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Inside the GOP's dinner with Obama

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    Sen. Pat Toomey has the inside details on the Republican's meeting with the President

  • Duration 4:57
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This transcript is automatically generated

I'm excited -- as you may know I've been pounding President Obama over his refusal to deal with the fiscal chaos it's harming the nation.

My talking points are posted on the Fox News website and thousands of -- tens of house.

Have emailed me this week expressing outrage over the situation.

Well now the president may be changing the key words may be.

Joyce watches senator Pat Toomey Pennsylvania who attended a meeting with President Obama late last night.

So to take me through this meeting who was there when did you know about it -- what happened.

Well.

I guess or a dozen not Republican senators.

-- the plans just got finalized early yesterday or regulate the day before.

We went there the president was there with his chief of staff where were you.

We were at a hotel I think it's the Jefferson Hotel right Washington.

And yeah the president was very cordial ever was cordial we had a -- pretty candid conversation now most of it was around fiscal issues and the president listened to every of one of the Republican senators made.

A several comments and the president mentally he was engaged he was and certainly it was -- and this is -- departure this -- and I really hadn't happened for a long time -- on this nothing like this that as ever happened since I've been in the senate and tonight tonight is senator with all due -- take credit for this.

Since -- you know Tuesday we have been.

Absolutely.

Pounding on him as weak as you probably know but I don't want to report on -- he bought I understand that he violated guys -- -- the U.

Well if they was -- it was AMR the taxpayer but yes surprise that this they have size of this thing I did not pick up the tab bottle admit that cool always there with the presence.

On the president's.

-- the president tennis chief of staff and there was one other.

Gentleman who is with the president but I'd I didn't know I didn't WOK.

So this is a good thing we want the press.

-- -- to be seeking consensus and hearing.

From the opposing party.

My theory this week which is obviously blown up into a huge national story is that the president's really not put forth any meaningful specific that's a -- -- Spending cuts is that your belief as well.

I think probably the best you could give the president credit for would be some proposals to curb the rate of growth of some programs but good offense has not been on -- I I I hear you acknowledge that.

And in any case they've been swamped by the new spending increases don't.

So I -- lost track now if you guys don't get it together to be twenty trillion in debt by the time the president leaves office.

And as you know all Ben Bernanke the head of the Fed is printing money and an unprecedented rate which -- all the money we already half -- -- and -- I'm seeing here.

And -- -- serious situation that needs some urgency.

But this is extremely dangerous -- totally unprecedented in American history to be running massive deficits like this.

And to have the Fed monetizing it all printing the money to pay for this this has never ended well with other countries that are tried this which is why -- never I think well.

We have to we don't have much time to get on a sustainable course has a very different court I have to tell you you're almost like a psychiatrist you're making me feel much better.

Because I put my neck on the line this week by actually yelling at Ed Allen palms and calling him a liar which -- should've done.

I should've just said he was -- Bombed because it is it is a vital issue that Americans don't seem to understand.

Or they're in denial about it what do you think it is.

About the the level of spending that's happening and why they've -- that Barack Obama's approval rating hovers around 50% 48%.

But you know and I know.

That the country's heading swore they call -- a fiscal cliff we're headed for a depression but depression if this doesn't stop.

Yeah we we absolutely have to get off the path there were on I think one of the things that happened that -- the president miscalculated over the sequester.

And thought that because he was more popular than Republicans in congress.

He'd -- get in a fight with us flame -- and he'd win and -- cave in fact it turns out most Americans get the idea that this government can trim 1%.

And it should be a piece a -- now I'm not wild about every last detail on this but we need the savings of this sequester.

I think we're actually gonna get them and down many -- I decided.

I -- -- the president's recognizing that deciding he needs a different approach I think he's recognizing the public opinion is turning against him that's what I think he's recognized.

The tide is turning against Barack Obama last -- -- And the public totally understands we need to get spending under control -- all right thanks to come -- -- we appreciate it we have a random Bill O'Reilly dot.

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