You're watching...
“Wealth and Poverty” author George Gilder argues the Obama Administration is creating a culture of dependency in an effort to get re-elected.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Is now one of the country's most thoughtful and provocative political and economic bankers author co-founder of the Discovery Institute George Gilder author of the best seller -- newly updated wealth and poverty.
A new addition for the 21 century.
George great to have you with us -- to -- here the idea.
That is you have written recently.
That.
Governor around and congressman Ryan need to bring a new philosophy to Washington.
That -- -- charge our political establishment.
And and invigorate importantly of this economy.
The idea you say is not to think about.
Is Peter Drucker said.
Solving problems now.
-- but Washington is full of problem solvers and what they do when they solve the problem is created dependency.
And the hope to capture -- voting bloc.
And the key is not just poor people -- people on food stamps our welfare its bankers it's.
It's farmers.
Addicted to -- all production -- it's.
It's the whole big green machine that's even corrupting the venture capitalists in Silicon Valley who are of -- crucial source of American growth and progress you know and always have been at 21%.
Of our GDP.
Comes from companies that were financed by venture capitalists and -- more than 60%.
Of our.
Stock market value comes from these companies they're they're corrupt them is really destructive.
To corrupt them.
And as you suggest to lure you -- -- this rather literally I take it to lure -- workforce into.
Rather.
-- our collective if you will dependency.
That will be be supportive of President Obama do you mean that literally.
I really do mean mean that weather today calculated or not the effect of -- They're vast expansion of government programs is to create more dependence.
Who are inclined to vote for Obama you know they'll -- in 2008.
There were 31.
Million more.
Of voters.
Than there were full time workers and private.
In the private sector in the United States.
We're creating an environment where it's increasingly difficult.
To.
You have to induce people to vote against their interest their immediate interest in government programs and then.
-- lawyers -- whole.
Democratic Party is full of lawyers who are dependent on the increasing complexity of regulation.
And law.
We've created quite a class haven't we basically.
Professional partisans.
For -- High Court.
Of centralized.
Planners and government now and it.
Let's let's talk about this either there -- people I'm sure listening to -- over right now saying.
In -- sounds a little like governor Romney talking about 47%.
Don't pay taxes.
In and he's been criticized.
And several quarters -- -- in the mainstream media.
For having spoken what others -- simply the truth your thoughts.
Well I think he's he's right pretty -- states that -- he doesn't include all was.
-- Wall Street bankers who've been bought off by Washington with special privilege is that the Fed and the treasury and and -- and too big to fail or -- -- Lawyers who -- Deeply dependent on the expansion of government and all the educational bureaucrats who feed.
Never expansion.
Of government educational programs -- -- it's it's a much bigger on slot.
Of dependency then.
The -- even the 47%.
Implies and.
And the idea of corporate welfare because that's what we're really talking about theory it it.
It is left out of the equation when we talk about the overwhelming burden.
Of entitlements when we talk about the overwhelming burden.
Of what welfare in this budget which is is who were along with local and state government.
Is in.
Excess of our defense budget for crying out.
You know I I agree but I also think cutting these programs back and improving news programs is all upside.
I mean you can.
Health care.
Improves the quality in the old age of senior citizens who can stay in the workforce longer and fulfill -- This -- they aren't you George -- are all there at all but they are living longer you know well health.
Health care should be a positive efficiency or let it should be improving the value.
The capital the human capital on America.
We shouldn't be driving people out of the workforce at age sixteen -- with premature pension commitments that were made when people.
That died at sixty now people.
Live twenty years longer than they did.
When Social Security with established George -- it sounds like to me is recommending that.
Governor Romney and congressman Ryan -- -- -- -- and I suspect governor Romney's philosophy.
That in every challenge there's great opportunity and that's -- news this.
A great great nation George -- always good to talk -- thanks for being here George Gilder.
Author of the classic wealth and poverty.
George come back -- -- is somewhat.
