Congress just passed the biggest aid package in modern history. We ask six former White House economic advisors and one U.S. Senator: Will it actually work? What are its best and worst features? Where does $2 trillion come from, and what are the long-term effects of all that government spending?
We asked this same question nearly a decade ago. The answer then: probably not. But a lot has changed since then, and we’re three years into one of the most anomalous presidencies in American history. So once again we try to sort out presidential signal from noise. What we hear from legal and policy experts may leave you surprised, befuddled — and maybe infuriated.
Mike talks to economist Glenn Hubbard. Dr. Hubbard is dean and Russell L. Carson Professor of Finance and Economics at Columbia Business School. In addition to writing more than 100 scholarly articles in economics and finance, Dr. Hubbard is the author of three popular textbooks, as well as co-author of The Aid Trap: Hard Truths About Ending Poverty, Balance: The Economics of Great Powers From Ancient Rome to Modern America, and Healthy, Wealthy, and Wise: Five Steps to a Better Health Care System. Dr. Hubbard also has a wealth of real-world economic policy experience. From 1991 - 1993 he was a Deputy Assistant Secretary of the Treasury. From 2001 until 2003, he was chairman of the U.S. Council of Economic Advisers under President George W. Bush, where he played a key role in the design of the 2003 Bush tax cuts. He also served as an economic advisor to the 2008 and 2012 presidential campaigns of Mitt Romney, and the 2016 campaign of Jeb Bush. In the corporate sector, he serves on the boards of ADP, BlackRock Closed-End Funds, and MetLife. Dr. Hubbard is co-chair of the Committee on Capital Markets Regulation, a past Chair of the Economic Club of New York, and a past co-chair of the Study Group on Corporate Boards. Mike and Dr. Hubbard discuss the fall of great powers throughout history, whether economists are too disconnected from the real world, pro-growth tax reform, what economists agree on, the value added tax, and lots more. Dr. Hubbard Recommends: - The Economist | https://www.economist.com/ - Think tank research. Two of our favorites at The Politics Guys are the right-of-center American Enterprise Institute (http://www.aei.org) and the left-of-center Brookings Institution (https://www.brookings.edu/) Dr. Hubbard's Website: http://glennhubbard.net/ We hope you’ll consider checking out the sponsor of today’s show: SeatGeek. Politics Guys listeners get $20 dollars off their first SeatGeek purchase. Just download the SeatGeek app or go to http://www.seatgeek.com and enter promo code POLITICSGUY. Listener support helps make The Politics Guys possible. If you’re interested in supporting the show, go to http://www.politicsguys.com and click on the Patreon link.
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