You're watching...
Former President George W. Bush Adviser Brad Blakeman and Cato Institute Senior Fellow Dan Mitchell on the potential impact of reaching and passing th...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
I'm Gerri Willis in less than a week President Obama will be sworn in for a second term.
But it's the last days of its first term -- raising alarm.
From demanding Republicans immediately raise the debt ceiling and worry about that has -- out of control spending later.
To considering as many as nineteen different gun control measures measures.
He could enforce without congressional approval as -- gears up to unveil his comprehensive plan tomorrow.
Our president seems to think of himself well it a little like a keen instead of our elected official -- -- for hill.
Joining me now Bradley -- former advisor to president George W.
Bush and Dan Mitchell a senior fellow at the Cato Institute Dan I'll I'll start -- yield.
You know 01 difference seven years make here's the president back in 2006.
On the idea of raising the debt limit he said that the fact that we're here today to debate raising America's debt limit in -- sign up.
Leadership failure it's a sign that the US government can't -- -- -- bills I therefore intend to oppose the effort to increase America's debt limit.
And hearing is begging for the debt limit being raised now that he's president what do you make of that.
I think that the president was right several -- to -- when he steps aside and out of control spending and.
Fiscal irresponsibility but all of a sudden now that he's the one doing the spending he seems to think it's just wonderful peachy keen idea.
Fine and dandy it's -- responsible thing if you don't forget that there.
Brad do you -- got -- back and looked at the last time.
You know the government was not paying its bills 26 days back in fiscal year 1996.
Clinton was president.
And let me tell -- the only really bad thing that happened is that we furloughed a lot of what is called nonessential workers from Washington.
What is the ultimate impact if Republicans don't agree to go along with the president and raise the debt ceiling.
The ultimate impact is the president won't have to make some tough choices.
But this is a guy who says do as I say not as I've done and you correctly point out he voted against.
-- raise the debt -- what is a US senator suddenly.
The tables are turned when he's responsible.
For our debt and if the president is Smart he'd be a little conciliatory.
To Republicans instead of unduly.
Another challenge and then there's no -- -- -- here duration in fact not far from -- you know the president says the responsible thing to do.
Making out like that the Republicans don't want to do anything responsible or they're not concerned about the nation's debt.
What would be the consequences of letting that debt ceiling just.
Not paying any attention to it wouldn't be -- -- -- the present right is this going to be something bad for the country.
Not necessarily what does -- -- -- answer your brochure that if we wind up hitting the debts.
-- and there's no increase what happens is overnight the government have to go to a balanced budget.
Now consider we have deficits of a trillion dollars plus.
That's not an easy task even for those of us of the Cato Institute who want to dramatically smaller federal government it does not.
Mean default the federal government is collecting ten times as much revenue as needed to -- And at that point bread CEO.
-- to me introducing legislation.
That would force the treasury to prioritize spending and deciding what bills to pay -- let's think that the -- getting money and every single day.
I mean there's tax dollars don't just come in on April 15 they come -- the all the time.
That's right and the present will be forced to do what you and I and every other American.
I have to do every day and that is prioritize.
Our expenses and if we we would not default we would prioritize that which must be paid.
First and then we would have to make tough choices as to what is necessary and proper for art for our government to be spending.
That's what we should be doing every day and quite frankly that is why this president's failed to lead on -- budget because he just doesn't believe -- he believes there's no end to spending.
And at the -- well terminal B somebody else's problem.
At the end of -- will be somebody else.
This problem.
But but here's one piece of advice I would give to Republicans there are two big fights coming up.
The continuing resolution that the rest -- of the CR what is the rest of the fiscal year 2013 spending.
And there's the debt limit.
-- the debt limit we've already seen Obama's gonna demagogued that he's gonna send Bernanke out to rattle financial markets.
He's gonna really bully Republicans and that's going to be a very tough fight to win.
On the other hand if they pick a fight I'm spending on the continuing resolution.
That's where are we saw -- 19951996.
Republicans achieved a huge victory by fighting on that annual spending -- I think that's probably.
That better stronger ground for fiscal conservatives and people who want smaller government that's where they should stake out the fight.
All right I I have to move line to the tone of yesterday's press conference with the president Brad.
How would you listen to what the president had this and say at the tail end of that conference shocked me want to know what you think.
This truism about me not socializing from -- folks on the back.
All that stuff.
The most people who know me.
Norma -- them pretty friendly guy.
And I like a good part of.
It's pretty friendly may be with friends of excited that whole press conference that didn't seem very warm and friendly to -- what did you think.
I think he was -- he was condescending.
And and he was lecturing which he loves to do.
But certainly on the eve of his inauguration he should have had a press conference he should've let his inaugural address lofty.
And and and and high spirited -- his rhetoric for the next two weeks and then of course we have the state of the union where -- be a little more bit more biting but -- To be antagonistic on the -- there's an -- makes no sense.
Well I especially when you're asking for people live to compromise with you to work with a unique to accomplish some effect.
I've kind of shocked by that the -- you -- acted changing up topics here just a little bit.
We're gonna get some measures introduce tomorrow on gun control apparently at the vice president's putting forward -- many as nineteen possible executive orders.
Is the president overstepping his bounds here.
What's the difference between America and some.
Country that's in deep trouble like Argentina were supposed to have the rule of law.
And we have a system set up our founding fathers a democratic system with a congress and the White House.
And for the president to you know Arnold -- unilaterally say he can change government probably.
That's very reminiscent of one of these banana republics and.
It's not just a question of it's bad policy it's also what it's doing to our to our very system of government I can agree with you more.
Brad TUO just quickly we don't have a lot of time last word here the -- that is gonna surround himself with children at this news conference what do you make of that.
I I think using children as shields to do something that overstepped your power.
Is it is reminiscent of what he's done.
On on health care what he's done in the EPA and his strategy is if you don't like it Sumi and we have we have seen him on health care and immigration.
-- EPA is just another one of the strategies.
To to -- use his power in a way he knows that he shouldn't it.
Degree to photo op though and I think that's what they're looking at Bratton Dan thanks for coming on tonight great having you here appreciate.
Your help -- nagging break -- onset.
Nice nice change -- Coming up --
