CNN’s Tapper to Kevin Hassett: How Do You Square Saying, ‘We Still Have a Lot of Work to Do’ With ‘We’re Living in the Greatest Economy in Your Lifetime’

RUSH EXCERPT:
HASSETT: "Well, okay, so people are losing their jobs at the lowest level since world war two. Losing your job is a really bad thing. To have to happen to somebody. And the labor force is way bigger than it was back then. So that‘s a remarkable piece of data. You know, Keynes argued that the business cycle is being driven by investment fluctuations. We‘ve got capital investment in the us about the highest I‘ve ever seen. And so we‘ve got all the cyclical things that we normally look at saying that this is an economy that‘s in lift off stage. And so yeah, I stand by it. I think the other thing is with AI, we‘ve got lots of estimates that say that productivity growth is around two, 2.5% right now, which is sort of core growth rate you should have in a typical year going forward, even before you spend money on new machines and new workers"