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We got some breaking news for you right now president Obama's Health Care Reform measures depend on the fate of the proposed trillion dollar budget.
And it's about all the budget continues there will be no shortage of debate joining us President Bill Clinton for -- that and the Center for American Progress president.
John and that's mr.
that's -- that you -- what the surplus atop the U.
-- -- -- You're talking about but -- to us about the budget on the same day the president is talking about Health Care Reform.
A lot of folks out of investor types coming on and -- nervous that there is too much spending coming out of Washington and the new administration.
We -- slow things stand -- what he's saying.
Well look that the federal budget can't get back into a sustainable -- half unless we deal with -- Exploding costs of health care particularly Medicaid and Medicare but I think this is.
Situation that doesn't just affect the federal budget it it affects family budgets business budgets around the country.
We've got to have more cost effective.
Medical care in this in this country and we've got to make sure that people can afford.
The care that they need.
A big part of this course is raising taxes and getting revenues to go into the treasury but could you clarify something for -- because during the campaign.
Candidate Obama was talking about raising taxes on the top 2% and ends.
There was some talk about maybe not because the economy with last fall all of a sudden change things.
Then -- came back to the budget where there's big tax increases and then yesterday.
Secretary Geithner kind indicated maybe you're backing off on those tax increases for now can you clarify what.
Those tax increases are going to be in win.
Well look the president has put forward a budget that debt gets -- do.
Into a sustainable path.
And with respective.
Tax increases that he talked about in the campaign he's decided not to.
Try to go back and try to eliminate bush tax cuts for the top 2% this year but let them expire when they're set to expire in 2010.
Geithner noted died yesterday.
You there there there needs to be revenue on the table about.
In this health care plan he's put about by half cost savings and half revenue on the table.
But if people have a better idea about how to get that revenue than they should they should come forward and do it and that's what discussion I think will be bought today.
Well I think the question now -- your -- depending on.
Revenue -- depending on the forecast the economy is gonna prove in the fourth quarter of this year but at the same time that people that you want attacks at the top are saying -- well.
Implode right now because of the market because of the housing crisis so what did you don't get the revenues later on this year that you're depending on to spend -- -- point.
Well for example I think I've done this question of health care if we don't get the economy at a sustainable path that includes.
Bending the curve on on health care costs.
Then that wealth will never come back we've got to create a platform.
Where businesses can -- and families can -- by having golf affordable quality health care -- It invest in wellness and disease management and lower the overall cost of health care.
Companies that compete globally today I just can't afford to do it because we're spending twice as much.
On health care in this country as our competitors in the industrialized world.
Vanessa did -- give me a political science lesson is our our all these programs so many major programs.
Being pushed through now because.
If you don't do it now you won't have the political capital.
There'll be elections mid year mid term elections.
So -- -- strike while you can while you got control over everything and a little honeymoon period is that's what's is that what's driving all these major.
I I think what the president has done is to say a starting with the recovery buildings already signed into law and the budget that he's put on the table.
Is of the long term growth and sustainability of our economy.
And making sure that we have real middle class jobs in this country is to transform the way we use energy as do.
But reform the way we provide health care to people and -- to invest in education that's the long term future for the country.
And he's trying to get that done.
This year by making major investments to keep the economy from sinking further and -- taking on these reform.
Efforts to make sure that we have the path to long term sustainable growth.
The -- we don't have much time idea but just real quick.
Do you think we are gonna see a major health were reform initiative coming out of of the White House very soon as in today.
Well I think he's gonna put some very strong principles on the table and try to work with.
Bipartisan leaders on Capitol Hill we've already had a lot of activity particularly in senator baucus is finance committee to go to try to put.
Us some ideas out on the table the president of course had a plan that he.
Indoors during the course of the campaign and I think that's his starting point.
But he wants to hear from others to see how that can be improved aren't jumping -- and great talking we thank you for joining us on Fox Business -- come against our.
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