Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Former mayor of New York, builde Blasio joining us by phone. Mayor,
thanks for making time for us. We appreciate it.
Speaker 2 (00:06):
It's my great pleasure. What incredible week were.
Speaker 1 (00:08):
San It is a lot. We have been very impressed
with everything that's been going on right now. But I
will tell you, Mayor, I'd love to talk to you
about the economic plan that was unveiled by Kamala Harris
on Friday, so if I can get your thoughts on that.
She unveiled a plan that would do several things. One
she wants to create a federal ban on price gouging.
(00:32):
She also talked about a program to give twenty five
thousand dollars to some first time home buyers and talked
about capping the price of insulin at thirty five dollars.
I'd love to ask you about those policy positions and
what you'd like to see more of in economic policy.
Speaker 2 (00:51):
I think it's extraordinarily helpful that she's moving in this direction.
You know, Joe Biden to the State of the Union
was plinty in some of the same directions, and then
on the stopped talking about it, and I was perplexed
that he did. I think the world of Joe Biden.
I think he's been one of the best presidents we've
had in a long time. But in terms of the campaign,
he just stopped talking about the vision of how to
address inflation and how to move us forward. I think
(01:13):
that's part of why folks got frustrated. I think Kamala
Harris has been really aggressive and keyed into her history
as an Attorney general as a former prosecutor by going
after the price gouging issue, which we're all seeing we're
all experiencing now. I understand some of the critique out
there about the nature of economics in a free enterprise system,
but my answer to that would be, look, this is
(01:34):
a broken reality right now. This level of inflation is
not natural. It's not just normal market dynamics. We're seeing
things double and triple and price in a matter of
a few years. It's got to be rained in and
some of it is just playing corporate greed. So the
notion of putting some real limits on and even by
the very debate over those limits, I think it's going
to constrain some of the worst impulses we've seen in
(01:57):
the corporate world to jack up prices while they had
a chance.
Speaker 1 (02:01):
Does government spending play much of a role in your
view on inflation?
Speaker 2 (02:05):
Look the whole picture and plays a role. Obviously, the
supply chain issues were part of it. The stimulus played
some kind of role, even though I'm very glad the
stimulus was as aggressive as it was. Generally, it's a
real question how the different pieces came together. But I
would remind everyone, you know, even though way too many
Americans are hurting, still, the big picture is, thank god,
(02:26):
the American economy is one of the strongest in the world.
Thank God, wages are going up, and you know, we've
seen some real progress. I think the inflation issue is
both the thing that's hurting people day to day, hour
to hour, and also it's good thank you. Also that
is profoundly, you know, confusing people because it's been demoralizing
(02:52):
to see this kind of inflation, and it needs an answer.
So I think, you know, what we're seeing is the
Vice President actually key into what folks have gone through
and speaking to their needs in a way that unfortune
I don't think pleasident Biden felt he could because he
was always having to defend the overall reality of the economy.
So I think that and obviously the focus on prescription drugs, insulin.
(03:15):
These are profound kitchen table issues, and you'll notice it's
generally not where Trump and the Republicans go, So it
just magnifies the competitive advantage of Kamala Harrison.
Speaker 1 (03:28):
Do you think that's why Biden's campaigns stumbled because the
reality that people are living every day was not necessarily
driving with the reality of markets doing really well right
now and other indicators in the economy that are good,
(03:48):
but people's kitchen table economics are not.
Speaker 2 (03:52):
I You're exactly right, you can't. You cannot tell people
look at this wonderful statistical economy they feel great about
when they themselves are hurting. Just that does not work.
It comes down to what people are experiencing themselves. And
I think Joe Biden was handcuffed by the overall challenges
(04:13):
he was facing. And it's you know, look, we all
watched the man who was incredibly vigorous in the State
of Union and now you know, six months or more
or later, was really struggling in that debate. He just
wasn't in a position to be the strong, agile voice
who could have said, I know you're hurting. Here's what
I'm going to do about it, but Kamala Harris is,
(04:33):
and I do think it added to the frustration. I
think the profound frustration was that folks started to worry
the president couldn't fulfill the role, even though his intentions
were extraordinary and his accomplishments were great. But on top
of that, he just wasn't speaking forcefully to the suffering
and offering a vision. Now, ironically, the only person who's
really talking about a way to a lower prices is
(04:53):
Kamala Harris. After all the blusser from Donald Trump, the
one thing he talks about is tariffs, and those are
actually going to be additionally inflationary in a big way.
If you put those tariffs on the prices of a
lot of things that Americans depend on go through the roofs.
Speaker 1 (05:09):
What would you say to Americans? I mean, I'm a
deficit hawk by nature. I've been a deficit hawk for years.
I was very disappointed with the explosion of the deficits
during the Trump administration. But what would you say to
someone like me who hears a new spending plan twenty
five thousand dollars for housing and I think, holy crap,
how are we going to pay.
Speaker 2 (05:26):
For all this well, I think there's always a central
question when it comes to definite spending about what is
the revenue impact and what's the macroeconomic impact. And you know,
I'm a kingsy in myself, so I would say, if
if the spending will have those bigger impacts, and that's
not always the case, but if it will, then you
(05:47):
have to look at in that perspective. I think if
you see a boom in construction and rehab of housing,
that's going to trade a lot of economic activity, jobs
and tax revenues. Also, let's face it, we are in
a tenuous position where so many Americans are paying an
unlordly amount of godly I should say, amount of their
(06:08):
income in housing or just can't find housing anywhere near
them their works. You're seeing it all over the country,
especially out West, all sorts of places where people can't
even find housing where the jobs are. So we got
to address that fundamentally. I think what she's doing is
the smart and responsible thing. It would probably get moderated,
to say the least, in the congressional process, but right now,
(06:32):
and I always tell this as mayor, when you see
basic human needs going on, net on met like the
fundamental need for people that have housing. You can't do nothing.
You got to try and find a way that is
not going to blow up a deficit but still addresses
the issue.
Speaker 1 (06:47):
Or former Mayor build at Lasia of New York. We
are out of time, but I very much appreciate you
making time for us today and I hope you enjoyed
the rest of the convention.
Speaker 2 (06:55):
Well, thank you, I will and said best to you.
Former mayor of New York, builde Blasio joining us by phone. Mayor,
thanks for making time for us. We appreciate it.
Speaker 2 (00:06):
It's my great pleasure. What incredible week were.
Speaker 1 (00:08):
San It is a lot. We have been very impressed
with everything that's been going on right now. But I
will tell you, Mayor, I'd love to talk to you
about the economic plan that was unveiled by Kamala Harris
on Friday, so if I can get your thoughts on that.
She unveiled a plan that would do several things. One
she wants to create a federal ban on price gouging.
(00:32):
She also talked about a program to give twenty five
thousand dollars to some first time home buyers and talked
about capping the price of insulin at thirty five dollars.
I'd love to ask you about those policy positions and
what you'd like to see more of in economic policy.
Speaker 2 (00:51):
I think it's extraordinarily helpful that she's moving in this direction.
You know, Joe Biden to the State of the Union
was plinty in some of the same directions, and then
on the stopped talking about it, and I was perplexed
that he did. I think the world of Joe Biden.
I think he's been one of the best presidents we've
had in a long time. But in terms of the campaign,
he just stopped talking about the vision of how to
address inflation and how to move us forward. I think
(01:13):
that's part of why folks got frustrated. I think Kamala
Harris has been really aggressive and keyed into her history
as an Attorney general as a former prosecutor by going
after the price gouging issue, which we're all seeing we're
all experiencing now. I understand some of the critique out
there about the nature of economics in a free enterprise system,
but my answer to that would be, look, this is
(01:34):
a broken reality right now. This level of inflation is
not natural. It's not just normal market dynamics. We're seeing
things double and triple and price in a matter of
a few years. It's got to be rained in and
some of it is just playing corporate greed. So the
notion of putting some real limits on and even by
the very debate over those limits, I think it's going
to constrain some of the worst impulses we've seen in
(01:57):
the corporate world to jack up prices while they had
a chance.
Speaker 1 (02:01):
Does government spending play much of a role in your
view on inflation?
Speaker 2 (02:05):
Look the whole picture and plays a role. Obviously, the
supply chain issues were part of it. The stimulus played
some kind of role, even though I'm very glad the
stimulus was as aggressive as it was. Generally, it's a
real question how the different pieces came together. But I
would remind everyone, you know, even though way too many
Americans are hurting, still, the big picture is, thank god,
(02:26):
the American economy is one of the strongest in the world.
Thank God, wages are going up, and you know, we've
seen some real progress. I think the inflation issue is
both the thing that's hurting people day to day, hour
to hour, and also it's good thank you. Also that
is profoundly, you know, confusing people because it's been demoralizing
(02:52):
to see this kind of inflation, and it needs an answer.
So I think, you know, what we're seeing is the
Vice President actually key into what folks have gone through
and speaking to their needs in a way that unfortune
I don't think pleasident Biden felt he could because he
was always having to defend the overall reality of the economy.
So I think that and obviously the focus on prescription drugs, insulin.
(03:15):
These are profound kitchen table issues, and you'll notice it's
generally not where Trump and the Republicans go, So it
just magnifies the competitive advantage of Kamala Harrison.
Speaker 1 (03:28):
Do you think that's why Biden's campaigns stumbled because the
reality that people are living every day was not necessarily
driving with the reality of markets doing really well right
now and other indicators in the economy that are good,
(03:48):
but people's kitchen table economics are not.
Speaker 2 (03:52):
I You're exactly right, you can't. You cannot tell people
look at this wonderful statistical economy they feel great about
when they themselves are hurting. Just that does not work.
It comes down to what people are experiencing themselves. And
I think Joe Biden was handcuffed by the overall challenges
(04:13):
he was facing. And it's you know, look, we all
watched the man who was incredibly vigorous in the State
of Union and now you know, six months or more
or later, was really struggling in that debate. He just
wasn't in a position to be the strong, agile voice
who could have said, I know you're hurting. Here's what
I'm going to do about it, but Kamala Harris is,
(04:33):
and I do think it added to the frustration. I
think the profound frustration was that folks started to worry
the president couldn't fulfill the role, even though his intentions
were extraordinary and his accomplishments were great. But on top
of that, he just wasn't speaking forcefully to the suffering
and offering a vision. Now, ironically, the only person who's
really talking about a way to a lower prices is
(04:53):
Kamala Harris. After all the blusser from Donald Trump, the
one thing he talks about is tariffs, and those are
actually going to be additionally inflationary in a big way.
If you put those tariffs on the prices of a
lot of things that Americans depend on go through the roofs.
Speaker 1 (05:09):
What would you say to Americans? I mean, I'm a
deficit hawk by nature. I've been a deficit hawk for years.
I was very disappointed with the explosion of the deficits
during the Trump administration. But what would you say to
someone like me who hears a new spending plan twenty
five thousand dollars for housing and I think, holy crap,
how are we going to pay.
Speaker 2 (05:26):
For all this well, I think there's always a central
question when it comes to definite spending about what is
the revenue impact and what's the macroeconomic impact. And you know,
I'm a kingsy in myself, so I would say, if
if the spending will have those bigger impacts, and that's
not always the case, but if it will, then you
(05:47):
have to look at in that perspective. I think if
you see a boom in construction and rehab of housing,
that's going to trade a lot of economic activity, jobs
and tax revenues. Also, let's face it, we are in
a tenuous position where so many Americans are paying an
unlordly amount of godly I should say, amount of their
(06:08):
income in housing or just can't find housing anywhere near
them their works. You're seeing it all over the country,
especially out West, all sorts of places where people can't
even find housing where the jobs are. So we got
to address that fundamentally. I think what she's doing is
the smart and responsible thing. It would probably get moderated,
to say the least, in the congressional process, but right now,
(06:32):
and I always tell this as mayor, when you see
basic human needs going on, net on met like the
fundamental need for people that have housing. You can't do nothing.
You got to try and find a way that is
not going to blow up a deficit but still addresses
the issue.
Speaker 1 (06:47):
Or former Mayor build at Lasia of New York. We
are out of time, but I very much appreciate you
making time for us today and I hope you enjoyed
the rest of the convention.
Speaker 2 (06:55):
Well, thank you, I will and said best to you.
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