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I'm Charles payment for Neil Cavuto in us lawmakers whine about it automatic spending cuts the news our deficit topped 205 billion dollars -- last month.
Gina London says of Washington is crying over small cuts.
We're going to worry about this monster of a deficit.
To storm by -- would Brooks and port O'Connor.
-- -- -- -- I wanna start with did this is does not mean the big time money piles up -- we keep looking at this 85 billion which -- a grand scheme of thing -- the proverbial drop in the bucket.
And the drop in the bucket is exactly right Charles if you look at February.
At last year compared to February this year we wind it down -- in our deficit each year from the 235.
Billion last -- 2012.
Billion I believe it is like to fight.
Billion dollars is all we've done with a 600.
Billion dollar tax hike.
That we just paid you look at those kinds of numbers -- have to multiply that times eight.
In other words -- four point six or eight.
-- trillion dollar tax increase on mostly middle class Americans just to stop adding to our debt.
This is really where we are these clowns in Washington DC make a big Greek.
-- -- politics yeah you know really fiscally.
Found these -- -- what what do you think about that.
Well I mean she's right on the 85 billion dollars.
Over seven months which is what the sequential rule -- from march wanted in the September and we ran way over that in one month.
And the reason we have to get our debt under control is because that's how we're gonna really turn the economy around.
Our debt is now over a 100%.
Of the size of our entire economy initial really constraining growth this one reason why -- seeing.
Such as stagnant recovery you know come forward I guess at this point can we all -- we do have something of -- spending.
Well I I think we do in it waited shows is how ridiculous the president sequester sugar antigens were -- bit the deal here is very simple.
The -- president thanks so we can tax our way out of this and he doesn't wanna talk about the fact remains we text everybody in this country.
-- made over a million dollars this year that a 100% that would only bring us up to 726.
Billion and the deficit this year loans can be.
Eight to 900 billion the bottom line isn't -- -- modernize entitlements Medicare Medicaid Social Security.
Which -- 62% of federal spending and with 101000 people turning 65 every day it's gonna continue to grow so we don't address entitlement this is gonna continue in the in the sad part is the president want talked about it.
Because by not talking about it essential -- could wind -- -- you know we just added jobs number the president may say look at that have really robust jobs number so.
Maybe we are getting people back to work we -- ever taking the attitude it's been a whole bunch of money and have a robust economy.
I wish that were true it's not that simple and we all know it an -- and nobody knows -- how those numbers really break down yet.
But this is the deal is this is a print and -- does he -- that this president has had us on.
From the beginning of his presidency and and that -- his approach to this.
Americans are gonna have to make a decision and certainly the GOP in Washington DC is going to have to make a decision whether they -- that gonna continue this -- -- doce -- and continue to just tax people to the -- up.
Four point eight trillion dollars if we're really talking about taxing -- debt away.
Or are they gonna cut spending and it's gonna have to be -- cut and they're gonna have to have some serious spinal cord.
Which -- just not really seeing out of either side right now.
You know maybe -- want the answer will be sort of like this payroll tax hike when all of the new healthcare law taxes kick in.
And we already -- now where at least 35% number than be paid by people and families that make less than a quarter vermilion here.
Maybe when it really -- hit mainstream wallet the people who heard the rhetoric heard that they will be immune from this stuff maybe that's when the tide turns.
Well I hope so it look I have.
More confidence -- -- is turning Charles I mean if you look it 2004 government spending wasn't even an issue.
And it was still you know bush was still spending and he was spending about as bad as Obama but the point is if you looked at what the public cares about.
Right behind jobs and the economy is government spending so.
There's still a long way to go and educating Americans on on the difficulty in addressing this problem but really.
The modernizing the entitlement programs as Ford was saying but I think we -- Americans come along way since 2004 Charles.
Whether they know Ford -- censored -- because we Americans have come a long way.
And yet you know the election outcome was a much different than four years earlier.
In this still must issue -- people not wanting their entitlements the because they're okay with the notion of cutting them but just maybe -- line.
Well that's the American way unfortunately if we're actually gonna get the debt under control both parties are going to be have to be honest.
The GOP is gonna have to say you know have some spinal cord -- would sign but also the Democrats are gonna have to be serious about what the effects are.
And and to be perfectly honestly we can all sit here and talk about this but really the folks out on main street really don't know about this all they know is that we've got a serious problem and nobody's explained whom.
Why it's eventually gonna hit their bottom line.
How do you explain that to them and in a way that makes it gives them a sense of urgency because.
A lot of times when it's explain it feels like okay you know what were some real -- gonna happen -- thirty years from now.
Well that that's it.
-- right if we don't get this under control essentially there aren't going to be any more jobs -- your buying powers they go down right now a lot of people say gee you know.
We need to increase the minimum wage because the price of -- going up the price of notes are going up.
The value of your dollars going down in the end of the day whether you're rich -- were all in this together and we've got to put America back on a path to fiscal Centre right.
Does did -- -- you want in with you.
The idea that both parties can be quote unquote honest what the American public is that where I lose all hope.
Perhaps it's definitely gonna take them tough talk and again the GOP needs to stand their ground and -- I really believe this would be the Smart thing for them.
Not only economically but politically the American people are feeling that they they packaged this -- as at at that this 600 billion dollar tax increase as supposedly on the rich we all know this hit.
Taxpayers more than anyone else and most of those people -- middle class so that Washington DC is lying.
Lying to us and if the GOP would call out the Democrats on this I believe it would it would really behoove them to do so especially right now -- is.
One -- it's not just the GOP calling them out it's also explain the problem we can -- the GOP has the high ground right now.
But both parties really have to be in this together absolutely we may not -- the and we need -- want to really truly articulate this but you guys by the way you did a fantastic job doing that and I appreciate it.