host: adam posen, your thoughts? where weing back to started with the principal. deficithad a recurrence that is structural. at 18 or 19%venue of gdp. it varies over the business cycle and recession. the fact we are constantly running in sufficient revenues -- running insufficient revenues is a point. i will pay up on something pete said. is potentially budget busting. i am worried we will get large unfunded tax cuts. bush taxed with the cuts 15 years ago. the border tax was out. they were right to get it out. you have to make it out somewhere. i think you have to think about raising rates on some things. host: p, your thoughts on that -- pete, your thoughts on that. border inhink without there, we have to talk about the revenue impacts. you cannot created independent -- you cannot created independent from the tech system. we have to talk about the future of the entitlement program in the united states. deficit spending has to be a consideration. studies showed high levels of debt above 90%. the study does not work. the study has been discredited, the data is wron

adam posen is with peterson institute. a few minutes left, thomas, go ahead. for domestic -- the line for democrats, go ahead. gave taxy point, you breaks to the rich people. intooney was invested their businesses in the united states. now, you are giving to the tax break -- giving the tax rate in the are investing in other countries. you are screwing the workingman class. break. giving the tax the rich sends his job to china or mexico. you give him the tax break. you send the stuff back over for the poor man to buy. he is working to to three jobs to do that. at investingook in the united states with the tax break, not some other country. andt: it is important to about what affects the bottom line for families. theirs is this visible -- there is this visible thing where jobs are not here. there are realities that cause it. jobs americans are unwilling to do. if you interfere with immigration, they will be crops rotting in the field. americans generally do not do those jobs. it has always been true. costless to insist everything is made in the u.s.. the reason

adam posen is with the peterson institute. thank you for your time. sunday on in depth, american activist, tea party author and attorney chrisanne hall is our guest. >> everybody has an idea the federal government is out of control. question i t asked get, as we teach, what do you suppose that is? what do we do about it? f we've been teaching the constitution properly for the would know rs, we what to do. >> she's author of several "essential uding stories for junior patriots," of liberty," and "sovereign duty," watch in depth unday live from noon to 3 p.m. eastern on book t.v. on c-span2. >> sunday night on q&a. >> i had never heard a sound, i man who know how this had been told from the time he as a young child that he was not worth anything could have had the courage and determination to find a way out of slavery. was intrigued and couldn't stop reading about him. lookingalist and author at the life of robert small, a slave who escaped bondage during civil rar and became a member of congress, in her book die."ee or served five terms. claim as a bri

still with us is david lafferty and adam posen. ain something to us that is important. the difference between tax cut and tax reform? does that make with the economy, overall? adam: you put your finger on the word. everybody uses the word reform but a reform would be something that would be taxed based, lest based, lesty -- distortionary. more sustainable meeting over the long-term it would have a steady stream of more revenue and more competitive meaning it would allow u.s. companies, some of whom get unfairly treated and who behave unfairly as a result of the tax code -- it would mean we are more just in terms of fixing the tax code and therefore, seem more fair to the american people. that is reform. theyuts, depending on who are given too, could be a stimulus to the economy. could add to the indebtedness of the u.s. economy but unlike infrastructure, it wouldn't necessarily lead to direct benefits for the american people. i want to bring it to you. you outlined what we spoke before, talking about how september and october could

adam posen. we will talk to him about central banks.es on friday. robust jobs numbers. the question is what happened to inflation? are the economic models broken? we have been good blackrock saying we just haven't seen the markets yet. time for the single best chart of the day. kevin logan is still with us. let me pull up this chart. , thee top of this chart u.s. unemployment in light loop. -- blue. still at one point 5% which is much lower than the fed wants it to be. here they are with another good read on jobs last week coming from the labor department. what are they waiting to see happen? >> the natural unemployment rate is not a fixed figure. it changes. we have seen fed officials lowering their chances. we don't really know. we haven't tested the real bounds yet. inflation is tapering off right now. a globalcause of excess supply. there is ample supply of goods throughout the world. is no longern determined by economic conditions in the states. it's determined by global conditions. when we focus on the u.s. unemployment rate we th

pete sepp and adam posen walk us through the tax proposal and changes discussed in congress.e will turn our attention to north korea with the center for strategic and international fellow, lisa collins. all today on the "washington journal." ♪ tors --n's to see c-span's city tors takes -- city takes you to do,, washington. saturday at new eastern on booktv. we will travel the city, talking to local authors, including tonya arnzen. she will share the history of faith-based programs in prisons in the role religion plays in the u.s. prison system. >> there is a case against the prison fellowship ministry. a man went to prison for a lot of crimes and became born-again. he found this ministry. they ran an entire wing in iowa state prison. you get your tv and phone. you get this parole. you get access to parole in this way. the separation of church and state sued them. they made the argument they are not partisan, they are faith-based. >> you will learn about the life of about the first african america as he recounts his role in the civil right movement in the pacific northwest. hi

host: are joined by adam posen andhe peterson institute pete sepp of the national taxpayers union. as we try to tackle the topic of what congress may or may not do. pillars ofts on what what tax reform should be built around. what are the main issues tax reform should be built on? guest: we need to build the morality first. by standing still, we are falling further behind as a country.