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tv   Key Capitol Hill Hearings  CSPAN  September 15, 2016 3:00pm-5:01pm EDT

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levels since before lehman failed and the u.s. economy reached 5% about four years ahead of when economists and some republican candidates for president predicted just next slide. we just learned earlier this week that the united states had the strongest wage growth on record in 2015. the typical household income was up $2,800 or 5.2%. in fact, in 2015, we saw wages grow fastest for low and middle-income families. we saw poverty decline fastest for african-americans and hispanic americans whose poverty rates had been elevated relative to other groups of americans. so we've shown that with wall street reform we can create an economy that works better as a whole and works better for individual americans. next slide. 2015 also saw the fastest decline in poverty rates since
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1968 with 3.5 million americans and one million kids being lifted out of poverty. so the assertion that we're building a safer, stronger financial system -- so the assertion that building a safer, stronger financial system is inconsistent with healthy sustainible growth that benefits working families and the middle class has shown to be false. in 2009, credible sources estimated that the direct cost of our financial crisis response to taxpayers would be nearly $2 trillion. every day we saw headlines about a $182 bailout of a.i.g. or $700 billion price tag on the tarp program. yet, what wasn't focused on was that those were loans or investments that were paid back over time with interest to the taxpayers. the u.s. government got all of the taxpayer money back we put into the financial system, and then some.
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so these investments generated a positive return for taxpayers across all of our financial crisis programs. we were told that deficits would skyrocket, but under president obama's leadership they've come back down by nearly three quarters from around 10% of g.d.p. to 3%. even the consumer financial protection bureau that's been such a strong watchdog to protect consumers from harmful practices is under assault by republicans despite having returned nearly $12 billion through enforcement actions to more than 25 million consumers who had' been harm. i -- who had been harm. the other day speaker ryan sent a tweet about the cfpb. by announcing dollar 185 million fine against a bank for setting up two million credit card and bank accounts the customers didn't ask for. this is just another example shown by the broader economic
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trends of republicans not letting facts get in the way of their attacks on policies like wall street reform that actually help build a stronger economy here in the united that and better support middle class and working families that president obama is determined to fight for. o after that long introon this intro on this anniversary day we'll go to questions. darlene, do you want to start? darlene: yeah. i want to ask about the u.n. envoy said there was a problem inaudible] the convoy to start rolling in. is the u.s. doing anything to try to help get it going? given that syria has not yet granted these permits, does the hite house think [inaudible]
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josh: well, darlene, you have identified something that the united states continues to be deeply concerned about. i mentioned yesterday that despite the progress that we'd seen with regard to the security situation on the ground in syria, we haven't seen the corresponding improvement in the flow of humanitarian assistance. and the chief obstacle to that has been the assad regime. caint speak to the bureaucratic -- i can't speak to the bureaucratic impediments that appear to be preventing this badly needed flow of humanitarian assistance, but what i can speak to is the responsibility that the russians have to use their influence with the assad regime to get the humanitarian assistance moving. there are hundreds of thousands if not millions of syrians who are in a desperate situation, and right now the instruction
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that could bring them lifesaving assistance are idling on the wrong side of the border. and that's the direct responsibility of the assad egime and their benefactors in oscow. the crux of this agreement has always been about russia demonstrating the capacity and the willingness to use their influence with the assad regime, to reduce violence and allow for humanitarian assistance to be provided. st reports indicate that the violence has been significantly reduced since this arrangement went into effect, but we have not seen the kind of humanitarian assistance eliveries that we need to see.
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darlene: on another subject. hillary clinton is returning to north carolina this afternoon. the question which was asked earlier this week, do you know if the president has spoken with her or otherwise communicated with her during the time she was recuperating? josh: i am not aware of any phone calls that president obama has placed to secretary clinton in the last few days. darlene: lastly, the president is addressing the congressional hispanic caucus. can you give us a little since? josh: well, i think the president will spend some time talking about how committed he's been to fighting for the kinds of policies that benefit middle-class families all across the country and benefit hispanic families all across the country. some of the statistics that i clear d at the top are a indication of the success of that strategy.
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and i think the president will his view rence to that it's incredibly important this strategy continue to be pursued under the next president. jeff. jeff: just going back briefly to syria. france became one of the first u.s. allies to be critical of that u.s.-russia agreement. said they'd like to see more details of it. is the united states sharing details of this agreement with allies like france? if not, why not? josh: jeff, i didn't see the specific comments, but the united states has certainly been in touch with our other allies and partners to help them understand exactly what we are trying to achieve, and i think countries like france that are as committed as we are to degrading and ultimately
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destroying isil understand how important it is for us to try to address the root cause of the violence and chaos that's allowed isil to spread in syria. so we'll continue to communicate with our allies and partners, but the terms of this agreement and with the aims of this agreement. jeff: [inaudible] josh: well, i haven't seen the precise details of it so it's hard for me to evaluate how credible it is, but i can certainly assure you and assure anybody in france that's watching if they have questions about this arrangement we can certainly have a conversation with them about what the arrangements entail and what exactly our aims are. jeff: on another topic. a hitman testifying in manila today saying that when a mayor
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of the city where killings are taking place that he ordered those killings to happen. does the white house have a reaction to that and will that be brought up with the philippines foreign minister? josh: well, i've seen the reports of that testimony. i think what i would remind you, jeff, is the president had the opportunity to talk about this when he was traveling in asia. obviously did not meet with president duerte in any formal setting. when asked to the degree to which human rights impacts our relationship with the philippines, the president i think was quite clear about how important it is for those universal rights to be protected. and the united states has worked closely with the philippines to address the security situation inside the mill -- philippines. some of that is driven by extremism and terrorists, but
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the drug trade in the philippines has also contributed to violence in that country. and the united states has strongly supported efforts by the government in the philippines to interdict the drug trade and to try to shut it down. it's important, however, that as those kinds of operations and efforts are undertaken that universal human rights are protected and engaging in that kind of law enforcement activity consistent with our commitment to human rights is important and we certainly encourage countries around the world, particularly our allies, to do exactly that. jeff: and lastly, north korea shortly before we came out said today that it was ready to launch another attack against proffercations from the u.s. and that was in response
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[inaudible] what is the white house's reaction to that? josh: well, jeff, we continue to be concerned about the provocations and destabilizations that are mounted by the north korean regime. the united states is strongly committed to denuclearizing the korean peninsula and standing shoulder to shoulder with our allies in the republic of korea as they face the threat from north korea. and that's not going to change. there is an opportunity for the north korean government to escape the deep isolation that they currently face, but it will require them to make a commitment to giving up their nuclear program and coming into compliance with the wide range of international obligations
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and u.n. security council that they continue to ignore. so we've been quite clear about what we believe the north korean government should do. thus far they have chosen the path of confrontation and provocation. as soon as they're ready to consider an alternate path toward reconciliation, the international community will be ready to engage. chris. ris: does the a.c.t. [inaudible] ncaa and championship games as result of the law that [inaudible] gender identity. does the president agree that the actions of these organizations were the right thing to do? josh: well, obviously these individual organizations are making their own decisions.
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certainly the president agrees with the values that were about ated by the ncaa their commitment to equality and justice for every american. when this issue first arose, i believe it was earlier this pring, made the observation that this kind of legislation wasn't just contrary to the values that are held by a lot of americans who do have a commitment to justice and equality, it's also inconsistent with the smart business strategy and we have seen private sector businesses and athletic organizations announce their intent to take their business elsewhere outside the state of north arolina. so, again, i think the
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president's got concerns with that but it's apparent the leaders of athletic organizations have similar concerns, particularly when it comes to the impact that it could have on discriminating ainst athletes, coaches or even fans. chris: do you think the decisions to cancel events in that state reflects national distaste for the law? josh: well, i think when you consider sort of the wide variety of companies and organizations that have come forward, not just expressing concern with the law but do lly making a choice to business elsewhere, i think you are on solid ground in indicating that opposition to the law is quite widespread and
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that a wide variety of people are quite uncomfortable with the discriminatory impact that it has. it's not just the ncaa and the a.c.c. which are collegiate athletic organizations, the nba has moved the all-star game and any number of private sector companies have made announcements curtailing their footprint inside the state of north carolina, again, concerned about the discriminatory impact this law could have on their employees or their customers or even their fans. this ain, i think highlights potential consequence that we discussed in here the very first time i was asked about it. chris: [inaudible] josh: when you say these actions you mean the decisions that were announced by the ncaa
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and a.c.c.? i have not talked to him. i don't think we've weighed the decisions those entities are making but certainly they have described the kinds of values that are leading them to make those decisions and those alues sound a lot like the values that president obama's been fighting for for the last eight years in the white house. rochelle. rochelle: we heard donald trump say that his plans would have the economy growing at a rate of 4% a year which has been disputed by some experts already, but is there anything you would like to add because a lot of people hear him say this? josh: well, i think i'll let others evaluate the proposals that are put forward by the candidates. i think what is clear is that president obama has put forward
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and implemented a strategy that's been good for the american economy, that's been good for middle-class families, that's been good for reducing poverty, that's been good for shrinking inequality and has been good for growing our economy particularly when you consider that no other advanced economy in the world has performed as well as the united states has under president obama's leadership. and all of that happened even though the united states was in the depths of the worst economic downturn since the great depression on the day that president obama took office. so in terms of having a test case for evaluating the success of the strategy that president obama put forward, i think we have a particularly good one and the results speak for themselves. rochelle: does the president this week plan to be going on the [inaudible] josh: i don't have an update on timing but i think the president will veto that legislation. rochelle: what are the concern that it could be overridden? josh: well, again, i don't
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think you have to have an advanced degree in math to for stand the significance the united states congress but the concerns that we have about this legislation are significant and there are many members of congress who are sympathetic to the argument and i think the argument goes something like this -- we have system in this country for identifying, isolating and even punishing countries that support terrorism. this process is actually one that is established by statute. this is a process where congress and the administration worked together to identify these countries and to isolate them. we believe that is a much more effective way for the united states to respond to state sponsor terrorism and to
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prevent countries from giving into the temptation to sponsor terrorism. that's more effective than a patchwork system of legal decisions that could cloud the clarity that is needed to forcefully respond to state sponsor terrorism. so i think that's the nexus of the -- that's the basic argument that we'd make, and i think there's a lot of sympathy to that argument on capitol hill even if there are a lot of members of congress who are a little intimidated by the politics. but that's not going to stop the president from taking a principled decision and a principled argument about the best way to protect the country and the best way to protect the american people from terrorism. rochelle: that's what i'm getting act. the fact that so many democrats support this bill, the white
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house feels exactly the opposite. those members of congress couldn't be swayed. are they just wrong or -- the decision is already made. josh: well, i would ack knowledge they haven't been swayed, but the president continues to believe this is an important principle to fight for and we're going to continue to have conversations with members of congress and continue to urge them to consider the most effective way for the united states to confront state sponsor terrorism. we have a mechanism on the books that works well, that highlights effective cooperation among our national security agencies, the executive branch and the united states congress. that's it. that is a more effective system, we believe, than a patchwork system of judges that could in some cases arrive at different conclusions about the
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culpability of individual countries and their role in terrorist activities. tool. is an effective identifying these countries has the effect of isolating them in the world. and that certainly has an impact on their ability to engage in terrorism or to harm the american people with terrorism. it also serves as a pretty effective deterrent for other countries that might be considering engaging in that kind of activity. rochelle: you said republicans play with congress -- playing politics with some of their pieces of legislation. so in this case, i mean, you'll speak to the sympathy there is on the hill but do you feel in this case democrats are being swayed or overrun by political pressure? josh: again, i think -- look, in this case there are a large number of democrats and a large
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number of republicans that have the same position so i think you have to ask them exactly why they have taken that position. i think i am standing here articulating here what is a principled position that the president has taken. here is nobody here who is unable to understand why the politics -- this is hard. i guess you might say the president may have a little bit more standing in the face of these tough politics to make this argument given how strong his record is in fighting for 9/11 families. he's somebody who prioritized taking osama bin laden off the battlefield and bringing him to justice. that is a promise he made good on. president obama has been a leading advocate of ensuring that first responders to ground zero get the kind of support and health care that they need for the risks that they took to try to save their fellow
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americans and to rebuild at the site of this terrorist attack, and president obama has used the occasion of 9/11 over the last eight years to speak powerfully and emotionally about how the families of those who were lost on 9/11 are a genuine inspiration to him and a testament to the resilience of this country. look, maybe that gives the president a little bit more latitude to take this principled stand, but hopefully we'll succeed in persuading some members of congress to join us. rochelle: the president has himself reached out to members of congress on this, and does he plan to? josh: i don't know if there are any presidential level on this. but there have been extensive conversations between members of the president's national security team and leading officials on capitol hill. ok. alex. alex: senator elizabeth warren also marked the eighth
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anniversary of the -- with a powerpoint. she sent a letter to f.b.i. comey asking for the release of any documents related to the investigations into wall street's role in the financial collapse. does the white house support the release of those documents? is that something the american people deserve to have access to? josh: well, what the white house supports is director comey making the decision independent of any sort of political influence about the release of investigationive materials. -- investigative materials. so i'll leave it to him to find an effective way to respond to that question. you know, i think what senator warren does, though, underscore in her letter is how important it is for us to learn the mistakes that were made in the past and to build a financial system and build safeguards into our financial system that
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won't put taxpayers on the hook for bailing out large financial institutions that make bad bets. that's what we succeeded in doing in wall street reform, of there are many opponents wall street reform who said they couldn't support the legislation because it would throw a wet blanket on the economy. they've been wrong, and we have enjoyed significant, an historic period of growth since this bill went into effect and was signed into law by the president of the united states. so it is an indication that we can put in place protections on wall street that will insulate middle-class families from the risky bets of wall street traders even as we strengthen the overall economy and contribute to strong economic growth and contribute to growth in the stock markets and in the
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incomes of middle-class families. we've enjoyed historic gains in both since president obama signed that bill into law. so, again, i think the strategy that president obama has pursued is one that stands up to a lot of scrutiny when you consider the economic impact of those decisions. alex: on another subject, there e disturbing details about a boot camp. marines placed -- who allegedly committed suicide during a suspected hazing incident. a local paper, boferte gazette, reported an investigation was actually prompted by a letter by the white house. how closely is the white house following this? has the president been briefed? josh: well, alex, i think everybody here has seen the news reports. i haven't spoken to the president about this. he's the commander in chief, so i'm confident he's aware of
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this situation and aware of these reports. there's no denying that the graphic details that are included in these reports are disturbing. the united states marine corps has indicated a commitment to investigating exactly what's happened and i know they'll take appropriate action to conduct that investigation and to hold accountable those who are responsible for any sort of misconduct. i i know the marine corps that they take all reports of misconduct seriously. look, the men and women in the united states marine corps hold themselves to an extraordinary high standard of personal nduct and a vast majority of the men and women in the united states marine corps do exactly that. that's why reports of misconduct must be thoroughly
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investigated. alex: is there a worry there is a larger issue of the current climate with regards to xenophobia or hostility towards the muslim community? osh: i am confident that the -- let me say it this way. obviously the commander in chief is quite concerned about making sure that those young americans who sign up to serve in our armed forces are in many ways placed under his care and he takes quite seriously the responsibility he has as commander in chief in ensuring that recruits to the united states military are treated with dignity and respect and ot subject to abuse and hazing even as they undergo the kind of rigorous training that's required to meet the high physical and mental standards that's required in saving in
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the united states military. so that is something that -- this commander in chief has certainly prioritized. i'm confident that the leadership of the united states marine corps has prioritized this as well. but for the details of their investigation or if there are any accountability measures they determine are appropriate, i'll let them speak to that primarily because if there is any sort of military justice proceedings, i don't want anything that i have said here to be perceived as interfering in that investigation or interfering in this proceeding. i need to be a little circumspect, but i can certainly say with confidence that the commander in chief wants to ensure that young americans who sign up to serve in our military are afforded fair treatment
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that they deserve, particularly considering the sacrifice that they indicated they're prepared to make for the country. alex: do you have more details about the african-american museum yesterday? did you have a chance to talk about it? was there an exhibit that stuck out to him? josh: i didn't talk to the president about his visit to the museum last night. what i can tell you is the president will have an opportunity to participate in some of the festivities that are scheduled for the end of next week to mark the opening of the smithsonian -- or the african-american museum that's been organized by the smithsonian. so the president and the first lady are quite enthusiastic about the opening of the museum and we'll have a little more of an opportunity to talk next week about how they'll participate in those activities. jordan. jordan: thanks, josh. the senate today passed the water resources development act which includes emergency funding for flint and other
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communities with lead contamination. the house version of the bill contains that funding for various reasons. i wonder if the administration has -- [inaudible] josh: i don't -- i haven't seen the details of the bill so i don't know we've taken a specific position on it at this point. what we have indicated for quite sometime is we do believe that congress should provide additional resources to the state of michigan and to the the f flint to address situation with regard to the water supply there, but how congress chooses to do that is something congress is going to have to figure out. but this administration will continue to press them to make that a priority. caleb: thanks, josh. hillary clinton indicated she had t nominate marlin if
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a chance to nominate a supreme court justice. she would consider anyone that represents the diverse of the -- diversity of the country. do you have any reaction to the fact that hillary clinton if she wins office may make a different choice than what the president did? josh: if senate republicans will do their job it won't come to that. if senate republicans do their job then merrick garland will have a lifetime on the supreme court and hillary clinton strongly supports. when president obama announced his decision to nominate merrick garland to the supreme court, she said the president made a good choice. she described merrick garland as somebody who's a brilliant jurist. her opinion is one that's widely shared by democrats and republicans. that's why what republicans in the united states senate have done -- have drawn so much condemnation, not just from
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democrats all across the country but even some epublicans who uncomfortable with the republican argument that somehow presidents are not allowed to nominate judges in their last year in office. there's no such provision that exists in the united states constitution. it's ironic because many of these same republican senators described themselves as strict constructionists when it comes to interpreting the constitution. you know, apparently that's maybe part of the constitution that they haven't read. in some cases you might actually question the intellectual honesty of some of these senators, particularly senator cornyn and cruz that are advocating for the republicans -- nomination of justices in texas. you can't have it both ways. if they're concerned about vacancy on the federal bench in texas, how can you not be concerned about it a vacancy on
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the highest court of the land, particularly when that vacancy we know has prevented the supreme court from being able to reach conclusions on some pretty tough questions. so republicans are playing politics with this issue in a way that is intellectually dishonest and ends up making them look even worse than most people already think they look when you consider that congress is polling in the teens these days. so i don't think there's anything i said in my admittedly long answer that secretary clinton would disagree with at all. one thing we know she agrees with is chief merrick garland was a good choice by president obama and she thinks that the united states senate should do their jobs and republicans in the senate should do their job, allow him to get a hearing and that he should be confirmed to serve in a lifetime appointment on the supreme court. jordan: i want to ask you
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something that the president said at a fundraiser earlier this week. he said this race shouldn't be close but it is and weird stuff happens because donald trump won the primary. you said many times previously that he doesn't think donald trump will win the presidency. given the fact that the polls is he now ng and more concern that he will not be succeeded by a democrat? josh: his remarks is he doesn't want people to be complacent. i think there is plenty of evidence that we can point to even today that give the that his confidence earlier prediction will be correct but we sure can't take it for granted and the president himself is not taking it for granted given how high
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the stakes are. that's why you will see the president so aggressively working between now and election day to ensure that he hand as he described it, the baton off to a successor who values it. jordan: senator rubio introduced a bill to try to keep guns out of the hands of terrorists and in the wake of the orlando shooting. i wonder if the white house has seen the bill and if you have a chance to weigh in on it? josh: we have not seen the bill. let me take a look at the details and we'll get back to you. this is an issue that we've been concerned about for sometime. let's take a look at the proposal that senator rubio has put forward and we'll try to get you an answer. andrew. andrew: i want you to follow-up on the 9/11 bill. are you waiting for congress to adjourn? josh: well, andrew, i don't
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have enough information about the timing. obviously the constitution gives the president 10 days to make a decision about whether to sign a bill or to veto it. and the president's going to veto it. i don't want to leave you with the impression that the decision is up in the air, but when -- but the president will make a -- will veto it within the next 10 days. >> all of this available online at c-span.org. we'll take you live now to greensboro, north carolina, hillary clinton back on the campaign trail just getting under way. live coverage here on c-span. [captions copyright national cable satellite corp. 2016] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> ♪ so nice so nice got you ♪
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♪ when i hold you in my arms i know i can do no wrong ♪ ecretary clinton: thank you. audience: hillary! hillary! hillary! secretary clinton: thank you. hank you, all. hello, emp. it's great to be here -- hello, everyone. it's great to be here at u.n.c.-greensboro. chorse cheers secretary clinton: i want to thank martha for that wonderful introduction. it's great to have her here along with her wonderful daughter, sarah, and her mother, barbara, and the story
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she told is really one that motivates me every day because it is kids like sarah that led me to politics in the first place, to try to make our country and our world better for them. so to see sarah grown up and thriving is very special, and your whole family's support really means the world to me. thank you, martha, sarah. cheers and applause] secretary clinton: i have to say it's great to be back on he campaign trail. [cheers and applause] secretary clinton: as you may know, i recently had a cough that turned out to be pneumonia. i tried to power through it, but even i had to admit that maybe a few days of rest would o me good.
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i am not great at taking it easy even under ordinary circumstances, but with just two months to go until election day -- sitting at home was pretty much the last place i wanted to be. but it turns out having a few days to myself was actually a gift. i talked with some old friends. i spent time with our very sweet dogs. i did some thinking. you know, the campaign trail doesn't really encourage reflection, and it's important to sit with your thoughts every now and then and that did help me reconnect with what this whole campaign is about. people like me, we're lucky. hen i'm under the weather --
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cheers and applause] audience: hillary! hillary! hillary! hillary! secretary clinton: now, i just want to have a conversation and other people can wave their arms and their signs, but i want you -- i want you to think with me for a minute about how i certainly feel lucky when i'm under the weather, i can afford to take a few days off. millions of americans can't. they either go to work sick or they lose a paycheck, don't they? lots of americans still don't even have insurance or they do but it's too expensive for them to actually use. so they toss back some tylenol,
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they chug orange juice and hope that the cough or the virus goes away on its own. lots of working parents can't afford childcare, which in many states cost as much as college tuition, so for millions of moms and dads, if they get sick, there's no backup. they're on their own, aren't they? that's the story for too many people still in america. when illness strikes or an accident happens, you feel you're on your own. if you lose your job or can't afford college, you're own your own. if your aging parents start needing more help and you don't now what to do, you're on your own. life events like these are catastrophic for some families, but mere bumps in the road for
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others. i have met so many people living on a razor's edge, one illness away from losing their job, one paycheck away from losing their home and that goes against everything we stand for as americans because some things should not come down to luck. some things should be within reach for everyone no matter what. [applause] secretary clinton: like financial security, like affordable health care, like the peace of mind that comes with knowing that if something goes wrong your family will be the d above all, knowledge that no matter what, your president is fighting for
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you and will always have your back. cheers and applause] secretary clinton: that right there, that's why i got into this race. i am running for everyone working hard to support their families. everyone who's been knocked down but gets back up. [cheers and applause] secretary clinton: the factory workers on their feet all day and the nurses looking after patients all night. i'm running for young people who so many here dream of changing our world for the better, and for all the parents and grandparents supporting those dreams by dedicating every dollar they can spare to your education. [cheers and applause]
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secretary clinton: i'm running for the lgbt teenager here in north carolina who sees your governor sign a bill legalizing discrimination and suddenly feels like a second-class citizen. cheers and applause] secretary clinton: and if anyone wonders what the cost of discrimination are, just ask the people and businesses of north carolina. look at what's happening with the ncaa and the a.c.c. this is where bigotry leads, and we can't afford it. not here. not anywhere else in america. cheers and applause] secretary clinton: i'm running for women like janelle turner. back in may of last year, janelle was diagnosed with breast cancer. she went through nearly six
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months of very tough treatments. last october, she brought her 8-year-old daughter to one of our rallies in iowa and they ade a huge sign that read, "13th chemo yesterday. three more, hear me roar." wouldn't you want to meet the woman behind that sign? well, i sure did. so we got talking and we stayed in touch. she keeps promising me she'll see me at the inauguration, and i tell her i'll keep working to get there but she'd better be there too. all the ng for her and mothers who are trying to get and stay healthy to be there for their kids. but perhaps most of all, i'm running for those kids. cheers and applause]
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secretary clinton: standing up for children has been the work of my life. as a lawyer with the children's defense fund, as first lady in arkansas, in the white house, as a senator, i have fought for kids housed in adult jails, kids who've been neglected and abused, kids who couldn't get health insurance because of pre-existing conditions, kids with disabilities so they could go to school. you heard today from someone i've known for a long time, now grown up and a lovely young woman, an stashia. i learned from my family and my methodist faith that we are each called for all the people we can for all the people we can for however long we can. and to me that means making sure all our children have the chance to live up to their god-given potentials. cheers and applause]
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secretary clinton: so when i meet a little girl in nevada terrified her parents will be deported it gets me in the gut. when i meet a little boy in flint, michigan, who can't drink the water at home or in school because it's poisoned with lead, that gets me going. all i want to do is get to work making things better for them. that's why i care so much about national security, too. i want to give our kids a safer world. to me that means a world with strong allies, more friends, fewer enemies and fewer nuclear weapons. cheers and applause] secretary clinton: it also means fighting climate change
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so we can leave our kids a healthy planet. my opponent in this race disagrees with me on every one of these fronts. just a few days ago he said that if another country's troops taunted ours, not fired just but taunted them, taunt, he'd respond -- he would respond by blowing them out of the water. e would start a war over that. [audience booing] secretary clinton: that is just one more reason, my friends, why the stakes in this election are as high as any in our lifetime. you know, i've been involved in politics in one way or another for many years. it is not an easy business. it can get rough and i've built up some defenses when it comes to public service, i'm better at the service part than the
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public part, but this is why i do it and this is who i'm in it for, to make life better for children and families and that's what this race has always been about for me. well, now we're in the final stretch. there are just 54 days until election day. just 54 days until the most consequential vote of our lifetime. cheers and applause] secretary clinton: and just a little more than a month until early voting starts here in orth carolina. let's make these days count, particularly here, because you know what your governor and legislature tried to do, make it harder for young people to vote, harder for people of color, harder for people with disabilities, harder for the elderly. there can't be any more motivation than that, to make
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sure every young person, every person of color, every person with a disability, every older erson turn out and vote! so in these final days, let's try to tune out all the chatter and the nonstop analysis that doesn't often have much to do with what the next has to do, to create good jobs, to create opportunity, to make it possible for every young person to afford to go to college or get the skills that you need for the jobs of the future. let's talk about what really matters, and here's my promise to you. i'm going to close my campaign the way i began my career and the way i will serve as your president should you give me that great honor, focused on opportunities for kids and
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fairness for families. next week, i'll go to philadelphia to talk about challenges facing our young people. in florida to focus on building an economy that welcomes every one's contributions, including people with disabilities. then, i will be back here in north carolina to meet with more working families. from now until november 8, everywhere i go i'm going to talk about my ideas for our country. you know, my campaign has rolled out detailed plans in 38 different policy areas. yes, somebody actually counted. everything from reining in wall street to creating good-paying jobs to fighting alzheimer's, support people with autism. you see, i have this old-fashioned notion that if you're running for president, you should say what you plan to do, how you're going to get it done and how you're going to pay for it. cheers and applause]
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secretary clinton: you can read all on my website hillaryclinton.com and we put it in a new book called, you guessed it, "stronger together." get a copy of it because it tells you everything tim kaine and i intend to do. now, like a lot of women, i have a tendency to overprepare. i sweat the details, whether we're talking about the exact level of lead in the water in flint or how many north carolina kids are in early enrichment programs or the precise interest rate on your student loans, right down to the decimal. [cheers and applause] secretary clinton: because you know what, it's not a detail if it's your kid, it's not a detail if it's your family, it's a big deal and should be a big deal to your president. [cheers and applause]
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secretary clinton: now, i confess, i'll never be the showman my opponent is and that's ok with me. just look at -- look at the show he put on with dr. oz today. but i am going to deliver for you and your family just like i id for sarah all those years ago with the children's health insurance program that gave her the chance to be the extraordinary young woman she is. [cheers and applause] secretary clinton: and i'll tell you something else. people accuse me all kinds of things. you've probably seen that. but nobody ever accuses me of kit quiting, and i'll -- accuses me of quiting, and i'll never give up, i'll never walk away no matter how tough the going gets. i'm actually asking americans to hold me accountable for my ideas and hold my opponent
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accountable for his. [cheers and applause] secretary clinton: we don't need a president who says the minimum wage is too high. we need a president who knows that americans deserve a raise to get to a living wage. we don't need a president who wants to take away people's health coverage. we need a president who wants everyone to have quality, affordable health care. and we don't need a president who apparently thinks only married people deserve paid leave and only mothers ever stay home with the kids. we don't need someone who rushes out a half-baked plan just weeks before an election after decades of ignoring or putting down working moms. we need a president who has spent years fighting for these issues, who has a plan to
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support all families in all their various shapes. ask yourself which candidate you can count on to be on your side, respect your family, stand up and fight for you and your kids. audience: hillary! hillary! secretary clinton: that is who you should vote for on november 8, because as michelle obama said in her fabulous speech at -- emocratic convention [cheers and applause] secretary clinton: when we go to the polls this november, the real choice isn't between democrat or republican, it's about who will have the power to shape our children for the next four years of their lives.
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it's also about the kind of country we want to be and what we want to leave behind for future generations. people have to decide, are we going to make our economy work for everyone or just those at the top? are we going to bring people together or pit americans against each other and rip our country apart? are we going to work with our allies to keep us safe or are we going to put a loose cannon in charge who would risk everything, generations of americans worked so hard to build? now, i have a lot of confidence in the american people and in our country. my opponent keeps running us down saying we're weak, a disaster, an embarrassment. every time he says things like that i think about janelle and her strength in the face of cancer, or martha and sarah in the face of their health challenges and that little boy in flint who gets up every day
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and goes to school even though he can't drink the water. see, my opponent has america all wrong. there's nothing we can't do one e come together as nation. set a goal and pursue them. [cheers and applause] secretary clinton: and the american dream -- the american dream is big enough for everyone to share in its promise. so if you believe the minimum wage should be a living wage, that no one who works full time should have to raise their children in poverty, join us. if you believe that every man, woman and child in america has the right to affordable health care and women should be free to make our own health decisions, join us! cheers and applause] secretary clinton: if you believe -- if you believe your working mother, wife, sister or
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daughter deserves equal pay, hen join us! get involved these last 55 days. go to hillaryclinton.com or text join, j-o-i-n, to 47246. we need volunteers right here in north carolina. we can't do this without you. and remember, the presidential race isn't the only one this fall. we got a lot of important statewide races. let's come together and send deborah ross to represent the people in the senate. starting on october 20, you can register and vote early at the same time at any one-stop early voting site in your county. so the heat is on. spread the word. tell your friends, your family, your neighbors. if you share our vision for america's future, come be part
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of helping us shape it. we do not have a minute to lose. we have so many blessings. now it's our job to deliver on those and to make sure every single person and particularly every child, no matter who they are, what they look like or who they love is part of the american dream now and way into the future! [applause] let that be our message, let that be our mission, please come out and help us fight, fight for you, fight for our children, fight for our family, let's make america all that it should be. thank you and god bless you. cheers and applause]
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♪ so good so good i got you i feel nice ♪ke sugar and spice ♪ [captioning performed by national captioning institute]
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[captions copyright national cable satellite corp. 2016]
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♪ >> more from hillary clinton later today on c-span. she and president obama are speaking at the congressional hispanic caucus gala in washington. you can see the remarks here on c-span live starting at 7:00 eastern. >> for campaign 2016, c-span continues on the "road to the white house." >> we're going to get things done, that's who we are as americans. >> we will have one great american future. our potential is unlimited. >> ahead, live coverage of the presidential and vice-presidential debates on c-span. the c-span radio app and
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c-span.org. monday, september 26, is the first presidential debate. live from hofstra university in hempstead, new york. hen on tuesday, october 4, senator tim kaine and governor mike pence debate in the vice-presidential debate. then sunday, october 9, the second presidential debate, leading up to the third and final presidential debate, taking make at university of nevada-las vegas on october 19. live coverage of the presidential and vice-presidential debates on c-span. listen live on the free c-span radio app or watch live or on demand any time at c-span.org. >> donald trump said today he's not sure hillary clinton is, quote, physically up for debating. politico reports that appearing on an albany talk show, the host
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asked the republican presidential nominee if he thought hillary clinton was ready for the debate. he said, quote, i just don't know. i mean, you need tremendous stamina, i mean, tremendous. also today, donald trump said if he's elected president, the u.s. economy will add 25,000 new job he promised unbridled economic growth. in remarks today before the economic club of new york. >> the president of the economic club. the economic club of new york is the nation's leading nonpartisan economic, social issues. more than 1,000 prominent guests have appeared before the club over the last years and have established a strong tradition of excellence. we want to personally recognize the now 234 members of the
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entennial society. these club members continue to make extraordinary contributions to ensure the stability of the club in its second century. their names are in your program and they are seated in the front. we would also like to welcome the member-sponsored table of students from n.y.u. cern school of business that are in attendance today. after the convention this summer, the economic club and the brd of directors extended an invitation to both of the candidates to come to the club and present their economic platform. this afternoon, we are absolutely honored to be able to welcome our guest speaker, donald j. trump, the republican
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presidential nominee. [applause] i'm delighted to say that to introduce mr. trump today we are pleased to welcome indiana governor and vice-presidential candidate mike pence. [applause] gnchor. governor, the podium is yours, sir. [applause] mr. pence: thank you. thank you to members of the ard, honored guests, fellows on -- at the head table. it is a great, great honor for this small town boy to be in the
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big apple. and to introduce today the next president of the united states of america. [applause] it's a particular honor for me to be here at the economic club of new york a historic and storied place, a place where men and women who drive not only this great city but much of the dynamic american economy over the decades of our nation's history in so many different ways. each one of you makes an extraordinary difference and i'm honored to be before you today. it's great to be back in new york city. i've beenen the campaign trail for the last couple of months. this is my first time back since i accepted my running mate's invitation to run and serve as the next vice president of the nited states of america.
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heas humbled to accept that, is a builder, he is a dreamer and i believe when 4e becomes president he -- when he becomes president he will make america great again. [applause] we find ourselves on this day in the middle of september, 2016, in the midst of the weakest economic recovery since the great recession. at this historic forum, the republican nominee for president of the united states will do what so many other american leaders have done from this very podium. he will take this moment to outline a new economic vision, a vision to make this country great and strong and prosperous again and it is truly my privilege to introduce him today.
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you all know him well here in new york city. i've just gotten to know him over the last few months. but i got to tell you, i had someone walk up to me the other day and they said, i've known donald trump for the last 30 years and i really like him. i told him, i've known him for the last 120 days and i really like him. this is a good man who loves his family and loves this country and he will be a great president of the united states. [applause] we've become fast friends. for all the world it seems like i've known him all my life. like so many other builders and entrepreneurs, he's a dreamer, he's a driver, he's a man who speaks his mind. but i have to tell you, what you may not know here in the big apple is that clear-eyed vision and that leadership has literally inspired a movement of people all across this country. i was in scranton, pennsylvania, last night. he was in ohio.
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everywhere i go campaigning with donald trump or for donald trump i see firsthand that he's given voice to the aspirations and the frustrations of the american people, like no other president in my lifetime since ronald reagan. i think the key is that donald trump has never forgotten the men and women in this -- who built this country. men and women who worked with their hands, who grow our food, who build our roads and bridges and protect our families. and they know it. this is a challenging time. for working families all across this country. the truth of the matter is, as i stand before you today, not only are we in the midst of the weakest economic recovery since the great depression, but we're -- we also have an economy that in the last quarter only grew by 1.1%. we have the lowest labor participation rate since the 1970's and most heartbreaking of all, from 7 1/2 years ago to today, there's nearly seven million more americans living in poverty than there were in 009.
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you know, for all the world, these days remind many of us of the 1970's. then as now we had one candidate who spoke of a national malaise and of accepting a status quo. and then there was another candidate who spoke with confidence of a boundless american future and the american people chose that optimistic future and i believe they will again. [applause] the other party tells us this is the best that we can do. that the american people know better -- but the american people know better. it's nowhere near the best we can do, it's just the best they can do. and when donald trump becomes president of the united states of america, we're going to get this economy moving again for every city and every town and every state in the nation. [applause]
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today you'll hear donald trump again describe that vision that will unleash the bounledless potential of the american economy -- boundless potential of the american economy. an american economy that will be driven by empowering working families and businesses large and small. encouraging entrepreneurs to invest, to build and to grow and to produce right here in america again. and so let me say it is a joy for me, it is a privilege for me. but it is also a distinct honor to introduce to you the next president of the united states of america, donald trump. [applause]
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mr. trump: thank you very much, ladies and gentlemen. it's a great honor to be with you. we had some really incredible things happen today. the polls are coming out, we're leading in so many polls. i can't tell you, i don't know where to begin. but that's a good feeling. we are, i guess cnn just came out, we're leading nationwide with cnn. we're leading in ohio and we're leading just -- i think it just came out, we're leading in north carolina, florida, we're leading and we're having a lot of fun. we're having a lot of fun on the campaign. nd on the trail. i just wanted to say that -- it's always a lot of fun when you come up and the people don't have the teleprompter working,
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but that's ok. [laughter] lucky i brought some notes. today i do want to outline a plan more american economic revival. it's a bold and ambitious and forward-looking plan to massively increase jobs, wages, income and opportunities for the people of our country. great people of our country. i will tell you. my plan will embrace the truth that people flourish under a minimum government burden and will tap into the incredible unrealized potential of our workers and their dreams. right now 92 million americans are on the sideline outside of the work force and they're not a part of our economy. it's a silent nation of jobless americans. and look no further, and i mean no further, all you have to do is look at flint, where i spent a lot of time, the city of flint. and what a disaster has taken place.
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the jobs have been stripped from the community and its infrastructure has totally collapsed. in 1970 there were more than 80,000 people in flint working for general motors. oday it's less than 8,000. we have 8,000 people and that's going down. and they're making very, very little, and people are trying to o down to that $,000 mark. what we're doing is ford, ford has announced just yesterday that they're moving their small car production facilities to mexico. and i've been talking about this a long while and i think that's aybe one of the reasons that we're doing so well in ohio and michigan and lots of other
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places where cars and parts are involved. to think that ford is moving its small car division is a disgrace. it's disgraceful. disgraceful that our politicians allow them to get away with it. [applause] really is. it used to be cars were made in flint and you couldn't drink the water in mexico. now cars are made in mexico and you can't drink the water in flint. [applause] we're going to turn this around . my economic plan rejects the cynicism that says our labor force will keep declining, that our jobs will keep leaving. and that our economy can never row as it did once before.
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and boy, oh, boy, did it used to row. we reject the pessimism that says our standard of living can no longer rise and that's all there is really left to divide because frankly we're looking at an economy now of no growth and redistribution of wealth. and that's not going to ork. everything that is broken today can be fixed and every failure can be turned into a truly great success. ust look at the way i just melded into the teleprompter that just went on. [laughter]
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who else could have pulled that off, ok, who else. [applause] jobs can stop leaving our country and they will just absolutely start pouring in. failing schools can become flourishing schools. crumbling roads and bridges can become gleaming new infrastructure. inner cities can experience a flood of new jobs and investment and rising crime can give way to safe and prosperous communities. all of these things and so much more are possible. but to accomplish them we must replace the present policy of globalism, which has taken so many jobs out of our ommunities, and so much wealth out of our country and replace it with a new policy of americanism. [applause] america first. remember that. [applause]
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understand this american system, every policy decision we make must pass a simple test. does it create more jobs and better wages for americans? the test. if we lower our taxes, remove destructive regulations and we have to do that, unleash the vast treasure of american energy and negotiate trade deals that put america first, then there is no limit to the number of jobs we can create and the amount of prosperity we can unleash. america will truly be the greatest place in the world to invest, hire, grow and to create new jobs, new technologies, and entire new industry. instead -- thank you. [applause] instead of driving jobs and wealth away, america will become the world's great magnet for innovation and job creation.
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my opponent's plan rejects this optimism. she offers only more taxing and her tax increases are unbelievable. more regulating. more spending. and more wealth edistribution. a future of slow growth, declining incomes and dwindling rosperity. the only people who get rich under hillary clinton are the donors of the special interests. but bad for our country. and hillary clinton's america, we have surrendered our status as the world's great economy. and we have surrendered our middle class to the whims of foreign countries. we take care of them better than we take care of ourselves. ot one single idea she's got
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will create one net american job or create one new dollar of american wealth for our workers. the only thing she can offer is a welfare check. that's about it. our plan will produce paychecks and they're going to be great paychecks for millions of people now unemployed or underemployed. in the course of this campaign, i've traveled all across the country and i've met the most amazing people. every day i've seen the good -- the goodness and character of our country and brave citizens proudly fighting through hard times and difficult circumstances. i have been all over this country, folks, and we have unbelievable people, but they need leadership. the country needs leadership. in many parts of our country, the hard times never seem to
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end. i visited cities and towns in upstate new york where half of the jobs have left and moved to exico and other countries. the businesses are gone, they've been taken away, like taking candy from a baby. politicians have abandoned these places all over the country and the people who live there are just there. no hope. worse still, politicians have heaped scorn and disdain on these wonderful americans. my opponent described tens of millions of american citizens as deplorable and irredeemable just last week. so how can hillary clinton seek to lead this country when she considers its citizens, tremendous, tremendous numbers of them, beyond redemption? the
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hardworking people she calls deplorable are the most admirable people i know. they're cops. [applause] and soldiers. teachers and firefighters. young and old. moms and dads. blacks and whites. latinos. above everything else, they're americans. some are rich americans, some are poor americans. they're americans. they love their families. they love their country. and they want a better future. these are the forgotten men and women of our country and they have been forgotten. people who work hard but don't have a voice. i'm running to be their voice. [applause]
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mr. trump: and to bring prosperity to every part of this country. too many of our leaders have forgotten it is their duty to protect the jobs, wages and well-being of american workers before any consideration. we have to do that. i'm not running to be the president of the world. i'm running to be the president of the united states of america. [applause] and as your president, i will fight for every last american job and every american company, which really a lot of companies in this room, i can tell you. we are going to be fighting for you. [applause] you are bringing the jobs. we are a nation that paved the way, dug out the panama canal and won two world wars and put a
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man on the moon. it's time to start thinking big once again. that's why i believe it's time to establish a national goal of reaching 4% economic growth. [applause] and my great economists don't want me to say this, but i think we can do better than that. they're upset, will be very upset. but i think we can substantial -- do substantially better than that. in working with my economic team we put together a plan to put us on track to achieve that goal. over the next 10 years, under our plan, the economy will average .5% growth and create a total of 25 million new jobs. you can visit our website. just look at the math. t works.
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[applause] this growth means that our jobs and plans, including our child care reform that ivanka trump, my daughter, is so involved in, will be complete -- i like her too. will be completely paid for in combination with proposed budget savings. it will be deficit neutral. if we reach 4% growth, it will reduce the deficit. it will be accomplished through a complete overhaul of our tax, regulatory, energy and trade policies. [applause] right now, under the obama-clinton policies, the economy grew only 1.1% last quarter a number that was shocking to people that do this
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professionally and for life. it translates into millions of lost jobs and certainly millions of lost good jobs because we don't have good jobs anymore. those jobs are gone and going. this is the weakest so-called recovery since the great depression. over the last seven years, the economy grew only 2.1%, the lowest period in 70 years. had the economy grown at the same rate as reagan, it would have meant 10 million more obs. perhaps most shockingly, one in six men aged 18 to 34 are either in jail or out of work. meanwhile, another two million hispanic americans have been added to the ranks of those in poverty. on top of it all, the
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obama-clinton policy has doubled the national debt. it took more than 230 years for the united states to accumulate its first $10 trillion in debt. it took president obama less than eight years to add another $10 trillion. now, it will be one thing if that money had been used to completely rebuild our nation, our military, our infrastructure, but that didn't happen. instead, the opposite happened. we doubled our debt and in return, we have dilapidated infrastructure, failing schools, a badly depleted military, greatest people on earth and they have a badly depleted military, its equipment, old and tired. and another 14 million people
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ho have left the work force. never has so much money been spent so poorly and so unwisely. but we are going to turn that all around and here's how. it begins with bold new tax reform. [applause] don't worry, they're going down, not up. they're going down. you were concerned they were going up. as outlined in detroit, our tax plan will greatly simplify the code and reduce the number of brackets from seven to three. the new brackets will be 12%, 25%, and 33%. low income americans will pay no income tax at all. in fact, our plan will remove millions and millions of workers from the income tax roll entirely so that all of that ork that we do in washington
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can be discontinued. they'll pay tax, they'll pay tax but they'll pay tax when they start making a certain amount of income. by lowering rates, streamlining deductions and simplifying the process, we will add millions and millions of new jobs. in addition, because we have strongly capped deductions for the wealthy and closed special interest loopholes, the tax relief will be concentrated on the working and middle class taxpayer. they will receive the biggest benefit and it won't even been close. they have been forgotten. we are not going to forget them. they have built our country. we will not forget. thank you. [applause] this is a working and middle class tax relief proposal. the tax relief for these workers
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will be expanded by my child care proposals that i have worked on with my daughter ivanka. these proposals are central and are very, very powerful central element of our comprehensive tax reform and economic growth plan. families will be able to fully deduct the average cost of child care from their taxes, including stay-at-home parents. because the deduction is capped, it will be disproportionately and it will benefit working and middle class families. got to take care of our middle lass families. the less you make, the larger the share of your income you can exclude from taxation. parents will also be able to enroll in a tax-free dependent care savings account for their children or elderly relatives. low income households will
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benefit from both an expanded earned income tax credit in the form of child care rebates and a matching $500 contribution for their savings account. a married couple earning $50,000 per year with two children and $8,000 in child care expenses will save 35% from their current tax bill. that's a tremendous savings. [applause] and they'll have a better life. a married couple earning $75,000 per year with two children and $10,000 in child care, expenses will receive a 30% reduction in their tax bill from what they are paying right now. by contrast, someone earning $5 million, like the people in this room, will receive virtually no change in their tax bill at all. one of our greatest job creation
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measures is going to be our 15% business tax rate, down from the current 35% rate, a reduction of more than 40%. [applause] i know that's what you people have been waiting for. an explosion of new businesses and new jobs will be created. it will be amazing to watch. you watch and it will happen. we will also allow united states-based manufacturers to fully expense the cost of new plants and equipment. big, big deal. [applause] on top of that, we will bring back trillions in business wealth and this is wealth that costs overseas, nobody knows how much it is. they say it's $2.5 trillion. i have people who think it's $5 trillion.
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we'll bring them back and it'll be taxed only at the rate of 10% instead of 35%. who would bring it back at 35%? obviously nobody because nobody is doing it. i think it's going to be something that will be so phenomenal, far beyond what people even think. by taxing it at 10% instead of 35%, all of this money will come roaring back into our country and lots of good things will start to happen. we will turn america into a new magnet with new jobs and that means jobs in our poorest communities. so important. and right now, we have companies leaving the country because taxes are too high, but we actually have companies leaving the country to get their money. that's a first. nobody has ever heard of that one before but believe me that's appened.
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next comes regulation. we have to scale back years disastrous regulations, unilaterally imposed by out of control bureaucrats. regulations have grown into a massive job-killing industry and the regulation industry is one business i will absolutely put to an end day one. [applause] in 2015 alone, federal agencies issued over 3,300 final rules and regulations, up from 2,400 the prior year. every year, overregulation costs our economy $2 trillion a year and reduces household wealth by lmost $15,000. i propose a moratorium on new federal regulations that are not
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compelled by congress or public safety. and i will eliminate all needless and job-killing regulations on the books, and there are plenty of them. [applause] this includes eliminating some of our most intrusive regulations, like the watt orse the u.s. rule, and it means scrapping the e.p.a.'s so-called clean power plan, which the government itself estimates will ost $7.2 billion a year. this obama-clinton directive will shut down most if not all coal-powered electricity plants. all over the country, they are shutting down. remember what hillary clinton said. she wants to shut down the miners, just like she wants to shut down the steel mills and steelworkers and we're not going o let that happen.
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[applause] we're going to put our great miners and steelworkers back to work. energy reform is central to our plan as well. according to heritage foundation, by 2030, president obama's energy restrictions will eliminate half a million manufacturing jobs, reduce economic output by $2.5 trillion and reduce incomes by $7,000 per person. and today, you have workers, and i see them all the time and i meet them all the time and they are part of this massive group of people that have just come on to this movement. but you have workers making less money today than they made 18 years ago in real wages. they are working much harder ftentimes because of the disastrous obamacare that we are going to repeal and replace. oftentimes, they're working two jobs. so they are working harder, they're older and they're making less, like me. i'm working harder than i ever
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worked also. but these are minor, nobody cares about that. who cares about that? hillary clinton wants to go even further and her plan could cost the economy $5 trillion. a trump administration will lift restrictions on all sources of merican energy production. according to the institute for american energy resources, this will increase the g.d.p. by more han $100 billion annually. add over 500,000 new jobs annually. increase annual wages by more than $30 billion over the next seven years. increase federal, state, local tax revenues by almost $6 trillion over four decades. increase total economic activity by more than $20 trillion over a
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40-year period. in addition, we will streamline the permitting process to all energy infrastructure projects which are desperately needed, including the billions of dollars in projects held up by president obama currently being held up. they just won't approve anything. creating countless more jobs in the process. finally comes trade. the foundation for everything. america's annual trade deficit with the world is now almost $800 billion a year. who are negotiating these deals? anybody in this room negotiating these wonderful deals? think of it, we have a trade deficit of almost $800 billion a year. that's going to change so fast. between world war i and the year 2000, the united states averaged
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a 3.5% growth rate. but after china joined the world trade organization, our average growth rate has been reduced to only 2%. predatory trade practices, product dumping, currency manipulation, which is a big one and intellectual property theft ave taken millions of jobs and trillions of dollars in wealth right out of hour hands, right out of our country. so sad that we allowed this to happen. our incompetent politicians were not watching. and the ones that were watching, were taken care of in some form, because this should have never been allowed to have happened. it is no great secret that many of the special interests funding my opponent's campaign are the same people profitting from these terrible trade deals. they are terrible. terrible for everybody. the same so-called experts
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advising hillary clinton are the same people who gave us nafta. china's entry into the world trade organization, the job-killing trade deal with south korea, another disaster. and now the transpacific partnership that they are pushing so strongly. the verdict is in. all of the special interests that the media raced, which they raced to get comment from have been proven wrong over such a long period of time. every single deal they promoted, every lie and every prediction has crashed. just crashed. they've been so absolutely wrong, and they've been so bad for our country. our manufacturing base has crumbled. communities have been hollowed out. wages have declined. and households are making less today than they were in the year 2000.
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i propose a detailed plan to reform our trade policy and bring vast new jobs and wealth to america. we need our welfare. we don't have wealth. we are a debtor nation. this includes the following steps. i'm going to direct the secretary of commerce to identify every violation of trade agreements that a foreign country is using to harm our country, and our workers. that's what's happening. they're being harmed and our country is being harmed. i will use every tool under american and international law to end these abuses and i will use our greatest business leaders and finest negotiators and i will tell you, some of them are in this room right now, not all of them, but some of them. nd i know who you are.
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and honestly, we're going to be calling on you because we have people negotiating the biggest deals in the world, far bigger than your company deals. your company deals are like ittle deals by comparison. take some of these big companies and look at some of these trade deals, hate to say it but companies are peanuts. but we are going to use our best. right now we have political hacks negotiating the biggest most important por -- most important deals in the world. we are going to start with nafta, which is causing so much damage to our country. we will entirely renegotiate nafta into a deal that will either be a good one for us as a country and our workers, or we will terminate it until a brand new and productive deal can be signed. [applause] we'll also -- and we have to --
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we're going to keep america out of transpacific partnership unless we can do something that's phenomenal and i'm not seeing it right now. i can tell you that. i'm not seeing it. [applause] next, i'm going to instruct my treasury secretary to label china -- i like china, they're my tenant and they buy condos all the time. they're just fine. but you know what? they are a currency manipulator. and we are ging to apply tariffs to any country that devalues its currency to gain an unfair advantage over the united states. they are a manipulator, grand laster level. we can't -- grand master level. we can't allow it to happen. how are people and our representatives and politicians, don't have even a little clue as to how to play the game.
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we have a trade deficit this year with china of approximately $500 billion. what kind of a deal is that? and this has been going on for years. $200 billion, $300 billion, $400 billion for years. i'm going to instruct the united states trade representative to bring trade cases against china. china's unfair subsidy behavior is prohibited by the terms of its entrance into the w.t.o. and i intend to enforce the rules. and i'm sure we'll make a deal somewhere along the way. but they're not playing fairly and our politicians don't understand how to play the game. [applause] if china does not stop its illegal activities including theft of american trade secrets and intellectual properties, i
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will apply countervailing duties until china ceases and desists. you know what that means? a single action of enforcing intellectual property rules alone would add millions of new american jobs. according to the united states' international trade commission, improved protection of america's -- think of this. improved protection of america's intellectual property in china would add two million jobs a year within the united states every single year. and we do nothing. we allow them to get away with it. who can blame them? i don't blame them at all. if you can get away with it, get away wit. we are going to stop the outflow of jobs from our country and open a new highway of jobs back nto our country. here's how the plan adds up.
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we are proposing a $4.4 trillion tax cut that will score as a $2.6 trillion under dynamic growth models, which is how taxes should be scored. [applause] this includes the child care plan that we announced the other day. our economic team has further modeled that the growth induced based from trade, energy and regulation reform will shave another $1.8 trillion off of the remaining debt. that leaves around $800 billion. this money can all be saved through simple, commonsense reforms. if we just save one penny of each federal dollar spent on nondefense and nonentitlement programs, we could save almost $1 trillion over the next decade.
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one penny. we can all do that. [applause] mr. trump: save over a trillion. again this is spending that does not touch defense, because we have to buildup our military, which is so terribly depleted and that does not touch entitlements. if our plan exceeds the $3.5% 10-year growth average that our jobs proposed will actually reduce and start really strongly educing the deficit. savings will be compounded by the fact that people who are currently receiving unemployment or welfare will finally be able to find jobs. this is the most pro-growth, pro--jobs, pro-families' lan. perhaps in the history of our country. this is what our new future will look like. i'm going to low you are your
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taxes very, very substantially. i'm going to get rid of massive amounts of unnecessary regulation. all of these regulations on your business and in your life, i'm going to unleash america's energy. i'm going to repeal and replace obamacare. i'm going to appoint justices of the supreme court who will follow the constitution. [applause] i'm going to rebuild our depleted military and take care of our vets who are treat sod badly. [applause] in many cases, our vets are treated not nearly as well as people who come into our country illegally. we can't have that. i'm going to save your second amendment, which is under siege. i'm going to stop illegal immigration and drugs from pouring into our country and
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totally poisoning our youth and others. [applause] a tremendous problem. and yes, we will build the wall. the wall will be built. and just in case you are worried about who is going to pay for it, mexico will pay for it. being totally serious about that. mexico will pay for it. and you understand, mexico, by the way, will look at the trade deficit we have with mexico, it's massive. the wall is peanuts compared to what we're talking about. exico will pay for the wall. and i'm going to renegotiate our disastrous trade deals especially nafta and we will only make great trade deals that put the american worker first and put the american worker back to work. [applause] that includes our miners and steelworkers. they're going back to work. we will rebuild our roads, our bridges, our tunnels, our
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highways, our airports, schools, hospitals. we'll rebuild everything. american cars will travel the world. americans planes will soar the skies. and american ships will patrol the seas. american steel will send new skyscrapers into the clouds. american hands will rebuild this nation. and america's energy harvested from american sources will power this nation. american workers will be hired to do the jobs. we will put new american metal and new american steel into the spine of this country. jobs will return. incomes will rise. new factories will come rushing back to our shores. we will make america wealthy again. we will make america strong again.
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and we will make america great again. thank you very much. god bless you. thank you. thank you very much. [applause] thank you. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2016] >> thank you, sir. we will now move to our fireside chat format, where we're pleased to have as our interviewer john paulsen, a member of the economic club of new york board, and president of paulsen company. we would also like to thank those members who took the time
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to share their thoughts and ideas on topics and questions from mr. -- for mr. paulsen online so that they could be perhaps used in this conversation. i think we also had some members of the board and others provide some input directly to mr. paulsen so thank everyone for that. the chairs, i think, are ready, gentlemen. please take your seats and let he conversation begin. [applause] mr. trump: what happened with the teleprompter? he's a little late, right? i had nothing to to with it. mr. paulsen: first let me thank you for speaking with us today. i think many of us found your economic plan very bold and
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ambitious. mr. trump: thank you. mr. paulsen: i was talking with marty feld steen -- excuse me, with glen hubbard, dean of columbia's business school. and we're talking about how many economists have resigned themselves to low growth, 1.5% or 2% range for the u.s. you believe with your economic policies we can grow 3.5% plus. could you summarize the key components of that plan and if possible quantify the contribution to the increased growth? mr. trump: certainly, i think that i watch the world and i look at china and other countries and if china goes down with g.d.p. to 7% or even 8%, it's likely to have a revolution. what do they do? they start devaluing, do
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valuing, they get it back on track one way or the other. i've had friends come to me that have been devastated, people that are manufacturers, good manufacturers, very successful people. but they become less and less successful because they can't beat the system. in this way too, it's a rigged system. and they almost do well and then boom, a massive devaluation in china or other countries and there are plenty of other countries out there, some are actually hurting china now. but the fact is, when they have 7% and you see it, they start dropping to 7% or 8% and they consider that to be a disaster, yet we're stuck at 1%, probably the real number is 1% but certainly no more than 2%. and then you try to learn to live with it. we can't do that anymore. so we're going to unleash tremendous opportunity, we're bringing back the trillions of dollars that come into this
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country. i said in my remarks that brings a lot of companies back. they leave not because taxes are too high but they leave to get their money. we're going to unleash a lot with the regulations. the thing that most surprised me in going around, because i've been to, i mean, i've been everywhere. i have been working, this started on june 16, who knew this was going to happen, right? but it started on june 16 and it's been amazing thing. but what's really amazing from a business standpoint, i speak to big businesses, the biggest businesses in the world and i also speak to the small business people and the farmers and -- if they had their choice between this massive tax cut from 35% down to 15% or regulation relief, they would take, almost 100% of the time, regulation relief. the regulations are a disaster. they're killing people. they're killing the farmers. they're kill thinking energy folks. they've killed the mines. and you know, we need
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regulations for safety, for environment, for certain reasons but it's gone so crazy, it's gotten so excessive. but they would take that over taxes. so we're going to unleash a tremendous number of jobs coming in, plus growth, cutting waste, fraud, and abuse. think of that word waste. if the penny plan, just a penny out of every dollar. i know you can do that. but we have to appoint people to head these massive agencies. if they were companies, they would be very large companies and some would be bigger than any other companies. but you you take a penny, a penny off the dollar and do that for a number of years and all of a sudden, great things start to happen. in addition to that, we spend a tremendous amount of military, which we are going to increase. but we also defend other countries. and those coie

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