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Former U.S. Comptroller General David Walker on the President’s speech and plans for his second term.
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For its money minute speech donuts and a deficit imitated dad David -- -- And vegetables.
-- is that well he did say deficit he didn't say debt he didn't say spending.
He talked about the need for tax reform the need to look at outdated government programs and health care costs.
Look this was a left of center speech kiwi was talking to his base.
It was the issues that he wants to focus on I think we have to see what is -- say in the state of the union.
That's the substance that's about governing what's in this budget which will come now and march.
What does he do it OMB you know people -- talking about OMB.
To me that is a very critical appointment and we'll send a minority.
It might be critical but in my secret review any and all these this is my secret -- deal but they did not appear to be front and senator this president now they might very well pop up to be more important that he let out in his address.
But isn't this address where you at least start -- And a broad strokes.
-- he could have said more there's no question about that.
And he just touched on some the issues that I talked about.
But the key is as I said this is about vision this is about touching.
On issues at his base cares about I'm really interested to see what does he say in the state of the union.
What's in his budget and what does he do about it Wednesday.
The but it's so many and then the Democratic Party are saying things that -- you've heard we want it -- follow up on more tax increases on the wealthy.
We don't think that there is a real spending problem is what does that health -- spending problems and other words if it did talking like that and acting like bad and and trying -- get an edge in these negotiations saying that maybe the way we're debating the issue was wrong and that's a problem is -- not.
Well -- is because the facts don't support that clearly health care spending is our biggest challenge next to interest.
The fastest growing expense under current law once interest rates go back to more reasonable levels will be interest.
Health care is the second fastest growing expense.
But the federal government has gone from 2% of the US economy.
To 23%.
In the last hundred years it's projected to go to 37%.
By 2040 under our current course.
You can't say that spending is not a problem.
It's true that health care is the biggest problematic problem.
But we've got -- problems we have to deal with and we're gonna have to do copy -- -- tax reform and you're gonna generate some more revenues out of that but it's.
Would you create a grace period to do it right -- yeah -- did you need to do a deal in 2013.
We need to do a -- -- when he thirteen because they're not done an even number years.
For obvious reasons Picassos well how you know this town well Dave how likely is that I don't wanna be cynical -- jaded but that's a tall order.
The answer is I think we'll know a lot more when we hear the state of the union when we see the budget.
The Republicans obviously decided not to make the debt ceiling a big issue.
They're gonna give a three month extension they -- they've embraced no budget no pay and one -- the national co founders and no labels that's our signature.
Legislative proposal that's an important step.
But you know we need to focus on spending it is a problem but frankly we do need some more investments in critical infrastructure etc.
But they have to be coupled.
With a clear and concrete credible or forceful proposal deal with structural deficits.
Hope springs eternal as they said -- thank you very -- to be where -- much as we -- thing.
