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Measures to prevent the recession from becoming another depression, and at a time when millions of people are out of work, we ll continue to do what it takes to spur job creation while investing in a new foundation for lasting economic growth. but the emergency measures have added about $1 trillion to the decifit over the next ten years. as a result, even as we take these necessary steps in the short term, we have an obligation to future generations to address our long term structural deficits which hobble our economy and leave our children and grandchildren with a mountain of debt. that s why i ask congress to restore the pay as you go rule. this rule says that congress can t spend $1 on a new tax cut or entitlement program unless it saves a dollar elsewhere, it would help lead to the budget of the 1990s. in fact it was only by abandoning pay as you go that record surpluses turned into record deficits during ....
But if we want to grow the economy, we have to unleash the private sector. and every dollar that goes into government or every decifit that s created by government spending more money ultimately is going to be a burden on the private sector which reduces the capability to create jobs, grow businesses, have more innovation. bin laden bill that is a great point, does this government believe in the private sector, have you seen evidence of it? i have to say the jury is still out, but we need to have those people on capitol hill and president obama talk about growth and unleashing entrepreneurism, particular dle amongst small businesses and quit with all this let s just spend more money which we don t have. bull bill what s the chance this congress extends the bush tax cuts, currently set to expire in january of next year? well, i would say right now, it s not very likely, except we re coming up to a november election, the party in power is extremely unplor, if we had the vote today, t ....
The course of a decade. next, we ve been scouring the budget, line by line, identifying more than $20 billion in savings this year alone. we ve cut or eliminated scores of outmoded or ineffective programs and begun to reform our bloated contracting system. we ve also successfully challenged the custom in congress of courting favored contractors by approving weapons systems the pentagon itself said that it doesn t want or need. because in these hard times, we have to save where we can afford so that we can pay for what we need, the same way families do. finally, i have proposed a freeze in government spending for three years. this won t affect the benefits through medicare, medicaid or social security, and it will not affect national security, including benefits for veterans. but it will affect all other discretionary spending. my budget ends loopholes and tax giveaways for oil and gas companies and for the wealthiest 2 percent of americans, because we just ....
I ll save myself behind my black umbrella, a smart guy. bill: the haze did not stop lawmakers and they went to the punches next. lovely. i don t know what that parachute is doing on the ground, from ukraine, where they make up. martha: it is moments like that when you say, you know, we manage to pull it off pretty well and have a lot of fighting and debating and no eggs, don t need an up billy to go into congress. bill: and no smoke bombs. martha: schoolkids may not be old enough to pack their own lunches but are old enough to learn how to pack something else. a new law will require virginia schools to teach gun safety rules to elementary students and as you might expect, this has got folks fired up! meet eddie eagle, the nra s mascot and he ll offer his thoughts on gun safety to schoolkids. is this a job for the school system? that is our fair and balanced debate, laurie haas is a parent whose daughter is a survivor of ....
Things he talked about in the campaign and didn t mention that he would not be willing to cut taxes in the broader sense to those who make under $250,000. major, thank you very much. major garrett on a beautiful day outside the white house. and we have more news, breaking. bill: indeed we do, fox news alert, congress demanding answers on what caused the economic melt down. others asking as lawmakers are looking if lawmakers are looking in the right place, carl levin, democrat out of michigan, the senate hearing focused on one shop in particular, goldman sachs. the biggest elephants on wall street and spotlight on lloyd blankfein and the ceo will testify in minutes, expected to defend the bank before a feisty panel of senators. peter barnes is on the hill, fox business networks. good morning, what does the senate committee want to know from the ceo? reporter: bill, the official title of the hearing is the role of investment banks and the financial crisis, and, the senators say the ....