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What will Joe Biden's economy look like compared to Trump's?

2020-08-19 | 🔗
White House Economic Recovery Task Force member Stephen Moore and Fox News contributor Robert Wolf weigh in.
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Budget by one hundred and fifty dollars million Steve, Steve Brian, thank you. The stock market set too Rep one hour from now following yesterdays record high, ending the shortest bear market in Wall Street history. After the pandemic struck this as Bill Clinton addressed Dnc touting Joe Bidens economic genius watch. He can do it again. Joe Biden wants to build an economy, far better suited to our changing world better for young people better for families working and raising their kids better because of a living wage and access to affordable, higher education and health care. Steve here to discuss bidens potential impact on the economy, as you can see right there Fox news, contributor, Robert Wolf screen left and on the right member of the Trump White House Economic Recovery Task Force, Stephen Moore, Stephen Moore
Good Morning to both of you, Stephen youre. First, this time Joe Biden has helped us bring back from recession, and he can do it again. We are right at the edge of records again. This was something that the Democrats were going to. Let Trump have it over right now, its not doing so bad unemployment is terrible, but nonetheless the economy seems to be doing. Okay, Stephen well, the economy is coming back no question. This is a recovery. Now, for three months, its been pretty good nine point: two million jobs have come back now. Of course, we lost twenty million jobs during the height of the pandemic, so theres still a lot of work to be done. I think, quite frankly, Steve the real debate now that we are seeing signs of recovery. Do people think that Joe Biden or Donald Trump have the better formula for rebuilding this
economy? You know its so interesting listening to Bill Clinton, because the economy did great under Bill Clinton. Democratic president. The problem is that the democratic priority over the last twenty years has moved so far to the left, from where the kind of Bill Clinton Moderates were. I think voters really have to worry about the kind of left wing tax and spending regulated agenda. Steve Robert Stephen has a great question: what is Joe Bidens formula to rebuild the economy? Yeah? I want to unpack bunch of what Stephen said. The president called Super V shaped recovery. We lost twelve million jobs, twelve million have not come back. Sixty percent thats still a majority. Five million people have left the workforce. Our participation in the labor force is like sixty one percent, its horrific, and when we talk about first of all, we know that the stock market and
employment is not correlated. Otherwise, you should be telling Bill Clinton and Obama. Obama had return of one hundred and eighty percent, which is much better where we are than the Trump administration on the stock market, and you have to look at the return and thats how you look at the markets based on return and its not correlated by the way. I am in the market, and I want it to go up. We have to look at unemployment and right now we are in a recession. Yes, who has brought us out of the Bush recession, who brought us out of the other Bush recession. Both of those have been Democrats Clinton with Bush forty one Obama with Bush, forty three and yes, I believe Biden- will take us out of the Trump recession Steve all right, Robert. I asked you what the formula was and didnt answer you. I can answer you Steve. I gave you a chance too bad next time. Obviously you were trying to dodge that. No, I wasnt trying to dodge anything Steve go ahead. Whats his
formula to get us out of this bring back manufacturing right, which we lost jobs in manufacturing. Lets make sure we have, in our opinion, education, six out of ten jobs, actually right skills and right training. We have a whole plan that we can talk about that ive talked about three times now. Steve keeps talking about the payroll tax. I think we should go back and look at the video tape and talking about the Biden economy, Steve all right, Stephen. You were shaking your head no during that, but the economy was doing great until the pandemic, so how much of where we are today is because of Donald trumps economic plan and how much dependent upon the pandemic, which is Nobodys Fault
Stephen, so lets go back. It was a decent economy, but only one of three Americans during Obama presidency rated the economy great. We saw more progress for black Americans, Hispanic Americans for Asian Americans and women in three years than eight years under Obama. Its a pretty powerful expansion here is the issue. People should look at Joe Bidens Economic Program, ive read through it. Robert and youve got massive tax increase and massive government spending and decapitate oil and gas industries, which is one of our major industries n the next fifteen years. Woe would have no oil and gas plan. I just dont see anything thats Progrowth in the program Steve all right. We will give Robert 15 second rebuttal, not accurate
its energy plan. Okay, as you know, number two we are talking about taxing those who make over four hundred thousand and trickle down. Economics has actually brought us into the recession and, lastly, whites and Minorityies Steve.
Transcript generated on 2020-08-19.