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Bolling: Sequestration Doesn't Really Cut Spending

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    FNC's Eric Bolling sounds off on government spending cuts and exploding debt.

  • Duration 3:36
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This transcript is automatically generated

It is obvious isn't it we've got a huge reading -- sixteen and a half trillion dollars with the debt bought President Obama continues to sound the alarm.

Over a measly 85 billion dollars with the -- that he's only 2% about spending.

Eric -- joins us now.

It's a question -- After we have a expect to get a handle on how massive debt if we can't well just 2% story you and I both know -- -- by the -- we're not hiding anything.

We are not cutting it Don this is the biggest this is what we should be reporting all they on this channel.

That -- -- sequestration cuts 85 billion dollars out of a projected 150 billion dollar increase year over year and it goes up from there.

There's 5% increased 2% next your 5% a year after that 7% the year after that six and a half percent year to that.

We're talking about hundreds of billions of dollars in increases.

Year over year or -- whatever the sequestration is doing.

It's not actually cutting any spending it's cutting the increase in spending thing about this.

If some kids -- spending a lot of money this year they're gonna spend more next year there has -- even more the following your every year they're spending more more.

If you say one year just don't spend increase spending as much as you did the last three or four years you can still spend -- just don't do it to the extent you've -- -- for the last three or four years and they go crazy that this is exactly what's going on the consciousness is costing Washington style means not a cost not a cut all -- -- lowering the expected increase correct -- it -- it's taking a little -- -- top off the expected increase that there are gonna go -- and -- Here's the problem sort.

Here's what we getting we getting bipartisan.

People in leadership in Washington saying no this is a bad idea sequestration abetted the outcome of the first out there that said.

We should swan dive off the fiscal cliff into the -- of sequestration because it's the only -- you're gonna get any sort of slowdown.

Slowdown not the increase the debt sort of slow down the deficits and debt.

Not decreasing but at least in which at least may be slow -- down to a certain extent.

Washington both sides of the aisle are saying no we can't do that -- be terrible for us they're gonna create a whole bunch it's scary scenarios planes will be coming down your kids won't be able.

All people won't be oblique accused of his bottom -- -- the end of the -- they're gonna get a deal together and -- tree that was close don't ever question of some spending again because neither side.

Neither suddenly things will be a deal.

Absolutely -- -- and if there was a deal -- governments we stayed there till midnight the night government was gonna shut down two years ago remember that.

We were here until five minutes before midday big got to deal they got to deal five minutes after midnight on fiscal cliff -- -- that one a couple of months ago.

Although get a deal and -- -- but but don't ever do that's what's again he almost lost airplanes the president -- these if these cuts happen on Friday.

Then the planes building mid flight delays right OK but with 350 less -- and Ohio and is that accurate will be about it's this is a great point it's a huge point.

Do we have planes flying right now yes yes we have it to aircraft carriers in the Persian gulf right now.

Yes we're not spending less money next year we're spending the -- -- there where there were requests to suspend the same so what does that picture so we don't have -- -- aircraft carriers back now do we tell the president decide we're gonna do it because we've got these false fear mongering from the president's straight down but it goes on leadership on both sides were fair -- said.

Don't do this you know why because they'd -- to spend it like to go back to the district on both sides got to say hey look -- I got to look at the defense contracts are guided Boeing in Missouri or.

Or -- Lockheed Martin in Kansas.

They both like it so.

Yet be careful you hear one thing to the bottom line is look we need to stop the -- to cut spending for real.

You know we always brings his a game doesn't he's name is -- -- and we you really like coming on the show Eric thank you exert --

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