WH wants $50B in stimulus spending in debt deal
Is now the time to be shelling out more money?
- Duration 7:54
- Date Dec 1, 2012
Is now the time to be shelling out more money?
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With a fiscal doomsday thirty days away and all of us sixteen trillion bucks in the red news any time to be selling out still more -- hi everyone happy to have him Neil Cavuto went so much for those spending cuts to cut our debt.
Lot of Democrats calling for billions of dollars in new stimulus spending.
And get this it would be part of a bill.
Aimed at avoiding a cliff created by more spending.
Be following this why not maybe these guys sort of Ben Stein sought to Sanderson and along with Adam Lashinsky and Charlie Gasparino.
Charles Payne are you kidding me.
And minus -- -- -- was Mitch McConnell -- -- you left because you wanna cry.
It hasn't here's a crush somebody you'll let simply because you want -- you know here's a -- the idea yeah.
Just wanna open itself so it was November 2011.
Do you want thirty days away from this thing are you serious what does -- want to fifty billion stimulus -- what's.
It's just not it's crazy it's disingenuous and if this negotiating and this is compromise.
And we -- a lot of trouble this is the ultimate power grab you know.
They're two Derek -- the country isn't -- essentially split almost completely in half and this is saying today that the other -- forget about you forget about small businesses forget about.
Moderately successful couples who did everything the right way we're gonna -- you and parts of future success of anybody who want to do well in this nation senator he's in the senate.
-- you -- is very have -- rightly so I mean the the president's odd proposal right now that's on the table as John Boehner.
I'd detailed this week he basically said this is not serious proposal in serious he's asking for more spending but know what -- and most conflicting as -- -- which is the conversation the national conversation become.
Nearly we raised taxes.
Or else and if -- -- the president is saying that that is the only option on the table and if nothing else happens.
It's -- republicans' fault that we -- this clip we go into recession in the new year.
See you don't believe in Charlie Gasparino when he says.
Or Jay Carney -- that says we could.
Deal with spending cuts -- I front as well I don't know why anybody is surprised by by this -- example I think this is the I think this is basically it I mean I don't think the president -- -- bush I mean.
There's a delusional nature -- -- Obama you won 50% of the vote.
If he thinks he won 9% vote and that's how -- -- right now and I will tell you this I don't care what anybody says.
There is no rational reason to raise taxes right now you don't get enough revenue to deal with the deficit.
And by the way we got two point 7% economic growth which people were jumping up clap and about the markets where.
But that's still pretty house all of that -- inventory build a capital that it won't happen again.
Well one reason to raise taxes we have a one trillion dollar deficit.
But I agree with Charlie we we've got it is cut this nonsense out about how we need fifty billion of -- his famous look we're already running three billion a day -- deficit spending.
We don't even know the deficit spending is stimulus that we don't have definitive proof that even that is -- -- that.
But we're already running such a huge deficit.
In less seasoned poker -- in this is opening.
Did did to throw us off base that that's not a -- has -- Basel but -- would we're just not we're just not doing seriously -- and to 16100 Pennsylvania Avenue and I think he -- the about population now all of a lot more responsibility and showing.
Adam I just worry when they started Nate you know of that a Christmas tree out of -- and they start throwing more and more ornaments on.
Because well this is the next big piece of legislation -- republic together.
So we might as low puts -- spending in -- in this case a minimum of fifty billion others like Chuck -- talk.
About trying to find a way to wiggle media half -- trillion dollars for a you know another construction effort here and -- -- -- Well course unfortunately Neil.
Gets -- that's how our legislative.
Don't find it ironic that -- you don't find it ironic that part of a year and fiscal -- avoid her.
What is meant to address spending is including measures that -- spending.
Well I'm I'm getting there I mean I think it's curious to let me know what you do we -- tonight.
I had -- -- I have not even gotten I sense -- where there and it just.
But but here's the point you know you that you mentioned in the at the opener and then again that this is about addressing spending -- of course it's about addressing.
Spending but that's not the only thing it's about it's it's -- there's obviously there's two ways to address this.
Right through spending -- -- revenue it's about both those things the president has said that he's open to entitlement reform no matter what Nancy Pelosi.
Says Leo I don't think they are on the toys are good at he does have a -- Exact -- I mean this year.
Give me one detail that he's.
He's put out there in terms of containing entitlements he's not he rejected his own deficit reduction panels recommendations mean this is a guy.
Who is dead set on his agenda which is extent expanding the entitlement state not contracting it.
And I'll tell you I still haven't heard a real rational reason what you need to raise taxes right now -- get enough revenue for it.
The wins talking about it when he's talking about if you don't know it can't -- would you take money out of -- -- -- -- as -- -- little anatomy and he deserves to end.
Your question I don't.
-- -- He's talking about keeping taxes where they are for the great majority of the country Charlie he campaigned on this.
He wanted to be left -- -- -- -- -- -- and -- vote on it and I hope he doesn't.
Better you know you know what you know -- is that it's political it's not a political -- not no I'm not saying.
No I'm not saying that is there's you know any rational reason why let you share based -- religiously but he what is your rationality to treat a small business person.
Who makes 250000.
Miles a year employs ten people just like.
Steve Jobs won't -- could win -- -- -- the -- -- the right amount is Charlie let me finish we can quibble about what the right amount of whether it's 250000.
Whether it's 500000.
What the president is trying to do well -- Yeah accordingly while.
It's -- that help kids would this part of that.
Whatever your views on taxes I think it's baked into the proverbial cake it's happening and -- are -- -- earlier point it's it's there -- what would.
Deeply disturbs and worries me.
There's not only is there a lack of results are slowing what is the growth of spending because of cutting -- to.
What we're gonna -- and a bit and that's what worries me because it this is the effort in the measure used to finally get serious.
This is not serious.
Warren Buffett laid it out on Monday in that New York Times -- that he said in an ideal world would you still have deficit spending every single year the president.
Laid it out more than once -- an ideal world we're still we're not talking about cutting debt we're talking about increasing it at a slower rate.
And then the -- on the I dealt fifty billion in stimulus all.
And let's remove the debt ceiling after all I think it's really we're the only country that doesn't let -- like -- think -- let us.
I wonder what do we -- give -- the clip -- And really didn't say I was not I'm Eric quick reminder by the way -- of the sixteen trillion dollars of debt that currently is on the table for the United States.
Six billion of that that -- has been put on the books under president Obama's -- -- -- seized six trillion in here we are we're talking about adding to that.
Up with these numbers and Charlie point what who what economists and he's citing sources be citing Al Gore yeah yeah.
Guys -- -- Douglas and Warren Buffett said it earlier in the week it's not about economics it's about making people feel good about this waging.
This at this fear and anger toward rich successful people even if they are only making 250 -- and we did start to -- with what did you say where does he -- numbers on -- -- Fine I just want to make sure I heard that correctly.