CBO report list ways for government to save now
What's standing in the way of changes?
- Duration 7:36
- Date Jan 9, 2013
What's standing in the way of changes?
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As if I don't have enough to do you have fresh from the cliff and now -- super hero is back to save America.
From yet another money mess -- because while watching that says we are tapped out.
No -- all to say don't buy and my friends because your friendly neighborhood superhero is on it and today today about the welcome everyone glad to have you on Neil Cavuto and there is no -- when it comes to number -- Democrats and Republicans often point to the numbers put out but he's -- It's.
About 24 hours after I spoke revenue rational budget office released a report according to the Congressional Budget Office think the people at the Congressional Budget Office who works so hard and take it from me that's with the Congressional Budget Office told us.
Art so let that be the case why are members of congress say ignore it.
These numbers in the Congressional Budget Office there right out there put out by the CBO for anyone and everyone to read a what -- they -- like.
Obviously reduce funding -- dot defense agency I just want but yeah.
And you say nearly a 132 billion -- over ten years it really doesn't end there.
It's less the growth in funding for the department and -- a fastest one present.
And you say it another 862.
Billion dollars 1% don't know about it -- I think we're -- and -- curbing the growth by 1%.
And how about this sacred -- raise the earliest eligibility age for Social Security would -- ten years.
And you could be looking at another 104 and 44 billion in savings.
Nearly two really in savings from just those three examples I gave.
There are dozens more.
A total point six trillion dollars -- -- -- savings if Watson would simply get on the stick and start cutting not hacking cutting the growth.
Not reducing the -- just slowing the growth.
Is it any wonder and this is official cockroaches have -- higher approval rating than members of congress cockroaches.
It is really bugging market watcher Greg Smith you know when you look at this pregnant and these are all ideas.
Put out by the Congressional Budget Office.
Beat the titles he runs a few pages the actual.
Ideas -- that the the budget statement runs more like to traditional thousand pages but my point and it is.
That with very little -- and very little blood sweat and tears.
You say trillions -- -- we do that.
Paul O'Neill we we can do that and look your your crack -- -- production team that Fox News they are the best in the industry no doubt they sent me.
The CBO's report and I just spent four hours going through it -- Here's the report right here.
Barack Obama and mrs.
Pelosi and mr.
Boehner truly want to cut spending and they don't want to use and acts they want to use a scalpel.
They want to have compromised state.
They wanna have bipartisanship.
This CBO has laid it out for them -- line by line you just cited some of the instances.
I came up with another 96 billion dollars.
Just doing very -- simple little things you know it would be like you saying to me -- I spent a hundred dollars a week -- gasoline in my budget is out of balance.
-- -- Next week you're only allowed to spend nine.
But you watch this thing get demagogue to death.
Just like you said that so that secret -- security you're gonna raise the retirees you're gonna do it on the backs of the poor in the old people.
-- of the budget plan is right here why -- And years after -- tomorrow youngest -- it's no -- would be anywhere close to leader.
Retirement age now.
-- it's what do you is that we're talking when he -- out.
Leaving aside that I mean these are incremental efforts to save a lot of money and I think a lot of people.
When they hear the taxing demagogue and -- the of the spending mean -- they tend to think that when you look when you try to slow the growth of entitlements.
You're throwing granny off the -- for your feeding your problem.
The fact of the matter is if we don't slow the growth in and in this stuff and that's put on about 1% I mean 1%.
We won't have those entitlements and at and let you know grand he's gonna get burned and and and -- children and grandchildren gonna get -- But this is so resolutely and the CBO has -- the bad I mean we talk about a debt commission report that collects dust why is this neglecting them.
Because this is goal.
And it's produced by the gold standard in the industry 1974.
Congress Pasternak 1975.
The CBO and and -- February.
It was headed up by none other than Alice Rivlin who's been very vocal about this.
She would look at -- -- report and say.
This is what we should do.
Let's get on track with this and you're right this is probably why congress is so.
Would you say less popular than a cockroach.
Because if it's simple to do -- we just need some leadership to say OK the time has come and you and I've talked about this before Neil.
We can either do it now while it's voluntary.
Or we can do when it's mandatory.
And forced austerity.
Is miserable compete.
Or you know and then -- are ready you know I've gotten us in the before I don't want this has seen and I've made a lot of folks say well you gotta consider revenues and all this.
You'll raise revenues doing this -- Ed and you think what -- by restricting the growth of programs that are running away.
Not a single.
Program in the I want to stress is -- folks at home.
Not being is being removed in this -- Congressional Budget Office the Bible what do -- like -- on the left to right -- know it's convenient.
Given the political climate.
We the Republicans ambassador Democrats but if you accept this is the gospel I think we go back and to work on whether it's -- Nothing is removed under this plan that's right nothing is is is -- to -- -- smoking such -- friends here.
That over the course of ten years you what effectively.
Shrink the size of government.
Without killing government so you don't want government you still got it is a little leaner and -- is not growing as fast getting -- -- It's still getting bigger just not as big as it would have been.
This is not the end of the world I suspect you when your friends on Wall Street and a sense this is ignored much longer.
You're gonna haven't answered and disk.
-- You you're right -- and let me tell you.
The -- the fine people over Fox Business I'd love to get their opinion on if they heard tomorrow an announcement.
That congress came together they adopted all this.
They're going to implement 2.4.
Trillion dollars worth of cuts they're not gonna remove any programs in the process -- just get thousands and once we got a thousand points.
At least a thousand points we've seen my -- is a great -- country's ever seen -- -- I don't know.
I think it's so easy -- so he's.
It really is but that's why congress can't do -- they can mess up a one piece puzzle -- -- I mean anything you want done wrong send it to congress.
It is amazing.
It's great always a pleasure thank you my friend I don't -- he's bringing this to bring this to your attention just to say.
I notice it was impossible it's really impossible very tough it's hard it's hard candidate.
It's not okay it's not it's money coming in money going out a lot more money going up and coming in we want to slow the money going out.
We already have a little bit more money coming in -- tax hikes -- C get the best of both worlds it's your.
Inclined to like -- --