| 00:00:09 |
Unidentified Speaker, -
WHERE THE TAXPAYER MONEY WAS SPENT AND WHAT EFFECT IT HAD ON THE ECONOMY. MR. GRABELL, A REPORTER SPOKE OF TENEMENT MUSEUM IN NEW YORK CITY. THIS IS...
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| 00:10:55 |
Unidentified Speaker, -
REPORTER DECIDE WHAT TO FOCUS ON, AND IN GOING OUT AROUND THE COUNTRY WHAT WAS THE MOOD OF THE PEOPLE AS HE BEGAN REPORTING THE CHANGE? >> IT'S FUNNY...
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| 00:11:13 |
Unidentified Speaker, -
IN 2008 AND SPENT THE BETTER TIME OF A YEAR-AND-A-HALF WITH THE CANDIDATES WHEN I WAS LOOKING FOR A JOB AFTER THE ELECTION AND THE PRESIDENT-ELECT ...
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| 00:14:07 |
Unidentified Speaker, -
AND SO BOUGHT FEDERAL GOVERNMENT OBVIOUSLY TO THE IS THE BUDGET TODAY FROM THE FEDERAL GOVERNMENT DOESN'T HAVE THAT COUNTRY, IT'S ONE OF THE REASONS...
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| 00:19:13 |
Unidentified Speaker, -
COULD BE USED FOR DIRECT EMPLOYMENT. I WENT TO TENNESSEE TO A VERY POOR TOWN. THIS PLACE HAD TWO MAJOR EMPLOYERS -- TO AUTO PLANTS, AND BOTH OF THEM...
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| 00:21:02 |
Unidentified Speaker, -
AS IN MY EXPERIENCE, MY EXPERIENCE WAS GENERALLY HOW THINGS WORK OUT. YOU STOLE MY IDEA ABOUT SUBSIDIZED JOBS. >> WHY WERE THERE NOT MORE DIRECT SUBSIDIZED...
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| 00:21:31 |
Unidentified Speaker, -
JOB CREATION. ANOTHER GREAT ECONOMIC INSIGHT. [LAUGHTER] >> A LOT OF WHAT WE DID, AND I THINK A LOT OF
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| 00:21:45 |
Unidentified Speaker, -
WHAT STIMULUS IS AIMED TOWARDS, IS TO SET THE RIGHT INCENTIVES IN PLACE AND CROSS YOUR FINGERS AND HOPE IT WORKS. I WOULD ARGUE THAT THAT IS ABOUT ONE...
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| 00:24:50 |
Unidentified Speaker, -
BROOKLYN BRIDGE IS GETTING A FRESH COAT OF PAINT. WE ARE RESTORING THE LONG ISLAND SEAWALL. $500 MILLION TO THE TRANSIT CENTER, REPLACING THE PLANKS...
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| 00:26:48 |
Unidentified Speaker, -
LINE -- THE NEW YORKER'S UNDERPINNING FOR IT IN ONE WAY OR ANOTHER. THAT IS TRUE OF MANY OF THE BIG PROJECTS. THEY HAVE MONEY FROM ALL KINDS OF PARTS,...
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| 00:27:12 |
Unidentified Speaker, -
THAT, SOME OF US, INCLUDING THE PRESIDENT. ONE OF THE THINGS WE RECOGNIZE AT THE TIME WAS THAT THERE WERE ABOUT -- OVER 700,000 TEMPORARY WORKERS EMPLOYED...
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| 00:30:20 |
Unidentified Speaker, -
DEAL WITH THEY GRILL PEOPLE ABOUT WHAT THEY WERE SPENDING MONEY ON. THEY HAD A CRAFTS TEACHER THERE, WHERE HE TAUGHT PEOPLE HOW TO MAKE BOONDOGGLES....
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| 00:30:54 |
Unidentified Speaker, -
DO IT. SOMETHING LIKE $1.5 MILLION -- >> IF I COULD INTERJECT HERE, I REMEMBER ONE DAY PICKING UP USA TODAY WHILE I WAS HELPING TO IMPLEMENT THE
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| 00:31:15 |
Unidentified Speaker, -
RECOVERY ACT. I READ THAT RECOVERY PROJECT CAUSES TRAFFIC JAM. THIS IS A PROJECT THAT I GENERALLY THOUGHT WAS A GOOD IDEA. IT WAS AN ARTICLE COMPLAINING...
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| 00:32:27 |
Unidentified Speaker, -
DANTE'S INFERNO. ROUGHLY 1% OF YOU HAD READ [INAUDIBLE]. YOU PROBABLY READ PARADISE LOST, BUT YOU PROBABLY HAVEN'T READ PARADISE REGAINED. THE OTHER...
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| 00:33:41 |
Unidentified Speaker, -
DEMONSTRATION WILL PUT OUT. AND YOU WILL HEAR FROM THE OTHER SIDE. YOU WANT TO MAKE SURE THAT YOU HAVE THE RIGHT VIEW. THE ADMINISTRATION HAS THE TIME...
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| 00:35:08 |
Unidentified Speaker, -
OTHER SIDE, YOU HAD JOHN MCCAIN AND TOM BROKER, SOMETIMES THOSE LISTS WOULD FALL UP UNDER SCRUTINY. SOMETIMES THEY HAVE TO TELL THE STORY THE BEST THEY...
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| 00:35:34 |
Unidentified Speaker, -
QUICK TO STIPULATE THAT A NEW STORY THAT SAYS THE GOVERNMENT DID SOMETHING RIGHT -- I ACTUALLY THINK THERE IS A REAL SENSE OF SURPRISE TO THE PEOPLE...
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| 00:36:34 |
Unidentified Speaker, -
A PROBLEM. THERE NEEDS TO BE A STORY THAT LESS THAN 6% HAD PROJECTS FOR APPROVAL IN THE STATE GOVERNMENT. I DON'T THINK THE ADMINISTRATION LIKE IT....
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| 00:37:12 |
Unidentified Speaker, -
5%. [LAUGHTER] >>
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| 00:37:14 |
Unidentified Speaker, -
IS THIS MONEY GOING WHERE IT NEEDS TO GO? THAT IS WHAT IT REALLY WAS. >> LET'S MOVE TO THE OTHER SIDE OF
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| 00:37:24 |
Unidentified Speaker, -
THIS AND TALK ABOUT WHAT THINGS WENT WELL. WE SAID SOMETHING ABOUT BOONDOGGLES. LET'S TALK ABOUT
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| 00:37:30 |
Unidentified Speaker, -
THAT. THERE ARE TWO WAYS OF LOOKING AT IT. THE ONE THAT GETS MOST ATTENTION WITH THE CLASSIC BOONDOGGLE STORY -- THE HEADLINE THE DIVISORS WERE WORRIED...
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| 00:40:35 |
Unidentified Speaker, -
BY A GUY OUT WEST AND HE SAID WHEREVER HE WENT, HE SHOWED THEM THAT THERE WERE NO BOONDOGGLES IN THEIR TOWN. BUT IF YOU WENT TO THE NEXT TOWN, YOU...
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| 00:41:05 |
Unidentified Speaker, -
LIKE. >> THEY KNEW RIGHT WHERE THE PLACE WAS THAT THE TURTLES WOULD MIGRATE. IT WAS THE MOST GRUESOME WEBSITE IMAGINABLE.
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| 00:41:15 |
Unidentified Speaker, -
IT WAS PURE TURTLE CARNAGE. PEOPLE HAVE DIFFERENT IDEAS. THEY WANTED THE STIMULUS TO SPUR ECONOMIC ACTIVITY, AND I SAW THAT -- I WOULD TO AKRON OHIO,...
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| 00:45:48 |
Unidentified Speaker, -
TO SOME EXTENT, TO THIS DAY. WE STILL HAVE 4% -- 40% THAT HAVE BEEN JOBLESS FOR LEAST SIX MONTHS. THAT IS THE HIGHEST UNEMPLOYMENT THAT HAS EVER BEEN....
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| 00:48:18 |
Unidentified Speaker, -
TEN MINUTES. I THINK WE GO UNTIL 8:00 O'CLOCK. IT IS IMPORTANT THAT WHEN WE ANSWER A QUESTION, THAT YOU WAIT FOR THE MICROPHONE TO COME HERE. THAT...
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| 00:48:53 |
Unidentified Speaker, -
PARTICULARLY TELLING THE STORY. AND NUMBER TWO, [INAUDIBLE QUESTION] BACK IN ROUND 2004 ESTIMATED -- THERE WAS SOMETHING ABOUT ONE TO $2 TRILLION WITH...
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| 00:49:45 |
Unidentified Speaker, -
THEY GAVE AMERICAN AND THE STRUCTURE A GREAT D. THEY SAID THAT WE NEEDED TO BRING AMERICAN INFRASTRUCTURE INTO A BETTER STATE. WHEN YOU THINK ABOUT TRANSIT,...
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| 00:51:19 |
Unidentified Speaker, -
DID IT. I THINK IT IS ACTUALLY RIGOROUS. I HAVE A FRIEND, THOUGH, THAT SAYS NEVER ASK YOUR BARBER IF YOU NEED A HAIRCUT. [LAUGHTER] >> THE ONLY THING...
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| 00:51:41 |
Unidentified Speaker, -
OF PROMOTING OUR PUBLISHERS, IT IS NOT FOR ME TO SAY THAT I WAS OUT THERE TRYING TO PUT THEM. I AM SURE THAT I DID NOT DO AS GOOD OF A JOB AS THEY COULD...
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| 00:53:03 |
Unidentified Speaker, -
THINGS THAT THE ADMINISTRATION WAS DOING. HER WERE A LOT OF EVENTS FOR GROUNDBREAKING OR ALONG THE LINES OF INFRASTRUCTURE. I THINK THE IDEA WAS THAT...
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| 00:54:17 |
Unidentified Speaker, -
JUST CUT INCOME TAXES FOR 95% OF AMERICANS. IT WAS A HUNDRED AND $6 BILLION. I'VE BEEN ROUND TO PEOPLE IN THE MIDST OF THE CAMPAIGN AND SAID, WHAT DID...
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| 00:55:22 |
Unidentified Speaker, -
DOWN. >> [INAUDIBLE QUESTION] -- SOME CONSTRUCTION AND THAT THEY WERE HIRING CHINESE
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| 00:55:44 |
Unidentified Speaker, -
WORKERS. -- BLUE-COLLAR WORKERS. >> THE ONE I RECALL, IN THE BOOK I FOCUS ON A GUY WHO WAS A
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| 00:56:07 |
Unidentified Speaker, -
TYPICAL PERSON WHO WORKED FOR THE SAME COMPANY FOR 35 YEARS, ENDED UP LIVING THE AMERICAN DREAM. ONE OF THE QUESTIONS WAS HOW MY GOING TO GET A JOB AS...
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| 00:57:29 |
Unidentified Speaker, -
GOVERNORS WERE DOING
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| 00:57:30 |
Unidentified Speaker, -
THIS. WHAT WE HAVE SEEN NOW, THE GOVERNORS HAVE VERY LOW APPROVAL RATINGS. MICHAEL COVERED THIS -- >> ABOUT THE DEMOCRATS? IS THAT THE ONE? >> YOU...
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| 00:58:01 |
Unidentified Speaker, -
RIGHT. I WROTE A LOT OF WORK
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| 00:58:05 |
Unidentified Speaker, -
AND GOVERNORS CRITICIZING THE
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| 00:58:08 |
Unidentified Speaker, -
STIMULUS. RICK PERRY COMPLETELY -- THERE WAS AN EASILY ACCEPTED LETTER WHERE HE WAS BEGGING THE PRESIDENT SOME MONEY DOWN THAT WAY. PEOPLE HAVE DOCUMENTED...
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| 00:59:45 |
Unidentified Speaker, -
ON WE WERE TALKING ABOUT RAILS AND STIMULUS, BUT THEN EVERYTHING GOT OVERTURNED. IT IS HARD TO DECIPHER. >> BACK THEIR? >> INSTEAD OF CHARACTERIZING...
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| 01:00:13 |
Unidentified Speaker, -
A RECESSION IN
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| 01:00:15 |
Unidentified Speaker, -
HISTORICAL TERMS, -- [INAUDIBLE QUESTION] THERE WERE MANY THINGS RESPONSIBLE LEADING TO REGULATION OF THE FINANCIAL -- [INAUDIBLE QUESTION] THE LONG-TERM...
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| 01:02:00 |
Unidentified Speaker, -
AND IT CAME UP DURING THIS CONVERSATION AND ALSO THROUGH THIS BOOK -- THE PUBLIC WOULD NOT HAVE WORRIED SO MUCH. IT TURNS UP THAT WE ACTUALLY NEEDED...
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| 01:03:51 |
Unidentified Speaker, -
THAT TEST. IF YOU TAKE THE FEDERAL GOVERNMENT -- THEY WANT TO SET UP EIGHT TRANSPORTATION POLICY -- WHETHER OR NOT YOU THINK A GOOD PLAN, THE IDEA...
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| 01:04:34 |
Unidentified Speaker, -
SAYING I WAS ENVIOUS AS AN ECONOMIST OR ANYTHING LIKE THAT, BUT I AM SAYING THAT THE FEDERALIST ISSUE IS REAL. >> AND THE ISSUE OF CHINA IS NOT THAT...
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| 01:04:52 |
Unidentified Speaker, -
ALSO LIKE THE SOLYNDRA PROBLEM, WHERE THE MINISTERS ARE NOT CRITICIZED FOR PUTTING ALL THIS MONEY INTO A SOLAR COMPANY THAT WENT ELIAN. PART OF THE...
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| 01:05:21 |
Unidentified Speaker, -
THE BEGINNING. A LOT OF PEOPLE GO IN WITH $1.2 TRILLION -- AND IN MY INTERVIEWS IT IS TRUE. PEOPLE FOR RELUCTANT AND HAD THEIR ARMS TURNED TO AGREE...
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| 01:06:13 |
Unidentified Speaker, -
OPERATION. THIS GUIDED -- THIS GUIDED DEFICIT BUDGET OPERATION. THERE WERE A LOT OF PEOPLE WHO HAVE A VERY IRRATIONAL FEAR OF BUDGET DEFICITS AT A TIME...
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| 01:09:04 |
Unidentified Speaker, -
QUESTION] >> WELL, YOU KNOW THIS BOOK IS ALL ABOUT THE FIRST PART OF YOUR QUESTION. IT
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| 01:09:34 |
Unidentified Speaker, -
IS ALL ABOUT THE DOWN
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| 01:09:39 |
Unidentified Speaker, -
ON THE GROUND GRANULAR LOOK AT THE IMPLEMENTATION OF THE STIMULUS. I SAID EARLIER, WAS THE ECONOMIC RATIONALE. IT IS ACADEMIC. IT IS CERTAINLY NOTHING...
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| 01:11:03 |
Unidentified Speaker, -
LAW OF THE PACKAGE AND THEN THEY STEPPED IN AND TWEAK IT. CONGRESSIONAL DEMOCRATS AND CONGRESSIONAL REPLICANTS -- DO YOU THINK IN RETROSPECT IT WOULD...
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| 01:11:37 |
Unidentified Speaker, -
GETTING IT OVER A TOP BAR. IT WAS NOT EXACTLY LIKE CONGRESS WAS LINING UP DEMOCRATS TO GET BEHIND IT. I THINK POLITICALLY IT WOULD HAVE BEEN AS WELL....
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| 01:12:24 |
Unidentified Speaker, -
SUPPORTING THE -- >> QUICKSORT. >> IF YOU LOOK AT THE NUMBERS, THERE ARE 300,000 JOBS SAVED. IT HAS
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| 01:12:38 |
Unidentified Speaker, -
SLOWLY GONE DOWN
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| 01:12:40 |
Unidentified Speaker, -
WITH THE STIMULUS FOR EDUCATION JOBS. JOBS CAME IN AND PROVIDED SOME OF THAT FUNDING. I THINK THIS MORNING THERE WAS SOMETHING LIKE 111,000 JOBS BEEN...
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| 01:14:26 |
Unidentified Speaker, -
THE MONEY. THE FORMULA IS FOR A COMPETENT. HOW MUCH YOU GIVE TO THE FEDERAL GOVERNMENT AND HOW MUCH YOU GET BACK. THE OIL INDUSTRY -- THEY GOT A LOT...
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| 01:14:55 |
Unidentified Speaker, -
COMING
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.