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Punching against his own fed chair more aggressively than he has in the past and then saying that this afternoon he s going to retaliate to china s retaliation on trade. you know, let s dial back to the beginning of the week, ali, if we might. i have to characterize it as a bit of a chaotic week for the white house in terms of economic policy. we began maybe i guess i ll call it with the greenland stimulus package which, seemingly, went nowhere. then there was discussion about whether there would be a tax cut, a payroll tax holiday of some sort. it was on the table. it was off the table. we need it, no, we don t need it, the economy is fine. and talk about maybe lowering or indexing capital gains taxes. and then we fast forward to this morning when the chinese announced that they are going to put a 10% tariffs on a lot of u.s. goods beginning september 1 to match the tariffs that the united states announced some weeks ago. this clearly inflamed the president. he didn t like it. ....
In 2011 barack obama worked with republican congress to pass a payroll tax holiday to put about a thousand dollars in the pockets of every american family, the average american family. the difference between now and then is obama has leverage because the bush tax cuts were expiring. he cut a deal with republicans to extend the bush tax cuts for everybody but the people at the very top and to do this payroll tax thing, trump has no such leverage with the democrats. nancy pelosi isn t going to pass a payroll tax cut and give them a economic stimulus going into the election. sandra: very interesting, talk about the economy and how exactly it looks. there are big questions coming from both sides, both sides are making strong cases. i want to go now to this talk about greenland. what do you make of all this? now the president said he won t go to denmark because they kind of sad, he can t be serious about this. should it be taken seriously? ....