4.8 • 1.9K Ratings
🗓️ 16 April 2020
⏱️ 65 minutes
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0:00.0 | I'm just delighted that we have three great economists and one of the strongest labor leaders in the country. |
0:10.0 | So I want to welcome to the panel tonight, Stephanie Kelton, who is a professor of economics and public policy at Stony Brook University. |
0:20.0 | And Stephanie and I have worked together for a number of years. |
0:24.7 | In fact, she was the head of our Budget Committee |
0:28.1 | and the United States Senate of where I am the ranking member. |
0:32.0 | We can hear from Jeffrey Sachs. Jeff is a professor author and advisor to governments |
0:38.1 | around the world and to the United Nations. We're going to hear from Robert Reich. |
0:43.0 | Robin is the former U.S. Secretary of Labor from 1993 to 1997 and is today a professor of public policy at the University of California in Berkeley. |
0:57.0 | And we're going to also hear from Sarah Nelson, who is the International President for the Association of Flight Attendance and has held that position since |
1:07.0 | 2014. |
1:10.0 | So I see Robert on the screen here. |
1:13.0 | Robert, let me start with you. |
1:15.0 | What is the state of the economy today? |
1:17.0 | What do you expect will be happening in the months to come? |
1:20.0 | Well, sadly, Bernie, jobs are hemorrhaging. You alluded to this, but the actual |
1:27.4 | official numbers we don't have yet, unofficially, I would say we're hitting |
1:31.7 | rapidly toward about 15% unemployment. |
1:35.0 | We could get up to, well, I hate to say it at the present rate, |
1:39.1 | we could get up to 25 or even 30% unemployment. |
1:42.3 | Just to give you a context, during the Great Depression of the 1930s, |
1:46.0 | we had 25% unemployment. |
1:48.0 | That means that if nothing changes in terms of our current trajectory, |
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