You're watching...
The Heritage Foundation’s Ed Feulner on the president’s actions surrounding “Fast & Furious” and how other such acts are impacting the eco...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- -- -- Heritage Foundation president and author of the book the American spirit is in DC and and it joins us now -- -- Olsen I want to get -- -- breaking news on Eric Holder and President Obama asserting executive privilege of documents which the attorney general has -- which congress wants.
And the president now exerting executive provisions say does this privilege that don't have to give them up.
This seems like a constitutional crisis.
And they and to use -- to me it's it's part of a pattern Stewart it's a usurpation of power by the executive branch you look at last week when the president said.
He's going to do certain things about immigration policy that he used to say he needed congressional approval for he does it on his own.
He does illegal recess appointments.
He has crony capitalism.
-- this is not the rule of law that we should be expecting and it's not the rule of law frankly that my colleague and I talk about in our book the American spirit beltway would we.
Outside is looking into this I mean this is a financial program essentially we've got investors looking of this and they're looking at a functioning of government in Washington are saying look this is a mess this is.
Total paralysis total stalemate.
It extends beyond the financial realm beyond taxation beyond entitlements and now it's in a gun running case between the attorney general and -- ice -- I -- this an element to do staff for those who looking you know what's going on in Washington so.
Well I think what we've got Steward is really a a runaway executive branch that will not be held accountable to the congress.
And let's remember we've got divided house and senate.
You're talking a few minutes ago about the new Microsoft tablet let me remind you that the senate the US senate has not passed -- budget.
Since the first I'd -- it woods released.
More than thirteen hundred days since they passed -- budget.
So when we talk about paralysis yes there is -- says there is a need.
To come together.
To chart a new course we've outlined that some of are a big ideas.
But.
I think we're we're in a real long term weight now we're not just waiting two hours to hear what Ben Bernanke has to say we're waiting another 135 days to see what the American people have to say on November 6 -- The point of your piece the America you -- and the American spirit the pointed -- making the point.
That's America looks more and more like Europe.
And less and less like -- exceptional country that I came to forty years ago that's the essence of your point right.
That is the essence although I remain an optimist but when I hear this president talked about American exceptional -- in being like Greek exceptional -- I've urged you and so many of your experts say well why we don't -- -- be Greek exceptional it's a little few more great -- out there and that's about all you're gonna get its exceptional there.
American exceptional -- really is pretty unique and that's what we celebrate in our book.
So what do you make of yesterday's action in the United States senate when -- what two attempts to just make money not mine of reining in that of the food stamp program both of them went down to defeat with some Republicans defeating those reform proposals what do you make of that.
Frustration.
And I don't mean to make the point even more clearly that.
You don't just look at food stamps you look at the other 59 means tested.
Entitlement programs that are out there plus the Big Three Medicare Social Security Medicaid.
So you've got more than sixty programs out there all of them absorbing taxpayer productive dollars a lot of them being duplicative.
Using measures like 300 times that the minimum payroll 300 times the that the poverty -- for eligibility.
Hey this is that we're not talking about a safety net here we're talking about a hammock.
And boy we need some real fundamental reforms on all these program it would do we do need of reform we should reform.
But given the state about politics do you think that we.
Actually will regardless of who wins in November do you think will bite this bullet.
The the numbers are so horrifying.
I have three grandchildren each one -- got -- 200000.
Dollar mortgage with no house attached because that's their share.
Of the unfunded federal liabilities are going to be inheriting from us.
And if the candidates this fall make that point seriously I think the American people will catch up on it and they'll say hey.
We really need some fundamental changes down there in Washington we need to come together.
And say this system is broke we've gotta -- -- corrected before we go the European -- Use on The Heritage Foundation and we thank you very much for joining us at full not -- thank you so.
-- -- -- Got a report something that appears on the bottom of your screen a big jump in inventories a launched increasing amount of oil in storage.
That has pushed the price of oil down some more when -- down -- want a -- thirty fall off on the price of a barrel of oil adult.
