president obama. it s not even close. more than $5 trillion under bush, mostly thanks to unfunded wars and tax cuts for millionaires. new policies under president obama have added $1.44 trillion with the deficit. why all of this obsession with the deficit now when bush was running away with two unpaid-for wars and driving the deficit deeper and deeper in the hole. you know, reverend al, i m so glad you pointed that out. i remember how we got into this sea of red ink. it hadn t been that long ago. bill clinton had balanced the budget. we had a budget surplus. and then, george w. bush came into office and threw all of that overboard. tax cuts for the rich, two wars and, during that period, dick
bill: joining us is janine turner in fort worth, texas. do you think alternative energy is a good thing? let s start. there i think alternative energy eventually is a good thing. we have to have a reasonable transition. we didn t blow out all of our candles until we had dependable electricity. and we don t have anything reliable. i mean, you know, he jokes about the telephone and ruth ford b. hayes and yet the telephone is not solyndra. so i can i throw out some statistics here that i think are really interesting? bill: sure. if you don t mind i think this is fascinating. 24 billion barrels of oil recently discovered in north dakota which could exceed almost 500 billion barrels of oil. sitting on 1.44 trillion barrels of oil and 2.7 thrill cubic feet of natural gas that can bring in $18 trillion worth of royalties to the u.s. government which could pay off our debt. i mean, we have all of this.
bill: joining us is janine turner in fort worth, texas. do you think alternative energy is a good thing? let s start. there i think alternative energy eventually is a good thing. we have to have a reasonable transition. we didn t blow out all of our candles until we had dependable electricity. and we don t have anything reliable. i mean, you know, he jokes about the telephone and ruth ford b. hayes and yet the telephone is not solyndra. so i can i throw out some statistics here that i think are really interesting? bill: sure. if you don t mind i think this is fascinating. 24 billion barrels of oil recently discovered in north dakota which could exceed almost 500 billion barrels of oil. sitting on 1.44 trillion barrels of oil and 2.7 thrill cubic feet of natural gas that can bring in $18 trillion worth of royalties to the u.s. government which could pay off our debt. i mean, we have all of this. why don t we harness both of
bill: joining us is janine turner in fort worth, texas. do you think alternative energy is a good thing? let s start. there i think alternative energy eventually is a good thing. we have to have a reasonable transition. we didn t blow out all of our candles until we had dependable electricity. and we don t have anything reliable. i mean, you know, he jokes about the telephone and ruth ford b. hayes and yet the telephone is not solyndra. so i can i throw out some statistics here that i think are really interesting? bill: sure. if you don t mind i think this is fascinating. 24 billion barrels of oil recently discovered in north dakota which could exceed almost 500 billion barrels of oil. sitting on 1.44 trillion barrels of oil and 2.7 thrill cubic feet of natural gas that can bring in $18 trillion worth of royalties to the u.s. government which could pay off our debt. i mean, we have all of this.
overall economy is at the lowest level. if you look at the chart of president obama, the extension from 2009 to 2017 they are going to cost $1.44 trillion as opposed to the bush policy. how can you say it s a spending problem, not a revenue problem. we have the lowest share of revenue. 5.07 under bush. let me explain it for you. we had a recession. we are in a weak economy. we have a high unemployment rate. when you have that, you have a reduction in the revenue that s going to come in. the revenue is a leveraged function of the economy. if we have policies to encourage that. we have a reversion of the revenue. the spending is at a higher level. it s going to continue to grow. in the discussions, the democrats were not willing to address the drivers of the