CEA Chairman Kevin Hassett Discusses USA Booming Economic Success….

Council of Economic Advisor Chairman Kevin Hassett appears with Lou Dobbs to discuss the current state of the U.S. economy.  Hassett compares current outcomes to the prior congressional budget office predictions; and shares the results for middle-class growth.

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This entry was posted in Budget, Donald Trump, Economy, NAFTA, President Trump, Trade Deal, Uncategorized, US Treasury, USA, USMCA. Bookmark the permalink.

31 Responses to CEA Chairman Kevin Hassett Discusses USA Booming Economic Success….

  1. JackB says:

    Serious question to all the financial experts: If the economy is booming why is the federal government running up a trillion dollars of debt each year for the next several years?

    Liked by 2 people

    • Robert Smith says:

      The spending spigot opened 10 years ago and neither party wants to turn it off. Money is power and they want to spend like sailors on leave. They have no interest in passing a real budget because that would infringe on their right to spend your grandchildren’s inheritance.

      Liked by 6 people

      • Bruce Fauth says:

        Before we Cantored Eric, he was babbling on about “real cuts”. I asked for a list of the ABCD’s (Agencies, Bureaus, Commissions and Departments) that would receive less actual dollars than the year before. His office’s response (they are required to respond to anyone in their District) was: “Thank you for your letter.” No mention of the topic, no mention of any even weasel response.

        Like

    • Garry Dauron says:

      That answer seems sadly obvious? The Congress has no spending discipline. When was the last time either party actually reduced spending? Even with 21 trillion in debt the House is unconcerned. The problem is only getting worse. The House are now demanding open borders, medicare for all and free college.

      The economy can not mitigate this type spending unless the GDP is 5.5% which is difficult to achieve with a 17 trillion economy. A balanced budget always makes someone unhappy and that is bad politics.

      Liked by 5 people

      • Jan says:

        Larry Kudlow said tonight the President’s budget calls for a 5% reduction in spending and/or they will sequester if Congress does NOT cut back spending. This President is trying. But as we all know our RINOs in Congress want nothing to do with reducing spending.

        I am re-reading Tom Clancy’s “Executive Order” where Jack Ryan ends up as President with virtually no Congress, no Supreme Court & almost no cabinet. Clancy was prescient. A lot of what our President is facing is what Jack Ryan faced. Some days I really wish a big 747 jet had crashed into the Capital Bldg. with a full Congress in the building when it crashes.

        Liked by 5 people

      • Robert Smith says:

        Btw, everyone assume Obama spygated people into compliance. And while I assume Obama did this as a matter of course, he just made sure everyone got paid – some more handsomely than others. So, yes, they took some silver for their compliance.

        Liked by 3 people

    • Deplore Able says:

      Obama sucked the life blood out of the Defense budget, leaving the country weaker. President Trump had to increase defense spending as a matter of national security. He had on choice. Look at the increases in the Defense budget in President Trump’s first two year.

      To get the increased in the Defense budget, President Trump had to compromise with the Dems on spending in other areas.

      The only way to cut the deficit is to limit the growth of spending and at the same time grow the economy. More people working means less people on welfare, food stamps and unemployment. More people working means more taxes into the government, even with lower tax rates. But it will take time.

      Ronald Reagan cut taxes and got the nation moving in the right direction. He set up the eventual fall of the Soviet Union, resulting in a peace dividend. GHW Bush didn’t read his own lips and caused a recession. Clinton reaped the benefits of President Reagan’s policy and achieved a balanced budget.

      This can happen again. However, we need to keep the economy growing which will increase revenue. We need fix healthcare to solve the money pit of Obamacare. We need to check the Chinese threat to national security. We need to break (without war) the axis of evil that starts in Moscow and runs through Damascus to Tehran. We need peace in the Middle East.

      The GDP of Russia is equivalent to the GDP of Texas. Let that sink in. When did you last purchase a Russian made car, a Russian made dishwasher or a Russian anything (except maybe for vodka)? The Russians can’t compete with the United States economically. That is what Reagan understood. That is why the Soviet Union is no more.

      The Russian economy is heavily dependent on oil revenue. Keep oil prices low. Doing so hurts the Russians and their allies in Tehran. Saudi Arabia and a United States exporting energy can help make that happen. Allow the Russians to be bogged down in Syria. Let them spend their treasure on the house of Assad. They will get tired of doing so.

      Regime change in Tehran will break the axis of evil. Then we can enjoy a new peace dividend so long as we can keep the Chinese from causing trouble.

      Liked by 4 people

      • Ghost says:

        👏👏👏👍👍👍

        Liked by 1 person

      • thesavvyinvester says:

        Able. Clinton got lucky as the personal computer/internet revolution happened on his watch that filled his political sails. That happened years before if you will with r & d in integrated circuits etc etc, some during the Reagan years. The two next paradigm shifting points to come are Gen 4 Nuclear and electric cars. The 2nd always gets me in a pissing match here and elsewhere. I don’t care, they laughed when I told them PDJT would win. I am in S.E. Michigan, I see and feel the changes and we all know it is coming especially with solid state batteries which are almost here. 350 mile range in a charge will be the norm. This will happen imho in PDJT’s 2nd term. Not investment advice but will the markets rock like they did in the 1990’s because of this..

        Liked by 3 people

        • irish19 says:

          A 350 mi. range is nice if one is just commuting or running errands. For a long trip, e.g. a vacation, it’s not nearly enough. How long does it take to charge one of these amazing new batteries?

          Like

      • Lindenlee says:

        Our Congress people are more and more only there to line their own pockets, and are increasingly useless. They are ignorant of economics, foreign policy, business, anything that truly affects our country. They make poor decisions (if they make ANY), and we live with the consequences, down the generations. They can’t solve even the problems that THEY make, much less the ones that others make. A completely dysfunctional body.

        I think that ONE THING might revive the body politic… An aggressive offensive from the Freedom Caucus, with lots of smart marketing to get past the MSM, the goal being to shock the American electorate into PAYING ATTENTION and GETTING INVOLVED, I. E…

        1) Introduce a Constitutional amendment to repeal the 17th AMENDMENT (The Senate is useless)
        2) A very aggressive campaign finance bill, prohibiting “excess campaign contributions” from being converted to personal wealth (this is how they get rich); restricting the amount of $$$ in out-of-district donations to 20%
        3) Require Reps to physically office from the district, while decreasing district population per Rep to 50,000 (get them out of DC, away from the lobbyists)
        4) Require Senators to office in their state capitols
        5) Add your own.

        Use this time to introduce proposals that come FROM THE VOTERS, EMPOWER THE VOTERS, make Nancy tell the American people why we can’t have reform of the corrupt system WE PAY FOR. BE AGRESSIVE, PUCH THEM BACK… They are weak, put them on the defense. Organize people to go door to door to talk to them about this, just a few streets in their neighborhood.

        Use the anger to put them in a vise. Be proactive.

        Like

  2. Caius Lowell says:

    I still feel sorry though for the DC bureaucrats. I mean, how are they going to get paid life-changing money if they’re not able to export American industries to foreign countries in exchange for nice, big kickbacks?

    Liked by 6 people

  3. Bendix says:

    How long were they telling us Americans were lazy?

    Liked by 5 people

    • woohoowee says:

      American politutes excell at disrespecting and throwing shade on their countrymen while selling them out to the highest bidder. Despicable! We deserve better countrymen.

      Liked by 3 people

  4. GB Bari says:

    Well it turns out that they were partialy correct. Look at the number of Americans who are still voting DemoncRAT and who now want Bernie or AOC-type Socialism to provide the things they just aren’t willing to work for.

    Liked by 4 people

  5. “One of the things President Trump looks forward to before….going to these states is the briefing on the economy he’s going to (State he’s going to visit)”

    Brilliant man our PDJT!! He’s paying attention to the Business Of America and not the local SJW/malcontent beef of the week. I LOVE this guy!!

    Liked by 1 person

  6. Zippy says:

    Amazing how massive spending using your credit card can give the appearance that all is well.

    Like

    • Zippy says:

      Assange and the Unforgivable Sin of Disemboweling Official Narratives
      April 12, 2019

      https://www.oftwominds.com/blogapr19/unforgivable-sin4-19.html

      There is really only one unforgivable sin in the political realm, and that’s destroying the official narrative by revealing the facts of the matter. This is why whistleblowers who make public the secret machinery of the elaborately artful lies underpinning all official narratives are hounded to the ends of the Earth.

      Employees of state entities such as Ellsberg, Manning and Snowden are bound by vows of secrecy and threatened by the promise of severe punishment. Outsiders such as Assange are even further beyond the pale because they can’t be accused of being traitors, as they never took the vows of secrecy required by the Deep State.

      The single most damaging revelation to all the elaborate lies that make up official narratives is the truth revealed in official emails, documents and conversations. This is why virtually every document and correspondence is now “classified,” so anyone releasing even a mundane scrap can be sentenced to rot in federal prison.

      In a recent C-SPAN interview, author Nomi Prins explained the incredible difficulty of accessing papers in presidential libraries now due to virtually everything being classified. Freedom of Information Act (FOIA) applications must be filed, and researchers must wait years to gain access to routine correspondence that was freely available to all a decade or so ago.

      Official paranoia has a 100% correlation with the amount of damage done to official narratives by any leaks of the facts of the matter. What are they so afraid of? Here’s the dynamic in play: the more fragile the narrative, the greater the dependence on half-truths and lies, the greater the official urgency to crush all whistleblowers and maintain a Stasi-like vigilance against any murmurs of dissent or doubt.

      If the entire contraption wasn’t so vulnerable to exposure and so dependent on lies, why the infinite paranoia? This paranoia extends past the present system of lies into the past, as exposing the lies in decades past calls into question the official narratives of today.

      Any doubt is extremely dangerous, as if even a single thread is pulled loose, the entire fabric of ginned-up statistics, false assurances, half-truths and outright lies unravels. Once the Pentagon Papers revealed the facts of the war in Vietnam, support for the official narrative collapsed essentially overnight.

      In the immortal words of Jean-Claude Juncker [President of the European Commission], when it becomes serious you have to lie [ https://www.telegraph.co.uk/news/worldnews/europe/eu/10874230/Jean-Claude-Juncker-profile-When-it-becomes-serious-you-have-to-lie.html ], and it’s now serious all the time.

      The entire global status quo is on the cusp of the S-Curve decline phase. Hence the vulnerability to disruption of its official narratives and the panicky paranoia of its handlers.

      Like

  7. beachbum31 says:

    Bill Ford has Trump to thank for this. There was a point this building had its windows stripped from it for scrap. PDJT will one day write in his memoirs about the strategy of automotive industry revival and the irony of this backdrop to have to ‘rebuild’…. and of course Fords headquarters I am pretty sure are represented by the piece of work known as Ms Talib

    Like

  8. CountryDoc says:

    We can get 2.55 Trillion directly from healthcare cuts, if we manage it right:
    Health care is 18% of GDP of 22 Trillion = $ Trillion
    U.S. health care costs 11K/patient/yr, next most expensive economies are 4K/pt/yr
    (Their health care and quality of health delivered is about as good overall, just not evenly distributed here in the U.S.)
    Therefore, with better utilization of funds, we could have similar health care with 36% (4/11) cost
    36% of 4 Trillion is 2.55 Trillion we could save

    Stop paying insurance companies up front, and giving them the control to maximize profits by preventing health care from being given, or from being paid for after the work is done

    Put sunshine on the pricing structure of health care and drugs
    Give voters/citizens some skin in the game about their health

    That’s not even counting the increased revenue that would come from:
    All the health care administrators developing real wealth instead of extorting health care dollars
    Improved productivity/less disability by really combating obesity, smoking, addition, and really promoting healthy nutrition and fitness.
    Licensed health care providers (MD, DO, NP, PA, RN, LPN, SW, psychology, counselors) would be paid better, doing less paper work, and be more directly to provide effective relationship and life changing care to people

    Like

  9. I recall seeing a news story back in the late 80s/early 90s about how some of the best and brightest people from the EU were coming to the United States to open their own businesses. It was virtually impossible in countries like France with all the red tape and legal graft required. Apparently the Euro elite were tired of losing them to the United States and this is part of what catapulted the establishment of the EU.
    Now I’m not sure what the tax environment was like in Europe back before the EU, compared to now. I do know recently the business tax environment had been much more favorable in the EU than in the United States. Now if for 15-20 years we knew our taxes were hindering business development in the USA and rewarding their flight to kinder tax environments, the ruling parties should have obviously lowered business taxes. The fact that they didn’t is quite a tell. The uniparty wanted it to happen. They needed it to happen to secure generations of ill-gotten wealth.
    Sorry I’ve just recently put it all together in my head, thanks to this site.

    Like

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