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>> thank you. senior political analyst brit hume joins with us historical perspective on the politics of debt. good evening. >> hi, bret. 25 years ago when congress was locked in a fear debate about the rising budget deficits of the reagan years, conservative house member newt gingrich derided his fellow republican senator bob dole as the tax collector for the welfare state. a sign of the time. deficits were trifling compared to today and the debate will be on about what to do about them. what drove gingrich's characterization of dole is tendency of some republicans with mushroom spending on b...

>> thank you. senior political analyst brit hume joins with us historical perspective on the politics of debt. good evening. >> hi, bret. 25 years ago when congress was locked in a fear debate about the rising budget deficits of the reagan years, conservative house member newt gingrich derided his fellow republican senator bob dole as the tax collector for the welfare state. a sign of the time. deficits were trifling compared to today and the debate will be on about what to do about them. what drove gingrich's characterization of dole is tendency of some republicans with mushroom spending on b...