first round of tax cuts that are seen as being more beneficial to rich people and corporations, are not all that popular. if they were, the president will be talking about the first round of tax cuts, not this mysterious, perhaps imaginary second round of tax cuts. in about 20 minutes i will talk with kevin hassette from the white house about that and other things and find out if there s meat on these new middle class tax cut bones. geoff, thank you for joining us, always appreciated. as we mentioned off the top, the president s rhetoric is looking very familiar to what we saw about two years ago. the washington post writes the approach in many ways seeks to re-create the 2016 playbook that lifted trump to the presidency in which culture flash points and controversies like the specter of mass illegal migration helped energize trump supporters. with me now is one of the great reporters on that piece, the washington post white house reporter ashley parker, who is also an msnbc anal
week. initially they weren t that big. somehow the talk seemed to be suggesting maybe this is it. and people were watching the mood. on monday, they decided, maybe this is it. and so it s that kind of thing. now more and more people are being drawn into this because of all the excitement. it s the question of what the next round of people paying attention are thinking. i don t know what the market is going to do for the rest of today or in the near future. also could be not surprising if it made an upswing. earlier today, kevin hassette of the white house said while he can t get inside the mind of the market, he did talk about fundamentals in our economy. let s listen to that. what set off the last couple of days clearly is the very strong economic data which shows that our analysis of the economic data is really correct. the data is so strong that clearly markets are starting to worry about fed policy.
top of that. all right. david, your last point, to an administration who has been selling these markets, hanging the hats on the market for the last year, are you still feeling bulled up this is just a correction, a regime change? i think i m going to agree, i think kevin is right, there s a lot of good fundamental stories out there. what i really think, stef, is what i said earlier, that people want to understand what this new fed is. they ve been babied by the federal reserve all the way since 2008. they ve been coddled and brought back from the near death experience. they ve got a new doctor. they don t really know the doctor that well. they want to understand the doctor better. i think this strong data is something that s confusing. because you just don t know how quickly these guys are going to try to raise rates or be a little bit different than feds in the past and that s where the market s getting confused. i think kevin said that. we re trying to figure out what the fed
which we judge this bill. it was president obama, his 2016 state of the union address, i ll never forget it, when he said look at the stock market, look at our recovery. anyone who says the economy has not improved is peddling lies. you know what that statement did, it fuelled that trump voter. the trump voter was born. the forgotten american said hold on a second, i don t live in new york, i don t live in san francisco, i don t own any stocks. so to watch the white house now. kevin hassette just said it to hugh hewitt, the irrational, the negative impact we will see to the stock market if this doesn t go through. the stock market is not a direct reflection on the economy and, by the way, you don t see wall street analysts when you have investor calls saying to those companies are you giving your workers any raises? no, they want to know when buybacks are happening, they want to know dividends. this is why i think there s a disconnect between the stats which are very good, right, g
long to a lot of what i would call the old but still very smart guard in the republican party and they kept saying he s got to do something to change the game. i mean he s getting defined by the obama people every day and he has to get on the offensive here. did it change the game? well, i do think it changed the game. you know, i think just from a very clinical point of view, it was the right move for him to make. it clarified a lot of things. a young guy who is very popular with his base. he comes from wisconsin. which is a state that might now be in play. it s always been safe for the democrats in the past. and there s a certain amount of clarity about what we re going to debate. can i just slayer with our share with our audience today. the op-ed page of the washington post, this is what the american people are in for. kevin hassette and glen hubbard, obama s faulty math. below that, budget roulette, the gop has explaining to do in this