this would be the case when you put in place this recovery program. any time you put more money into the economy, prices tend to rise. 1.9 trillion. the infrastructure bill and then the last mini build back better plan that they jammed down everyone s throats at the end seemingly saying well, at least we are cutting the deficit. i thought the greatest analogy is the president keeps saying looks at the jobs, right? look at the labor participation. doesn t want to say that well, i cut the deficit. they said if you go by the president s theory on cutting the deficit it would make harry truman the greatest deficit cutter ever because world war ii ended. pandemic he coulded of course you spent less. half the dessit just by doing that overall spending has gone through the roof. and, yeah, you could look at western europe and say they are having problems. when are we taking mostly slows socialistic bellwether. japan is lower, china is lower.
conceivably have, because he got rid of emergency spending he is deficit cutter and he would like to spend trillions and trillions more if he gets green new deal passed. will: off the wall fiction versus reality. pete: i think i know what this might be, doggone fun. 3 1/2-year-old sky terrier. my goodness, where are her eyes? pete: look who is here. janice dean with inside look at the rarest breeds. will: rarest breed. i can t wait. .
into law and how soon and so on and so forth. i do believe though that the president has so clearly laid down a marker in favor of this large expansion of the government and mind you president trump wasn t exactly a deficit cutter himself, that he will, you know, if indeed he runs for re-election, that will be one of the major sort of signature changes in his term that he will be held accountable for whether it, you know, works out or whether it doesn t. bret: economic changes unemployment rate 6.1%. pre-pandemic it was at 3.5%. you ve got the number of employed americans at 144 million. meaning the economy is still missing about 8.2 million jobs lost during the pandemic, jonah. it is recovering. it is starting to churn. yeah. look, i think that this is all in some ways an accident of
being a deficit hawk this guy has not been a deficit hawk. he s not he was the leader of the wing of ultrasupply siders. george w. bush was quite a supply sider. he was arguing that deficits don t matter. and paul ryan was to his right saying no, the tax cuts are too small, bush wanted to privatize social security in 2005. and paul ryan was the leader with this privatization plan, that added $1 trillion in debt, so much debt that the bush administration said this is irresponsible. he voted for the bush tax cuts. he voted for the wars, everything that exploded the deficit. how did he gain credibility as the deficit cutter? it s quite a con. it s hard to think of a word for what he s done other than a con. now there s always the case that when democrats have the white house, republicans start framing their ideology in terms of deficits. and stop framing their ideology in terms of deficits when they actually have power. and jared bernstein i have to turn to you. please for once
you know, when i listen to him and listened to chris van hollen last week on this show, i m beginning to realize what s perhaps more interesting than who s the better deficit cutter, because neither of them are, neither party really is, is what they see as the purpose of the federal government. people watching this shoes are looking for those differences. chris van hollen doesn t talk about cutting the deficit but what government can do to expand this country, socially, economically, what tools we have. it s rich with ideas on how you can encourage things you want to happen. what would you call ryan s plan? in a sense, it s more of a statement of what government can t do. how would you describe the message, the lyrics behind his budget? what s he saying about america and its government? ryan believes that what government fundamentally does, what the federal government does, at least at this point in history, is it stifles a basic individual creativity and the family and the communi