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TIME	SPEAKER	TEXT
00:00:07	Unidentified Speaker	"WASHINGTON JOURNAL" CONTINUES.
00:00:11	HOST	BOB GREENSTEIN WITH THE CENTER ON BUDGET AND POLICY PRIORITIES IS THE EXECUTIVE DIRECTOR AND ON VIARD...
00:01:01	GUEST	THAT IS WHAT WE HAVE BEEN EXPECTING AND WE WILL FIND OUT IN A FEW MINUTES WHETHER THAT -- WHETHER...
00:01:23	HOST	I'M GETTING WORD FROM OUR PRODUCER THAT THE ASSOCIATED PRESS IS SAYING THAT THE JOBLESS RATE IS 8.9%....
00:01:33	GUEST	THAT IS JUST ABOUT WHAT WAS EXPECTED. THE GOOD NEWS IS, IF THERE IS ANY, IS THAT VARIOUS SIGNS INDICATE...
00:02:19	HOST	DO YOU AGREE WITH WHAT THE OBAMA ADMINISTRATION HAS DONE THUS FAR ON THE ECONOMY, AND WHERE WOULD...
00:02:32	GUEST	I WOULD GIVE THE ADMINISTRATION HIGH MARKS, PARTICULARLY IN TERMS OF THE RECOVERY PACKAGE THAT PASSED...
00:03:15	HOST	HOW WOULD YOU GRADE WITH THE OBAMA ADMINISTRATION HAS DONE THUS FAR AND WHAT CHANGES YOU WANT TO SEE?...
00:03:21	GUEST	I WOULD PROBABLY GIVE A LITTLE BIT LESS FAVORABLE RATES THAN BOB. PARTS OF IT ARE SENSIBLE AND PARTS...
00:04:17	HOST	WE ARE HEARING THAT THE UNEMPLOYMENT -- THE UNEMPLOYMENT NUMBER FOR APRIL IS 5.39 -- IS $539,000. ...
00:04:35	GUEST	A LITTLE, NOT MUCH. HOW YOU SAY THAT A LOSS OF HALF A MILLION JOBS AS OPPOSED TO 600,000 OR 700,000...
00:05:25	HOST	ALAN VIARD?
00:05:28	GUEST	I AGREE WITH THAT. THE 500,000 JOBS IS A LOT OF JOBS TO LOSE. IT PROBABLY IS BRINGS THE KEY -- THE...
00:06:01	HOST	LET'S TURN TO PRESIDENT OBAMA'S BUDGET. THE HEADLINE THIS MORNING, "OBAMA CUTS BILLIONS, BUT ADS ...
00:07:24	GUEST	I AGREE. THE BUDGET IS COMING OUT IN THREE PIECES, THE BIG ISSUES, THE BIG THEMES, THE PROPOSALS ...
00:08:41	HOST	YOU TO AGREE ON A LOT HERE. WHERE YOU DISAGREE ON THE BUDGET?
00:08:45	GUEST	LET ME SAY WHAT I DISAGREE WITH ON THE PRESIDENT'S BUDGET AND BOUGHT INTO WHERE HE AGREES OR DISAGREES....
00:10:28	HOST	MR. GREENSTEIN?
00:10:32	GUEST	WE AGREE ON THE ISSUE THAT WE FACE SERIOUS LONG-TERM FISCAL PROBLEMS AND WE ARE GOING TO NEED TO DO...
00:13:24	HOST	PAUL JOINED US ON THE REPUBLICAN LOT -- REPUBLICAN LINE FROM LITTLE ROCK, ARKANSAS. GOOD MORNING. ...
00:14:03	HOST	LET'S TALK ABOUT TAX CUTS.
00:14:09	GUEST	ALAN AND I WOULD AGREE, WHETHER WE THINK TAX CUTS ARE A GOOD IDEA -- SOME ARE GOOD AND SOME ARE BAD....
00:16:18	HOST	YOU WANT TO WEIGH IN?
00:16:22	GUEST	YES, I AGREE WITH BOB ON ONE CRITICAL POINT AND I WOULD HAVE TO DISAGREE WITH THE CALLER ON THIS. ...
00:18:14	HOST	LOS TILDA -- LET'S HEAR FROM MARY ON THE DEMOCRATS' LINE IN FLORIDA. CALLER: I JUST WANT TO MAKE A...
00:19:42	HOST	MARY, LET ME ASK YOU, WHAT YOU SEE FROM PRESIDENT OBAMA ON THIS ISSUE WHEN IT COMES TO SPENDING FOR...
00:20:04	HOST	WELFARE, ASSISTANCE FOR HOUSING, THOSE SORT OF PROGRAMS. CALLER: I FEEL LIKE EVERYONE IS TALKING ABOUT...
00:20:25	HOST	MR. GREENSTEIN, LET'S TALK ABOUT SPENDING IN THIS BUDGET FOR SOCIAL PROGRAMS. YOU SEE IT AS ADEQUATE?...
00:20:34	GUEST	IN AN AREA LIKE SOCIAL PROGRAMS, YOUR QUESTION IS NOT SIMPLY, IS IT MORE DOLLARS OR FEWER DOLLARS?...
00:22:20	HOST	MR. VIARD, IS IT MONEY WELL SPENT?
00:22:23	GUEST	I DO NOT HAVE ANY QUARRELS WITH THOSE PROPOSALS. I THINK THERE ARE SOME GOOD PROPOSALS IN THE ADMINISTRATION'S...
00:23:02	HOST	WHY IS IT THAT PEOPLE COMPARE THE DEFICIT TO THE SHARE OF GDP? EXPLAIN THAT RELATIONSHIP.
00:23:07	GUEST	GDP IS THE TOTAL OUTPUT OF THE COUNTRY AND THE TOTAL INCOME THAT AMERICANS HAVE, LOOSELY SPEAKING....
00:23:54	GUEST	WE HAVE NOT MENTIONED A VERY IMPORTANT PART OF THE PRESIDENT'S PROPOSALS, WHICH HE HAS BEEN REITERATING...
00:25:00	HOST	MATURE FROM A REPUBLICAN IN FORT WAYNE, INDIANA, GOOD MORNING. CALLER: GENTLEMEN TO MY TO HEAR AND...
00:26:47	GUEST	MOST PEOPLE WANT THE GOVERNMENT TO PROVIDE NATIONAL DEFENSE. THEY ALSO WANT MEDICAID AND SOCIAL SECURITY....
00:28:22	GUEST	WE HAVE WHAT WILL SEEM TO BE TO MANY PEOPLE A CONTRADICTION. IT REALLY IS NOT. WE HAVE ONE SET OF...
00:30:55	HOST	JOEL JOINS US ON THE REPUBLICAN LINE FROM FLORIDA. CALLER: I HAVE A COUPLE OF THINGS. WE KEEP TALKING...
00:31:59	HOST	WHAT ABOUT THE VETERANS BUDGET? YOU SEE AN INCREASE OR DECREASE?
00:32:07	GUEST	THE COMMITMENT WE HAVE TO VETERANS AND FAMILIES OF THOSE THAT HAVE DIED, THAT IS AN OBLIGATION THAT...
00:32:45	GUEST	UNDER THE OBAMA BUDGET, THE VETERANS BUDGET IS EXPANDING. THE CALLER TALKED ABOUT PEOPLE GOING TO...
00:33:48	HOST	LET'S MOVE ON TO CINDY IN GRAPEVINE, TEXAS, ON THE DEMOCRATS' LINE. CALLER: WHAT ABOUT REAGAN? HE...
00:34:59	GUEST	I THINK THAT THAT IS PARTLY TRUE. IT MISSES ANOTHER PART OF THE REALITY. THERE ARE A LOT OF LOBBYISTS...
00:36:01	HOST	LET ME GET YOUR REACTIONS TO A PROPOSAL PUT FORTH BY THE REPUBLICAN FROM VIRGINIA. HE WANTS TO CONVENE...
00:36:21	GUEST	I AM AN INTERESTING PERSON TO ASK. WE HAD A COMMISSION IN 1994. I WAS A COMMISSIONER. I WAS A MEMBER...
00:38:28	HOST	WE'RE JOINED BY TIM FROM KENTUCKY. CALLER: I THINK WE SHOULD SET UP A STRUCTURE LIKE TO HAVE AND THE...
00:39:15	HOST	SHOULD AMERICA PRODUCE MORE?
00:39:18	GUEST	I AM NOT SURE THAT IS THE RIGHT QUESTION. PEOPLE TALK ABOUT EXPORTS BEING GOOD AND IMPORTS BEING BAD....
00:40:32	HOST	WE HAVE JOAN FROM BUFFALO, NEW YORK. CALLER: I WOULD LIKE TO BE TOLD BY SPECIFIC WAYS THAT NAFTA HAS...
00:40:54	GUEST	I WOULD GIVE THIS TO ALAN. I AM NOT A TRADE ECONOMIST.
00:41:00	GUEST	I AM NOT A TREATY ECONOMIST EITHER.
00:41:05	HOST	DO YOU HAVE ANY THOUGHTS OR ANALYSIS ON NAFTA?
00:41:13	GUEST	I HAVE NOT STUDIED NAFTA IN DETAIL. GENERALLY, WHEN YOU MAKE TRADE AGREEMENTS, IF THEY ARE SUCCESSFUL,...
00:43:17	GUEST	I THINK HE MAY UNDERSTATE THE POINT. HE MAY HAVE 100 PEOPLE WHOSE JOBS WERE ADDED BY THE TRADE AGREEMENT....
00:44:21	HOST	WE HAVE CARE AND ON THE REPUBLICAN LINE FROM CALIFORNIA. -- WE HAVE KAREN ON THE REPUBLICAN LINE FROM...
00:44:39	GUEST	VERY LITTLE. I BELIEVE THE FOREIGN AID BUDGET IS ABOUT $20 BILLION. THAT WOULD BE 1% OF THE BUDGET....
00:44:48	GUEST	I DO NOT REMEMBER THE PRECISE FIGURE. I THINK THAT 1% IS ABOUT RIGHT. FOR YEARS, THERE HAVE BEEN ...
00:46:45	HOST	AND EVEN TALKING TO PETER ONE-ON-ONE ABOUT THE BUDGET? -- HAVE YOU BEEN TALKING TO PETER ONE ON ONE...
00:46:54	GUEST	WE'RE GOOD FRIENDS. I TALKED TO HIM ALL THE TIME. FROM TIME TO TIME, WE TALK ABOUT THE FACT THAT THERE...
00:47:50	HOST	WHAT KINDS OF ANSWERS YOU GET FROM PETER WHEN YOU ASK WHAT KINDS OF THINGS ARE WORKING? I THOUGHT...
00:48:02	GUEST	HAVE A SERIES OF PROPOSALS IN THE BUDGET THAT ARE CONTROVERSIAL. WE SOMETIMES TALK ABOUT HOW THEY ...
00:48:48	HOST	LET'S HEAR FROM SUE ON THE DEMOCRATS' LINE. CALLER: I WOULD LIKE TO SAY THAT OBAMA HAS ADDRESSED ...
00:49:37	HOST	LET'S TALK ABOUT THAT. THERE IS A SYSTEM IN PLACE. HOW DO YOU CHANGE THAT? THE DEMOCRATS ARE OBJECTING...
00:49:58	GUEST	I AM NOT SURE I HAVE A GOOD ANSWER ON THAT. ONE PARTIAL ANSWER MAY GO BACK TO THE BIPARTISAN COMMISSION...
00:51:17	HOST	LET'S GET SOME MORE PHONE CALLS IN HERE. WE HAVE PAUL FROM BIRCH RUN, MICH. CALLER: I DID NOT VOTE...
00:52:29	GUEST	VIRTUALLY EVERYTHING HE SAID WAS INCORRECT. IT IS HARD TO SAY THAT THE PRESIDENT DID NOT HIT THE GROUND...
00:54:46	HOST	WE HAVE ONE LAST TELEPHONE CALL FROM COLUMBUS, OHIO. GO AHEAD, CINDY. CALLER: IT SEEMS TO ME THAT...
00:55:35	HOST	WHAT IS YOUR RESPONSE?
00:55:38	GUEST	I WILL STAND BY WHAT I SAID BEFORE. THE AMERICAN PEOPLE ARE NOT LOSERS FROM TRADE. WE HAVE TO IMAGINE...
00:56:30	GUEST	WE HAVE WINNERS AND LOSERS AMONG CORPORATIONS AND BUSINESSES. IN THE TAX CODE, THERE ARE VARIOUS GROUPS...

NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.

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