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First Trust Advisors Brian Wesbury, The Daily Beast’s Kirsten Powers and Cato Institute’s Dan Mitchell on which agencies, such as FEMA and the FHA...
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All right we're gonna start tonight -- special holiday tree.
It's the week before Christmas and all -- the house lawmakers are frantic and starting to -- Not clip.
Though they do say they care.
But for more and more bailouts which could -- -- care GM has been saved they are snug in our beds but images of FEMA.
FHA and the post office now entering our heads.
Are -- potted palms -- can't take anymore let's go straight to tonight's game who did the bell -- booty is who used the coal in their stocking joining me now.
Can't tell CNN make out his list in the west -- -- know enjoyed my little -- chief economist with first -- by you get right.
Shares in hours he concedes that's rallying elegant get a chance that a second along with -- -- -- -- beast columnist -- Fox News contributor Dan Mitchell of course.
Senior fellow at the Cato Institute I know he's not going to be -- right.
Jingle -- sent us bail out smell.
Friends -- good job.
All right let's go to Melissa exactly we have -- joke this -- frankly because it's so depressing we're watching the government today the reason.
We're talking about all this is because the government is getting out of the giving to get out of a lot of its final set of shares of GM and -- they sell out over the next 1618 months the price manages to stay where it is taxpayers are still gonna be about seven billion dollars in the all the whole thing.
But you know the government will call it.
You know victory and look forward to our next bail out which could be the FHA Brian Wesbury what do you think let's look at our list.
Would you enter -- bail out how do you feel about the FHA.
Yet what I look at your Lester yes last elicits that it's the post obvious -- it's.
That in the next on the list but yeah eventually.
You know what one of the things that's happened in the economy over the last few years is that.
The only people making long term fixed rate mortgages at such low interest rates.
-- is the government.
Yeah and and I believe this is it this -- we're gonna have the SNL industry all over again that taxpayers are gonna be on the hook.
For.
The billions hundreds of billions of dollars of losses because you won't be able to fund three and a quarter three and a half three and three quarter percent.
Thirty year fixed rate mortgages when interest rates and inflation are a lot higher than that.
So wait so -- I'm unclear -- are you voting for here you voting for anyone on our list again for our audience -- -- the FHA.
Which an independent audit last month said it was facing sixteen billion dollars -- deficit the post office we'd love to talk about them they're always in trouble.
Sixteen billion dollar net loss for 2012 we -- -- -- -- only got 850 million dollars in the bank that's not gonna last very long and then there isn't a pension benefit guarantee core.
-- back everyone's pension out there.
-- of 34 billion dollar deficit over the past year -- you're talking about about forty million people.
This pensions are as a because -- our top four contenders right now and.
That there are all gonna who -- bell all get bailed out Melissa this is Christmas after all good -- They all well and and that's why our government budget is so big -- out of control and and it's because these agencies.
Really.
King and to do.
What -- what they're charged with doing without creating massive losses we keep promising and promising and promising more and more things to more and more people.
And I always cost more money.
Pearson what do you think pretty think needs a bailout this group.
Why don't really see -- as bail out say see them as the government overspending.
And now it has to be paid for so it's once it's once the government spends the money that there's no way around that they have to pay the bill so the problem is they shouldn't have been spending the money in the first place if you don't have the money.
You shouldn't be spending and if you wanna look at post office if they can't provide the service -- they need set.
Cut jobs they need to raise however much they're charging you for them now but they can't just spend money they don't have and Melissa this is the problem weekly chart -- that shut them down and -- any other option I'm -- is right yeah but it.
-- -- You know they just spend this money that they don't have you know and it's not and coming have to be done and where that he knows how to how -- -- congress can pass something -- you just can't spend money that you don't happen yeah.
-- that I -- we it's not obvious we we could.
