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emily compagno leo terrel and austan goolsbee join us next as this special edition of "hannity" continuousmy schizophrenia. i used to hear these terrible voices. loser! you're such a failure. you're so embarrassing. i used to feel like everyone was staring at me. but we're doing much better now, right? yeah. fanapt is approved for the treatment of schizophrenia in adults. in clinical trials, fanapt significantly improved symptoms of schizophrenia compared to placebo. fanapt may change your heart rhythm which could elevate risk of sudden death. your doctor will consider this when deciding among treatments and may prescribe another medication first or may instruct you to take a smaller dosage of fanapt. the good thing to know, is we're not alone. call 8557 fanapt can leave you holding your breath. ♪ but bristol myers squibb is working to change things. by researching new kinds of medicines that could help you live longer. including options that are chemo-free. because we're committed to bringing new hope into lung cancer care. becausimon pagenaud takes the lead at the indy 500! coming to the

austan goolsbee with that next. to fix the economy we have to get control over the virus. plan to save lives in the months ahead. we need to increase federal support for testing, doubling the number of drive-thru testing sites. we absolutely need a clear message from the very top of our federal government that everyone needs to wear a mask in public. every single frontline worker should have the personal protective equipment that they need to be safe. we need to support schools and childcare programs so parents, if and when they can return to work, are confident that their children will be safe and cared for. and finally, we need to protect the populations most at risk: our seniors, vulnerable populations with pre-existing conditions. we need real plans, real guidelines, with uniform nationwide standards. it's a simple proposition folks, we're all in this together. we gotta fight this together. we'll emerge from this stronger because we did it together. i'm joe biden and i approve this message. simon pagenaud takes the lead at the indy 500! coming to the green flag, racing

joining us with reaction is former obama advisor austan goolsbee and fox news contributor charlie hurtaustin, i want to start with you because i thought it was a fair question my think it shows in part speaker pelosi's approach to this. i don't understand why democrats instantaneously want to take a continuing resolution off the table, one that may be just days in length in order to score some political points to try to create this narrative that republicans can't get things done. why do democrats do that don't they understand people just see through this crap? >> well, you've got two different subjects. let's think about the continuing resolution. you mean let's have a short-term extension of the unemployment as it exists now. >> jason: well yes, for just a few days. she said, the democrats said they wouldn't even consider it. unless they think there's a bigger deal. of course they want a bigger deal. republicans are opposed. >> i know why. it's because -- no, no, it's because the state unemployment offices have shut down the computers for this extended unemployment. most of the state

austan goolsbee chairman of the council of economic advisors under president obama., feels like it. thank you for being here. a little explainer on three states that really matter in 2020. everything in gray is considered a toss-up state so we are going to focus on 20 electoral votes in pennsylvania and 16 in michigan for a total of 65. i want to show the audience hear what we called a heat map. the states in deep red with the most affected by covid, so florida, michigan, pennsylvania. of those three, florida has clearly had the biggest problem because of lot of improvement lately on the curve and trying to flatten that curve. the reason i bring up these three as we've got new state unemployment numbers just out today. this is pennsylvania in march. 5.8%, stunning number. in july, just out, 13.7%. these are the numbers in florida. back in march precovid, 4.4% and today, up over 11%. however, in michigan, this is what we found yesterday, they shot up to almost 15% in june and just out today, they've gone down below 9% to 8.7. the reason i bring this up is he both argu

let's talk about all of this with austan goolsbee and he served of the chairman of the economic advisers in obama administration. which means you know a think or two about economic crises we're glad you're here. >> thank you for having me, poppy. >> so i mean look, i mean, i think everyone knows at this point how i feel about congress not reaching a deal. it's unacceptable. they knew this was coming four months. putting the politics aside to just the economics of it and not repeating past mistakes, are you in the camp of ben bernanke who said don't too little congress, to get us out of the economic crisis. do you think we're in jeopardy of repeating the past mistakes? >> yeah, it's already happened. there is one difference between now and the last crisis, which is this isn't really stimulus. we're not even yet to the spot where stimulus can work in the sense of government spending to try to get the economy moving again. this is literally just rescue and relief while the furnace is out. i mean, we have got to get control of the spread of the virus, otherwise, we're just going to be shovel

joining me now, austan goolsbee, the former chairman of the council of economic advisers for president. he's currently a professor of economics at the booth school of business at the university of chicago and knows a lot about these things because he was an adviser to the president during the last election. austan, it is kind of remarkable. i'm staring here. i have charts of the s&p 500 next to me all the time. it's kind of amazing. we're almost at record highs in the stock market. house prices are up because wealthy people are getting 30-year mortgages at under 3% or paying cash for distressed properties, and people are on the streets. people are without jobs. people are losing their unemployment. >> i mean it's crazy. you've been a financial journalist 25 years. i feel like we've been talking about this for 19 of those 25 years. >> yeah. >> and we always said when we talked that the stock market is not the economy. it is a barometer of some things, but it is not the economy, and nowhere has that been made more plain than in the last six months in the united states. when we had a mont

good morning, austan goolsbee. first, talk about the pay roll tax cuts. not something everybody thinks of all the time. what does it do and why is it important the president decided to do away with it? >> well, you heard the president saying he wants to get rid of that pay roll tax cut. what it does is pays for social scuty. this is literally -- somebody had proposed add legislation, get rid of the pay roll tax cut, we would say the person's trying to undermine and destroy the social security system. now, that might not be a surprise the president's own budget he's proposed has malt pop ti multiple times tried to cut the social security system, the first time proposing a frontal assault on the way we finance the mainstay of retirement security in the country. so the only thing i'll say is, he knew this. they've been proposing this pay roll tax cut for months, and it's not just democrats. virtually all republicans in congress have opposed this idea. precisely because it's going to undermine social security. you then add on top of it, i've always said that

this is an issue i do want to raise with austan goolsbee, former biden economic council chair. ustan, i will begin with you. i had paul dejoria with us earlier. he became a billionaire many times over and he doesn't like the tone he's hearing out of a lot of the democratic speakers going after a wealth tax, going after a surtax and that it's gone just beyond raising rates to, you know, this idea in california where they want to take a percentage of the wealth that you accumulated there. how do you feel about that and his stating this is too much? >> well, i guess i'm not surprised that a guy who is a multi-billionaire and just benefited from a $2 trillion high income oriented tax cut would be opposed to seeing his taxes would go back up. i'm not surprised at that. neil: what bothered him the most, just to be clear, what bothered him the most was the wealth tax. not, you know, not bringing the top rate back to 39.6% but a wealth tax. what do you think of that? >> okay. there were a lot of cuts to the wealth tax. abolishing and raising the cap on the estate tax, a bunch of things

austan goolsbee, chairman and professor at the booth school of business and glen hubbard, former councilvisers both join us. very good morning to both of you. austan, i'll start with you. what do you think leads to a stimulus deal of note and size would it only come if we see worsening economic data or a falling stock market >> yeah, probably. i think for sure if you started to see a real deep return to the kind of free fall moments, there would be a little more pressure on doing a deal. i think historically this close to a presidential election congress really usually can't do anything because they're trying to just set up a series of show votes where they say, we would have been able to do this but the president or the other party is against it. and so i'm fearful about that dynamic. hopefully they can agree to something, but i think they will not be able to agree on anything like the order of magnitude of what the problem is going to be. >> glen, clearly there's a massive bifurcation in the economy as steve has outlined as the stock market versus unemployment rates tell us that said,