Exclusive - Austan Goolsbee Extended Interview Pt. 1

  • Aired:  09/06/12
  •  | Views: 75,753

In this exclusive, unedited interview, economist Austan Goolsbee recalls his struggles in government and critiques Republican economic policy proposals. (4:48)

J&J WELCOME BACK.

MY GUEST TONIGHT THE FORMER CHAIRMAN, CHAIRMAN, HE WASN'T JUST SOME DUDE ON IT,

HE WAS THE CHAIRMAN OF THE COUNCIL OF ECONOMIC ADVISORS ON UNDER PRESIDENT OBAMA

CURRENTLY AN ECONOMICS PROFESSOR AT THE UNIVERSITY OF CHICAGO, PLEASE WELCOME

BACK TO THE SHOW AUSTAN GOOLSBEE, YOUNG MAN.

(APPLAUSE)

>> Jon: SO LET ME ASK YOU,

LAST TIME I TALKED TO YOU WERE JUST LEAVING THE ADMINISTRATION.

YOU WERE ELATED, WALK ON CLOUD NINE, YOU HAVE BEEN GONE NOW FOR HOW LONG.

>> A LITTLE OVER A YEAR.

>> Jon: YOU HAVE FOLLOWED IT SINCE THEN?

>> YEAH, I'VE FOLD, LOOK,

SOME DAYS YOU MISS AND MOST DAYS YOU DON'T.

THERE IS A LITTLE-- I HAD AN OLD PROFESSOR AT, WHEN I WAS IN GRADUATE SCHOOL WHO USED

TO SAY A BOOT CAMP, YOU KNOW,

HE HATED IT AT THE TIME HE HATED IT.

AND THERE ARE SOME THINGS IN LIFE THAT IT TAKES YOU, YOU KNOW, A YEAR, MANY YEARS,

EVEN A DECADE BEFORE YOU GO LOOK BACK AND REALIZE HOW AWFUL IT REALLY WAS.

AND THE GOVERNMENT'S GOT A LITTLE OF THAT.

A LITTLE OF THAT FEATURE TO IT.

>> Jon: I FIND THAT TYPICALLY THAT'S WHAT PEOPLE SAY TO SOMEONE WHEN THEY'RE

TRYING TO MAKE THAT PERSON FEEL BETTER ABOUT WHAT THEY'VE SPENT THEIR LIFE DOING.

YOU KNOW WHAT I MEAN, LIKE IT'S ALWAYS THE DRILL SERGEANT, YOU GO BACK AND

SAY HEY, MAN, I NEVER APPRECIATED WHAT AN [BLEEP]

YOU WERE.

BUT NOW THAT I HAVE MY OWN KIDS I'M LIKE, YOU'RE GREAT.

YOU KNOW THAT KIND OF THING.

IT'S ALWAYS THAT KIND OF,

IT'S THAT AMBIVALENCE THAT YOU HAVE.

>> YEAH, NO, BUT I'M SAYING,

YOU LOOK BACK IT STILL SEEMS LIKE IT WAS JUST AS BAD.

(LAUGHTER)

>> Jon: YOU HAVE NOT TURNED THE CORNER YET.

>> YEAH, REALLY, YOU HAVEN'T TURNED THE CORNER.

AND THAT'S OKAY.

>> Jon: BUT YOU ARE BETTER OFF THAN YOU WERE FOUR YEARS AGO, YOU --

>> I AGREE.

LOOK, I HAVE LARRY DAVID HERE I WOULD TELL HIM WE'RE A LOT BETTER OFF THAN WE

WERE FOUR YEARS AGO.

I MEAN I THINK-- .

>> Jon: YOU WANT ME TO BRING LARRY OUT.

TELL ME.

WHAT WAS IT THAT WAS SO DIFFICULT.

THE FIRST DAY WHEN DEMOCRATS GOT THAT QUESTION AFTER THE REPUBLICAN, ARE WE BETTER OFF.

THEY SUDDENLY WERE ALL JACKIE MASON, WHAT IS BETTER,

BET CERTIFICATE HERE, I DON'T KNOW --

>> I'M NOT-- I HAVE A Ph.D IN ECONOMICS.

I'M NOT LIKE THE MESSAGE GUY,

WHAT ARE YOU ASKING ME FOR.

BUT THE MOMENT, I WAS THERE IN THE MOMENT WHEN WE COME IN, AND THAT WAS A HORRIBLE,

THAT WAS ABOUT THE WORST FOUR OR FIVE MONTHS IN THE ECONOMIC HISTORY OF THE UNITED STATES.

THE STOCK MARKETS COLLAPSING,

NET WORTH OF PEOPLE DOWN 40,

50%, IN A COUPLE MONTH PERIOD.

I'M GETTING CALLS FROM PEOPLE IN THE ECONOMICS PROFESSION SAYING WHAT IS

THIS IS HOW THE DEPRESSION BEGAN AM COME UP WITH PLAN B.

ONCE THE DEPRESSION STARTS THEN WHAT ARE YOU GOING TO DO.

THE THOUGHT THAT SOMEBODY WOULD SAY OH, YEAH, I WOULD LIKE TO SWITCH PLACES FROM

NOW TO GO BACK THEN WHEN WE'RE LOSING 800,000 JOBS A MONTH IS LIKE A JOKE.

WERE THEY ASLEEP.

THERE THEY WERE ON VACATION,.

>> Jon: IT IS LUDICROUS.

BUT WERE THEY ASLEEP IS MY QUESTION.

>> THEY MIGHT HAVE BEEN.

>> Jon: BECAUSE I WATCHED THE REPUBLICAN CONVENTION.

AND I WAS ASTONISHED, YOU WOULD HAVE THOUGHT THE REPUBLICAN PARTY FORMED

THREE AND A HALF YEARS AGO.

THAT THEY STRUNG UP-- SPRUNG UP OUT OF A WELL SPRING,

THEY ARE YOU PRODUCED BY FORCE AND THAT THERE WAS NO MEMORY OF ANY REPUBLICAN

INITIATIVES THAT HAD EVER BEEN DONE IN THE HISTORY OF THE COUNTRY.

IT WAS ALL LIKE, FOLKS,

THREE AND A HALF YEARS AGO WE WOKE UP AND DECIDED TO TAKE THIS COUNTRY BACK.

AND YOU'RE LIKE, THEY HAD THE DEBT CLOCK OUT ON THE STAGE.

AND YOU JUST WANTED TO SAY,

LIKE, HALF OF THAT IS YOURS,

RIGHT?

AND.

>> I MEAN, TO RECONCILE THAT WITH A PLATFORM WHERE THEY'RE SAYING, AND SO LET'S

GO CUT TAXES BY $5 TRILLION,

GEAR IT TO THE HIGH END,

LET'S GO-- .

>> Jon: THEY DIDN'T MENTION --

>> AS AN ECONOMIST, WATCHING THAT.

>> YEAH.

>> Jon: WERE YOU SHOCKED TO SEE THREE DAYS, YOU KNOW, 72 HOUR, WHATEVER IT IS, GO BY

WITH NO ONE MENTIONING ANYTHING SPECIFIC ABOUT THAT?

>> I WASN'T SHOCKED.

I NOTED THAT, YOU KNOW, I DIDN'T-- IT WASN'T OVERLY POLICY FOCUSED, YOU KNOW.

IT WAS-- SO THE THING IS,

THAT WAS-- .

>> Jon: THAT WAS VERY POLITE.

>> THEY GOT THEIR PROGRAM UP ON THE WEB.

YOU CAN GO LOOK AT IT.

AND I MEAN, FAR IT BE FROM ME.

I ENCOURAGE EVERYBODY TO GO READ IT.

THEY KEEP SAYING IT'S A SPECIFIC PLAN.

IT'S NOT SPECIFIC AT ALL.

THE SPECIFICS ARE LIKE MAKE AMERICA BETTER.

>> Jon: HONESTLY IT READS LIKE A LETTER TO SANTA CLAUS.

LIKE-- IT'S A WISH LIST.

YOU GOT A COUPLE MINUTES.

WE'RE GOING HAVE MORE WITH AUSTAN GOOLSBEE WHEN WE GET BACK UP ON THE WEB.

WE'LL GET THAT.

(APPLAUSE)

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