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Administration in 1984 when we said morning in the america. democrats are going to say what you have is a high, it's not going to last. that argument will be played out over six months. i'm pretty optimistic that the boom will continue throughout 2018. >> business sentiment small and large is up. cbo projecting that deficits are going to surpass 1 trillion by 2020. >> never believe the cbo, very important. never believe them. they're always wrong, especially with regard to tax cuts. >> never believe the cbo. it's kind of like on some level you've got to love the one you're with. the cbo is the...

In the end, trump and the gop promised the world, but they continue to be disingenuous about what they're actually delivering to the american people. >> so that was pretty good. that was pretty good. the one -- your failing was in doing that -- >> that you didn't do it? >> well, if i had done it, do you think i would have relied on the cbo for numbers? they run numbers for congress. >> you can argue that you don't like the cbo which actually kudlow, the national economic adviser south president did earlier today. let's take a look at that. >> never believe the cbo. very important. never believ...

Stand says will increase the debt by $1.4 trillion over the next 10 years. we already have a $20 trillion debt and another 1.4 trillion is a lot of money. >> i'm glad you bring it up. the cbo is required to look at static scoring only. they can't look at improvement in the economy based on having more money to invest. they can't look at businesses actually am can be back from overseas. they left the united states and moved overseas in the last 10 years. you have to stop the hemorrhage and when you bring them back in, they bring the jobs with them. they bring the investment back into the united...

Mentioned, both of those are basing in their scoring what is called a static scoring and if you cut taxes, nothing happens to the economy and no one believes that. it's a clean simple straight forward way to do it. if you cut taxes then nothing happens. everyone is trying to figure out what ek am nomically does happen. they have a well educated guess and our estimates are a .4% increase in the gdp. it's a conservative estimate. my statement is if that doesn't happen and you don't get a .4%, how do we create a back stop to create it? you are correct. that is a very big issue for me. when i put ...

Years. i know you believe in some form of dynamic scoring. i get that. why do you have some tolerance of expanding the debt now versus over the last seven years? >> so let me be very clear, chuck. if we pass this tax reform package in something like the current form we will reduce the size of the deficits and have smaller debt than we otherwise would. this bill contemplates -- compared to the current path that we're on, $1 trillion in forgone revenue without taking into account the greater economic growth, larger economy and therefore more revenue to thefederal government. the tax foundation h...