growers, job creators. let s really support them. trickle down economics has never really worked. and the that is correct is that obama who will never get credit for taking double digit unemployment and bringing it to the single digits, nothing in that bill talks about increasing wages. that s the conversation many americans are having in their immediate households that our wages haven t increased the way we need them to. and this bill only helps the wealthy and corporations. corporations. but i think that might be is that the thinking here for republicans? look, the expectations in this poll, the majority say not going to lead to growth, not going to lead to jobs. but is that what republicans are really counting on? you know what? this is going to get the economy ginned up a bit and we ll benefit from that. and they will benefit from kind of messaging assuming they can hold the house when they lose so many seats from new jersey, connecticut, and california. they could lose tho
despite all of that, right, charlie? right. a couple things going on. i don t think it s an easy story to tell whether this is net-net good or bad. neil: we have two minutes. if you can conclude sum it up. some spending is good. people are in debt because they re buying stuff and working and borrowing to buy stuff. that s good. where this is bad when you look at the interest rate environment. when interest rates are this low for this long, there s an incentive to borrow more. so you go out on the risk spectrum and becoming morris i can in your borrowing for houses. that could be an issue, particularly if you throw on the top of it that wages haven t moved that much. so what you have is an accumulate of debt, wages haven t moved, you have every incentive to borrow. that s the bear case. there s a positive case. people are borrowing, spending, adds to the economy. generally they do that when they have jobs.
for the highest earners, that clearly helps the highest level, but people who day in and day out dead pepped on things like their retirement, like their 401(k), it s unclear where this plan is such a hook-up for the middle class. we know where it helps people out. if people in the middle class are not saving enough for retirement by the way, we re all living a little longer than we used to, this will become a problem for taxpayers and the government in the end. it s really important for all of us and the government that people take their retirement savings seriously and the government encourages it as much as they can. the sad thing is people might make the argument i d love to contribute more, i d love to save more but my wages haven t gone up. it s a complicated problem. that s a fact. another tight vote in congress this week. republican senators needed a tie-breaking vote from vice president mike pence to kill a rule set by the consumer financial protection bureau that all
tell me how you get from a. to b. that you put this tax cut out there. given that what you and i talked about, that stock markets are doing well, corporate profitability is good and money available to companies, what will the tax cut do that causes the economy to grow? right. well, the headline is that people who are watching your show right now i would guess most peel they re wages haven t been going up nearly as much as they should given how many profits are soaring. that int twhags we have is consistent in the analysis doing, seeing a disconnect between what happens to companies and what happens to workers. it s our belief that that disconnect occurred because the factories are all over in ireland and other countries that have much lower taxes than ours. one of the newsworthy items in the report put out today, ali, that conference on this morning, was that we looked back at capital deepening. the amount of wage increases people get over time, because there are more machines, more
display of hatred, bigotry, and violence on many sides. on many sides. many sides, many sides. that is the piece that got him into trouble with his own team, equating neo-nazis and the ku klux klan with the americans who were protesting hate, racism and bigotry. and that is the part of the story he didn t include last night. he slammed the media for not covering his statement properly, while we can only cover what the president actually says. not his best rendition of what he said. so, for fact s sake, we re going to call this one false. next, president trump on wages. last night he said, quote, wages haven t gone up in a long time. well, this chart right here on your screen shows otherwise. you see the rise of average hourly earnings of all private employees. mr. trump, according to your bureau of labor stay statistics, wages have been going up steadily since the recession,