Page 106 - Spending Problem News Today

To me are hope for cover for the tough decisions to come from this fiscal commission. the truth is, it really is time for someone to begin to tell the american people the truth about what is going to be required. were talking about, as you mentioned, cuts in government spending and tax increases to get our fiscal house in order. correct? >> well, if its going to be palatable, yes. there are people who believe all we have is a spending problem so we should just cut on the spending side. the truth...

What the fiscal commissions designed do. i nake a policy of mine not to sort of get on this table talk. whats on the table, whats off of the table. >> and i dont want do that, but listen three baskets here -- austerity, taxation and game-rigging -- things like auditing the fed, mechanisms in which there are many, where risk is given to the american taxpayer and given on americas future by private businesses and in that case, financial institutions, who then take the money today and give the risk...

Unanimous. but one of the things that came out of there was really health care costs is the shark in the water. whats driving the decifit most significantly are the costs of health care and we had a report that the health care bill actually increased health care spending in america. so i think -- >> bill: hang on a second. lets take that a bit deeper. i thought this whole health care debate was to bring down costs. youre saying thats not the case? >> thats not the case. the bill was sold as brin...

Cursing with the goldman guys. >> i havent been watching the hears. i have a real job on the house side of the capital. >> neil: put down, put down. [ laughter ] >> you can imagine that this is a pretty heated hearing. but i dont think the cursing is necessary at all. >> neil: okay, i was trying to see if you were going to return the favor but thats fine. now to the president and this at the time commission talk and that everyone is on the table. you have assumed for a long time among those thin...

>> they just, by the way, eric cantor passed in the senate, nonbinding resolution saying this idea of a value added tax or national sales tax, not a good idea. >> that is certainly good news. nobody in this country wants to become like some of the big government nations in europe where taxes real lir effectively even just at marginal rates over 50%. then you put a value added tax on and theyre over 60% taxed. like your poll said, wolf, americans think washington wastes a lot of money. we do. we ...

Good idea. >> listen, that is certainly good news. nobody in this country wants to become like some of the big government nations in europe where taxes really are effectively even just at the marginal rates over 50%. then you put a value added tax on, theyre over 60% taxed. like your poll said, wolf, you know, americans think washington wastes a lot of money, and we do. we dont have a revenue problem here, which is why i say we ought to join together and say no tax hikes this year. weve got a sp...

Straits than we were -- >> jesse: come on, george bush, it was way worse. he puts us in two wars and puts it on the credit card. >> and obama tripled that. >> jesse: congressman paul, your opinion on the tea party? >> well, i think its totally disorganized but theyre unified by one issue, theyre sick and tired of whats happening. i think its very diverse. what the problem is why were at a stalemate, the country is broke and no one wants to admit it. they dont act like they understand anything ab...

This guy knows a fastball and is delivering one on the floor of the senate right now and more on that, now with martha, as our coverage continues. martha: this whoa-nelly, and playing out with harry reid and jim bunning and bret baier, you have a full show based on the last 10 minutes, and incredible back and forth and, you know, what strikes me, bret is once again you have democrats talking down one line of the fence and republicans talking down the other and harry reid stands up and says, this...

Overseas, because of the endangered species act 30 acres of their land was confiscated by the federal government and they have to pay taxes on it. why? were trying to protect a fly. that is insane. >> glenn: how do you stop this? >> we have to stop it with two simple but profound things. first, no more money government. no new taxes on anything. its why i find the taxpayers -- signed the taxpayer protection pledge. if your teenager has a spending problem, what do you do? you cut off the money. >...

Pete wilson in 1991 had a spending problem. he had a budget of $51.4 billion. that was out of control. then it was 75.3 billion. under i dont know, gray davis i think. in five years after that, it was $104 billion. it was actually $104.2 billion. so they brought in arnold schwarzenegger. i want to terminate this debt. really? he promised a new direction for california. this is what he promised. >> this historic election has come about because there is a tremendous disconnect between the people o...