Lawrence: Donald Trump is proposing the ‘worst economic policy in U.S. history’

The Last Word with Lawrence O’Donnell

Lawrence O'Donnell, MS NOW

Politics, Washington, Congress, News, Ms Now, President, Versant Media, Policy, Versant, Government, Senate

4.5 • 6.4K Ratings

🗓️ 20 June 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Tonight on The Last Word: Economists warn Donald Trump’s tariffs would hurt families. Also, several Texas cities move to restrict interstate travel for abortions. Plus, ostracized Vladimir Putin is forced to seek an alliance with North Korea. And Democrats fight to keep control of the Senate in November. Robert Reich, Rep. Colin Allred, Richard Stengel, and Ira Shapiro join Lawrence O’Donnell.

Transcript

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0:00.0	Now it is time for the last word with Lawrence O'Donnell. Good evening,
0:04.7	Lawrence. Good evening, Alicia, and I just managed to turn off my cell phone just
0:09.5	just as you were turning to me.
0:12.6	Just in Todd.
0:13.9	Just in time.
0:14.9	I love it.
0:15.6	Have a great night.
0:16.5	Thank you very much.
0:18.5	Reed Smoot was elected to the United States Senate in
0:22.8	1992.
0:24.6	No voter ever saw his name on a ballot.
0:29.6	Reed Smoot was elected to the Senate the old-fashioned way, the way the founders thought
0:34.4	senators should be elected. The state legislature chose and voted for Reed Smoot to go to the United States Senate to represent the state of Utah.
0:48.0	In his 30-year career as a senator, Reed Smoot rose to the most powerful chairmanship in the Senate,
0:55.5	chairman of the Senate Finance Committee, with jurisdiction over the federal
0:59.2	government's two ways of raising revenue, bringing money into the Treasury, taxation and tariffs.
1:11.3	With the stock market crashing in 1929 and the country entering the Great Depression, Reed
1:16.2	Smoot had the worst idea any chairman of the Senate Finance Committee ever had. It was an idea that would end his
1:25.7	career in the Senate. The House Ways and Means Committee had the same
1:30.9	jurisdiction in the House that the Finance Committee has in the Senate, taxation and tariffs.
1:38.0	The Chairman of the House Ways and Means Committee, Willis Hawley, loved Reed Smoots. Very bad idea. That idea also ended Chairman
1:49.4	Holly's career in the House of Representatives.
	...

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