Paul Krugman

  • Aired:  02/06/14
  •  | Views: 20,785

Pulitzer Prize-winning economist Paul Krugman addresses the claim that Obamacare will destroy jobs and argues that the program will benefit everyone. (6:08)

>> Stephen: WELCOME BACK,EVERYBODY.

MY GUEST TONIGHT IS APRIZE-WINNING ECONOMIST, WHO

BELIEVES THAT OBAMACARE ISWORKING.

WOW.

I HOPE HE'S GOT MENTAL HEALTHCOVERAGE.

( LAUGHTER )PLEASE WELCOME PAUL KRUGMAN.

( CHEERS AND APPLAUSE ).

GOOD TO SEE YOU.

GOOD TO SEE YOU AGAIN.

THANKS FOR COMING BACK.

THIS IS ACTUALLY YOUR SIXTH TRIPTO THE SHOW.

>> INDEED, IT IS.

>> Stephen: DID YOU BRINGYOUR FREQUENT GUEST CARD.

>> I DID.

>> Stephen: DO YOU HAVE THAT?

>> FREE LATTE.

THERE YOU GO.

>> THANK YOU VERY MUCH.

>> Stephen: AND YOU GET A--YOU GET A FREE SUB.

>> THERE WE GO!

>> Stephen: ALL RIGHT.

NOW, PAUL, YOU KNOW WHY I HAVEYOU HERE TONIGHT.

>> RIGHT.

>> Stephen: OKAY?

BECAUSE I GET TO GLOAT OVER THEFACT THAT OBAMACARE IS A PROVEN

JOB KILLER.

THE C.B.O. CAME OUT WITH AREPORT THAT SAYS 2.5 MILLION

PEOPLE FEWER WILL HAVE JOBS BY2021 BECAUSE OF OBAMACARE.

WOULD YOU LIKE TO APOLOGIZE TOAMERICA HELPING TO PROMOTE THIS

JOB KILLER.

>> THIS IS QUITE AN AMAZINGPIECE OF-- I SEE A LOT OF MEDIA

MALPRACTICE.

A LOT OF THEM GOT IT WRONG.

THE C.B.O. DID NOT SAY THAT.

>> Stephen: YES, THEY DID?

HAVE YOU READ THE REPORT?

>> YES.

>> Stephen: I HAVE NOT.

THAT WAY I GET TO CLAIM ANYTHINGI WANT PAUL KRUGMAN.

>> WHAT THE C.B.O. SAID, WE KNOWA NUMBER OF PEOPLE WILL CHOOSE,

ONCE THEY HAVE THE GUARANTEE OFHEALTH INSURANCE, THERE ARE A

LOT OF PEOPLE IN AMERICA WHO AREWORKING EXTRA HOURS, STAYING IN

FULL-TIME JOBS, BECAUSE THEYNEED THE HEALTH INSURANCE.

THERE'S PARENTS OF YOUNGCHILDREN, THERE'S OLDER PEOPLE,

YOU KNOW, WHO ARE 63, AND NOT INGOOD HEALTH BUT THEY'RE HANGING

ON WITH THOSE FULL-TIME JOBSUNTIL THEY CAN GET MEDICARE.

WITH THE LAW IN EFFECT, A FAIRNUMBER-- SOME PEOPLE-- WILL WORK

SHORTER HOURS.

SOME PEOPLE WILL RETIRE EARLIER.

SO THE TOTAL NUMBER OF HOURSWILL BE REDUCED, VOLUNTARILY.

PEOPLE WILL CHOOSE TO WORK LESS.

NO JOBS LOST.

AND ACTUALLY THE C.B.O. SAYS INBIG-- THEY SAY RIGHT THERE.

THIS IS GOING TO BE VOLUNTARYCHOICE.

PEOPLE WILL CHOOSE TO WORK LESS.

THEY MADE THE MISTAKE OF SAYINGTHIS WILL BE THE EQUIVALENT OF

TWO MILLION FULL-TIME JOBS BEINGREMOVED.

( LAUGHTER )BUT THE NEXT DAY, THE DIRECTOR

OF THE C.B.O. WENT ON TO SAY WEARE NOT TALKING ABOUT JOB

LOSSES.

AND IN FACT, I AM-- THIS IS AGOOD THING.

>> Stephen: HE HAD TO SAYTHAT, HIS JOB WAS ON THE

CHOPPING BLOCK.

>> RIGHT.

>> Stephen: YOU THINK THEOBAMA PEOPLE DIDN'T GET TO HIM.

THE FACT OF THE MATTER IS YOUSAY IT'S BECAUSE PEOPLE WILL BE

MORE MOBILE AND BE ABLE TO LEAVETHEIR JOBS AND NOT BE TIED DOWN

TO HEALTH INSURANCE SO THEY CANWORK LESS IF THEY WANT TO.

THAT'S OBAMA'S VISION FORAMERICA.

EVERYBODY WORK LESS.

>> RIGHT.

>> Stephen: HEY!

PHONE IT IN!

EVERYBODY GETS A SNOW DAY.

( CHEERS )( APPLAUSE )

THAT'S HOW ROME FELL.

>> WE'RE GOING TO PAY FOREVERYBODY BY TAXING MOM.

>> Stephen: YOU WILL?

HOW IS OBAMACARE NOTREDISTRIBUTION OF WEALTH, OKAY?

WHY SHOULD MY HARD-EARNED MONEYGO PAY FOR SUZY SLUT'S

CONTRACEPTIVE PILLS?

I DON'T NEED THEM.

BUT "SANDY SPREAD YOUR LEGS"WANTS HER CONTRACEPTIVE PILLS OR

LUCY LUNG MACHINE.

I'M HEALTHY OR I'M A YOUNGPERSON-- WHICH I AM-- WHY SHOULD

I BE PAYING FOR SOMEBODY ELSE'SHEALTH CARE.

THAT'S NOT THE WAY INSURANCEWORKS.

>> THAT'S THE WAY INSURANCEWORKS.

IF YOU BUY FIRE INSURANCE, MOSTPEOPLE DON'T HAVE FIRES, AND

PEOPLE WHO DON'T HAVE FIRES ARESUBSIDIZING PEOPLE WHO HAVE

FIRES.

>> Stephen: I DON'T HAVEFIRE INSURANCE.

IF MY HOUSE CATCHES FIRE I'LLGET INSURANCE.

>> I THINK THE SLOGAN FOROBAMACARE SHOULD BE STUFF

HAPPENS AND IT COULD HAPPEN TOYOU.

EVERY ONE OF US IS AT RISK OFBECOMING SICK, HAVING SOMETHING

WHERE WE REALLY NEED TOINSURANCE TO PAY FOR IT.

INSURANCE MARKETS DON'T WORKWELL.

IF WE WANT TO HAVE A SYSTEMWHERE AMERICANS HAVE A BASIC

GUARANTEE THEY CAN HAVE THEHEALTH CARE THEY NEED, IS THAT

THEY CAN AFFORD IT WHEN THEYNEED IT, THEN YOU HAVE TO HAVE

SOMETHING LIKE OBAMACARE ANDEVERY OTHER ADVANCED COUNTRY IN

THE WORLD HAS UNIVERSAL HEALTHCARE, HEALTH CARE WHEN YOU NEED

IT THAT YOU CAN AFFORD.

THAT'S WHAT OBAMACARE GIVES YOU.

>> Stephen: WHEN YOU NEED ITTHAT YOU CAN AFFORD BECAUSE

YOU'RE TAKING MY MONEY.

>> WE'RE POOLING.

>> Stephen: THAT'SREDISTRIBUTION OF WEALTH.

POOLING MONEY IS REDISTRIBUTIONOF WEALTH.

YOU'LL ADMIT IT.

SAY IT.

SAY IT.

IT'S REDISTRIBUTION OF WEALTH.

>> ACTUALLY, I'M OKAY WITH ALITTLE --

>> Stephen: YOU ALMOST SAIDIT.

YOU ALMOST GAVE AWAY THE WHOLEGAME.

YOU ALMOST GAVE AWAY-->> LIFE INSURANCE IS

REDISTRIBUTION OF WEALTH FOR.

>> ISN'T ONE OF THE PROBLEMSHERE IS SO FAR ONLY OLD PEOPLE

ARE SIGNING UP FOR THIS, ANDIT'S GOT TO BE YOUNG PEOPLE

SIGNING UP FOR IT?

>> ACTUALLY, WHAT YOU WANT TOLOOK AT IS YOU LOOK AT WHAT THE

INSURANCE COMPANIES ARE SAYING.

THEY'RE SAYING IT'S AN OLDER MIXOF PEOPLE, BUT IT'S WITHIN

EXPECTATIONS.

IT'S ACTUALLY A LITTLE BETTERTHAN THEY EXPECTED.

YOU WANT TO KEEP READING THEFINE PRINT HERE.

>> NOT IF IT'S GOING TO MAKE MELOSE THE ARGUMENT.

>> THERE WE GO.

>> Stephen: WHAT CAN OBAMA DOTO GET MORE YOUNG PEOPLE

INTERESTED IN OBAMACARE OTHERTHAN SENDING OUT TEEN ICON PAUL

KRUGMAN TO TALK TO THEM?

>> I THINK THAT'S A GOOD THING.

THE PENALTY FOR NOT SIGNING UPIS NOT MUCH THIS YEAR.

IT GETS BIGGER NEXT YEAR.

>> Stephen: IT'S 90 BUCKS ORSOMETHING.

>> ALSO YOU'RE GOING TO START TOHEAR-- YOUNG PEOPLE ARE GOING TO

START TO HEAR FROM FRIENDS THAT,"MY GOD, I HAD THIS ACCIDENT,

AND I ENDED UP IN THE EMERGENCYROOM, AND THAT WOULD HAVE COST

ME $20,000, BUT THANK GOD I HAVEINSURANCE."

>> Stephen: AGAIN,REDISTRIBUTING MY WEALTH.

>> THERE'S A LITTLE BIT OFREDISTRIBUTING FROM PEOPLE WHO

HAVE BEEN LUCKY TO PEOPLE WHOARE UNLUCKY.

>> Stephen: LUCKY!

LUCKY?

YOU THINK I DIDN'T EARN THISJOB?

I MEAN, I DID THE WORK OF BEINGTOLLBOOTH OPERATOR ON THE JERSEY

TURNPIKE AND HAVING JON STEWARTDRIVE THROUGH ONE DAY AND SAY,

"DO YOU WANT A TELEVISION SHOW?"I PUT THE WORK IN.

>> THERE WE GO.

>> Stephen: PAUL, THANK YOUSO MUCH FOR JOINING ME.

PAUL KRUGMAN, "NEW YORK TIMES."

2.5 MILLION PEOPLE.

WE'LL BE RIGHT BACK.