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Transcripts For CSPAN2 Key Capitol Hill Hearings 20131119

Youre watching live coverage now here on cspan 3. Chairman furman, welcome. Both vice chair klobuchar and i appreciate your willingness to reschedule this hearing. Im hopeful that youll resume the long standing practice that chairman of the council of economic advisers testing before the jec. Welcome today. We are all pulling for a strong recovery. Too Many Americans of all ages and all races have simply given up hope of finding a fulltime job. Now, four full years after recession ended, while some parts of the nation are making progress, the current recovery remains the weakest among all post1960 recoveries in every major measure of economic performance. Generating a troubling, and we think dangerous, growth gap. While real gdp has grown by 10 since the recession ended, thats just barely above onehalf the growth in average recoveries over the same period. Producing a growth gap of 1. 3 trillion in the economy. For families the gr ....

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Transcripts For CSPAN2 Key Capitol Hill Hearings 20131114

Very high and is persistent and woringly so in terms of the human cost and the long term cost for our economy. You testified before that not all cuts are the same. And that there are some ways in which we are cutting that are hurting our long term competitiveness. They produce longer term reductions in our capacity and that we should be prioritizing things that will accelerate growth, that we should not be simply trying to get through this difficult fiscal time in a way that focuses on austerity. We should be investing in a way that sustains growth. What types of policies in your view could both help accelerate growth and do so in a way that would deal with long term unemployment . And what are the budget airy implications for long term unemployment . The first part of your question, senator, of all nondefense Discretionary Spending, half represents investment of some sort about 20 of nondefense
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