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Dec 7, 2013
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i agree with austan. i guess he would have a political incentive. the fact is i think we are at 3%. the december number is 250,000. they cut government spending back. the revenues have come in, in part, because of the tax hikes which created less damage. the fact is washington getting out of the way is a pre-condition for the private sector. >> i'll let austan weigh in on that. 92,000 federal jobs lost overall this year. do you think washington in action and sequester is hurting holding back the growth? >> it is holding back the growth. i thought it would hold back growth more than it did. i think most of the private sector who look at the economy for 2013 say that the austerity and the fiscal drag cut at least one point or almost two points off the system. i think austerity did not help the growth rate. >> i figured you would be opposite sides of the fence. >> 1% of the 1.5% is the tax hike. 1% of the drag this year out of the 1.5. >> i agree with that. >> meantime, signs this week that maybe i don't know, maybe the bailout -- automakers may be worth it. gm and chrysler, double dig
i agree with austan. i guess he would have a political incentive. the fact is i think we are at 3%. the december number is 250,000. they cut government spending back. the revenues have come in, in part, because of the tax hikes which created less damage. the fact is washington getting out of the way is a pre-condition for the private sector. >> i'll let austan weigh in on that. 92,000 federal jobs lost overall this year. do you think washington in action and sequester is hurting holding...
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stuart: i'm a little uncomfortable with this, austan. i'm used to you saying the sky is the limit, here we go, boys, we're off and running and now you're telling me to calm down, that's great. tell me about the fourth quarter 'cause we've got 3.6% growth in that summer to early fall quarter. now we've got an increase in the numbers of jobs created and we've got a lower unemployment rate. can we carry that through into the fourth quarter, do you think? >> i think possibly not. you know, most of the private sector forecasters are forecasting a pretty significant slowdown from that third quarter, i with-- which was surprisingly good. i'd love to get a number even approaching that kind of thing. i think going into next year things are looking a little better because some of the fiscal drag comes off or at least, you know, it doesn't keep getting worse. but i think for the fourth quarter, we should expect a bit of a slowdown. stuart: real fast, austan, i'm enjoying this so much, but i've just got 30 seconds left. the federal reserve, they're
stuart: i'm a little uncomfortable with this, austan. i'm used to you saying the sky is the limit, here we go, boys, we're off and running and now you're telling me to calm down, that's great. tell me about the fourth quarter 'cause we've got 3.6% growth in that summer to early fall quarter. now we've got an increase in the numbers of jobs created and we've got a lower unemployment rate. can we carry that through into the fourth quarter, do you think? >> i think possibly not. you know,...
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Dec 10, 2013
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austan, did i hear you sigh with his original response? >> a little bit.ook, the thing is, rather than look back 3,000 years i don't know what the ancient romans, greeks but i do know that we have had minimum wages and a series of policies that have not kept up with inflation. so, if you thought that the minimum wage was going to be devastating to employment than i think you kind of have to explain why when we have raised the minimum wage. it hasn't been devastating. why under the bush administration, for example, has inflation eroded away minimum wages and a huge boom to employment as it was going the opposite way and i think the thing that is the most problematic here is that we, we know what are the things that lead to better paying jobs and lower unemployment and a lot of those have to do with getting skills and education to the workforce. and, yet, when we say let's try to sponsor early education programs, let's not cut financial aid for people to go to college. let's sponsor training programs. >> so, there's a -- >> we get massive opposition. so, we'
austan, did i hear you sigh with his original response? >> a little bit.ook, the thing is, rather than look back 3,000 years i don't know what the ancient romans, greeks but i do know that we have had minimum wages and a series of policies that have not kept up with inflation. so, if you thought that the minimum wage was going to be devastating to employment than i think you kind of have to explain why when we have raised the minimum wage. it hasn't been devastating. why under the bush...
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Dec 6, 2013
12/13
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christian, austan, thank you for your time.ary stern will be with us for the rest of the show. >> well, that report one of the last major data points before the final fed meeting of the year. we'll talk to charles plosser about the economy and what looks more likely now, the risk of a taper. "squawk box" will be right back. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ >>> welcome back. somebody is not on vacation. rick santelli is here. you know what, no one's going to argue with you now, rick. >> i apologize, rick. we're very sorry. >> oh, i'm sure you're sorry. that's all right. i was busy! i was on with the census workers' boss in the white house seeing how coordinated this number may have been. >> i will always give you your say, rick. we th
christian, austan, thank you for your time.ary stern will be with us for the rest of the show. >> well, that report one of the last major data points before the final fed meeting of the year. we'll talk to charles plosser about the economy and what looks more likely now, the risk of a taper. "squawk box" will be right back. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped...
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Dec 7, 2013
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it is austan goolsbee, the former chief economic adviser to the president called the emerging deal notcalled it an embryonic stem cell sized deal, but we don't know for sure that this congress can get that done. >> i heard that too. and also, john, last up, there's a whole bunch of discussions about revenues going on which makes a lot of republicans unhappy. but co-pay for federal employee pension funds is one of the big sticking points. apparently over ten years worth $130 billion. democrats hate it. republicans want it. is that going to get in the way? >> you're going to have democrats who don't like it, but i believe that will be part of the deal. if you're not going to touch medicare and social security, this deal doesn't touch the two programs. it also isn't going to raise any taxes. if you avoid the hot buttons you have to get the money some place and the fees they'll get the money from are aviation fees. some people may call those a tax. and the amount -- kind of entitlement cuts would be from federal retirement and if you're stepny hoyer, you're not doing to like that. but to g
it is austan goolsbee, the former chief economic adviser to the president called the emerging deal notcalled it an embryonic stem cell sized deal, but we don't know for sure that this congress can get that done. >> i heard that too. and also, john, last up, there's a whole bunch of discussions about revenues going on which makes a lot of republicans unhappy. but co-pay for federal employee pension funds is one of the big sticking points. apparently over ten years worth $130 billion....