YouSaid · the spoken record

Austan Goolsbee

lines on the record: 91
first: 2018-09-03
most recent: 2018-09-03
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“They did some, they did some on the investment side In my view, as you know, when we were in the White House from early on, I'm not against lowering the corporate rate. I just wanted them to pay for it. Just take two hundred dollars”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“It kind of seems like how do we Square that circle, the answer was because we had long ago we, the economists, had long ago said that the highest bang for the buck is to use your money to incentivize investment. Don't just cut the corporate rate and give a windfall to a bunch of stuff that's already been built”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Mostly it's going to just do that. It's just going to be a handout of money for investments that they already made. So if you say, how did we have a system where we had the highest corporate rate on the books in the world, but the actual taxes paid by our corporations were no higher than average? And corporate profit as a share of GDP was at all-time record levels.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Think the jury's still out. We don't know which it is. If you thought it was about globalization, There was one group that it kind of feeds back into the tax cut. Where they said, ah, what's actually happening is these companies are making money, but the money's offshore. And if you would just give them a way to bring all that money back, then they will raise the wages. I kind of think The tax cut proved that it wasn't that because my summary of what happened in the tax bill is you gave something like two trillion dollar tax cut, mostly to big corporations, some part to high income people, very modest to everyone else.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Unions are percentages, concentrations are up really across the board in a lot of industries. And those guys kind of argue we ought to have tougher antitrust enforcement and breakup monopolies and stuff like that.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“And I've kind of been skeptical. And then there's another, which is about bargaining power that worker bargaining power companies have gotten more concentrated and they're able to kind of squeeze more out. They don't have to share their profits.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Second group says that it's just mismeasurement and maybe wages actually are up, what the economists call composition bias. There's some arguments about that. There's some groups that say it's about globalization or technology or for whatever reason they're not.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Unemployment has plummeted. That's a big puzzle, and the economists are arguing about that a lot because it does seem like the job market is very healthy. The unemployment rate at least looks low. The number of jobs created has slowed a bit from the end of the Obama administration, but it's still pretty strong. The hypotheses Include one, that the unemployment rate isn't doesn't mean the same thing as it used to mean, that 3.8% with as many people with the share of out of the labor force being bigger than it ever was before, 3.8% today is whatever is the old 4.8% or something so that maybe there's still some slack in the labor market.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Look, I think the long term impact, in my opinion, is going to be relatively modest. And the fact that when they sold the tax cut, it was on the grounds, ah, we're going to do this and it's going to raise the average worker's wage by $4,000 and then real wages are at best stagnant and I think since the tax cut's been enacted real wages actually might have fallen. And if you say, well, you know, hashtag, where's my $4,000, then they kind of say, well, no, we never meant that it was going to be right away. And who told you that wages were going to go up? I think that's exactly what you would have expected, and that's what you got.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“We just went down that road. Yeah, we just went down. That's what I was going to say. I can't, it's a hard to know what to make of a world where we just do that again and then it doesn't do what they promised it was going to do. And then they come back and they say, oh, let's do it. And you say, wait, we just did that. It didn't work. And they say, no, no. And they do it again. And then we just, you know, since we're.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Massive economic activity, or at the least it's going to lead high income people to report a lot more income if you lower the rate. I, along with a bunch of others, did a series of papers of economic research looking at the history of that. The history doesn't back that up at all. I think if you look at it, the history is quite clear that that's not the case.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“The other is about tax is just bread and butter, public economics and the role of government. And my research was critical, not in a personal way. Marty Feldstein is a giant of the field. He's got some academic research which kind of pointed to something like a laugher curve type argument. They say, Look, supply side economics. Supply side economics style stuff. Tax cuts can pay for themselves, tax cuts are going to generate.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, in my own research, I kind of have two areas one's about industries and the internet. We're going to get to that too.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“But they actually love each other. And, you know, conservatives and liberals' behavioral and neoclassical. And they're arguing, but they really care. And they care about each other personally. It's a ferment that has hatched a lot of amazing thinkers. It's really quite a place. And I kind of think that Obama certainly had that vibe in 2006 and 2007 and 2008 when he's running. The ability to say, okay, look, here's a different perspective and I can describe your point of view in a way that you don't find insulting and you don't want to interrupt me and go, no, no, no, that's not what I think. You say, yes, I do agree with that. And here's the part where I don't agree. That's a discipline that comes out of an environment where there's healthy debate.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“That's true too. And it's one of the only places. And I kind of think that when President Obama President Obama was kind of a creature of the campus in the sense that University of Chicago is one of the last places in the academic firmament where there are still people with a lot of different views, both in politics. There's conservatives and liberals, you know, especially among the economists. But also within economics there's micro and macro and behavioral people and neoclassical people and it's one of the only places left where they're going down into the seminar room every week. And as they say here, Chicago's a place where the seminar is a full contact sport. And they're in there and they're hammering it out.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Got a job. I came out here and I fell in love with the city. I fell in love with the university. And now you can't blow us out of here with dynamite. I mean, it's...”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“They wanted to either have nothing to do with me or You make clear that I don't know. It was totally In a way, love at first sight at the university. I had been to Chicago maybe one time in my life in our improv groove, went on tour one spring break. I was in Chicago. We played up at Second City and that. So that was all I knew about Chicago. Absolutely. It was amazing. That's the only part of the city that I'd ever been to.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Yet not totally well. There was one guy that I had gone to college with and one guy I went to high school with, and they were particularly...”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“And I would say both Grover and I were about as funny as what you would expect that DC's funniest celebrity contest. You know, I was the last one to speak. It was supposed to go an hour or something and it was like two and a half hours in My wife was there, and she leaned over before I went in, and she was like, honey, if you can't beat these people, you're going to have to slink out of here because nobody's got a laugh the entire night.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Tallest midget, but they're actually funny people in Washington. That was a contest. And as I say, it's true. I won the contest, and the runner up was Grover Norquist. Who ended up winning in subsequent years? Grovers. Grover is fine.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Product of being an only child, did you have to entertain yourself to be emotionally stunted? That was kind of my coping mechanism for everything, you know.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Look, I don't know. People underestimate Ted. Nobody's better. Nobody was better then. It's setting a trap and working it through beforehand. Ah, I'm going to say this and he's going to respond that and then Ted'll drop it on him and he does his homework and he's very skilled. So everybody should. You know, take a deep breath. If you're going to go down and try to out debate Ted Cruz, you better, but you could out needle.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“EPA regulation or something. And somehow he would find a way to tie in that his father had swam to this country from Cuba with no money in his pocket or something. And so I would start, I would make jokes. In this, you're not debating directly to each other, you're debating in front of a judge. So I would get the judge. I don't know what I get to judge laughing kind of at Ted and then that would really make a man. So have you been?”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Which is to say, look Ted was. He was definitely out looking for himself, you know, at that time. He had a lot of pride, and that was, in a way, how I'd get him. Many of our rounds would end with Ted red in the face. How dare you? He would start, whatever we'd be debating.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“And so the very first day I walk in. I pick up the little jar of those heartworm things and the dog just goes. I was like, okay, I'm done with that. I'm sorry if that dog dies of heartworm, but the dog didn't, obviously, because your career progressed.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“He looked like a middle linebacker, and he said, okay, here's the thing you're going to have to give this dog a heartworm pill. And I said, okay, what do you put it in peanut butter or something? No, no. He said he tasted. He'll spit it out. What you got to do is this. He kind of grabs the moral of the neck like a lion tamer. He shoves the thing down his throat. And the dog's like. And he says, you just do that each morning.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“and dist another really super decent Midwestern guy. And I grew quite close with him. And he would go to northern Wisconsin every summer and I would take care of his house and his gigantic Newfoundland dog probably weighed 125 pounds”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. Well, I mean, I was a high school student. He helped me get a job as a research assistant for a guy at the Boston Fed. So when I was in high school, I was going over there and working on some economic stuff. And actually, he chip took me to a academic seminar that was on housing back then in the dinosaur days. And it was a paper presented by his co-author, Bob Schiller, who would later win the Nobel Prize and a bunch of the economists, famous economists we know. At that time, we're at that seminar. And it was just a funny, that was a funny moment. But Chip was a great mentor. And then when I went to college, I had some amazing teachers. And I kind of never looked back. So economics was. For me from the beginning.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“So it said we can control for the quality of the house because it's literally the same house. It was sold this year and two years later, was sold again. How much did it go up? And so that started really all of these repeat sale home price indices, as they call them, which are the gold standard for how do you measure what's happening now.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“We were looking at it religiously when the housing market collapsed. Okay, so the K. Schiller home price index, Chip Case and his wife Susie Case, who taught at my high school are two of the just chip case passed away now, but they were just two of the most greatest people that you could ever meet. Now chips, case chiller price index is a measure for most of the large housing markets of the country. They track the exact same house when it's sold and then resold as a way of kind of measuring the consumer price index of houses.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“No, the middle linebacker is a guy who has to call the plays, and they ask the coach asked on day one, who's the loudest. Everyone pointed and said, that kid. And that's how I got. So you called the play and said, okay, guys, let me know how it turns out. Everyone go left. And I'd be going right.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Sitting across the table from me. And so I would like to say that that's because everyone knew I was the toughest SOB alive, but it was actually because the...”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“I loved math and science and I was big on the speech team and politics even then and I was like why was that? Is it just coming from Richard Nixon's hometown? Where was that? Maybe I was just, you know, I was too loud always.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Better education, they didn't know that much about it, but they thought. Those are supposed to be the best schools anywhere. So, you know, if you can go to that, maybe we should go look at them. We visited, I went to the school Milton that's outside of Austin. We visited. On a day, and my mom said, you know, I like this school. There's a girl in football pads. It's probably co-ed football team. That's great. And my dad looked and was like, I don't know. There's someone with a siren light on their head. And it was known as Space Day. It was like the costume day.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Is that right? Okay. So, you know, it wasn't as extreme as that. I think my parents were kind of like, wait, this doesn't make sense. Why does it? Isn't there a better? I don't think it was, Jale. Actually, I think that's where he went to law.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“To me, they may really have sent you away. See, I shouldn't have said that. As an only child, my parents put a huge value on education. And the schools where we were weren't that great, I was through a Through an odd program, I had been identified when I was young and moved into some accelerated track. And this program was trying to encourage people to graduate from high school tremendously early and go to college as a kid. So I was on path to graduate from high school when I was 13 or 14 or something. Same kind of healthy. Yeah, it seems unhealthy in my parents. We did a show with Ronan.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, 25 years maybe. She worked at the phone company. She did different things. She was a trainer. She was spunky. She's a spunky broad.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Not as far as I know. And now my parents retired back to Abilene, Texas. Oh, is that right? Yeah. So we still get to go back and see the old country.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“They were the ghouls bees are kind of proof that Times that seem like everyone is famous like revolutionary wartimes. It's not truth. Goulsby's are proof. They were there. They never did anything. There's barely any record of them as they go through the censuses that Goulsby's, if my last name is spelled, kind of funny. They were illiterate, and so their name just kept getting changed as they fill in by whoever's the census taker. So some people will look at that and say, that's totally phonetic. And it is, but not by accident. That's how it got there.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“He had a law degree, but he was in business. So they ran a trucking company. I mean, this is, I was a little kid, so I don't. Looking back, I think it was trucking was heavily regulated to 1978. Maybe the company lasted to 1978. And then my dad moved to, he worked for a company that made the truck trailers, not the front of the truck, but the trailers. And so I mostly grew up there and then they”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source
“Ghoulsby's my dad's family is from Waco, Texas. My mom's family was from Abilene. I was born in Waco. They moved to California when I was a kid. Why? My dad was working for his brother. His brother ran a trucking company in California.”
2018-09-03 · The Axe Files with David Axelrod · Ep. 266 — Austan Goolsbee · IDENTIFIED FROM THE TRANSCRIPT · source