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Michael Dukakis on Efforts to Rein in the Debt

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    Former Gov. Michael Dukakis, (D-Mass.), on efforts to reduce the government’s debt.

  • Duration 5:48
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Michael Dukakis saw the 1988 to democratic presidential nominee and -- governor has our -- having covered.

Your race in 1988 a fairly closely and that the pleasure talking to you during that race on.

I won't sit by -- asserts that you know you were trying to get the dialogue going about.

How both sides have to look long term future of the country look at entitlements look at.

All -- Bob that the terms -- spending nothing like.

The -- of -- of the -- we're looking at today and both parties -- the same kind of thing today but don't follow want on.

And here's my -- against both parties.

Republicans.

Are loath to close tax loopholes because they see them.

As a tax -- so they don't touch it.

Democrats.

Not all are are are -- to -- entitlements because even reining in their growth this town announces.

Throwing grandma off the cliff so we don't make progress and that's what worries me.

We never will release -- We'll have a lot more optimistic.

About the country than that did you know we've been around for a long time we've gone through crises this one in my judgment was totally unnecessary we will really.

In great shape when Clinton left office he left -- plan behind him as you recall.

To reduce and eliminate the national debt ten to twelve years and think the interest savings are so security made all kinds of sensitive broad public support well we like to somebody else we got something different than here we are.

But to be served on continental united honor -- that went but to be fair the last year the administration we were entering a -- -- the NASDAQ was imploding.

Revenue to the government was draining fast so.

We just can't -- say.

That pentagon that trajectory.

Things wouldn't have changed maybe not a -- as they did it but things would not necessarily -- -- -- -- can't you can't disagree with the fact that we would have been in far better shape to deal with the recession if we hadn't.

Cut taxes five times and gotten into two wars so here we are but in any event look.

I'm an optimist.

I'm optimistic about this country of optimist about the world I know we've got lots of issues that we can't I can't get a number of an -- well the guy -- both.

I -- unfortunately that may be the case but the fact of the matter is that we've got to deal with it.

I think we can.

Obviously what the guys in the White House you get back here at least get the death of robbers got took over but.

I think -- gonna.

We're gonna do it and that's not gonna be easily selling dollars.

Look I mean you know okay he says on the cheapest guy in America I think that's what I remember little don't remember around our.

Well I mean you know my kids rather dual class go intervention on B two years ago -- got a sense but I groceries.

But.

That you can't be -- -- -- Greek hamburgers and that be thrifty let me tell -- notwithstanding what's happening in Greece these.

-- but we're not have and that's a worry is the governor again not since -- preacher -- I've read both sides of this.

But they talk a good -- we have to get serious -- -- have to get serious about this tax cuts neither does it and the pile.

Of the problems develop let's say the president's reelected well maybe the Republicans take the -- that seemed to be popular scenario announced.

Then that's more and more you residence.

Look sooner or later folks that gonna have to come together by the way.

The budget agreements that have been made have in fact made significant cuts in federal spending you know that and not an unedited on our social programs that ad spending and not well okay that is happy my -- that.

-- But if we can get this got -- be back on track and I think that's beginning to happen it's gonna be easier.

As you'll agree to do those kinds of things and I just -- continue to be somebody who believes that this country will all of these divisions.

Can resolve these problems and and I think we're gonna do that.

So do you think in the end if you had a mixed it's brain.

Spending cuts and and tax -- or revenues however you wanna call it what -- that -- -- I'd go 5050.

I think that's reasonable.

I think we've got to raise additional revenue but I think we can also make significant cuts look the defense budget in my judgment is way too big.

I'm not exactly where Ron Paul is but do we really need 837.

American bases all over the world -- -- -- one is this.

And you know the Cold War is over it's a difference threat we've got to deal with a differently I think there are substantial savings to be made of the defense side so.

When you Prius -- banks -- that's a security.

It's already been raised.

Disturbance pretty -- -- would have to -- Basilan younger people company.

Well -- I think -- something be said for tiny retirement age to life expectancy and I think we ought to explore that on the other hand I think.

Privatizing Medicare is crazy can you imagine putting eighty and ninety rolls into this private insurance system that's driving -- that's.

I mean that's that's that's -- in my judgment so what is the president's health care plan you not still think there's anything nutty and that.

Is it is it is it -- to try to make sure that working people and their families in this country a decent affordable health -- I think it's a national disgrace that we don't have a healthcare as a criticism of the plan is that it's not doing that.

Well it's certainly well my friend have -- Make no mistake about it and I think most Americans understand that the overwhelming majority of people without health insurance is going to be a working on that was a working very present level hoping is that sit around.

All right started a conference thank you.

Big American -- -- little by governor Iraq started demand residuals the whales are getting it there -- not.

Do something about it -- -- darkest in 1988.

Presidential candidate --

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