President Trump Vs. Barack Obama: Who Gets Credit For The Booming Economy? | Velshi & Ruhle | MSNBC


>>>WHEN YOU HEAR HOW GREAT THE>>>WHEN YOU HEAR HOW GREAT THE ECONOMY’S DOING RIGHT NOW. ECONOMY’S DOING RIGHT NOW. LET’S JUST REMEMBER WHEN THIS LET’S JUST REMEMBER WHEN THIS RECOVERY STARTED. RECOVERY STARTED. WHEN YOU HEAR ABOUT THIS WHEN YOU HEAR ABOUT THIS ECONOMIC MIRACLE THAT’S BEEN ECONOMIC MIRACLE THAT’S BEEN GOING ON. GOING ON. ACTUALLY, THOSE JOB NUMBERS ARE ACTUALLY, THOSE JOB NUMBERS ARE THE SAME AS THEY WERE IN 2015. THE SAME AS THEY WERE IN 2015. IN 2016. IN 2016.>>I THINK HE’S STARTING TO TAKE>>I THINK HE’S STARTING TO TAKE SOME CREDIT. SOME CREDIT. HE WAS TRYING TO TAKE CREDIT FOR HE WAS TRYING TO TAKE CREDIT FOR THIS INCREDIBLE THING THAT’S THIS INCREDIBLE THING THAT’S HAPPENING TO OUR COUNTRY. HAPPENING TO OUR COUNTRY. AND YOU LOOK AT THOSE BAD AND YOU LOOK AT THOSE BAD NUMBERS THAT WERE THERE IN THE NUMBERS THAT WERE THERE IN THE LAST COUPLE OF YEARS. LAST COUPLE OF YEARS. IT WAS THIS WAY AND GOING IN THE IT WAS THIS WAY AND GOING IN THE WRONG DIRECTION. WRONG DIRECTION.>>IT WASN’T GOING IN THE WRONG>>IT WASN’T GOING IN THE WRONG DIRECTION. DIRECTION. IT WASN’T THIS WAY. IT WASN’T THIS WAY. IT WAS THIS WAY. IT WAS THIS WAY. YOU’RE RIGHT, PRESIDENT TRUMP, YOU’RE RIGHT, PRESIDENT TRUMP, IT WASN’T THIS WAY, BUT IT IT WASN’T THIS WAY, BUT IT WASN’T THE WRONG DIRECTION. WASN’T THE WRONG DIRECTION. YOU HEARD IT OVER AND OVER THIS YOU HEARD IT OVER AND OVER THIS WEEKEND. WEEKEND. PRESIDENT TRUMP AND FORMER PRESIDENT TRUMP AND FORMER PRESIDENT OBAMA ARGUING OVER WHO PRESIDENT OBAMA ARGUING OVER WHO SHOULD GET CREDIT FOR THE SHOULD GET CREDIT FOR THE ECONOMY. ECONOMY. A CRITICAL ISSUE FOR THE A CRITICAL ISSUE FOR THE MIDTERMS. MIDTERMS. SO LET’S LOOK AT THE NUMBERS. SO LET’S LOOK AT THE NUMBERS. IN THE 19 MONTHS SINCE PRESIDENT IN THE 19 MONTHS SINCE PRESIDENT TRUMP TOOK OVER, THE ECONOMY HAS TRUMP TOOK OVER, THE ECONOMY HAS ADDED ABOUT 3.5 MILLION JOBS. ADDED ABOUT 3.5 MILLION JOBS. IN THE LAST 19 MONTHS OF THE IN THE LAST 19 MONTHS OF THE OBAMA PRESIDENCY, THE ECONOMY OBAMA PRESIDENCY, THE ECONOMY ADDED NEARLY 4 MILLION JOBS. ADDED NEARLY 4 MILLION JOBS. ANOTHER WAY TO LOOK AT THAT ANOTHER WAY TO LOOK AT THAT WOULD BE TO COMPARE THE AVERAGE WOULD BE TO COMPARE THE AVERAGE JOB GAINS PER MONTH. JOB GAINS PER MONTH. IT SHOWS PRESIDENT OBAMA IT SHOWS PRESIDENT OBAMA AVERAGING ABOUT 208,000 JOBS AVERAGING ABOUT 208,000 JOBS ADDED SINCE JULY 2015 COMPARED ADDED SINCE JULY 2015 COMPARED TO AN AVERAGE OF 188,000 JOBS TO AN AVERAGE OF 188,000 JOBS UNDER PRESIDENT TRUMP. UNDER PRESIDENT TRUMP. THE PRESIDENT ALSO LIKES TO BRAG THE PRESIDENT ALSO LIKES TO BRAG THAT THE UNEMPLOYMENT RATE IS THAT THE UNEMPLOYMENT RATE IS NEAR ITS LOWEST POINT IN NEAR ITS LOWEST POINT IN DECADES. DECADES. HE’S RIGHT. HE’S RIGHT. PLEASE LOOK AT THIS CHART. PLEASE LOOK AT THIS CHART. THE JOBLESS RATE HAS BEEN THE JOBLESS RATE HAS BEEN DROPPING STEADILY FOR MORE THAN DROPPING STEADILY FOR MORE THAN NINE YEARS. NINE YEARS. THAT’S OBAMA TERRITORY. THAT’S OBAMA TERRITORY. THAT SAID, THERE HAVE BEEN BIG THAT SAID, THERE HAVE BEEN BIG MILESTONES ON TRUMP’S WATCH. MILESTONES ON TRUMP’S WATCH. THE MARKETS ARE NEAR RECORD THE MARKETS ARE NEAR RECORD HIGHS. HIGHS. WAGES ARE STARTING TO RISE. WAGES ARE STARTING TO RISE. AND FOR THE FIRST TIME IN AT AND FOR THE FIRST TIME IN AT LEAST A GENERATION, THERE ARE LEAST A GENERATION, THERE ARE MORE OPEN JOBS THAN JOB MORE OPEN JOBS THAN JOB SEEKERINGS. SEEKERINGS. BUT HOW MUCH OF THAT IS BECAUSE BUT HOW MUCH OF THAT IS BECAUSE OF THE PRESIDENT’S POLICIES? OF THE PRESIDENT’S POLICIES? THE CENTER FOR ECONOMIC POLICY THE CENTER FOR ECONOMIC POLICY RESEARCH DID A STEADUDY IN JULY RESEARCH DID A STEADUDY IN JULY FOUND WHEN COMPARING SIMILAR FOUND WHEN COMPARING SIMILAR ECONOMIC MODELS, AN ECONOMY ECONOMIC MODELS, AN ECONOMY WITHOUT TRUMP DOES ABOUT THE WITHOUT TRUMP DOES ABOUT THE SAME AS AN ECONOMY WITH TRUMP. SAME AS AN ECONOMY WITH TRUMP. IN OTHER WORDS THERE IS NO TRUMP IN OTHER WORDS THERE IS NO TRUMP EFFECT. EFFECT. I WANT TO BRING IN AUSTIN GOALS I WANT TO BRING IN AUSTIN GOALS BUY, FORMER CHAIRMAN OF THE BUY, FORMER CHAIRMAN OF THE COUNCIL OF ECONOMIC ADVISERS COUNCIL OF ECONOMIC ADVISERS UNDER PRESIDENT OBAMA. UNDER PRESIDENT OBAMA. HE’S CURRENTLY THE PRODUCER AT HE’S CURRENTLY THE PRODUCER AT THE UNIVERSITY OF CHICAGO BOOTH THE UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS. SCHOOL OF BUSINESS. HE SAID PRESIDENT TRUMP DID NOT HE SAID PRESIDENT TRUMP DID NOT DO MUCH TO HELP THE ECONOMY. DO MUCH TO HELP THE ECONOMY. WHAT’S YOUR TAKE? WHAT’S YOUR TAKE?>>THAT’S ABOUT RIGHT.>>THAT’S ABOUT RIGHT. WE’VE HAD ABOUT 115 MONTHS OF WE’VE HAD ABOUT 115 MONTHS OF PRIVATE SECTOR JOB GROWTH, AND PRIVATE SECTOR JOB GROWTH, AND 19 OF THOSE WERE UNDER TRUMP, SO 19 OF THOSE WERE UNDER TRUMP, SO WHAT IS THAT, LIKE 15%? WHAT IS THAT, LIKE 15%? I DON’T SEE HOW YOU COME INTO I DON’T SEE HOW YOU COME INTO THE GAME WITH 10 MINUTES LEFT IN THE GAME WITH 10 MINUTES LEFT IN THE FOURTH QUARTER. THE FOURTH QUARTER. YOUR TEAM IS ALREADY AHEAD AND YOUR TEAM IS ALREADY AHEAD AND YOU’RE, LIKE, I WON THIS GAME. YOU’RE, LIKE, I WON THIS GAME. YES, IT HASN’T GOTTEN WORSE. YES, IT HASN’T GOTTEN WORSE. JOB GROWTH’S A LITTLE BIT JOB GROWTH’S A LITTLE BIT SLOWER. SLOWER. BUT THE ECONOMY’S GOING OKAY. BUT THE ECONOMY’S GOING OKAY. I THINK THE SHAME IS ON US FOR I THINK THE SHAME IS ON US FOR LETTING PRESIDENT TRUMP TRUMPET LETTING PRESIDENT TRUMP TRUMPET ONLY THE NEWS ON THE DAYS IT’S ONLY THE NEWS ON THE DAYS IT’S GOOD AND THEN CHANGE THE SUBJECT GOOD AND THEN CHANGE THE SUBJECT IF THE NUMBERS COME IN NOT AS IF THE NUMBERS COME IN NOT AS GOOD. GOOD. SO WE HAD ONE GOOD QUARTER OF SO WE HAD ONE GOOD QUARTER OF GDP. GDP. LAST QUARTER, ALL OF LAST YEAR, LAST QUARTER, ALL OF LAST YEAR, IT WAS MEDIOCRE. IT WAS MEDIOCRE.>>IF THE ECONOMY WAS SO GOOD,>>IF THE ECONOMY WAS SO GOOD, IF THE JOBS PICTURE WAS SO ROSY IF THE JOBS PICTURE WAS SO ROSY UNDER PRESIDENT OBAMA, WHERE DO UNDER PRESIDENT OBAMA, WHERE DO ALL THOSE FORGOTTEN AMERICANS ALL THOSE FORGOTTEN AMERICANS COME FROM THAT ROSE UP AND SAID COME FROM THAT ROSE UP AND SAID I WANT SOMETHING DIFFERENT WHO I WANT SOMETHING DIFFERENT WHO VOTED FOR TRUMP? VOTED FOR TRUMP?>>WELL, THAT’S — THERE’S AN>>WELL, THAT’S — THERE’S AN IMPLICIT THEORY IN THAT IMPLICIT THEORY IN THAT STATEMENT AND YOUR THEORY WAS IT STATEMENT AND YOUR THEORY WAS IT WAS ABOUT ECONOMICS, WHY DONALD WAS ABOUT ECONOMICS, WHY DONALD TRUMP WON. TRUMP WON. I DON’T SUBSCRIBE TO THAT I DON’T SUBSCRIBE TO THAT THEORY. THEORY. I THINK IT WAS A LOT MORE I THINK IT WAS A LOT MORE COMPLICATED. COMPLICATED. THERE WAS A LOT OF RACIAL THERE WAS A LOT OF RACIAL RESENTMENT. RESENTMENT. THERE WERE ISSUES ABOUT THERE WERE ISSUES ABOUT IMMIGRATION. IMMIGRATION. AND THINGS LIKE THAT WERE MORE AND THINGS LIKE THAT WERE MORE IMPORTANT THAN THE JOBS WERE. IMPORTANT THAN THE JOBS WERE. BUT, I MEAN, JUST LOOK AT THE BUT, I MEAN, JUST LOOK AT THE NUMBERS. NUMBERS. AS YOU JUST SHOWED, THE JOB AS YOU JUST SHOWED, THE JOB CREATION WAS ACTUALLY STRONGER CREATION WAS ACTUALLY STRONGER UNDER PRESIDENT OBAMA. UNDER PRESIDENT OBAMA. AT BEST, YOU WOULD SAY IT’S BEEN AT BEST, YOU WOULD SAY IT’S BEEN A CONTINUATION OF A STEADY TREND A CONTINUATION OF A STEADY TREND AFTER WE AVOIDED A DEPRESSION. AFTER WE AVOIDED A DEPRESSION. WE’VE BEEN CHUGGING A LONG AND WE’VE BEEN CHUGGING A LONG AND WE’RE NOW ONE OF THE LONGEST WE’RE NOW ONE OF THE LONGEST BOOMS IN U.S. ECONOMIC HISTORY. BOOMS IN U.S. ECONOMIC HISTORY.>>LET’S TALK ABOUT BUSINESS>>LET’S TALK ABOUT BUSINESS CONFIDENCE. CONFIDENCE. JEFF COX OF CNBC WROTE THIS. JEFF COX OF CNBC WROTE THIS. BUSINESS CONFIDENCE IS SOARING, BUSINESS CONFIDENCE IS SOARING, IN PART THANKS TO A SOFTER IN PART THANKS TO A SOFTER REGULATORY ENVIRONMENT. REGULATORY ENVIRONMENT. CONSUMER SENTIMENT BY ONE CONSUMER SENTIMENT BY ONE MEASURE IS AT ITS HIGHEST LEVEL MEASURE IS AT ITS HIGHEST LEVEL IN 18 YEARS. IN 18 YEARS. CORPORATE PROFITS, OWED IN GOOD CORPORATE PROFITS, OWED IN GOOD PARTS TO LAST YEAR’S TAX CUTS, PARTS TO LAST YEAR’S TAX CUTS, IS GETTING CLOSE TO SETTING IS GETTING CLOSE TO SETTING RECORDS. RECORDS. EACH OF THOSE ACCOMPLISHMENTS EACH OF THOSE ACCOMPLISHMENTS CAN BE TIED EITHER DIRECTLY TO CAN BE TIED EITHER DIRECTLY TO NEW POLICIES OR AT LEAST NEW POLICIES OR AT LEAST INDIRECTLY THROUGH A BRIMMING INDIRECTLY THROUGH A BRIMMING SENSE OF HOPE FROM BUSINESSES SENSE OF HOPE FROM BUSINESSES THAT THE WHITE HOUSE IS BACK ON THAT THE WHITE HOUSE IS BACK ON THEIR SIDE. THEIR SIDE. NOW, I SPEAK TO CEOs ALL THE NOW, I SPEAK TO CEOs ALL THE TIME. TIME. WHETHER THEY LIKE TRUMP OR NOT, WHETHER THEY LIKE TRUMP OR NOT, THEY WILL SAY IT IS A MORE THEY WILL SAY IT IS A MORE BUSINESS FRIENDLY ADMINISTRATION BUSINESS FRIENDLY ADMINISTRATION WHEN PRESIDENT OBAMA WAS IN WHEN PRESIDENT OBAMA WAS IN OFFICE. OFFICE. THE THREAT, THE REGULATORY THE THREAT, THE REGULATORY OVERHANG. OVERHANG. NOT KNOWING WHAT REGULATION WAS NOT KNOWING WHAT REGULATION WAS GOING TO COME DOWN THE PIKE GOING TO COME DOWN THE PIKE PREVENTED THEM FROM REINVESTING PREVENTED THEM FROM REINVESTING AND HIRING. AND HIRING.>>WELL, STEPHANIE, I GUESS MY>>WELL, STEPHANIE, I GUESS MY QUESTION IS, WHY, THEN, WAS JOB QUESTION IS, WHY, THEN, WAS JOB CREATION FASTER UNDER PRESIDENT CREATION FASTER UNDER PRESIDENT OBAMA. OBAMA. IF THIS REGULATORY CLOUD WAS SO IF THIS REGULATORY CLOUD WAS SO DETRIMENTAL, WHY WAS GDP GROWTH DETRIMENTAL, WHY WAS GDP GROWTH IN 2017 ONLY 2.2%. IN 2017 ONLY 2.2%. I HAVE NO DOUBT THAT I HAVE NO DOUBT THAT CORPORATIONS GOT A $2 TRILLION CORPORATIONS GOT A $2 TRILLION TAX CUT. TAX CUT. THEY’RE HAPPY ABOUT THAT. THEY’RE HAPPY ABOUT THAT. YOU SEE IN THEIR CORPORATE YOU SEE IN THEIR CORPORATE PROFITS. PROFITS. THEY’VE NEVER HAD HIGHER THEY’VE NEVER HAD HIGHER CORPORATE PROFITS THAN THEY DO CORPORATE PROFITS THAN THEY DO NOW. NOW. THAT HASN’T TRANSLATED INTO THAT HASN’T TRANSLATED INTO FASTER JOB GROWTH. FASTER JOB GROWTH. THAT HASN’T TRANSLATED INTO THAT HASN’T TRANSLATED INTO FASTER WAGE GROWTH. FASTER WAGE GROWTH. AND SO I’M GLAD THAT THEY FEEL AND SO I’M GLAD THAT THEY FEEL GOOD ABOUT THEMSELVES. GOOD ABOUT THEMSELVES. BUT, LIKE MANY THINGS, LIKE THE BUT, LIKE MANY THINGS, LIKE THE UNEMPLOYMENT RATE. UNEMPLOYMENT RATE. THE UNEMPLOYMENT RATE IS GETTING THE UNEMPLOYMENT RATE IS GETTING DOWN TO CLOSE TO RECORD LEVELS. DOWN TO CLOSE TO RECORD LEVELS. IT STARTED GETTING BETTER MANY IT STARTED GETTING BETTER MANY YEARS AGO. YEARS AGO. AND IT’S CONTINUED AT AROUND THE AND IT’S CONTINUED AT AROUND THE SAME RATE. SAME RATE. AND NOW WE’RE AT A LEVEL THAT’S AND NOW WE’RE AT A LEVEL THAT’S VERY LOW. VERY LOW. OKAY. OKAY. BUSINESS CONFIDENCE. BUSINESS CONFIDENCE. BUSINESS CONFIDENCE IN JANUARY BUSINESS CONFIDENCE IN JANUARY OF 2009 IN THE MIDST OF THE OF 2009 IN THE MIDST OF THE FINANCIAL CRISIS WAS RATHER LOW. FINANCIAL CRISIS WAS RATHER LOW. SO WE HAD A PRETTY SUBSTANTIAL SO WE HAD A PRETTY SUBSTANTIAL IMPROVEMENT OF BUSINESS IMPROVEMENT OF BUSINESS CONFIDENCE AND IT’S CONTINUED TO CONFIDENCE AND IT’S CONTINUED TO GET BETTER. GET BETTER.>>YOU MAKE EXCELLENT POINTS.>>YOU MAKE EXCELLENT POINTS. CONGRESSMAN, TAKE ME TO THE BLUE CONGRESSMAN, TAKE ME TO THE BLUE COLLAR WORKER. COLLAR WORKER. YOU’RE A FORMER ELECTRICIAN YOU’RE A FORMER ELECTRICIAN YOURSELF, PART OF A UNION. YOURSELF, PART OF A UNION. I UNDERSTAND WHY BIG BUSINESS IS I UNDERSTAND WHY BIG BUSINESS IS SUPER ON THE PRESIDENT. SUPER ON THE PRESIDENT. THOSE TAX CUTS WERE OUT OF THIS THOSE TAX CUTS WERE OUT OF THIS WORLD. WORLD. BUT THE ARGUMENT HAS BEEN IT’S BUT THE ARGUMENT HAS BEEN IT’S GOING TO TRIMLE DOWN TO WORKERS. GOING TO TRIMLE DOWN TO WORKERS. WE’RE NOT SEEING THAT YET IN THE WE’RE NOT SEEING THAT YET IN THE NUMBERS. NUMBERS. TELL ME WHAT YOUR VOTERS ARE TELL ME WHAT YOUR VOTERS ARE TELLING YOU. TELLING YOU.>>WELL, THIS IS THE WORLD>>WELL, THIS IS THE WORLD ACCORDING TO TRUMP. ACCORDING TO TRUMP.>>AND GUESS WHAT, HE’S A GREAT>>AND GUESS WHAT, HE’S A GREAT SALESMAN. SALESMAN.>>ABSOLUTELY.>>ABSOLUTELY. THE TRUMP IS GOING 60 MILES PER THE TRUMP IS GOING 60 MILES PER HOUR WHEN HE TOOK OVER. HOUR WHEN HE TOOK OVER. HE JUMPED IN THE DRIVER’S SEAT HE JUMPED IN THE DRIVER’S SEAT AND STILL GOING 60. AND STILL GOING 60. HE HASN’T CRASHED IT YET BUT HE HASN’T CRASHED IT YET BUT WE’LL WAIT TO SEE WHAT HAPPENS. WE’LL WAIT TO SEE WHAT HAPPENS. I WAS JUST ON THE JOB LAST WEEK I WAS JUST ON THE JOB LAST WEEK TALKING TO MEN AND WOMEN. TALKING TO MEN AND WOMEN. THEY’RE STILL WAITING FOR THAT THEY’RE STILL WAITING FOR THAT GREAT TAX EFFECT TO HIT THEM. GREAT TAX EFFECT TO HIT THEM. IT HASN’T. IT HASN’T. YOU KNOW, SAYING THE JOB IS THE YOU KNOW, SAYING THE JOB IS THE MOST IMPORTANT THING IS ONLY MOST IMPORTANT THING IS ONLY HALF THE STORY. HALF THE STORY. A JOB THAT ACTUALLY PAYS ENOUGH A JOB THAT ACTUALLY PAYS ENOUGH MONEY FOR YOU TO TAKE CARE OF MONEY FOR YOU TO TAKE CARE OF THE FAMILY IS THE TRUE STORY. THE FAMILY IS THE TRUE STORY. SO PEOPLE HAVE JOB, BUT IT SO PEOPLE HAVE JOB, BUT IT WASN’T WHAT THEY ENJOYED. WASN’T WHAT THEY ENJOYED. EVEN A DECADE AGO. EVEN A DECADE AGO. YOU KNOW. YOU KNOW. IF THEY LOST THEIR JOB IN THE IF THEY LOST THEIR JOB IN THE AUTOMOBILE PLANT MAKING 30 BUCKS AUTOMOBILE PLANT MAKING 30 BUCKS AN OUR, THEY’RE REEMPLOYED TODAY AN OUR, THEY’RE REEMPLOYED TODAY MAKING A FRACTION OF THAT. MAKING A FRACTION OF THAT. THE BIGGEST ISSUE COMING ON IS THE BIGGEST ISSUE COMING ON IS CORPORATE AMERICA IN GENERAL HAS CORPORATE AMERICA IN GENERAL HAS MOVED THE RETIREMENT ISSUE OFF MOVED THE RETIREMENT ISSUE OFF THEIR PLATTER AND BACK ON TO THE THEIR PLATTER AND BACK ON TO THE NEXT GENERATION. NEXT GENERATION. WE HAVE A TRAIN COMING DOWN THE WE HAVE A TRAIN COMING DOWN THE ROAD THAT ARE GOING TO DEVASTATE ROAD THAT ARE GOING TO DEVASTATE OUR SENIORS. OUR SENIORS. STEADY LAST WEEK, 1 IN 5 HAVE STEADY LAST WEEK, 1 IN 5 HAVE LESS THAN $5,000 PUT AWAY FOR LESS THAN $5,000 PUT AWAY FOR THEIR RETIREMENT. THEIR RETIREMENT. $5,000. $5,000.>>BUT WE’RE LEARNING IN A WORLD>>BUT WE’RE LEARNING IN A WORLD OF SHORT TERMISM. OF SHORT TERMISM. WHERE PEOPLE AREN’T VOTING WHERE PEOPLE AREN’T VOTING ACCORDING TO THAT. ACCORDING TO THAT. THEY’RE NOT SAYING WE HAVE A THEY’RE NOT SAYING WE HAVE A LONG-TERM PROBLEM. LONG-TERM PROBLEM. BRETT, YOU HAVE ALL THESE PEOPLE BRETT, YOU HAVE ALL THESE PEOPLE WHO HAVE VOTED FOR THE PRESIDENT WHO HAVE VOTED FOR THE PRESIDENT WHO BUY INTO HIS — I’M JUST WHO BUY INTO HIS — I’M JUST GOING TO CALL IT EXTRAORDINARILY GOING TO CALL IT EXTRAORDINARILY SHOWMANSHIP AND SALESMANSHIP. SHOWMANSHIP AND SALESMANSHIP. HE’S NOT ACTUALLY DELIVERING THE HE’S NOT ACTUALLY DELIVERING THE NUMBERS. NUMBERS. WHEN ARE THEY GOING TO START TO WHEN ARE THEY GOING TO START TO WAKE UP AND SAY OH, MY GOD, WAKE UP AND SAY OH, MY GOD, THESE TAX CUTS ONLY HELPED THESE TAX CUTS ONLY HELPED CORPORATE AMERICA, THEY’RE NEVER CORPORATE AMERICA, THEY’RE NEVER GOING TO GET TO ME? GOING TO GET TO ME?>>I’M NOT SURE I AGREE WITH THE>>I’M NOT SURE I AGREE WITH THE PREMISE OF YOUR QUESTION. PREMISE OF YOUR QUESTION. WAGE GROWTH HAS BEEN SLOW BUT WAGE GROWTH HAS BEEN SLOW BUT IT’S STARTING TO PICK UP. IT’S STARTING TO PICK UP. BUSINESS INVESTMENT IS STRONGER BUSINESS INVESTMENT IS STRONGER THAN IT’S BEEN IN A LONG TIME. THAN IT’S BEEN IN A LONG TIME. SOMETHING THAT AUSTIN WAS SOMETHING THAT AUSTIN WAS SAYING, YES, IT’S TRUE THAT JOB SAYING, YES, IT’S TRUE THAT JOB GROWTH HAS BEEN SLOW, BECAUSE WE GROWTH HAS BEEN SLOW, BECAUSE WE ARE GETTING VERY CLOSE TO FULL ARE GETTING VERY CLOSE TO FULL EMPLOYMENT. EMPLOYMENT. IT’S EASIER TO BRING IT’S EASIER TO BRING UNEMPLOYMENT DOWN FROM ITS UNEMPLOYMENT DOWN FROM ITS HEIGHTS IN 2009, 9%, 10%, DOWN HEIGHTS IN 2009, 9%, 10%, DOWN TO 6% OR 7%, THEN IT IS ONCE TO 6% OR 7%, THEN IT IS ONCE YOU’RE REACHING FULL EMPLOYMENT. YOU’RE REACHING FULL EMPLOYMENT. I THINK DEMOCRATS HAVE A REAL I THINK DEMOCRATS HAVE A REAL PROBLEM HERE. PROBLEM HERE. THEY HAVE TO BE CAREFUL. THEY HAVE TO BE CAREFUL. I REMEMBER RIGHT AFTER THE I REMEMBER RIGHT AFTER THE ELECTION, VERY PROMINENT, ELECTION, VERY PROMINENT, DEMOCRAT-LEANING ECONOMISTS DEMOCRAT-LEANING ECONOMISTS SAYING THE STOCK MARKET IS GOING SAYING THE STOCK MARKET IS GOING TO TANK. TO TANK. WE’RE GOING TO GO INTO — THE WE’RE GOING TO GO INTO — THE WORLD ECONOMY IS GOING TO WORLD ECONOMY IS GOING TO COLLAPSE. COLLAPSE. NONE OF THAT HAPPENED. NONE OF THAT HAPPENED. OF COURSE TRUMP IS OVERSELLING OF COURSE TRUMP IS OVERSELLING THE ECONOMY. THE ECONOMY. OF COURSE HE’S TAKING CREDIT FOR OF COURSE HE’S TAKING CREDIT FOR THINGS HE’S NOT RESPONSIBLE FOR. THINGS HE’S NOT RESPONSIBLE FOR. BUT DEMOCRATS RUN THE RISK OF BUT DEMOCRATS RUN THE RISK OF BEING SOUR ABOUT AN ECONOMY BEING SOUR ABOUT AN ECONOMY THAT’S ACTUALLY DOING PRETTY THAT’S ACTUALLY DOING PRETTY WELL, ALL THINGS CONSIDERED. WELL, ALL THINGS CONSIDERED. AND IF WAGE GROWTH STARTS TO AND IF WAGE GROWTH STARTS TO GROW UP, THEN THAT’S GOING TO BE GROW UP, THEN THAT’S GOING TO BE A PROBLEM ON THE DEMOCRATIC SIDE A PROBLEM ON THE DEMOCRATIC SIDE WHEN REPUBLICANS SAY, HEY, YOU WHEN REPUBLICANS SAY, HEY, YOU GUYS WERE SAYING THAT WAGE GUYS WERE SAYING THAT WAGE GROWTH WAS NEVER GOING TO HAPPEN GROWTH WAS NEVER GOING TO HAPPEN AND NOW IT IS. AND NOW IT IS. IT REMINDS ME A LITTLE BIT OF IT REMINDS ME A LITTLE BIT OF THE WAY PEOPLE LIKE BOB DOLE AND THE WAY PEOPLE LIKE BOB DOLE AND JACK KEMP WERE TALKING ABOUT THE JACK KEMP WERE TALKING ABOUT THE ECONOMY IN THE 1990s WHEN BILL ECONOMY IN THE 1990s WHEN BILL CLINTON STEAM ROLLED TO AN CLINTON STEAM ROLLED TO AN ELECTION. ELECTION. I’M JUST CAUTIONING DEMOCRATS TO I’M JUST CAUTIONING DEMOCRATS TO BE CAREFUL ABOUT BEING THE BAD BE CAREFUL ABOUT BEING THE BAD NEWS NINIS ABOUT WHAT IS A NEWS NINIS ABOUT WHAT IS A ROBUST ECONOMY MOVING WELL PAST ROBUST ECONOMY MOVING WELL PAST WHAT SHOULD HAVE BEEN A SELL BY WHAT SHOULD HAVE BEEN A SELL BY DATE FOR A NEW RECESSION. DATE FOR A NEW RECESSION.>>THE ECONOMY’S GONE BUT IT’S>>THE ECONOMY’S GONE BUT IT’S LEAVING THE LITTLE GUY BEHIND LEAVING THE LITTLE GUY BEHIND AND THAT’S THE DIFFERENCE. AND THAT’S THE DIFFERENCE.>>AUSTIN, DO YOU WANT TO>>AUSTIN, DO YOU WANT TO COMMENT ON THAT? COMMENT ON THAT? BECAUSE AS MUCH AS WE SAY ISSUES BECAUSE AS MUCH AS WE SAY ISSUES LIKE REPRODUCTIVE RIGHTS AND LIKE REPRODUCTIVE RIGHTS AND IMMIGRATION MATTER TO VOTERS, IF IMMIGRATION MATTER TO VOTERS, IF VOTERS HAVE MONEY IN THEIR VOTERS HAVE MONEY IN THEIR POCKET, EVEN A LITTLE BIT MORE, POCKET, EVEN A LITTLE BIT MORE, AND THEY FEEL CONFIDENT, THAT’S AND THEY FEEL CONFIDENT, THAT’S HOW THEY VOTE. HOW THEY VOTE.>>YES AND NO.>>YES AND NO. LOOK, I THINK THAT THERE IS A LOOK, I THINK THAT THERE IS A DANGER. DANGER. I THOUGHT THAT WAS INSIGHTFUL. I THOUGHT THAT WAS INSIGHTFUL. THERE IS A DANGER IF THE THERE IS A DANGER IF THE DEMOCRATS ARE GOING TO SAY THE DEMOCRATS ARE GOING TO SAY THE ECONOMY IS NOT GOOD. ECONOMY IS NOT GOOD. I THINK THE ECONOMY’S GOING I THINK THE ECONOMY’S GOING PRETTY WELL. PRETTY WELL. MY ONLY POINT IS IT’S NOT THAT MY ONLY POINT IS IT’S NOT THAT MUCH BETTER THAN WHAT IT HAS MUCH BETTER THAN WHAT IT HAS BEEN. BEEN. AND I THINK THE DANGER FOR THE AND I THINK THE DANGER FOR THE REPUBLICANS, IF IT’S GOING TO BE REPUBLICANS, IF IT’S GOING TO BE ABOUT THE ECONOMY, IS THEY ABOUT THE ECONOMY, IS THEY PASSED A $2 TRILLION TAX CUT FOR PASSED A $2 TRILLION TAX CUT FOR BIG CORPORATIONS AND HIGH-INCOME BIG CORPORATIONS AND HIGH-INCOME PEOPLE. PEOPLE. IF YOU REMEMBER, THEY SOLD THAT IF YOU REMEMBER, THEY SOLD THAT BY SAYING THAT THE AVERAGE BY SAYING THAT THE AVERAGE WORKER WAS GOING TO GET A $4,000 WORKER WAS GOING TO GET A $4,000 RAISE. RAISE. THAT’S WHAT THEY SAID. THAT’S WHAT THEY SAID. SO PEOPLE ARE GOING AROUND SO PEOPLE ARE GOING AROUND SAYING #WHERE’S MY $4,000. SAYING #WHERE’S MY $4,000. SO WAGES MIGHT GO UP A LITTLE. SO WAGES MIGHT GO UP A LITTLE. I HOPE THEY DO. I HOPE THEY DO. BUT, YOU KNOW, IF THEY ECONOMY BUT, YOU KNOW, IF THEY ECONOMY IS MAINLY GOING TO DELIVER FOR IS MAINLY GOING TO DELIVER FOR BIG CORPORATIONS THAT ALREADY BIG CORPORATIONS THAT ALREADY HAD RECORD LEVELS OF PROFIT AND HAD RECORD LEVELS OF PROFIT AND FOR HIGH-INCOME PEOPLE, WHO FOR HIGH-INCOME PEOPLE, WHO ALREADY WERE DOING REALLY WELL, ALREADY WERE DOING REALLY WELL, I THINK THERE’S A DANGER FOR THE I THINK THERE’S A DANGER FOR THE REPUBLICAN PARTY TO KIND OF GET REPUBLICAN PARTY TO KIND OF GET THEMSELVES OUT ON AN ISLAND THAT THEMSELVES OUT ON AN ISLAND THAT EVERYBODY ELSE IS NOT ON. EVERYBODY ELSE IS NOT ON.>>REMEMBER, THERE’S A VERY BIG>>REMEMBER, THERE’S A VERY BIG DIFFERENCE BETWEEN WORKERS DIFFERENCE BETWEEN WORKERS GETTING A ONE-TIME BONUS AND A

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