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tv   Public Affairs Events  CSPAN  May 28, 2021 1:26pm-1:57pm EDT

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the rain and freezing cold as speeding trains raced by. it was that work and conditions that built a strong bond among the crew as they gather to receive their daily assignments just after sunrise in the maintenance building on bens morning. they more thick blue uniforms to protect themselves from the arc flash, a high folettage shot that would melt their skin. but nothing could protect them from the danger on
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-- some late -- this will be tied to reconciliation. if the house and senate could pass identical billet can pass legislation with a meaningful connection to the budget with a simple majority in the senate rather than the 60 votes most bills need. that means they can pass legislation without gop support as they did with the one point $9 trillion covid relief package back in march which was tied to the fiscal year 2021 budget. to join in on the conversation, if you like the approach of the biden administration call the number and if no, the other.
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the president was in ohio yesterday reviewing the budget that will be released today officially. here's more with president biden. [video clip] present biden: our republican friends in congress, not a single one voted for a rescue plan. i want to embarrass anyone, but i have a list. back in their districts, they are bragging about the rescue plan. they tout it the restaurant revitalization fund. the fact that we are in a situation where we are giving grants to community health care centers. some people have no shame. but i'm happy. i'm happy they know that it benefited their constituents. that's ok with me. but if you're going to try to take credit for what you have done, don't get in the way of
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what we still need to do. the bottom line is this, the biden economic plan is working. we have record job creation. we are seeing record economic growth. there is a new paradigm. one that rewards work and the working people in this nation. not just those at the top. they did a study, 85% of my jobs plan -- 95% of the jobs plan, you don't need a bachelors degree. 75% don't even need a degree at a community college. but guess what? the bottom line is, people are going back to work. there's a new bargain. everybody will be in on the deal this time. now is the economy recovers there will be some bumps in the road. of course there will be.
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you can't reboot a global economy they're going to be ups and downs in jobs and economic reports. there will be supply chain issues, price distortions on the way back to the stable and steady growth. in the coming weeks, my administration will take steps to combat the supply pressures starting with construction materials and transportation bottlenecks and computer chips. we are also announcing new initiatives to combat practices that hurt small businesses and families. that can help build a more dynamic innovative economy and we will have a lot more to say about that in the days ahead. this is already clear. we are on the right track.
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it includes 1.5 trillion dollars in discretionary spending. the president's budget would project deficits above $1 trillion for the rest of this decade. growth estimated at 5% in the economy and 4.3% growth next year. some twitter comments. one of you are saying it is utterly crippled by his devotion to liberalism. refusing to talk about single-payer health care once again focusing on production side economics instead of consumer side economics adding that the free market does not work. another saying it's as good as it can without much help from the republican senate.
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a gallup poll found that 78% of americans had personal worry about the national debt. bidens budget has the highest debt gdp ratio in american history. let's get to your comments on the president's approach to the economy. we are dividing our phone lines. if we can be evenhanded and here the other side on c-span, we will all be a lot better off and
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hopefully people are to appreciate with the other side has to do. infrastructure, jobs, taxing people that earn more than $400,000 per year, think i called a couple of months ago and says i make sometimes between 30 and $50,000 per year and i'm happy. i keep my bills simple, my car is simple, my life is simple. when you have people earning $400,000 or $4 million or $40 million and we have poor people like myself, although i'm not worried about the rich, but a lot of people who make $50,000 a year are worried about people making $4 million a year. they're worried about their taxes? people have throwaway money when you are in the upper echelon. i know some of them and i'm not there. those people have throwaway money. the taxes used to be higher in
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the united states. we used to have balanced budgets, we used to do better. not completely balanced, but it got pretty close under clinton. i am not a communist, i'm not a socialist. i love working, love capitalism. you have to tax people, you have to put jobs out there. we should also start to pay attention to the deficit and the debt. i am one of those guys, i never liked it. i have changed about people coming across the border. those are wonderful people, they work harder than we do. they are honest, they do good jobs. they are not awful people. when trump came down the escalator and said bad things about people coming across the border, people that come across the border are working hard doing an honest days work. wonderful people. iq for the show. -- thank you for the show. >> another text message.
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the biden plan will work, america wants it and this is his wanted. let's get going. you can send us a text message. here is this from a viewer in california. biden is trying to buy his way out of a horrible economy only making it worse. taxes going up, inflation highest, gas over four dollars. prices are soaring, houses selling way over listing prices. the national debt and china's dominance over us will prevail. this from the new york times. the president detailing his plan today. the $6 trillion debt -- budget to make the u.s. more competitive. the levels of taxation and spending in the plans would expand the federal fiscal footprint to levels rarely seen in the postwar era to fund investments that his administration says are crucial to keeping america competitive.
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under mr. biden's proposal, the federal budget deficit would hit $1.8 trillion in 2022 even as the economy rebounds from the pandemic recession to grow to what the administration predicts would be the fastest annual pace since the early 1980's. the deficit would recede slightly for growing again. even if interest rates stay low, payments on the national debt would consume an increased share of the federal budget net interest payments would double, the share of the economy from 2022 to 2031. back to your phone calls. rob is joining us from new york. good morning. >> good morning. i see this country going down the toilet. i don't think joe biden's plan is going to help at all. he got the record amount of money for the military. he's got all of this discretionary spending and he
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wants a trillion dollars per year more deficit? we can't afford that. it's time to balance the budget, balance the books, and if you can't pay for it, don't get it. >> this is from tim in ohio. he spends too much money on some things and not enough on others. from indiana, howard joining us. the biden approach to the economy. >> i think by approach is definitely the right approach. we should invest far more in education and single-payer health care system. regional technology. we have to include a large education component in rolling out his budget profile, because there is a huge misunderstanding among the general public about how the economy operates. we have a sovereign fiat currency and the government does
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not need to raise money to spend money. need to spend money to invest in the economy. the economy will circulate through multiple times and generate growth. one of the things that biden has mentioned as a thrust of his strategy is to focus on productive investments. those productive investments in putting people to work. people who are working spend, invest, they have a better quality of life. when each understand how the economy works. budget deficits, they don't mean anything. debt and deficits for sovereign fiat currency don't mean what people think they meet. people look at our federal budget and think it operates like our household budget and that's incorrect. it does not. >> let's put the numbers on the screen. the nations debt, which has increased significantly under
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president trump now under president biden is now in excess of $28 trillion. that averages out to $225,000 per taxpayer. why do you say these numbers don't matter? >> it assumes that in order for the federal government, which is the issuer of the currency, has to raise money in order to spend. that is incorrect. the federal government does not need to raise money. they just need to ensure that when we do expend money, that they are for productive growth reasons. that will generate economic activity in the economy, which will enable us to make the investments we need to. taxes are intended to take money out of the economy to control inflation. that's all that the taxes are for. >> another writer says yes it's
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working the stimulus his head up beneficial effect. the presidents work will result in a surge in employment and good jobs. next up, you say no that approach is not working. why not? >> joe biden does not have a clue how to run this economy. this man has done nothing since being in office. he has misspoken, he said he created 500,000 new jobs. no, he has not created one single job at all. this man does not have a clue. jobs are leaving the state of ohio and northern ohio, they have gone down to mexico. the stimulus package was way overdone. i just traveled to florida by car. they are looking for people to work. they can't get them. this economy, donald trump had
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this economy roaring before covid. joe biden is not going to do anything for this economy but spend. all this money that he wants is all going to go to pork. we all know that. our gas prices are going through the roof. our food prices are going through the roof. inflation is running wild right now. it is sad. he claims he is going to tax the rich. all of his celebrity friends in california are all going to stand in line to pay more taxes, no way in the world that's ever going to happen. >> thank you for the call. this is from twitter saying president biden's approach on anything could improve the u.s. if the gop would stop their obstruction. more from your calls. good morning. >> i am all for what he is
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doing. one of your callers said something about they are trying to get jobs down in florida. what is the minimum wage down there? the minimum wage needs to be brought up to a decent living wage. as far as the wealthy and the corporations paying, look at what trump did. that's all he gave to. we need to take everything that he did back and put it toward the economy, we need roads, bridges, everything. for them to think that it's ridiculous. i wouldn't live in a state that had a men room wage of seven dollars per hour -- that had minimum wage of seven dollars per hour. why don't they believe in unions?
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>> another text message. we appreciate that. john says getting tax breaks to the corporations and super wealthy is what will take us into oblivion. in an exchange for their appropriations committee member, the issue of inflation one of the hearings that we covered yesterday it is available on our website. here is that exchange. >> if inflation isn't just transitory, the fed has several tools. the tools are all very painful. the fed could raise interest rates. we could cut spending. if we have an interest rate, you mentioned one of the benefits right now and one of the things that concerns people about that is we are paying such a low interest rate. we anticipate that will not be
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the case forever. i wish you talk through the tools the treasury has and what would be the implications, what would be the impact of those tools on the american people. >> with some of the recent inflation we have seen over the last couple of months has to do with bottlenecks and supply shortages. those are things we are trying to deal with in the federal government. the core responsibility for controlling inflation over time lives with the federal reserve. short-term interest rates are at near zero levels. the projections indicate that a more normal level that they think will prevail in the long run is around 2.5%.
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the low level by historical standards. most market disciplines anticipate that -- most market participate indicate that as we get back to full employment conditions, eventually it will become appropriate for short-term interest rates to rise. the budget will be presenting tomorrow also assumes that over time, interest rates will revert to low but more normal levels than we have now. >> that is from yesterday's hearing. treasury secretary janet yellen for a house committee. the question we are asking is whether or not you approve or disapprove of the approach that this white house is taking to the u.s. economy. this is a headline from the associated press. social spending and business tax
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hike driving the president's $6 trillion budget. this text message saying you're kidding? biden's economy will destroy this country. it will not work. gregory is next from maryland. good morning. >> thank you very much. compared to the last president, this is my guy, he is doing a heck of a lot more in a little bit of time that the last president would have taken 10 years to figure out. do you know what i mean? >> thank you for the call. now to jim in pennsylvania. >> thank you for taking my call. i don't approve of esther biden's plan.
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-- mr. biden's plan. my question, these last stimulus that we needed, i am curious why isn't all that money spent? wire they holding money back for the last stimulus and creating more stimulus? another thing is, we all know that corporations write off their taxes. it's a business expense. i have a suggestion. if he wants to help this country out, take the cap off of social security so everybody can pay to help everybody else. this taxing the corporations has been a smokescreen for many years. it doesn't work. they write the taxes off and the working people pay for it anyway. look at the price of things.
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these corporations are reaping the benefits right now. everything is skyhigh. they are already making their money back. mr. biden, take the cap off of social security so they cannot deduct that from their income. everybody pays to help everybody else. >> this from arizona. a few months ago, we were complaining that the economy was stagnant. now, the complaint is that economy is too hot resulting in inflation. go to the website, a number of charts looking at the u.s. economy including this one. republicans and democrats don't agree on the economy. those who are thinking economy is getting worse, you can see divided by party.
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again, it is available at 538.com. next from pennsylvania. >> i say yes yes yes to the new infrastructure. these people from ohio are delusional. when they said that biden is losing jobs or ohio is losing jobs because of president biden. that car plant that moved from ohio to mexico happened under trump after he told the american people that he was going to say that plant. i say all to the infrastructure thank you. >> john from new jersey, good morning. >> good morning. i do like most things in the biden plan. what is the biggest problem is the people who think no, they supported reaganomics and it didn't work.
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for almost 40 years, that has been the one thing that has been really destroying deciding all the people are homeless. what biden is trying to do is he's trying to do with the crisis that has been going on since 1981. when he came in in 2009, one thing that did work very well when they were paying for clunkers. >> i'm going to live it there, thank you. another viewer says we will be fine under biden. inside the washington post, the headline biden to propose a $6 billion budget boosting safety net. the economy has improved under
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biden with the unemployment rate falling into growth picking up steam the white house has said much more needs to be done. called for more spending to provide for things like housing, educational programs, and health initiatives. from inside the washington post, a republican congressman with this point. as many of you prepare to travel this weekend, biden becomes president, gas prices hitting a seven-year high. according to aaa, 37 million americans expected to travel this weekend. most will be hitting the road in their cars. about 2.5 million will be hitting the airports for flights. that is a 60% increase from last year during the height of the pandemic. james from new orleans, good morning. how is the economy from your perspective? >> good morning. thanks for having me on your show.
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i hope you can hear me. i am 64 years old. in 1965, i integrated a school system in mississippi. i remember the headlines reading that morning had to stay out of school for two weeks. >> go ahead. cox i had to stay out of school for two weeks until they made a decision as to whether they would let me go into that school. my mother and i had been attending the naacp meetings and that was the first part of our agenda. that morning when the paper came out, i was so happy to see them saying i was the first to integrate that school system.
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i went down the street to my friend's house to celebrate and i thought i was going to be welcomed with that. i went up on the porch to find his mother and his aunt saying it looks like he's white anyway. i still today a grown person 64 years old still feeling that effect in the economy. >> thank you for the call. one of our regular tweeters has this point. when we flew a couple of weeks ago, the planes were packed. the economy is back, thank you president biden. hakeem jeffries, the democrat from new york has this saying we will pass president biden's american jobs plan with or without the obstructionist. again, the senate will gavel and at 9:00 eastern time this morning. it is still to take up two key issues. one is the $250 billion to make
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america more competitive with china. that is being held up by senator ron johnson. telling the news he is upset that a number of his amendments were not included in the package. then, the debate over the january 6 commission. the senate in session until just before 3 a.m. this morning. as lawmakers try to head out of town for the memorial day break. in session live on c-span2. the next caller, good morning. your thoughts about the economy, is the biden approach working? >> good morning, how are you doing? i just want to say to you, i am so glad to see you back. you among all of your commentators give your callers the utmost amount of respect. that is a very good thing. john f. kennedy once said rising tides lift all boats. when i was in vietnam and 65,
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they had one of the worst economies in the world. in 55 years, they have gone to number two in the world economically. what i see is all of our corporations outsourced all of their jobs over there. the american people have to go half a lifetime to pay for education while those people get free education over there. i have seen that country all rail systems, airports, infrastructure is unbelievable. while these greedy people out here outsourced all of our jobs over there then they turn around and say they stole our intellectual property. mr. trump he and his daughter at doing this business in china than they turn around. in eight times in our nations
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history, we have had economic chaos each time under the republican party. i don't know why these people keep giving all the money to the rich people. in this country just falling apart. until we come up with a reasonable solution to the problems we have economically and quit giving our money to the greedy people, we are going to fall. >> thank you for your service during the vietnam war. we appreciate that. this is from gregory saying he thinks he's the greatest president since fdr. republicans think he is too old and doesn't have a clue what he is doing. another half hour of your calls and comments, we are getting your thoughts on the economy on a day in which the president will be revealing his $6 trillion budget plan. >> let me start off with a huge thank you you to our distinguished guests and the airmen and soldiers who are here today for the special event. i would alsoe

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