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Budget in morning and sent it to congress. here's what he told reporters. >> we cannot continue to spend as if deficits don't have consequences. as if waste doesn't matter. as if the hard earned tack dollars of the american people can be treated like monopoly money. as if we can ignore this challenge for another generation, we can't. >> sean: given what is contained in the budget i'm not sure how sincere the president is. it increases the deficit by 1.56 trillion per year and increase the national debt 8.5 trillion. nonetheless, the president is patting himself on the back for being fiscally r...

President obama promised change, but did he deliver it in his massive $3.8 trillion proposed budget for next year? he pledged it will create jobs, help the middle class, support education. will it? at the same time he warned of cuts and said years of deficits have taken a heavy toll on all of us. listen to this. >> we simply cannot continue to spend as if deficits don't have consequences. as if waste doesn't matter. as if the hard-earned tax dollars of the american people can be treated like monopoly money. as if we can ignore this challenge for another generation. we can't. >> the president i...

( sneezing ) ( moaning get over your cold faster. now try new throat-soothing liqui-loz and great-tasting zavors. >> we simply cannot continue to spend as if deficits don't have consequences. as if waste doesn't matter.

>> bottom line is this, we simply cannot continue to spend as if deficits don't have consequence. as if waste doesn't matter. that the hard-earned tax dollars of the american people can be treated like monopoly money. bill: that was president obama on the $3 trillion budget plan, expected to shoot our debt to record levels and now there's brand new reaction, tim palenty, accusing washington of running a ponzi scheme on the po tomac. the governor is with me now. good morning to you. you entry this as a ponzi scheme, where investors put in money at the front end and siphon off of others who come...

President obama promised change, but did he deliver it in his massive $3.8 trillion proposed budget for next year? he pledged it will create jobs, help the middle class, support education. will it? at the same time he warned of cuts and said years of deficits have taken a heavy toll on all of us. listen to this. >> we simply cannot continue to spend as if deficits don't have consequences. as if waste doesn't matter. as if the hard-earned tax dollars of the american people can be treated like monopoly money. as if we can ignore this challenge for another generation. we can't. >> the president i...