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Revenues went up 50%. we saw the same thing during the the reagan era. in fact, tax revenues went up almost five times. i do agree, richard, that you know, in the bush era after those tax cuts we did on deficits, but as toby-- >> climbed in or tried to chime in we had a lot of excess spending we shouldn't have. >> all right, eric? >> that's the problem, the problem is the spending side. here is what you need to do. you need to cut the spending and allow economic activity to come back and start to spur itself. the small businesses produced about 70% of jobs in the country. right now, they are h...

>> predictions. >> toby is up first. >> all right, look it, storm season has come early and it's bad for the the cleanup and good for natural gas prices and so much comes off the coast. i like these guys, they have the best system of getting new gas and getting it in a big way, they're up 30% by the time the storm season is over. >> jonas you like it. >> i think natural gas is a tenor death spiral. i think that social security is in a death spiral. >> toby, you prediction. >> i think this terrible economy is bigs people. what happens, people start drinking or continue drinking. drinking more. ...

>> yes, fyi, sheila bair the head of fdic, on with neil cavuto. what caused this, she didn't mention fannie and freddie, she had no ax to grind. i know you love to talk about it, what the president was trying to do is deal with what brought us to the collapse. lehman brothers would not happen if in bill had been in place in 2008, period, indisputable. >> gary b, what do you think? >> well, look, i appreciate obama's rhetoric, he can really turn a phrase, but this is going to be put in the same category at some point as his one thin dime raising of taxes. look, you know, toby pointed out, a the...

And bail out 4,000 jobs. >> the aling through-- i'll give you that and washingtons, and the other fact that they just warmed up the batters box with aig because the term keeps being slippery slope gets slipperier and slipperier. my favorite, the democrats talking about newspapers need be to be bailed out. this is not the end of it and that's the point of the segment. >> richard. >> yeah, first of all, lehman brothers, my point was we wouldn't have this enormous collapse that was not dealt with. yeah, no bailout, but took a toll on the economy, no question about that. >> so he we should have ba...

Funded bailouts period. >> you heard the president, toby. period? >> it's a new use of the word period. look it, we have fannie and freddie mac, that's a disaster and a trillion dollar bailout and people say that ends the story. no, it doesn't. fha and jenny mae. and the unemployment fund we've extended another 60 weeks that's run out of cash and has to borrow moneys and the states are supposed to pay them back. they're not going to be able to. we have a bailout for newspapers on the list, are you kidding me, period? >> period? >> that was dramatic. >> thank you. >> richard? >> well, the bill ...