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Defensive over the deficit?

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    Goolsbee blames fiscal woes on GOP policies

  • Duration 3:43
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Thank you very much a former -- chief economic chief economist getting defensive president Obama's failure to get the deficit under control.

Look -- I don't dispute that the deficit has increased I think for the Republicans.

Who set in place the policies that led to the economic crisis that exploded the deficit.

-- now be saying well look why is the deficit so big it's a bit you know they let the back half of the house on fire now to complain the air conditioning doesn't work.

Lawyer who Paul Ryan said to that.

Let's find out with somebody -- says that the budget chief under President Bush begs to differ we're joined right now by now governor of Indiana Mitch Daniels governor welcome back to the -- -- answer Austan Goolsbee you he's in terms of driving -- deficit it was it was your policy drove up the deficit.

Well I understand why he's defensive you know doubling the deficit on this watch and a terrible economy which is the biggest problem at all.

Even bigger than overspending is the really anemic recovery we've got that's all on.

The policies of this administration now I mean they've tried this a long time that it's very lame you know that the deficit in 2007.

Was one point 2% of GDP one of the lowest post war.

So.

You're a lot went into getting us in the fix we are now but.

Really won't wash for them to keep.

Looking back back back trampling on someone else that is the charitable resolute us -- -- come back to your office of management budget and and people know what you've done as governor and and Democrats are praising you as well.

But they keep saying well you drove up the deficit but -- reality.

Did visit -- for reality to which you actually inherited correct -- sure there was a bubble breaking back then too and all the revenues people imagined was common.

Everyone thought was surplus jumped eight Perot wasn't in the attic -- -- would never happen and wasn't going to given the that again the economic recession that took place then that you know it's it's really not.

Worth arguing about at this point we're in a very bad place and the question is as it always is what do we do now on what this administration's doing with regard to.

Economic growth.

And and spending discipline is simply not gonna get the job so it he has been exercised in Indiana and Indiana has an interest in jobs report to report correct and growth.

Right.

We have we -- nation's leader last month and job growth and -- -- been grown about two times the national average over the last year.

-- budgets in balance of credits better than the federal governments which is a strange thing to say AAA and we -- a tax refund or citizens.

At the end of this fiscal years so.

We're in.

Relatively speaking very strong shape but we sure like everyone we need a better national economy you hate personal accolades -- don't like -- that's not what you do it but she did get something very significant -- last night to receive the Manhattan institute's Alexander Hamilton would.

Had that feel.

Well is great that's a great organization they had a lot the national understanding.

And I was very honored to be there archbishop Dolan was also honored and in the more him.

And one of the great scholars James Q Wilson in company like that you feel little.

You feel a little out of place but.

He had no that's what brought me to have much that I like you -- that -- I know that is is their next step the private sector or in other public sector job.

-- I think it's not that I've always thought that the public life public service of something and in our country a person to do if they could bit.

Not make a life so it's always been my expectation try to -- best shot I could and then go back and live as they say under the laws -- Had something to do with -- I've never seen -- get so comfortable on the -- governor you've got to come back whether it's back the private sector republics that like it congratulations.

On everything you've done.

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