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Mattie Duppler of Americans for Tax Reform on the long-term issues with the nation’s growing debt problem.
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-- -- The national debt sixteen point two trillion dollars and rising fast.
We know this is a major issue for many of our -- may be the biggest issue for you.
We are spending money now saddling future generations -- this massive debt that really you know going to be able to repay.
His what union leader Richard Trumka said about the national debt he says the national debt he's not not a short some crisis.
All right this is what President Obama said on David Letterman was in back in September.
We don't have to be worried about it -- -- both of them talking about debt and already right don't we have to worry.
Joining us is -- outlook from Americans for Tax Reform -- I could say.
The president and Richard Trumka -- got a point.
I mean it would all gonna have a debt crisis d'souza will have a debt crisis next week or next month maybe not even next year.
He's very cheap to keep borrowing money interest rates -- an all time record lows.
So why worry about it tell me why should -- worry about it.
Well the president from car right in a one cents -- -- that we have these massive drivers of -- that we're not addressing we're not looking at Medicare we're not looking at social security and these are the things that ultimately are going to bankrupt the country.
But think makes me concerned hearing this from you know.
Left wing leaders hearing this from the president is that to say that we don't need to deal with the problem now.
Is to ignore the massive spending that Obama has presided over in for him to try and ignore that fact.
I've presents a problem for us now you know we're not like you said interest rates are low.
But in no way are we an economy that's not beleaguered by big government and the uncertainty that tax hikes just -- Did you know as as -- listen to these negotiations is going on over this this fiscal cliff on here Richard Trumka really loud and clear saying look.
Borrow.
Keep all right you must I don't cut spending on Medicare and Medicaid as you mentioned -- can't do that you -- tax the rich -- -- pay for it by taxing the rich but you're gonna keep on spending a we don't care about the debt.
-- -- think we're on the same lines here I I think that's really really dangerous got.
I agree I think entirely a look back last year during the president's fiscal commission you know you've had the -- Simpson Bowles plan emerged from not talk about what the -- who voted against Citi -- that it did too much it caught too much.
From these entitlement programs it did too much to cut back on government spending and you know as a leader of the labor movement he doesn't want to see his projects cut back he doesn't want to see.
Federal -- he wanting to.
Stop what he wants is a big new infrastructure stimulus exactly that's exactly that -- hopeful that.
Many Democrats it is not our guides are Obama's second because I've got a lot of red -- news aren't connected to hold on I'm gonna get your comment about second.
Okay red ink on to number -- the Federal Housing Administration FHA.
It post a deficit all but.
Thirteen and a half billion dollars it may require a bailout -- and a half billion -- -- to.
Did you think -- the five billion dollar loss from the Postal Service last year it was big this year it lost almost almost sixteen billion dollars sixteen billion.
Raising stamps a penny will not fix that -- -- come on back it.
Two red ink items.
I suspect that they will be bailouts.
-- and a half billion FHA sixteen billion Postal Service that's a bailout -- government spending.
While you know -- is really a hardly a surprise given that President Obama when he first came into office promised all of -- recovery measures.
To get the housing market back on track and he hardly spent.
Probably spending did she hardly spent a penny out of a lot of ads programs out the fact that FHA is now -- having problems is not really it's not really surprised.
I in terms of the postal -- office we've had a lot these problems you know for years we've seen the writing on the wall but we refuse to confront these costs and that's another good example.
Where we have a lot of labor problems standing in the way you know 80%.
The post office costs come from its labor agreements and come from the burden they have to take on for their workers in the not that -- unwilling to make concessions just -- any of these on any -- union contracts that are just crushing the entire price.
-- you're right he's just I I think a lot of our view -- -- -- sixteen billion dollars to the post assessment that's peanuts.
-- -- -- Investors like we all borrowing.
Borrowing an extra three and a half billion dollars every single day so -- if we keep the Postal Service go with a sixteen billion dollar bailout and -- inclination is that could you can't wrap your arms around these massive number it can't get to grips with the.
Right that thing -- viewers in -- take away is that this is endemic this is not -- you know one example that as a problem that we're pushing by the wayside.
As you -- -- that FHA you've got post -- at this could be sad.
Firm majority of what's happening at the barrel level we have IN feasible untenable -- that instant on ninety -- but refused a lot of private market to take over the post office a superb example about we will.
Have to wait for another day -- but I'll have to pose this question can and -- politician gets elected also make reelected if they segment.
I'm gonna cut this cut back cut back I'm -- cut the focus of assist which you like if you get reelected.
-- What -- look what happened last here's our last week steer we have a House of Representatives that pledge to do.
Just that cut federal spending but -- these entitlement program that's the big difference between Republicans and Democrats right now.
Is that Republicans have a plan in the Paul Ryan plan.
Two seat in these mandatory spending programs whereas Democrats on the right to bankrupt that all right we listened to have -- it up like thanks for much in there right now we.
