chairman of the economic roundtable program director for the manhattan institute for men in marriage and the book they had a big influence on me the spirit ofth enterprise microcosm tele cause him and now your newest book life after google there is a lot to unravel the let s get started. capitalism versus socialism. capitalism derived from the cap latin word for head it is the mind and the keyan characteristics of the human mind is that we are created just and as the princeton
tax the rich guy behind the tree. steny hoyer stepped up yesterday. he did. he was amazing. he was great. he talked about entitlement programs, about getting to the point where you have to address the issue of entitlement programs and cutting entitlement programs. you re not serious about reducing the deficit and the debt unless you talk about that. and thomas friedman, new york times, also had a column this weekend saying we have got to stop stealing from the next generation. we have got to stop robbing nursery schools, for nursing homes. it s what we ve been doing. that s what we re going to continue to do. allen binder, i go back to the princeton economist, who say democrats are wrong on this. we cannot tax our way out of the entitlement crisis. well, i don t think that s what the president s saying. that s all he s talking about, mika. that s all he s talking about. let s tax the rich. that s going to make everything better. hey, is your back a little sore? you kn
that was a short-run goal. they get taxes on the rich, and they re follow-up is, well, we re not going to do more cuts until we get more taxes on the rich. i ll even go there. let s do what warren buffett is talking about doing and have a minimum 30% tax rate for millionaires and billionaires. they shouldn t get 15, 16, 17% in taxes. i agree with that. guess what happens after that? loopholes. it still does nothing in the long run. you still have to cut. we were talking about allen blender last week. allen, the princeton economist, said, sorry, democrats. tax increases aren t going to fix this problem. we have to get back to growth. john, the white house is going to have to come to terms with the fact that cuts are the only thing, as professor blender says, cuts are the only thing that are going to save us. in the long run, that is what he says. i think the white house has come to terms with the notion that they believe that they need to do both. the president is not saying he wo
gains for economy later. flooded homes, closed stores and employees absent from work are costing billions. i seen numbers, variety of people now reporting in the three to $5 billion insured loss range. reporter: but that is just insured losses. uninsured could be billions more. now the rebuilding begins. include reconstruction from the virginia earthquake and the economic boost could be significant. on sunday, investment firm cumberland advisors increased forecast for growth in the fourth quater from 1 to 2% annual rate to 2 to 3% annual rate. that could equate to $30 billion more more in the construction and more jobs, especially in construction, assuming rebuilding and federal refunding begins quickly. not how president obama wanted to create jobs but he is proceeding with a new jobs plan he will announce next week and named the princeton
acdepartmentic in is no change to usual, but and if you want no change to usual, that s fine but most want a change in the economy, they want change, change for the better, and maybe it will be an idea to say okay, we ve tried the academic approach, we ve tried a princeton economist from the fed, he s doing not so great, another princeton economist, do we really need that. jenna: remember the council jobs, and it s headed by jeff eult elt and there s a slew of people there, xerox, intel, it seems like the private sector has been invited into the white house but what you re saying, it doesn t seem like they ve joined the party. they haven t joined the party and certainly not in the council of economic advisers. jenna: you think that s where it needs to be. i think that would be a good place for it to be. you can have all the business people involved in the process inside washington, d.c., but if the people who have the if the president, his economic have ors, if that s what the