Also in this playlist...
This transcript is automatically generated
-- meant tonight the president and the Democrats weigh in on the budget chaos that is a subject of this evening's talking points memo floor.
The first time in four years the senate has put forth a budget -- pulls.
It's impossible to explain so I would even try but I can give you some specific data from it.
The first thing is President Obama and the Democratic Party claim they're cutting almost three trillion dollars out of the deficit.
Boy they don't tell you is.
That is over a ten year period.
I think what's important to recognize is that.
We -- to cut.
Two point seven trillion dollars out of the deficit if the sequester stays -- and you've got over three and a half trillion dollars deficit reduction already.
And so we don't have an immediate crisis in terms of debt -- -- for the next ten years it's going to be in a sustainable place.
With all due respect few economists agree with the present the dead heading toward twenty trillion dollars is quote sustainable.
And in fact there have been no real cuts Democrats it -- slowing down the rate of spending.
Not eliminating a reforming wasteful programs.
But the -- tactics that Barack Obama is not gonna change his opinion no matter how much data is present it.
He believes a massive federal debt will not harm the country period.
And so he operates under that assumption and says there.
And if we do that we're going to be bringing in more revenue.
If we've controlled spending and we've got a Smart entitlement package -- potentially what you have -- balance.
The president thinks he can get the federal budget under control.
The -- -- the democratic budget calls for one trillion dollars in tax increases.
Over the next ten years had a integral economy with that.
And every working Americans can pay some of those taxes let me ask you let me ask you this.
Are you not already paying taxes through the roof.
Property tax sales tax.
Gas tax state tax city of New York tax federal income tax and almost everything I do in my leisure time.
Rental cost hotels plains.
All taxes will.
And the Democrats want to add another trillion dollars in taxes.
So -- quickly becoming Sweden.
Which has the highest tax rate in Europe.
US corporate taxes already the highest in the world already.
And there's no doubt pres Obama wants to raise them even further.
So again is this a sound economic policies -- going to grow.
The economy in the USA is it.
Finally the president Democratic Party failed to tell the American people exactly what programs are cut the future -- -- -- Once again there's no specific entitlement reform put forth by the president.
This is really responsible.
Use of -- That's --
Filter by section