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White House blames Republicans for shrinking economy while GOP blames 'anti-business' Obama and officials
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And not at the latest news about our economy and rather it is so Graham.
The US economy unexpectedly shrinking in the fourth quarter.
The big is dip in three years.
And instead of jumping into high gear to figure out what to do it to reverses economic bad news some top Democrats use their time to play the blame game.
They say it is -- The republicans' fault.
The economy shrunk the last three months of last year our economy shrunk this new report suggests that this economy still has not.
Really fully recovered from the financial crisis for years ago.
You owe the Democrats around saying this system desk looking contraction that there's never been in this country it's disheartening.
Although we have moved at least temporarily beyond flirtation with the fall to see.
Republican leaders say I've got sequester in my back pocket.
It's not a game.
The American economy.
You remember what this administration's growth forecasts -- For the next three to four years their growth forecasts were anywhere between three and four and a half percent we're not growing now have you ever heard a couple of poor -- spending himself -- prosperity.
It's just -- in the outset.
This that that this to watch this happening right in front of our honest there's more work to do and our economy is facing a major -- which -- to your point and that's.
Republicans in congress -- republic in the White House we'd be in a recession.
If they're Republican in the White House would never come out of a recession -- Republican in the White House severe -- -- -- -- Republican in the White House flawless going I'll be doing impeachment hearings by now.
Has minority leader Nancy Pelosi also blaming the Republicans in a statement she says.
Today's disappointing GDP report as a direct result of the economic uncertainty created by house Republican strategy of obstruction and manufactured crisis.
So what -- Republicans have to say about all the finger point for Republican congressman Alan west joins us good evening sir and -- really think about the finger pointing.
Well good evening thanks for having me on and the most important thing that you can understand is that.
Leaders -- responsibility and they start looking for solutions is not a blame game.
There's plenty of blame to go around Washington DC.
But I think when you look at who the Chief Executive Officer of the United States of America is that is the person that resides -- 16100 Pennsylvania.
And when we heard the news about this stimulus practice it was going to be spent back in 2009.
Some of these projects is is forced unemployment.
Is -- is GDP growth.
We have not met those and I think the thing that should happen right now.
I know that earlier today art Laffer was on with some of the shows are -- -- economic -- -- for Ronald Reagan at this point in time in the Reagan administration.
They at seven point 1% GDP growth.
So obviously they have the right type of fiscal policies tax regulatory policies and monetary policies to make sure that we turned -- economy around -- And I think those exact same principles won't work today.
You know it's their tuition really I think on the table here number one is what is what is wrong with the economy and you know -- the policies correct they're leaving us in the right person.
The other is immediate response by Washington some in Washington to the very grim -- -- that Americans woke up this morning to feel extreme pain -- economy shrunk in the last quarter.
And suddenly it if they know the first thing they hear our Washington.
But is woods the leader Pelosi had Jay Carney White House -- blaming the Republicans and even -- Saddam Marco Rubio was quick to release a statement later in the day he was -- in the -- right back on president -- But there's no sort of effort to sort of like you know let's -- into this let's solve this problem together instead -- -- really start to blame.
You're absolutely right and one -- -- we have to look at how do we get capital flowing.
Back in the United States economy so that we do have growth we have expansion of our small businesses we look at our corporate business tax rate which is the highest in the world.
We need to turn that around so that we create opportunities.
So that we can get people -- so we can -- produced and again.
But another thing we have to really be concerned about with this anemic almost retro grade.
GDP number you have -- federal government that is spending right now about 24 to 25%.
All of our gross domestic product -- that number is going to increase anywhere from thirty of the third of 1% over the next eight to ten years so once again.
We have to look at the spending that has been done up in Washington DC.
But here in January you see -- the payroll tax cut that was taken from four point 2% went back to six point 2%.
You have a lot of people that are -- -- that.
That missing revenue in their paychecks as well you have eight new taxes from the Affordable Care Act sort of -- -- all Americans.
I can't -- if finally if I weren't.
Member of congress sort of I would I would hope for the president of the white house Press Secretary or whatever.
I would hope that if I woke up and -- shrinking economy I think to myself.
You know what am I doing wrong I'm I'm a political leader I mean -- member of congress or whatever you know what is that doing wrong.
I I would hope that my first thought wouldn't be to fire off a statement.
Saying you know it's my political opponent and that really is -- -- what's wrong with Washington is that you know the from the first reaction bide by it -- by.
At least as far as I get -- by Jay Carney.
And also by a leader Pelosi and I even have the state by senator Marco Rubio.
Is to quickly jump shot released a statement criticizing the other side is not so -- know with self reflection on how to.
How to improve thanks.
Well as the circular firing squad I think that's what you're talking about and in that case nobody wins especially the American people don't win.
-- looking -- leaders that can sit down and analyze this situation to come what was solutions.
You know Einstein say that there -- clearly the definition of insanity.
Is to continue to do the exact same thing -- look for different results what really concerns me is how the Federal Reserve is going to try to step in -- stimulate the economy.
To do to right now about 85 billion dollars that they're printing to try to.
Buy up our own debt in our treasury.
Bonds so that they can stimulate the economy that -- that's not the way to do it you've got to get the right fiscal policy monetary policy to turn this economy around but.
I never gonna personally starts beating Jennifer look at -- what Jay -- said he blames Republicans for the automatics funding cuts but he neglects to include the fact that both Democrats and Republicans agree that -- eleven debt ceiling.
With that said motion more than 500 billion dollars in defense cuts and read whatever -- -- it's sort of the selective.
In the mind of everybody's -- this was he had this is the LA if if the defense cut if sit.
If the defense cuts.
Are contributing to this.
Or anything you've got to look at the fact who agreed to it was both parties.
You're absolutely right and also I think that.
Mr.
-- in these understand that the whole term of sequestered emanated out of the White House and so.
We have to start sitting down a -- in the direction that we're going it's not right.
What do we need to do -- far as the personal income tax rate so we can stimulate growth especially for those small.
Of this is -- subchapter S corporations what do we need to do is forest capital gains and dividend is fact that we saw an incredible sell off.
Back in December because people were concerned about the increase in the dividend tax rate.
We have to -- look at our regulatory policy already we have seen about 5000 several hundred pages of new regulations.
Emanating out of federal government that's going to affect.
Aviv the growth of this economy -- -- and of course we've got to get the right type of monetary policy also.
Well all the things that you suggested -- -- those of the correct solutions are those are really good ideas in our -- is one -- and that's it we have real leadership for people are willing to -- rise above the fight it actually sit down and talk -- see what works and what doesn't work but that's not what we have you know instead we have you know I had sex.
It ever what its -- point fingers -- in this town which is is so counterproductive but I don't think the last word and that kind of been nice to see is there.
Always a pleasure Greta thank you.
