WITH UNION LEADERS.
RIGHT.
>> Bret: JACQUI HEINRICH
REPORTING FROM DELAWARE,
THANK YOU.
JOINING US NOW, TREASURY
SECRETARY STEVEN MNUCHIN.
MR. SECRETARY, THANKS, WELCOME
BACK TO "FOX NEWS SUNDAY."
>> Secretary Mnuchin: THANKS,
GREAT TO BE WITH YOU.
>> Bret: I’D LIKE TO START
WITH WHERE THE CORONAVIRUS
STIMULUS BILL, THE NEXT
ITERATION, STANZA NEGOTIATIONS
AS OF RIGHT NOW.
SPEECH OF THE PRESIDENT THAT I
COULDN’T BE MORE PLEASED WITH
THE WAY THE ECONOMIC PLAN IS
WORKING.
WE’VE INJECTED $3 TRILLION INTO
THE ECONOMY.
PEOPLE THOUGHT WE’D GET 25% ON
APPOINTMENT, FORTUNATELY IT
NEVER CAME CLOSE TO THAT.
WE ARE DOWN TO 8.4.
BUT THE PRESIDENT AND I BELIEVE
WE SHOULD DO MORE STIMULUS.
WE HAVE ABOUT SEVEN AND A HALF
MILLION JOBS THAT WE NEED TO GET
BACK UNTIL WE ARE BACK TO WHERE
WE WERE UP AND WE WANT TO HELP
SMALL BUSINESSES.
WE WANT TO HELP BUSINESSES THAT
ARE PARTICULARLY IMPACTED BY
THIS AND WE WILL CONTINUE TO
WORK ON PROPOSED NEW
LEGISLATION.
>> Bret: WHAT’S THE STICKING
POINT?
DO SPEAKER PELOSI WANT THIS TO
BELIEVE?
>> Secretary Mnuchin: I THINK
YOU KNOW IN MY DISCUSSIONS WITH
THE SPEAKER, WHERE WE ARE REALLY
STUCK HIS UNCERTAIN POLICY
STUCK HIS UNCERTAIN POLICY
ISSUES BUT MORE ABOUT MORE IMPOR
THE TOP LINE.
SHE HAS REFUSED TO A NEGOTIATED
UNLESS WE AGREE TO A TWO AND A
HALF TRILLION DOLLAR DEAL IN
ADVANCE.
AND AS YOU KNOW, WE PUT
$3 TRILLION INTO THE ECONOMY
WHEN THE ECONOMY WAS COMPLETELY
SHUT DOWN.
WE HAVE NOW REOPENED THE
ECONOMY.
LET’S DO A MORE TARGETED BILL
NOW.
IF WE NEED TO DO MORE IN 30 DAYS
WE WILL CONTINUE TO DO MORE BUT
LET’S NOT HOLD UP THE AMERICAN
WORKERS AND AMERICAN BUSINESSES
THAT NEED MORE SUPPORT.
>> Bret: ON THE LOGISTICS,
WILL SENATE REPUBLICANS MOVE A
SO-CALLED SKINNY BILL NEXT WEEK?
>> Secretary Mnuchin: I’D LIKE
TO CALL IT A MORE TARGETED BILL,
NOT A SKINNY BILL, BUT OUR
EXPECTATION IS WE WILL MOVE
FORWARD NEXT WEEK.
>> Bret: WHAT EXACTLY DID YOU
AGREE WITH THE SPEAKER ON
GOVERNMENT FUNDING?
>> Secretary Mnuchin: THE GOOD
NEWS, BRET, IS THE SPEAKER AND I
HAVE AGREED, WE DON’T WANT TO
SEE A GOVERNMENT SHUTDOWN, SO
WE’VE AGREED THAT WE ARE GOING
TO DO A CLEAN CR.
WE WILL DO THIS SEPARATELY FROM
THE CARES ACT NEGOTIATIONS.
WE ARE HAVING THE APPROPRIATIONS
STAFF THE FOUR CORNERS MEET AND
GO THROUGH SOME SPECIFIC DETAILS
ON IT, BUT THE GOOD NEWS IS
WE’VE AGREED ON A CLEAN CR AND I
HOPE BY THE END OF THE WEEK WE
CAN BEGIN MOVING FORWARD WITH
THAT, BECAUSE THAT’S IMPORTANT
TO THE AMERICAN PEOPLE.
>> Bret: CR, CONTINUING
RESOLUTION, HOW LONG WOULD THAT
EXTENSION LAST?
THROUGH ELECTION DAY, SOME OTHER
TIMELINE?
>> Secretary Mnuchin: WE
HAVEN’T AGREED ON THE SPECIFIC
DETAILS BUT MY EXPECTATION IT
WOULD BE THROUGH THE BEGINNING
OF DECEMBER.
THAT’S WHAT WE DID THIS YEAR, WE
HAD ONE THROUGH DECEMBER, WE
THEN NEEDED ANOTHER ONE INTO THE
BEGINNING OF NEXT YEAR AND THEN
WE HAD FINAL APPROPRIATIONS, SO
FOR NOW, THE MOST IMPORTANT
THING IS TO MAKE SURE THE END OF
THE MONTH WE DON’T SHUTDOWN THE
GOVERNMENT AND WE GET SOMETHING
PAST THE ELECTION.
>> Bret: MR. SECRETARY, THERE
HAS BEEN SOME VOCAL CRITICISM
FROM REPUBLICANS ABOUT YOU
NEGOTIATING, SAYING IN ESSENCE
ARE GIVING AWAY THE STORE, THE
PRESIDENT HAS JOKED HE DOESN’T
KNOW WHETHER YOU’RE A DEMOCRAT
OR REPUBLICAN.
THERE’S
"THE WALL STREET JOURNAL"
EDITORIAL BOARD, REPUBLICANS AND
THE AGE OF DONALD TRUMP DON’T
KNOW WHAT THEY STAND FOR ON
ECONOMICS.
TREASURY SECRETARY
STEVEN MNUCHIN IS A KEYNESIAN
WHOSE IDEA OF COMPROMISE IS HALF
OF WHATEVER MRS. PELOSI WANTS,
SAYING IF THE DOWN PAYMENT ON
HER ELECTION AGENDA.
YOUR REACTION TO THAT CRITICISM,
AND WOULD IT BE BETTER TO BRING
THE PRESIDENT IN, HAVE HIM GET
EVERYBODY IN THE OVAL OFFICE AND
TRY TO HAMMER OUT A DEAL?
>> Secretary Mnuchin: LET ME
FIRST SAY, I DON’T TAKE
"THE WALL STREET JOURNAL"
EDITORIALS PERSONALLY.
SOMETIMES THEY HAVE GOOD THINGS
TO SAY AND SOMETIMES IT’S
NONSENSE, LIKE THIS CASE.
AS I SAID BEFORE, I DON’T AGREE
TO ANYTHING THAT I DON’T AGREE
WITH THE PRESIDENT.
I SPEAK TO THE PRESIDENT DAILY.
OUR ECONOMIC PLAN GOT US BACK TO
AN EXTRAORDINARY REOPENING OF
THE ECONOMY AND THE PRESIDENT
WANTED US TO MOVE FORWARD WITH
$3 TRILLION OF SPENDING.
THAT’S WHAT WE DID.
IT’S HELPED AN ENORMOUS AMOUNT
OF AMERICAN BUSINESSES AND
AMERICAN WORKERS AND THE ANSWER
IS, THE PRESIDENT CONSTANTLY
HAS -- NOT ONLY HIS ECONOMIC
TEAM IN THE OVAL OFFICE, BUT NOW
MARK MEADOWS AND I HAVE BEEN ON
THE PHONE WITH MITCH McCONNELL
AND THE SENATE REPUBLICANS EVERY
SINGLE DAY.
WE OBVIOUSLY SPEAK TO KEVIN
McCARTHY HIM AND THE
REPUBLICANS IN THE HOUSE, BUT
LET ME BE CLEAR, ANY LEGISLATION
OR CRIERS BIPARTISAN SUPPORT.
WE COULDN’T BE MORE PROUD.
THE LAST TWO BILLS IN THE SENATE
100-0 AND 96-0, SO I FIND THAT
ANYTHING OTHER THAN COMPLETE
BIPARTISAN SUPPORT FROM BOTH
SIDES.
>> Bret: MOST LOOK AT JOB
REPORT AS POSITIVE, STRONG
EXPECTATIONS.
HERE’S HOW THE FORMER
VICE PRESIDENT CHARACTERIZED IT
FRIDAY.
>> THE REPORT REINFORCES THE
WORST FEARS AND PAINFUL TRUTHS,
THE ECONOMIC INEQUITIES THAT
BEGAN BEFORE THE DOWNTURN HAVE
ONLY WORSENED UNDER THIS FAILED
PRESIDENCY.
WHEN A CRISIS STARTED, WE ALL
HOPED FOR A FEW MONTHS OF THE
SHUTDOWN WOULD BE FOLLOWED BY
RAPID ECONOMIC TURNAROUND.
NO ONE THOUGHT THEY’D LOSE THEIR
JOB FOR GOOD.
>> Bret: YOUR REACTION TO
THAT?
>> Secretary Mnuchin: THE
FORMER VICE PRESIDENT ON THE
FORMER PRESIDENT HAD ONE OF THE
LONGEST ECONOMIC RECESSIONS THAT
WE’VE HAD.
UNDER PRESIDENT TRUMP WE HAVE
THE LOWEST ON EMPLOYMENT WAY
FAT.
WITHOUT THE BEST ECONOMY WE’VE
EVER HAD ENTER NO FAULT OF ANY
AMERICAN BUSINESSES, THE
PRESIDENT MADE THE VERY
DIFFICULT DECISION TO SHUT DOWN
THE ENTIRE U.S. ECONOMY BECAUSE
OF THIS TERRIBLE COVID DISEASE.
THE GOOD NEWS IS WE’VE REOPENED
IT BURIED HIM AGAIN, LET ME JUST
SAY, PEOPLE THOUGHT WE HAVE 30,
40 MILLION PEOPLE UNEMPLOYED.
WE NEVER DID THAT BECAUSE OF THE
BIPARTISAN SUPPORT PUTTING MONEY
INTO THE ECONOMY.
WE ARE NOW DOWN TO 8.4% AND THE
PRESIDENT IS GOING TO GET IT
BACK DOWN TO THREE OR 4% WHERE
IT WAS BEFORE ALL OF THAT IN THE
BEGINNING OF NEXT YEAR WHEN HE’S
REELECTED.
>> Bret: 1.4 MILLION JOBS
ADDED IN AUGUST, UNEMPLOYMENT
RATE DOWN TO 8.4%.
LOOKING RIGHT NOW ON THE CURRENT
TRAJECTORY, WHAT YOU THINK IT
WILL BE BY ELECTION DAY?
>> I THINK WE WILL CONTINUE TO
SEE IT GO DOWN.
WE WILL HAVE ONE MORE EMPLOYMENT
NUMBER THIS MONTH THAT YOU’RE
GOING TO SEE.
I THINK YOU’RE GOING TO SEE
ANOTHER GOOD NUMBER.
YOU’RE GOING TO SEE A PHENOMENAL
THIRD QUARTER GDP.
IN SOME PEOPLE THINK IT’S GOING
TO BE IN THE NEIGHBORHOOD OF 30,
35%.
WHETHER IT’S 25%, 30, 35%,
YOU’RE GOING TO SEE THIS IS THE
AMERICAN ECONOMY REBOUNDING.
THIS IS AMERICAN BUSINESS.
PEOPLE KNOW WHEN THE GOVERNMENT
GETS OUT OF THE WAY AND WE LET
AMERICAN BUSINESS WORK, AND WITH
A LITTLE SUPPORT FROM INDUSTRIES
THAT ARE THE HARDEST HIT AND
THAT’S WHY WE WANT MORE
LEGISLATION, THIS ECONOMY WILL
FULLY RECOVER AND THE
PRESIDENT’S JOB AND MY JOB IS
NOT DONE UNTIL EVERYBODY GETS
BACK TO WORK.
>> Bret: THE COUNTRIES STILL
IN THE IRAN NUCLEAR DEAL SAYS
THE U.S. DOESN’T HAVE STANDING
TO DO SNAPBACK SANCTIONS.
CAN AND WILL THE U.S. GO ALONE
ON THIS?
>> Secretary Mnuchin: WE WILL.
IF SO LET ME JUST SAY WE DON’T
AGREE WITH THAT TECHNICAL
ANALYSIS AT THE U.N.
I THINK OUR ALLIES UNDERSTAND
THAT SELLING ARMS TO IRAN RIGHT
NOW WOULD BE PERHAPS THE WORST
DECISION THAT ONE COULD DO.
WE ARE TALKING ABOUT THE NUMBER
ONE COUNTRY IN THE MIDDLE EAST
THAT HAS CREATED TERROR AROUND
THE MIDDLE EAST.
IN THE PRESIDENT IS DETERMINED.
AT ONE, THEY’RE NEVER GOING TO
HAVE A NUCLEAR WEAPON, AND TWO,
WE ARE NOT GOING TO LET THEM
HURT OUR FRIENDS IN THE AREA.
>> Bret: YOU ARE NOT ON THAT
TRIP TO FRANCE WITH THE
PRESIDENT, THAT’S THE FOCUS OF
THE ATLANTIC PIECE, THAT HAS
RECEIVED SO MUCH ATTENTION IN
THE PAST FEW DAYS.
ADMINISTRATION PUSH BACK ON THE
RECORD, BUT UNNAMED SOURCES
CONFIRMING PARTS OF THAT STORY,
AT LEAST PARTS OF THE ACCOUNT.
HAVE YOU EVER HEARD THE
PRESIDENT USE ANY OF THAT
LANGUAGE, ABOUT VETERANS, DEAD
OR ALIVE, EVER BEING AROUND HIM?
>> Secretary Mnuchin: QUITE
THE CONTRARY.
THIS PRESIDENT SUPPORTS THE
MILITARY AND AN UNBELIEVABLE
WAY.
HE’S CREATED MORE FUNDING TO
REBUILD THE MILITARY.
THAT WAS ONE OF THE THINGS HE
CAMPAIGNED ON AND DELIVERED.
I’VE BEEN WITH THE PRESIDENT TO
ARLINGTON ON MEMORIAL DAY.
LET ME TELL YOU, I’VE LISTENED
TO HIM THERE, I’VE WATCHED HIM
GO VISIT SITES THERE.
I’VE BEEN WITH HIM TO THE
ANNIVERSARY OF WORLD WAR II, IT
WAS A VERY EMOTIONAL EXPERIENCE.
SO NO, QUITE THE CONTRARY, I
THINK THIS PRESIDENT HAS
ENORMOUS RESPECT FOR THE
MILITARY AND FOR THE GENERALS
AND I’VE BEEN AT THE TANK AT THE
PENTAGON WITH HIM.
I’VE BEEN AT 9/11 AT PENTAGON
WITH HIM.
THIS PRESIDENT RESPECTS AND
SUPPORTS THE U.S. MILITARY.
>> Bret: THE PRESIDENT ALSO
SAYS HE IS AGAINST CANCEL
CULTURE.
DO YOU THINK IT’S RIGHT FOR HIM
TO CALL FOR THE FIRING OF A
REPORTER WHO HAS UNNAMED SOURCES
WHO CONFIRM PARTS OF THAT STORY?
>> Secretary Mnuchin: BRET, I
REALLY DON’T KNOW ANYTHING ABOUT
THAT, SO IT’S JUST NOT SOMETHING
I CAN COMMENT ON.
>> Bret: OKAY, HE’S TWEETED
ABOUT IT AND OBVIOUSLY HE SAYS
THAT HE WANTS A REPORTER WHO
HAPPENS TO WORK HERE AT FOX
FIRED BURIED
>> Secretary Mnuchin: I’VE
BEEN BUSY ON ECONOMIC ISSUES, TO
BE HONEST WITH YOU.
I FOCUS ON A LOT OF THINGS AND
AS I SAID ON THE MILITARY, I’VE
ALWAYS HEARD HIM TO BE 150%
SUPPORTIVE.
I’M JUST NOT AWARE OF THE ISSUES
THEY ARE TALKING ABOUT.
>> Bret: MUST THINK I’M OF THE
CBO’S AS THE NATIONAL DEBT WILL
REACH ABOUT THE SIZE OF THE U.S.
ECONOMY BY THE END OF THE YEAR.
I’VE INTERVIEWED YOU MANY TIMES
BEFORE AND ASK YOU ABOUT THE
GROWING SIZE OF THE DEBT.
IT’S APPROACHING $27 TRILLION.
THE DEFICIT AND THE DEBT ARE A
CONCERN.
YOU’VE ALWAYS SAID IT’S
"MANAGEABLE," BUT AFTER THIS
PANDEMIC, IF THE PRESIDENT IS
REELECTED, WOULD YOU SEE A
SECOND TERM SOME SERIOUS
ADMINISTRATION PLAN TO ADDRESS
THE DEBT?
>> Secretary Mnuchin: I WOULD,
BRET.
I THINK BEFORE WE GOT INTO COVID
I THOUGHT THE DEBT WAS VERY
MANAGEABLE.
WE WERE HAVING EXTRAORDINARY
GROWTH, CREATING GROWTH THAT
WOULD PAY DOWN THE DEBT OVER
TIME.
UNFORTUNATELY, THIS CHINA VIRUS
HAS COST US TRILLIONS OF DOLLARS
AND AS I SAID BEFORE, THIS IS
LIKE A WAR.
IN A WAR YOU’VE GOT TO SPEND
WHATEVER YOU NEED TO SPEND.
THAT’S THE REASON WHY WE SPENT
$3 TRILLION.
WE’D SPEND ANOTHER TRILLION
DOLLARS, THE SPEAKER WANTS TO
JUST SPEND UNLIMITED AMOUNTS OF
MONEY.
I THINK THE FORMER
VICE PRESIDENT, IF YOU WERE
ELECTED, WOULD HAVE SOCIALIST
ECONOMIC POLICIES THAT WOULD
TAKE THE DEBT OUT OF CONTROL,
BUT THERE’S NO QUESTION IN A
SECOND TERM, ONCE THE ECONOMY IS
BACK, WE WILL FOCUS ON THIS
