President Obama told John Boehner that America does not have a spending problem. But we do!
I was astonished to learn that in 2006, when George W. Bush was President, then-Senator Obama was actually upset about our national debt. From the Congressional Record:
I rise today to talk about America's debt problem... Our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘trillion' with a ‘T'...It took 42 Presidents 224 years to run up only $1 trillion of foreign-held debt. This administration did more than that in just 5 years.
That's true. But Obama's administration ran up another $6 Trillion in debt! Government now spends $3.5 trillion every year. How is that not a spending problem?!
On tonight's show, we bring in comedian Reggie Brown to re-enact parts of that speech by President Obama.
Our special correspondent, Kennedy, went to the Inauguration Monday to talk to the President's excited supporters. They are excited that Obama now has a "mandate" to "do big things."
Senator John Barrasso is less thrilled about executive power. His committee released a report about the "Above-the-Law" President.
Mark Meckler and Starlee Rhoades tell us how states can take power back from the bloated leviathan in D.C.
Obama's Immigration and Customs Enforcement agency has deported record numbers of illegal immigrants. But we aren't any closer to a practical immigration policy, according to Daniel Garza of the LIBRE Initiative.
How will we fix our debt problem without addressing the spending problem? Jonathan Bydlak of the Coalition to Reduce Spending has a new "no-new-spending" pledge for politicians to sign. I think it's a better idea than Grover Norquist's no-new-taxes pledge.
See the full episode below:
Watch the latest business video at FoxBusiness.com
Stossel - 1/24/13 - Obama: Part II