tv Washington Journal Stephen Moore CSPAN November 24, 2018 12:00am-12:32am EST
of the nation. students eeted civics brainstorm ideas. gary hoskins has two students recognized for their projects in recent years. i think he is going for a trifecta. indiana senator todd young tweeted visited fisher high school today to speak with their government class. , project-based learning at its finest. check it out. this year, we are asking middle and high school students to produce six minute documentaries answer the question, what does it mean to be american customer we are awarding -- to the american customer --?
for more information, go to studentcam.org. viewers are familiar with stephen moore. stephen moore, what is -- guest: hope you had a great thanksgiving. 2.5 yearshis book ago. larry kudlow who is now the chief economist for donald trump -- host: appeared in your book? guest: right when the campaign was getting going. there were 15 republicans running for president or something like that, and i think i knew 14 out of the 15, donald
trump, we met with him and talked about economics, the four of us, and it was an amazing meeting. after that, he asked us to be his steering economic advisers and he is a hard guy to say no to. he is a very different person in private than in public. i felt them to be charming, very wise and insightful. it was really fun working on that campaign the donald trump and we helped to write the tax plan another regulation policies. basically what trump win it's is nimcssically, what trumpo nots that donald trump is ideological. donald trump does not see the world in that way he is just a
businessman wanting to bring business principles to washington. --thought that americans keep up at the economy could do better and i was attracted to that. that is the essence of trumponimcs. bringing pro-america policies to washington to rebuild the economy. host: what economic principles is trump a number including -- trumponimcs including. cutting taxes and reducing regulation, those are core republican principles. the big one that trump is having, trump ran more as a blue-collar democrat, trade protectionist than free-trade. , i remember meeting donaldaid, we called him
back then, we said we cannot work for free trade in your for protectionism. i never forgot what he did. he got angry with us and said, i believe the importance of iternational trading, but wanted level playing field and make sure these other countries are playing by the rules and not taking advantage of us. so, we kind of agreed to disagree on that issue. trade is a big part of his agenda and we have a major trade fight with china that people asked me, why is it that the market are so ruined by it? in no small part, it is a part of the trade dispute with china. host: are you concerned that is what disrupts the market in the future? guest: sure, it is a risky and dangerous strategy. this is one area where trump means something about economics.
when i started looking at the evidence, there are some things to what trump was saying that we lowered our doubt tariffs quite a bit -- we lowered our tariffs quite a bit, but other countries have not. we have opened up our markets. by the way, i found the biggest cheater on the planet is china. china is not playing by the rules and trump has avery -- and trump has a very solid case about their trade practices and the steel a lot of our intellectual -- and they steal a lot of our intellectual property and copyrights. ande are many apple stores china -- stores in china that china --ctually own by that are not actually owned by apple.
are you less of a free trader and 2018? guest: good question. in a sense, some of my free-market friends are for what they call unilateral free-trade. we should open up our markets to any country that wants to trade with us regardless of their own trading practices. i believe we can do better than that. we should demand that china play by the rules. this is the big issue for the world economy is whether the u.s. or china will be the economic superpower. i want to make sure it is the united states and not china and they should end their abusive trade practices. and trump said the other day, i am using these tariffs as a negotiating tool to get these other countries to reduce their tariffs as well. host: chop anonymous is our topic -- trump won nymex --
trumponims is our topic. as folks are calling in, you mentioned your involvement in the tax cuts. this was chuck schumer after the election. [video clip] biaspublicans drew up a tax plan. but we democrats were unified in opposition and he made a clear day after day, after day, after day that the republicans is the party that stands for the rich and for the above the special interests. and we were the party on the side of the middle class and those struggling to get there. republicans predicted the tax bill would save their party and lead to an enormous victories in the midterms. turns out they were afraid to talk about it in the most out of their campaigns, they did not mention it.
that is because it was so unpopular. and i believe there is a change. for 30 years, the powerful wealthy few that dictated tax policies on the republican side and cut the taxes of the rich, that is over. i think our message, our focus has put a knife through the heart of that argument. you will not see the republicans doing that anymore. what they did to was explode the result, people selfish,t was dangerous, and are responsible. guest: there is a lot there, isn't there? look, i happen to think the tax thatwas really the trigger really erupted this economy. we now have the strongest economy we have had in 30 years and the result are phenomenal. we have 7 million more jobs and people to fill them you know all
of the statistics. we had the lowest unemployment rate, the lowest black and hispanic unemployment rate, the lowest asian unemployment rate the lowest female unemployment rate. these are amazing numbers. i travel all over the country. everywhere from portland, oregon to portland, maine. everywhere you go, all you see are construction cranes in the sky. you see new factories and warehouses being built. new condominiums, housing, it is a phenomenal economy. i saw the president of the other day, and i was joking with him and said, mr. president, this is working better than we thought it would. trump has only been in office for two years and we have economy growing 3.5% to 4%, so we feel really good for americans.
by the way, i love the report and this idea this was a tax cut for the rich people. foundatione heritage where i work, we did a report on how this is effecting the average family. if you are making between $50,000 and $70,000 a year, you can get $2000 off your taxes. $2000 tax an extra cut, i don't care what nancy pelosi says, that is not crumbs. people real money for for them to pay their tuition, take a vacation. we feel it was a great triumph. one other thing -- every conversation we have a donald trump about this, every time we talk to talk him he always says, i want to make sure this benefits working-class americans. the steelworkers in pennsylvania and the coal miners in charleston west virginia, and the auto workers in places like
michigan, and so far, so good. it is -- it has created jobs and we're seeing wage increases for middle-class americans. host: a lot of phone calls. dave in new york, democrat, go ahead. caller: real quick. i wanted totion is talk about the trade deal. cut, eating cut any government spending -- it did not cut any government spending. it is kind of a wash, i would say, and that in inflation. going back to the trade deal, we lost all of our industry. finance is the business of debt,
right? we are in $22 trillion of debt and our main export is $3asuries, and china buys trillion worth of our treasuries. how would you calculate that into the budget deficit, the trade deficit, excuse me? guest: it is a great point. the point about government spending, i have been supercritical of republicans of these big budgets. i think everybody can agree that they government in washington, d.c. is way too big and we are spending way too much money across the board. are republicans critical that the president, too? guest: sure. i said that he should have the toad that big -- he should have
vetoed the big spending bill and i think he regrets not be telling it. democrats want to spend more money on social programs. i am for a strong, national defense, but i live two miles from the pentagon. the president has called for every agency next year to cut 5% out of their budget and i love that idea. ande is so much waste duplication in this town of washington. on the issue of trade, look, if trump can get this trade deal with china, and really the ball is in asia's court right now. but if he can get china to agree to open up their markets and not stealing our technology, and he , is the trade war to end
think the stock market will explode. it is bringing back the factories to the united states. we already got a good deal with mexico and canada, as you covered here on c-span. we will have a big vote on that and if couple of months and no one knows how that will turnout, but i feel better about the trade situation today than i did six months ago. host: you mentioned pentagon bureaucracy. on monday, there are efforts to audit the department. tune in, and peter is waiting in new york. thank you for waiting, peter. caller: thank you very much, john. stephen, imake -- wanted to address the difference between the republican agenda, the democrat agenda and the president's agenda. the president and the republicans are on the same page as far as taxes. i what the president is trying to
do is limit the flood of cheap labor, even though he does accentuate the crime aspect of having 30,000 people a month coming into the country. that affects working-class people. i understand they want the cheap labor. jobs are being taken even though we are creating jobs. that is going on. i would appreciate it if you would address that. there's a lot there on that. we didn't talk about
immigration. by would say i agree with trump on 80% of things. immigrants-- legal that come in legally and i think there is consensus that it should be a legal and orderly process. immigrants helped build the country. they continue to do so. hard,e immigrants working helping to build the country. i think the democrats on this issue are out to lunch. ont is the democrat position stopping illegal immigration. their position is catch and release. sanctuary cities and sanctuary get rid of the border patrol in the ice agents. that's a reduce of that
ridiculous policy. that's not an orderly process. i mentioned that we have 7 million more jobs, if we are going to keep this economic growth up, i think we need more legal immigrants. if you're going to build the wall, make sure it has big gates so people can come in legally. good morning. thank you for taking my call. the comment of the first caller were already addressed. economist, but i can see it's simple, give everybody what they want and stick it on the credit card. congressentatives in are republicans.
their town hall meetings and they were hammering about the deficit and debt. now you care nothing about that from them. trump was asident businessman. what businessman doesn't recognize the effect of deficit and debt? guest: it's a great point and i get asked that often. larry the first meetings kudlow and i had it, we showed the projections of what should happen to the debt. those are scary numbers. you show them on c-span a lot. our going to go to 150% of gdp. those numbers are so grim is because everybody are forecasting its own what going to grow 1.9%. badhat happens, we are in
shape. we have 80 million baby boomers retiring and collecting benefits. they are not working any longer. do ifrst day you have to you're going to get the debt under control, we've got to get the growth rate up to 3.5%. growth, people , everyoneback to work percentage point gives you $3 trillion more revenue. if you can start to stabilize starts to fall as a percent of gdp. i think we are on a better course right now. a lot of my liberal friends are complaining about the debt under
trump. let's review the facts. when barack obama entered office, the deficit was $10 trillion. barack obama added $10 trillion to the national debt. we inherited a physical mess. we've got to get the growth. if you get more people working, you get more taxes. republicans fumbled the ball on controlling government spending. national debt is at $21 trillion. getting deficits under $1 trillion? guest: the most important thing is making sure the economy is growing faster than the debt. the debt is basically stabilize. if we keep this high growth rate
growth will see more rate. mentioned debt and trump being a businessman, if you are a businessman, debt isn't necessarily a bad thing. you borrow to build the building, to build a business. it matters a lot what you are borrowing a four. we've borrow to finance a tax cut that would help businesses and bring jobs back to the united states. the tax cut has been a success. host: do you think there should be another tax cut? guest: we need to make sure this tax cut stays in place. it do you think it's just a sugar fix in the economy, there is concern about the economy because the stock market -- no, this is just kicking in.
raiseieve the best way to the wages for middle-class was to make american businesses more successful so they could hire more workers. i was walking down the street and a woman grabbed me by the shoulder and said are you the guy i see on tv? i didn't know what she was going to say. just got a $1500 bonus from my employer. the tax cut for middle-class workers has worked very well. host: good morning. about: when you talk equally participating, i don't understand. not equal.es are
nearu can't have anywhere equal participation among the countries themselves. basically the way trump thinks about it is business. business is not what the country is about. government is not business. business is entirely different from what governing is. certainly, governments have to thougherned with helping wealthiest for the not so wealthiest or even people with jobs. now, i feel ast though the economic is such that we are all going to be an
working for hire people because if you are not born with certain privileges, if you are not born with the education, or knowing the right people, how in the world are you going to not be an aunt? guest: let's address the issue. that's absolutely true, government is not a business. why is government so inefficient? thinksrage american about $.25 of every dollar is wasted. government is extremely wasteful. we have a system, look at the condition of our schools and infrastructure. it's reprehensible how much money we spend and yet the
meager results we get. andre here in washington dc our schools spend $20,000 per student. the schools are in deplorable conditions. most americans would like to see more business principles brought to washington so the government does run with the efficiency of a business. we see it every day. host: we've got about five minutes left with stephen moore. we are taking your phone calls. go ahead. caller: hello, good morning. i have three questions and a content. free-trade equals free and fair trade. the war through trade with china , why do we do business with them? why are we not opening up more markets to eastern europe?
level, the cost of fuel and food is the main thing. the federal reserve -- host: we've only got five minutes. we've taken this abusive treatment from china for a long time. they are not playing by the rules. we are finally standing up to beijing. they are moving in the wrong direction in terms of imposing high restrictions. i talk to men and women who run countries and they say it's almost impossible to do business in china. that can't continue. i like what trump said about the trade work, -- he said china started the trade war 10 years ago.
hopefully this will have a happy outcome. notof the things we did talk about is promoting american energy. we have more oil and gas and coal. we should be using it. i think that's crazy. there.s shale and jobs i was in texas where we have the permian basin. we are producing more oil there isn't any place in the world. independenting more through the shale revolution. that's creating a lot of jobs. host: miami, florida. good morning. caller: a quick observation.
this gentleman is talking about the democrats because of the voting. the republicans just want them for cheap labor. people are fleeing and they are looking to live somewhere to get away from the things going on in central america. another quick observation about regulations, a lot of the jobs are going abroad. western capitalism is running the world. guest: china is not really a capitalist country. we wanted china to keep moving toward freedom.
we wanted to see this march toward freedom. it ended seven or eight years ago. think it's the i biggest issue why donald trump won the election. people are tired about washington not doing anything. that's the backbone of what america is about. it has to be legal. what are the democrats doing to restrict illegal immigration? people are sick of it. trump said we are going to secure the border and make sure we know who is coming into this country. if we can expand legal immigration, it's great for america. moore, one of the co-authors on the
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