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Home Depot Co-Founder Bernie Marcus on the need to reform entitlements in an effort to rein in government spending.
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We have -- Social Security reform.
They gradually allows the age to rise and means test the benefits.
We're going to do the same for Medicare.
But with Medicare were also going to give people the congressional health care plan.
Rambo all coming up with a five year plan to balance the budget -- other words eradicate what is close to a one point four trillion dollar budget.
Why -- out of five years doesn't mean was still got a lot of -- they've -- -- of all of those deficits we had been piling up since then.
But it would be a dramatic start and I can guarantee you and Bernie Marcus can probably predict foreign news.
So that this is the kind of thing that we'll be picked apart and ripped apart tomorrow in the media.
Today -- already started happening hundreds too busy on fox on pretty what do you make it added at least he's what he's -- -- proposals forward.
No I think he's a very very sound thinker I think he's put a lot of thought into a tremendous amount of thought he's tried to be fair and even.
He's looked at the economies looked at what he sees he catastrophe there where we're headed toward.
And he's come up with a solution that makes a lot of sense.
And it really takes care of those people who -- worried about him.
The older people.
Worried so much about Medicare and social security and they should be a very deep trouble they don't understand that they think that there that that that that's gonna fly out of the sky and say -- and the truth of the matter is Medicare or Social Security -- -- for a disaster.
He's got some answers for that makes sense that -- doable.
If we can get this government.
You know together in and stop thinking about the presidency in about.
The political parties -- so I think -- about.
But they have though the welfare of the people that live in this country I think that it makes a lot of sense there may -- pieces -- affected -- but the truth of the matter is.
Overall he's a very clear thinker and I think that if we took that the entire thing and put -- through would help America.
Because we don't do that just like with the depth of his recommendations because some provisions.
-- deemed onerous to certain big extreme groups and either party.
It didn't happen even -- I agree it is sometimes you just editor EA and and the whole do -- -- Google they don't do that.
So to his notion that is Rand Paul's notion Bernie that we've got to start means testing a lot of these entitlements Social Security Medicare among my mom.
What do you make of that.
Well if we look if we don't do it -- we're headed for a disaster I mean think about it -- We we -- -- could it be the the entitlements are reaching a point where.
There's no stopping them they go up every single year.
We have no money to pay from the debt is set up at a level that's not a sustainable for this country.
We don't want to end up like Greece or Spain.
And if we don't do something about all of -- across the board all of the entitlements.
As well as the spending on other areas.
We're gonna be -- deep trouble I mean anybody who does a -- understands.
But you can't speed you can't spend what you don't have and a -- and you can't spend ten times what you don't have and bank it just doesn't work it doesn't work for people and it doesn't work for governments either as we see with all the governments -- in trouble in Europe.
-- gonna be there if we're not there yet.
Yeah number I know you -- number of the little different than a lot of one for senators and all but I hear this from a lot of 1% does come back consent.
Well now you -- and I means testing so security -- -- my life into it and now you're saying that I'm gonna get less out of that are potentially nothing out of it.
How would you was a pretty good communicated in your own right communicate.
That.
-- a look in order to save the system.
-- think that people who have means people who have enough money to live on comfortably.
I should be getting social security and I -- so I also live on comfortably without without these programs.
With without the government what exactly figure what I -- figure free.
Well I please make this a dollar more than whatever I have to continue that well whatever you have I'm gonna make -- ten dollars more just to see is that raucous -- Or.
What you are saying that you you do did its engine because this is is that we get the takes a lot of the world's do we they have a lot.
-- they zig here or you're gonna make this like a handout program and I did -- -- and do it and and when I didn't have a lot of money will not be there -- not really.
They send.
Mail picked if it is not fair.
It when you pay in -- of your life and then you can't get it out it's not fair but that's the system and in order to save the system somebody has to sacrifice.
And I'm saying that those people who can afford to sacrifice sort of sacrifice -- so that the system I mean are people who are living on sustenance today.
That -- -- UN I couldn't couldn't believe.
And and in order for them -- have that money we have to give up what we worked all allies for that's fine.
I don't think that anybody out -- if they knew that something practical.
Something.
If something was out -- -- working.
I don't think that people would mind sacrificing what they don't like is having to throw it in.
And see -- squandered which we've watched three years and years and years and over the last four years it's been a disaster.
It's a worse than ever before so.
You don't yes I I would say I would trusted the congress to just give it up and let them spend it I say give it up.
If in fact there's a planned that make sense.
Then I'm sure that everybody -- -- the -- -- that could afford it would agree to I don't think it'll be up for its it.
The American people -- good people be you know.
That the one for senators to 2% is the 5% the people are paying the vast majority of their taxes are pretty cool about it.
You know if you look at the fact that they're paying for somebody people who are not paying taxes 47% of people.
Do not pay any taxes at all.
And they are supporting everything.
I think -- pretty cool about it right now.
You wanna really -- them start take started -- we've taken away more and giving more out without having a substantial plan in place I don't think it'll work.
