GOOLSBEE: He said in case of an emergency.

HANNITY: All right, so we now have $16 trillion in debt, he inherited $10 trillion in debt, and now the country, you are saying, is on a better fiscal path. What can we expect in the next --

GOOLSBEE: Sean --

HANNITY: Wait, wait.

GOOLSBEE: When he came in --

HANNITY: Wait a minute. He said he would cut the deficit in half. He said he would have shovel-ready jobs, fewer Americans working, $6 trillion debt. Here's my question, what can we expect in the next four years if he promised to do these things and the opposite happened?

GOOLSBEE: No, Sean.

HANNITY: Yes, he did.

GOOLSBEE: No. You know that you are my friend and if you come to Chicago, I'm going to take you to a Bears game. I'm going to fight back against that Packers propaganda that Greta has been giving you, but on this one I think you are missing the mark a great deal, Sean.

HANNITY: He said he would cut the deficit in half. He didn't do it. So why should we believe him this time?

GOOLSBEE: Number one, you know that in 2010, as we have discussed, the deficit was coming down --

HANNITY: That was recovery summer.

GOOLSBEE: And the Republicans and the Democrats agreed on a joint basis to extend all the Bush tax cuts --

HANNITY: Obama did that.

GOOLSBEE: -- knowing perfectly well the deficit would remain high because we felt that we need to do that.

HANNITY: All right, I think the best excuse the president has when he blames ATM machines and kiosks and the tsunami and Fox News. I think those were his best excuses. I don't know why I like you, Austan, but I do.

GOOLSBEE: Sean, 4 million jobs. We've added 4 million jobs in the last two years, that's faster than George Bush was adding jobs.

HANNITY: Fewer Americans working, $6 trillion in debt, more Americans in poverty. Sad. But alright Austin, you think we are better off. I disagree.

GOOLSBEE: We're heading the right way.

HANNITY: I know, 2010 was recovery summer too. We were heading in the right direction then. I got to go.

GOOLSBEE: I didn't say that.

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