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Frankly i think people have a right to be skeptical. jonas, it is an election year. that s a great point, i have to say. the more i worked on that, you know, pushing off the next budget isn t such a bad idea. it s going to be a tough one. there s going to be spending cuts and tax increases but investors don t want to see that this early in the recovery. in europe, they re trying these cuts and these increases sooner and their stock markets are underperforming ours and invest others don t us to solve the deficit problem in the next year. long term definitely. but in the short run, we re a little shaky still to start kicking in with the major tax increases or major spending cuts. i would think, jonathan, investors would be nervous because they re not seeing the budget, excuse me, and they are, of course, worried about the financial stability of this country after what happened in europe. they re petrified, cheryl. the deficit is a kitchen table issue now in a way that it hasn t b ....
Out there? of course we know that. that s not going to change. what democrats are trying to do is in this election year, not give republicans the political theater of talking about the deficit as if it s obama s creation. remember, it s a deficit that he inherited and they re not going to give republicans the satisfaction of claiming that it s all his responsibility. he inherited something and then added a lot more to what he inherited. look on that one, jonathan. and there s that thought we need more safety nets and need more government spending. we need more regulation. that kind of philosophy and i think you have to give it to the strength of the tea party movement for kind of putting a bit of brakes on that, cheryl. a lot of democratic lawmakers are saying wait a minute, do i want my name associated with the big spending government boondoggle? i want to bring in wayne rogers. one of the points is the consumer is nervous. if your tax cab driver talking we re so much in d ....
Investigation. see no evil, hear no evil, speak no evil. nancy pelosi and company refusing to release a budget so the face s debt isn t front and center. why d.c. s shenanigans could kill the recovery. and stripping b.p. of cash. all of our legitimate responsibilities. now, strippers are looking to cash in on the oil spill disaster claiming it s killing their business. why you could end up footing the bill for the loss of lap dances. your money, your life, your show to stay ahead of the game. cash in in starts right now. a new government report showing 40% of income tax filers are paying no income taxes at all. and are getting money back. and this has someone here saying enough is enough. you want america s debt mess cleaned up, it s time for all americans to pay up. hello, everybody. i m cheryl casonni and welcome ....
To cashingin . our crew this week, max beres and tracy burns and joining us for the first time here in our new york studio, hello to our good friend christian dorcy from the economic policy institute. john will be back next week. he s hobnobbing in south africa at the world cup. poor, john. welcome, everybody. jonathan, did we just find a way to solve america s debt crisis do you think? well, i mean, cheryl, 70% of its taxes are paid by such a small few. 20% of filers and as you pointed out, 40% of filers not only pay no taxes but actually get money back from the government. we need to not only stop the spending stuff, the entitlements but get rid of this progressive marxist notion from each according it his ability, to each according to his need and spend now because don t worry, some rich guys down the hill will pick up the tab for the rest of us. that s the philosophy that reins and that s what needs to end. ....