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Is Obama addicted to raising your taxes?

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    President's former economic adviser Austan Goolsbee responds

  • Duration 10:48
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And this is -- -- alert despite dire warnings from president panic I am happy to report that this very hour there are no major delays at airports all across the United States.

Nor is a pandemic gripping the countryside and day cares believe it -- not from coast to coast they are still operational at this hour.

-- miraculously all that remains true despite the fact that we have arrived at the day when the Obama sequester starts to kick -- -- tonight we'll have complete coverage of this developing story with former Obama economic advisor Austan Goolsbee.

Charles Krauthammer will join us and also the raging cajun James Carville.

Plus the man who had the courage to speak truth to power and that of course being doctor Benjamin Carson -- he is here lied to give us his take.

On the sequester the automatic budget cuts beginning to take place in Washington.

But first earlier today to no one's surprise an eleventh hour meeting inside -- the Oval Office between the president and congressional leaders.

Failed to result in any progress why.

Well we do have a stubborn commander in chief who was incapable of conquering his obsession is addiction raising your taxes and spending your hard earned money.

House speaker John Boehner address that issue moments after meeting with the president here's what he said.

But let's make it clear that the -- -- -- taxation on January 1.

Discussion about read a little in my view gives hope.

It's about just taking enormous spending from -- abortion.

Not to be upstaged the anointed one soon after fled to the safe haven that is a press briefing room in order to field some real hardball questions from his friends in the mainstream media and other words the state run lap dog media take a look.

To your question what did you do results couldn't you just happened down there and refused to let -- keep the revolution makes.

Yeah he would you know be.

I mean just -- I.

I am not.

-- dictator I'm the president so ultimately if Mitch McConnell or John -- say.

We need to go to catch a plane.

I can have Secret Service blocked the doorway.

Ellis the president you're not quite a dictator but he is certainly not a leader either because while you want to blame this entire -- some Republicans.

The fact of the matter is the sequestered that was your idea and it was put back in place way back in 2011.

Which leads me to my next question what we've been doing for the past two years.

-- we've heard all here apocalyptic prophecies about what will happen because of these budget cuts which by the way are not really cuts so why did you do anything to stop them.

-- we here at Hannity we actually think we have found the answer to this mystery.

It's because our celebrity president has been busy well very busy with well important other things.

Watch.

Congress allows this meat cleaver approach to take place.

-- jeopardize our military readiness.

We'll -- a great job creating investments in education now is not.

-- more expensive Ferrari on the car.

Early education like head start.

An early start would be eliminated for nearly a thousand children.

Border Patrol agents Woolsey -- hours.

-- BI agents will be -- And I.

Federal prosecutors will have to close cases -- what what what -- I don't know.

Good traffic controllers and airport security doesn't cut back.

I.

-- -- middle class families will have their lives disrupted very significant ways this all dates back to what we're growing up together in Kenya.

All of this will cause a ripple effect.

Throughout our problem and look sharp -- you see me naked.

The longer these cuts remain in place the greater the damage war coming.

Congress might.

Oh wow yeah a series of immediately came home and arbitrary budget cuts to take place.

Myself -- Known in Washington has -- -- And I just a few moments ago President Obama signed an order to begin this sequester cuts joining me now to react to his old -- -- -- ability to avoid this mess his decision.

Is the former chairman of the council of economic advisors he's currently professor at the university Chicago.

Booth school of business Austan Goolsbee Sarah's back -- -- President panic doom gloom apocalyptic.

-- Fix this mess situation we can't.

Cut -- forty for a million dollars and a three point six or seven trillion.

Help me out -- -- got a I never did -- over the jealous type Xian.

Have.

-- myself Michelle at the Oscars -- one -- best editing and best acting -- about it.

That's what this is about -- every other president since then got a good drop but they go and I'll give you -- prize.

I'll send your prize and one -- item that we got.

He -- what any of the cut -- -- or disabled kids that's what he said this week.

Let's see our military -- education energy medical early education border patrolling every area.

Guys criminals and prevent.

Airport I curable doom and Cologne and a -- closure soon wedeman here's a question.

Serious question hey did you get injured due nominee John series remember a -- disappeared three years ago this summer of recovery would you -- the -- You were willing to blame every traffic jam and America pick on the revamping of roads from the stimulus.

And now when we're actually gonna cut a bunch of programs that are gonna hide than the lie that you -- -- non military readiness.

And now you know audible everywhere that you know I had had a right to believe how much was our budget and how much money did this this -- -- in the years 2008.

You know the answer to that how much he spent.

We welcome the president I'm sorry to them and it -- to have a excuse me and I think our 2009.

How much that he spent OK it.

He spent only a small amount more than was projected -- get out of my -- back to the downturn how much.

Give -- a dollar figure barely more than what was -- how much.

Barely more than 100.

Here's the think spending is gone up.

20%.

Almost across the border under Obama and for years we have six trillion in new Obama debt twenty million more Americans on food stamps one and six in poverty -- here's the problem.

Awareness -- you -- -- -- -- this year this year as it we are gonna spend.

About the same probably more than we spent last year explain to America she explained what America how that's a got.

Now wait a second.

You are aware are you not that the Congressional Budget Office which is nonpartisan.

You had said that over the last eighteen months the deficit.

Has shrunk faster than any time in the history of the united -- they never had been spending we've -- Chad being faster he gave us sick don't.

Shaped -- a New Year's Emmy and just if we're lucky just under a trillion if you're lucky.

No president has come that close but what he's given a six trillion in -- when you -- answer my question is important.

Are we gonna spend more and you went and I'm glad we got to spend more money this year than last year or about the same is that where is that the average amount and suggested the economy significantly less as a share of the economy especially -- -- because we're gonna -- about the same good -- it is impossible.

-- conflict -- -- -- over the 44 million dollars of a three point seven trillion dollar budget it's impossible it's about.

The Congressional Budget Office says that it will cut the growth rate of the US by about six tenths of a percent.

Which you can say it's smaller big but most analysts think that will lead the unemployment rate to start rising again I would rather than also the first four years of a bad economy who's Bush's fault the next four years ago either -- as well.

And that national Republicans question.

And it did you remember that -- -- what were Kevin that Brad right now I got another question Korea is it in -- isn't immoral.

I think it's immoral.

I'll ask you -- you think it's immoral to.

To borrow six trillion dollars and four years -- -- he accused bush of B and unpatriotic and irresponsible for four trillion in debt over eight years is it is in -- -- tomorrow.

From our children -- -- -- open that.

That it was unpatriotic.

Too when you're in a boom to run a deficit.

If you're in an emergency stay downturn other members of the times here and he got what he says he did that was going tonight.

Not only you know -- campaign and not -- remembered -- I played it for -- -- Five but here's the question you yeah.

I don't totally -- once their word boycott when -- -- but wait yeah.

He's in his first term we cut the deficit in half from now.

From what he inherited yes did he do that.

He's about to in the fifth and a few -- -- -- -- all are often didn't.

Yeah that's what the market.

It was projected to be one point three trillion when he came you know.

It's going to be cut just and half that's what the CBO just -- all right -- -- case.

He's -- easier cut isn't as Republicans were willing qualities -- -- grand -- equipment at this point I -- I -- -- -- president of choice of making the cuts himself didn't you offer him that authority this week and he rejected it.

Well no not exactly that was only on the -- -- and a hard look if they want to cut social security and Medicare.

They should propose it.

The president saying you have to market its if you raise some where's the president's budget we haven't seen a democratic senate budget either for -- because -- budget they apparently did unanimous where it is -- Republican -- -- I'm we're kind alcoholic and I read it.

Yes yes you can it's on the Office of Management and Budget web site or president's budget.

All right I'm just check and maybe they'll -- -- pass from the -- Austin I'm happy to report as a Fox News alert Charles Manson is still in jail.

Okay as of this hour we're gonna watch it closely throughout the evening.

I -- my daughter had a bloodied now that assembly instill that day and I'm blaming the Republicans if I had a that you could not up -- a think probably it's probably my fault it was probably my kid to go ahead blame -- -- -- yeah unethical whether.

All right Austan Goolsbee and coming up next -- --

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