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And this Fox News alert -- Is done Federal Reserve chief Ben Bernanke telling reporters moments ago not much more he can do to stimulate the economy.
Interest rates as low as they can go and unchanged today and all -- buying up a treasury notes and bonds.
To keep those market rates -- well not being extended today.
But while -- is done.
Bad advise congress and the president that they are now.
Get hopping on these deficits instead of the sooner the -- to California democratic congress and having of the -- who says that he is -- for cutting but not when it comes.
Program our congress a good to have you you keep Social Security off that list for it.
We'll -- Social Security did nothing to add to these deficits that it interview went -- so there's no reason why we should be making that's the Social Security.
When it didn't contribute to those deficits.
Our but I take what the CBO century you read their report as well that over the next ten years the corresponding -- and growth it's a security Medicare Medicaid without it.
It is going to double as a percentage of GD days so.
Whether they're -- to what happened or not do you have to do something to slow their growth.
Well that's it that's a dangerous that you just made -- I think contributing or not.
It -- if I say whether you contributor not to a crime I should put you in jail.
You probably with a -- that it's a question I put -- -- Well I'm telling you I think that's good driven on gets elegant in this case yes if you know that as a percentage of the GDP.
The -- Social Security is going to be rising.
And you know that there's no money in detail is there and actually -- think it -- cost of about legitimately did anything to do to curb.
At least a growth to slow it down.
-- -- again it's not Social Security remember Social Security is actually be very stable weight to the future because.
After we deal with the baby boomers were actually see a dip.
And the actuaries will tell you that at CBO we'll tell you that Social Security's costs they pretty constant back it's like to get back path about 2035.
The reality the death riders and it didn't -- up to five years so it's doing so great they just -- you know.
So what -- -- -- you would you do anything at all to address.
It -- -- -- -- -- absolutely you can do any number of things that -- a couple of times.
Well you can deal with some of our health care costs by continue to make improvements on the historic health care report.
That already helped -- stick out about 500 billion dollars in waste and fraud from the assistant and so you can build on that but the principal caught later.
And -- CBS -- the health care component and this is the thing that's galloping ahead at three times.
The inflation and I assume they're looking because the credit the president had a putt on -- look and feel right -- later.
If I answer the other reason the health care costs continue to write about because that Medicare.
It's because the private sector cost of health care continue writes faster than Medicare and so manicurist pulled along by -- rising costs and the private sector.
The remember the principal driver of these deficits happened in.
Social Security or or Head Start Programs that are Republicans in the in that it's been the bush tax cuts.
And unpaid for wars -- Iraq and Afghanistan trillions of dollars that we're given away.
Through these bush -- it's both at the very wealthy well I.
Isn't -- -- in Iraq are innocent to.
Bush I mean are we gonna be a situation thirty years from now.
We were still blaming this Flores will be for everything I mean when do we move body just say are -- and a -- We will -- the higher.
The unemployment rate is now from when this president of course I'm not blaming him I'm not blaming the prior president why can't we just focus on the year -- now.
Without going back to these same -- talking points.
-- you know you must must must.
We definitely deal we aren't -- and difficult time we have large deficits.
But you can't just say disregard that thing that drove us into the largest deficits the bush tax that they were the most expensive component.
That we could not -- -- -- Not I think congressman I only do this -- -- Leslie you have to keep -- -- circles but it it I have to keep going back to this notion.
We had a recession that -- -- president was inheriting.
We added closed it into the Internet and all the revenue by -- resident.
Now I'm just carried a recession he came and we had its budget surpluses we.
We he came in and a recession statistically that fourth quarter -- sliding -- reception.
And he had learned -- and -- that's million dollars or congress and -- -- I'm not I'm not dismissing its spending and just telling you we saw the -- cut -- half.
We -- an Internet boom implode.
We -- all the money in revenues from that no way.
You're quite right to -- wars you're quite right to -- these other events -- quite right to -- -- recession.
I'm quite -- aside and -- event called 9/11.
But it does it matter that is in the past what I'm asking though that's not -- the -- now what I miss seeing you -- hundreds and I'm asking you now.
Would there be anything on terms of these entitlements that -- look at shaving or addressing right now.
Absolutely -- I would first tackle the biggest drivers to our deficits which are the bush tax that's fine fine all right -- you just raise taxes that would do it right.
Now well look let's put it on Saturday would not -- one thing you would suggest -- -- answer the question of if it during the Clinton Years when we had the tax breaks that I would propose we send them back to -- we have 22 million jobs created during those eight years.
As opposed to during the bush years where we actually ended up.
Losing -- -- so raise taxes but leave these Italians -- you're not gonna give me one example what you do on any easy I would I would I would put the tax rates back for it.
Those above middle income.
Back to where they were 43.
Candidates -- isn't going to be back tomorrow they worked for a which has raised but you're not gonna dress any these entitlements.
Or any is just got that is sure we are one example I'm -- -- as one example.
There are no -- told you -- to find more savings in the health care system by making it difficult for.
The providers of the health care to charge consumers the seniors under Medicare for example so much money.
For the service and providing them replicated services you say.
Billions upon billions of dollars by making it more difficult for providers to try to gain the system that's a quick quick -- doing it without -- benefits for seniors.
Who need more -- but I sense that that's it's one idea.
There and then aren't there any number of ideas to do it now I'm all -- aren't -- -- thank you in the meantime.
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