0 and places like l.a. through the roof. you can see the tradeoff, nice breezes, scant take home pay. life is like that, no place is perfect. we have to make decisions and my decision to come out here in california this week was a good one, but you pay a big price for living here. factor tip of the day. check out our website and we would like to spout off from the factor in from anywhere in the world. at any time if you wish to opine do not be a lemming or in life. i will see on the leno program tonight. we should have a good time there. i'm bill o'reilly and the spin stops here in l.a. because we are definitely looking out for you. dictator. i'm the president. ultimately if mcconnell or boehner says we need to go to catch a plane, i can't have secret service block the doorway. >> sean: no, you are not a dictator but you are not a leader either, the fact of the matter is, the sequester, that was your idea and put back in place way back in 2011 which leads me to my next question. what have you been doing the past two years? we have heard all your prophecys and what will happen but why didn't you do something to stop them. here at hannity we think we found the answer to the mystery because the president has been busy very, busy with important other things. watch.... >> congress allow,000 meat cleaver approach to take >> all of this will cause a ripple affect. >> you look sharp. >> you haven't seen me naked. >> we're going to keep it that way. >> the longer the cuts are in place the more damage to the economy. >> congress might allow a series of immediate, painful, arbitrary budget cuts to take place. no one in known in washington as the sequester. >> sean: few moments ago he signed an order to begin the sequester cuts. joining me to react his old boss's to avoid this mess, former chairman of economic advisors, austin is back with us. president panic, doom and gloom, i thought he was going fix this mess. we can cut $44 billion out of $3.5 trillion. >> beam me up scotty. >> i never took you for the jealous type. the show at the oscars and now you want best editing and best acting. he has good drum. i'll give you a prize. what do you want? >> sean: we're going to cut poor kids or disabled kids. this is what he said, on military, readiness, education, energy, early education, border patrol, airport security, doom and gloom. wait a minute, here is the question.... >> you change your tune on me, sean. i was here three years ago. the summer of recovery which you love to mock, you were willing to blame every traffic jam in america on the repaving of roads on the stimulus. now when we're actually going to cut a bunch of programs. >> we're going to cut military readiness. >> now you don't want to do it. >> how much was money did this president spend in 2008, you know the answer to that. how much did he spend? >> he wasn't the president in 2008. >> sean: excuse me, 2009. how much did he spend? >> he spent only a small amount more than was projected. >> sean: how much? >> it barely more than what was projected. >> sean: how much? >> barely more than what was projected. >> sean: here is the thing, spending has gone up 20% almost across the board under obama in four years. we have $6 trillion new obama debt, 20 million in o food stamps, one in six in poverty. wait a minute -- this year we are going to spend about the same probably more than we spent last year. explain to america how that is a cut. >> wait a second. you you are that the congressional budget office has said over the last 18 months that the deficit has shrunk faster than any time in the history of united states. government spending.... >> sean: if we're lucky is under a trillion. you are not answering my question. this is important. are we going to spend more money than year than last year or about the same? is that the average amount we are going to spend? >> significantly less as a share of the economy. >> sean: because we're going spend about the same. it's impossible to inflict this much pain of $40 billion. >> it's about the congressional budget office says it will cut the growth rate of the u.s. by .6 'you can say small or big but, did .6% you can say small or big. >> sean: next four years are going to be the republicans fault and the debt is republicans fault. >> remember the recession. we were at the edge of a depression. >> sean: is it immoral, i think it's immoral, i'll ask you to borrow $6 trillion in four years because he accused bush of being unpatriotic and irresponsible for $4 trillion over eight years. >> it was unpatriotic in a boom to run a deficit. if you are an emergency. >> sean: he didn't say that. >> yes, he did. >> sean: no, he did not. >> you have to remember this. >> sean: here is the question. >> you played the one snip etd. >> sean: wait a minute. he cut the deficit in his first term in half or no? >> he is about to. [ laughter ] >> sean: first term is over austan. >> look it was projected to be $1.3 trillion. it's going cut just in half that is what the cbo projects. it would be easier if republicans were willing to do a bargain. >> sean: didn't they offer him authority this week and he rejected it? >> no, not exactly, that was only the discretionary part. >> sean: if they want to cut social security and medicare. they should prosecutor it. where is the president's budget. we haven't seen a democratic senate budget in four years. they proposed it. >> sean: i want to read it. can i download it. >> yes, you can. it's on the office of management and budget's website. >> sean: i'm checking. austan, fox news alert, charles manson is still in jail as of this hour, we're going to watch it closely throughout the evening. >> my daughter had a bloody nose in school today and i'm blaming the republicans. >> sean: probably my fault. probably my kid, go ahead and blame him. all right. austan, and the president is hoping his doomsday present dikth really happen. charles krauthammer will weigh in and james carville is back, why he thinks the democrats are going benefit politically from the, quote, drastic budget cuts, but i'll be sure to remind him it's obama's idea. and benjamin carson will weigh on the gridlock in d.c. and attempts to intimidate bob woodward and other media officials. with hotwire's low prices, we can afford to take an extra trip this year. first boston... then san francisco. hotwire checks the competitions' rates every day so they can guarantee their low prices. so our hotels were half price. ♪ h-o-t-w-i-r-e... ♪ hotwire.com

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