This is a rush transcript from "The Five," January 7, 2013. This copy may not be in its final form and may be updated.
ERIC BOLLING, CO-HOST: Listen to staunch Obama supporters voiced some buyers' remorse when the reality of tax-and-spend liberalism finally hits home, aka, your paycheck. Check it out.
Quote, "My boyfriend has had a lot of expenses and is feeling squeezed right now, and having his paycheck shrink really didn't help,:" wrote, Democrattotheend.
Or how about this one? Blueindyblue wrote, "Many of my friends didn't realize it either. Our payroll department didn't do a good job explaining the coming changes."
Well, congrats, liberals, you bought four more years of Obamanomic -- spend, tax everybody more and more, spread some of your wealth around.
Take the food stamp, for example. Did you know Obama broke the record previously held by Obama who broke the record Obama formerly held.
Bottom line -- folks, we spent $100 billion on food stamps last year. Money well-spent say the lefties. Money well-spent, look at some of the ways welfare recipients have been spending your hard-earned money -- strip clubs, liquor stores, iPad purchases.
BOB BECKEL, CO-HOST: Please.
BOLLING: We'll throw it around the table. I'm going to start with Kimbo.
I mean, it's ridiculous. How much waste in the system if they are spending this kind of money in these places?
KIMBERLY GUILFOYLE, CO-HOST: Well, they don't even catch half of it. So, imagine that. It's very difficult to try and push -- we need to follow everybody around and they have to rely on people that reported -- tell on other people, snitches goes snitches because this is ridiculous.
How are you helping people to move forward if we're just keeping to increase the food stamps? How about finding people jobs? How about education, other ways so that they can help themselves and their families out of poverty?
And, no, Bob, I'm not talking about the simple moms with two or three kids, et cetera. I'm not talking about feeding children or feeding families.
I'm talking about abuse in the system, people who fraudulently apply and abuse the system.
BECKEL: Those are very titillating facts about strip clubs. Do you have any -- does anybody have facts about what percentage of people who use and abuse like that?
BOLLING: No. But estimates have been 25 percent, 30 percent of food stamp spending this -- Hanks Saloon in Brooklyn, the Blue Door video porn shop in the East Village.
BOLLING: The Anchor, and Soho lounge, the Patriot Saloon in TriBeCa, and Drinks Galore, a liquor --
BECKEL: If I were to list food stores where people went to buy their food, I probably could go on for years saying it. I mean, it's nice thing to bring it out and makes it exciting, it is ridiculous. Food stamps are needed. Most people do not abuse food stamps. Most don't that need them.
BECKEL: And, by the way, the paycheck issue that you refer to in the two or three twits or tweets, whatever you call them -- it is -- first of all, you underestimate the American people intelligence. When they knew they were getting a cut in payroll taxes -- first of all, it's not much money, when rates back up.
And it is -- first, it was cut, right? When Obama did this at the last minute.
BOLLING: The point of that was, Democrats never saw the paycheck cut coming and now, they got to think, oh --
BECKEL: You often made it sound like, everybody in America is seeing this massive pay decrease or tax increase when in fact it's 2 percent of the payroll, and it's a small amount of money. And so, don't use it -- don't use it as if Obama raised their rates.
BOLLING: Two percent of everyone.
BECKEL: Two percent of FICA.
DANA PERINO, CO-HOST: Right.
BOLLING: Two percent for everybody.
Dana, President Obama beat his record from last `12, beat '11, which beats '10, which beat '09. When George Bush left office, I think the number was
$39 billion in food stamps. I think his last -- 2008, I think we spent $39 billion. That's hundred billion dollars.
PERINO: Let's say that everybody needs that and you have "x" amount, like says, 15 percent fraud, OK? Fifteen percent, however much that figures into. The thing is, again, we're not as a country talking about how to help people then to get off the system and on to a more sustainable lifestyle to be able to take care of themselves.
When you opened -- I mean, you talked about an article when President Obama is quoted by Boehner as saying he said to him, we don't have a spending problem. The White House has not backtracked on that.
But Obama has backtracked on something, Medicaid cuts. He was willing to do $110 billion in cuts and he is no longer going to. And here's the reason why, I think it's just so interesting. Policies have moved so far left that President Obama was admitting that he could not bring his left his Democrats to the table on spending cuts. That is why we're going to have another fight on this in February.
BOLLING: Greg, if things were getting better, President Obama keeps (INAUDIBLE), the economy is getting better, he's created all these 1.4 million, or 1.5 million jobs, whatever number, why do we have to increase so much spending on food stamps?
GREG GUTFELD, CO-HOST: It doesn't make sense. When he says -- he says we don't have a spending problem, he is right. We have a mental health problem, because only insanity would explain a person saying that we don't have a spending problem.
I want to go back -- I haven't said anything for a while -- the tweets, OK?
This is my twisted metaphor -- voting for Obama is like eating a pint of Ben and Jerry's while watching Lifetime in your sweats, because the sweats don't have elastic. So, you don't feel the consequences of you eating the ice cream.
Then the next day you get up to work, and you put on your jeans, and you can't get them on because you're fat pig.
So basically voting for Obama is eating ice cream in your sweats and the taxes are you trying to squeeze your fat butt into your jeans the next day.