christina romer, keith hennessey, and anna. [applause] >> thank you. thank you, massey, for your introduction. [inaudible] >> both dr. romer and mr. hennessy had to observation. you have someone who worked for republican president and another one who worked for democratic president to give stanford and cal. [laughter] spent they will share their views. hopefully that leads to a lot of enlightening conversation that we will have an also good questions and autistic so with that we'll start off with some of the defense of the week. we had earlier in the week and inauguration of president obama for a second term. getting into obama, and clearly the view, there's a lot of questions on how he is doing and what the administration is going to do, given what's happened in the last election. dr. romer, share some views given that you've worked for the president. how is the administration doing? >> so, certainly what is true is that the american economy has been through a very rough five years, and president obama has been president for four those. so it was certa

keith hennessey come christina romer and ana mok. >> thank you, for the introduction. i is preparing for today's general seminar [inaudible] you had someone and then another [laughter] >> they will make sure and have different views and the enlightening conversation will of good questions from the audience. of what started out with the beliefs. we had earlier in the week the inauguration of president obama's second term in getting into the view there's a lot of questions on how she's doing and what the administration is going to do given what happened in the recent election. hal is the administration doing? >> certainly what is true is the american economy has been through a very rough five years and the president obama has been president for four of those. so it was certainly a baptism by fire in terms of what he faced coming in. yes, i think that the administration has taken so incredibly important economic policies. everything from the recovery that played a key role in helping us to turn the corners to health care reform which i think will be important going forwar

even christina romer, the former head of the council of economic advisors for the president says yourease tax, that also hurts growth. >> well, it is about timing. it is about timing. and it is about timing as to when make cuts, as well. >> chris: the fiscal cliff, you raised taxes $650 billion, right away. >> yeah and that was a very good thing to do. on people making over -- the high end in our population. so, here's the thing, though: we are here to have a budget that has revenue coming in, that has investments made, into the future. we also want to make decisions in those two areas where growth with jobs are created, because, more jobs, more revenue, coming in. nothing brings more money to the treasury of the united states, than investment in education, of the american people. we need to recognize that. which cuts really help us and which cuts really hurt our future. and, cuts in education, scientific research and the rest are harmful and they are what are accepted by the sequestration. it is almost wrong to say it is a spending problem, we have a deficit problem, we have low int

christina romer was one of the four economics principals who met with mr. obama daily to design and guide the administration's response to the great recession. dr. romer played a key role in the administration's economic policy, health care reform, and budget policy. she is an expert in economic history and macrocommix economics,she is a leading scholar on the great depression the monetary and fiscal policy. she is co-director of the program at the national bureau of economic research. she is a regular contributor to "the new york times" and contributors to the bloomberg television. dr. roamer holds an -- romer holds an undergraduate degree and ph.d. today, they will be in conversation with anna mock, who is vice chair of the board of governors at bank of america. please welcome our guests. [applause] >> thank you, massey for the introduction. i was preparing for today with my 12-year-old daughter. she had some observations. you have someone who is a publishing -- who worked for a republican president and someone who worked for a democratic president? she s