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May 23, 2024
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the gentleman on the right of the screen is peter morici. what does an economist make of these handouts? does anybody win? >> the people who get the forgiveness but the system gets worse and worse, these colleges know they can charge whatever they want, the way president biden is structuring student loans and forgiveness essentially most people won't have to pay them back, what he wants to do would cost half $1 trillion, continues this system of promiscuity towards the colleges that permits them to print money because people have to print money to forgive these loans. stuart: a new poll shows nearly three in 5 of us americans believe we are in a recession and they blame biden. what do you think? are we in a recession? >> i don't think we are in a recession but i understand why people feel that way. president biden has spent $3 trillion by printing money, none of it in taxes. that affect all of us in higher prices, 20%. if you are the one out of 20 the get student forgiveness, there was a farmer that had his entire solar program, but his sola
the gentleman on the right of the screen is peter morici. what does an economist make of these handouts? does anybody win? >> the people who get the forgiveness but the system gets worse and worse, these colleges know they can charge whatever they want, the way president biden is structuring student loans and forgiveness essentially most people won't have to pay them back, what he wants to do would cost half $1 trillion, continues this system of promiscuity towards the colleges that...
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May 28, 2024
05/24
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university of maryland economist, peter morici. peter so where do taxes need to go? >> basically we're running a huge budget deficit and it is about to get a lot larger. over the next 15 months the tax cut and recovery act of, president trump expires. charles: right. >> and the budget projections are based on that expiration. if we renew that, all of sudden we're looking at deficits 7% of gdp. at that point, we have to ask yourselves, are we really willing to cut the social safety net? even when the republicans were in charge, when they had both houses of congress, donald trump was president, mitch mcconnell was trying like heck to push through the senate some sort of adjustments in entitlements he could not. i'm operating on the assumption americans want all the entitlements. if you look at taxes we pay, we have a european style safety net, what the europeans pay, we pay a lot less taxes. 7% budget deficit would mean that essentially, you know, we're going to be borrowing, paying more interest on debt than we pay for defense. charles: peter, i'm with you there, i un
university of maryland economist, peter morici. peter so where do taxes need to go? >> basically we're running a huge budget deficit and it is about to get a lot larger. over the next 15 months the tax cut and recovery act of, president trump expires. charles: right. >> and the budget projections are based on that expiration. if we renew that, all of sudden we're looking at deficits 7% of gdp. at that point, we have to ask yourselves, are we really willing to cut the social safety...
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May 15, 2024
05/24
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peter morici's with us now. inflation 3.4% at the consumer level, what does that say about the state of the economy? >> well, it's consistent with consumer expectationses. you know, according to the michigan survey consumers say about 3.5% going forward. fed chairman powell if says expectations are anchored. for a long time, i've said they've been anchored but not at 2. the trade-off between inflation and slower growth is not as benign as he thought. if we looked at retail sales which came out today, they were very, very tame. consumers are pulling in their horns. the problem is in order to get to 2%, he's not going to get by with taking the economy down to 1 growth or half a percent growth. he's going to have to take a hit in terms of unemployment. that probably means the conversation should be shifting. as problematic as this may be in an election year, when do we lower interest rates to are we going to have to raise them further. if you look at how high inflation went relative to how much he raised are intere
peter morici's with us now. inflation 3.4% at the consumer level, what does that say about the state of the economy? >> well, it's consistent with consumer expectationses. you know, according to the michigan survey consumers say about 3.5% going forward. fed chairman powell if says expectations are anchored. for a long time, i've said they've been anchored but not at 2. the trade-off between inflation and slower growth is not as benign as he thought. if we looked at retail sales which...
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peter morici will respond to the president's bold claim. peter is next. spring into savings this moving season with pods. save up to 25% now on moving and storage... and see why pods has been trusted with over 6 million moves. but don't wait, save up to 25% now. visit pods.com today. this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. stuart: not much on the market this morning, the dow is up 150. fractional gain for the s&p and a small loss for the nasdaq. david barneson with his pics, gilead sciences. >> i'm in a bit of a fight with gilead, why promoting a company we are in a fight with? that's why i was in a fight with them
peter morici will respond to the president's bold claim. peter is next. spring into savings this moving season with pods. save up to 25% now on moving and storage... and see why pods has been trusted with over 6 million moves. but don't wait, save up to 25% now. visit pods.com today. this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with...
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May 30, 2024
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if peter morici deals with that. peter's next. ♪ the good old days, the honest man -- ♪ if restless heart, the fronted land. ♪ the subtle kiss no one sees ♪ over 400,000 people with afib have left blood thinners behind with watchman. a safe, one—time implant that reduces stroke risk and bleeding worry, for life. watchman. it's one time, for a lifetime. [thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the...