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Senator Ron Johnson, (R-Wis.), talks about why government spending is out of control and how we got into this situation
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Tonight on the dock at the president and his top cronies in corporate America throw their weight behind occupy Wall Street.
And if you only -- -- -- on the nightly news coverage of the occupied Wall Street protests.
You think those people were actually following him here's what the president said yesterday -- event to honor the late great reverend Dr.
Martin Luther King Jr.
Yeah yeah unemployed worker can rightly challenges -- -- the Wall Street.
Without demonizing all who work there advising all the work out a White House chief of staff backs up the president in today's New York Times He says quote.
Influence that the financial sector has on our economy is way beyond what it ever had.
And there's a bad side of that closed quote.
But such rhetoric ignores the fact that crony capitalists -- Wall Street have no greater champion -- President Obama himself.
It is this president who has presided over a string of fruitless bail outs it is this president who re nominated a Federal Reserve Chairman but it's flooding the markets -- devalued devalued dollars it is this president.
When -- -- an unprecedented explosion of federal spending.
And trillion dollar deficits.
All in the name of economic stimulus a new poll in my home state of new yeah.
-- voters are familiar with what happens on Wall Street shares nearly half think.
Wall Street has benefited from president Obama's policies just 9%.
Said the same about the middle class.
Such problems these -- indeed been good for Wall Street.
But my next guest says the -- -- of this government are destroying this country.
Joining me -- are Republican Wisconsin senator Ron Johnson.
Senator Johnson at the pleasure welcome back to freedom watch.
Well judge -- I mean I'm.
The president says that this is not a bailout it's not a stimulus package.
If you guys are just let him borrow and spend another half trillion dollars.
You know create new jobs what's wrong with this message and what's wrong with the economics behind it.
Well judge all he's doing is he's robbing Peter to pay Paul.
But when you take.
Money out of the pockets the productive the people actually create jobs.
And just give it in funnel through government we know that hasn't worked hasn't worked for the last three years as He has taken.
This country on -- spending binge.
In getting our nation to the to another four trillion dollars in just three years is simply doesn't work it's not gonna work -- -- futures well.
Now do you think that the president actually wants to dupe people.
Wants to give the impression that he's doing something.
Once -- show that maybe He can hire a few more government bureaucrats.
And that somehow even though will cause great damage in the long run when that barring has to be paid back.
He can get some political.
Credit for this in November 2012.
Well first five things -- pretty dangerous game here I mean when you start looking for scapegoats.
You know that's a very dangerous game when He should be doing is He should be looking at his own policies.
Trying to understand the harm.
That they are causing to our economy and start reversing course that would be a productive use of this time reverend.
Yes casting about for scapegoats and and trying to incense the American public and demonized few people that's very dangerous.
Under this president.
The government's.
Portion of the gross domestic product.
That's the portion of war the economic activity in the United States of America.
Generated by the federal government is extraordinarily high it's close to 40%.
How dangerous is that it why is it dangerous -- I want to remind everybody that you are not a professional politician.
You -- -- senator from Wisconsin which are self made entrepreneur or whose background is in creating wealth and prosperity and jobs.
It's very dangerous judge me to take a look at European socialist nations.
Mean it compares unfortunately.
With those nations Norway is He is -- government is 40%.
The UK in Greece is 47%.
France's 53%.
When you add up.
Federal -- about 24% -- their governments were up 39 point 2% we're dangerously close to European style socialist model.
And so you you'd expect -- type results structural unemployment between 910%.
And very low growth rates bats the whole -- that's the whole we've dug ourselves that's what we're stuck.
Well we do about this.
Senator Johnson I mean you you understand economics one -- one and if I may say so most of your colleagues in both parties do not.
I mean do you educate them.
You bang your head against the wall to go public do we repeal the sixteenth amendment.
Which lets the public elect senators of the states can have some say as they once -- degree of repeal the seventeenth amendment so there's no YRS.
What are we do when this just seems to be getting worse and worse and worse.
Well first first while judge else so many people and Americans think Washington is dysfunctional in their right I mean I totally agree the people need to understand why.
Meet all government was never intended.
To manage 24% of our economy.
-- -- a hundred years ago judge the total government was only 2%.
Our economy that's all the federal government wise and and the senate that the body in which I.
It's -- It was actually intended it was designed to limit the growth of government you know 1917.
We ended unlimited debate and we we allowed cloture.
We made it easier for government to grow and guess -- judge government grew.
The balancing good enough for some people bet the two thirds threshold wasn't good enough so they -- that threshold to three steps where it stands day sixty votes.
And guess what government grew again to 33 years for the guts for the Democrats to get best supermajority sixty votes but the -- in 2009.
They -- health care the -- past Dodd-Frank.
It passed the the on the failed stimulus package.
And so when you make it easier for government grow it grows and government steals money it extracts money from the private sector and that's what actually.
We have to rely in the private sector to create real jobs and self sustaining economic growth.
Senator Johnson always a pleasure keep up the good fight you're always welcome here.
Thanks and now judge president --
