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Back at the 2% long-term level that he inherited from president obama, the deficit's gone up and we've seen that corporations have substantially reduced their tax bill. that doesn't mean lowering the corporate tax rate may not have been a good idea. we had a high nominal rate compare today the rest of the world but, of course, they didn't close loop holes sufficient to pay for that finance. that's why the deficit has gone up so much. >> the argument that republicans, and in particular trump, made was that if we reduce the tax burden on these companies, they'll come back and invest in america, ...

Obama, the deficit's gone up and we've seen that corporations have substantially reduced their tax bill. that doesn't mean lowering the corporate tax rate may not have been had a high rate compared t the rest of the world but, of course, they didn't close loop holes sufficient to pay for that finance. that's why the deficit has gone up so much. >> the argument that republicans, and in particular trump, made was that if we reduce the tax burden on these companies, they'll come back and invest in america, hire more worker, manufacture more. that, in turn, produces more results for the economy. h...

Recession comes, the downturn comes before his election. so he's set up the fed, he's set up xi jinping, anyone but himself, the chosen one as he says, anyone to blame. >> it sounds biblical. let me ask you about something that i don't understand. i know keynesian economics. a big tax cut, a lot more money to spend, they spend a certain percentage of it and you get economic growth. you have increased growth. but what happened this time, the zillion dollar tax cut, why didn't it work? is the money just being used to buy back stock by corporate leaders? where did it go to, all this money, or is ...

So he's set up the fed. he's set up xi jinping. going to set up the democrats in congress. anybody but himself, the chosen one, as he says. anyone but himself to blame. i think that's what this is all about. >> it sounds biblical. let me ask you about something i don't understand. i know keynesian economics. everyone at this table knows it. a big tax cuts means a lot more money to spend. they spend a certain percentage of it and you get economic growth. you have increased growth. but what happened this time? this zillion dollar tax cut, why didn't it work? is it money just being used to buy ba...

Economy, we don't have those in place because donald trump gave away a trillion dollars in his tax bill, largely in corporate tax cuts, tax cuts to the wealthy. the fed already has low rates. donald trump is looking for other people to blame if the recession comes, the downturn comes before his election. so he's set up the fed. he's set up xi jinping. going to set up the democrats in congress. anybody but himself, the chosen one, as he says. anyone but himself to blame. i think that's what this is all about. >> it sounds biblical. let me ask you about something i don't understand. i know keyne...