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Better Off with No Deal than a Bad Deal?

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  • Description

    WSJ editorial board member Mary Anastasia O'Grady weighs in on fiscal cliff negotiations.

  • Duration 3:16
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We.

Are waiting for remarks from present a bomb but as time ticks down to get a fiscal -- deal done.

The Wall Street Journal is saying the country -- might be better off when no deal at all rather than a bad -- Let's talk about that of Mary Anastasia O'Grady the I'd.

Journal editorial board member whose here with us in the studios -- -- -- Mary thank you for coming in.

This idea we talked earlier.

That's Bob doll I guess investors on the top best in the same questions that some people have different views some -- just wanna give them the way and others -- be very very careful what you wish for what's your take.

Well I don't think -- on what we know right now that any what were wishing for just getting it we don't get anything out of the way.

Right -- -- agreements in the compromise that's on the table right now I mean.

Let's remember what the whole sequester was about we have a problem with that and -- spending in this country and the reason why they put.

This in place that there would be this -- Was because they want and to.

And force the politicians.

To.

Resolve that issue and I don't think you get anything done by just saying okay we're gonna raise some taxes here.

And let's just kick it into the next you know -- comical about it is in the -- the president's idea he actually does want to spend more money in some ways and have more stimulus.

As part of any deal what is the fundamental problem I mean basically the the whole problem here is -- type is entitlement system.

It's it's too big it.

Offers too much and it will make us bankrupt.

And so you have to have cut entitlement reform if you're gonna fix this problem I'm not talking about fixing it between now and January I'm talking about.

Fixing the problems so that the US government is not taking.

Such a big part of of what we created wealth and using it to run government you have to be able to have a smaller governments so that.

The private sector could create more can use that money -- be more productive can hire people and so forth.

That's the real deadlock here.

Do you have a sense because we've been through this now -- it's.

At first it used to be it did to you statins -- it's comical and at this point it's just annoying to go through this every year at the end of the year.

Every time the debt -- comes up which it's about to come up again.

You have a sense of how we get past all this or or if we do in the next few months.

Well I think there were actually at a pivotal point where we're gonna decide if the US is going to remain a kind of country -- -- for the last hundred years where.

You know if you are born into a lower economic status there is mobility and you get that by limited government and growth.

And if we decide as a nation because we vote for people who want bigger government that we're gonna have government taking say 25%.

-- GDP in taxes we -- gonna have a slower growth country.

And then the model is gonna look different opportunities are gonna look different won't be a different country that's fundamentally where -- and I think.

You know that the president keeps saying he won the election so therefore he can do what he wants but you know let's face that there was.

You know that did the Republicans won the house and a lot of people who sent those Republicans to Washington sent them there to shrink government.

Thank you Mary its currency thank you semi him -- back any time yes soon please I don't to back to the issue.

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