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We talked about the $862 billion stimulus that congress passed, the fed has far and away blown through that and put much more money into the economy, without any oversight really from congress, no americans are voting on it or voting people in to do that. so there's been a lot of -- ron paul is a perennial critic of the fed. he doesn't think that there's possibility i asked this morning what he would ask the fed. >> when are you going to admit your policies are flawed and they're failed and you can't work and you can't plan the economy through monetary policy.

Building on the savings that both parties agree to last week. that step alone will save us $750 billion over 12 years. >> well, there is a little bit fuzzy about that math. here is why. $38.5 billion times 12 comes out to only $462 billion. i'm not sure how mr. obama came up with $750 billion. fuzzy math i guess. number two, cut defense. the president applauded $450 billion in defense cuts in the last couple years and said he can make the savings again. do i need to remind you about libya, iraq, afghanistan, al-qaeda, taliban, shoe bombers, underpants bomber, mailbox bombers. cut spending now?...

$462 billion. not 750! he doubled it. peter, i'm trying to figure out how we save a trillion dollars in obama care? >> is there a back up? do we see anything? >> there is nothing! it's just numbers. the closing tax loopholes, itemized deductions, a trillion dollars? these numbers are all smoke and mirrors. there is nothing concrete. the only one was defense spending cuts. that's the only one. by the way, three wars, taliban, al-qaeda want to kill us, is that the time to cut the spend not guilty defense? sorry. >> gretchen: all right. we'll look forward to your show -- >> no, no, i'm the host f...

Own plan after he beats up the other plan, the ryan plan, and it's all smoke and mirrors. it is all -- there are four part, 12-year plan -- can i go through a couple of them? first step, quote, this is quoting the president. the first step in our approach is to keep annual domestic spending low by building -- ready for this -- by building on the savings that both parties agreed to last week. that's that 38 1/2 billion dollars that you fought against, but still, he'll take it. i got to do the math for you guys. this is obama math. there is the 38 1/2 billion dollars. 12 years. $462 billion. how...

Continues to fund this or shutting it down, is this like the one issue that you would vote to shut the government down on, if any funding goes towards planned parenthood? >> well, it's not the one issue. you know, i'll tell you straight up. i think we've got to keep our word to the american people. the american people sent a deafening message to political. it was most clearly expressed in the house of representatives with a historic and decisive changeover of leadership. hr-1 with $62 billion in cuts, defunding planned parenthood, defunding obama care represents the will of the american people...