Okay, so thats less money for a government already deep in the red, one would assume it makes the deficit worse, right . Wrong. Romney says hell pay for that tax cut in two ways, one, hell limit the tax breaks. Hell spur Economic Growth because people can use that money that theyll save this taxes. Its not entirely clear how much Economic Growth that will produce. What is clear is that the measly 1. 3 of Economic Growth that they achieved in the Second Quarter this year isnt enough to make up for the romney shortfall, and with the u. S. Economy forecasted to grow by about 3 in 2013 and 2014, romneys plan, as attractive as it sounds, is in doubt. Kevin hasseth is an economic adviser. Kevin, romneys plan seems to assume that the simple act of lowering taxes will generate enough growth to raise the revenue to pay for the steep cost of those cuts. A lot of economists disagree with that notion, the classic chicken and egg scenario. I spoke with secretary larry m sumners a few weeks ago and
All of this is complicated things mightily. Doesnt chad pergram know it with the fallout from capitol hill. Hi, chad. How are you . So in the past hour or so, the house ways and Means Committee has taken the first formal step. They have approved the bill out of committee, 2416. A party line vote, which was expected. This now goes to the full house of representatives. Probably to the rules committee next week. The rules committee is the gate way to the house floor. You could have changes there. Those changes could be to Court Members that are not on board yet. They havent worked out the state and local tax deductions. I was talking to a Senior Source who said they need to make sure the California Republicans are on board. That i can only lose 22 members in the house of representatives. Theyll vote next week. You talked about roy moore. You had Mitch Mcconnell, the Senate Majority leader, corey gardner, the chairman of the senatorial committee, republican senator from colorado. They say
have all the cards. our leaders have being laughed at in china. i do business with the chinese. they re wonderful people and all of that. but they re very smart. they think our leaders are very stupid. of course, they re right. neil: those are the days when her talked to me. all right. we have steve lieb here. he does have a point on this. he has a consistent point. what do you think? it s true, neil. if i can paraphrase what president trump said. he said that they think we re stupid and they re very smart. this is not something that happened under the current president s watch. this has been going on for 50 or 60 years. neil: i don t know where the alert was in that. a lot of people are switching around to other news organizations saying you don t this or do don t that.
red, one would assume it makes the deficit worse, right? wrong. romney says he ll pay for that tax cut in two ways, one, he ll limit the tax breaks. he ll spur economic growth because people can use that money that they ll save this taxes. it s not entirely clear how much economic growth that will produce. what is clear is that the measly 1.3% of economic growth that they achieved in the second quarter this year isn t enough to make up for the romney shortfall, and with the u.s. economy forecasted to grow by about 3% in 2013 and 2014, romney s plan, as attractive as it sounds, is in doubt. kevin hasseth is an economic adviser. kevin, romney s plan seems to assume that the simple act of lowering taxes will generate enough growth to raise the revenue to pay for the steep cost of those cuts. a lot of economists disagree with that notion, the classic chicken and egg scenario. i spoke with secretary larry m sumners a few weeks ago and he can t get it to work, either. the reality