Herman Cain speaks out on 2013 budget
Former 2012 candidate on President Obama's proposal
- Duration 7:02
- Date Feb 16, 2012
Former 2012 candidate on President Obama's proposal
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Budget numbers today the.
Not the president's home in case that is not 999 on -- try 355080.
Former GOP presidential candidate -- and came here to explain 3558.
Eight please explain -- Three numbers and three assumptions -- the whole story.
When President Obama took office.
The national debt but every man woman and child in America was nearly thirty fat thousand dollars at the end of 2002 -- -- This year based upon the numbers from the office of management and a budget.
-- did get (%expletive) every man woman and child will be approximately 50000.
Dollars per person.
This is in three years if we go we -- President Obama budget.
That he has proposed eighteen years the national debt for every man woman and chow would be nearly 80000 dollars put Purcell.
Down let's do it this is insane it is it is and those numbers are indeed shocking but I put it to you yes.
If the debt was a big deal back in 2010.
It was a big deal last oldest when we were downgraded but it's lost yet -- Powell lost its faults.
The debt no law it just an opinion I don't think it has the political traction that it had last year and the year before and you say.
And I say you -- right for the following reasons that three assumptions that also make this budget fantasy land -- Juan.
They also a GDP growth rate.
I'm an average of two point 8% per year -- would in sixteen years with the high point -- four point 1% still put my good friend.
They haven't hit two point seven says he has been president the second incorrect assumption in addition to the GDP growth rate.
Is that they can raise nearly two trillion dollars in taxes.
And it will not have -- depressing effect on the economy -- you and I both know you raise taxes in an endless downward pressure but -- the third assumption.
They are also -- and it gets back to -- point.
That 50% of the American people are economically challenged and they are.
They will not be able to understand it and that's why well some people it has lost its political appeal but.
People like me and you and all of that -- kinda wake up America have got to sound the alarm.
Now I'm not running for the presidency but I've got three numbers for you commentary and a day off nine.
Ten and twenty.
Nine billion dollars a week in interest payments alone right now.
Nearly ten billion a week by the time of the election and twenty billion dollars in interest payments alone on the national debt.
By the year 20/20 two if this budget is accepted.
Now I I would've thought that when you talk about that kind of massive interest payment you get some traction what do you think.
I think we can't Stewart but this means that we're gonna have to continue to -- that that that message I am your numbers.
-- just as equally compelling.
Let's take your three numbers my three numbers and my three assumptions and put them all together -- -- financial disaster.
Can we say Greece yet you think Obama got a lot -- you do you that you haven't already -- to agrees you know yes we headed on the road to Greece and here's why.
-- that way out a deal this continue budget deal.
If it passes I think is going to pass than his brother -- -- on a compromise slumping.
That's instead of us being fast going to financial destruction they might slow it down a little bit and the other thing he has.
If you look at what's happening -- with the -- and you unions pushing back because they are delusional they don't want to accept the reality of what the situation is.
In this country do you is all really positioning.
These -- Wall Street protests is to be ready to create chaos.
If we get a congress and a president we've got women to make the tough decision though what a second we've got a congress who got a House of Representatives dominated by Republicans which is.
Almost certainly going to vote yes on a huge increase in spending at a big.
Increase in the deficit this idea because they all gonna vote in favor -- all of the payroll tax holiday extension of unemployment benefit extension they gonna vote in favor of it.
-- do think they have lost their resolve.
I believe that -- -- -- that the current house have lost that resolved.
And they are trying to politically positioned themselves which I believe is a mistake.
Here is our only option -- Stewart but those of us who get it but both of us who do not wanna see this country stay on this road to despondent -- to destruction.
We've got to take keep control of the house take control of the United States senate.
And I'm -- say we have got to -- President Obama packing because he is and his administration.
Do not have the best interest of this country at heart I am convinced of that.
And -- and -- 850% of the American people are.
We've got to work on getting other people -- sound the alarm.
Mike I'm trying to sound and a lot of other people to -- -- -- sound that -- connections dot com okay Mitt Romney.
Will -- yeah CNN debates on March the furthest and -- take on that his watch.
That's good for Newt Gingrich bad for Mitt Romney I think the Mitt Romney needs to be in that debate.
Is down to technically all the thoughtful person race I think -- a mistake for him to skip that race now.
If inconsistent with his strategy.
I thought what the money that he spending here in Georgia -- advertising that he wanted to try and take -- he was down.
That's not the way to do it.
Newt is gonna be there were strong however I'm going to be campaign and -- -- political class service on a jump right in but I'm just CNN has counseled the debate I just got back just a second ago -- -- the device can.
So wow consider left without.
Well given that.
If given that it was going to be good for new if they didn't -- to debate.
Now that they've canceled -- -- make it's still good news.
-- -- -- -- -- -- -- is one of those states that I believe will rabid bat around Newt Gingrich so -- not have a debate.
I don't think new losers as much as Romney -- along I'm sorry to interrupt like this but I golf ball -- for you an idea why now I know what what that is breaking news yes.
I did and I'm down.
Dancing with the stops.
Stuart my good -- and the answer is yes well and here's why.
If if they want -- need to learn how to do an eight count and I can only do a nine camp -- on top all of that was a good.
Well look how all this -- track.
Fantastic how McKay what a pleasure thanks for being with us appreciate it it's always good -- I enjoyed -- -- things.