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The 'fiscal cliff' failure

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    Deal passed by House opposed by 151 Republicans

  • Duration 11:22
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Have a lot of Hannity and happy new year to each and -- -- -- -- not 2013 start off with a -- in our nation's capital as lawmakers ram through legislation.

Designed to prevent us from falling off the so called fiscal cliff.

-- unfortunately the end result means that nearly each and every American that means you will immediately see your taxes go up.

Now make no mistake America is in a very deep financial hole and this deal does nothing to solve all real problems now in a minute on the lay out the details of the plan.

But first I want to take a look at the big picture.

Now maybe the first thing to say about this deal is it illustrates perhaps as much as any deal -- a long time just how dysfunctional the federal government is something about this.

What passed last night was a terrible deal that was the result of a manufactured crisis and it did nothing to deal with the fiscal problems that we now faces a nation.

Now it's been clear for months for we faced -- the people's representatives your elected leaders put off all the key decisions until literally the last hour.

-- the result was a deal was short term it was incoherent.

It was frantically put together.

And the deal was as one media report put it the equivalent of putting a band aid on a -- won't.

And here's -- -- prop Obama his liberal allies they wanna continue to enlarge the role in the scope in the size of government.

It gives them more power gives them more control over your daily life so why does Obama want that's what is his motive he's got to know this is bad for America.

Our government has now become singular it's become cold and it has become as never before your government.

Is greedy selfish irresponsible.

And they're acting in ways that a reckless as they are now robbing from future generations.

Now let's take a look at this deal and how many Americans who will hurt because thanks to the president and congressional leaders households that make between forty and 50000 dollars.

They're -- to be hit with an average tax increase of more than 500 dollars that's this year.

That you're making between fifty and 75000.

Prepare to hand over nearly 900.

Additional dollars -- Uncle Sam.

And all of this because the payroll tax holiday was allowed to expire meaning you can see -- 2% decrease in your paycheck and that starts right now.

But without question the penalties facing high income families and America's job creators they -- even more drastic if you're an individual making more than 400000.

Or -- household that makes more than 450000.

Or -- small business you're gonna see your income tax rates rise from 35 to nearly 40%.

Now investment taxes that's gonna -- up from fifteen to 20%.

They'll also be hit with a brand new three point 8% obamacare tax.

Now to put it -- to context what kind of epic failure the so called deal really is consider this.

All told it rakes in only 620.

Billion dollars in new revenue but we'll add according to the -- Look at this.

Four trillion dollars to the national debt over the next ten years.

Now why.

Once again many of the men and women that we sent to Washington to cut spending and rein in the size of government well they have now once again kick the can down the road.

Thanks to this new deal.

The automatic spending cuts that were set to take called yesterday.

They've been delayed for a period of two months that means less than sixty days from now another huge battles gonna be waged on Capitol Hill.

About how to reduce our deficit oh and by the way are dedicated commander in chief.

Has since returned to his wonderful vacation in Hawaii.

-- once again showing us all that he simply does not have your best interest of mine.

Now it's important note this is very important not all of these lawmakers back this plan.

Some of them stood up some of them oppose the measure because that is what they were elected to do and that is balance our budget like you have to balance your household budget.

-- in the senate five Republicans voted no senator Shelby senator Marco Rubio senator Grassley senator Leahy and senator Rand Paul and in the house.

151.

GOP members -- their party's leadership and voted against what amounts to a tax hike on 77% of American households.

Now among those who voted no on the house side are my next guest you talk congressman Jason -- pets and Texas congressman -- -- gentlemen welcome back to Hannity.

They always could be reviews from our my first question congressman Ballmer does very simple how is it possible.

That we got to this point final power all the drama house -- possible.

And no spending cuts none zero CBO estimate four trillion dollar price tag.

Rounds because.

The promise that was made by minority leader John Boehner two and a half years ago that we would follow regular order if we were given the majority.

That we would not bring a bill to the floor they did not gone through committee been amended been debated.

Gone to the floor been amended been debated and then sent to the senate and then if they didn't match ours it would go to conference and we didn't do that process and as a result we got to deal.

That ended up not cutting any money we're still gonna spend over a trillion dollars and when we spend.

-- trillion dollars over what we're bringing in that's that's being lumped on for our children I got two days to see the all -- in my daughter's this year.

And I'll look in their faces and I just think.

Until we get this right.

We are failing.

The future generations this is abysmal we should be making the cuts instead of being gorging.

This generation -- money we don't have.

You know a congressman shape it's I didn't I look at this and I'm thinking to myself.

Vote for the president is really good at politics he was able to.

Really shift the narrative away from government selfishly recklessly spending too much.

And turned it into a debate on well the small amount of income and it's relatively small.

By raising tax rates and now we says he wants another bite of the apple so this doesn't stop.

The question is how -- Republicans.

Why won't Republicans just stand up.

It's look at the American people in the eye and say we're not gonna rob from your kids anymore.

Where the party of balanced budgets and fiscal responsibility that that seems.

Like a strong argument to make.

But you'll save America from bankruptcy.

You you would think it would be simple fiscal discipline limited government accountability a strong national defense.

That's what we should be fighting for and that's -- we should be standing up for.

What this president says and what he does are two different things he said he wanted to balanced approach there's nothing balanced about this he said he wanted deficit reduction it didn't reduce the deficit at all.

He said he keeps saying these things but nobody holds him accountable.

And I'm proud of my colleagues who voted no I understand why some of -- voted yes but at the end of the day we have few cut spending.

We if you spend a million dollars a day every day it would take -- 3000 years to get the one trillion.

We're spend more than ten billion dollars today we deficit we have to borrow 600 billion dollars a day just to pay for the interest on our national debt.

We can't do it you have to look shot at the first year cut number I don't want to hear about ten year projections I wanna hear about first year cut numbers that's what we should be elbit.

Out of -- but if you want to look at those numbers congressman -- -- you have -- now saying that this deal will cost 600000.

American jobs.

The CBO says four trillion price tag over a decade.

So there's no spending cuts in here.

I guess the question is over the debt ceiling will then and now have another big argument overspending whether they'll be entitlement cuts.

It seems that there's got to be a shift in strategy that we need a party that is going to stand on this platform to save America.

Do you think looked -- who -- do you think that that can happen will happen that the messaging will change.

-- -- -- -- -- -- -- -- -- I know what will happen we took a -- two years ago.

That if you will give us the majority we will get the cut at least a hundred billion in the first year and we were returned to -- Bail out pre stimulus levels which was to 2000 -- the fiscal year.

So we might that -- we ran on that we have been.

By the grace of god -- people of America we got the majority again in the house we haven't done it for the last two years but I'm hoping and praying.

That we will finally -- to be true to our war.

-- congressman -- as -- there's been a lot of rumors about perhaps tomorrow.

When they'll be -- vote for speaker is there any question in your mind as to whether or not John Boehner remains -- speaker of the house.

Now that there's no doubt in my mind early the choice is between John Boehner Nancy Pelosi so that that's an odd non starter that I mean that's that's an obvious one for -- but it would contacts seventeen votes to stop.

It and whoever becomes speaker needs a full majority so Nancy -- silliest 200.

There are 233 Republicans.

So -- seventeen of them say no then.

You keep voting until that person gets a majority you don't believe that'll happen at all.

Now look.

Our our fight is against that the Democrats I -- I want to make sure that we understand -- we stay focused on the fact.

That since since since the fiscal year started for the federal government.

We are 8300.

Billion dollars in the red since October 1.

And so I I I I realize that -- some infighting -- some.

We have got to be focused on cutting spending and cutting first year spending I was the primary sponsor cut cap and -- We gotta cut a hundred billion dollars in the first year drive spending to less than 20% of GDP and then pass a balanced budget amendment until we get a balanced budget amendment out -- shot.

I don't think that I -- It is flooded this interestingly -- congressman go -- pro Obama says look I'm I'm not done raising taxes now on after the -- polls for the rich.

So we see the direction he's fallen and it -- -- they're -- again dealing with spending.

But -- he's never done anything but spend more money.

And want to raise people's taxes and that it it and white people are gonna find out now because this -- been done there were some good things and that but.

But people are gonna find out now when their taxes go up wow I didn't know that was -- obamacare I thought it was gonna help -- there are some things that you haven't this year.

They're gonna shock people because they're gonna find out that President Obama has not been truthful in his representations.

They're gonna get hammered this year.

It's going to be -- thing I will say this though gentlemen and you two are not the problem.

But that seems to me that America.

When interest rates go up when inflation kicks in which I think is inevitable.

That it has got to be a better messaging and I think the messages simple.

Where the party that is not gonna rob from your children and I think if you hold of that message that is a winning message.

For the American people that the latest Rasmussen poll says they want to cut spending.

Be the party to cut spending and I think you'll be successful politically and it'll be good for the country.

China model I would -- holding -- body that.

Believes in the power prayer.

-- praying we have a fresh start tomorrow.

And hope and -- that's what we will have through prayer and fasting -- -- politicians to stop.

There addiction to spending money to accumulate power that that's a big that's a big -- with Louis its allies -- -- -- -- have -- we -- -- well balanced budget amendment.

All right guys we are gonna stay on the case because we will look for kids not to bankrupt there's only come back.

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