President spinning a 'lurid fairytale' over sequestration?
Insight in to panic over budget cuts
- Duration 3:35
- Date Feb 22, 2013
Insight in to panic over budget cuts
Also in this playlist...
This transcript is automatically generated
Go down is -- in Washington as the clock ticks on the massive spending cuts that will kick in in a week if lawmakers can't come to an agreement soon one point two trillion dollars in broad cuts begin on March 1.
Now exactly four months ago today President Obama said during the third presidential debate he did not think those deep budget cuts would ever take place listen.
-- -- -- -- to comment on this first of all this westerners.
Not something that I propose something the congress has proposed it will not happen.
All right let's talk about a with a Rich Lowry the editor of the national review and a Fox News contributor you know I called a massive cuts in it it in some ways they might be viewed that way but in some ways maybe not.
Yes you look at Jonathan the budget globally.
These cuts -- drop in the bucket over ten years they'd be about 3%.
We're talking in theory that 85 billion dollars a year and a 3.5 trillion dollar budget.
Quite the Congressional Budget Office this year the government because it takes time for the government do everything only cut about.
I'm 42 billion this year says about one point 5%.
Of the budget said that this should be doable in -- rational way.
The -- itself was designed to be as irrational and painful all sides.
You say that it's something of a lurid fairy tale that the president is -- what do you mean by that well we see this every time any government agency has to cut its budget is threatened with any sort of budget cut.
It puts out the story.
That is most likely to create the greatest announced -- fear.
I'm in the public so you have -- every government -- is seen doing this from.
The TSA to the Pentagon and how the White House I believe egging them on -- in the White House interest to create the most alert possible story about what these cuts would mean.
Because they want to either and put them off or substitute tax increases for them.
We just heard friends is the Ray -- talking about.
Airport control towers that are going to be unmanned from midnight on well.
Frankly there are a lot of airport control tower is that are -- man from midnight on and pilots land anyway -- -- -- outlook.
Again the way things are designed to they're designed to be stupid and designed to to make it painful for both sides -- they do something else to reduce that the deficit and -- That's not gonna happen.
This -- is gonna happen march 1 I think after that at some point.
Hopefully both -- sit down to figure out a more rational way to allocate these cuts.
But these cuts should happen if we can't cut 3% -- budget over ten years -- declare national bankruptcy right now.
But interest saying that it's discretionary funding discretionary programs that are getting cut no cuts from mandatory -- yet again if you're doing this in a rational way.
That's not the way he would do it especially considering that the mandatory spending the entitlement spending.
Is it bigger part of the budget that ran -- -- and creates more of the debt problem down the line it's stupid to disproportionately target.
The Pentagon was particularly targeted and stupid to -- port disproportionately target -- discretionary spending but again this was designed.
To be stupid in my mind we have now let's -- the debate going.
On over -- -- Steve -- and stupidly designed spending cut and despite.
This you know this fuss over these cuts isn't the federal government going to spend more money.
This year anyway they'll spend slightly more.
Money this year than it did last year and again John it's a classic Washington definition of a cut if you reduce -- the level of growth this of spending.
That's a -- story that's a painful cut.
When actually you're spending more needed the year but children are gonna be uneducated and our food supply is going to poison -- -- that's what we're told aren't.
Rich Lowry and uplifting -- that left half a traffic and things yeah.