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Important as the long-term with our economy. it s we are facing a situation with these deficits that in three or four more years, the deficit s going to be down to 600 or 700 billion dollars a year which is an enormous amount of money and then we re going to have another recession and it s going to go up to 1.5 or even more trillion dollars and we re not going to be able to deal with it and if we have inflation which we re going to have at some point we won t be able to pay the debt service. and now it s in the long run we ll be dead with his policies and that s where we are now, we ve got to deal with the long run and forget about the short-term. brenda: and john, that s actually only one more quarter of negative gdp we ll be in recession? sorry about that. all cuts are good as far as i m concerned, but a meat ax is a little bit of exaggeration, this is more like a butter knife that these cuts are so small, there s nothing there and he what i would like to see is the government ....
Gynecologist or specialist or something, you ve got to wait six weeks and that s what will eventually happen. brenda: john. to gary s point perfectly, very quietly last week, post-election, the government announced that medicare had cut their subsidy of reimbursement for 4 million diabetic seniors where they reduced the reimbursement by 66% and they reduced the amount of companies that are allowed to supply these supplies from over a thousand to 15. so the government created a quasi monopoly, an artifically low price and seems like they re cutting the costs to help pay for the stuff in obamacare, but what really is going to happen is what gary said. this is going to cut off people s access to the stuff they really need and like gary said again, doctors at some point are just going to not ....
Potential of the u.s. treasury. john lay field. automatic cuts may not be the best way of cutting spending, but they cut spending, is that good? yeah, but it s nothing. brenda, we ve got to look at this. what jonas is talking about is spot on. these guys ran on tax increases and what they did was extend the bush tax cuts, they ran on spending cuts and having to over the next decade, we re running trillion dollar deficits, by the cbo and president obama s budget in ten years from now talking about cutting 1 trillion out of that 48 trillion dollars. this is absolutely nothing. it doesn t even move the meter. brenda: well, steven, in the short-term this good or bad for the economy? in the short-term it clearly is not good. the economy grew at a negative rate and if it s in the last quarter, if it does at that two more quarters we re back in recession, but the short-term is nowhere near as ....
And that s, that s at the same time that unions have gone down to indeed, single digits. when you have unions, you have higher pay. when you have higher pay, you have more consumer confidence. people spending money that s good for the economy. well, john, union membership plunges when it s voluntary, we ve seen that. yeah,he unions were set up for the safety and security of the worker to get him some safe work conditions to look out for them. and now we have the unions out this doing anything they can to get more members in and i think that gary was nice and politically correct saying it s a power grab, but come on, this is a money grab. they want more members so they can shake them down for more fees and then the big fat cats on the top will get the big dollar salaries and line their pockets and that s all this is about. i mean, for unions to say they want pot to be legal, that s so they can hire as many illegals as they can to run those pot farms and shake them down to be fair ....
a power grab turning into a money grab? unions launching a 14-city tour pushing for immigration reform while pushing states to legalize marijuana and a leaked memo showing big labor is considering suing members who don t pay their dues. they say they re looking for the best for america, but john layfield, you say this shows otherwise? yeah, absolutely. they re on life support and went from about 40% and down in single digits right now and that s why right to work states are getting the new companies, these guys are going the way of the dinosaur and this is a money grab. jonas, you say there are berths to their tactics. in fact, these are better than the other 50 years of tactics and trying to get better pensions and the companies are going bankrupt and leaving the country. and you re talking about ....