Detailed text transcripts for TV channel - FOXNEWS - 2017120

Detailed text transcripts for TV channel - FOXNEWS - 20171203:20:12:00

would raise your model, raising more than $1 trillion quite comfortably. what is the biggest difference between the assumptions in your model and assumptions in a joint tax committee? >> the joint committee uses a closed economy model assuming the united states the closed economy so anytime the government runs deficits that crowd out private borrowing, raises interest rates and adds to the borrowing costs and slows the economy. we have an open economy model assuming global capital markets won't be affected by a little bit of additional government borrowing which is why our models prove a lot more growth. paul: what about the argument of the deficit that it will increase the deficit by that amount, in the growth estimate which i understand the closed economy model, a crucial point you make but what about the growth impact of cutting the corporate rate like the bill

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