GOOLSBEE: I agree that language now doesn't sound that great. That's because obviously he's talking about the Detroit automakers, not Detroit the city.
HANNITY: We refuse to let Detroit go bankrupt. He didn't mean what he said?
GOOLSBEE: He should say the Detroit automakers.
HANNITY: I've been to Detroit. It looks like a war zone where they are bulldozing entire neighborhoods after 50 years of Democratic rule. Watch out the rest of the country.
GOOLSBEE: Wait a minute. Here's where I disagree with you. I agree it was a catchy line, but the fundamental problems of Detroit, they've had massive population loss in Detroit for the last 30 plus years.
HANNITY: Why would that be?
GOOLSBEE: A, they have massively concentrated industry so if you look at what are the three factors that have lead to successful cities over the last 50 years--
HANNITY: It's Bush's fault.
GOOLSBEE: I do not -- you are too sensitive about that. I do not blame it on Bush. This predates Bush by a long time. They had concentrated industries. They had a low skill work force, lowest education of all the big urban areas and they have very cold weather. Those three things combined do not bode well for cities.
HANNITY: That's why. It's the weather's fault, Hugh, it's cold in Detroit!
GOOLSBEE: Do I need to tell you that the Sun Belt has grown over the last 50 years and the colder states have gone down?
HEWITT: We need to focus on the fact that red America where Rick Perry is working, John Kasich in Ohio is recovering, and that in blue America where Detroit, it represents all of the president's policies, it's failing. It's actually kind of responsible for the president to give an hour and a half speech today and not mention Detroit, Sean. You've got the never ending speech there. How can an American president with the backdrop of this collapsing city behind him, refuse to even deal with reality. It's sort of emblematic. He doesn't deal with reality.
HANNITY: Let's dip into the speech again and let's see if this sounds like every other economics --
OBAMA: -- threaten the dreams that you worked a lifetime to build. As we speak, we're well on our way to fully implementing the Affordable Care Act. We're going to implement it.
GOOLSBEE: I'm going to start clapping with them, Sean.
HANNITY: What's that, Austan?
GOOLSBEE: I'm going to start clapping with the audience.
HANNITY: We're out of time. He forgot to mention that it's three times its estimated cost and it's going higher.
GOOLSBEE: It's still cutting the deficit.
HANNITY: By the way, even Jimmy Hoffa Jr. doesn't want it now. Nobody wants it. We can't afford it. It's the guy who wrote the bill Max Baucus calls it a train wreck.
HANNITY: Yes. Yes, want to bet?
GOOLSBEE: He's talking about a narrow implementation on one part of it.
HANNITY: Train wreck. Max Baucus wrote the bill, train wreck.
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