00:00Give us your sense of the scoring, as it were, on that bill, because I know you're concerned about the deficit.
00:06A lot of people are concerned it's not helping us that much of the deficit.
00:08Well, I think this bill is very important because, as I've said, our economic policies, Trump's economic policy is really a three-legged stool.
00:22So it's trade, taxes, and deregulation.
00:25So this tax bill, first step, making it through the House, I think the permanence in the bill from 2017 is going to give, everyone's talking about, oh, there's not enough certainty now.
00:40Well, what I can tell you is this permanence is going to give great certainty.
00:45And I think the scoring, you and I have talked about it quite a bit, it's Washington-style scoring, and it's not real-world scoring.
00:54What I am concerned about, or have been concerned about, are we controlling expenses?
01:01Yes.
01:01Are we going to grow the economy and accelerate the economy and stabilize and then bring down the total debt to GDP?
01:10And I think this bill does a great job of that.
01:13As you told us more than once, one of your goals is a deficit that's no greater than 3 percent of GDP.
01:20The scoring, the predictions on this bill, as it's written right now, is 7 percent, maybe 6.5 percent next year, not anything close to 3 percent.
01:29Now, you said we won't get there right away, but when will we get there?
01:32Well, David, what I've talked about is something with a three in front of it by 2028.
01:38We didn't get here overnight.
01:39We're not going to get there tomorrow, but what we've got to do is change the trajectory and start moving it down.
01:48So, you know, could we get down to 6 percent, something below there with a five handle?
01:56Because what the scoring doesn't include, we have substantial tariff income coming in, so that's not included.
02:06We have those savings in the hundreds of billions, that's not included.
02:11And then President Trump has made this very bold proposal on prescription drug pricing, which could save HHS substantial amounts of money.
02:24So none of those are included, so I'm very optimistic.
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