Steve Forbes on the Economy

The Situation, MSNBC


TUCKER CARLSON, HOST, "THE SITUATION": Now what about claims that you're hearing from the White House that the economy is humming along, it's in great shape, Dow at over 11,000, as we said, for the first time in a number of years. And the White House is responsible for this.

I know that you're a conservative and a Republican, but you also, you know, ran independent of the Bush machine. I think you're a credible voice on this. Is the economy in great shape, as the White House says, and is the White House responsible for it?

STEVE FORBES, EDITOR-IN-CHIEF, "FORBES" MAGAZINE: Well, the economy is in very good shape. The fundamentals are strong. We have a productivity boom. Capital spending is beginning to rise again. Personal incomes are fairly good shape. A lot of liquidity out there. …

And the White House can take real credit for the tax cut of 2003 passed in May. That‘s what kicked this economy off, reduction in capital gains, dividends, personal income tax rates and the like. So they can take a bow on that.