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Biden team is return of Obama economists: report

2020-12-02 | 🔗
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.