members go home, they ll get an earful from the people whom they supposedly represent and they ll come back and vote no. so, in the sense they are being held hostage to the fear of public opinion. all right. we wish we had the other congressman from new jersey, he wasn t able to make it. appreciate you joining us today. kelly. as the house rules committee hashes out the procedures for tomorrow s vote on health care reform, what about the overall price tag of the proposed reform? the congressional budget office said earlier this week, that the current bill, will cost about $940 billion. and reduce future federal deficits by about $138 billion. over the next decade. but, what will all of this mean, for ordinary american taxpayers? joining me now, is fox business network s tracy burns, good to have joining us, and what about this, will this cause problems for taxpayers, out there? if it is passed? look, if you start tallying up the increases in taxes, it is
and the government owns 80% of them and we d take a financial loss if we talked away, right now. julie: with the massive bailout you talked about, pumped into fannie mae and freddie mac, the question is, are they just too big to fail. well, i mean, we heard, you know, our fed chairman saying the other day, we have to stop this notion of too big to fail but these guys are big and we own 80% of them, on paper, we would take a loss, the taxpayer can t afford to do that now and these things need to be liquidated slowly and succinctly and smartly, not what we have soon happen this far down in our government, they need to think it through and do it properly otherwise it could tlohrow a lo of gyrations into the market. julie: tracy burns from the f fox business network. thank you.
the increases in medical costs because of the health care reform, in addition, to all of the taxes that we re going to have to pay, and that they are going to have to pay, sometimes double because self-employed people report their businesses on the personal income tax returns, and they get hit doubly hard and forget job creation with health care reform. tracy burns. thank you very much. turning to international news now, president obama sending an on-line new year s greeting to the people of iran, the holiday marks the arrival of spring and the beginning of the iranian calendar and tension over tehran s nuclear ambitions the president says the offer of diplomatic dialogue still stands. president barack obama: the international community, the u.s. acknowledges your right to peaceful nuclear energy. we in sus only that you adhere to the same responsibilities that apply to other nations. we re familiar with your grievances from the past and we have our own as well. but we are prepar
julie: they are the american top two mortgage finance companies and are also at the center of the collapse of the nation s housing market. and, now some republicans in congress say they want to phase out fannie mae and freddie mac. over the next four years. fox business network s tracy burns joins us live, all right, so they were at the center of the mortgage melt down and now there is a plan from g.o.p. members in congress to phase them out within four years. is that even possible. it is a grade yes idea. look they grandiose idea and they want to redo the housing finance market overall and fannie mae and freddie mac were in the center of the collapse the last few years and they are part of the secondary mortgage market and you go, you get a mortgage from your bank, fannie mae and freddie mac buy that mortgage from them, and free up cash from your bank so your bank can continue to go out and make loans and that was part of the problem. threw money out there, simply
new york city. tonight, what is the future of american politics? we re gonna be talking to two high school seniors who aren t just planning to go to college next year they are hoping to become elected officials. liberty council president matt stay better on efforts of educators in texas trying to rewrite history by eliminating religion and patriotism from textbooks. fox business networks tracy burns, elizabeth mcdonnell and chris carter on the future of jobs in america. rock and roll hall of famers the ventures will be jamming with the little rockers. [ applause ] mike: for republicans like me whose political point of view is right of center it is easy to find ways to disagree with the administration. but it is not helpful to our country s future to automatically and robotally speak against everything the other roboticly speak