Former Obama economic adviser Robert Wolf and FreedomWorks economist Stephen Moore weigh in on the impact of the economy ahead of Election Day.
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Steve President Trump warning voters that a Biden presidency would lead to an economic disaster predicting a depression if Trump loses this election is a choice between a Trump super recovery or a Biden: depression youre, going to have a depression, your 401ks look, how great our stock market had a little blip yesterday, because Nancy Pelosi not approve stimulus, Steve. Meanwhile, a new politico report says Wall Street is growing giddy in their words about a Biden victory. So who will the voters pick as the better caught to lead on the economy a week from yesterday here to discuss on the left side of the screen, former Obama, economic adviser and Fox NEWS contributor, Robert Wolf and minute of the White House Economic Recovery Task Force, Steve Moore Screen right good morning, guys good to see you Steve, okay,
Steve Moore whats, the president talking about how? If Joe Biden is elected, theres, going to be a depression? Well, first of all, the big big news comes out exactly twenty four hours. From now, when we get the West economic report, probably in a hundred years in this country and thats gdp in the third quarter, which this September was up somewhere between thirty three and thirty five percent, its AP amazing report- every indication right now is so to about the economy positive about the economy. Look at manufacturing construction, the housing market, its hotter than its been in probably fifty years. Small business confidence is up were riding on the back of secretariat and the question is: do you want to change horses? In my opinion? Look. I do think that the Biden agenda is very scary for not so much investors, but for workers you get rid of the oil and gas industry the which is something
that Biden admitted he wantedded to do. If you raise those taxes by four dollars trillion over a decade, I just dont see how that creating jobs. Steve Robert over to you well Steve didnt answer the question: the recession happened during the Trump administration. The last recession happened during the Bush administration and, if you actually look at the history, almost all the recessions take place when there is a republican president. The stock markets actually done better under both President Clinton and President Obama than it does under Trump. With respect to the article youre talking about Ben whites, political article, financial services are all in for Biden for the most part, because he has a plan. President Trump doesnt have plan the build back better plan actually does better with jobs than the Trump plan. The Trump plan is payroll. Tax cuts, its not a plan, its a blunt force instrument that doesnt help those unemployed, and I would say to Steve on the GDP number im hoping for a great number but Steve. You
know just to get call this year. We need GDP to be fifty five percent just to be equal this year, and fifty percent of the people that lost jobs still are out of work. So this idea that all of a sudden, its the greatest and SEC Retear Yacht thats all b dot S, Steve Elle, say that tell Robert. Let me respond to that. First of all, you know the GDP would have been up by about zero percent if it werent for the blue states that are all shut down by the way Steve im in Chicago right now, the mayor of Chicago has just shut down the restaurants. Again I mean just at the very time the city is starting to get back on its feet, its like a ghost town, and you see that in New York you see it in Chicago. You see whats happening, you just reported what is happening in Philadelphia. I mean Robert. How can you justify these actions by these democratic governors and mayors that are shutting down their economies at a time? Weve got to
get our economy running again once again, not accurate. Over thirty five states, red and blue are seeing covid cases spiking its amazing. The White House is now a hot spot, so lets not talk about who is handling the pandemic. Well, its overwhelming people want to switch from Trump to Biden because he has not handled the pandemic. Well, this idea also that blue states, the red States, run literally seven of the top ten deficits that take federal money are run by red states. They take federal money. You know your facts are opposite on that right. We should go back to when you were conservative and worried about deficits, because you would not be able to say that about the Steve, Steve 15. Second rebuttal Massachusetts, New York, Illinois and New Jersey have the highest death rates. What do they all have in common? They have democratic governors. Nine of the ten astronauts Robert today with the highest unemployment rates, are run by Democrats.
Is that what you want for the country? Steve Robert fifteen? Second final word on Tuesday were winning those states thats. Why youre giving them to us already Steve a week from today? Well.
Transcript generated on 2020-10-28.