Saving Our Economy

" Down the road. Well instead of spending may be upwards of a trillion bucks on stimulus would the president elect do more for the economy by simply cutting taxes for everybody so they Scotland alluding to. Former -- Virginia GOP chairwoman Kate -- showing joins us now on Dan Weiss also with -- disagrees he's with the center for American. Progress -- Dan thank you very much for joining us here on your world. K we just -- to -- Scott Garrett albeit a Republican of New Jersey why not do something for the private sector here which at least can create longer lasting. Meaningful jobs that might exist when all the roads are filled the potholes are are are fixed."

" You know history is sadness that massive government investment does only increase the size and scope of government instead of providing for long term recovery. As opposed to tax cuts particularly for businesses small and large and higher income individuals as well as middle class individuals. That provides for long term growth if you look at the depression. I'm this I'm stimulus package to be far greater than anything we've seen an entire history. Government spending during the depression is argued grad turned it into a Great Depression and increasing unemployment the real answer here -- we can see for history. If you cut those marginal tax rates across the board so that we can. I'm focus on stimulating. And the private investment I'm not just building and increasing the size and scope of government and and the dead are children."

" Well we know that probably not going to happen to analyze why would just be good for the economy. The stimulus package yes. The stimulus package would be good because -- put people back to work much more quickly than other measures you know the proposal that Kate just talked about was tried before in 1981. And we create huge tax cuts and you know what happened. We that it led to the second -- of a double dip recession. The worst recession since the 1930s. So we you know we had nothing but tax cuts for the last eight years and look where we are it makes no sense to give a tax cut to ExxonMobil who's made -- going to make forty billion dollars in profits this year. They don't need any more money ExxonMobil ExxonMobil then also paid more than a hundred billion dollars a year. In income taxes what we need to do is put people back to work. Fixing roads fixing bridges -- rising schools saving energy all of those are private sector jobs in construction and lead to more jobs in manufacturing. This would put people back to work to get money back in the economy where it's needed. Rather giving tax cuts to ExxonMobil. And you know doubted data on -- they employ about 300000 Americans but that's a different argumentation on Saddam Hussein. "

" The small businesses and large businesses do create jobs. And giving cuts to these businesses giving putting money back into the private sector is what's going to stimulate the economy. Government spending might be a short term solution of the way Ronald Reagan's tax cut that he signed in 1980 wanted to begin anger at at during a reception. Actually mention the greatest time of on economic growth in our history I can't say everything and I'm that would."

" Okay you're mistaken about that because after pat I didn't want an eighty Q they have to repeal those tax cuts could have done such damage the economy and him and rose."

" Time to act is our increase. Then jobless gunned down government debt goes and the economy stop citizen and you Obama administration recognizes that because now other saying. That we can't immediately pull back. President Bush's tax cuts on higher income Americans because they know. But the impact on the economy will be disastrous. What you do to stimulate the economy is cut tax rates. Particularly those individuals who are able to spend money. You want private money being invested back into our economy to the economy is by -- rich don't want to be passing on a trillion dollars worth of debt. To our children you know who'll never be able to pay it back."

" Well K that if that's the case I hope you oppose the Iraq War because that's how that at least. Half a trillion dollars in debt right there secondly it's important to note that we're going to investigate things are going to have long lasting benefit."

" Better roads better bridges don't collapse were they -- government that will burden our children our generation but didn't."

" McCain you know a day there is right the infrastructure in this nation in some respects his Third World train stations look at the airport's. I don't agree began on that point. -- a concern I have is what about the jobs let's say we create a couple of jobs over the next two years road crews bridges when that's done and where do these people then go to work well."

" Help stimulate the economy to create more jobs those are not going to be make work jobs the city jobs construction can lead to jobs increase in manufacturing if it will help reduce the government costs by. It would if we make a government buildings more energy efficient that would save money on energy. All these things will lead to. And more jobs did it theory went could pat turner and two what's his name with the funny hair. The theory that is not going to really help get the economy going we've tried that."

" In the last eight years of the area where we are if -- theory was correct that states would be in a perfect situation right now because we have watched. State spending across the country increase exponentially are they are here economy stimulated know they are coming to the federal government bagging. For bailouts now suing didn't work at the same level it doesn't work at the federal level -- Obama. Let it also include middle class and low income tax heeding the meaning they know and I don't know that I'm -- out -- the front and hate on mobile that if --"

" I think you know I -- Delahoussaye in this Dan is that Washington better be very careful about continuing to bad mouth Exxon and other companies look at Transocean offshore just moved to Switzerland Halliburton moved to Dubai. You know got to be very careful about backers -- nothing keeping these companies in America they might just decide to pack up and move. If people keep national."

" You know -- Exxon Mobil's going to make over forty billion dollars -- that came from that came from our pockets to -- they were benefited. From higher oil prices that they had nothing to do with."

" Our -- controlled oil market they controlled 3% of the world's oil supply what that's right controls 3% heavy -- has any control over prices that's right and so they benefited from something that had nothing to do with their level of investment. -- OK hey it's a good discussion please come back we'll we'll -- talk or meet you and you can keep talking about it. It's about as some back it's a good argument on both sides Dan -- center for American progress -- been saying thank you very much both of you it. You appreciate -- happy new year happy new year as well thank you I'm getting my shovel ready."