Also in this playlist...
This transcript is automatically generated
Again from Fox News and watching -- President Obama was out campaigning this weight pushing his plan to boost the economy by helping the middle class.
And attacking Washington is too focused on quote phony scandals.
Republicans say they've heard it all before.
On Friday night I sat down what Treasury Secretary -- live.
Secretary -- welcome back to FOX News Sunday could do -- press.
President Obama keeps calling for more spending to pay for infrastructure to pay for education to pay for clean energy all things he's been pushing.
For almost two years and all things that Republicans have repeatedly rejected.
The president says that the GOP attempts to repeal obamacare over and over again are meaningless.
Isn't this just as meaningless.
They're -- -- -- with the president was talking about this week when he's going to be talking about the coming weeks is what we need to do to build a better future for America's middle class had -- -- a future better opportunity for jobs.
How to have security.
And education and education for your children and health care and retirement security.
How be securing your home.
Visiting the American middle class worry about -- what they want us in Washington to worry about so we will keep talking about these things because with the American people who need for us to do but.
Isn't it just as meaningless as -- because it's been rejected whether it's good ideas are not as the Republicans continued to talk about.
Repealing obamacare I've got just not gonna happen -- I know I've worked in Washington for quite a few decades.
I don't know a lot of people on either side of the -- don't believe in infrastructure and I don't know a lot of people on either side of -- Allen -- believe and educating the next generation if they think it anywhere opposite problem -- -- that we cannot understand why I think that if you look at where we are today you have to realize we're not where we were in 2011.
We've actually worked together it's been a messy process but we've worked together.
And we've reduced the deficit considerably.
In the budget control -- we reduce the deficit on the discretionary spending side this year with at the beginning of the year we enacted in some tax legislation that.
Raise the tax rate is -- very tough for the highest income.
We saw more work to do and the across the board cuts that kicked in are not good policy we think they should be replaced -- sensible alternative entitlement and tax reforms.
But we actually accomplished.
Roughly the amount of deficit reduction we also got to accomplish a few years ago we're now -- -- about the composition.
We need to get on with the business of the American people who don't want us arguing about numbers they want us to build a better future for -- America.
Middle class let's talk though about the budget because the government runs out of money on September 30 which raises the possibility of still another drama and another government shut down.
And while the president talks about higher taxes and more spending -- investment as he puts it.
The GOP says that the sequestered must stay in place a 109 billion dollars in the next fiscal year starting in October may be reconfigured.
But a 109 billion dollars plus billions of dollars more in spending cuts they say -- spending.
Other than the Republicans surrender and what's your plan to avoid a government -- Here Chris if you look at.
What's going on right now in terms of our deficit.
We are reducing the deficit at the fastest rate since the demobilization.
After World War II.
-- talk about growth.
We need to talk about what how do we build better futures for America's middle class or use and we don't have a deficit problem anymore we're sixteen trillion dollars and that I'm telling you that we have -- set of short term and long term challenges in the short term if you look at the amount of deficit reduction we're doing.
We were just criticized by the here IMF.
For doing too much too -- that we should do more later in -- now in the international community I just came back from meeting with finance -- ministers around the world.
There is -- -- a consensus in the world community that we need to focus on growth.
That you cannot just cut your way to growth you need to have policies in the short term which help an economy grow and medium and long term reforms that put things in the right place for.
The long term Republican sensible Republicans would agree did you need more growth they say the -- way to do it is to lower taxes and to reduce.
The regulatory burden let me ask us the success we've seen the results of both approaches that -- did not work.
Well we'll talk about the Obama approach and how much that's worked in a moment but but it is.
The Republicans say we want to sequester that was part of the deal of the budget control like that you talked about the response and in 2011.
A 109 billion dollars in spending cuts -- the next fiscal year starting in October.
Will the president sign a government bills like funding bill -- continuing resolution or some kind of budget bill that includes a 109 billion dollars in spending cuts.
Even if it's configured Chris the president has made clear he's told congress he will not sign a bill if it fixes defense at the expense of domestic spending.
I think we've seen in the house the Republicans have been writing bills that do exactly that.
They don't I think have a way to solve their own problems without doing that and I don't think that they could even pass the bills.
That that would result in terms of the cuts to education to health to all the things the American people care so use -- name and what -- are you -- that a president would veto.
Hey hey bill I apron -- resolution to the budget.
Shut down the budget crisis at the end as of September that included -- a hundred billion dollars in new spending and how I'm saying is that congress has to write bills that meet the challenge that the president set forth the start investing in our future.
And congress cannot.
Still from domestic priorities to fix problems that.
Across the board cuts caused in defense.
I think the right solution would be to get together and have a sensible set of alternatives to replace.
Across the board cuts that were never meant to take effect they were meant to be bad policy that would drive congress to do its work and adopt sensible -- -- -- -- -- I was driving -- -- and the surprising thing is that -- you know a couple of years after everyone agreed this was bad policy.
There are people who are now claiming credit for things that were designed to be bad policy and senseless across the board cuts.
That's truly surprising.
I think if you look at the way congress is been dealing with the these these these these across the board cuts.
It reflects a substantial division even on the Republican side you see senators like John McCain and Kelly I had Lindsey Graham.
Think it's terrible for our national defense to leave those across the board cuts in place -- -- there is a better alternative that's what's.
The death -- that house speaker Boehner said again this week no increase in the debt limit without an equal or greater amount in spending cuts when.
First of all are we gonna hit the deadline and you're shifting money around and secondly short of -- Republican surrender.
Are you going to.
Make a deal to.
How do you avoid them going.
The default Chris.
To be clear.
We hit the debt limit in May we've been using what are called extraordinary measures.
Since then went to repair bills -- -- a deadline and congress needs to do its work it has to stop looking for what's the last possible moment.
No one can predict when -- -- accuracy and they can't take the risk of making a mistake they should.
Get back after they take their time off in August.
And they should finish their work and get it done -- there's no uncertainty about America's ability to pay its bills and I got to tell you what's it like to imagine unless you're planning to enjoy that a ball -- -- -- -- basketball and avoid the default.
Would you do speaker Boehner science they're going to be spending cuts so in 2001 it was the first time in American history that you -- one side arguing.
That default was an option.
It was not an option and cannot ever be an option and they know that they have to do their work they have to pass that the president has made clear we cannot negotiate.
About whether or not -- government of the United States would default.
It was a mistake in 2011 to have that debate it hurt the economy.
And I think -- congress knows it has to do with the.
Yes but that secretary Lou it this idea of a clean.
Debt limit bill is not.
Britain and stuff on the fact is when you -- the deputy director of OMB back in 1997.
That Bill Clinton signed an increase in the debt limit that was tied.
To balancing the budget to deal with the congress so it happened it was good enough for Bill Clinton why can't Barack Obama make the same deal can't Chris.
Things changed in 2011 in the 1990s the 1980s all the previous debt limit debates.
There were discussions about what should be done as the debt limit his resolves.
2011 was the first time there's debate about whether or not to default where there was actually one side arguing that default could be managed.
That is just wrong it will be terrible for the US economy we terrible for the world economy it's irresponsible.
And I think congress learn that lesson in 2000 elaborate.
Q you talked about the economy and you talked about the president I wanna put a couple of that's the statistics up here for the Walt let's look at that growth.
Growth in the fourth quarter of last year was point 24%.
It was one point 8% in the first quarter of 23 team.
There's a lot of a lot of people believe is going to be less than that close to 1% in the second quarter of 23 team.
I also want to put because the president talked a lot about inequality I want to put up.
-- some statistics about the middle class and how it's done under President Obama let's put those on the screen.
Median real household income.
He is down 5% that's 2718.
Dollars a year on average.
Since the recession ended in June of 2009.
Still in the recovery median real household income has gone down.
The percentage of Americans in the work -- has dropped from 65 point 7%.
To 63 point 5% again since the recession ended.
Point of all that's lot of numbers the middle class has fallen behind for all of this talk about equality the middle -- has fallen behind under President Obama.
So Christie you've just made a case as to why things the president was talking about this week or so important we need to focus together in a bipartisan way and the things we can do to help America's middle class.
In the -- the truth is the core of our economy is this.
Strong it's resilient and we've been grown been growing for forty months.
We've seen in -- good job growth forty months GDP growth -- kind of economic growth for four years.
It's not fast enough we want to do everything we can't to speed the pace of economic growth and job creation.
That means we have to address the issues the president laid out this week.
We need to do things to help build a foundation for better jobs let me ask you one question if you're so -- in creating more jobs.
Why not approved the Keystone Pipeline which would create tens of thousands of jobs are presenting as you know the Keystone Pipeline is being reviewed it's been in a process -- was slowed down because several years it's been reviewed and plays they had I think what this race for years if -- -- it was they were there are some political games that were played that took it.
Off the trail path of completion when Republicans put it out there -- some thing.
That was put on a timetable where it could not be resolved it caused the delay we're now getting to the end of the review and we'll have to see where that review as bit.
I think playing political games with something that is a mistake.
I want to ask you about what other part of president Obama's speech this week -- look.
This -- endless parade of distractions.
And political posturing and phony scandals.
Washington's taken its eye off the ball.
And I'm here to say this needs to stop.
Question does the president thinks that the I arrests targeting of conservative groups is a phony scandal.
The president has made clear I have made clear -- the mistakes that were made in judgment very bad judgment managing the 501 C four program.
And they had to be fixed here that was not a phony scandal well he appointed an acting IRS commissioner who's taken decisive action -- out all the people who had supervisory responsibility for any of the decisions leading up to that he's put in place.
The methods to make sure it doesn't happen again.
I think that we -- let's look at the facts.
There have been a lot of investigations -- -- hearings -- -- the Justice Department.
There's no evidence of any political decision maker who was involved in any of those decisions.
And I think the attempt to try to keep finding that evidence is creating.
The kind of sense of a phony scandal it was being referred to there but let me there was a problem the problem has been addressed.
And there was no political involvement that there's any evidence well let's talk about that on May sixteenth.
The president directed you to investigate the IRS cancel again take a look.
I directed secretary -- to follow up on the IG -- To see how this happened and who is responsible and to make sure that we understand all the facts.
So it's this is supposedly behind us has been more than two months since he directed -- to lead the investigation.
Explain to me how it was.
That conservative groups.
We're targeted by the guy around so look first of all Chris what we found that as we went through to find the facts is that there was equal opportunity bad judgment it was conservative groups it was progressive -- equal numbers are not grossly disproportionate conservative -- are rising number of groups didn't that event that the bad judgment was equal opportunity.
But I'll do a number of -- now that was like it was and I think it's over a hundred as compared to maybe a dozen.
But you need to look at how many.
Cases of these there were there were in the same -- was responsible for -- look there were a number of supervisors.
Paul career who exercised bad judgment who were relieved of their responsibilities.
You did -- I think that what happened there is is.
And justifiable is not acceptable to have the kinds of screening -- left or right.
Liberal -- conservative where -- targeted in anyway for your views but there's no political official who condoned it or -- let me ask you let me ask you about the -- And IRS official Carter hall told congress this week.
That he was ordered to send applications from two.
Tea Party -- for tax exempt status to send them to the IRS -- counsel's office that's William Wilkins is a political appointee.
As that a political appointee he reports.
-- you to your office.
How -- you ask William Wilkens the IRS chief counsel appointed by President Obama.
What involvement he or his office had -- all of.
Let us know Chris -- to be clear there are 16100 lawyers in -- chief counsel's office and there was no suggestion that this went to the one political person and -- office there's no evidence haven't.
There has been no evidence -- -- what would amend it did have you asked him.
Chris I I I'm leaving the investigations in the proper people who do investigations.
I don't think it's appropriate for me to do the investigation is somebody there are some of the treasury there are not -- since -- somebody in the Treasury Department asked William Wilkins.
What he knew about us Chris there is no evidence that this went to any political officials.
-- there hasn't been an investigation the Justice Department investigation isn't complete the inspector general never conducted an investigation we conducted an audit.
So -- Who wears the investigation an awful lot of time -- done and asking a lot of questions of a lot of people I'm not saying it's -- and we will cooperate with all of the ongoing investigations we have and -- I'm just challenging your assertion then -- something has been shown when no evidence has been produced to show us I find.
Just wondering why the questions haven't announced well -- have to look at evidence that comes forward and respond to it.
On a different doubt when you were nominated as Treasury Secretary.
And let's put us up on the screen in your signature that's the opera one and -- got a lot of -- -- in fact from the president who set it looked like to need Tyson and hostess cupcake.
Below is -- signature that's gonna start appearing.
This fall on money because you're.
-- the treasury -- started appears on money that that's in the on the five dollar bill.
And it looks different so the questions I have are one why did change -- signature and -- how did you change his signature.
Chris I've been working on my handwriting for many decades and I obviously still have some more details.
But but I mean did you decide that isn't gonna do for the currency of the United States I -- have a different signature area.
I will confess to having a certain challenged with penmanship and and I always do my best since.
secretary thank you thanks for coming in -- very much appreciate it please come back it's always a pleasure sir -- to be -- Chris thanks.
Filter by section