welcome back. sean, are you how doing? sean: we have to look at this through the prism, now s&p is saying there s a chance they will downgrade america s aaa rating with moody s, and the imf says china is going to take over our economy in five years. let s look at the he dia hype, obama s scare at the media hype, obama s scare talk and the coverage. this debt crisis in washington is getting very scary. speaker of the house warning yesterday economic catastrophe. president obama for the first time yesterday saying social security recipients in august may not receive their checks. can you tell the folks at home no hart what happens the social security checks are going out? republican leaders have refused to consider tax hikes now the president says if there is no deal he can t car began guarantee social security checks will go out.
i don t even though the guy. i can t make eye contact with him. i m not allowed. sean: karen hanretty is here. he s a contributing editor jeffrey lord is here way is the best deal for the republicans here? what should they do next? cut, cap, balance. i like newt gingrich s as well. we got to get locked in now. you cannot walk away with even president reagan got burned about this. this is a battle royale for the future of the country this is not about right now. we 10 to treat these things like political super bowls who is ahead, who is behind this is the long term of this country. this is a very big deal. sean: it is also a moment of truth for the republican party. they ve got to step up, hold firm. i m saying vote for cut, cap and balance. let the democrats and the
like a game. listen to the terminology used all night here who is going to blink first. that s the problem. it is like two jocks fighting. sean: no, the difference is that you have two very distinct visions for the country. and i gotta tell you something, our kids are gonna be burdened with debt and a deficit they will never overcome. that is right. we are going to decide in the future in terms of whether we are going to be a capitalistic country, al country or talking about people coming entrepreneurial country or talking people coming into your house telling you what kind of lightbulbs you should have. this is setting the premise for this hiring all these people in washington, d.c. to oversee this stuff. it seems like an actual contractor who came in to raise my ceiling. it feels like it is disingenuous on some level. political posturing. people positioning themselves to get the white house. sean: i think this,hñ is abot principle too.
like a good credit history. former fannie mae chairman called on their friends and congress friends in congress, frank, dodd, waters and meeks served as their champions in congress. when others raised eyebrows they responded forcefully. let me let you in on a surprise, some people don t want new business. they don t like the success that you have accomplished by putting people with decent roofs over their heads. some people don t like that. i don t see anything in your report. mr. chairman, we do not have a crisis at freddie mac in particular at fannie mae under the outstanding leadership of mr. raines. this is about the political lynching of franklin raines. sean: democratic economists serving serving in the clinton and obama administrations did the same.
willing to vote for? i think people are willing to vote for politicians who say here s a solution to the problem, let s move on. let s not put the nation s economy at risk by allowing the debt ceiling to stay in place and our debts to run over and the economy, the recession goes away. stop going back sean to what you don t like about president obama. sean: all i ve heard for three years is president crybaby blame bush for all his problems when he begged for this job. campaigned for the job. now he s such a crybaby, petulant, arrogant, gets up and complaints that ronald reagan wouldn t be treated this way i have news for him, he s no ronald reagan. at this point in reagan s presidency, he inherited a far worse economy. he we were in the middle of a recovery by this point. you are calling him president crybaby. you are going back to things that happened years ago. and you are comparing ronald