here now to make his case is an old friend of the show, alan blinder, distinguished professor of economicsas always, welcome back to the program. >> hello, larry. >> before i get to tax hikes, i gist want to ask you because i don't understand. i think spending cuts, spending restraint, limited government, across the board, cuts just what the doctor ordered for confidence and economic growth. why do you oppose them? >> well, it depends what "they" are. there are a lot of things we don't want to cut and things we should cut. back to you, how will you get members of congress to agree on the list? >> they've already got the list. you've got $30 billion scheduled for january alan, if we can't cut $40 billion, we'll never cut. >> we can and indeed we need to cut more than that going forward. i don't think there's any doubt about that. >> why did you write what you wrote? >> i don't believe anybody agrees that that formula will be allowed to go into effect because of the large hit it takes out of the pentagon. so congress is, i believe, and i think almost everyone believes congress is not going t

the first is alan blinder a professor of economics and public affairs at princeton and has served as vice chairman of the federal reserve board. the second is john lifski. the distinguished visiting scholar of the economics program of the advanced international studies at john hopkins anaging ty and recently left the director. if you have any questions that you might want to lob in here, you can email them to jan hopkins@questions@econclub.org. gentlemen. >> mr. secretary, thank you very much for being here tonight. one of my favorite geithner quotes is we save the economy, but we lost the public in doing it. we spoke to the first half of that in your remarks but not the second. i'm not looking to draw you back then. but rather to get your thoughts on whether it's possible and if so how to get the public back. >> it's first remembering that people saw their lives up ended by a set of choices mostly they did not make. and they saw the world burning around them. a broad run on the first time in memory that people faced the risk of losing their savings or this depth of loss and wealth a

not very smart mr rogers it does appear that the press at least some of us goes along with this alan blinder. old friends of the federal reserve said that it seems to be the prats that is not as hard on him as politicians have and then there was this cover story of the atlantic i don't know if you saw it but it was this long sympathetic you could say story about bernanke in an interview the cover said the hero and you know i heard an interview with the author where he was asked about his sympathetic viewpoint which he was defending and he started mr rogers by saying you know maybe you could call me a contrary but and then he went on to defend it my question to you you've been called a contrary an investor mr rogers is supporting a contrarian view point. you know for a start everybody in america nearly everybody in america of course of nearly everybody and most irregular know there is a federal reserve in the works we do know and understand what it's doing and how it's working and i see your cover you have it on my screen. maestro. of the same thing about what's his name alan greenspan yeah.

the first is alan blinder, prof. of economics and public affairs at princeton and has served as vice chairman of the federal reserve board. the second is john lexi who is the distinguished visiting scholar -- john lipsky. he is at johns hopkins university and recently left the imf as the acting managing director. if you have any questions that you might want to lob in here, you can e-mail them to janhopkins@questiona@ econclub.org. gentlemen? [laughter] >> who is first? >> i am. mr. secretary, thank you very much for being here tonight. one of my favorite tim geithner quotes -" we saved the economy but lost the public doing it."icku i'm wondering whether it's possible to get the public backs. . >> people saw their lives depended by a set of choices mostly they did not make. they saw the world burning around them, a broad run -- the first time in memory that people face a risk of losing their savings or the steps of loss in wealth and employment. then they saw the government forced to act to rescue the people they tho

the first is alan blinder, the professor of economics and public affairs at princeton, and has servedtinguished visiting scholar in the international economics program of the school of the advanced international studies at johns hopkins university. and recently left the imf as the act managing director, and if you have any questions that you might want to lob in here, you can e-mail them to jan hopkins@questions. gentlemen? [laughter] >> mr. secretary, thank you very much for being here tonight. one of my favorite geithner quotes, we saved the economy but lost the public in doing it. you spoke to the first half of that at the beginning of your remarks tonight but not the second. i'm not looking to draw you back then but, rather to get your thoughts on whether it's possible and if so, how, to get the public back. >> well, remembering that people saw their lives upended by a set of choices mostly they did not make. and they saw the world burning around them. a broad run on the financial system. the first time in memory that people face the risk of losing their savings or this depth of l

the first is alan blinder who is the professor of economics and public affairs at princeton and has served as vice chairman of the federal reserve board. the second is john lipsky who is the distinguished visiting scholar in the international economics program of the polynesian school at johns hopkins university and recently left the imf as the acting managing director. and if you have any questions that you might want to lob in here, you can e-mail them to jan hopkins it's --@questions@econ club.org. [inaudible conversations] >> i need to get out my blackberry. [laughter] >> all right, who's first? >> i am. mr. secretary, thank you very much for being here tonight. one of my favorite geithner quotes is we saved the economy, but we kind of lost the public in doing it. you spoke to the first half of that at the beginning of your remarks tonight but not the second, but i'm not looking to draw you back then, but rather to get your thoughts on whether it's possible, and if so how, to get the public back. >> well, first, you know, just remembering that people saw their lives upended by a set of