Also in this playlist...
This transcript is automatically generated
So you know this is going out of the guy who says they should be challenging this aggressively with me now the last vice president of these -- United States detaining.
The vice president has a new book out you might have -- wanted to things about it it's called in my time it's a personal and political memoir of its rates because governments.
As we speak bomb mr.
vice president to to be back Neil -- hitting you -- details that are stance.
A big jobs stimulus measure.
-- -- in large part not entirely but in large part by limiting deductions.
Can can enjoy -- -- well I'm not much much.
Problem -- and I don't think the Obama administration.
Has got it right we've got another band aid.
Basic notion being government spends more money and would borrow more money -- we tax more money.
Then everything's going to be fine we've been down that road and doesn't work.
We really need to do is put together our long term program that's based primarily on growth that talks about fundamental tax reform.
For gonna get into the business.
Doing away with deductions who heading into the business of Lauren rates of overall broadening the tax base we have do a lot more with respect to lifting regulations and regulatory -- -- on the -- We have to Begin to address entitlements of agony and -- On that long term debt problem I don't see anything like that in the package and we're talking about now it's more of the same old.
Barack Obama approach to life which is well if would borrow more money and protects more money and we spend more government funds things are gonna get better and I don't think there will.
But the -- present He must effectiveness Barack Obama and some of them are not idiots so maybe they figured -- Republicans are gonna Moses.
But it doesn't matter on we're gonna stand her ground and do it Harry Truman on this with -- -- Well I don't know I just I pulled something out of the Paper that -- irresistible the other day and I usually have props.
-- but I did this time.
And it was.
A piece by Michael Boskin used to be right chairman of the council of economic advisors.
On my watch my secretary defense back in the first Bush Administration.
And He -- off record set.
On Obama's watch.
US sovereign debt downgrade person American history federal spending.
-- -- -- percent of gross domestic product highest since world war today.
Budget deficit 10% of GDP highest since World War II.
-- federal debt 67% of GDP highest since just after World War II.
Employment 50% of the populations were you -- since 1983.
On on we've got a lot of evidence now.
After nearly three years that his approach.
-- trying to save the economy doesn't work you know that He inherited amounts to me not that big and it's not obvious it's his mess now and.
Do you think the statute of limitations assault on the blanket I think so of it because you know that that the critics of that.
The bush Cheney years mr.
vice president -- -- you were no such as on spending and that -- overall debt to GDP was climbing in and and and -- -- eight years.
And that is set the stage for what He was coming it's so who were you to judge -- Well I don't buy that we did have some additional spending way had to do there was a little thing called 9/11.
We had to move very aggressively in terms of Homeland Security.
Create -- -- department we had military operations obviously in places like Iraq and Afghanistan.
But the bottom line is that.
The overall debt increase.
Under Barack Obama's time in office exceeds the total amount that came -- Of course the Bush Administration.
The rate of increase is much greater with this administration that's ever been.
Let's start there's no more that -- vote on services but what's the argument for that in order to get support for the war on terror.
You guys might have looked the other way when it came suits suspending restraint -- -- -- to have support.
I don't think so I don't.
That's not the way I look at but I think that is the bottom line when we start to talk about the huge debt problem we've got over a long period of time is entitlements.
That's that the major area that we've got to address and I haven't heard anything out of this administration.
That begins to address that we had be a -- Simpson commission.
Just some pretty good work but it's been totally ignored by the by the administration.
-- we deserve our credit downgrade.
There's still you know only so many places you could go and get that rating.
With respect to and I think they -- and finally reached the point where they were gonna do it and they did it's the only time in history we've had credit down.
Filter by section