Kevin Hassett
speaker
2,210 appearances
195 recordings
16 series
first heard Oct 2024
last heard 10 Aug
Kevin Hassett’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 154 in all, peaking in May 2026 with 38.
Appearances
So if you wonder how are we doing, we prefer to talk about calendar year rather than fiscal year because then we don't get blamed for the quarter where they're shoveling money out the window.
And if you look at that, then year over year, calendar year, we're down $390 billion.
And it extrapolates to maybe six for the year.
And about a third of it is higher revenues, tax revenues, because of higher growth.
About a third of it is tariff revenue.
And about a third of it is reduced government spending.
But if, you know, if we stay on path and cut the deficit by 600 billion, that's, you know,
with a little bit of growth, you're looking at 7 or 8 trillion over 10, that's like a very significant event that reduces inflation with a big macroeconomic punch to inflation.
And so against that backdrop, when it was July, we hadn't seen all this positive development yet.
And so when we
We're negotiating with Congress with a big, beautiful bill.
Then it was the position of the president that the tariff revenue should just buy down the national debt.
But we're making so much progress on reducing the national debt that I think it's fair to think about what other policies we might pursue and like a reconciliation next year.
and with all the tariff revenue that's coming in, without causing a stagflation, I think it would definitely be on the table to think about how that might be rebated to some people.
Well, it would require legislation.
Well, I mean, what we've done so far this year, as you concede, is we've made an enormous amount of progress.
But there is still, you know, let's say that if the progress that we see, you know, were to persist next year, that we'd still have only made up about half.
the ground that we need to make up to get to three.
But given that we've made so much progress this year, I think I'm highly confident that we have a team that has a well-identified goal from Scott and from the President and we'll work it out.
But it'll have to be worked out with Congress and future spending restraint and I think that the tariff revenue will continue and that if we get
Showing 1541–1560 of 2,210 · page 78 of 111
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