care proposal. sean: i was right. you were wrong. and of course there is no such thing as any death panel. sean: you wait. right now president obama is the one who is saying [ talking over each other ] sean: he s scaring old people i gotta go. i m willing to look at entitlements and anger my left wing base in order to get a deal [ talking over each other ] sean we take in 200 billion dollars money is not there. [ talking over each other ] sean: we have enough money. that is not true. sean you shouldn t say things like that it hurts your credibility. you think bernanke [ talking over each other ] do you think geithner that mitch mcconnell and john boehner who say we need a deal are just make just making this up? they are not making it up. sean: i m going to send you the numbers in an e-mail
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.
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
the bernanke is pulling no punches in his assessment of what would happen if a deal is not reached by the date of august 2nd. i think it would be clam outcome, create a severe shock that would have would effect the u.s. and global economy. the fault on those securities will throw the financial system into chaos. sean: joining me with unless of the day s events the author of the new york times best shelter courage and consequence karl rove. mr. rove, how are you? fantastic. sean: we appreciate you being here. let s start with the president. i m calling him president crybaby. walks out of this thing. does he expect that the republicans who ran against his economic policies were going to say, yes, sir, and walk out of the room and agree with him? smartly salute and do what he wants.
when they ballooned the balance sheet started to lead the way down in degrading the due diligence that normally gets done when you make a home loan. and he made a tremendous amount of money for himself. he also was very shrewd about buying off the academic community. about making sure he could co-opt his regulator. and that regulator would be a 98 pound weakling. sean: you described how they took it from hud and moved to congressional oversight. you talk about the incestuous relationship. an instance where barney frank got a job at fannie for a friend. then he look at his role in this or chris dodd s role. friends at countrywide getting sweetheart loans for themselves. explain the connection between congress and this these failing institutions. it was of crucial