weeds. we are tossing out phrases like, the vice-president said the republicans want to gut medicare. if you take a look at the republican house budget plan, which is the cheapskate of all budget plans out there, we are spending $503 billion today tcalls for spending $855 billion 10 years from now, 3% less than president obam a. so if that is gutting medicare, you know, i don t get. it the language on the in theic party is scare. don t engage on the substance. the president himself refuses to engage. you may not know this your viewers may not know this. there is a statutory responsibility for the president of the united states to present a plan if the actuaries say over the next 15 years, medicare is going to be go belly up, if it is going to fall out of fiscal balance, the president is obligated within 15 days after we release our annual report and if we say this, he is obligated
we are not down in the weeds. the vice-president said the republicans want to gut medicare, by cutting spending. if you take a look at the republican house budget plan, which is the cheapskate of all budget plans out there, today, we are spending $503 billion on medicare. it calls for a spending of $855 billion on medicare, 10 years from now. that s 3% less than president obama proposes. so if spending 3% less is gutting medicare, i just justin acri don t get it. the president himself refuses to engage on the substance. you may not know this your viewers may not know is a statutory responsibility for the president of the united states to present a plan, if the actuaries say, over the next phene 15 years, medicare is going to go belly up, if it is going to fall out of fiscal balance, the president is obligated within 15 days after we release our annual report and if we say this, he giobligated
i m sorry. it s a time for bipartisan legislation that will protect you and your working family. they re working right now on a major tax increase. they are trying to protect you from it. that s what the spin is, but i always watch the other hand, what else is going on? they say it has a price tag of $855 billion. well, is that even true? what s in this bill? republican congressman jason chafits joins me now. hey, glenn. fired up. ready to go. lees, don t say that. [chuckles] jason, first of all, $855 billion, is that counting the would-be tax increase? roughly just under $550 billion of that scores, according to the congressional budget office actually accounts for the taxes, about $850-plus billion. so $550 of that is if they raise
i am sorry, time for bipartisan legislation that protects you and your working family. they are working on a tax increase to protect you from it. that s what the spin is, i always watch the other hand. what else is going on? a price tag of 855 billion dollars. is that even true? what is in this bill. republican congressman jason chasen joins me up. hello, glenn fired up ready to go. jason, 855 billion is that know counting the would would-be tax increase? roughly about just under 550 billion dollars of that scores, according to the congressional budget office actually accounts for the taxes. about 8cent 0 billion .
senators to ask that question. whose idea was it? i don t think and the irony here, and senator landrieu made this point, as well there, are millionaires out there who say thank you, i don t need it. i m more worried about the kids of this country than giving me a tax break i don t need. i can t spend it. thanks very much. that s what warren buffett has said, bill gates, you got many millionaires saying it. we are giving some of these guys again, ken, this is an ap alert related to what senator sanders was discussing. the federal budget deficit according to this new information rose to $150 billion last month. that by the way the largest number and balance on record pnd the government s deficits are set to climb higher if congress passes that tax cut plan. we know that the estimated cost is $855 billion over two years,