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Staples co-founder Tom Stemberg on the need to rein in the government debt through spending cuts.
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We don't all of this too late for -- of course then for the guy who wanted to make him president -- chorus and Romney but Staples co-founder Don standards as -- Be too late for us to address that government warnings first laid out.
By Mitt Romney of course -- -- -- right now though what do you think of this or or Tom -- to what bill was talking about.
While I think we do a very serious problem as bill points out than.
Is that -- -- points out he basically years.
Bringing in 2.2 trillion a year you're spending three point eight trillion a year and you're ready sixteen million trillion in -- That math doesn't work and we all have to give and I think.
You know you say the people at the top have to give -- I think that was true.
And you saw their taxes go up from 36 to 39 point six they're paying another point 9% Medicare tax.
If as many of us do have investments were to -- three point 8%.
I think he's -- make other investments.
All -- I'm gonna -- a lot of that is what I'm gonna -- out of that.
You get off of all of that going after guys like you sixty billion dollars a year and it doesn't make -- rounding -- and what we're wasting in a matter of few days.
-- what's shocking you think congress should get the message you know.
And they come up was emergency bill for the flood victims in New Jersey New York Connecticut -- Delaware.
But it as -- an illegitimate bill we've got a 150 and they have for Alaska winter bill does that the rules -- facility end.
When -- buy new cars -- by our Homeland Security.
Because congress just doesn't yes.
That's a -- -- on it we can't show any backbone on the brink.
What are we gonna do when we think all right we're not quite on the brink right now we could Billy dollar the other week we have been.
We I just think.
What America is looking for and I believe.
You know people say that the president one based on the -- his economic program was the more popular one actually disagree with that.
I think he won because.
People voted on issues like.
Contraception.
And like immigration.
And those issues one the president -- -- -- You're part I don't know is okay you and I don't know I agree on their part -- that I will give the president is due.
In the end he ran a very good campaign I think you could argue not just want explains to but it does get my next question.
This you can argue the president a good point that one of the consequences of a -- election is to raise taxes and guys like you.
There -- now.
What I'd I I'd I think the president misrepresent and Democrats -- that is that it took the onus off their back to cut spending.
They dropped that resolved this year but I don't know of Americans were saying take a pass a cutting spending.
Actually not and that affect -- Simpson vols.
It bipartisan commission appointed by the president that's they mentioned they ratio of three to one to three old expense cuts.
For every dollar of revenue.
And now the only no -- ever talked about.
And he would be -- -- of that then I heard some democratic got an economist on the day talking about the fact.
That the president's already offered a trillion dollars in cuts and reference these Medicare cuts.
-- fact the matter is what -- these are real structural change in Medicare.
What you do is tell your doctor -- pay even less -- we -- you before.
And each time congress and the president -- courage rescind this as they already have so that's not a cut.
And you have -- -- cuts and frankly some of these cuts affect me negatively.
You're gonna means test me for a firm for Medicare and I shouldn't get full full -- full cost of health -- paid for by the government.
Why is that so difficult to do.
You know that's a very good point I -- -- believe.
Tom that they should take from you and leave me out of that so whatever level has our severe dollar more than -- making but on Tom the good points all very good avenue again.
Happy -- -- thank you so much Hans --
