Lots of folks complaining this health care thing isnt going as planned. Gary you say its going exactly as planned. What do you mean . I do. I think they want to get to the point where government controls everything, aka the single payer system where government is in charge of all of health care. You saw that little clip that john podesta pointed out like medicare is for a single payer system. I find the whole idea laughable especially after weve been through the past few months with just a single obama care, the federal website, totally inept. The president himself said in the press conference thursday, geez, this Health Insurance thing is complicated. I mean, could you imagine going to a startup called amazon and sent out a note, sorry for the problems. Retail is complicated. The idea of government controlling Health Insurance, it would surely send us back into the depression. Jim, you dont necessarily agree, getting to single payer is not necessarily a bad thing according to you. No, brenda, its not but as to the folks who are living or think theyre living in an episode of the x files that was not the plan all along. I mean, there couldnt be more space in between obama care and the Single Payer Health care system. Look, we have single payer alth care already in this country, its called medicare. And guess what . Medicare has a higher Approval Rating than all private Health Insurance. Well tracy, what about obama care, the Approval Ratings are just going down like that. What do you think, are we headed to a single payer system . God, i hope not, brenda. Look, i dont think its conspiratorial. I think they were just kind of dumb. They didnt read it. They had no idea what they passed. It was incompeten left to right, down to the web side. Single payer system would be so bad for this country. I get the notion that we have to sort of get some Preventative Care out there and things like that but the way that theyre talking about doing this, god, its like taking you back to the kremlin. Its crazy. Jonas, anybody who has been to the dmv or post office isnt quite sure they want the government to run the entire thing. What do you think . Well, first of all the problem with the Conspiracy Theory it doesnt explain the another hundreds of government sites that are just as badly managed and run and if a lot of people tried to visit the secs website when the show airs it would crash as well. Its not like they have to orchestrate this to make it look bad. It was going to look bad the minute they were in charge of a website because all of the government websites are terrible. I think the public would have preferred a single payer medicare type system to this sort of frankenstein system that is built around the old system and was kind of designed by various lobbying groups in the Health Care Industry who wanted more health care and everybody mandates they get a certain high quality level of Health Insurance. I think the public if they could have opted into medicare below age 65 or kept their Health Insurance would have been easier to implement, probably cost the government less in the long run, so i think it was a mess but i dont think it was designed to mess up so we could get to that. Theyll never get to that now after this screw up. Y john, single payer system, is it more or less expensive for us . What does it do to the economy . It will be more expensive because youre not dealing with a delivery system. Youre dealing with who pays and that was the whole thing with obama care, too. Jehmou is right. These guys didnt fail on purpose. They failed because theyre five foot tall guys in ten feet of water and this is what happens when you have ideologs who dont know anything about business, trying to spend hundreds of millions of dollars setting up a business. They overpromise and underdeliver, they have blatantly told falsehoods which i think is more apt to be true. If you want the government to spend hundreds of millions of dollars and blow a website you could have hired any two 22yearold sophomore engineer in Silicon Valley to build thats what you have Single Payer Health care system. The government does not to be involved. Jehmou, i know you disagree. I dont care about the website, as long as it gets fixed. Of course thats the basis of your health care system. But yes, if you look at the benefits of single payer and what that would look like, theres a reason 70 of americans approve of medicare. Theres a reason 60 of voters would kick out any member of congress who tried to make changes to medicare. So when it comes to running a Single Payer Health care system because its entitlement. Find me someone who wants to turn away an entitlent. Thats the problem and it gets bigger and bigger. Were not fixing anything. We keep making bigger messes and punting to somebody else. You know the president on friday punted to the insurers and said okay, you can have your plan back now its their problem if they dont give it to you. Thats all we keep doing. Were not fixing anything. We make bigger messes. Jonas . I dont believe actually the president wanted this system, so i think president obama if he had the control and could get the votes would have gone single payer. I think this was the best next option he could get that was still dealing with this problem of uninsured people and people using Emergency Rooms and people with preexisting conditions. I think when the dust settles, to agree with the other guest is that people will like this more when the site in six months is working because at the end of the day, there are some people who will benefit, although other people are going to have higher costs. If you couldnt afford, if you have preexisting conditions it will work out sort of like medicare and the reason why people dont like medicare, it is subsidized for every Single Person in it. Everybody is getting an artificially low rate when youre over 65 in health care. Thats why its so popular. It keeps costs lower in some cases than private care. Whoa, whoa, whoa. Larry, go ahead. Im just astounded that people are using medicare, which is a single payer system, as an example of some kind of great government program. Right. Medicare is a pyramid scheme, basically the young pay for the old as jonas alluded to. Used to be 4 1, now down to 2. 5 young to old. Medicare expenses will double in the next decade, 17 billion a year of fraud. This is not exactly the amazon of health care that were promoting here. So jehmou that isnt the model that youre touting. Well, i think garys out of sync with americans who benefit from medicare. Were going to run out of money with medicare. There are certain fixes that have to happen and have happened in looking at the fraud and cutting 700 billion out of waste that was in medicare. It can be fixed, sure, but the way it is right now it can . Its good for the economy, good for the people who receive Health Insurance through it and because its free. Youre not going to be able to take it away from them. Its good for the economy . We dont want a bunch of sick seniors sucking up our dollars at the end of their life from health care. Its apples and oranges. Anybody who gets entitlement theyre not going to be happy. 90 americans who would throw out all members of congress is the bigger number and i cant figure out who the 10 of people are that support them. It must be their mistresses or family because the Congress Running anything is a disaster and thats been proven. We have to go. Want to know where all this Health Care Mess is heading . Think housing crisis, why we could be witnessing the next huge taxpayer funded rescue. Thats at the bottom of the hour, but up here first, uncle sam raking it in as d. C. Is forking it out. Forking it out. Did we just hi honey, did you get e toaster cozy . Yep. Got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. So i kn untilt was full. Youd be crazy not to. Is tt nana . [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. So i deserve a Small Business credit card with amazing rewards. 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The estimates are in, and its going to be a record year for uncle sam. The white house predicting the federal government will rake in get this 3 trillion in tax revenue, this fiscal year, thats definitely a new high. Meantime this keeps heading to new highs, too. John, proof we dont have a taxing problem, we have a spending problem. Weve got a massive spending problem. Look, we could have 30 trillion a year come into our government. Wed find a way to spend 50 trillion. Its exploded over the last 30 years except for a briefs rebite during bill clinton years. Its gone straight through the roof. This isnt about increasing revenue. We need a revenue around a certain 17 to 19 of gdp. This is the fact we have prom e promised free pizza and ice cream to everybody, dont want to cut anything so lets raise taxes on everybody, thats the only answer this congress and administration has. Jehmou, is this proof really that its spending thats the problem, not taxes . We dont need more taxes. We have record numbers coming in. Well, brenda, i mean, our government outlays are actually not that far off from historical trends from 1940 to thats not true. From 1940 to 2012 government outlays were, what, 20. 6 of gdp and 2012 it was 22. 8 . Were not that far off, and taxing isnt the problem either because we actually have gone down as a percentage of our gdp. So yeah, many years ago when i was a kid, movies cost 5 and now they cost 10. That record isnt really meaning anything. Tracy, take her on. Its so crazy on so many levels. First of all were benefiting from low Interest Rates right now, that might be part of the reason why the number is down. Watch when Interest Rates go down how our Monthly Interest rate goes through the roof. That is going to cripple the country. Second of all you find me one person that does a happy dance come tax time that doesnt owe more and more every year. Sit down and do your tax return you cant believe how much money we get to the government and dont get any of it back in the benefits were supposed to see from it. Raising taxes is not the issue here. Shes a tax accountant so she knows about the numbers. Gary, is this proof we have to cut spending, not raise taxes . Brenda, theres just so many points i could address in this but let me address the first one which we alluded to in the first segment. Government is inherently wasteful. I mean, i mentioned the 17 billion, billion dollars a year in medicare. Expand that across almost every department, social security, food stamps, et cetera, et cetera, first of all you got that much waste but we need look into further, brenda, than the obama care website, in the time it took to fight and win world war ii, we spent 100 million on a website that doesnt work are you trying to tell me the government needs more money to waste on these ko cocamamie products . Does this change your mind at all, jonas . If anything it shows we are owe an a fairly good path. I wouldnt say our problems over but over the last few years revenues have come up for the government and Discretionary Spending has been going down, not as much as it could but enough to put us on solvency. But the debt is going up. The debt, the spending, the amount of tax just because of inflation, our economy gets better every year, it should produce more tax revenue other than during a recession like a few years ago. Some of the spending plenty b and were on a dangerous path with the entitlement programs but an accountant doesnt care how dumb i am. They want to know how much im spending and bring in and that is a direction we could go on. If we dont continue to cut the spending were not done raising taxes because were not going to meet in the middle. John, john, say hello to jonas. Tell him what hes got wrong. You could cut Discretionary Spending 80 and wed still have a deficit problem. We have to deal with entitlements at some point and what tracy says about Interest Rates is 100 true. Interest rates go up, we will not be able to service our debt and pay one soldier, put one light on in the white house, pentagon, anything else. Weve got to get spending under control and we dont have a politician with backbone enough to do that anywhere in d. C. Thats it, the last word. Thanks, guys. So will making school days longer really make our kids smarter or just our wallets smaller . Class is back in two. Its as simple as this. At bny mellon, our business is investments. Managing them, moving them, making them work. We oversee 20 of the worlds financial assets. And that gives us scale and insight no one else has. Investment management combined with investment servicing. Bringing the power of investments to peoples lives. Invested in the world. Bny mellon. Does your mouth often feel dry . 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[ male announcer ] once its earned, usaa Auto Insurance is often handed down from generation to generation because it offers a superior level of protection and because usaas commitment to serve current and former military members and their families is without equal. Begin your legacy. Get an Auto Insurance quote. Usaa. We know what it means to serve. Okay, so kids may soon be staring at that clock for an extra two hours. Growing number of schools and School Districts are extending their day beyond the standard seven hours, try closer to nine plus hours. Pilot programs already showing longer days mean higher test scores but it does cost more and tracy, is this a good investment of our tax dollars . You know, i got to tell you, brenda, i dont think so. I think we got to fix what we have now. So many of o School Systems are so messed up. So why would you want to keep your kids in this longer day, in a messed up School System . It doesnt serve the purpose or help society at all. Lets get in on these inner city schools that are having problems, lets fix them and teach them first before you just keep them there longer and waste taxpayers money. Yehmou, is this smart or dumb . It seems smart because the test scores have gone up between 14 and 23 in the states that have already tried this, and this is about these inner city schools where there is a drastic need and just dearth of child care for parents who are working and dont have the opportunity to spend as much time with their kids after school. So yes, this is all around a good thing. How can we look at the teachers who are saying its helping, its making their instruction more effective, and then say its a bad thing. Im scratching my head. Gary b. Is it a good investment . Well thats the key. Im kind of in between tracy and jehmou on this. Yes, there has been some positive results, but you know, tracys point is sal valid. Since the 1970s weve doubled Public Education spding and you look at science scores, reading scores, math scores, theyve l flatlined. Theyve done nothing in all that, so maybe theres some incremental benefit to this but i can see all the teachers unions saying if we work more hours we go v to get a lot more pay and i look at that big bill that weve run up so far. Weve got nothing for it. John, you work with kids in poverty. What do you think of this program . We do something similar in bermuda, we are 100 pri