Feldstein: Can't Continue to Shrink Defense Spending

The transcript discusses Trump's appointment of a military leader, Mad Dog Mattis, and the implications for foreign policy. It covers defense spending, highlighting its decline and potential budget impacts. Trump's economic team choices, including Wall Street insiders, are analyzed, suggesting a shift towards mainstream policies. The discussion also touches on Republican economic programs, focusing on tax reduction and deficit management. Finally, the debate on infrastructure spending is explored, questioning its feasibility and economic necessity.

In what ways might Trump's cabinet selections differ from traditional expectations?

What are the key components of a mainstream Republican economic program today?

What challenges might arise from Trump's plan to boost infrastructure spending by $1 trillion?