You're watching...
United Advisors Chief Market Strategist Scott Martin, The Daily Beast Columnist Kirsten Powers and Calif. GOP Strategist Mark Standriff on the federal...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
RA let's get right to it.
Even three and half years since our country had a budget.
And let me be clear not tech about a balanced budget that would be way too much -- I'm just talking about a simple idea.
A plan which congress outlines how our tax dollars are being spent including those extra tax dollars that we're going to be sending the government this year.
Should ask.
This -- have budgets how also of that budgets -- government.
Are right here at money if you don't have a solution you're part of the problems we're gonna help fix it with today's -- Joining us now Scott Martin he's chief market strategist for united.
Hi Kristin powers a columnist for the Daily Beast and a Fox News political analysts and also mark stand -- he is a Republican strategists.
All right guys let's get or let's cures and I'm so sorry let's get right -- I am struggling a little bit tonight -- you got a heavy out -- I don't angriest guy right but I don't get my flu shots so I don't know we're deciding about that I could have a little bit off.
That are all I got are all just just looking at trying to get our books in order here.
If you compare.
What we take in to what we put out -- -- not -- we have a plan for what it is that we're spending.
We have a deficit obviously of 900.
Billion dollars every year I mean.
I don't even know where to start with distressed and what would you deal.
A lot unfortunately as it one person really can't do anything what the reason that that -- half way to get there yeah yeah.
Somebody getting idea I don't want -- -- the -- know them probably as you'd have to be able to get the liberals and that.
The moderate Democrat.
To be able to negotiate with each other which is really what the holdup is an end because they don't feel any pressing need to do it because.
Everything keeps getting resolved through these emergencies.
You know the fiscal -- negotiations the debt ceiling.
-- they don't feel like they have to do it and I'm not gonna pretend I'm a purse and who could go into the senate and get these people to talk to each other and to come to some.
Kind of conclusion and to do what they're supposed to do -- am at it that this is so out of control and so unacceptable.
And and that they think that they should be able to operate this way to I I'm just be honest with you I wouldn't even know what stars mark.
What do you think what's the first step to getting a budget together.
Well I think the first thing we need to do is it deal with the pressing problem of what are we really negotiating about it is it about a talking about.
Cutting spending or are we talking about spending more that's where the compromise comes in and unfortunately.
-- we're at a point right now with the Democrats -- we have Republicans are trying to put the brakes on the car before it goes over the cliff.
And the Democrats want to negotiate about how fast the car should go.
So you know in my mind it until we get to the point are we gonna discuss compromise on spending or compromise on cuts that we really can't get anywhere.
But -- did you got to have a balanced budget Scott -- get a budget at all that's perplexed is because we're looking at me right there we were looking at a graphic.
That was showing us just the difference between the budget but the president has and what the house -- put out.
I mean making and agree on how much we're gonna spend the president's budget proposal -- this year's three point eight trillion.
Houses proposing 3.5 trillion we think come together on -- road map much less something that's balanced what do you think that is.
Yeah its really far apart I just -- because it's probably been one of the best say earth -- thirteen 151.
Best days -- maybe president Obama's career because look at me what you like -- and Charlie why do we keep racking it up well because the money keeps blowing and I -- you always -- -- taxpayer.
That seems to be bottom was so yeah you're gonna -- spending their money.
I'm -- give your household or what -- -- here's the thing I mean mark brought up an interesting point you know what are we debating about.
And I got to Harken back to my days of watching TV on -- they -- parents more and sing like the Brady kids come to an agreement on how they wanted to spend this money they want in this.
Contest and -- I think you do you put together a list of Mattel's claim.
The credit you might want -- yes.
Here's the thing yeah we remember in it's like you put together a list of what each side wants and -- you -- -- tit for tat right.
You if you come to some agreement on a spending cut but only if there's a tax cut and you go through this list and try to figure out how you can Parse those things together so at least something gets done.
OK Scott I love that idea -- and asked everybody to put something forward of what they wanna do I go first I mean in the spirit of getting something done I wouldn't mind getting rid of the Commerce Department.
I was struggling to figure out what exactly it is that they deal you know I looked it up I -- they spend eight billion dollars I can't really figured out they they.
Have they promote train to help create jobs.
I don't really know I think that was the best I could come up within their whole description I would get rid of the Commerce Department piercing you know next what would you do you.
Coming getting rid of the Commerce Department nowhere is that really and that -- -- you don't like my how many -- has back.
-- million dollars.
I don't you know is well I don't have to do something big went to do something with defense spending.
And entitlement spending so you know I would be happy to start with either of those you know do -- something on and on.
Raising the Medicare eligibility age I'd be happy to cut some money from the Defense Department.
I -- we just -- we have to make some tough decisions -- two thirds of our budget is defense and entitlement everything else is just pittance even talking about it I feel like it is just it's nothing.
OK mark those are great points what do you think about you don't we say we do 85%.
Across the border you do 810%.
Cut to defense and then.
You make some big changes to Medicare what do you what would you put on the table right navigate.
Well first of all I assume we're continuing this -- Brady Bunch analogy instances view and no interest in -- cart yeah.
Yeah.
It whether -- like.
Yeah here.
All right so.
So here's here's what I I would because I think the big elephant in the room if you'll pardon the expression is entitlement reform okay -- we -- a system right now that basically.
The rewards overspending and malfeasance and until we can't can't come up with some kind of reform measures that develops a market driven system that.
That that rewards good behavior and and lowers rates I think our long term fiscal health and budgets.
-- we're gonna we're just gonna keep hang gliding over the fiscal cliff year after year.
Got you think as a way to sell battery or is that something that more Republicans want and we would have to give something on the other side to get Democrats -- the table.
-- big entitlement reform like some serious cuts -- defense spending maybe I don't know.
Yeah I mean but the question is Melissa hot tea just from these negotiations will what the Democrats really ever come of the -- table on entitlement spending -- -- Maybe -- -- you increase the upper income bracket -- 50% maybe they'll talk about it.
But but person's right I mean entitlement spending is the place to start.
I'll just tell you I mean this is gonna -- me but I'm 34 years old and I'll tell you a lot of -- -- -- aren't nearly all counting on China's yeah.
Yeah I know I'm getting old and here's a criminal there was a lot of people my age are looking towards Social Security right now we're not looking towards Medicare and Medicaid.
You have a chance to change the rules on those things now while people my agency -- order.
Aren't exactly anticipating them like a lot of these older folks are that these people want the votes from.
OK all right we got to leave it there guys thanks so much -- and actually saw the promised to send you -- on did you -- we may have to do this.
I don't know I -- that I don't know ER I think you so much thank turning to oil.
