pre trump era and I am not going to declare honeymoon over yet but you can see the end of it coming right around the corner. We've gone from ditchmitch. Insurrection to inauguration It makes me wonder whether we'll ever get to infrastructure if we could get through something like this so it's just it's a very weird moment where We were talking about knack national and coming together with unity and Within weeks we're going to go straight to budget reconciliation. The way around the idea and unity

Joe Biden Capitol Hill Heather Kevin Hassett President Trump Senate Congress Council Of Economic Advisers Kevin
"kevin hassett" Discussed on State of the Union with Jake Tapper

State of the Union with Jake Tapper

08:44 min | 10 months ago

"kevin hassett" Discussed on State of the Union with Jake Tapper

"The out is the governor of New Jersey Democrat. Phil Murphy Governor. Thank you so much for joining me. It is Memorial Day weekend Many people mark this as the unofficial start of the summer you did open beaches in your state with restrictions like capacity limits social distancing and In some counties no swimming at all our people following your guidelines. Then it's good to be back with you. It's too early to tell and I think for the most part New Jersey has done an extraordinary job following our guidelines. I say it's too early to tell not only just because it's Sunday and we're in the middle of the weekend but the weather has not cooperated. It was miserable yesterday. It's cold today. I'm heading down the shore myself right after I finish up with you. I'll see it with my own eyes but for the most part folks have been extraordinary. It doing the right thing in the state now for going on two and a half plus months and I fully expect that will continue on the beaches even when when Mother Nature begins to cooperate with good weather? Giving her many parents can't even think about returning to work without wondering where they're going to send their kids. You haven't set a date yet for reopening daycare centers or camps. What should parents do well? You're absolutely right daycare. Irs is at or near the top of our list. We understand we can't open up the our economy as we have begun to do already continuing to do and not give working parents an outlet an an opportunity to have their kids properly looked after right. Now it's limited only to essential frontline health care first responders. We have to open that up. My guess is that sooner than later. You know the big nuts crack. We're going to be daycare not just camps of it back to school in August and September and mass transit. Those are not easy ones to get stood up again in a way that remotely looks like it's an it's an old normal. That's a work in progress on all the above the CDC published reopening guidance for places of worship that includes providing hand sanitizer encouraging the use of masks cleaning their facilities daily. I to listen to what the president said about this on Friday. Some governors deemed liquor stores and abortion clinics is essential but if left out churches and other houses of worship. It's now right. I call upon governors to allow our churches and places of worship to open right now. If they don't do it I will override. The governor's yesterday your fellow democratic governor of Minnesota Tim Walls announced that he will allow places of worship to open and accommodate up to two hundred and fifty people. Are you gonNA follow his lead? A listen I'm not read into the decisions in terms of the facts of Minnesota might my jobs in New Jersey. I actually spoke to the president directly late in the day on Friday. We'll get there on on houses of worship. We actually have opened up our outdoor limits. Now to twenty five people out of doors will get to the indoor activity sooner than later and that includes probably at the top of the list worshiping. We want to do that. I personally want to do that. But we've got to do it right at the right pace. I would guess if we continue to see the progress that we've made a New Jersey notwithstanding extraordinary toll over eleven thousand blessed souls lost for the past several weeks weeks. We've seen a lot of good progress in the data and I would hope would get two houses of worship sooner the later. But we want to make sure we do it right responsibly. In that we don't kill anybody by doing too fast another Democratic Governor Illinois Jay Pritzker. He has said that groups of fifty people even in places of worship can't gather until there is a vaccine treatment or no cases and as you know experts say a vaccine is at least a year away so we'll in your state groups of fifty people including churches be able to gather indoors within the next year. I would hope so I would hope so again. I'm not read into the Illinois data facts on one hundred percent. My life is focused on the reality. Here we're the devastated. America are death. Toll is second only to New York. We still have in terms of per capita reality on New Hospitalizations. Total hospitalizations new fatalities. Were still number one or two in the nation so I would. I would hope we would get there against sooner than later indoors. No ventilation sedentary close proximity. Those are bad factors. So the question is what? Can you do about ventilation? What can you do about distancing as you rightfully out hyper pleading etcetera face coverings? I don't think we give enough credit to the impact that face covering can have again. I think we'll get there but I can't tell you one let's talk about your state of New Jersey. There's new research from Columbia University that says if New Jersey had put social distancing policies in place on March eighth it estimates five thousand five hundred lives could have been saved which would cut your states death toll and about half. I want you to look at the timeline of the actions in your state that You Talk. You obviously know this. But for our viewers on March ninth. You declared a state of emergency But it was two weeks later. March twenty first that you shutdown your state. The governor of Rhode Island has said that if if the governor would have known then what they know now that Rhode Island would have been shut down sooner. How do you feel about your actions in New Jersey? I think Dennis you'll look at what we did. There are very few states. That did it faster or more comprehensively than we did. And that's just a fact having said that if do I wish I knew then what I know. Now in that we realized that it wasn't just the first case on March fourth but in New York City and environs including in the counties that community in New York there were perhaps thousands of registered positive cases. If we had known that then obviously we would have. We would have accelerated even further but again. I don't think any state moved as fast or very few. Did at least or as comprehensively as we did again. I don't know anybody anybody any leader. Who would not say now if I knew then what I know now I would have done. Xyz Company among that that list. Before I let you go. I want to ask about your state's finances. According to Your State Treasurer New Jersey is estimated to have a revenue loss of ten billion dollars. You are calling on the federal government to provide states with more funding for first responders and healthcare workers. I'm not sure if you heard the president's economic adviser Kevin Hassett just before you he says it's very much. Tvd Any sounded Kind of doubtful. That states like yours need the kind of money that Democrats are asking for here in Washington We're also about to talk to Senator Rick. Scott a Florida. He opposes giving federal funding to states additional funding. What's going to happen in New Jersey if you can't get more federal dollars? I haven't taken my cues ever from Rick Scott. I won't now but I thought Kevin was reasonable but on this one I have to say I'm GONNA. I'm going to say time out. This is not abstract. We don't need to do a data crunch doing analysis. We announced a budget on Friday for the next four months and we had to or defer over five billion dollars of expenditures and this includes potentially laying-off educators firefighters police. Ems healthcare workers. This is not abstract. This is real. It's not a blue state issue. It's an American issue. It's not a legacy. You guys did manage yourselves in the past better. That has nothing to do with this. This is about keeping those front those those very frontline workers in their jobs do the heroic work. They're doing at our hour of need in the biggest health care crisis in the history of our country the biggest economic crisis in the history of our country. The last thing we need to do is to lay any of those folks off and increase the unemployment rate under serve our residents. So we need it. It's not just New Jersey. It's not just blue states. It's American states up and down the country Governor Phil Murphy of New Jersey. Thank you so much for joining me. This morning I appreciate it. Sir and coming up next to the divided America as the.

New Jersey president New York Governor Phil Murphy America Kevin Hassett Phil Murphy New York City Jay Pritzker Rhode Island Rick Scott Minnesota Irs CDC
U.S. Warns New China Law Jeopardizes Hong Kong’s Special Status

San Diego's Morning News with Ted and LaDona

00:22 sec | 10 months ago

U.S. Warns New China Law Jeopardizes Hong Kong’s Special Status

"Stocks are falling this Friday with the Dow dropping more than one hundred points as global tensions escalate top U. S. officials are warning that China's push to introduce new national security laws in Hong Kong could jeopardize the city special trade status one of president trump's top economic advisers Kevin Hassett told CNN his staff was studying possible retaliatory measures

China Hong Kong Donald Trump Kevin Hassett CNN President Trump
White House boosts protocols amid fears of virus spread

AP News Radio

00:49 sec | 10 months ago

White House boosts protocols amid fears of virus spread

"A trump adviser is worried with the corona virus making its way into the White House complex two people who work there are now known to have tested positive for the virus one of the president's valets and vice president pence's press secretary while the president says he's not worried about the virus spreading economic adviser Kevin Hassett says it's scary to go to work at the White House on CBS's face the nation Assam called the west wing a small crowded place it's you know a little bit risky but has it says there's also frequent testing and an excellent medical team the White House has moved to boost protocols with the president saying some people who interact closely with him will now be tested daily and says he and the president themselves will now get tests each day to Sager mag ani Washington

President Trump Pence Economic Adviser Kevin Hassett White House CBS Assam Vice President Press Secretary Ani Washington
"kevin hassett" Discussed on WCBS Newsradio 880

WCBS Newsradio 880

02:30 min | 10 months ago

"kevin hassett" Discussed on WCBS Newsradio 880

"More than forty eight hundred people have died in nursing homes statewide that number represents more than half the states total death toll vice president Mike pens will be at the White House tomorrow despite the fact that his press secretary tested positive for corona virus last week this comes as White House officials are under increasing scrutiny holding meetings without face coverings CBS news correspondent Nicole Killian has the latest from the White House at a meeting with military leaders this weekend no one including the president wore a mask but other White House staffers are taking precautions I've got a mass right here the fact is that do I practice the aggressive social distancing I'll wear a mask when I feel it's necessary it is scary to go to work a senior White House official tells CBS news there is no plan to require mask wearing and the participants in that weekend meeting were all tested beforehand CBS news has also learned the west wing will expand testing starting Monday and limit who is near the president and vice president Dr Anthony Fauci FDA commissioner Stephens Han and CDC director Robert Redfield will answer senators questions at a Tuesday hearing through video conference all three are self quarantining after exposure to covert nineteen Tuesday's hearing will allow administration officials to update senators regarding what federal state and local governments are doing to help Americans get back to work and school amid the pandemic the government said the unemployment rate is down fourteen point seven percent of the April statistics don't take into account the full month of job losses White House senior adviser Kevin Hassett says he expects unemployment to peak later this month or next month add or north of twenty percent but on CBS's face the nation he was unsure what's next to help the economy we've built a bridge that pretty much you know lasts for for quite a bit of time right now with that nine trillion dollars and then the question really becomes is phase for really going to be extending the bridge because we're not there yet or is it going to be focused on growth and making sure that now that they were on the other side that we have a healthy economy again that's White House senior adviser Kevin Hassett nine thirty six on WCBS sunnier at eight eighty and on demand only on the radio dot com app download it now and take us with you.

WCBS CDC Dr Anthony Fauci White House Mike pens senior adviser CBS Kevin Hassett vice president Robert Redfield director Stephens Han commissioner official Nicole Killian press secretary
Pelosi signals push for major new stimulus package

Tom Sullivan

00:29 sec | 10 months ago

Pelosi signals push for major new stimulus package

"House speaker Nancy Pelosi is signaling that Democrats will push for major new stimulus package including money for state and local governments trump senior adviser Kevin Hassett tells CNN's state of the union that the administration wants to see how existing funds are being spent I think that it's just premature given that the nine trillion dollars of aid that pass the last three phases given that that is still out there they're still a bunch of it is going to be delivered over the next month we think that we have a little moment the luxury of a moment to learn about what's going on so that the next step that we take can be prudent

Nancy Pelosi Kevin Hassett CNN Senior Adviser
Comparing the economic effect of the coronavirus to the great depression

WTOP 24 Hour News

00:21 sec | 10 months ago

Comparing the economic effect of the coronavirus to the great depression

"Though economists have been sounding alarms amid the corona virus White House economic adviser Kevin Hassett told CBS's face the nation they're a lot of economic differences between right now in the Great Depression here we understand why the economy slowing down and we expect that we can reverse it whereas in the depression there are a lot of other things a lot of policy errors and so on that made the whole thing

Kevin Hassett CBS White House Economic Adviser
30 million Americans have filed initial unemployment claims since mid-March

Garret Lewis

02:26 min | 11 months ago

30 million Americans have filed initial unemployment claims since mid-March

"With three point eight million more Americans filing new unemployment claims last week it's now more than thirty million laid off during the corona virus outbreak White House economic adviser Kevin Hassett tells fox the next monthly unemployment report comes out my guess is it's going to be something like nineteen percent which would be the biggest unemployment rate we've had since before the second World War but he says the worst will be behind us relatively soon if the virus is under control house speaker Nancy Pelosi says in the meantime a lot more small businesses need help from the federal government thirty million small businesses in the United States over now over two million have received assistance that's good maybe by three million another week or so but that's ten

Economic Adviser Kevin Hassett FOX Nancy Pelosi United States White House
President Trump meets with Florida Governor Ron DeSantis

Morning News with Manda Factor and Gregg Hersholt

00:33 sec | 11 months ago

President Trump meets with Florida Governor Ron DeSantis

"Trump is meeting at the White House for a governor Ron DeSantis this our Florida among the states that's loosening restrictions and opening some beaches the economic shockwaves continue from the coronavirus slowdown in lock down more than twenty six million people filing for unemployment assistance so far enough to worry some of the president's economic advisers including Kevin Hassett he said recently that the economic impact of covert nineteen could mirror that of the Great Depression today has been at the White House clarifying those comments stressing Congress is working on fixes an eight

Donald Trump White House Ron Desantis Florida President Trump Kevin Hassett Congress
U.S. Economy Faces Historic Shock

The Joe Piscopo Morning

00:36 sec | 11 months ago

U.S. Economy Faces Historic Shock

"He says there's no getting around it White House adviser Kevin Hassett predicts we'll see some really bad economic numbers in the coming weeks I think GDP growth in the second quarter is going to be no negative the number of Wall Street estimates are twenty negative twenty negative thirty percent of annual rate it's so that's because we've done something that's really unprecedented we basically stopped everything a treasury secretary Mnuchin predicts a major economic recovery once businesses start re opening on a large scale people get back to work he tells fox economy should start bouncing back big time around July

Kevin Hassett Mnuchin White House FOX
Kids in Spain relish outdoor hour as virus lockdowns ease

AP News Radio

00:40 sec | 11 months ago

Kids in Spain relish outdoor hour as virus lockdowns ease

"The White House is bracing for some tough economic numbers the next couple of months are gonna look terrible White House adviser Kevin Hassett you're going to see numbers that are as bad as anything that we've ever seen I think the unemployment rate is going to jump to a level probably around sixteen percent or even higher in the next job support and what about gross domestic product a common indicator used to track the health of the nation's economy I think good GDP growth in the second quarter is going to be you know negative big number Wall Street estimates are twenty negative twenty negative thirty percent annual rate the next jobs report is due out on may eighth actually after

White House Kevin Hassett
Mnuchin Sees Third-Quarter Rebound for U.S. Economy

Extreme Genes Family History Radio

00:33 sec | 11 months ago

Mnuchin Sees Third-Quarter Rebound for U.S. Economy

"Will be treasury secretary Steven Mnuchin says he sees an economic rebound this summer as we open up the economy in may and June you will begin to see the economy bounced back in July August September but Kevin Hassett chairman of the council of economic advisers to president trump suggests the economy won't turn back on like a light switch because we have the highest unemployment rate we've had since the Great Depression possibly a big negative GDP shocked ever gonna need really big thoughtful policies to make it so that people are optimistic again and they start the

Kevin Hassett Donald Trump Steven Mnuchin Chairman President Trump
"kevin hassett" Discussed on KNX 1070 NEWSRADIO

KNX 1070 NEWSRADIO

01:31 min | 11 months ago

"kevin hassett" Discussed on KNX 1070 NEWSRADIO

"Radio coming up White House adviser Kevin Hassett warns that the economy is in for a rough patch ahead more that story coming up at the top of the hour first traffic weather together every ten minutes on the five at one fifty five let's check in with Jeff Biggs it is Sunday morning but not a day off for Caltrans which has been going nonstop in Burbank on the big bridge demolition project with the five freeway completely closed in both directions from the one seventy to the one thirty four until Monday morning your best options are to take the one thirty four the one seventy or work going the other way the one seventy or even Hollywood way if you don't have to go that far Caltrans also as a full closure on both sides of the one oh five near LA acts at Sapulpa in commerce the northbound seven ten connector to the five is closed with only one lane open on the northbound seven ten from Atlantic band DD to the five and then on the southbound side of the seven ten the cones route from the five to Florence in the city of industry they are working on both sides of the sixty and finally it's not quite the return of the swarm but Caltrans is also back working on the eastbound sixty in San Bernadino as always please drive safely and don't speed with more traffic reports more often hi Jeff Biggs K. next ten seventy newsradio partly cloudy skies today look for highs in the low to mid seventies at the beaches mid to upper eighties inland Sunday night partly cloudy sky highs lows in the upper fifties to mid sixties and then Monday partly cloudy.

Kevin Hassett Jeff Biggs Caltrans Burbank LA Sapulpa San Bernadino White House Hollywood Florence Jeff Biggs K.
"kevin hassett" Discussed on KTRH

KTRH

01:50 min | 11 months ago

"kevin hassett" Discussed on KTRH

"Kevin Hassett is a senior advisor to president trump and he talked about plummeting oil prices on fox news on America's newsroom this is a very very short run disruption because again what happens the president said it exactly right is that we've stopped in order to control the virus and we've never really stopped an academy before and so strange things are gonna happen for a short while right now the Dow is down six hundred three that's two and a half percent S. and P. down eighty four that's nearly three percent nasdaq down two hundred ninety that's three point four percent Senate minority leader Chuck Schumer says he believes Democrats Republicans could agree to a deal for another corona virus we leave small business lending program today funds for the three hundred forty nine billion dollar paycheck protection program dried up but lawmakers have fought over terms of a deal to refill it on America's newsroom democratic congressman Dan Kildee of Michigan said needs to be a main street relief fund very small businesses we know that they're going to be forgivable loans we should get rid of the charade of treating it like a bank loan in just stand up and support the local relief fund would have been set up either by local governments or philanthropy we give them resources to get cash grants to the beauty shop to the barber shop in the donut shop that's the approach that I think makes more sense trump administration says it's doing everything possible to take control of the pandemic White House press secretary Kayleigh McEnany saying in a statement president trump is committed to protecting the health and economic well being of American citizens as we face unprecedented times also defending the planned executive order national security adviser Robert o'brien who appeared on fox and friends that the president's not can be.

Michigan executive press secretary White House senior advisor to president fox Robert o'brien Kayleigh McEnany Kevin Hassett congressman Dan Kildee Chuck Schumer president America trump
Coronavirus infects U.S. economy; millions face financial ruin

Fox News Sunday

01:44 min | 1 year ago

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

Phil Murphy New Jersey Andrew Cuomo New York Connecticut CNN Bill De Blasio Graham Glenn Hubbard Kevin Hassett Alan Blinder White House Chief Economist Vice Chairman
President Trump Announces Departure of Kevin Hassett, Economic Adviser

WSJ What's News

00:37 sec | 1 year ago

President Trump Announces Departure of Kevin Hassett, Economic Adviser

"President Trump announced on Twitter that Kevin Hassett the chairman of his council of economic advisers would be leaving his post, although the president didn't give a reason for his departure. Mr. Hassett told us in an interview that the move had quote been in the works for a good long time. He added that it was common for people to leave the post after around two years. President Trump said a successor would be named shortly. The position is largely seen as the chief economist of the White House duties include liaising with Federal Reserve officials and briefing, the president on economic data before it's released to the

President Trump Kevin Hassett Twitter Chief Economist Federal Reserve Chairman White House Two Years
Kevin Hassett, Trump And Advisor discussed on Laura Ingraham

Laura Ingraham

00:19 sec | 2 years ago

Kevin Hassett, Trump And Advisor discussed on Laura Ingraham

"The economy appears to be on a roll. The April jobs report is the best monthly performance in forty nine years. Trump economic advisor Kevin Hassett with perspective last time. The unemployment rate was this low. We're about to land on the moon for the first time. The last time the unemployment rate is this low for women. It was nineteen

Kevin Hassett Donald Trump Advisor Forty Nine Years
The White House Is Out With Its Annual Economic Report

Marketplace with Kai Ryssdal

02:22 min | 2 years ago

The White House Is Out With Its Annual Economic Report

"You are not ever gonna find from a Republican administration or democratic the annual economic report of the president on a bestseller list. But and it is usually worth spending some time with the thing. Doorstop size, though, it is seven hundred pages this year seven hundred five actually it's worth spending some time with the thing to get a sense of what the White House is thinking about this economy where it's been and where it is going, and what the council of economic advisers which actually wrote the report is thinking is hey things look pretty good. Thanks to the tax cut. So we got marketplace's Mariel Sagarra. She covers taxes for us. We got her on the phone for a little context. Hey. So let's let's do the top line thing. I the big thing gross domestic product overall economic growth. What is what does the council of economic advisors saying on there? Yeah. These GDP growth from the end of twenty seventeen to the end of twenty eighteen it was three point one percent in and then they actually made a guest what growth would have been if congress had never passed the tax law that came up with two point two percent. So the gap between those numbers to forty percent. Three point one percent. That's how much the tax law has supposedly boosted our economy. That's obviously a projection you we can't go back in time. Nobody knows for sure. But, you know, economists make estimates all the time that's reasonable. There were some other things going on in that same time period that could have boosted GDP oil prices went up, which led to investment in the US oil industry investment is a part of GDP. We also got a big spending Bill in two thousand eighteen that's a part of GDP. Economists told me that you would expect almost any tax cuts to boost the economy somewhat in the short term will. And that's the key thing there right because the predictions in the out years for this economy or substantially slower than what the White House says owner. Ask you about what Kevin Hassett, the chairman of the council of economic advisers, the guy who whose name is on this report. He pushed back against this talk of a sugar high. Right. What he say? Yeah. He said, you know, people say this is a sugar high that we had three percent growth, but that it's gonna fade away soon. He said, they don't think that's going to happen. Economist disagree on this. I think that's in part because there are short term and long term effects of a tax cut. You know in the short term a lot of economists say that they do think that the effects will fade away this year or next year.

Mariel Sagarra White House Kevin Hassett President Trump United States Congress Chairman One Percent Forty Percent Three Percent Two Percent
"kevin hassett" Discussed on Pod Save America

Pod Save America

04:14 min | 2 years ago

"kevin hassett" Discussed on Pod Save America

"I had a question for you. Which is so we're going on tour in like three weeks. Right. Yeah. And you are a noted famous nervous flyer. If the government is still shut down and. And airplane inspections or not happening at their usual rate. Are you coming onto tour with us? I don't know. I been thinking about this. And I thought like, okay. Well, it's February what v six we leave. And I'm like, yeah. Has to be things have to be back to normal by then. Because look. Yeah. It is fucking scary. And I saw a people on CNN saying it was like a someone who runs like the air traffic controllers union. You know, the the CNN anchor said, so do you think it's less safe to fly now than it was a month ago? She said, yes, you have courses let's say and that. Yeah. That made me fucking nervous. I mean, it's ridiculous that air traffic controllers and TSA agents and everything like that that we're putting all the strain on these people who were supposed to protect millions of American lives every single day over this imaginary Vulcan crisis at the border. Yeah. No it is. It is scary. This is absurd. I would bet that Sarah wick, the very very smart people who run your company have been planning for this. Or like investigating the cost of John Madden style. Bus to get you to Charleston in time for that show. Yeah. Charleston sort of that sort of a long flight also weaves take offence. It'd be a long bus ride, my friend. But what do you think the on the economic front like, you know, this has been Trump's one thing that he likes to point to the economy's never been doing better. And and now his own council of economic advisors saying that that they're going to have to revise down economic growth estimates. I think if I was a person who worked for Trump, which is that obviously is not something I can possibly imagine. But if if I were to do that, and you were trying to convince him to do to get out of this mess. The only way in which I think you would have any success was to say that the economy is historically the biggest determining factor in the re-election of incumbent presidents, and you're taking your single greatest asset, and you are single handedly poten- ruining it. Don't like Kevin Hassett who seem who is the head of the council of economic advisers who seems to be sort of a moron which is a hard thing to say about an actual economist. But every time he goes on TV, he suggests that he's quite stupid said that they failed to include a lot of the impact in their initial analysis. And now that you could we could actually see a contraction in the economy, the kinda me would shrink because of this really stupid temper tantrum from the from Trump, and I so it should that should be the thing. More than anything else in Trump is lives in a Fox News information bubble so he's probably unaware of the short term political pain. He's suffering, and he is constitutionally immune to to the to the actual human costs of this shutdown. The only way to I think convince him would be to explain how this affects him and this potentially effects Israel reelection in a railway also presidents tend to get blame for when the economy does poorly. They get credit for the. Economy does. Well, and a lot of economists will tell you that, you know, linking presidents to economic performance can often be tenuous, even though we all do it. Anyway, it's not often that you can actually point to a direct link between something that president did and economic performance. And in this case, if the economy contracts, if we tumble into recession, or you know, growth, even if growth flows down you can point directly to the shutdown which is caused directly by Donald Trump's actions as the cause of the economic slowdown. That's fairly unique it is and on top of that the credit radiation. Cs have suggested that if this is not fixed the next few weeks. They could downgrade the US's credit rating which could cause the market to tank and calls all kinds of other problems with the within the economy. It's a this would be one of the greatest self inflicted economic and political wounds in American history. Yes since the RIC..

Donald Trump Kevin Hassett president us Charleston CNN US Sarah wick John Madden Fox News Israel three weeks
"kevin hassett" Discussed on NewsRadio 1020 KDKA

NewsRadio 1020 KDKA

05:09 min | 2 years ago

"kevin hassett" Discussed on NewsRadio 1020 KDKA

"Guy named Kevin Hassett. And you think I don't know that name. Well, it's a good business card. Kevin is the White House council of economic advisors. Okay. He's the chairman he gets to sit at the end table. They bring the shrimp cocktails, then I. Kevin went on television Thursday. This is the Representative to the White House council of economic advisers. Listen and tell me if you get the impression they get it ready. He went on TV. And said a lot of federal employees were already planning to take time off between Christmas and new year. And so the government shutdown essentially gives them vacation for free. Quote, a huge share of government workers. We're gonna take vacation days say between Christmas and new years. And now, we we have a shutdown. So they can't go to work. So they have the vacation, but they don't have to use their very vacation days. And then they come back and they get their back pay, quote, then they're in some sense better off. I'm not going to give you a paycheck. You'll get it eventually, but you get time off. You're welcome. Eight six six three nine one ten twenty if you'd like to tax this tax who paid for Obama at Harvard. His Garton thing law school or still hidden, but go ahead and deny that that strange. If you want those I'll trade you straight up. I'll get all that information. You give me the president's tax returns. And we'll swap. Grades hidden to this day. I wish some of mine were jammed text bag GM here. Call drop thanks for letting me Barak. Hope y'all believe it is with y'all. Keep up the truth. Good program. Jimmy, call me anytime. Y'all. He's music to my ears Antony and Oakland Anthony, thanks for waiting. You're on Katie k high. I am African American. Yes, sir. I have a newsflash for all you conspiracy. Theorist type we think that of course, Obama was the maturity and candidate he's back. If that if these people didn't understand that he's a black person. Right. K was going to be scrutinized. He was going to become the first black president these here United States. He was scrutinized. He was given the the absolutely everywhere of every orifice of this man's lungs. So there's no way he was going to slide in there and be an imposter, please you sound ignorant when you make statements like that. Okay. Just. Dipping. Let me say this. Okay. You're fired up tonight. Man. It's it's just an absurd. It. I don't see dude. Here's the deal. I don't even get into whether or not something's ridiculous or not. If I already know that it's not relevant to the conversation in hand. I ain't got no brain cells. I ain't gonna be going back and forth. I got a clear stuff out to make room for new stuff. You know, what here's something that is relevant. The Democrats don't have to compromise about anything. They a month ago. A deal was done bills were completed by the house and the Senate in and was about to go on the president's desk for hidden inside it till the president answered the phone call from Rush Limbaugh and Ann Coulter, it told them the Knicks to deal, I think Hannity was connected to that too. So why should they compromise? When a deal was done. And there was a deal done a year ago for Dhaka for twenty five billion for his border security. He got another phone quite got a text message from from the same people on Fox News, and he turned up deal doubt. So we I mean, so what more people do if he's gonna keep listening to the right wing nutjob. Done. Wait a minute. Wait a minute. Wait a minute. It don't matter who he's listening to it matters. What he does. Because of the position you've got advisers. I want the people here's what I want. I could pick advisors number one. I'm sure I'd had a much smoother ride. But I would want one of two attributes if you're going to advise me, I want you do want only the best for me, or I want you to want only the worst for me what I do at the information that comes from each side that's up to me. But to talk about advisors doing this and these idiot. I want all spectrum of opinions around me. I want all of the options available before I decide whatever it is. I gotta decide. In.

president chairman Kevin Hassett Obama White House council of economi White House council of economi Garton Jimmy Representative Hannity Knicks Barak GM Katie k Fox News United States
Kevin Hassett says Apple’s China sales were hurt by Trump

Bloomberg Best

00:25 sec | 2 years ago

Kevin Hassett says Apple’s China sales were hurt by Trump

"By one tenth of one percent. Every two weeks we're pushing toward week three. Global news twenty four hours a day on air and a tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. This is Bloomberg. Byron Wein, vice chairman of the private wealth solutions group at Blackstone is out with his list of predictions for twenty nineteen

Byron Wein Vice Chairman Bloomberg Twitter Blackstone Twenty Four Hours One Percent Two Weeks
Fallout Grows As Partial Government Shutdown Drags On Into New Year

NPR's World Story of the Day

04:08 min | 2 years ago

Fallout Grows As Partial Government Shutdown Drags On Into New Year

"We are in day seven of the partial federal government shutdown, and there's no end in sight, President Trump wants congress to approve billions of dollars for a border wall. Democrats who are set to take control of the house next week saying, no, so far the effects of this shutdown have been relatively muted. Many people are taking time off for the holidays, but the fallout could grow if the shutdown stretches well into the new year as NPR's Scott Horsely reports the two weeks around Christmas are some of the busiest Joshua tree national park in California when rock climbers and car campers flocked to the high desert getaway the cactus and the campers are still there this week, but the Rangers would ordinarily patrol the park have been sent packing by the government, shutdown visitor centers are closed all the bathrooms are still open. But they're not being maintained right now by the park service. So the local community has rallied together and started cleaning the bathrooms and restocking. Toilet paper. John. The Riddick runs a nonprofit group called friends of Josh which. Three national park. He says those friends are grateful access to the park has not been cut off. But with the government shutdown approaching its second weekend, and no sign of compromise on the horizon, the rhetoric and others are digging in for what could be a long term project as dumpsters fill up and the pit toilets fill up. You know, what kind of solutions can we make to solve those problems? So far, the shutdown affecting about a quarter of the federal government has been little more than an inconvenience to some and invisible. Too many critical federal employees have stayed on the job. And while they're not being paid at the moment that won't really show up until their next paychecks are due January eleventh still Jacqueline Simon who's with the largest union federal workers says the longer the shutdown drags on the more widely its effects we felt your agency or affected by the funding wrap that had a little bit of money leftover her take him to the end of the year. But that money will be running out today Monday. And i'm. So more things will be shutting down the EPA. For example, has announced plans to hold operations at midnight tonight. This Massoni and museum and the national zoo will shutter their doors next week food stamps and the school lunch program or funded through January, but could take a hit after that. If the shutdown continues White House, it kind of has Kevin Hassett says the shutdown should not do lasting damage to the US economy. But he admits it could cause a blip in the unemployment rate. If hundreds of thousands of federal workers are still idle in a couple of weeks, if the shutdown extended through the job survey week about January tenth, then the government workers who are not reporting to work would show up in the unemployment statistics as well. But that would be more of a temporary thing. It's not something that we expect his really material for the outlive, social security and Medicare payments are still being made as usual, but applications for FHA back mortgages could be delayed FEMA briefly rattled the housing market. When the agency said it would. Up selling flood insurance policies during the shutdown Allen decker who has the insurance committee for the national association of realtors says that could have jeopardized as many as forty thousand home sales each month, if they're getting a mortgage, they gotta have flood insurance. And if they can't get the flood insurance or not able to get the mortgage, you know, the Bank requires it. So it's definitely can affect things under pressure. Fema backtrack late Friday instead it would resume selling flood insurance for now. Volunteers will keep scrubbing toilets at Joshua tree national park, but joined the Rettig says that's no substitute for the Park Rangers who ordinarily keep an eye on the native American rock, art and other history dotting the desert landscape. In unique artifacts up there that need to be protected by a fully staff National Park Service staff, and my concern is right now that those artifacts and those one of a kind kind of things in the park are unprotected. Unfortunately, that park protection like much of what the federal government does usually attracts little attention until it's gone. It's got Worsely NPR news. The White House.

Joshua Tree National Park Federal Government National Park Service Josh Rangers White House Kevin Hassett Park Rangers President Trump NPR Massoni And Museum National Association Of Realto Congress Scott Horsely EPA California Fema
"kevin hassett" Discussed on KQED Radio

KQED Radio

03:25 min | 2 years ago

"kevin hassett" Discussed on KQED Radio

"Kevin Hassett told NBC news today that fed chairman Jerome Powell's job is safe fears that the president would fire Powell over his decision to keep raising interest rates helped spark a Christmas Eve selloff on Wall Street. All of the major indexes are either at or near bear market territory. That means a twenty percent drop from an all time high and today more volatility the Dow at one point this afternoon up six hundred and thirty five points, a gain of nearly three percent for more. Let's go to Berliner senior business editor at NPR and early. Let's start with fed chairman Jerome Powell the White House now trying to make it clear that he's not going anywhere. What do we know as you said economic advisor Kevin Hassett said Powell's job is one hundred percent safe. This follows other administration officials including Steven Mnuchin says. Saying that the president understands he doesn't have the thirty two fire pow, but the one person who's been silent about Powell's job status is the President Donald Trump. Clearly the administration is trying to manage the situation as the market swooned the president has gone as far as encouraging people to buy the dip on Tuesday. He said this to reporters at the White House. We have companies the greatest in the world, and they're doing really, well, they have record kinds of numbers. So I think it's a tremendous opportunity to buy really a great opportunity is it normal for a president to to talk like this about markets when they're falling. Is is not normal at all and presents usually stay out of the way of the movements of markets. If markets fall they normally wait for them to rebound. The same thing if markets are going higher. They don't normally take credit for them. Because the inter stand that they could fall again and get blamed for them. So it's highly unusual as we said all of the US indexes are either at or near bear markets. Just take a look around the globe, though, Italy Japan, China, other countries that also have markets that are in bear territory. What's the financial picture around the world as we enter twenty nineteen well globally, the global economy seems to be slowing somewhat. China's growth is slowing. It's been going at a very rapid rate for years, as you know, but has slowed somewhat the US has kind of been leading the global economy twenty was very strong for the economy in the US. But if the US economy shows signs that it is starting to slow that growth the. The rest of the world economy will be affected. So there are concerns in Europe their concerns in in China about the the pace of global recovery. Does that mean that we should expect a fair amount of volatility for a while? Now. I mean what what's it gonna take for the markets to get back on track? Well, I mean markets become volatile. I think there's a sense of unreality about the markets over the past several years, they were quite calm and just went up steadily. But for markets to be volatile markets to fall ten percent or more. It's really not unusual. I mean, this decline has been sharp in recent months, but it's not really an extraordinary event. If you look at the history of the markets, and what will it take to stop? Well, somebody's going to have to say some brave souls going to say oh prices are getting pretty cheap. I'm going to start buying others will have to follow. All right, Berliner, senior business editor at NPR. Thanks for your time. You're welcome. And you're listening to here.

Jerome Powell president Kevin Hassett US Berliner China Donald Trump chairman White House business editor fed NPR Steven Mnuchin NBC Europe advisor
"kevin hassett" Discussed on NewsRadio 1080 KRLD

NewsRadio 1080 KRLD

02:21 min | 2 years ago

"kevin hassett" Discussed on NewsRadio 1080 KRLD

"By theraworx relief. I'm Pam Coulter. Nobody's calling it a Santa Clause rally, but stocks climbed as much as three percent today after dropping four sessions in a row seaport securities, Ted Weisberg. I think the only way to describe what we've seen this morning is perhaps a technical bounce from a market. That's way. Oversold? I don't think anything is any fundamental news at that has changed between the Monday. And today the Dow is now up over six hundred points in the market is on track for its best day in nine months. White house. Economic adviser Kevin Hassett says a lot of the recent volatility is due to overseas economic news. There have been some negative pieces of news say since last spring about fundamentals growth in Europe is slowed growth in Asia has slowed and so on and US multinationals make a little bit less than half the prophets all around the world. And so in the rest of the world is slowing down even though we're not it can be bad. News for prophets investors. Have also been nervous about President Trump's attacks on Federal Reserve chairman Jerome Powell, but has it says his job is one hundred percent safe. Nasdaq is now up two hundred and thirty points, a significant part of the federal government is still shut down. And Mr. Trump says nothing will change unless Democrats agree to fund his border wall. Cbs's chip Reid says it's not clear what will bring the two sides together. There was one offer from the White House to the Democrats on the hill of two point one billion dollars for border security and another four hundred million dollars for basically whatever else he needs. So maybe that money could go to the wall. But the Democrats say that four hundred million dollars is just a slush fund. The jet of an eight year old Guatemalan boy has prompted customs and border enforcement to make changes in the way children are cared for in US custody reporter, Janet sham. They're going to do a second check now. And it's not going to be. A full medical exam. But it sounds like they're going to take a closer look at all seven hundred of the children who are currently in the Al Paso region, which encompasses us here at Allen, the Boorda, and we don't know whether it's going to be enough. But clearly this has been a wakeup call for the agency supreme court Justice, Ruth, Bader Ginsburg is made of tough stuff a spokesperson for the supreme court says the Justice is now.

White house Mr. Trump chip Reid Pam Coulter Ted Weisberg Kevin Hassett Asia Economic adviser Federal Reserve Al Paso Cbs federal government US Bader Ginsburg Janet sham Jerome Powell
"kevin hassett" Discussed on Here & Now

Here & Now

03:19 min | 2 years ago

"kevin hassett" Discussed on Here & Now

"Kevin Hassett told NBC news today that fed chairman Jerome Powell's job is safe fears that the president would fire Powell over his decision to keep raising interest rates helped spark a Christmas Eve selloff on Wall Street. All of the major indexes are either at or near bear market territory. That means a twenty percent drop from an all time high. The Dow did open higher today. For more. Let's go to Berlin Berliner senior business editor NPR an early. Let's start with fed chairman Jerome Powell the White House now trying to make it clear. He is not going anywhere. Would we know? As you said economic advisor, Kevin Hassett said Powell's job is one hundred percent safe. This follows a other administration officials, including Steven Mnuchin saying that the president understands he doesn't have the authority to fire pow. But the one person who's been silent about POWs job status as the President Donald Trump. Clearly the administration is trying to manage this situation as the market swooned the president has gone as far as encouraging people to buy the dip on Tuesday. He said this to reporters at the White House companies greatest in the world, and they're doing really, well, they have record kinds of numbers. So I think it's a tremendous opportunity to buy really a great opportunity by is it normal for a president to to talk like this about markets when they're falling is is not normal at all present usually stay out of the way of the movements of markets. If markets fall they normally wait for them to rebound. The same thing if markets are going higher. They don't normally take credit for them. Because the understanding they could fall again and get blamed for them. So it's highly unusual as we said all of the US indexes are either at or near bear markets. Just take a look around the globe, though, Italy Japan, China other countries that also have markets that are embarrassed territory. What's the financial picture around the world as we enter twenty nineteen well globally, the global economy seems to be slowing somewhat. China's growth is slowing. It's been going at a very rapid rate for years, as you know, but has slowed somewhat the US has kind of leading the global economy. Twenty eighteen was very strong ear for the economy in the US. But if the US economy shows signs that it is starting to slow that growth the rest of the world economy will be affected. So their concerns in Europe their concerns and and China about the the pace of global recovery. Does that mean? We should expect a fair amount of volatility for a while. Now. I mean what what's it gonna take for the markets to get back on track? Well, I mean markets become Volvo. I think there was a sense of unreality about the markets over the past several years, they were quite calm and just went up steadily. But for markets to be volatile for markets to fall ten percent or more. It's really not unusual. I mean, this Klein has been sharp in recent months, but it's not really an extraordinary event. If you look at the history of the markets, and what will it take to stop? Well, somebody's going to have to say some brave souls going to say oh prices are getting pretty cheap. I'm going to start buying others will have to follow all right or Berliner senior business editor at NPR. Thanks for your time. You'll up..

Volvo Jerome Powell president US Kevin Hassett Donald Trump chairman China NPR business editor Berlin Berliner fed NBC Steven Mnuchin Berliner White House Europe
"kevin hassett" Discussed on C-SPAN Radio

C-SPAN Radio

02:34 min | 2 years ago

"kevin hassett" Discussed on C-SPAN Radio

"And markets is supposed to be that. If you cut your price more people will buy your product, you do not need to be Kevin Hassett or Michael strain to know that. And yet it is not buying large. How drug prices work in America. If a company lowers its price for a given drug the drug can actually become less desirable vis-a-vis its competition. Obviously consumers wouldn't look at it that way, but they don't decide which drugs are available. And at what cost that is decided by insurers, employers and pharmacy benefit managers, all of them are paid as a percentage of a drugs list price, if a drug's price drops, many patients will save, but those actually negotiating for the patients make less money. Here. We have another example of how the way we finance care is driving up the cost of carrots off the only way we ended up with a huge gap between drugs list prices and the net prices negotiated is because there is a third party in between the consumer and the product just as there isn't so much of healthcare. Ideally, the patients should be at the center of the system, but in many parts of healthcare, we do need to support patients to work with navigators to make the right decisions. And in those cases, like drug pricing. We need decision makers that aren't driven by different opposite incentives. Resetting this whole system and rewriting the rules of the road. So that drugs actually compete on price is necessary to building out a pricing system that meets the principles. I've laid out. Now, some parts of our drug pricing system do work well because incentives are largely aligned and consumers are in charge. That includes Medicare Part d which was built around the principles. I've laid out today. It harness the private sector and empowered consumers because it followed these principles it has actually been much more fiscally sustainable than ever expected. But there's still opportunities for improvement there. We recently proposed new flexibilities for plans to negotiate over drugs within what are known as the protected classes, six particular types of drugs were access is especially important. When party was created. We've put in place rules. I was their intended to be temporary that essentially require plans to cover all drugs in these classes. This undermined the plans ability to negotiate for lower prices, especially as more drugs in these classes entered the market and private sector plans developed new tools for pitting them against each other. Right now, part D gets an average discount of just six percent on these drugs while.

Kevin Hassett America Michael six percent
"kevin hassett" Discussed on The Economist Radio

The Economist Radio

03:42 min | 2 years ago

"kevin hassett" Discussed on The Economist Radio

"I'm helen. Joyce. Welcome to the economists money talks. It said now there are Konomi is the strongest it's ever been in the history of our country. And you just have to take a look at the numbers. I'd like to ask Kevin Hassett special program we hear from Dr Kevin Hassett, the chair of the council of economic advisors. That's one of the top officials in the Trump administration inside of our country. We are just setting records, and I'm gonna keep it that way. We'll have it a lot of fun. I'm here with our economics editor Henry Kerr who spoke to Dr Hassett Henry, what is this job? Exactly. The chair of the council of economic advisers is sort of like the president's internal think tank on economic matters. So typically, there's someone who's worked previously in academic economist or to think tank, and they provide more rigorous backing for the president's economic policies than you would typically find they try to justify themselves to economic policy wonks like me, and that's particularly interesting. In the Trump administration. Of course, whether all many of those around who try to give you a rigorous. Grounding of what the administration's trying to do. And so Henry you mess up with Dr Hassett. Yes, I meant to Hassett in a hotel. A stone's throw from the houses of parliament in London. I asked him what he made of the recent acceleration in economic growth in America. They've had too strong quarters of economic growth three point five percent and four point two percent. And I asked him whether this was just a short term sugar high spurred by President Trump's tax cuts, or whether it was something more sustainable sugar. High would be maybe a consumption burst. That was driven by something leg, the government mailing checks to people or the cash for clunker program in the previous recession comes to mind where we bought a bunch of used cars, and then people went out, but new cars what's happening now is we've cut the cost of capital. So we've made it cheaper to invest in the US. And so that means that the equilibrium capital stock in the US needs to climb. If you look at the history of capital. Doc adjustments. They tend to take a number of years because capital is costly to adjust. And so what we expected to see when we simulated this last fall was that we'd have capital spending boom that would drive growth above three this year. And then we get three percent sustained growth for a few years driven by the fact that the capital that was coming online would continue to do. So at a sort of gradual rate, but also start to reap because when you buy a new machine, you get GDP because of the investment, and then when you plug it in you get GDP because of the output of the machine, and so we think that that second phase is something that's definitely and train and could hardly be called the sugar high. So you disagree with the survey? Fresh full cost is it was out last week the average full cost in that was a one point eight percent growth in twenty twenty one point five percent in twenty twenty one Joe expecting foster growth for the foreseeable future. Right. And again, remember the GDP growth in two thousand sixteen in the US was one point six percent and that the growth forecasts from President Obama's. Council of economic advisors run by my close friend Jason permits. I don't mean to criticize them was that growth with average a little bit north of two over the next decade. And when we came out with our three percent forecast for this year. People said the forecast is ludicrous, and it was driven basically hard science that we've documented extensively in the economic for of the president. And we now see it in the data. That's talk about the labor markets and wages. If you look at some of wages, if you look at say, the employment cost index for wages and salaries the growth in that has been increasing steadily almost straight line over the last few years. So how then do you claim that as a wage started? When President Trump came to office. Well, first of all that it'd be go to the CA a Twitter account..

Dr Kevin Hassett president Dr Hassett Henry President Trump chair of the council of econom US Joyce Konomi Twitter Henry Kerr London editor Obama America Joe Jason three percent five percent eight percent six percent
New U.S. sanctions are expected to hit Iranians hard

The Frame

00:48 sec | 2 years ago

New U.S. sanctions are expected to hit Iranians hard

"Be quite a while before the tree of life synagogue can reopen was the scene of a brutal shooting last week when a man entered the synagogue and opened fire on worshipers killing eleven and wounding a number of others, including four police officers. Suspected gunman was arraigned this week on a forty four count indictment. Charging him with murder hate crimes. Obstructing the practice of religion. The White House says cheering another strong jobs report, which comes just days before the midterm elections. NPR's? Scott Horsely reports US employers added two hundred and fifty thousand jobs last month as the unemployment rate held steady the low three point seven percent. The jobs report top even some of the rosier projections, showing employers in all sorts of industries were hiring at a healthy clip. What's more the tight labor market is finally showing up in higher wages over the last year hourly wages grew by? Three point one percent. The fastest pace in nine years. White House economists Kevin Hassett says weekly paychecks grew even faster as many employees worked longer hours. Basically anyone who wants to work more at the job? They have is having an easy time doing some people who'd previously given up looking for work or not re entering the job market more than seven hundred thousand new workers joined the labor force last month. Most of those people found jobs, Scott Horsely, NPR news, Washington, the nation's trade gap. That's the difference between what other countries send to the US. An American firm send abroad wind in September Commerce Department says the trade gap had fifty four billion dollars up one point three percent from the previous month. Stocks ended would have been a brief string of obsessions. The market faltering amid concerns about device maker Apple's recent earnings numbers. The Dow fell one hundred nine points to twenty five thousand to seventy the NASDAQ closed down seventy seven points today, the standard and Poor's five hundred was down seventeen points. You're listening to NPR and. From KPCC news. I'm Nick Roman with the stories we're covering at seven hundred four the nation's immigration courts are dealing with a serious case backlog things got even Messier this week in L, A and other cities KPCC's less. They bear Stein. Roe Haas attorney Jean REEs was standing in line with a client outside the downtown LA immigration court this week when she noticed something was amiss. We weren't moving in line, which was odd.

NPR United States Scott Horsely White House Kpcc Murder Kevin Hassett Jean Rees Bear Stein Roe Haas Commerce Department Nick Roman Apple LA Washington Attorney
The Corporate Tax Cut Is Paying for Itself

Rick Hamada

04:12 min | 2 years ago

The Corporate Tax Cut Is Paying for Itself

"Tax cut is actually paying for itself. You remember there was a lot of hullabaloo over the corporate tax cut and how it's going to drive the deficit through the ceiling and the debt through the ceiling, and it's Armageddon and pretty much every democrat turned into a fiscal conservative furry. We couple of seconds because God forbid, you would actually borrow money to increase the debt to stimulate the economy. They would much prefer the throw that money at those shovel ready jobs print it, okay? The corporate tax. I'm going to get to that. But also, you this is stuff that you need to address. Most Americans have zero save for retirement the National Institute for retirement security zero and then the headlines risky market by one measure US. Stocks fifty percent pricier then at the two thousand top it's more expensive today than it was at the top of the market in the year. Two thousand a true bear market is really nowhere to be seen. So says veteran bull Ritz Bernstein. Who are we to believe? But I start with this. Steve Moore article was really really well done. I actually saw the presentation you may have as well that Kevin Hassett. The chairman of the Trump council of economic advisers. Gave on this topic. And I was impressed with him, by the way. But here's what Stephen Moore who you would assume I think he's from the Heritage Foundation would be a tad more objective than somebody from within the Trump administration. Although I think that Moore was on one of those committees once upon a time, so he probably leans right nonetheless. Here's what he said compare the August twenty eighteen economic forecast from the Congressional Budget Office with one from June twenty seventeen before the tax cuts passed and we discover some very good news. The much higher than expected economic growth in the wake of the Trump tax cuts means that you as gross domestic product will be higher than expected every year over the next decade every year over the next decade better than the dismal performance. We saw under the last administration that is still taking credit for what Trump did. No. It was the tax cuts. That really did this and the change in regulations and has Hassett in his presentation demonstrated that with two graphs, he showed one graph going down that was the trend line under Obama and one graph going up, and that's been the last two years under Trump. But I digress. I'm not an economist. Steve Moore is. Okay. Here we go. Even if we assume he says a reversion to the pre Trump one point nine percent growth path. Remember that new normal the new normal one point nine the ratchet up in GDP this year translates into one hundred seventy nine billion an unexpected output this year. Four hundred sixty five billion next year. Six hundred fifty four billion in twenty twenty. And so on this. Magic of compounding yields more than six trillion in additional GDP over the decade. Thanks to faster growth, that's already been achieved. And other words, we've already taken a bite out of the social security thing member. And I'll be the first one to criticize myself if there is criticism. Do

Stephen Moore Donald Trump Steve Moore Kevin Hassett Ritz Bernstein Congressional Budget Office United States Chairman Heritage Foundation National Institute Barack Obama Fifty Percent Nine Percent Two Years
"kevin hassett" Discussed on WAAM Talk 1600

WAAM Talk 1600

04:46 min | 2 years ago

"kevin hassett" Discussed on WAAM Talk 1600

"Hello. And welcome back. Hurry into this this next segment. We're going to do something here. Which is pretty much how we do everything on this radio program. Let me put this music. Don what we're gonna do here. Now, I'm gonna listen to this until the point where I think it's probably not worthy of listening to. But I think we'll get through all of it. It's Kevin Hassett. He's with the what's called the CA. That's the council on economic advisers and what he's doing is. He's taking apart the BS the black Jesus, the the Muslim Brotherhood Marxist that infiltrated the White House for eight frickin years is now out taking credit for all Donald Trump's accomplishments. With regard of the the economy's let's listen to them. This is Kevin Hassett chairman of CA, and he's debunking Obama for taking credit for Trump's a booming economy. Is that the strong economy that we're seeing is just a continuation of recent trends, and you know, since we're the nerds at the White House. We decided that this is a testable hypothesis. And so that what we. Can do as we can go out, and we can estimate recent trends that is trends that ran in the economy up to the point of the last election, and then compare the latest data to the reason trans- in most cases, by the way, the estimates of the trends that we present to you. Here are very statistically significant as are the deviations from the trend, and so as I always do show, you a few slides could I have the next slide, please that's the first light again Goethe. So the first slide that we're looking at is small business optimism, and this is basically for parallel construction, you're going to see that of the slides. We go through is gonna look a lot like this. And so the blue part to the left of the slide is what happened from the two thousand twelve election through the two thousand sixteen elections. Wade and the dotted blue line is the trend that President Trump inherited from the previous president and the red line is what actually happened with the data. So I think that if you look at this chart, you can see that the first thing is small business optimism the middle charges. The percent reporting. Now is a good time to expand the last one is the percents expecting higher real sales in six months. I think if you look at any of those you'd say, jeez that doesn't really look like the continuation. The next slide. Please. The next chart is something that in my I way way back last fall. We talked a lot about it's business investment, which is more than three hundred billion dollars over the trend. Again, if you look at the blue line on the left, the first charities non-residential fixed investment in the dotted line is the trend in the growth rate of that that President Trump inherited for the middle as chart is structures or buildings and that is you can see the line is something that's headed straight down. And then the final chart is investment. And that went straight down for President Trump was elected. And I think that if anyone were to assert that the capital spending, boom that we're seeing right now was a continuation of the trend that President Trump inherited, then well, you know, they wouldn't get a high grade and graduate school now, by the way, I'm gonna stop this here. What he's talking about is everything was on a downslide in terms of building in terms of investing in terms of doing. Anything American exceptional, and it wasn't necessarily my opinion. It wasn't a hundred percent attributed to the fact that there were high taxes that there were it was mainly huge regulation. And this was a a move to gut to excoriate American business American investment because Obama and crew wanted everything to move out of this country all of what they know to be exceptional. But warned admitted they wanted to outta here. And they wanted to take it out. So that well Greece could be exceptional or Rwanda could be exceptional something like that. That's what this has always been about don't doubt that. And let's continue that assertion the next chart. Please. Durable goods orders capital goods orders. It's a key part of the economy, and it's one of the factors that we look at most closely because it characterizes basically, the the good paying jobs the jobs that affects normal Americans blue collar Americans and the first chart is core capital goods orders and the second chart is core capital goods shipments. And if you look at it the blue again shows a clear downward trajectory in billions of dollars, and then that trajectory reversed itself completely went president. Trump was elected if you were going to assert that the current good news is just the extension of.

Donald Trump president Kevin Hassett White House Obama Don Wade Rwanda chairman Greece three hundred billion dollars hundred percent six months
"kevin hassett" Discussed on 1A

1A

03:16 min | 2 years ago

"kevin hassett" Discussed on 1A

"Dan Coats who obviously is one of the many people who has denied this, no, Josh. This. Anonymous op Ed came out just hours really after everybody was already talking about the excerpts from fear, Bob Woodward's, new book, lots of claims from sources, many of Bob Woodward sources. He claims to have done hundreds of interviews for this book. He released a phone call with President Trump. It proves at least from Woodward's point of view that he tried to get an interview with the president, lots and lots of incendiary charges that chief economic advisor, Gary Cohn steals documents from the president's desk so that the president won't sign them and won't remember in another President, Trump orders, Defense Secretary, Jim Mattis to kill Syrian President. Bashar Al Assad Madison says, okay, sir. Yes, hangs up and says, we're not doing that. Now, let's stipulate the president calls. It fake calls. It made up Bob Woodward produces some receipts, puts out in image of the very letter that Gary Cohn apparently took off the desk of the president that had to do with policy and South Korea, let. Let's note that this is where the Bob Woodward book and the New York Times anonymous op Ed converge. Verge. The thesis of Bob Woodward's book is that there's an administrative data within the Trump administration where the top advisors are working as much to contain the president as much as they are to advance their own preferred policies and going back to who this person who wrote that that New York Times op Ed is I, I agree with Anita that it's more likely someone in that national security realm. And I think there are a few clues in that sense. Number one, when you talk to Republicans on background, the business community may not like Trump's character, but they love the tax cuts. The Anjelica l- community. The social conservatives may may have problems with his personal behavior, but they like the socially conservative policies. It's the national security conservatives on background on record that are most concerned about where this administration is going, and it was also John McCain reference in that op it. And I think that if there's a clue, a lot of conservatives don't like John McCain, but the national security conservatives do and to give a little bit of a tribute to to the McCain funeral and McCain's legacy emit piece. The sugges-. That that might be from the foreign policy national security issue to you? The same challenge that I issued to Ron Elving journalist, Josh, do you have a name? I don't have a name, but you know, Nikki Haley, Mike Pompeo General Mattis. Those were names that came to mind three. They may have came to mind and probably others, Ron, and all of them who denied it and people are going to deny. I think we have to. We have to give make that a given, but there are people on the economic side who have come under suspicion and have been named as potential authors. For example, Kudlow another is Kevin Hassett. Both of them are on the economic side as KYW's of Larry cudlow very much from Gary cones world, and they are known to oppose the presidents tariffs. They are known to have a different view in some cases, particularly Kevin Hassett with regard to immigration, they are known to have been admirers of John McCain. So if that's enough to make you suspect, I guess those people could be suspect as well. We should also say that they are both people who have written good bit. They are both people who have been on television. Larry cudlow can be a very strong performer on television and has spent much of the last twenty years doing the gang. Let's move onto another story from this week at the intersection of media and politics on Sunday..

Bob Woodward president President Trump John McCain Gary Cohn Kevin Hassett President Ed New York Times Ron Elving Dan Coats Josh Bashar Al Assad Madison Larry cudlow Jim Mattis Nikki Haley Mike Pompeo General Mattis South Korea
"kevin hassett" Discussed on KQED Radio

KQED Radio

01:53 min | 3 years ago

"kevin hassett" Discussed on KQED Radio

"I've done a lot of work on over the years which is why one of has its favorite parts of the tax bill something that hasn't gotten much attention is financial support for what are called opportunity zones i think it's it's one of the things that in the end will look back on as the biggest deals in the tasks bill because what it's done is it's it's set up a vehicle the people can use to make a difference in distress communities he's made it so that there's a new and innovative organizational form which will which could be set up by mutual fund company or private equity firm or you know you and i went up and it becomes a pool of resources that can invest in distress communities and not pay taxes until you take the money out in distress community and the sort of key insight is that you could take your unrealized capital gain and roll it in distress community fund and then when you take the money out you'll pay full capital gain but you can start to try to make a difference right now without having a big tax consequence and i talked about how i think that distress communities are a bad nash equilibrium where nobody goes because nobody thinks anyone else is going to go and i think that everybody really wants to make a difference i think that the opportunities own could become a kind of social norm where people feel like some share of their wealth needs to give back and that if that happens then you get the new nashik librium where everyone's racing to get there before everybody else does so i'm very optimistic about this now granted it's something of an experiment but i think that there's a lot of smart linking behind economists are always preaching and other social scientists is let's use tax code and different law to start small experiments and try to scale them up so in the tax act is that kevin hassett special is that there because of you.

kevin hassett
"kevin hassett" Discussed on Freakonomics

Freakonomics

01:43 min | 3 years ago

"kevin hassett" Discussed on Freakonomics

"Happens the february day i visited kevin hassett in washington dc turned out to be a sunny and warm as philadelphia had been gray and cold has it works in the eisenhower executive office building next door to the white house i was escorted down a long hallway and into has its quite grand office he was wearing a cardigan that might best be described as a funkier so if you would just say your name and what you do sure i'm kevin hassett i'm the twenty ninth chairman of the president's council of economic advisers good you still enjoy getting to say that yeah yeah especially the number beautiful about the number twenty nine has it was a bit bleary eyed is this was the day before the publication of an important book there's two things really coming out in one book it's the economic report of the president which is a letter written by president trump or president whoever in the past the lays out his vision for how the economy's doing and how it could do better if we were to pursue his policies and then there's the annual report of the council of economic advisers which is for us i guess eight chapters that are substantive and go into what we know about his say infrastructure investment or tax reform the trump white house the most volatile end unusual white house in many generations was relatively stable when i visited this was a few weeks before the departure of gary cohn head of the national economic council reportedly over his objection to new tariffs on steel and aluminum and those tariffs that turned out were just the beginning.

kevin hassett chairman president president trump national economic council washington philadelphia eisenhower executive gary cohn
"kevin hassett" Discussed on WJNT 1180 AM

WJNT 1180 AM

01:36 min | 3 years ago

"kevin hassett" Discussed on WJNT 1180 AM

"Going forward plus better productivity means you can pay higher real wages to workers that is a that is a double header uh for us in the us economy that that uh at that's a new two big plus going forward john believe maker the all these big companies paying out wage bonuses or wage dividends not i've never seen anything quite like this and it seems to be spreading what what what what what what does that tell us well conquer credit you'll get a dollar attack got death of benefits they're going to go in terms of business investment capital but are also going to flow in terms of profits that can then be paid workers going forward i fortunately do work at wells fargo when we did in fact increase the minimum wage for workers uh that's what tax cuts go they don't go and they're not hidden they don't disappear the spacing quite frankly it don't all go to the quote rich right they benefit a lot of the workers who are daytoday people uh in many of these institutions and not such a key point konrad ms argument really an argument to kevin hassett of the c a made or began to make um ten twelve years ago i've taken i followed it and argued it for many years uh there's a lot of partisanship around this democrats don't agree republicans do but but but but i'm saying what what jonah saying the benefits of the corporate tax cut will flow through in largest measured to the workforce to the.

jonah us wells fargo konrad kevin hassett corporate tax ten twelve years
"kevin hassett" Discussed on WJR 760

WJR 760

02:19 min | 3 years ago

"kevin hassett" Discussed on WJR 760

"Talk to larry at eight eight eight kudlow to now more larry kudlow going back everybody larry kudlow we're going to continue to talk about the tax bill because it has such wide huge ramifications both in the economic world and the political world which of course are closely related our guest we bring in an old friend kevin hassett kevin is a chairman of the council of economic advisers uh formerly director of economic policy studies at the american enterprise institute so kevin first of all welcome back happy holidays larry happy holiday and why can't we get three percent growth out of this why is the entire democratic party world democratic economists what what what front what what what can we get three percent growth out of this you know i don't i don't think they're right every economy flip not a republican thing were the or people who became visibly the center of both the obama and the clinton team's thank you know it it so if you look at those people they all basically told us that the stimulus the obama stimulus was going to give us fivepercent percent growth believe it or not were really fake vat and then ended up in the uh a big uh demandstimulus could pay for itself they said that uh but then they gave us regulation and high taxes for eight years in the fullest recovery on record selling don in and he's cut taxes and these deregulated these and you know we're putting together infrastructure plan now and i think what you combine all that than three percent growth is totally attainable as you know data go up day to go down things happen but i think that the central tendency growth is a lot higher now and that's really visible in the way markets are factoring in trump policies you know unlike the obama plans which says you say were based on spending and spending multipliers and and higher taxes i mean obamacare itself as a gigantic tax increase hang over the economy and so forth but back to this issue uh there's a nice little piece from uh our friend scott hajj over to tax foundation raziq rip it is terrific which really came from the joint committee on taxation not my favorite model i mean i know they're professionals but her out of really think they have much of a.

larry kudlow chairman director american enterprise institute obama kevin hassett clinton obamacare three percent eight years fivepercent