Payne: Fiscal Cliff Negotiations a Joke
FBN’s Charles Payne on the continued battle over the fiscal cliff.
- Duration 5:52
- Date Dec 20, 2012
FBN’s Charles Payne on the continued battle over the fiscal cliff.
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We get that I don't want to bring in our esteemed colleague Charles -- Hello sir good morning it's always great to see you it's good to see if that's the early -- day I -- usually I'm just in out of bed at this time this is a real treat for all of you read all of us.
-- black -- -- was just saying that recent.
Let tell you.
That's what my answer fiscal -- economic news title together yeah it's all.
My mind and you know -- I really liked the way the markets have been acting.
Income despite the fiscal cliff and all the other tragedies that aren't -- aren't associated with the economy or the stock market.
And in I think you know what.
Listen to me the whole thing is a joke I think both sides what they're what they're offering up none of it really goes too -- to into the question of you know -- and that we're still talking ultimately 20/20 223 point four trillion dollars a trillion dollars a year in interest.
Thought Biden after seeing this whole battle -- in a public.
Over the stuff and it makes me think that a deal will be done.
Especially listened to President Obama is a press conference yesterday I thought it was -- this thing.
-- when when he invoked the massacre Connecticut as perhaps a reason congress and and you know Washington to get their act together.
And I wondered I think you know is he doing this.
To pressure the Republicans.
Or is -- setting himself up for.
You know to to push back its own critics when he has to make more adjustments and -- compromise.
So we're really that I can only develop it go -- I think answers well let's witted out most people agreed it would be both.
So I think we'll probably get something on there but it's so silly because this is fiscal -- adding one you know you talked about what ray -- about what states in -- -- -- -- -- isn't.
Yeah right that's just the beginning -- -- this -- but that's this fiscal -- -- we're actually juggling three balls -- we're standing underneath you know San Andreas Fault it's it's.
It's it's something that's gonna offer -- little -- About the other data set and kind of what you brought up there -- we could double a little more into it is that what.
Even the spending cuts say for example when you putting together mean a lot of times you're playing with numbers to make things look bigger.
Because we know it's too much about this now right we've gone through it where you'll count for example last time around that was a twelve year plan that was kind of we sell wasn't supposed to be ten -- -- twelve.
Or this them winding down some of the wars that's already in their count -- new spending right all these kinds of things that he earlier point.
It's party just says just whatever you're gonna do just do it and because you're not solving the world's problems anyway so -- let's just do it move on I guess is the best we can hope.
For my in you know let's at some point that we do need you know to really have to entitlement reforms I am on that just change in cost of living adjustments and things like that at some point we need both parties to be honest listen Alternative Minimum Tax.
You know I don't know I think that that's the best case study about where we -- -- -- salt.
It was of the 43 years ago they were a 160 rich people getting over on everybody not paying their fair share -- so you slack on what this back to guess what -- they don't get their act together did come January.
33 million Americans will be hit by why.
While wasn't there wasn't adjusted for inflation and that action every time they pass they're coming they keep their budgets though right here but I don't think you do ten year budget the first year AMT patch -- that you have nine years and you assume.
Billion dollars of revenue that your heart you know you'll never get to -- the deficit -- American battling the negative tax return the -- we need -- to cut a check for program that the volume because -- -- a 160 -- was last at 743 years ago that we're getting over on the so.
That's amazing perspective the conversation on this continues to center on taxes and obviously that's our pocketbooks of course we care about that but it's like the negotiation is.
Brutal you know the White House those here -- -- goes there and it's just.
They're inches and nobody you brought up the entitlements that discussion isn't even that's that's an undated on the table -- -- and then later became -- -- -- and nobody cares.
About running these budget deficits.
Well you could argue that you know listen at the mid -- saying they don't get in.
Washington doesn't seem to care or realize what it danger and risk running these deficits are and another debt downgrade this country is facing in the next year.
It's a little they called on political will I think and we -- and why -- have to be politics as usual.
But c'mon we've -- -- -- -- I don't -- -- -- I appreciate your sentiment but you know wanting to talk about and you know we're bringing in.
The devastating events out of -- town masses sorry Connecticut can hardly talk about it.
And talking about what's going on that -- -- trying to you know make a connection about just this whole political and country dialogue and sentiment that were happening it's like.
People should make decisions from their heart.
Whether it's about.
Mostly I'm learning about pocketbook conflict I mean listen here we are at that problem a few days away from Christmas and a lot of -- gonna go -- make the citizens from their heart and -- more than they have.
You know a lot of times you've got it it's gotta be -- -- -- to your point is certain fiscal responsibility but.
It seems like I don't know that you get that necessarily what career politicians who want to be reelected reelected and reelected it might this take.
-- everyone talks about Mario Monti out of Italy -- gotten a lot of things done unelected bureaucrat or or will blow whatever kind of -- -- -- -- I didn't didn't have to answer to anyone and certainly had the opportunity to go in there and and and -- make some real headway.
In a country that's it that's been involved I was more socialistic type of environment for but you know a lot longer we have with the mostly brought back -- -- So it is so -- so I don't know that takes someone like that do with respect -- ultimately I think my for college and -- and what is the real motive behind at all and I think he's on reelection yeah of course yeah -- you Charlie you know Annan might associate eleven.
C eleven outlook and oil burning on hopefully we'll have a listen come.
-- -- -- -- -- -- right we talked about -- definitely you know we're going shopping today our media can't wait nothing about my shopping trip last night now I can't hardly -- thank you mr.
Payne let him.