Hillary clintons run for the white house. And americas economy. That is our cover story thisis week. If you look at how the american economys doing compared to most other big economies in the world, including a lot of the developing economies, like the brits, the people we thought would lift up up into the 21st century, were doing quite well. We have more than regained the jobs that we lost in the recession. There was a big crash, and usually those take a decade to get over. So we got jobs back more quickly. Back to one of the shortterm things you mentioned. The Federal Reserve. They just decided no the to raise Interest Rates, and in doing so cited factors that arent in their dual mandate. Talked about china, talked about the stronr dollar. Were they right to look at all of these additional conditions and right in their choice not to raise Interest Rates . I think so. I think that in a world where america looks like aood news story compared to the current problems in china and t slow
Theres a whole bunch of issues where people on one side the institutional is to go with the smaller zero affect. I think had a we will see with dine aprilic scoreynamic scoring is somewhat similar. I thought dons initial answer to the question was very good and very comprehensive. I agree with it but i think at the end of your first comment not the one you just made you gave a pretty compelling reason why we shouldnt accept models that close the fiscal model because they de facto assume legislation. Legislation that either that either raises, cuts transfers raises taxes. Im saying when youre in that situation where you have to close the fiscal model in order to get it to converge you have to make sujsassumptions about how debt doesnt explode to gdp. But does that apply in the ten year window . If you make that assumption does it apply in the ten year window. It can. It can apply in the ten year window but because the Decision Makers in the model have perfect foresight they can observe
Political balance, i dont see is fundamentally changed. I mean i think back to tarp. That was my next question. And some internal conversations about a, how much money do we need . B, how much money do you think we can get away asking for . You know, 500 billion. Well, maybe maybe not. But if youre asking for 500, you mine as well ask for 700, just dont ask for 1 trillion. The people who thought that tarp was terrible policy or were shocked wiby the price tag, i think would have been efvery shocked at 500 billion as they were with the bill that actually went up. Well, i think that im not sure that you would really get the help that you would need. I am a huge advocate if you know my work, im a huge advocate of temporary fiscal intervention in a spirit of the times that we faced in the heart of the great depression. I think the global results of austerity which is contraction of that is exhibit a what good fiscal policy looks like and what bad fiscal policy look like including implicati
That more than economics. If you ruffled the feathers is someone powerful, that gets you the running and to complain to the publisher of the stories about those things happening. We were fortunate through the 70s and almost all our careers to work for people who are strong and upright in that area and just let the chips fall where they may, where the work way you. Coming up, booktv presents after words, an hourlong program where we invite guest host of interview authors. This economical journalist, john jenkins and his book, the partisan the life of William Rehnquist. And i. , the publisher of cq press details the early career and a 33 year Supreme Court tenure at the former chief justice. He talks the Supreme Court reporter and a biographer for Justice Oconnor and scalia, Joan Biskupic you. Welcome, john jenkins. Were here to talk about your new book, the partisan the life of William Rehnquist. Im going to start with one general question, just to give our viewers a sense of who the ch
The bible teaches us behold how good and how pleasant it is for brethrens to well together in unity because the house divided will not stand. May your servants in this body not look to parties, personalities, preference or press, but may they focus on principles and people. Let no personal ambition blind them to their responsibilities and accountability. God, we call our representatives politicians, but you call them ministers. May all the members of this body make full proof of their ministry. Ask for your guidance and blessings on their decisions and grace on their families. I pray the members of this body will psyche thy will in ways and have the spiritual courage and grace to follow it. Lift them above the claims of politics onto the dimension of a higher calling and mission. We pray this prayer respect in all prayers, all faiths, but we prayer this prayer pray this prayer in the name of our lord and savior, jesus christ, and until you come, we pray, amen. The speaker the chair has