and we have a debt problem. and we have to pay our bills. all right, but we re borrowing 46 cents of every dollar. the deficit is the symptom, it is spending that is the disease. i mean, over the last ten years, federal spending has almost doubled in the economy and only increased about 15 to 16% and working families, they have the income increase at all. it is a spending problem. and right now, the president s taking spending from 20% of the economy to about 25 and it s on its way to 40. i mean, at this spending trajectory, working families are going to have tax rates that will make france s new socialist president blush, can t do it. congressman, just heard the chairman say i agree maybe by working families and mr. chairman, we re going to agree that we need to raise the minimum wage for working families so that they can have and earn more money and that s something that i think that we can agree upon, what i d like
and we have a debt problem. and we have to pay our bills. all right, but we re borrowing 46 cents of every dollar. the deficit is the symptom, it is spending that is the disease. i mean, over the last ten years, federal spending has almost doubled in the economy and only increased about 15 to 16% and working families, they have the income increase at all. it is a spending problem. and right now, the president s taking spending from 20% of the economy to about 25 and it s on its way to 40. i mean, at this spending trajectory, working families are going to have tax rates that will make france s new socialist president blush, can t do it. congressman, just heard the chairman say i agree maybe by working families and mr. chairman, we re going to agree that we need to raise the minimum wage for working families so that they can have and earn more money and that s something that i think that we can agree upon, what i d like
deal. trace? trace: thank you, ed. there is mixed news on the economy. the government reports consumer spending barely rose in october although americans had the biggest income increase in seven months. that could mean more spending during the holiday shipping season. but the number of people seeking unemployment benefits went up slightly. the labor department reports an increase of 2,000 but the total number of claims is still below 400,000. and the four-week average following to the lowest level since april. there are disturbing new details in the ongoing sex abuse scandal at penn state. the suspect now accused of abusing even more children. even while he was under investigation. it of trepidation, not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working,
banks and political figures in their culpability, very little to back this up can we were taking on more than we could chew and we knew it. guest: what is very good, from all the revise we have not seen it yet, but from all the reviews they are making the point, and it is valid, that economic decision has moral consequences whether on a personal level or whether it is on a legal of government, or on business. they have moral consequences. my dad would never buy a car, never buy a house unless he had the money but the neighbors were buying bigger houses and bigger cars, with no income increase. there are consequences. neil: but taking nothing away from that as they try to go over the order of events and how everyone reacts we were part of
the president wants to unionize security and experts said it s hamper to the security in airports. this is a disaster. wayne is right, don t blame lobbyists. blame crooks taking the bribe. cheryl: ethan but hold on. at the end of the day the union leader says look, we re angry, woe is us. but at the end of the day the unions have been protected under the administration since january 2009. look, i mean, first, you need to remember richard trump is not talking about the union members. he is talking about the average working americans, okay. cheryl: who are trying to get in union but that is another segment. hold on. look. if you look at the text of the speech, average working americans have seen the income drop by $2,000 in the last ten years. meanwhile, the economy expanded by a sixth. and the top .1% have had the income increase by 5%. that 25%. it makes me mad. they didn t get a lot because