Colbert To Goolsbee: What Recession? ‘I Did Fine’ (VIDEO)

Start your day with TPM.
Sign up for the Morning Memo newsletter

Stephen Colbert talked to Austan Goolsbee last night, who is the Chair of President Obama’s Council of Economic Advisors. Colbert asked him about letting the Bush tax cuts expire, which Colbert argued would hurt the economy by not giving the wealthy more spending money: “We will put that right back into the market by investing in Chinese paper mills and Indian tech companies.”

Goolsbee argued that the U.S. tried cutting taxes for wealthy Americans “in 2001. It didn’t work,” and eventually the country wound up in a recession. Colbert was not convinced: “I did fine. And I’m middle class. Maybe those people just didn’t work hard enough.”

Watch:

The Colbert Report Mon – Thurs 11:30pm / 10:30c
Austan Goolsbee
www.colbertnation.com
Colbert Report Full Episodes 2010 Election March to Keep Fear Alive
Latest News
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: