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The president's budget.
With Wisconsin congressman Republican Paul Ryan and Treasury Secretary Tim Geithner.
This all happen late yesterday afternoon here is a sample and listen watch closely.
We help lower the trajectory of cost growth in the -- decades -- comes from millions Americans retiring but we still would face even with this framework.
More work to do in that long term demographic challenge well bring up.
Chart -- thirteen.
Because I just don't see the rhetoric match and the results and I look out a year budget.
Page 58 in analytical perspectives.
You say that.
This is your budget says that the government.
Position gradually deteriorates.
That are physical condition deteriorates these are your numbers -- -- it really shows mr.
Jim isn't your deficit get past the -- that path -- which is what this exact notice that our government is making promises.
Two Americans that it has no way of accounting for them.
And so you're saying yeah we're stabilizing it but we're not thinking along on that means we're just gonna keep line of people we're gonna keep.
All these empty promises don't -- what we're saying is in order to avert a debt crisis coming -- the Treasury Secretary -- what.
If if we can't make good and our bonds in the future -- -- invest in our country and -- Went on from there are Paul Ryan Republican out of Wisconsin chairman of the House Budget Committee back with me this morning -- Paul's good to see you good morning you take it easy to -- I thought.
What with the phrase that stuck out the most when I heard that was when you said -- lying to people.
Our government is right now according to the general accountability office making 99 point four trillion dollars.
In promises to today's Americans that it has no way of paying for.
We're making 37 trillion dollars in promises to people for just Medicare alone.
That we have no way of paying for what's happening in Europe is it's a bunch of governments.
And politicians from all political parties who have made all these empty promises to voters.
But they have no way of paying for those promises and so the point I'm trying to make bill is we need to be straight with the country about our real fiscal problems.
Tell people not honest situation and then come up with solutions.
To make sure that these empty promises are replaced with programs that provide real security that people can actually.
And we're not doing what was somewhat easier -- the -- budget numbers the blow your mind let me get to those in a moment what did you think -- -- response.
He's he's good at testifying he's good at making sure that you have no YouTube moments I suppose even though -- just put those on.
He's a Smart guy but he doesn't want to really face up to the fact that their budget really does nothing to improve our debt situation.
In fact their budget tries to claim credit.
Four pass laws for the budget control act when you strip away all the budget gimmicks in the accounting tricks and and Tim knows this.
Literally there's almost nothing to deal with our debt.
Instead of the -- going up 78%.
Under the president's budget goes up -- 6% to literally doing nothing just stopping congress from doing anything.
Our debt will go up 78%.
According to the president's budget.
But under his budget according to his budget Italy it goes up 76%.
So that's what's so amazing to us it's a budget that has -- spending increases he spends an additional one point five trillion dollars over the next ten years.
But because he raises taxes by one point nine trillion dollars it's the only way you can claim you have about 400 billion dollars of deficit reduction.
Over a ten year period.
A 47 trillion dollars budget.
Over ten years is not -- economic average of debt.
It would exit its eleven trillion in debt increase over the next -- -- right yeah I don't get your head around that.
It's tough for people that put their minds -- -- these things the problem is those debt levels that we're talking about their their worst in some European countries.
You know they they get the levels of we're Greece -- is in so we're saying.
Look at what's happening overseas in Europe.
That are immediately pulling the rug out from under seniors they're cutting benefits and retirees after they've retired they're cranking up taxes.
And slowing down their economy they have a youth unemployment rate around 30%.
So this ought to be a cautionary tale to us.
And so what's really frustrating disappointing to us is we have a president who for the fourth -- in a row.
Literally is not proposing to do anything about it.
And that's what is unconscionable to us you know we're putting -- pledges to fix this you know far from the outside looking in it appeared about a year ago that everybody was breathing fire on this issue.
Now it's just folks like do I -- -- -- what changed in Washington.
In elections coming up and the president.
I think he mentioned it once in his State of the Union Address the debt.
The biggest threat to our economy today into our children's future is this fiscal problem this debt.
And here's the issue -- the sooner we deal with it the better off everybody -- because if you keep piling up more debt and keep kicking the can down the road.
In the end is that much more uglier -- you have to have sudden urgent cuts and tax increases.
That hurt the economy that hurt seniors that hurt the safety net.
Like you have in Europe and we need to avoid that by stepping up and leading in putting out -- fixing this thing.
And the president has punted on the issue for the fourth time in a row and what's really pressuring the senate hasn't passed a budget for two years and they already announced they're not gonna do a budget this year.
Again for the third year.
And the -- says we need to pass a budget every year so that's what's so -- about this bill.
And when we put out solutions all we get our negative advertising demagoguery.
And finger pointing and you know so you wrote this week about the illusion of fiscal responsibility and -- wonder people get you have three kids.
What's great country look like in twenty years this is what motivates me bill and -- looked at the point night.
Knowing these numbers and knowing -- the country is -- and knowing that my kids who are 7810 years old.
Are literally gonna have a lower standard of living and more diminished future the -- we have that's an irrefutable fact.
Based on where we're headed.
And we've always had this tradition in America -- -- -- the next generation better off -- you know that's the American idea.
And we're confronted this this generation of leaders is -- -- the fact that we might sever that American idea.
And we need to step up to the plate.
And fix this problem and so since the president's ducking responsibility the senate isn't even on the field.
We feel obligated morally and legally to give the country choice let the country in November it is gonna have to come to this now.
Let them choose what path they want for America and that's our obligation when we shall see.
Months to come Paul Ryan thank you we'll talk again real -- that you bet they'll take care.
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