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'Fiscal cliff' deal filled with wasteful government spending

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    Hundreds of millions in handouts exposed

  • Duration 12:01
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Meanwhile Democrats got their Christmas wish they passed the fiscal clip bill and are raising taxes.

And taken more money right out of your wallet but I think it'd be very surprised to learn who's getting some of that -- and money.

And thanks -- -- -- lawmakers in this -- deal over the next ten years get this rum producers in Puerto Rico and the Virgin Islands -- gonna get a tax break amounting to 222.

Million dollars.

Al.

59 million dollars and a tax credit to try and to find ways to produce biofuel.

From the substance.

Holly what yet they have another reason -- love all these liberal lawmakers they have a quote special expensing rule.

-- that's gonna cost you a hefty 248.

Million bucks and by the way NASCAR failure big time that is building a racetrack means that they getting a tax break.

And that totals 78 million dollars by the -- seven million has been allocated for electric motorcycle makers by expanding the green energy tax.

Analyst goes on and on his -- -- part.

House Republicans delayed a vote last night on a super storm sandy relief bill because -- contain too much pork.

Never astronomy now with reaction former Clinton special counsel Lanny Davis the author of the great destroyer David Limbaugh is with us.

You know David it's never seen.

I've never seen that this dysfunctional.

Four trillion.

In new -- according to CBO this bill gives us.

You have pork they stake in it literally a 154 page bill and the senate has three minutes to read it before they have to vote on its.

Is something wrong.

And broken.

That is beyond my imagination.

-- get your action -- That's Sean and hello landing where where in a world union or keep Sean.

Hey we're in a world view war with people who don't believe in America's founding principals who don't believe in the constitution as written.

Who don't believe in a row last freedom tradition but do believe.

That man is respectable that all of our problems can be solved through the agency of government that we can eventually achieve some kind of utopia.

Through a socialistic government.

And we have a president who is steadfastly.

Addicted to spending he wants to complete.

His fundamental transformation of America and therefore has no intention of cutting spending.

In this deal was never about cutting spending and that's why I object to it that's why I am proud of certain GOP congressmen and senators who opposed it.

But we have a a situation now where the entire nation the people who produced the people who care of the people that still love America.

And its founding principles are horrified.

They're horrified I talked to people every day I literally do and they -- there at there wits sands are we going to be able to provide our kids the kind of prosperity.

Are we -- -- be able to provide them the kind of freedom tradition that we were bequeathed by our parents and I don't think so unless we reverse this.

This is such a cynical mess when you consider the fact.

That we have.

Sixteen point four trillion dollars in debt.

A hundred trillion in unfunded liabilities and Barack Obama controlled this narrative to make it look like.

The rich weren't paying their fair share was all about taxes so it's gonna raise taxes on -- -- and do nothing -- standing right.

And let me follow up and let -- -- that it any.

It didn't cut -- -- -- setting four trillion dollars that we're gonna rob from our kids from good to pay for this and the question is.

If they -- all those -- to it what ever happened to your friend Bill Clinton the Arab big government is over the end of welfare as we know.

We worry you as a liberal Democrat Obama supporter.

For him to showed no desire to stop this reckless spending and borrowing where you -- well.

-- -- very upset by the deal I have a fourteen year old son Josh watching tonight.

And I'm using and you're using our generation is using collectively credit cards we're handing our kids and probably our Grace Kelly -- let's -- -- all of the EC to those credit cards that's immoral.

And so both parties -- a moral issue here to hit our children our debt so we're -- that -- -- then I completely agree.

-- -- -- -- President Obama gave speaker Boehner a deal last summer -- that you could have said yes to that would have been the beginning of reducing the debt he said no.

Then he would even.

Didn't like maybe that had.

No I blame both parties and this -- that you just mentioned is disgusting I'd like to see the names of the congressman responsible for that port.

Published their names and embarrass them but we should be ashamed of what's been going on with this national debt that our children are going to have to papal.

Bob Woodward said in his book the price of power.

The it is very clear.

This is not gonna win that looked through the prism of history and say the John Boehner error when I say this is the Obama error.

The president's supposed to leave the president and his narrative was singularly focused Lanny and that was more taxing the rich taxing the rich he got it.

And then it comes back -- well -- says we're gonna come back for more.

Making it look gun I I I gave Barack Obama a lot of credit for trying to strike a grand bargain with Boehner and Boehner just said no.

Now it's up to Barack Obama -- -- I agree that in his words said that that Obama at the last minute.

Raised the amount of money in taxes and that more revenues to walk away.

And instead of walking away he could -- bargain -- Woodward agrees with that is well.

But look -- it -- -- State of the Union Address is where I want him to endorse Simpson balls and really take the lead on reducing this great moral issue of our time the national debt we're gonna take a break we've got to save America will come back we're gonna give David -- another opportunity.

On the back Hannity we get that he would Lanny Davis and David Limbaugh David Lamotte.

This is not this is really the beginning so now we have this that ceiling and we're gonna have another -- quote crisis.

And I guess we'll wait to the final minutes final hours but this seems to me the debate now shifts Obama got -- tax rate increases.

Shouldn't this entire debate now be would be about reducing.

Spending the intoxicating.

Spending a Washington.

Can Republicans.

Well that's what the sanguine that conservative punditry as saying.

But what the White House memos are saying is that we've only begun to fight on revenue increases.

They are going to go after the elimination of deductions the phase out further deductions they've already done some phase out.

And -- Obama is cocky he's the most -- gracious person I've ever seen he's already upgrading Republicans after immediately after this deal was done he -- -- the debt ceiling is not negotiable he will not allow that to happen again.

So he has he is going after more taxes.

And if Lanny wants to talk about this being had a moral issue then -- can't possibly support President Obama anymore.

And have any intellectual credibility with all due respect and they claim he's a great guy.

But what I'm saying Lanny -- -- Obama clearly wants to exact a grudge against America he has no intention.

Of it's -- solving this debt crisis because you can't do with revenues he wants to even the score against the presumed wealthier the so called wealthy you can't raise enough taxes -- to put a dinner and this debt.

He refuses to reform entitlements I am so incredulous that 90% of America even the people on the dole.

Going to be reversible if we don't stop this and I can't believe you're not he's not for Simpson balls he's not anything to do it got -- -- -- Mattingly is -- now I think women are.

Are you as a liberal Democrat that say you're disappointed and this is a moral issue.

Are you gonna demand that this president now that he got his rating increase and he now must deal with spending in his record deficits.

Are you going to call on him and demand.

That he gets serious about.

Yes but he's already done that I told you last summer he did propose that I don't want bargain last -- I'm gonna -- He's given a six trillion and then get let's deal with that let me answer -- and David.

Last summer he puts -- -- security.

On the table Bush's foreign and and no Boehner walked away from the grand bargain where -- Bob -- walked away early and brands already agreed to you're -- three times.

Hate to -- if you interrupt needed in Iraq right or fair enough mr.

Obama let me just remind both -- -- that the Simpson Bowles approach.

Does cut corporate taxes but raises revenues by closing tax loopholes.

Which entitlement reforms social security and that I hear them on the table and I am in support of Simpson Bowles.

And I think that President Obama came very close last summer.

To making this same proposal.

To Boehner who said no so I give Obama credit actually Boehner supports eyeballs more than the president did the president is once they have we -- -- we don't want any agreed to.

And then push Boehner away is a more accurate assessment David look.

Why are we talking about last summer we why don't we talk about last night Obama will not agree to cut entitlements period.

He only -- to tax the wealthy and destroy the wealthy that's already.

No you know should you eight -- 88 changed CPI on Social Security which would have cut Social Security benefits.

A lot of Liberal Democrats denounced him and what are the Republicans do.

They started to denounce him protecting Social Security of the hypocrisy.

Not Barack -- is the Republican leadership.

Of the house which is going to be defeated in the next election because of that.

Hypocrisy Obama has put entitlements on the table David and he has supported substantial spending cut.

He doesn't even -- Obama doesn't it yes.

Help -- Obama doesn't even know within six trillion dollars what the national debt he has when David Letterman asked him if that was Timmy he -- novelist and trainer sixteen point two trillion.

The -- his cynical all he wants to do is spend money that we don't have so this idea that conservative pundits have that now we've got these tax rates.

Permanently in place now Obama will have to realize we can't raise enough revenue is through the tax code you'll have to reform at times.

That assumes Obama cares about the debt that -- -- -- he ever basis is standing on of the amount of revenues that are credit.

Do -- love -- because he does this -- He's got a close -- -- -- -- it'll raise more revenues we're never gonna pay this debt down without raising revenues that I'm in favor of -- just ran out of my hands.

I am perfectly happy to pay higher taxes because everyone you guys are up we will ask some of -- truly yours.

We went through two wars using credit cards meant to the last every wee -- -- -- a -- Obama you're talking.

We all share this blame and we all -- -- later the pain of doing anything about this that Democrats could have quit talking about revenues because they don't make it did and it anybody I know it's an individual cuts as well I agree it's got to be both an entitlement reform you're -- guys aren't doing it.

We don't they have always I don't ask you about American visitors authority you just got your revenue increase now when you really didn't it you just -- -- not act.

Just let those tax loop -- we only did not and what I thought should -- dollars and about.

There are plenty I got a Little Falls under never exist Bowles and Simpson whole financial fixes a that's a dollar to look at -- this afternoon apparently got a hearing going Dario.

It in you know like David it's a drug to the liberals -- a drug it's like crack and heroin they cannot control themselves they get their power -- Taxing and spending and rising and spend it.

When he's -- great guy he's got to come to our side here come on Lanny we've been hurting and it is saying nice things about me but that's exactly.

Thank you all right guys.

I think we just solve the problem.

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