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President pushing new spending to boost manufacturing

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    Pennsylvania Congressman Chaka Fattah weighs in

  • Duration 11:09
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No money.

No credit.

No problem.

You -- caused this guy's got to cash.

-- zillion dollars today for manufacturing.

Another billion just two days ago for Green cars.

Eight billion dollars a few weeks ago for student training.

The president might have a problem would drill baby drill but Republicans watching him today saying apparently no such problem.

Would spend baby spent.

Welcome everybody glad that got Neil Cavuto and perhaps it was appropriate the president was -- Rolls Royce plant in Virginia today and up the -- guys.

The airplane technology guys.

Pushing four billion dollars in new spending too great a national network that would promote manufacturing innovation.

Republicans calling it another boondoggle for taxpayers Pennsylvania democratic congress and talk of -- talk calling it another boom.

For the economy congress and -- -- deal.

Was great to be here you know we've had almost a half a million.

-- -- jobs -- our economy over the last 24 months it's really been surprisingly the leading edge of this recovery.

In which we've seen now another two I did.

24/7 thousand jobs added.

But manufactures at the heart of it you know and we had a group of -- -- is meeting in Orlando this week.

We have people all over the country.

Focusing on the fact that as a country we need to be making products.

We need to be selling them everywhere but -- we can't have an economy in which would -- stuff from everywhere else to know were off.

Well understood but if those numbers are right in the senator doing as well as you -- terms we don't need to be spending money anymore to get them right where where we're on all cylinders.

Where you has always been investment.

By the federal government and creating an industrial base and our country the way way to kind of Winnipeg in order to invest after money.

And we don't have any money right we wanted to have trailed early but believe it or not -- and an even fox agrees we -- the wealthiest country in the world.

That's number one we -- we have the most actually edited country in the world -- there was a time when -- had money hand over fiscal we don't have it.

So -- -- -- a lot of meritorious reasons to continue these investments but normally -- you invest congressman you invest with money.

We don't have it look.

We have a leading man of faxes in the world and in the wealthiest country in the world but the only way we've got hundreds and I just said we're -- where a lot of debt let's say you wanna tell at least he's what -- -- we don't have that money.

You might fancy that we're very wealthy and in a lot of ways we are -- wealthy in spirit.

We're rich and generosity but we have -- you know what did too you know want it.

So so.

To support more money against a credit line that we tapped out.

We can't do.

-- Act as -- this was a family right if you had a mortgage debt -- you're in com would you be okay -- would you be in a challenge situation.

We have a debt that we need to pay.

I have only bill that's ever been introduced in the congress -- to get the country out of debt I agree with you but.

Part out leading.

Globally this economy is that we have to make investments known as -- Leading globally is also to provide example and you know that better than anyone because you're one of the few Democrats actually one of the few congress and period.

Who sees the danger of what we're we're continuing to build here.

And so you've got ahead of this and said all right we got to.

We gotta get this debt under control we got to deal with us.

And you talked about normally if you have a mortgage and all good people know that you owe more than you make.

But the fact of the matter is as a country something weird happened a couple of months ago that has never happened.

The total of what we eclipses everything we make that has never happened in American history -- that's an example of the world.

Then then I'm a poster child for Bally's fitness I think -- While you know when when the country's at war we have -- in debt before and we've gotten ourselves right side absolutely -- -- war congressman is very different.

Very different.

From spending money on some Green projects are some new initiatives that might or might not have value but when when when you don't have the money.

It's far different than life and death matters.

Well look when you see the jet engines come out of Pratt Whitney in Connecticut are the dreamliner rolled off the runway in and then Seattle a Washington.

All of these major improvements would done employ in large measure -- federal investments and composite material.

And jet engines science I mean none of these things has happened.

-- -- -- -- -- Or not we -- the Boeing the credit for that you're not giving Boeing Pratt and and what it's been doing on its own to build its businesses you're saying Uncle Sam made that -- Lob general -- on Motorola I spoke outspoken on the floor commending Boeing but that 200 improvements and aeronautics.

That the airline industry is used to Boeing included.

Came -- based research that was fully federal taxpayer funded the composite material that's fully.

We're gonna see -- that our other two -- -- you that there's some good things a government and it here's on the same -- and I I really think without parts in erupt in -- yeah.

I think this is what's -- about Republicans -- Democrats.

You cannot strategically invest that -- you do do not that you cannot dig deeper Pitt and hope to get different results you can dot.

Pay all via credit line and hope that.

You can maybe get better results the bottom line is beggars can't -- users I know -- think we're great superpower and indeed we are answer.

But we are flat.

Broke we don't have the money we are done to put.

We will have the money we get our debt under control we'll have the money we've got a deficit under control and then we'll have a lot more -- has to address some of the things you want and Republicans want.

But until then -- it's like the family and that that's what I wanted to take a trip to Hawaii and they asked me for financial advice I -- -- I would do the Poconos.

I'm just saying we have to realize where we stand and I think many in Washington don't.

Well we we had to -- a fifth flower show today of Philadelphia -- -- -- theme this year is a wise so I would knock on Hawaii I'd love -- and I just thank you cannot and wanted to go -- Let me just tell you this right this country has to make investments if we want to lead this world.

We don't have the money doing the best militarily don't have events -- -- you know congress and this is how.

Invest in our military and Bartlett -- say the same -- we talked about how we got -- strategically invest that -- we don't have.

When we get to Bennett controlled then we'll have money to start strategically operating.

But until then it's like the family that wants to do elaborate things on a budget that doesn't recognize the realities of what they wanted to help.

So they have to re digger don't use state consumers do what families do it out now we're -- And asked to do let me visit -- -- deal with some facts and we can argue about which -- -- ago.

We are we -- had the lowest tax races sixty years.

Okay with the wealthiest nation in the world all is that that we don't have the money we don't have the political will.

To finally here's what that.

We don't well here's an analytical so congress is political will is saying.

-- to the checkbook both sides saying -- -- -- -- political Willis thank you know what.

There is more money going out a lot more money going -- coming in the political will the political -- the nerve.

Is to say.

I'm gonna close to checkbook it's over now we have this then what we need this spin that they really -- -- Terrorism we -- nothing yes and and what we know we have to -- we do we've done an army war we -- money.

But there are as minus -- -- this is that the essence of hard to debate right now on our country a war is very different.

Then just saying -- we -- so I batteries we're at war has -- -- You know Solyndra.

-- -- Somalia you cannot equate a new battery with getting battered.

We in art and our checkbook here we did not surprise right -- we don't have -- on Ryan's.

They don't -- already -- take a look at its main take a look at Portugal take a look at Ireland.

They've discovered what we're -- -- -- reluctant to ourselves the pot has run dry.

The European allies got together last week is that because of United States investments in clean energy they now have to make investments in order to compete -- us.

In the end the -- going to some of these jobs so.

What I'm telling you is that these -- the right direction as the go it I think we should raise taxes.

We should get rid of the bush tax cuts aren't -- -- well and they go down as the Bowles Simpson wrote I have my own proposal.

But you don't worry about the whole sense of here's a funny thing about -- they didn't -- spending an hour they did not edit new government do it we didn't build the federal highway system.

That we did invest in Miami monarch is we have money -- bill I don't know I don't say -- -- grandiose lifestyle you've got a wake up.

You know.

You you you don't have the money to do what you're doing.

You don't know about -- you know I know that I know that in that company that you work for investors have to get made you have to borrow money.

Because in order to be at the top -- -- game we had money on the make -- -- that.

Company makes money.

Other companies make money now you're right he still has the Israeli -- into what you don't do so when you don't have the money to strategically and asked.

This company can create money out of thin air you have that ability congress and you can.

That's what makes it -- -- when you're talking about strategically investing americans' money.

Down the same road where we don't even have it to go down -- And wrote that's on concern.

-- 24 months of straight private sector job growth almost four million new jobs and -- at.

Had already been -- -- that I want I gave you credit rent -- cops say it is bad stop.

Cease and it says you can stop now.

Where blood America is -- go forward and we wanna do what we need to do what we need to do is to have a generation of politicians who prepared this say let's pay as we go let's -- he -- generation of from politicians who say stop.

Who -- -- I'm not gonna bring any bacon home for my district I'm not gonna bring any bridges over my district I'm not gonna bring -- schools.

Home for my district are not going to be building any highways and my district.

I'm gonna go back to my district and I'm gonna brag that I did not -- for that's how I didn't spend a penny for that.

-- that will do you really collected more than they'll probably get rid interface.

The Philadelphia zoo which is all the zoo and a -- is a great place I want to become bring your family.

There's no I don't parking lot and transportation sent -- federal earmarks are a million dollar we need them best.

In our cities and -- defense and it future generations.

Well you know -- I guess dreams are -- I do like your video but unfortunately.

If you think we can invest that -- we don't have.

Then and -- in bad -- You know now -- -- been a do step bill -- debt free America bill well until they don't get rid of that -- you'd put the -- down.

Put the checkbook -- the only bill in the congress to get the country debt very well so I'm I'm which you on the debt side but I'm also say we -- to -- needed investments all right congressman we can respectfully disagree but thank you served its had a great weekend.

And -- -- -- it is six is beat the Utah -- -- -- terrific.

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