Financials are spinning out of control in Washington: David Walker

ONE REAL QUICK THING I'LL POINT OUT. THE INCOME LEVEL AND WHAT YOU COULD TAKE IT NOW HIGHER EXEMPTION I THINK IT WENT UP TO A MILLION DOLLARS. YOU LITERALLY HAD 5.2 MILLION PEOPLE IN THIS COUNTRY WHO USEFULLY YOU SAY GET HIT BY THIS AND NOW IT'S GETTING TO ABOUT 200,000 PEOPLE I THINK. TAX BILL IS PRO GROWTH IT'S CAN CREATE MORE JOBS AND IMPROVE OUR COMPETITIVE POSTURE OUR FINANCES WERE SPINNING OUT OF CONTROL AGAIN IN WASHINGTON. WE NEED TO FUNDAMENTALLY CHANGE HOW WE GO ABOUT THE CEILING. AND THAT'S REALLY CRITICAL. BECAUSE THINGS HAVE STARTED TO SPIN OUT OF CONTROL AGAIN. UNLIKELY TO PUSH FOR SOCIAL SECURITY MEDICARE CHANGES. THE HIGHEST DEBT TO GDP THAT WE'VE EVER HAD WAS AFTER WORLD WAR II. AND YET WE ARE NOT AT WAR. 70% OF THE BUDGET IS ON AUTOPILOT. IT'S TIME TO HAVE A CONSTITUTIONAL DEBT TO GDP LIMIT. LIMIT. WASHINGTON IS BROKEN AT THE LALA LAND OF THE EAST. WE HAVE TO GET CONTROL. AWAY AND WHY THAT MIGHT BE AN WE ARE WE'RE STILL ADDING TO THE DEFICIT. ABOUT THIS. WHAT NEEDS TO HAVE BEEN FOR HAPPEN FOR THIS TO REALLY COME INTO EFFECT I LIKE WHAT YOU'RE SAYING BUT WHAT IS GOOD TO PUSH EVERYONE OVER THE EDGE AND MAKE THEM REALIZE THIS COULD BE A PROBLEM. PEOPLE ARE VERY SHORT SIGHTED. THEY DON'T UNDERSTAND THE POTENTIAL CONSEQUENCES OF A LOSS OF CONFIDENCE IN THE UNITED STATES IF WE CAN'T PUT OUR FINANCES IN ORDER. IT IS PROGROWTH. YOU WANT TO GROW THE DENOMINATOR FASTER THAN THE NUMERATOR. NUMERATOR. I WANT TO LISTEN TO THIS PIECE HIM AND ASK YOU ABOUT WHAT YOU THINK THIS TEXT TO FORM DOES TO DEFICITS. LISTEN TO NANCY PELOSI. I CAUGHT A PURIST VICTORY. DO YOU KNOW THE ENDING OF THE STORY. THE MONSTER COMES BACK TO DESTROY. LET'S BE CLEAR ABOUT THAT. WILL ADD TO THE DEFICIT. WE CAN'T AFFORD THIS. IS ACCURATE. WHAT HE THINK IT'S GOOD TO DO THERE. BASED UPON THE INDEPENDENT ANALYSIS. IT'S MUST-HAVE $1.5 TRILLION THE FACT IS NEITHER THE DEMOCRATS OR THE REPUBLICANS THAT'S WHY GO BACK TO JET DEBT TO GDP. TO GDP. IF WE DID TRY TO THROW THE ECONOMY. THEN WHAT WITH THE DEBT AND TRILLION DOLLARS. SOME PEOPLE WILL SAY LOOK THEY ARE UNDERESTIMATING THE GROWTH THEN LET'S HAD MISSOURI SHOW ME TEST. THE PROBLEM IS EVERYBODY WANTS TO HAVE A HAMBURGER TODAY AND TOUGH CHOICES ON THE MANDATORY SPENDING. WE NEEDED THIS PROGRAM'S -- PROGROWTH TAX REFORM. DAVID I KNOW YOU HAD BEEN A DATA HOCK FOR YEARS. RUNNING FOR OFFICE AND THE CUTBACKS ARE SO UNPOPULAR. HOW DO YOU THINK THEY SHOULD IT BACK. EVERYBODY WANTS TO GIVE SOMETHING AWAY BUT THEY DON'T THINGS HAD SPUN OUT OF OF THE U.S. ECONOMY. WE HAVE DEBT TO GDP. THE FACT IS THAT OUR POLITICAL SYSTEM IS BROKEN. WE NOW HAVE A REPUBLIC THAT IS NO LONGER REPRESENTATIVE OR RESPONSIVE TO THE PUBLIC THE DEBT CEILING DOESN'T WORK. DEBT IS NOT THE ISSUE. IT'S TIME TO RECOGNIZE THAT REALITY AND PUT SOME MECHANISMS IN PLACE THAT WILL FORCE DECISIONS TO CREATE A BETTER FUTURE. I GET ANGRY ONCE A WEEK AT LEAST ABOUT THE FACT THAT CONGRESS HAS NO WILL TO LOOK AT MEDICARE. THE MEDICARE HOSPITAL FUND ACCORDING TO THE TRUSTEES REPORT COMES OUT EVERY YEAR IN THE MIDDLE OF THE YEAR IS GOING BROKE IN LESS THAN 12 YEARS. ARRIVE. THE GROWTH IN THESE PROGRAMS WELL BANKRUPT THE COUNTRY. WE HAVE MYOPIA AND TELEVISION AND SELF INTEREST. WE NEED POLITICAL REFORMS AS WELL AS FISCAL REFORMS. YOU HAVE TO HAVE EFFECTIVE MECHANISMS THAT FORCE PEOPLE TO TREAT THE DISEASE. WE HAVE COMMON SITUATIONS. HUGE UNFUNDED RETIREMENT

Channel: Fox Business

Views: 1,380

Rating: 5 out of 5

Keywords: Dagen Mcdowell, Mornings With Maria, Apple News, Government Spending, Tax Reform, On Air, Personality, Politics, Special, Topics, Fox Business

Id: 6UUCp5pnUCc

Length: 7min 45sec (465 seconds)

Published: Fri Dec 22 2017