>> i think austan is right on that. there hasn't been much progress after the election. the hope is they do get something done, though, because there are some dire consequences. if there's no deals, more small

austan: i do think there are some parallels.f only mitch mcconnell was a thorn in the side of both of those. was let's don 2009 some, and if things remain bad we will do more good mitch mcconnell -- we will do more. mitch mcconnell saw to it there would not be more. if you look at the incoming biden administration, they will probably put his unit get focused on trying to get as much direct relief as you can as early as you can because the economy needs it. 2009, thatnce is in was traditional stimulus. the u.s. government is going to spend money to try to get growth jumpstarted. this is different. this is a temporary wave that has spread over us. we basically need to figure out a way to hold our breath for six to eight months until the vaccine can be widely available and we can go back to doing what we are doing before. our goal is to try to prevent permanent damage, which is little different from stimulus. i hope they can agree to do something. we need the money right now. david: that goes to a question that has been pending sin

liz: austan? >> well, that's not true. can take -- >> it's on video. >> it's on video, his plan is on the web and has been for months. the capital gains tax rate goes up for people making more than $400,000 a year. now -- liz: i wanted to clarify that. i'm glad you said that. [ speaking simultaneously ] >> -- owned by people in the top 1%. you can see why president trump has an excessive compulsion to just want to look at the stock market and say anything that would affect billionaires or big corporations is something that is inherently harming the country. but what we saw with donald trump's $2 trillion tax cut for high income people and big corporations is that only 32% of america thinks it was a good idea. as i say, that's the worst performance for approval of a tax cut in american polling history. that is because the american people saw what he did and just doing more of the same is not a good idea. you then take the covid crisis and you see that incompetent self-dealing and corruption can only go for a little bit befo

>> i think austan is right on that. there hasn't been much progress after the election. hope is they do get something done, though, because there are some dire consequences. if there's no deals, more small business failures, and more layoffs and some of these relief programs will go away. some people could be left in limbo, those who are self-employed and those out of work for a long time. those programs are set to expire. also a moratorium at the end of the year. in march the federal govern waived interest on student debt. that is set to expire. so clearly this is no joking matter here. a lot of people depends on congress and the administration coming together. >> so much financial d. matt egan in new york. thank you. we'll be right back. hmph... (food grunting menacingly) when the food you love doesn't love you back, stay smooth and fight heartburn fast with tums smoothies. ♪ tum tum-tum tum tums i'm committed to making a difference in people's lives. my team helped expand the benefits of reflective technology, so it's highly visible when it needs to be, and less visib

the 2nd box of identity and exile, matthew council travels to the middle east to retrace his steps, austan and refugees. rise about half of the world's palestinian population and see the conflict through the eyes. of those who live it, it breaks my heart to see this man has been like a father to yearn for a place that he may never see. i don't need of israel to make me go out about my son to al-jazeera correspondent, one half scottish and half lebanese. so diversity is really important to me and al-jazeera is the most diverse place i have ever worked. we have so many different nationalities and this is east brought together in this one news organization. and this diversity of perspective is reflected in our coverage, giving a more accurate representation of the world we report on. and that's a key strength of al-jazeera for 23 years. mohsin has collected objects he kinds along the coast. enough to pull his museum enough to break a guinness world record. with a story for every object has become an environmental activist, uninspired artist, and a voice for the plight of countless migrants. m

might have a trillion or more for states and localities, that might not materialize. >> might not austant know the result, probably won't know any time soon, but this is an important issue for cities and states. >> look, i agree with that we took the blue sweep, more of the blue dust buster at this point, and if the republicans were to retain the senate, i think jeb is right you would likely see a totally different composition of what the rescue would be. i don't think when we're out of the political sphere, i actually think this is an area that democrats and republicans would probably end up being able to agree on because the red states as well as the blue states are in tough spots and as long as you tied the money to the previous pension obligations, if you just tied the amount of relief to what's your population or how many cases you had, i don't think it would -- i don't think it would give as much indigestion to the republicans. >> but certainly the calculus, perhaps, different for somebody looking at the polls but who trusts those you might end up with a blue wave. >> that's clearl

austan goolsbee, thank you very much. >> thank you. >>> as you've heard, a record number of americansmorning raising all kinds of problems, all kinds of dangers. our coverage continues after this. (soft chimes) - [announcer] forget about vacuuming for up to a month. shark iq robot deep cleans and empties itself into a base you empty as little as once a month. and unlike standard robots that bounce around it cleans row by row. if it's not a shark, it's just a robot. ♪ ♪ ♪ ♪ ♪ try optum perks. it's a new way to save up to 80%. and everyone can do it. it's from optum, a health care company that's trusted by millions of people. you don't have to sign up for anything. just go to optumperks.com. and get a coupon to use at your pharmacy. that's it. i opted in. i opted in. you can, too. opt in and save big today. >>> all right. good morning. >> this morning two weeks since the election there are deepening fears of just how much more deadly this pandemic could get as president trump continues to delay the transition. and u.s. hospitalizations hit their highest total ever of this pandemic. righ

coming up, austan goolsbee, former council of economic advisors director will be joining "balance ofwith david westin. front and center is president-elect biden and is economic staff. this is bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. planks are the ultimate total body exercise. build your upper body with pushups. work your lower body with the aerosquat. the aerotrainer is tested to support over 500 pounds. it inflates and deflates in less than 30 seconds using the electric pump. head to aerotrainer.com now. now it's your turn to lose weight, look grea

have a much better economic environment for manufacturers than we did four years ago >> go ahead, austanusands of people in manufacturing, fewer are working than they were before trump got there he's going to be the first president in the history of our data who has fewer jobs than when he started. and 27% of the country thinks we're on the right track i mean, the bungling of the response to the virus is the first in a series of things that they have done dreadfully wrong, and i think this approach of cutting taxes for high income people and big corporations didn't work when we tried it before, and it's not working now. >> but most people, there's a majority of people that think trump has been better on the economy, austan, that's above 50 you're throwing in the covid numbers again. >> joe, i would add, just it's important to note too, certainly the covid shot had a big hit to the -- a lot of segments of the economy including manufacturing, small businesses but i think if you look at the response of the administration put forward, it is pretty remarkable within about a month of covid str

let's turn now to austan goolsbee, who's a professor of economics at chicago booth‘s school of businessis about to happen in the economy and he says is it too late to ask for a recount? after he has won the election. ifjoe recount? after he has won the election. if joe biden recount? after he has won the election. ifjoe biden is declared the winner, we are going to have likely a very similar situation with a deep downturn and congress that has got probably republicans and control of the senate trying to block all of the moves that a president biden will try to put forward. so it would definitely be a high degree of difficulty.” remember at the beginning the campaign democrats are very happy forjoe biden to cast in the sort of roosevelt image that he was going to come in with a thumping majority and was going to get a stimulus package and restart the economy is a did in 2008. when you look at what has happened, the events of the last 24 hours, the thin margin of the victory if it is a victory, the fact that they have not when the senate and the fact that there is not a relief package in

austan goolsbee an adviser to president obama said over the weekend that democrats should go ahead andat happened after that republicans are willing to offer at this point even if it's not even close to what nancy pelosi and chuck schumer wants because so many businesses are so hurting right now. ainsley: i was talking to someone who is an older individual who used to only shop at mom and pop stores and then walmarts open, targets open. those are great stores. we all shop there these mom and pop businesses we need to support right now. they are really hurting. if i have a specialty item it i want to buy i try to support whatever store is in my neighborhood because i don't want them to close. some of these big stores are a lot of these store owners are worried they will have to close because you can go to walmart and maybe get an item a little bit cheaper. their point is very valid. they are saying look, why can you go in a walmart and rub elbows with someone in a target or walmart. steve: big box stores. ainsley: why can did you go in there and not come into my small store or restauran