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Is America Capable of a Serious Financial Course Correction?

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    “After America” author Mark Steyn on America’s mounting fiscal crisis.

  • Duration 5:26
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Well -- fundamental dishonesty at the heart of America's financial crisis my next guest says Americans.

Really seem to want European.

Size government.

With the current American sized and -- 01 of the other he says has got ago.

Will -- joining us now is mark Stein author of the best seller after America get ready for Armageddon also -- recording pop.

-- The results what my laughter gonna volatile -- holidays CB making spirits bright some are available on Amazon and iTunes now.

And I'm trying to think how to do them version of the web stuck idiot for weapons.

It is sure that the book is -- -- sign is here to prove deployed and it's good to have you know that I wish you lots -- -- and by the way.

Mark Stein dot com yeah that's ST EY in.

Veteran mark with a K and and I gotta cover.

That's that's right as the -- was stunned with a lie as -- buy your eyes.

Have to take lessons from this -- positive foreign what's wrong with America.

Well I don't see anything and -- about a -- so a lot of original father and some and damn fine -- -- brought to bear.

Against what are otherwise some rather simple minded politicians that -- in new people quite grasp the importance of solutions.

You do.

Well they have the I think that was the real question because the question of the hot in my book and I think the question of in the election that the well -- -- announced that there is is the United States capable of serious -- correction.

And I think in both on November the state and in the so called fiscal cliff so cold negotiations that followed we are telling the -- Other the United States is not capable of serious schools correction and that we'll have catastrophic consequences.

For America.

When when you say catastrophic consequences tonight it seems as if we are.

This broadcast has been organized to prove your point there's Bill Archer we're joined his former house Ways and Means Committee in 1996.

Through.

Was president almost the destruction of the government.

Under President Clinton and a speaker Gingrich.

We have his experience we have also has experience as a member of the budget commission.

Put together by President Clinton which.

Came to nothing -- just stands the Simpson Bowles commission came to nothing.

And -- this fiscal clip as it's being managed by this president.

It possible problems.

Well well that's really they have their bad points you brought up -- is that when you have European levels of spending which we now -- But you have traditional American -- rights -- panel -- -- -- Americans have a sudden self image -- him just stick keep it local -- Canada Americans think of Canada.

As a sort of semi friendship feet socialists monetary.

Total government spending in Canada is about 42% to GDP it's now 41%.

In the united states of the difference between a study manually.

Republic of limited government and self reliance citizens and the semi -- -- French -- McCain is actually just down to 1%.

We actually spend the government spends more per citizen.

On the average American -- the French government does on the average Frenchman.

Mark and I think you're being compared to Americans we think of quote back and have to respectfully but not all of out of -- and we think a good -- I refuse.

Should that should ever reach extreme I've ever done that building a maple didn't feel better get -- shape and it's as we look at what is happening bill larger -- -- -- talking about 86 trillion dollars in unfunded liabilities.

As we cannot manage -- in the sixteen trillion in debt.

Or five consecutive years of trillion dollar -- since the last brought to us by George W went from all parents right well.

I think I think that the point here is that when people make comparisons comparisons were irrelevant because you can.

Run the numbers -- -- times -- GB debt -- in relation to GDP or whatever when not quite as bad as Greece or Portugal would have.

But they just told him out of -- keeping billions the T -- of the trillion what.

Is really unique to the United States and I think -- that's what's gonna kill us the absolute numbers.

There's -- Germany can afford to bailout -- nobody can afford.

-- to bail out the United States and I would agree.

Actually -- bail out -- that good and kind of anything I think he understates I think if you take the total debt situation.

They're talking about just shy of -- -- -- a million dollars power American -- So every time you know you get a cup of coffee from the waitress in the China think of loading three quarters of a million dollars of debt on her shoulders for -- For what has nothing to show.

-- will be her children and their children -- portions of will be paying.

Large measure that price or sinus great to have you with us.

Making spirits bright mark Stein dot com.

And after America with one of the agrees pictures by of a an American -- to have our toe -- And a fall.

-- do men and the albums they add to look at where they had a role.

There's at least some balance here and you know how much are president was balanced marksman brings -- to -- in the marketplace it's great to have you with such as well Arcsight objects.

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