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.