harris: i can back to what you said, they don t necessarily need to work something out on this one. guy: if they can get 50 votes, though get it done and that s why mitch mcconnell is saying we fell short by one vote on health care, events can bank that we will be able to do it again, but i think that s a risk by schumer. frankly, he might be powerless. this is a reconciliation issue. less but it would make about deb is neutrality, it s really important when you look at the scores of these things, static scoring versus dynamic scoring, these are really in the weeds, sort of policy issues, but if you just do the math of deficits and that sort of thing without accounting for economic growth, that would result in civil vacation of the tax code, that score is worthless. john kelly has already reached him democrats.
whopping $3.4 trillion. how could the smart goldman sachs guys on trump s economic team, gary cohn, steve mnuchin, make such a big basic math error? actually, they did it intentionally. the administration assumed that because of its tax cuts the american economy would grow by 3% a year for the next decade. the cbo instead says the president s plan would increase gdp growth to 1.9%, which most economists agree is the sensible assumption. note that the american economy has grown on average just 1.8% over the last 15 years, no more. this method of fudging the numbers is called dynamic scoring. common sense would tell you that if the government cuts taxes it ll get less money in tax revenues. but sprinkle the magic pixie dust of dynamic scoring and you can project much higher growth rates and then the revenue
or if the capital gains tax were repeals that would help trump. what about all the millions of americans who might benefit? liz: i don t check the articles. i check the comments to the articles. there were interesting comments across the nation. they said we have been doing the same thing for 8 years. let s just try this. but when you have steven mnuchin the treasury secretary saying the growth spurred from this will pay for the tax plan, we have seen that movie before, even george herbert walker bush said that s voodoo economics. i can tell you so-called dynamic scoring. that is make an assumption that the new policy will incentivize behavior that will cause growth. there is no guarantee of that.
or if the capital gains tax were repeals that would help trump. what about all the millions of americans who might benefit? liz: i don t check the articles. i check the comments to the articles. there were interesting comments across the nation. they said we have been doing the same t let s just try this. but when you have steven mnuchin the treasury secretary saying the growth spurred from this will pay for the tax plan, we have seen that movie before, even george herbert walker bush said that s voodoo economics. i can tell you so-called dynamic scoring. that is make an assumption that the new policy will incentivize behavior that will cause growth. there is no guarantee of that. but i believe we want to attract
governments. what i m worried about is turbo dynamic scoring which seems to be what some people have in mind which is to assume away all of the problems that you would have and economic growth will solve all of the problems and that s, as jonathan said, has been unrealistic in the past. jonathan, john and i are sitting up here wondering if it s actually democrats who pay more about debt and deficits and republicans at this point because this is a president who just last year said on cnn i am the king of debt and he a month ago told the new york times magazine, we re going to prime the company to get this economy going, in other words, spend money to make a lot of money in the future. correct me if that s not keynesian liberalism? the facts are clear and if you look at every president since ronald reagan, the deficit has gone up with republicans and down with the democrats. bill clinton brought it under surplus. barack obama brought it back under control. the old notions of fiscal