Former Obama economic adviser Robert Wolf and White House economic recovery task force member Stephen Moore analyze Biden’s White House administration picks on ‘Fox & Friends.’
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Steve Joe Bidens economic team,
Steve Joe Bidens economic team
under scrutiny,
critics calling it the return of
the Obama economists.
The Wall Street Journal says
if Joe Biden is trying to
distinct, distinguish his
emerging administration from
Barack Obamas. He has not
succeeded in the choice of
economic advisers he rolled out
Monday.
They are Obama veterans who
believe in more spending more
regulations, higher tanks and
easier money
here with reaction, Fox NEWS,
contributor and former Obama,
economic adviser, Robert Wolf
screen left and member of the
Trump White House Economic
Recovery task force. Stephen
Moore screen right
good morning to both of you
guys
good morning, Steve
Good Morning, nice thanks for
having me on
Steve Robert. We thought you
would be on the list threw are
sitting in your house rather
than going to Delaware. Thank you
very much.
I couldnt be on this great
show on a weekly basis. If I was
up there,
im choosing
Steve Priorities
so Robert. What do you make of
that? That essential? This
essentially is just a rehash of
bunch of people from the Obama
years to which people would say.
That would mean more of Obama
than Biden.
I dont like your repoint.
They are incredibly smart and
experienced and dealt with a
tough economic environment. No
one is going to criticize her
a bunch of Republicans have
applauded her choice.
When you look at President Elect
Bidens Cabinet selection, there
is really two focuses and very
different than president trumps
focuses.
One is on labor, which is really
where a lot of them have spent
their time,
JANET Yellen, Cecilia Ross. They
have been very strong on the
labor side, which we still need.
We are still down over
ten million jobs.
The second part is, they are very
strong with respect to climate
action,
Brian geese at Black Rock and
Jared Bernstein, and others
focused on climate as well
definitely differential in this
administration, where we dont
believe the trickle down
economics.
The choice was made and
President Elect Biden will be
the president on January, 20Th,
Steve now for a completely
different point of view, Steven
Well Steve. First of all, the
reason Robert Wolf is not going
to the administration. He wants
to play golf every day
that would have kept him from
the golf course
no seriously. I think Robert
raises an important point
that one of the highest
priorities of this
administration is going to be
climate change.
Now think about that Steve.
Here we are in the middle of a
pandemic. Still millions of
people unemployed,
schools, closed down a
healthcare crisis,
crime in the streets, and this
president says the highest
priority is climate change.
I mean that tells you obsession
with wind mills and solar power
that this incoming
administration will have
the big problem with the retread
of the Obama people and by the
way I agree with Robert.
I think JANET Yellen is a highly
skilled person,
but the fact is that those
policies Robert that were put
in place under Barack Obama
didnt work very well.
We had kind of anemic economy
for eight years,
one of the reasons that Donald
Trump won the election in the
first place in twenty sixteen, I dont
think the american people want a
retread of those policies, much
higher growth under President
Trump
Steve Robert. I know you want
to answer that. I want to get in
one different question
and it regards the pandemic.
I have to reply to that.
Steve. Okay,
President Obama had more job
gains, higher g dot, DP, better
stock market. We are going to
have a president leave office
that has lost jobs and has had a
lower g dot dp and had a higher
deficit
facts Matter Steve.
I know you dont want to make
like the last year happened,
but even before that, okay,
President Obamas actually two point: three
g dot, dp versus two point: five,
two hundred and twenty five thousand jobs
is not what you want, but facts
do matter
all right. Robert first of
all, the poverty rate under
Donald Trump fell to its lowest
level. In the history of America,
the unemployment fell to the
Onest level,
Steve one at a time
greatest economic boon. Ever
this is a key point, Steve
right now the economy is doing
incredibly well.
This is the swiftest recovery
from a recession we have ever
had.
The latest indication is that
the growth rate for the fourth
quarter is going to be eleven percent.
Robert
eleven percent on touch.
We lost more jobs last week
highest month since October.
Come on man,
you are not serious,
I am serious
Steve. He is serious.
All right.
Let me get to my question
Steven had asked about had
mentioned the pandemic.
You know we have only got a
couple of weeks before the end
of the year and a lot of people
are really hurting in this
country.
So Robert, we are going to
start with you.
I know the house passed a guy
began. If I can relief bill
months ago, that was so unserious
according to Mitch Mcconnell,
they havent even considered it.
We are getting to the end of the
year.
Today. Nancy Pelosi is going to
take up legalizing pout at the
federal level and what to do
about big cats?
Kevin Mccarthy says she is
dealing with cannabis and cats
rather than Covid
isnt it in the best interest of
the country. For the Republicans
and Democrats to get closer on a
deal,
it seems like speaker, Pelosi is
inflexible.
She wants to back up the truck
and get as much as she can
Steve thats, not fully
accurate
one. The deal was passed by the
Heros act back in May,
the Senate hasnt brought a deal
to the floor
im one hundred percent propony
negligent of Cares act two.
You know that I said pass the
deal
find a compromise.
I dont care. If its a trillion
dollars,
I dont care what it is. We need
to pass a deal,
Steve thats, what im saying
pass the eviction moratorium
and we definitely need to help
small businesses.
So there is no question. Pass a
deal.
Congress get back to work,
Steve, no kidding
all right
Steven you get! The final word
look
another trillion dollar debt
bomb spending bill is not going
to solve our problems.
We have a very robust economic
recovery going on right now
I dont care. You know you
talked about facts matter.
We have had the biggest
reduction in the unemployment
rate. It
took Trump five months to get
the unemployment rate down below
seven percent Robert. It took Obama five
years to get the unemployment
rate down to seven percent.
Here is the most important point
of all Steve
the stimulus that the american
people economy needs. Right now
is the vaccine,
and this is one of the greatest
triumphs of american policy
since D day.
What Donald Trump has gotten
this vaccine out in ten months?
Nobody thought that was
possible.
Congratulations, Donald, J,
Trump,
Steve yeah.
We are waiting for that. All
right Steven and Robert.
Transcript generated on 2020-12-02.