'Look Me In The Eye And Tell Me...': John Kennedy Grills CBO Director
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- čas přidán 8. 07. 2024
- At today's Senate Budget Committee hearing, Sen. John Kennedy (R-LA) questioned CBO Director Phillip Swagel.
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It's refreshing to see a witness who's actually answering questions for once
I like how he adds in that an increase in the deficit increases the interest due on the debt. Likeable guy.
💯. We got an answer for once. Very nice
It's because he doesnt have to plead the 5th. Like most other goverment witnesses.
I agree. He is very keen to answer Senator. Kenedy with his knowldege and experiences about our current national debt.
That was incredible. A gov't guy who actually answered questions, without saying thank you for the question, over and over.
When it starts with thank you for the question a big lie is coming 😂😂😂
Exactly 💯
"Thank you for the question" near-universally means "I'm not going to answer it"
Thank you for the question is just a way of running down the clock since these senators only get 5 minutes to ask questions.
The witness Mr. Swagel came in, answered the questions honestly and concisely. Bravo to this man.
That guy told the truth ….he will be fired
He's def an anomaly. I was so pleased how he answered directly and honestly. He's a fish out of water for sure .
lets hope not
I liked his responses
Smdh sad but true
At least the CBO director answers questions properly
He’s a (R) that probably helps. Although he is the same as the others with regards to this Admin. No experience outside of the Federal Government. EVERY job he has had has been for Uncle Sam.
Correction, he spent a couple years at the IMF and also in education. Still nothing in the consumer based economy, no private industry experience.
@@kingjamesgorden3 So, Phd, IMF, education, and the government sector. Sounds like more experience than most.
@@JoshSlinkard If you are comparing to this admin we have going right now yes. Most of them are based off ideology not quality. However, as we have seen and is continuing to be the case, hiring folks who ONLY serve in government proves to continue the cycle of both the bureaucracy and the government being self serving institutions, not ones that work for the benefit of We The People.
Remember when BIDEN said this would cost us ZERO DOLLARS
Remember when Trump said Mexico would pay for the wall,, lol you and I are paying for it!!
It's all that racist math. Lol
@tomjones2202...the American tax payers have always paid for our border walls. The only revenue the federal government generates is from taxes. Trump never said Mexico would pay for the wall. That lie was perpetrated by people like you because the left winged media told you that. Trump said Mexico would "indirectly" pay for the wall via renegotiated trade laws.
Because that is what they told him Biden does not know where he is
Trump increased the debt more than any other president before him combined. RFK 2024!
Stop sending billions to other countries.. take care of our country
Thats all well and good, but those billions are NOTHING to the debt.
Entitlements are driving out debt.
A drop in the bucket. Ukraine in total has received less than $200 billion in surplus equipment, while the cash is invested in American corporations. The Defense budget is $850 billion every year, year in and year out.
I agree and how much has been spent supporting ALL of the illegals crossing the border? Nationwide it's also billions of dollars so I agree stop supporting every country except the USA and I believe that would be a great thing for the removal of lots of debt
Can we get Kennedy and whoever this guy is to run our country for the next four years
It’s not just surplus equipment. Our optempo from our units here has slowed because we have shortages here. And total value is 550b, they just are “donating” this stuff at a decreased value because it’s been sitting in our warehouses.
Our units go to the range less, DEI more, while they get more in two years than Israel has gotten since 1948.
It’s not our fight, and most Veterans like me agree it’s not worth a war.
The man Senator Kennedy is questioning, Is an honest man. I respect him. Also refreshing, as it's not usually the case .
This witness is actually extremely grounded and intellectual...
And that, my friend, is how to get fired by Sleepy Joe and his band of thugs!
@@jimlaporta8573he can get fired now and rehired by Trump after.
I LOVE JOHN KENNEDY!!!!!!!
He’s so wholesome and folksy!!!😀❤️
@carriedillmann4455 I agree! Why couldn't we have had him as a president 24 years ago ❤❤
And the witness is awesome, too. What's really going to happen: Extreme inflation will reduce the value of the debt that has to be repaid. Runaway inflation will reduce the debt to pennies on the dollar along with savings in dollars. Some people buy gold or real estate to get out of dollars into something tangible.
"I enjoyed talking to you Mr. Director" Respect for an honest conversation
He gets people to walk right into a trap he set.
A national treasure.
The CBO director should be given a promotion. He is realistic and credible
fun fact. you cant afford to give him a promotion. the US economy is fucked!
Nice to hear a witness speak without the stall tactic, "Thank you for the question Senator"
Numbers don't lie. Math is finite, it's when you mix in politics is when it gets muddy.
that's how you tell if their lying "Thank you for the question Senator"
This is how politics should be done. A respectful conversation between two intelligent people, with questions actually answered intelligently and not dodged. Well done Senator Kennedy and Director Swagel.
Hardly a fully intelligent question by only focusing on the spend side of the equation, what about the income side and higher taxes?
@@jamesstevenson1296well, why talk about the money American citizens spend when the focus is entirely on what our government is spending using our tax dollars? That’s the job of these committees is to discuss what the government is doing not the American people. I didn’t ask for a war in Ukraine to be funded by my taxes nor the illegal immigration of millions of people who do not contribute to taxes and when this guy points out that my not only are my tax payer dollars being spent on things other than infrastructure and helping my fellow Americans, but they’re also spending my social security that a MAJORITY of Americans rely on after retirement to the point where I won’t see it….i guess I have the same questions as Kennedy solely focusing on where the hell they are spending our money.
Finally we have a man willing to answer questions and have a discussion like adults.
That witness is so clever and his explanations were clear and concise! So refreshing to listen to
Yep. The complete opposite of a corrupt, lawless lying Dem.
SENATOR KENNEDY YOU ARE AWESOME...❤❤🇺🇲🇺🇲
You will NOT cut our social security! I have never sucked off of the government once. I'm Cherokee Indian, yet I never wanted to be dependent on ANYONE, let alone government! But I have paid into social security for over 47 years, and I continue to work. That is MY money.
💯!
Truth!
Social Security is NOT welfare. You said that you have paid into Social Security for over 47 years and thats your money. People like to call it welfare to give then an excuse to steal it.
THAT IS OUR MONEY SMARTIE
Got to give the guy credit he was doing math from his head.
At least, the guy gave straight answers... there should be more like him at Washington.
Adding over 70thousand government jobs is making debt worse
The Left wants bigger and bigger government. Which is where a good deal of the jobs they take credit for have been created.
Since most people don’t listen to their opposite political leanings words they take credit where being scolded should happen
You mean the IRS spies checking to make sure we report our yard sale proceeds? Allowing the IRS full access to our bank accounts? 🤬
so frustrating.. literally ZERO value added
Yeah I understand that the government is the only place that they're adding jobs to. So when they talk about we've got more jobs we have created more jobs, they're talking about these jobs are
in the government. Not an industry, not in manufacturing, not in creating anything that continues to bring money in. Not any jobs and any type of production. We produce nothing all they are doing is adding jobs to government so therefore they need more tax money to pay more employees.
tell us whos doing that.
Social Security should’ve never been touched by politicians, it’s our money we paid into it in government has taken it. What else needs to be said………🤬🤬🤬🤬
They invested OUR hard earned money into corporations they formed or bought up and the companies they funded...revenues should have went into OUR pockets not the politicians
Its only a matter of time
first steps - eliminate all equity programs, eliminate all foreign funding (not even loans?!), eliminate all loan forgiveness, eliminate the vast majority of subsidies for welfare. boom. you got 2T/year right there. breaking even.
That is an eye opener conversation that those spending do not want us to see.
We never should have spent $5 trillion during the pandemic. We should have taken our medicine and climbed out of a severe recession rather than pump the economy with electronic dollars.
that and given hundreds of billions to corrupt ukraine ..
thank Tump
You mean during the fawchi virus?
@@jungojerry1658 Trump admin printed a record amount of money in 2020 and signed into law $2.2 trillion
You nail it with "electronic dollars." Exactly what it is.
Here is my idea....
The elected officials serving or retired, who voted FOR these spending budgets.....or estates, of those that may have died, are 100% sized, to pay for towards this debit, they voted for!
They wanted it, they should be the first to pay for it!
It's in the congressional record, as to who, voted for what so, it should be realitively easy, to implement. Those responsible, pay first.
Cut spending on all the spending to other Countries 😂😂
cut government budgets 10% and also fire all the agencies we do not need!
If you want a real example of how to deal with the country's debt, look no further than Argentina's President and what his done in his country.
How much do you think the 20 million illegal border crossers will cost over the last few years and the next ten years = Answer About a Trillion? of your hard working tax dollars.
Well I heard that the stuff that was still on the ground to build the wall was already paid for. That the president decided to give it away
And I'd rather spend money on my security, my family security then give it to Ukraine. Do you have security cameras around your home, do you have a fence up? people are willing to spend money for the security of their home and their safety. Which is good thing. Especially now that we have over 10 million people from over 1570 countries pouring, pouring into this country. Why should we help you Ukraine with their borders but not protect our borders? You were saying it takes a lot of money to put up a border wall how much money do you think we have spent on Ukraine protecting their border? I heard it said, there were only three states that have more people in it than the amount of people that have already come over our borders. And these are just the ones we know about. Before January it might be up to 20 million illegal people that have crossed who knows?
How about a bill or Constitutional Act that states Government cannot spend more than the previous year's taxes? Last year's tax revenue is this year's budget. Period! Who in America operates like this? Do you spend your neighbor's money? Government does. And who or what country ever successfully taxed themselves into prosperity? NONE!
excellent plan
It's just like if we tried to borrow money in our great grandchild's name. Even though my child is 16 and has not become a parent😅. Say three generations before they exist I'm borrowing money in their name. That's what the government does. But it's our children our grandchildren are great grandchildren that they're taking money away from and leaving them in debt. And another thing I don't understand, with people changing sexes, getting on testosterone or hormone treatments, people being told that they are gay from birth, what makes any of these politicians think that we are going to have a couple more generations of people to pay down their debt? Say a quarter of the population was Unable to have children in the near future, who is going to pay off THEIR debt? These kids are getting sterilized by the dozens right now with all of this rhetoric.
Would you run your family budget this way?
FJB.
😂 I just thought of something. We have to spend our money wisely and pay our bills on time or else we have a terrible credit rating and we can get nothing. No credit card no loan for a car no loan for a home if we have bad credit. 😂 Just think if these people had to have the credit score they earned used against them. So while in office if you did not balance the budget and you created more debt and you did not pay your bills on time your credit score would be 100.😅😅 Then live with that😅😅
@@carma459the entire country score goes down which affects everyone.
They always go after Social Security, but not welfare.
When spending is for the good of the people in power and those connected to them rather than the good of the people.
How about we STOP GIVING MONEY TO OTHER COUNTRIES!!!!! Especially Ukraine
7 - 8 % reduction in government spending just to stay where we are!! FJB
STOP ALL foreign funding!!
A good start!
How refreshing to actually have someone who ANSWERS the questions honestly and openly. No lectures there.
Wow! Someone who answered the questions. 7%-8% cuts and not adjusting for inflation. Every year every department gets an automatic increase. STOP THIS.
2 trillion to the MIC every year.
There is your deficit.
Yo, John’s losing weight, looking good big man!
With this great economy we hear about, cut unemployment and Welfare and make people go to work....understand there's more jobs than ever.
Go on Mr Kennedy you should run for the presidency I will definitely vote for you
Hire Kennedy for Pres???
Novel concept!
He is more effective in the Senate
He's a rhino.
@@kicnbac you mean rino……and no he is not
He is more effective as a senator. As president he would get his hands tied.
Drill oil.
WOW! This looks like an honest guy. How refreshing! I did not expect to see that.
Money isn’t real.
8% ? That's a joke.
My groceries cost 100% more. I'm pretty sure the feds can handle a 8% cut.
This is probably the first time I’ve actually heard a government official actually answer a question. He answered directly without hesitation to try and make up lies. Very refreshing.
It doesn’t take a PHD to know that we need to stop sending money overseas
Finally!!!!! A department chairman that is qualified and knows what the hell he is talking about!!
Okay that is one. Is there another anywhere on planet earth?
Least this guy isn’t saying Thank you for that question
30% across the board!
Do Not let him go. I contribute from NYS!
The national debt per the debt clock is very close to $35 trillion, not $28 trillion.
When I retired I had to cut my spending about 40% in order to keep from dipping into my retirement fund. Last year I had to take money out of my retirement fund just for the necessities and it looks like I will have to dip into it once again this year. I wanted to save that money for emergencies or to hopefully leave my children a nice inheritance. I don't know how anyone lives solely on social security because I have no mortgage or car payment and still can't live on what I get per month. All the government has to do is get rid of some/a lot of agencies that do nothing for us. We need to quit giving our tax dollars to other Countries and non citizens coming across our border illegally. We need a President that actually loves our Country and its citizens, and a Congress that is financially responsible with our money.
Same over here too. We were supposed to get an Increase in our SS Check recently, right? Well, yes mine went up but then the deduction for Medicare went up and my supplemental went up and wow guess what My total check ACTUALLY WENT DOWN by $30.00 WTF!!!???!!!
@@ScottCelaya Biden and Janet Yellen said inflation was transitory. That was 2 years ago.
I actually like this witness. Wow, he was being honest!! I never thought I would see this.
I was actually enjoying this conversation with Sen. Kennedy and the C.B.O. director. I was learning something and saw this gov't man coming out with numbers when asked like a dang pro at his job. Refreshing.
John Kennedy says, "Duddent".
How can a fund that I paid into, not have the funds there? GOV is corrupt.
This guy is one very competent and intelligent young man. Perhaps, he would be willing to remind these folks once a week just how dire the situatuion is.
This was a very good explanation of what needs to happen immediately. I'm tired of hearing "Congress needs to take action...." Meanwhile spending continues out of control.
eliminate wasteful spending on things like animal sexual habits and other unnecessary studies.
They took a perfectly good system & ran it in the dirt"& it's on purpose 😢
The Weimar Republic is just around the corner.
In more ways than just debt and inflation...
Too many employees in the government and only 1/3 is doing work.
If I was Biden, and i was bringing up a great point/argument to reduce spending, i would LITERALLY say as Biden, "One word: Pakistani Gender Studies".
*Mic drop*
If I ran my household budget like our government does, I’d be in bankruptcy-several times! What right does the government have to dip into Social Security? They’re using it like a spare change purse!
The guy seems to be giving honest facts, he is absolutely saying we are on a disaster course.
Who are they to come auditing Americans when they cannot balance the national budget themselves? This is lunacy.
At least this guy answered questions.
The magnitude of difference between a million, a billion and a trillion can be illustrated with this example of the time scale: A million seconds is 12 days. A billion seconds is 31 years. A trillion seconds is 31,688 years.
Its like a 500 lb person saying they cant cut one pound!
it is so refreshing for a Bureaucrat to actually Answer the Question, they are asked!
He should ask China for loan forgiveness
As an old school banker, I used to tell my clients - companies and individuals - burdened with debt, to cut spending by 1%, yes just 1%. not a fanciful 5% or 10%, concurrently try to increase revenue by 1%. This will have a surprisingly positive effect on the bottom line.
A cool politician reaching for clarity and information talking to a hands on true numbers guy.
Love it.
I'm just a New Zealander but hey, what about not giving zillions to the Ukraine?🇳🇿
Yeah, the national debt is $34 TRILLION. Why didn't he just say that?
When Kennedy asks him "What should we do"?
The correct answer is: "Congress should grow some balls, and by Congress I mean you"
Swagel is an accountant, not a legislator.
This is MMT.There is no amount of money we can owe that we can’t print.
He answered questions. Nice to hear
There's no wonder that no one is doing anything because of the people doing nothing being funded..
My question is who on earth do we owe this money to in the first place??
China, mostly, I think.
china
People who buy US treasuries including foreign reserve banks, commercial banks, investors, individuals, etc.
Here is a man who cares about our country,thank god for him.
COMMON SENCE .
LOVE AND LIGHT.
WOW.
This witness actually seems decent and intelligent!
Mr slick talking Sen. Kennedy should be asking why we have to borrow our own money and PAY INTEREST on it
omg that's so dumb. This guy doesn't have the political power to change the budget.
Each three letter agency we remove saves about $10 billion annually, this economist says we need to cut $500 billion from the annual budget if we don't increase revenue.
That would bring us to a point where we only need to cut 5% across the rest of the board instead of 7%.
My right ear is lonely
😂😂
What do we do? Reduce government spending.
What about not giving other country’s all of our money
That's My money and none of you ever accepted me included me listened to me or was nice to me I have no sympathy
On the edge of collapse again. Let me count...8...14...36 times ive heard this this year. Piss Orf mate.
So in other words, he doesn't have a clue.
For once, a witness who knows what he's talking about. I'm a fan of this one
Fire half the government and stop sending money overseas
If things don't change, we will reach a point where every single penny the government takes in will go just to pay the interest on the national debt. Every single penny. One economist said this could happen by 2050.
Swagel is a nervous nelly
If you looked at the numbers and understood at his level the fiscal nightmare of US, you’d have mini freak outs too.
28 Trillion? More like 35 Trillion and 4 Trillion per year deficit.
Man this is so scary. Thank God we have people like senator Kennedy being transparent with us and sounds like he’s trying help us all fight the horrendous spending
No one ever asks the question - would it be good or bad if we paid off our debt? (It would be catastrophic to global markets btw if we paid it off).
Why is that an important question? Because it shows the root issue is not our debt, it is monetary policy (money creation) by an unelected body - the Fed.
Wow! Someone who actually answers questions. How refreshing.