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I'm Bill O'Reilly thanks for watching us tonight why President Obama does not seem to want to solve the economic dilemma that is -- subject of this evening's talking points memo reports today.
Say that Greece is about to default on its obligations go into bankruptcy.
Why very simple Greece is an entitlement state -- -- government spent so much money it can't possibly -- steps.
Here in America we have a similar situation our government -- spending so much money we can't pay our debts are either.
But because -- USA generates trillions of dollars in revenue.
People keep lending us money.
Raising another Ponzi scheme scenario you remember that right.
That we borrow that -- we run up more and ski.
You would think -- Obama's first priority would be to drastically cut spending right get the deficit under control by eliminating expenditures -- country can afford.
But as John Belushi once -- No I cool.
President wants a balanced approach to getting the -- under control revenue enhancements along with a few cuts nothing drastic much you.
But is He balanced approach fare.
So to speak.
From 2007 -- 2010 when the Democrats control congress America -- five point two trillion dollars of the data record setting amount in a nearly four year time period.
That is directly -- Nancy Pelosi Harry Reid Barack Obama and George W.
Democratic Party embraced the incredible spending and presidents bush and Obama go along -- it.
Finally we the people are beginning to understand it can't do that you must live within your means or economic disaster will bite you.
President Obama wants us to believe that by taxing the rich He can Begin solving the enormous economic problems we -- But the government is already taxing the rich.
According to Tax Policy Center.
The very few households making more than a million dollars a year in this country will pay an average of 29%.
Federal income tax.
Households making between fifty and 75000 dollars will pay 15%.
Households making between twenty and 30000 will pay just 6%.
But even if mr.
Obama is successful in raising the tax rate on a wealthy he's not gonna get much money.
There are about 350.
Million Americans and just 230000.
Homes bringing in more than a million bucks a year.
So it's a ruse.
A class warfare illusion.
Taxing the rich is not gonna make much of a difference what will make a difference is -- forming the entire tax code to collect more money.
Modifying the Medicaid and Medicare systems.
And a 10%.
Cut across the board on all government expenditures.
If that would happen.
America's economy which war money would -- here from all over the world unemployment would drop business would expand and happy economic days would be here again.
If this beds do not cut spending past the -- Limbaugh.
Greece is -- word with apologies to frank.
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