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Senate plan ignores key to shrinking debt?

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    Columnist Mark Steyn explains

  • Duration 5:46
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Thank you very much Juliette it's now a done deal the senate bill to avoid the fiscal -- passed the house my doze off -- that it happened -- and it's awaiting President -- -- this year.

Which he -- but many agree but many.

What many agree on what was missing in the negotiation was serious spending cuts because it was only fifteen billion -- here with us right now is columnist and author bestselling.

His book is a best seller after America Marc Stein is also that a CD out the -- -- getting your great singing voice in my.

In the event if we have yet fox -- rich in musical you'll -- the first just -- call ahead.

I will I well I will take that compliment I will -- pure -- Peres and -- security -- itself will be even.

So marked this is a deal that Charles Krauthammer called a route for the president does Marc Stein Cole attack.

-- item item things have because I think -- seceded narrow political times meanwhile the world wants tonight is whether America that is capable of serious course correction.

And Washington is just sense that not.

That America is going to continue living beyond its means on a scale that no other nation -- And on a scale of that is unprecedented in history I mean we just we just spending.

Over a trillion dollars a year and a -- -- doesn't have 70% of which nobody wants to lend -- so Ben Bernanke invents the money.

And we've just spent two months.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- So would it would people is thinking in saying is why did -- come to the end.

It was the brinksmanship to wasn't necessary the house could not could've gotten ahead of this by presenting a plan their version of -- plan in a way forward.

We'll hear anything except for John McCain coming forward and Lindsey Graham say look out our Defense Department will be bloody right right.

And and what -- that's really the role of the opposition I would say in this in this situation Republican body should be the party that.

Takes the long -- that doesn't but it doesn't get excited about these phony baloney bits of they'll wait Fayette my web had to go into now with the -- seen in the debt ceiling is the next example of America tied to the ground right tracks and the fiscal cliff and only -- -- -- -- are you concerned as somebody who's -- the -- about fiscal responsibilities first.

That for the first time since that house went to the Republicans they were divided -- major issue.

Yeah I think I think he had their their right to be divided because back in -- -- America voted for big government.

On net and in November what they did and five fall is the willingness to pay for it.

We have the biggest gap between.

Revenue and spending of any major nation on.

So -- got to get real about this even if you want Swedish style government -- -- way to stop taxes.

And if you -- you gotta grow up and learn to live within your means so when you when you're saying that they should be another fight do you think America's got the stomach for another fight this over the debt ceiling one -- which the president has said I refuse to half.

-- and I would bet he gets his way I would bet that in the end we'll have some.

-- yet another fake fix on the debt ceiling.

I mean it's like the fact of the matter is this cannot go on my barring.

A 188.

Million dollars and -- that we don't have the Chinese someone amend it to us the Japanese the British the saudis.

No major -- lender wants to lend us that money it Con -- so even that either people are gonna pay for this stuff.

They got to live within -- -- are you one of those who believe that if we did make some tough choices now.

The way the world looks almost by default with China struggling European.

A mess.

Nobody else -- this could be another great Europe for America actually go out if we go out real about it.

Basically everyone told the that they argument but China is ready to be the global colossus is nonsense.

It's going to be worse than that because if America goes out of the what a world superpower business which is what we basically voted to do.

-- today.

There's nobody that to take the place that's going to be a world without audits on a new world order it's -- the Chinese -- the Muslims it's not the Russians.

It's going to be a world of chaos without -- Without global trade I mean basic basic -- you spending a trillion dollars a year that you don't have all nothing.

Nobody can even point to what this money don't -- it goes to bureaucracy and food stamps and dependency it doesn't go to anything rail.

And if you keep doing that you basically signaling to the world that the American -- and right now do you feel the president understands energy to get as in nuts another tie and another agenda entirely -- I think he's got another and I think he's.

What are you -- which is.

In political this -- I disagree with Charles -- The thing to do is to get people used to the spending.

Which is about 25% of GDP if he he's gotten people used to the spending.

At some point people will have to pay for it the way the Norwegians pay for it the way the Belgians -- They will have to pay taxes that match what the government is spending and I Obama has figured out if you get him used to the spending.

Oven to three years down the line the taxes willful and his way.

The title was depressing but there is hope within that it's called after America it's a best seller because he's a deep thinker.

Marc Stein thanks much for coming in -- always a pleasure Brian all right and thanks so much for that offer on the gratuity I know and I'll I'll I'll take I have to say to Americans and I'll tape your show right is going but I knew if you really -- you chipped Julia it's because evidently the they're getting any.

-- -- him how excited.

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