Democrats' first budget in 4 years increases spending, taxes
Former White House economic adviser Austan Goolsbee defends Senate plan
- Duration 10:29
- Date Mar 14, 2013
Former White House economic adviser Austan Goolsbee defends Senate plan
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It appears he senate Democrats are taking a page had a president -- Obama's playbook.
And a proven yet again they have no intention of taking -- action to bring down our debt or balance our budget.
-- just a moment Austan Goolsbee will join me and try and defend his party but first here's the background let's remember that the president said this earlier this week.
Paul Ryan and today before his budget got -- says he's challenging you to come for the budget that also reaches balance are you gonna do that now.
We're not -- balance the budget in ten years because if you look at what Paul Ryan does to balance the budget.
It means that you have to do about tries Medicare and you have to slash.
Into programs like Medicaid my goal is not to chase.
-- balanced budget just for the sake of balance.
Now let's not do that our commander in -- obviously doesn't think we need a balanced budget.
And as democratic cohorts in the senate appear agree with -- night yesterday senator Patty Murray the democratic chair of the Senate Budget Committee.
Finally released their liberal budget plan and over the next ten years under their budget.
Government spending would increase by over two trillion dollars -- let's put that in perspective that is 858%.
But that's not all the Republicans on the Senate Budget Committee also crunch the numbers.
And under the democrats' plan over the next ten years they would raise taxes by a very alarming one point five trillion dollars.
But does raise taxes on -- I don't understand why would anyone think this budget is a good idea or maybe somebody who does.
Is the former chair of the president's council of economic advisors professor.
At the university of Chicago -- school of business.
Apparently uses one of those Washington calculators Austan Goolsbee -- -- That is great to see again John I thought you -- gonna.
Describe the thing you know that you were about to write to the president.
For cutting government spend kind of government -- -- -- -- anytime since the -- mobilize that I -- were alarmed amazing may you know the six trillion and dad I art and tonight I got I've got to.
You -- used to giving his students quizzes.
And tests right.
-- here we go I don't know this.
That isn't it can be -- intellectual honesty test.
And we've got to see how good of a political spin artist you aren't religious -- -- says his son close as we get back on -- -- -- -- -- Leonardo -- first that I'm -- he wasn't elected -- yesterday all right here's.
Here's point number one.
Hi this week will play it the president talking about balanced budgets.
And the -- with George Stephanopoulos and apply a candidate Obama and 2008.
And you tell me why things sounds so I -- differences go wants us.
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 in deficit reduction already.
And so we don't have an immediate crisis in terms of that contract for the next ten years it's going to be in a sustainable place.
The problem is is that the way bush has done it over the last eight years.
Is to take out of credit card from the bank of China in the name of our children.
Driving up our national debt.
From five trillion dollars for the first 42 presidents number 43 added four trillion dollars by his lonesome.
So that we now have over nine trillion dollars of debt.
There that we are gonna have to pay back.
30000 dollars for every man woman and child.
So this -- is not out of bounds the budget we're I'm of that crisis we're headed to seventeen trillion dollars in debt under his watch.
What happened and it's it's it's irresponsible and I'm patriotic hold on I don't know what -- Happen I wanna get your best and gulp I'll -- there's no spin we have a disagreement about that speech from the campaign which was.
-- that is why it's unpatriotic.
To blow your emergency again from what I guess not by the credit card to the bank of China and they -- our kids -- irresponsible right.
-- that we had gone through the two thousands with relative prosperity.
That's not that kind of blow your reserve fund its -- -- maybe I'd forgotten 9/11 -- building in the -- -- -- -- currency wars lot unique.
-- the emergency of the biggest downturn -- -- -- -- the deficit all right so we had a huge -- at nine trillion dollars and that is bad seventeen trillion dollars we come up with every excuse we can't -- the -- -- I got -- -- session is bad all right now -- Now Bob you know he's he's making a point about the issue -- haven't closed down the White House for school children can go and even though we're spending more money this year than last year he's saying -- Close it down I think he's trying to inflict as much pain as possible to make a political point.
But what do you -- tell the truth here -- -- -- or Jay Carney but does that contradicting themselves watch.
You know I have to say this was not -- A decision Byrd one up to the White House but what the Secret Service explained to us was.
That they're gonna have to furlough some folks he had to cancel the chores.
It's our job to cancel the tour is they cannot cancel.
So because we -- they don't this is not a toward the Secret Service billing as a tour of the White House in the grounds and we.
We we run the tour is in the invitations and and and that process.
The White House as we've said cancel the tour is.
-- -- in my opinion.
The guy that blames the bush to tsunami earthquakes the -- the blames kiosks ATM machines Fox News Sean Hannity Karl Rove Ed Gillespie and talk radio.
And now blames the Secret Service I'm going Jay Carney told the truth here -- contradict each -- what.
What about that dose of director I don't know anything about that I know it was right when he was blaming Sean -- but that was a while ago that he did that.
Look at that did the thing is here -- on.
If you like Paul Ryan's budget then you should be.
Honest about it and get up and say.
To keep taxes at the lower share of income that they've been in fifty years which is what they've been over the last two to three years.
I'm willing to squeezing crush Medicaid and Medicare to keep the taxes out well that -- find out the honest here it is guy.
Medicare except try to -- -- all I know I'm not gonna cut government spending.
In order to keep -- taxes low because.
There -- I think that all right imbalances -- -- -- about how Paul Ryan increases spending every year for ten years 3.4 percent.
Balanced budget -- -- Democrats they give us trillions in debt.
Wherever six trillion and Obama population is aging John that's why I was about maybe -- feels -- -- -- and all it's not Bush's ball to kill people forget old.
It's about it -- aging of the population is not a secret the baby boom has been noted last question 1946.
Part three of.
The exam you got an -- fund and on part one into the right.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- They go to Martha's Martha's Vineyard and they take separate planes that come home separately that a lot to why.
Acosta has a lot of beyoncé a dollar lawn of the White House all right.
So Jonathan Karl saying well a lot of -- would you know what if we may be cut back on some of them extravagance.
So that the little children.
Who the president claims to care about so much and shared sacrifice -- they can go back to the White House let's watch Cisco that would Jonathan Karl.
The Secret Service told us -- the tour cost 74000.
Dollars in -- how much is it going to cost present trial this week.
The president's passing -- states.
And he's elected to represent all the people and he travels around the country appropriately I don't have a figure on the cost of presidential travel is.
Obviously something has every president deals with because of security -- -- A significant undertaking but.
-- the president has to travel around the country travel around the world that is part of his job.
-- -- costs for him to go play golf John again.
-- you you're trivializing and impact here people will lose their -- three quarters of a million people will lose their jobs.
-- president -- likes to lecture about shared sacrifice.
Which skin in the game.
Maybe not playing -- playing golf what tiger 341 people wouldn't have been for -- -- widening give it up.
A -- I don't know I agree with you everybody should share the sacrifices they should evaluate -- You know what whatever the presidential.
Prerogatives trips -- -- are.
I think this event in Illinois.
An energy policy that's actual policy event that strikes me it's not totally different but we'll look -- it.
That's a fair point probably when the president at a resident -- go to my peace gotomeeting.com.
Account with -- -- faces -- you can do it.
And appropriate they're allowed this indoors.
You know what one company I -- -- -- you probably saw Donald Trump announced.
That he's willing to pay for the White House -- I think they realize they are probably my best friend he offered a week and I offered to -- Donald Trump's offer.
That brought -- by John and it.
Yeah -- we'll give you a tour I can remember that stuff and I'll point out.
Did the the -- it was that Nancy Reagan used to love I'll show you that the open shot.
-- I think if I could not hear back in the days -- prospering.
I've tried in the days it did or where they are on your door and all of why why -- -- talk to visit you also.
I know one way to get under the Obama White House if you donate 500 grand you get quarterly meetings.
And that is bad that is that is not accurate.
That is true but hey that's what they advertise.
All right I'm gonna give me a not the path figure he'd.
Volatile items that your front and got us behind my friends are going to be mad -- -- -- job with us.
John Kennedy gave you a passing grade.
I'm being charitable ICM I don't happens sort of at what ball from in my house in which you decided that you said I have a great American I'd -- to bring -- the -- -- -- -- great America -- -- wrong about everything political but I got -- -- -- the -- -- and.