Cain: Democrats don't want to balance budget

This is a rush transcript from "Your World," March 21, 2013. This copy may not be in its final form and may be updated.


UNIDENTIFIED MALE: On this vote, the yeas are 221, the nays are 207. And the concurrent resolution is agreed to.


NEIL CAVUTO, HOST: All right, this might be as far as Paul Ryan gets. His budget blueprint getting the green light today in the House. It's a plan that would balance the budget, he says, in 10 years. Of course, it does not sit well with Democrats.

Remember this Rangel?


REP. CHARLES RANGEL, D - N.Y.: The so-called budget was the Republican platform. The president has won. And now they bring this back to table as though there was no election.

CAVUTO: Even under the Ryan bill, we're not cutting anything. We're cutting the growth of programs. We're not cutting anything.


CAVUTO: Congressman, answer yes or no. Do you think cutting spending should be a goal, yes or no?

RANGEL: Should I think cutting spending? Yes, it's how you cut it, of course.


CAVUTO: All right. To Republican presidential candidate Herman Cain.

What do you make of this whole debate and where we stand right now, Herman?

HERMAN CAIN, CEO, THE NEW VOICE: It shows the Democrats'hypocrisy.

Their hypocrisy is rooted in the fact that they believe in endless spending and endless taxation. They don't want to balance the budget. At least the Ryan budget balances for the 10th year, and then from that point going forward. They don't want to balance the budget. And here's why.


CAVUTO: You know, you're a businessman. I'm sure you didn't do balanced budgets much beyond a couple of years, but 10 years, I mean, really?

CAIN: I would agree with you.

I think, realistically, that it ought to be something closer to four or five years, because if you look back at the CBO projection 10 years ago as to what the national debt was going to be, they predicted $13 trillion. Well, they missed it by $3 trillion because it was $16 trillion.

Now they're talking about in the next 10 years, under the current scenario that we're headed on, it's going to be $26 trillion, which, according to my simple extrapolation, means it's going to be $32 trillion.

The Democrats do not want to balance the budget. And let me tell you one other reason that they're not saying, Neil.

CAVUTO: You don't buy their plan, the Senate plan. The closest we have I think is Patty Murray's plan, which doesn't balance it in 10 years, but does find some potential middle ground, the argument goes, between what Ryan is trying to do because he does after all put caps on defense spending. She puts caps on some other spending, that maybe in a weird way, there is a way to bridge this divide.

What do you think?

CAIN: I don't think they're going to bridge this divide.

CAVUTO: Really?

CAIN: Like you said.

Now, the fact that the Republicans control the House, people are happy that at least the Republicans, the Ryan plan, they're trying to do the right thing. It balances, even though they don't believe that it ought to take 10 years. Secondly, it defunds ObamaCare. You had an earlier segment that talked about ObamaCare.

CAVUTO: Well, that's a nonstarter, right, Herman? As much as you're not a fan of ObamaCare, but to defund it, how likely is that?



It's not likely at all. But, Neil, people on Main Street want to at least see people do the right things for the right reasons. And the rollout of ObamaCare has been such a disaster, businesses are dropping their insurance. Businesses are trying to get workers to work below 30 hours, so they don't have to pay the fine.

CAVUTO: Right.

CAIN: I get all kind of calls on my radio show where people are looking for ways to survive, like Betsy McCaughey talked about. And that's because ObamaCare is basically a big disaster. It's not doing what the president said it was going to do. It's not bringing down insurance rates. The rates are going up.

It's not providing affordable health care. A lady called my show today and said, where is that affordable health care I was supposed to be able to get out of ObamaCare? And she indicated, she is going to have to decide to pay the fine or pay the rent on her house.

That is an unintended consequence that I don't think a lot of people are going to put up with.

CAVUTO: Herman Cain, thank you very much. Good seeing you again.

CAIN: Thank you, Neil.