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atas clelyor sandy, i suppte. the her portiowhh was unear inheead up was seial. have learned, the erican peoe are compassionate people we hp r sists and brothers anwant to make sure eris an accouabitso hard-rn tadollars are spent

apopriately. at t te it seemed like this was clearly indicednd i voted both for sand relief t r accountabili. i ho the packagee t forward s thelf d cotali. know,oucuriouto have dav dukeunning and know there are lf publics in theta and natial frankly who have en dionrt to th lsthis decision tju ith race. what do you thinabt him beg t race? are uoncerned ts is going further ht e pti abity to win novemr? where do y stand se csi: y cnot sp americiten frodog what he or shwies to do, even coicted felon li did de. e other candidatesonmned hi

the louiangoisryg to ma a rule thatonct fens do not have rhto ruas replins in the future. ey are jusmaking se the attorns are ok with i fferdiror pote outwhile i wawein aniform, david de was wearg a set i thk therhas been a divowal. we cannot stopomodfr doing athe wish tdo i this cnt alo aitoes noha ath b o the he hand, fol a tryinto separatehemselves much as poib. >> he id donald trumhas ma this h te to be able tru for the sat and hfes ke this is s momens mped 12 ene ran for governor. are yo cceedhat that kind langue, and th tre are a loofhi supremaci who

have come out t woodwork and e ppting tmp and hi b have eect on the pay th loclynd national io e future? ou cassidy:f can te this is the loescoertion i vead about david duke sie announced his candac lisnait is a non-evt. i caotpe f others. cleay democrats wa tma all a lot t thibuon the heand whe he irunning for offe,e not invedo forums, he is not giering theol, d people do no ta aut him fr mperspeiv it is a non-evt. ltle bit about at is ing to be ing onn washington or e xtew eks. yoarreturning on tuesd a a lot of your colleues whar in cycle this yeaare eager to geba he. whato ueeapnin ptember? you needo evt gornnt utwn.

some peoe want to za ney. -d. anything else happin sen. csidy: we have disasrs across our count. think ere wi be so st of dasterunngacge caavtoe drsed -- ka has to be addressed. puicans voted on aacge didotgr.emra 'm ping wcan overcome o diffens and ss that. we are worngn mental heth bill, the mental health arm af 201 gnifict piecef legiatn and e mpiopie has rey ssed the hse. we are hopinto get ve thn ptember. i know the ianhebill th wldelate to n money we will have ausy september.

cneu s ting to thother saerelf fundg with zika to ma ia global package n.assidy i cld imane thatei t cas all it inlvono cod e bngut into one paage. obouy,e veot been er. ha bn my owntate visitingol a have t en eang with ldership bui spt that will be the cas >> maybe we cod lk littl bimo autolitic naonly bn ghs s usl aighly usual ye. yowere elected in a goodea forepublican as t steseems to yourur ba and forth, w you tnk or, w- yyo back d do y tnkf e heah --

wh dyothink of the health ofhe party? depds:t al ifouooatur governorship an listu, republics e incribly son reeleiofo . thedds arlittlegasts in terms of the mb oseats we hexped think e sse at we he prettyood. the prese's health careaw, obamaar has been vy, emiums are up,nsan compans e isg eir priu a yet ling mon so obama care tends- continues to aead weight on ourcomy. emrationclrly fos e ncneabout i they may not le mr. u's apprchhat n dth for

wherthpridt has been. as belmaha said,f u get s billarr hasai ayo get acros the water y c st. really seems to boil wno mr.ru' psoli n being ateoe ke as posedoome of thessues. thk where the isesre the republicanarwhe ny of t arin op are. we arathe halfway point >> iyolo at former veor jda goverr owacin kansas, he seemto have been a bit ausba of thmo stride cservate sitions on speing and some things states he would noha peed i do not know thatouoriv - peopleuia woulexpect louisia tha a democrat gernor. do you think the mesges bad

or did theyustohard t fa? sen. cassidy youavtoook at it issuby issue. rtnlfolks coullo a johnash d y there is a repuic goverr in a purple state o s ne pretty well. in louisiana whaa nfen of ent oipres fell soratill ana lot of the stateevue mes from tt lri. i n saying that goverr uld not have made me different disns, b when you have theayheitti isoi a t btomrops ouof yourudget and a selar ct, woulde difficul for any governor. sohe govn's answer t thpeople. if theyake a goodecision the parts te them bk. e jotyf the veoripinhe nation show in ger tt e eran op le e y their stes e goverd.

thk the republic bnds always, you veoto work on a make re it remas cuent, b if we looathe goverrsp,hi-- it is quite following. >> hla cnt is leading in e lls right n. thato n wt oncede shis necsalyoi t w, t if she does,hadoou think wainonou lk li? w do you think rubcan housndaybe aepublican senate or democratic sene r thatatter ulbe able to co? se cassidy: i thi it isair toayhathrede ss the nen washingtoanho the pridt has towa ngress, certainly congss has swnut the preside is the onperson who setth te more than an oth. congress ctalyidotar fobi cnt. oerwt ggrh d

made a lotf gnict fos, welfare refm w one. esideneagan mously was od frids with tip'ill. they made que a loof ogressven thghemocrats we vy ste t presidenin general esidenobama has t made atutac john dge oe said presen obama has e innest rodex in whiton, aaethofor peoplehoall foadcer assistan. ifilry clintons ecd esiden iop w fd mm grounds h to prress as thnation. two thinshharently announce i apersonallyakg a point on makinhaen. she has celyome out in voofenl altheform d meioned the rk' doing thhr murph e s asked for aevamp of howe resnd to blic health

erncies. ill andput fth mao bio is cponsorgha would teouowe spd t puicealth emergenes getting dollarwhe ey need wre they are needed more rapidly. shhacome up wi sh a poti as wl. there will bcommon grod. ryan douee speaker hilly inton tting dowan tang sho o whiskey and rkg out appropriions proble? do y think that is a ssibility? sen.assidy ryan are american. he is goingo rk with whev he needs to wk ma somethingapn. cleay erarpoti i thhouse of represeates ich might, as thepeer he represents. is not a dtar. whvethpresident i we in ngress wil wk without presidt for the good of r country.

whe disage,hiev party is, there wilbe teion and wwork out those tensio. rose glse i se it igog wk o, but erha bn evus esen aoness to have fou the way two tother for t bt intest of our cnt. >> while we are talking abt pridtsorking with legislur hryeid suesd demrats rai the senate they shou ris this filibte re d limit ituse. atould it be like to be a memberf theinitin the senate andotava filibter ru? se cassi: if u okt obama ce icrein unpolafoma rsons. priums risin0% in a year. itasonon strictly rtan basis, rtin vot

unlikenyth pcef micd,ur medar vil rhts, in whh erwas strong biptinuprto e lega h bn prominand an dohng in the case -- in ring. the ce baca, i unstnae. it is stotorng. there is wisdom on both sides the aleome of one side nt toayweo ng wh to corose. we are going to d wh ws ateflect oneerson' partisanosiouterhaps not what is bestorheoury as aho. redecessor, yo sit on the appprtions committee. ad mcconll me big push th yr t to gethgs track you have h rately lited suesonhat. n you talkbout tt lile t, anhow do you see titely ttrossrong

itself outeither lat ts year or perhaps in the ne ministration? n.asdy: agog disagr wh at tnkou pris i would y that underear mcconnell, republicansav gott the satba to relaorder. among ththgse veassed the last o year aepl an repcentf uelof , cldeft behind eox sstce controlct done after 40 yea. highwatrsptationill. comprensive addictio revery a. t cp of passing aenl alth bl. we repled obace thgh thpresident veto i wl aasthketo x piline. i veisd veand i coul list five me. in one sense, unr a republan setee veeg to acmpshhisgain. veryosive.

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enf is ishat coelatio and even if yo include o coroller andhawe cl t effect andhe inialontrol theou get isltaty, cofient ofhe correlation r wkiedag rative tommrations out ze. focollegeducated, this is sivendlsigfint is is uet e cal lel athstate region. enf u try are ts

us pntand again it en in constin o te econoes ve tri tisatth immigratio flows just by prerences ofmmras se t yr eyrefer inor -- mority othe greate immigrts wt. n-snificant eect on the we of l sll. in aenth edee altogeth smsoay tt e lave numr are not erto crte an fe ith agege. d t lal lel, the evence tt s en cumulated tt eris ttfft,idulousl litt othwages of l

educated a there may be positi eeconheig edated. 1 mut which wi me into.5 mut, i wi s, ultheree way -- the'a t of mhasmha ha --usiblth way ma psie e ea that imgrioafctpoti weightofate rks. they are n the se pef workers. they take jo tt kes e mongp u eypeale jobs tt e reanl ouoo thatatesreeang. pesay there ia mponen of hpi t pductivy nativeorrsvewhen ty are sila isou be a anl at economistsay would boo was. ean re is e eer sotis e pe of tenogy ey use is bad t wke

th have. when theha aot of mian tto manual js ry wl eyend noto use mo mhazaonndhe te tusthtenologyha or ienves ed makes them increasehe odtity. finay e local lel, mmras nse sond nete a penal hhe riety gds andervices whh e ppliedndhis uld al ba chanl of inea ipructivi. buifneashe forneo li t w iid on a very imrtt posiveffect of imgrio o ito look in hi skill iigti. i shedou. hi skillmmraons a lae and perctustes- rctage tmsarof miatn d erar vel who y it'cria th iigrantare criato

enncg y creasi invationag i willdd a cplofor o th ptilaycice tenogyenneing, and thorr icara ry rgpeengef foren rn emo boosprucvi. if yooathe distribio ofmmras thaf the popution a pplwho go om someollege to op a the wawith houee atmmrants e al coenat ithve hh df ucio hd with a sm gr a immigrant yocacaulate the fes th aumg eris poti produivy ts grp. thro aptbeer technolo a tsroup crses invaon stefri ta peth we wtewealla t

1biswoerue t ireedapf e sa at was ft -- paedn e '90anth whdwnn the 00maybe ese lol prucvi d tthe inow by abo 5focoegedat an2%oron-colgeducate i ha something ithe te buthe is-- meinelse to talk aut so wi wp up and i gng s that i thk this tt swshatswed ifmmrants havenympt any part othwa diriti it wainhe 199's d w kd nmal reti to thotreces at theoc lelits to b positity ma gd ass to tnk if there s tt b oa negativefft, manother anlsould he fs ior neted a positivefft. ptilahi skill

immigration can ve been a important contbur. thanyou. soy. pplaus ethanew wave is a profeort dartut lle. assoatpresr d affiliated wh e tional bureau of econom reah. y have ard, isods like he aexrtn the imcts ofmmigraonn entrreneurship. althgh asure ls of oer reted ids. heaslspuished in ltart journals othe d other pi. >> thankou. hi

thank you for vi mhe toda as alealluded toimgrio s en in the ws l te a ther's loof comping clmsut there about what the iacextly of imgration is what ihoht i would do r au todas veou kinf overview of hoecomtshink abt the labomaet impt, what impact h on workers, an uornatelya lot of the thin you see ithprs d t public policy debe em fromisnctis out what exactly thatmpt . i want to trtoet past those first and getohawe understand throughll our eviden and work udng imgration, that impa tbe woroso ial mal -- so that's

ree models i' g to get the 2mites. i better jump . ofn e way thestas th imgrioor even in the puic poly debates, the concern about immigratiosts basicay omookingt like the large numbers. the baseline is someig dit numb that represents t numb of immigrts living in thu. sth must haveome huge impaconurorrs. i'gog to basicallyrg dath the focus on the number, e t nber of --hebsute number is the ong way to think about immiatn but i will get t that. often in the kind ofebes there is a kinofn plit comparison to anotr rg nuer which is like t nber ofneloyed people. yosee helines ke this. you see it in the policy briefsro advocacy organizations. he'an examplethnuer of illegal miants outnumber the nuerf employed natives.

i's an aicle he d y wanto ll it that, and this rtul article was drawing on t sare related sources. thisind of ce estimates of e mber of illegal immigrts and the bls port othnuer of unempye theyidotakthe link for u. 's ofn like impcibuth argument is clr. if somehow wgot rid of all the pesky immigrants, ere wod be althese job openings for naveborn workers andhe unplme rate would goow isharely te? that brings me tmyrong model number one where t log in this comes down tnkg there is a fixedumr of jobs. if there is a fid mber o jo, e miant comes in, some nivhagot to los their job r e migrant to get a job. just wt to pointutha economists he been arguing againsth point of view for a very long me the s an economist in 92 caed david schloss w tne

-- termed- me up with thi term the lovofab pic ybe y've heard this befo. ialso used to argueorkers having shorter hours wil generate more jobs. same kind of argen econists have beenrgng against isor a very long timeani's st this wacky idea thawi n gaw. limning star by shinyou there is not a fixed numberf jobs in the u. it has doued it doesn't wa go up there are recessions wre it .o growi and the past decade, ith cornerhanobeen tt gat. i's ese periods of slow growth will beethe feeling --ot the reality but the feinth the economy is a zeroum. t is not. moreo the point there's a ge

body of research andiovanni ow some of the evidence that isirectlabout this exact questi. this has been studd and udd d udied empirically. do immigrants splacenatives from work? for ery immigrant thatom in how mannavelo their job? and sically what t uhot of thisesrch is the exact potef that kind of simple inking. itthat for every american wh comes in, not on ds nave not losehe j b athing le slightncrease, more anneobreed. giovanniald out so of e ason for this but a ke , one is that immian a n just showing uansuckin moy t of t u.s. economy -- by virtue of beg he, they arconsums. ey demand all the in ty needo vehousing, clothing, enrtainment, et cete. d as a result that itselis almost enough to gerate enough jo to employ theels. buon topf that the'al

the otr mechanisms that gian ao lud to, the fact tt ara scial is --mmrants ecialize in different jobs. i'm getting to the end omy talkhen i talkbouthings keha the's supply demand chnels by which they rae oduct dirsy bett than study. e of the most visibly vious ones which h bn studied is immigrants raise the divsi of rtaan ian aa. th generates employment. th tend to srt lot of businesses so there are many channe b ictheyan aually rais e number of jobs ratheth decrease i go back to the motivation for thisalwhich is that simple loc oua xenumber of jo leadsxactly to the wrong policyonclusion. ife unded all the imgrants and send th he, th wldoslikely lead to increase in navenemployment, not a decrease thnumber of jobsou b destroyed by this. . so i hopthe audience looks pretty receptiveo the idea

that this fixed numb ojobs eas et wacky, but it's soervasi ihought it had to beat ido. let's get to t nt vel of soiscation of wrg de which is what aut wages? well know supply and dand. higherorkers must mean was. you have wagen e y axis. number of rks the x-axis. then aownward sloping line call the laboremand curve. they don't uslly te you where that comes fm. whis it downrd sloping? that is important so i wl come back to at i simplifiedt by drawing it as the number of works,he red line. the rket econo in this very simple modelthe wage is th intersection of supp a demand. if you add wkers cp the wake

the wage ad workers, has to go down. isn't thatight? inedhere's a papeby very proment lar onist at rvd basically saying wit the title of whichas theab dend curve is downward spi as ithe rest of usoolar economisha fgoth bic ecoms. andvacornizati took s numbers quite seriously d they came up witthis eimate th immigration is costing u all $25,000 a ar this was p o by something ll the native populati growth iorporated, which i veever heardf. there is a pt iorti i llomba to in minute. ts real true? ist ally costing us al $2500 a year. thatou be an enormous cost immigration if itere true. dtmthrofessors don'

alys believe whathhaard gu say. isne tur out to be noense. i' ela carefully what i mean bth. that brings tmy wro model number twowhich is itus out th lor demd curve th comefr this llacious sumption tt stocofapal fed. if y haven't heard thte capital stockhe way econost use it basicay is refers to , all the otheintsn e ecom bid wke tt prucoutput. th is their ildings, lel auditorium, oucouters d microphones,tcthat we use to help us prode outp. th ia bstantial rt of the onomy. e tools we work wi a sponsie for a third of t gd sohente ason for t pictur that wnwardloping demand curve ithasmpon atthat stock of capital n ver change

so what haenin thikind of overmpfi view ofhe world isheimmigrtsome in, the amnt of tools peleavto wo wh goesow the's less cit f each woer to rk with. soay y a aea -- also toyexpoint- ich is economisd't lieve this at all. i can art again with a ptt simple facth t cit stock not fed th ialady even for worker terms e pil ocofhe u.s. per worker haal me anoued in the past 50 year let ela w this doesn't really hpe what immiation --hymmraonoe't really delete the amou o capital per worker i can lustrate iwi a overlyernaexample. souppose that giovan imgreso the u.s. and the -- inhi fixed cit sck of vw t world- at ulhappen is because e stock cit ifixed, he

will have sren fi with someone a y he she omputer with someby because you can't geanother cout. let'sahehas a space with me. will ble pduive if share wi h. in a market ony,y ges wi he go do from place --ormpye tbeilling toir me. that overly simple example luras itis likely happ. ovanni is intoeaze at he ulbe lot more productive ihe hasiswn che d inothat expensive r m g h o cout. e's enormous return o capital for hito jusbua computer. that's why it doe'really happen wh enostsay is in the ngunheab dand curve is comety rint, that e nd of pitaltock adjusts tori bk pil rks wt was before immiatn. i added, do nole me run over you with the economistige

words. t lg n onomisge made n of f sing this a lot. itas made fuofy singin the longune e all dead." were talking about basal rightwa threason is simple. in contrast thheigumrs i ow at thbenng t number of mian, e annual arvaof immigrants to t s.reui sll. one two hdredths of e esting wkfce toive yoso pspective, th ile than e mb o woeratach ye just from basicay it'going a entering t lor for. if you are ok thhe idethat the ony adjust jt ne to tul pution growth, a le y wk he negative popution gwth incorporat, you arprobably ok with tt idea. enou wilbekawi t

idea that thkind of capita oc adjtsusfi with immiation. the lasthi iilpoint t outh ithat $2500 number, the reas 's su a noen is it ces fm ve particularayf lcating the imct, which iasmed al40illion immigras livi the.s. arrived yestery and the capil stochano timeo just. a's absu. ft,hahappen ith ibbled in overheas50 yearanthcatal stock --ad pley of ti tadst. l righ so those are t wrong models ithlar market d i promised y the rht mol. we onin theg acy e meay. th were focused on the absolute nbeoforkers mi io the s. really what tters instead is not t absolu nbeof workers but e lativeumbers of different kindoforrs so janits do n cpete with

gineers for jo. mes a lot more sensto inabt rks of different types or wke othe same type competingitea oer deed, to sply in, t me jt agine erare two peoforkers skilleand skill. inac ttous mple and it iov splfied as i ll but that rnou to be a prettyoo apoxatn t u. bor maet if we defi ukieds ncolle a skill as coeg bacay lleduted woercoetwi the each otheannoolge worrs compe withacotr for bs. atattersn the tuisow ch