Page 107 - Spending Problem News Today

It? >> i dont know that im an expert on new jerseys particular ins and outs of their budget. i do know that ive combed through several state budgets because theyre out of control in spending nationally as well. and its very interesting. like a lot of things in government, there are a lot of wastes. i dont know health care and pension is where they need to cut spending. but they have the highest tax rate per human being when you add up all their taxs and divide it out by one study that was done i...

Something the senate 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...

California cant do math. 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 discon...

Way benefits, charitable deductions or cutting them down, close to $300 billion. bank fees, another $90 billion. there you go. those are your savings. >> this is not a. >> reporter: for fast economic growth or solving budget problems. you have to ask why do this if even after you do, run a trillion dollars deficit ten years from now. >> not that i would have been happy with the tax hikes on any group of people, but i might have been more okay with it if there was serious effort to cut spending. ...

More than they are doing to try to rein them in? >> i think this year, you simply have to give the administration, by and large, a pass. it did inherit a very weak economy, it inherited programs that were intended to compensate for that, theyre very expensive. the thing they own is the next ten years. so any administration can put whatever it wants in a budget. it controls it completely. so when you see this budget and look at 2020 and see a big budget deficit still ten years from now, when the ...

Go down unless, quote/unquote, everything is on the table at the end -- as far as youre concerned? >> weve seen a variety of efforts to fix this through the regular process in congress. hasnt worked. so the reality is this. we have an enormous spending problem in the federal government. we need to take it and get it under control. even this budget, which has revenues going well above their norms, 19.6% of spending under control without pretending you can tax your way out of the problem? that bec...

What we just gave -- if we could get our spending in line. so i think it is incumbent upon us, we dont have a revenue problem, we have a spending problem and it is time we get that under control. >> you may have both now. because that is a giant if that this tax cut will pay for itself. you will certainly -- >> i dont know that it will -- ill be glad to come back at some other time and we can debate that back and forth. because i could give you real numbers. but right now when you look at econom...

$1.5 trillion to the debt over years. what about all that talk? is this republicans saying never mind. >> those are the facts that are ignoring this is growing the economy skbloo how do you know that. >> look at history -- if you look at history. >> you look at history that hasnt been the case. >> go back to the reagan tax cuts eight of the next ten years government revenue was higher after the tax cuts than it was the years the taxes were cut. you had millions -- $15 million jobs per capita hig...

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