Populist Uprising

" Some argued this recovery plan is a case of irresponsible government spent. That it somehow to blame for our long term deficit projections. And that the federal government should be cutting instead of increasing spending right now economists on both the left and the right. Agreed that the last thing a government should do in the middle of a recession is to cut back on spent."

" Edit your America tonight that was Barack Obama speaking earlier today about his plans to continue to spend your hard earned tax dollars. "

" Now what I didn't hear -- that speech is how we plans to pay for all of this. And joining me now with reaction is the former house majority leader Dick Armey who will be speaking at the Atlanta tax -- tea party tomorrow."

" Well thank you Sean brown and me don't know so let me get -- there are those that would say that this it's reckless irresponsible spending that's causing the deficits."

" Now. That we usually causes an emphasis should be at home try to figure back common now."

" Well let me say -- let me remind -- I've been studying economics. As a serious professional. Or as serious discipline. Since I was about forty years old. And I would tell you that the first person who would object to the Obama plan -- would be the lord John Maynard Keynes himself. I I want to make his part because they're selling this plan in and in McCain's. But let me give you three academic reasons why kings would object to the Obama plan walked. Canes talked about a baseline of a balanced budget. He said if a balanced budget. If you're in a recession you have a modest deficit for a short period of time then you pay it back in good times. He did not say that when you have an existing deficit. A 450 billion dollars which is people through the existing interest cost of your accumulated deficits that you pile another 170. 150 billion on top canes were not except that when -- or or reason number two. When he wrote the federal government was about 13%. The total GNP today it's about 25%. Are 24%. Of the GNP. The federal government is an already existing. Burden. On their private sector the cop -- should not be made larger well and then third. -- the federal budget -- is about 97%. Discretionary spending today it's about 78%. Mandatory spending there's no latitude. For the keynesian model."

" I -- but the he's saying just -- of first of all that that not every economist agrees."

" There a lot of economists and even the Congressional Budget Office numbers which we always talk about traditionally historically has been the gold standard. They're saying that this is going to lead to long term problems structural problems in the economy and they concluded we would have been better off had we done nothing. But he's talking about you know blaming Wall Street deficit spending government intervention that he's defending."

" And not everybody agrees with that actually there are those of us to believe cutting taxes and cutting spending and this time would be beneficial."

" Your thoughts this is a matter of fact he's very I in the best of the -- the Austrian economist. Would argue just the opposite our problem has been two decades -- too much too easy money. Too many foolish careless decision. That were made interest rates so low that we -- irrationally allocating capital. To less than highest priority purposes and that of course reduced role so the fact of the matter is. President Obama -- rude to my knowledge. Has never seriously studied the subject of economics and has never said anything. That I have heard that would lead me to suspect that he might have had any serious study of the discipline has just -- got it wrong."

" Well he -- only comes from the spread the wealth of philosophy but. I'd -- let me you're gonna be at the Atlanta tea party tomorrow on whether it be broadcasting live off from there and for those of you Atlanta -- hoping come. But I want we've been asking people to send in videos. But to us about their tea parties and --"

" Organizers and -- Freedom -- opportunity speak."

" I'm not the body can piggy bank here but congressman -- why are you going to the Atlanta event -- and what is your message tomorrow. What do you think of ways and things being let let me be very fair."

" I'm going to Atlanta because I was invited by the Atlanta organizers I don't know these people I've never worked with them before. And one of the things that the left to his truck as having difficulty comprehending here this is a bona fide American popularize it. Of real people nobody is managing this these are not played paid political operatives. This is not a union organized. Outfit this is it is real people -- out of their homes and organizing a protest against irresponsible government practices. Irresponsible spending and irresponsible taxation. And and worst of all. The inflation that is bound to ensue it reflects an America that understands economics. Better than its president. And it is not. Orchestrated by anybody this is not an acorn -- that. And these folks have -- show up show up on their own terms voluntarily. Without compensation. Because they care about their future."

" And you know something that the congressman was spending too much money we are -- from my kids' piggy bank and I'm going to find who how find out where that kid -- a brand new piggyback. All right but."