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Former Sen. Phil Gramm, (R-Texas), on the President’s spending and energy policies.
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Although there.
And we've got a big -- -- who knows that room very well ran for president senator.
Former Republican Texas senator Phil -- knows all things numbers they say about -- that if anyone knew where the news.
I guess the fiscal bodies were buried and and how the math and -- the sausages put together in Washington mobile local budgets that the senator does an honor to have its.
Thank you very well listen asset there for Tony for years never want to associated union address.
That there would -- basic excitement.
Yeah not this one is -- -- worrying some in your party senator that.
It's gonna talk up more executive actions and measures to combat climate change and a host of other fields -- -- A lot of new initiatives -- spend.
But.
Nothing that will shrink to do not know will look.
This is is basically the same speech in the same program.
With the president gave years ago.
That program -- -- would year's -- was five trillion dollars worth of new debt.
And yet today we have three million fewer people working than we did when the recession distorted.
In -- for every man woman and child in the country 700 dollars less than it -- When the recession sordid.
So unfortunately.
The -- thing about the whole processes.
It's Groundhog Day.
This is -- same speech it's the same program program hadn't -- in the last four years.
-- -- the most disappointing recovery and post war America.
And unfortunately.
I don't see any sign that -- woodwork over -- Well it's far from avoiding more spending he's doubled down now he promises in his remarks and I visited -- -- -- -- have been released for us.
That is are gonna add a dime to our doubts that that's a whole separate issue.
But there's not going to be this zeal to attack the debt until the -- -- that you've heard already -- senator I'm sure the White House believes that it's very close to.
The fort traded in in budget cuts -- we over the next ten years and that's that you know that is not what the favorites from Johnson's.
One point 33 and seems to be pegged to these sequestration God's.
Two and a half three and two re asked cuts that never happened anyway.
But that's it that's as far as the administration's gonna go out and after that -- to -- -- -- -- You know nonsense is done were done with -- what do you make -- Well I it's sort of an escapist.
I mean every once in the process lending isn't a problem that's blogs well -- is that probably it's obvious the president believes is did the problem but we added five trillion dollars in debt the first four years.
We were on our way to another five trillion let me put that in perspective.
That it if it if you take that average interest rate on the five year government bond which is they have returned to review the last six to use.
That 400 and that -- billion dollars a year in perpetuity until Jesus comes back.
That would one have to -- in interest every single year.
That's more than we're spending on defense is -- we're -- we're spending on non defense -- more than Medicare.
These debts build up and they for.
And I think it is clear yet it the president talks about -- guest brags about rolling gas production.
And yet anybody who knows anything about his program knows.
He has fought it every step of the way he rejected XL pipeline he's denied drilling rights -- outer continental shelf.
On public -- And tonight he's going to propose raising taxes -- pulling yes there so nothing new here nominate -- looking forward to be here.
Quick response even Republicans should challenge well.
Look the president always has an advantage in these -- -- he speaks with one voice.
Republican speaker we've stood at 280.
Bullets and and they don't get to choose which ones Ronald television so.
The president it has been very clever and a very good politician but in that in and we hire pros it's to make America work and America's not working and this constant attack -- rich people.
Is producing policies -- Basically for middle class working for him while they're gonna be looking at the -- hearts and rich people and they should get more competition.
Well look if you look at the top 12 and five -- of income earners in America.
They pay a higher share allow our total tax bill didn't even -- older.
12 were 5% of taxpayers in in -- a developed country in the world so what does the -- that won't what is player.
But how will slow this.
This is all sounding -- -- more like an excuse.
Not to do any thing about spending.
Senator thank you very much Joseph Biden the --
