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Economy means a surge in tax receipts. that takes pressure off the federal budget because there's enough money to finance both federal spending and other things while keeping tax rates low. that's how things were during economic recoveries of the 1980s and '90s. you could make a budget deal, there was enough money to go around. the booming recovery of those days have given way to the rebound we have seen since the so-called great recession ended more than four years ago. yet president obama is fixated on wealth inequality, like that's holding back growth. democrats would prefer everyone be equ...

The government doesn't create wealth, it absorbs it, the private sector creates it. >> we are getting ready for the next round of what could be standoffs, the debt ceiling and battle back and forth between congress and the white house. do you think republicans now are going to use that lever again effectively? >> i think they'll try. the danger for them is that if they carry that all the way, brinkmanship to extract spending cuts or other spending reforms, and it results in government shutdown, the history of this has been that people want the government cut down but not shut down. when a shut...

You can only dream about. >> reporter: despite budget battles, president obama plans an eight day vacation on martha's vineyard. while house republicans are on recess until september 9th, both insist they can avoid government shut down. >> there's ample time to make sure it doesn't happen. we don't need more self inflicted wounds. >> reporter: the lack of urgency, despite two studies that show the economy is deteriorating, with the rich getting richer, while the poor are struggling even more. associated press is out today with a new survey showing four out of five americans, 80%, live near pov...

Their kids their biggest problem is i guess they are not buddying up to people. buying the right people the expensive bottle of wine and taking them out to dinner and wining and dining and say, listen, i need your help on this bill. >> yeah. >> sean: i need a provision here. can you help me out? >> yeah. >> sean: that's what's happening and they are all getting what they want. >> that's exactly right. if middle class americans could hire lobbyists, their lives would be better. it's a severe subgame in washington, d.c. the success and wealth of washington, d.c. doesn't create wealth for the res...

Their kids their biggest problem is i guess they are not buddying up to people. buying the right people the expensive bottle of wine and taking them out to dinner and wining and dining and say, listen, i need your help on this bill. >> yeah. >> sean: i need a provision here. can you help me out? >> yeah. >> sean: that's what's happening and they are all getting what they want. >> that's exactly right. if middle class americans could hire lobbyists, their lives would be better. it's a severe subgame in washington, d.c. the success and wealth of washington, d.c. doesn't create wealth for the res...