tv Right Side With Armstrong Williams ABC January 18, 2016 2:05am-2:36am EST
it is totally reckless. you own your debt. american people own their debts. what our government is doing is saying children tha have not yet been born are going to have to pay back those debts. that is fundamentally immoral. overspending is irresponble. passing on the responsibilities to people that never had a say in the matter, that is fundamentally immoral. >> when y talk about debt, we talk about deficits, there is always this good news that the administration tries to bring out. what tax payors need to know it not good ne. overs this past year, governmen outlays spending up 5%. talk about the shrinking deficit, yes it did shrink, 439 billion dollars. first four years ot president obama, trilliodollar deficits,
fofour straiaight yes. we areaising government spending. this impacts youu and i and everyone at this table, families and children who can't watch the show right nowow. that is how it psys t. people don't know h bad it is an how much they owe and won't know until they see the full details. >> where will the accounting come from? >> from t the voterss at esome point. we use the phrase spending like drunken sailors. i served 34 years in the navy. wh sailors ran out of money they stopped speing. we continue to spend, no end in sight. we are sending 2 billion dollars a year on interest payments on the debt. most of that is going to china. that one data figure alone should worry people.
we see china as our biggest mitary adversary. we are paying a quarter off a trillion dollars every year to pay the interest on the debt and goes to china until the public realizes. has to be a painful level. >> let's come back to the painful lefrl. morere about the budgett defici with mark, horis and amichi here on "rightside" forum. ♪ flish
>> welcome back to the forum. my guests, mark hyman, vice president of corporation relations horice cooperr and amichi for the tax payor's protection alliance. i want to show you a stat. look at this stat. look at the screen. look at this. what does it tell you? talk abbout that pain, mark. >> 18 trillion. trial now, gross domestic product 17.4 milon dollars, our national debt averaged 35%
of gdp. it has been about 75%. it has taken lot of people a lot of effort to get us to this figure. in the last several years, our national debt has been 75% of the gdp. today over 100%. it is 106% of gdp. those are unsustainable numbers. the bill is going to come due. there will be a day where there are painful measures. early this year the president referred to mindless austerity. "new york times" called it painful austerity. we are not in a period of austerity. we are spending money frivolously. if we cut federal spending in half today, it would trust us back to the dark ages of 2002. not a difficult time when it
came to spending. >> i want to echo this. we ought to be looking at 200% ratio of debt to gdp. here is the reality. therere are americans in this countr they come home and look at the bills, may incomes aren't working for them. maybe husband or wife lost a job. maybe some other financial claimty. they are selling a car. they areiving up vacations. they are calli it stay-cations. only the federal government says if i have to reduce the rate of increase will icream andell and cr the truth of the matter is, only unsustainable, ultimately we are going to find ourselves in the very same grief scenario.
outsiders dictate to utheir terms. we are not going to like that. >> you know, mark, express -- experts say debt is good, it is an asset. >> i disagree. >> howow could they come to tha conclusion? >> that is for them to explain. >> there is nothing wrong with the idea of getting a loan for g.mething. there is something wrong with getting that loan only because you will never be able to s aside t the resources. that is what our federal government does. financing a homeom loan ter nothing bad about that. if the only way youu can go out and spend dinner and movie f your wife is to finance it, there is something wrong with it. debt that has long term benefits
worthwhile. draws no distinctions of any kind when it comes to debt. >> i think what is important, as we watch the graphic as you put up, it isot going down. that is one big problem. second what horice said, it is unsustainable. right now there are things that the federal government refuses, tax and enentitlement reform. entitlemement reform desrately needed in a responsible way to make sure that number doesn't keep going. it is going to be over 20 trillion. both parties own this. whether they aren the congress
or the white house. when the budget was just passed, this was what a year earlier chris mitchell and john boehner, our priorities many of the most pressingng -- americans stealin from children and grandchildren robbing them of benefits and leaving them with burdens nearly impossible to pay. when republicans retake the senate in 2014, they are headed towards january 2015 in charge of the houses of congress, republican lead, senate, hohouse both say we ve to get this overspenending under controllin. we can't steal from ourur children. a year later they are part of this budget deal. two-thirds of the republicans in the house voted against it. two-thirds in n the senate vote
against it. blows out our spending caps, increases debt. no mnoningful entlelement reforms. >> i know we have a little time. we are going to pk it up when we come back? how do we get it under control? what are the sacrifices? how do you educate the people, "rightside" forum more about the federal bubudget deficit, look the figure a and stay tuned.
♪ >> how do we get this number under control? >> it is interesting, if you watch at is going on in the presidential race, year of the outsider in some respects, they have the best plans when it comes to spending and budget, they are not par of the washington establishment which is what elevated bernie sanders, elevated ben carson and donald trp, people seen as not part of this process. we need to take meaningful
steps. it is not going to change until there is a preponderance of people in washingto house and senate, to vote properly, reign in spending and president of th white house who will sign that budget agreement. >> the people that you owe those to are coming up with innovative solutions. they are selling you a car and putting kill devices in the they can stop the car, safely in your driveway or at your job and come and bring it back. you know what? when you have credit cards and not able to make the payments, they are requiring people to put a security deposit down. you are going to need external controls so that you can get government under control. that means something like
saying, 16% percent of gdp is enough income for the government. you have to do that with a constitutional amendment to limit them. when i say 16%, people go running to the t hills, that ses crazy. you know why? we are spending 17, 18, 20% of the gdp the government is spending. we have no control whatsoever. we need external controls that limit the ability. >> look at the states, some of the states and some of the governors and state legislatures are doing very importantthings. they have bills to pay, too. they have reforms they have made in places whether it comes to pensions or labor reform or how they spend moneyey on education.
federagovernment is can look at states that have to balance the budget. there are ways but if you do it in a responsible name, it is important 6789 >> we need a cap on the absolutt number of employees that work for the federal government. we need a cap on how much the government is spend on pensions. we need a cap on the overall threshold and we need to ha a nversation with all of the folks that rely on entitlements. we are going to reach a point where we cut them all off or transform them and reduce the cost associated with them. isn't just going to be a nice conversation. same kind of enal force that changes us that we see in the private sector.
>> part of that includes let's turn the camera back on us. we need to do a bter job of addressing the issues. both the "washington post" called it arab austerity. budget control act weent into effect. 2.7%, nine-tenths ofof percent. we in the media need to do a better jobover explaining this to the public so they can make up the t might. if they are happy with overspending then they know. perhaps they'll vote
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good morning. i'm reena ninan. >> and i'm kendis gibson. here are some of the top headlines we're following this morning on "world news now." fireworks on the democratic debate stage as hillary clinton and bernie sanders went head to head with just two weeks until the iowa caucuses. our political experts take just ahead. five americans have been freed from iranian prisons after secret negotiations with u.s. diplomats. a prisoner swap brought four of them home. we'll have much more on the developments straight ahead. if you've been in northern michigan yesterday, you could have filled up for less than 50 cents a gallon. it was a brief price war, but with oil about to come back on the market, you may get another chance soon. >> and peyton manning and the denver broncos one step away
from the super bowl after defeating an the pittsburgh steelers last night, 23-16. the broncos will host new england on sunday in the nfc. it's carolina hosting arizona. those are some of our top stories on this monday, january 18th. >> announcer: from abc news, this is is "world news now." we do say good morning to you. we're going to get started with the last democratic debate before the iowa caucuses. it's now just two weeks away. >> hillary clinton, bernie sanders, martin o'malley sharing the stage in south carolina. abc's deputy political director shushannah walshe joins us now with the night's most memorable moments. >> reena and kendis, good morning. this final democratic debate before the iowa caucuses was full of fiery exchanges with hillary clinton and bernie sanders quickly taking the gloves off. one of the night's earliest clashes was over gun control. on the stump, clinton has blasted sanders for what she
says is his opposition to strong gun safety measures. last night, he responded. >> well, i think secretary clinton knows what she says is very disingenuous. i have a d minus voting record from the nra. >> i have made it clear, based on senator sanders' own record that he has voted with the nra with the gun lobby numerous times. >> another powerful exchange was over health care. clinton accusing sanders of wanting to undo obamacare. >> we finally have a path to universal health care. we've accomplished so much already. i do not want to see the republicans repeal it and i don't want to see us start over again with a contentious debate. >> no one is tearing this up. we're going to go forward but what the secretary neglected to mention, not just the 29 million still have no health insurance that even more are understand insured with huge copaymentses
and deductibles. >> just hours before the debate, sanders surprisingly unveiled his own health care and tax plan. it's $1.3 trillion a year price tag. but he downplayed that during the debate. and in another big moment, sanders was also asked about bill clinton's past. but seemed to be annoyed with the question. >> yes, his behavior was deplorable. have i ever once said a word about that issue. >> no, i have not. i'm going to debate senator clinton on the issues facing the american people, not bill clinton's personal behavior. >> of course, there was another person on that stage, former maryland governor martin o'malley repeatedly pleaded for more time but was drowned out either by his competitors or the moderators. reena, kendis? >> thank you so much. with an eye toward iowa, donald trump sharpening his attacks on rival ted cruz. >> shocking that he would do that. he's telling abc's george stephanopoulos that cruz is a
nasty guy and pounded cruz for failing to disclose loans he got from big wall street banks, cruz calls it an oversight. trump says he intends to spends more on television advertising because he says he's running millions of dollars ahead. >> the morning's other top story, five americans are tasting freedom after being released from prisons in iran. the extraordinary development comes after secret negotiations between the two nations that have been enemies for decades. abc's elizabeth hur has more. >> good morning to you. president obama says this is certainly a reason to celebrate knowing that at least four out of five americans are now headed home. and abc news also learning that this was the result of 14 months of negotiations. three americans held for months even years behind bars in iran landing first in switzerland, then germany. >> this is a good day when americans are freed and reunited with their families that's something we can celebrate. >> reporter: the wife of saeed
abedini tweeting he just landed in geneva. he's getting ready to leave to germany. i should talk with him in just a few hours. thank you for your prayers. the father of two was imprisoned for three years. another of the released, jason rezaian detained for 18 months charged with sponge in a closed door trial. once he with his wife and mother by his side was safely out of iran, "the washington post" released a statement saying we are relieveded that this 545-day nightmare for jason and his family is finally over. also on board, amir hekmati, detained the longest, four years. the former u.s. marine arrested in iran while visiting his grandmother. rezaian, abedini and hekmati spent time at iran's notorious evin prison where they were allegedly subjected to beatings and psychological abuse.