MSNBC "Morning Joe" - Transcript

Interview

MSNBC "Morning Joe" - Transcript

MSNBC "MORNING JOE" INTERVIEW WITH SENATOR CHUCK SCHUMER (D-NY)

SUBJECT: STIMULUS PACKAGE, PRESIDENT OBAMA'S UPCOMING SPEECH TO CONGRESS

INTERVIEWERS: JOE SCARBOROUGH, MIKA BRZEZINSKI, CHUCK TODD, MIKE BARNICLE

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MR. SCARBOROUGH: Let's bring in right now Democratic Senator from New York and the vice chairman of the Joint Economic Committee. He is, of course, Senator Charles Schumer.

Senator Schumer, thanks so much.

MS. BRZEZINSKI: Hello, Senator. Looks warm in there.

SEN. SCHUMER: Hey, good morning. Good morning from the toasty Russell Rotunda here.

MS. BRZEZINSKI: Oh, that's not right. That's not right.

SEN. SCHUMER: (Chuckles.)

MR. SCARBOROUGH: Exactly. Now, we understand that you're going to be sending a letter to the White House urging the administration to stop any governors from having the authority to adopt some parts of the bill while rejecting others. Is this your way of telling governors to put up or shut up?

SEN. SCHUMER: Yeah, I think, some of the governors, not all. Governor Schwarzenegger and others have been very strong about this.

But Governor Jindal and others are sort of trying to have it both ways. They want to oppose the package but take 99 percent of the money. And then, to sort of prove their bona fides to the conservative base that they're talking to, they say, well, we won't take the unemployment money, which is 1 percent of the package.

But this was never intended by Congress to be an a la carte menu. You either take it or not.

And in fact, not only do unemployment benefits help those who most need help -- this is hardly compassionate conservatism -- but they get the money into the economy more quickly than most of the others.

It's a complete package. They ought to take it or leave it and stop playing the political games that they seem to be playing, trying to have it both ways.

MR. SCARBOROUGH: You know, Senator, your city, your state depends so much on what goes on on Wall Street. Obviously, taxes are going to have to be raised in New York City and across the state.

What would you like the White House to do to -- we've been talking about how you get Wall Street and the investment community more confident that the banking situation's going to be taken care of.

What would you like the White House and Congress to do in the next couple of weeks to turn that around?

SEN. SCHUMER: Well, the first job is to get this stimulus package working, and that's sort of why the games that the governor is playing -- Governor Jindal and others -- should stop. And that's what this letter is intended to do.

More broadly, I think that they're doing a good job. The stimulus has some -- I think it has the confidence of the American people and of the markets to get some money into the hands of the middle class, create jobs, prevent state and local tax increases.

The housing plan, I think, is really good. And unfortunately, it didn't get the focus it should have, because they're focusing on the servicers. Two-thirds of the servicers have agreed now to refinance mortgages. That's a major change, and I think it's going to help us stem the tide of foreclosures. And I think when the markets learn about that, they're going to get some confidence.

And then when, I think, when Secretary Geithner releases the details of the financial package -- it's well-thought out, it's broad, it's deep, it doesn't say one size fits all -- I think the markets will gain some confidence.

You know, the American people want action. They realize -- and Wall Street does too -- that we're in uncharted waters. But they know one thing; just saying nothing, saying do nothing, just poking holes at things without trying to do something isn't going to accomplish much.

MS. BRZEZINSKI: Yeah. Senator, I want to ask you about the games that you say these governors are playing. Governor Jindal, of course, will be doing the response to the president's address tonight.

And, look, their argument is these programs that they're rejecting money for are programs they're going to end up having to pay for, and they don't want to get into that. Doesn't that make sense?

SEN. SCHUMER: Hey, if Governor Jindal said, I'm for 99 percent of this package and it's a good package and Louisiana needs it but I'm not taking this 1 percent, even though it's for the unemployed, that's fine. But he's railing against the package and then taking almost all of it and just trying to find a little fig leaf to protect himself.

That's not how this package was designed. Money is starting to go into the states right away. The unemployment benefits, extending them for a few weeks, raising it by $25, most Americans support that.

And to sort of pick the package apart, if every governor did that, we'd be much more sure of not getting out of this economic crisis than we are now.

Take it or leave it. I believe they should take it, and I think if they're faced with the choice, they'll all take it.

But they want the rhetoric. They're running for president already, and it's not the right thing to do at a time of crisis.

MS. BRZEZINSKI: Chuck -- Chuck Todd.

SEN. SCHUMER: Yes, yes. Yes, yes.

MR. TODD: Senator, as I understand the issue that the southern governors have -- and this is sort of unique to the southern governors -- is that they all have tax incentive law to entice businesses down there -- some of them very successfully, obviously. A BMW manufacturer he's got down there; Mercedes, et cetera. And it has to do with some of the tax benefits that have to do with unemployment insurance and some things like that.

And all of them have argued, not just Governor Jindal, but Governor Barbour of Mississippi and Governor Sanford of South Carolina, that if they take that money they have to change their law.

Do you have a problem if they say, hey, we'll take that money, but can we use it in another way? Or does this money have to be for what it's designated for?

SEN. SCHUMER: Well, they don't have to do anything for two years. I mean, they certainly have to include some people, part-time workers, in unemployment benefits. But they don't have to raise taxes or do anything else for two years.

And let me tell you, if this package is rejected, they're going to be in much worse shape and have to raise taxes a lot -- lot higher than they have to right now.

So no, I think that this is what Congress mandated. And I wouldn't mind if Governor Jindal got up tonight and said, I'm for 99 percent of this package. I'm taking it. I don't like this one provision. But he's not.

He's railing against the package and then sort of quietly saying give me the money. It's a little like Sid Caesar, you know? I don't like the package, but send me the money. (Laughter.)

MR. SCARBOROUGH: All right. Thank you so much.

SEN. SCHUMER: Remember Sid Caesar? (Cross talk, laughter.) (Inaudible) -- would say, no more applause. No more applause. (Makes Sid Caesar gesture.)

(Cross talk, laughter.)

MR. SCARBOROUGH: You may have lost our 25 to 54 demo, but Senator, I love the Sid Caesar reference.

MR. BARNICLE: Who's going to play Imogene Coca? (Laughter.)

SEN. SCHUMER: Exactly. And who's going to know what we're talking about?

(Cross talk, laughter.)

MR. SCARBOROUGH: Yeah, exactly. All right. Chuck Schumer, thank you so much.

SEN. SCHUMER: Enough of the show. Enough. Enough. (Makes Sid Caesar gesture.) (Laughter.)

MR. SCARBOROUGH: We'll see you tonight.

SEN. SCHUMER: Okay.

END.

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