David Walker slams both parties as automatic cuts close in
Former US comptroller 'shakes' things up
- Duration 4:38
- Date Feb 20, 2013
Former US comptroller 'shakes' things up
Also in this playlist...
This transcript is automatically generated
And in Washington is truly outrageous.
Part that you really have to love your country a lot to risk embarrassing yourself a lot.
What that guy in the white -- figured it's a silly dance will get people talking about all this spending.
And if he can get a partner like former budget because Alice Rivlin to join in the same -- season the the -- -- -- -- -- -- Who worked for Alan Simpson when he was low in the stands for because -- doing some big silly.
-- wake folks up to -- something serious now are both video third stop -- weekend on the road and addresses over the top spending right now.
And we'll just go -- David Walker will happily say to that caused any.
Time David a couple of things I discovered about use.
You're comfortable in your own skin and you can't denounce.
But I will we have that in common -- -- if you -- -- boats.
But I one of the things I I like about this is you're really with a little -- humor alerting people.
Particularly young people to a problem that's right in front of -- what do you say.
Well they're gonna pay the price they're gonna bear the burden for the failure on the law and the word failure of the president the congress to reach a grand fiscal bargain.
But let's put these numbers in perspective -- The sequester -- eighty not 85 billion out of a one point three trillion dollar discretionary budget but over half the year.
It's only have half the year so it's 85 out of 650 billion.
It's -- it needs to happen if they don't reach a bigger deal.
But it's more significant on the part of the budget that's being that that's being affected than people realize.
We need to deal with the drivers demographics.
Health care cost and an outdated tax system and yet.
Congress is not a -- well.
No deal no break dot net check it out.
But you know don't let -- explain this to me it's -- of that seeing and tearing each other apart and and using these emergency worker props in the face of what are relatively small cuts in the scheme of things.
What we'd be doing if the cuts were -- should be as you say much.
When there's absolutely no question that we're going from short term crisis to short term crisis we're treating the symptoms not the disease.
The sequester is not the intelligent way to do things but in my view it should have fun.
And -- continue to happen unless and until they reach a much bigger deal.
That involves much more significant spending reductions including mandatory spending as well as -- -- -- tax reform that would generate some more revenues.
What do you think of today are some symbols of reemerged on that is senators consider basketball's.
Are coming up what what they say will be a follow up plan I don't know if it's in some balls 2.0 whatever you wanna call it.
To put sort of the title of the metal concrete specifics to what tenants should be cut what did you think of what they were proposing or teasing today.
I have great respect for Alan Simpson and Erskine Bowles but quite frankly I don't think we need to Simpson Bowles.
I think we need Obama won plan I think we need -- senate plan I think we need to hear what the American people think about particular reforms.
Rather than what two people think about particular reforms irrespective of who they are.
What should -- worry David that the more time goes -- When you when you boys reminded me to Republican -- democratic president particularly one reelected -- a brief honeymoon beard or brief -- to get anything done.
And that this president may be -- Congress by extension.
Have missed that -- opportunity.
We only have one Chief Executive Officer of the United States and that's the president.
The president has a disproportionate opportunity and obligation to lead the president did not do it in his state of the union he still has not submitted his budget.
You know he needs to bridge the gap between the Republicans which will be heavily focused on spending reductions in the Democrats which won't do enough.
With regard to social insurance reforms and probably too much on taxes.
He needs to bridge the gap he needs to lead.
All right real quick where does that ever -- -- real quickly.
I could see you would bring to this because he'll do anything for good national caused.
Did you have to percent swayed Alice Rivlin the woman Karen the or having a brawl -- the former budget directors.
Together to participate just.
That's when she heard that we were both going to be doing it she enthusiastically.
And neither of you were drinking.
No absolutely not no he had nothing other than water good and not a question why not rush and why are we don't want it to.
David Walker thank you very very much.
-- -- --