NAPOLITANO: Let me get my esteemed colleague -- we only have about 30 seconds to reply.(CROSSTALK)NAPOLITANO: Are you saying earmarks are OK --(CROSSTALK)RATHMANN: -- we Tiffany Sets on sale to clearly define what an earmark is. I think we need to take a step back.NAPOLITANO: Does it matter if they're a bridge to nowhere or if they're for jet aircraft?ROTHMANN: If it's economically accretive. If it creates jobs, if it crates -- again, if it is supportive of the economy, if it's going to add points, even if it's a tenth of a percentage point, to GDP growth. And I think that's what you have to look at when you're determining whether of not --
(CROSSTALK)RATHMANN: By the way, the earmarks, as they stand, as they're currently defined, it's a drop in the bucket by way of paying down the debt.NAPOLITANO: All right, I'm going Tiffany Watches on sale have to leave it there, giving Lori Rothmann the last word.Lori, Nancy, Charles, thanks very much for joining us.Coming up, "The Plain Truth" on limitless government spending and borrowing.(COMMERCIAL BREAK)NAPOLITANO: Does the government work for us, or do we work for the government? Are the Discount Elsa Peretti guarantees of no taxation without representation real guarantees, or can the Congress simply buy now and make future generations pay later?
Tonight, your money and your freedom.The president's proposing an annual budget that offers to spend nearly $1.5 trillion dollars more than the IRS will collect from taxpayers in the coming fiscal year. In order to do that, the law must be changed to permit the government to borrow all that money, $1.5 half trillion. At present, there's a legal cap on how Discount Frank Gehry the government can borrow. And that cap will soon be reached. The government is only a few hundred billion dollars away from the cap. But at the rate that it borrows and spends, it will reach the cap and, thus, will have exhausted its legal ability to borrow in just a few months.
ROTHMANN: Earmarks funds projects military, National Guard, science, medicine, spending projects. Let's go back to our theme, generate job growth, and that's what this Tiffany Necklaces on sale needs so desperately.NAPOLITANO: So you're suggesting that the earmarks can help the economy?ROTHMANN: I am actually. I'm sorry.NAPOLITANO: Charles -- that's all right. Don't be sorry.(LAUGHTER)Charlie, does it matter if an earmark is to build a bridge to nowhere or to expand a military base, it's still an earmark isn't it?GOYETTE: An earmark is an earmark. And, of course, Obama doesn't mind shifting the appropriation or the direction and specification of that spending to the executive branch, as long as he's president. That's all they're going to do.
And it doesn't involve reducing spending itself. It only specifies where all of this deficit spending goes. And so he's totally happy during his administration to take it away from Congress to the extent he can and leave it in the executive branch.NAPOLITANO: Nancy, I'm going to grant you this one. I believe that you predicted that Republicans would Tiffany Notes on sale be able to resist the temptation to find a way around the earmark ban, and I grant you that. They're already willing to break it. So is giving money to Grumman Aircraft on Tiffany Pendants on sale Island or to something in Michigan that's defense based, is that an earmark?SKINNER: It is. And I think, Judge, you and I are going to have Kumbaya moment here.
(LAUGHTER)NAPOLITANO: Let's have it.SKINNER: I thought it would be shared by everyone on this show.(LAUGHTER)Because you know what, the defense budget is so much easier to defend -- defense project than it is a bridge to nowhere. But your esteemed colleague there, it's funny that she says it is OK to spend on defense projects Tiffany Rings on sale that's stimulus, but it's not OK to spend on teachers and beat cops --ROTHMANN: That's not what I said.SKINNER: -- because that's bad, evil government spending.That's exactly what you said.NAPOLITANO: Let me get my esteemed --(LAUGHTER)SKINNER: So why is one good and one not?
The unemployment problem, Judge, is so severe in this country that you're not going to have enough unemployment benefits to cover all the people who are unemployed.NAPOLITANO: Nancy, won't we create a dangerous precedent if we start bailing out states? Basically, the president is doing this, correct me if I'm wrong, in order to transfer money Tiffany Earrings on sale the states because their coffers have ran dry. If the president and the Congress, the federal government is going to bailout the states, where will it end? Will they pay Chris Christie's bills? Will they pay Jerry Brown's bills? Will they pay Andrew Cuomo's bills?
SKINNER: This is a not a bailout of the states, Judge. Look, corporations take advantage and use the infrastructure of states. If you're saying that what the -- the alternative is to start laying off teachers Tiffany Key Rings on sale beat cops and hospitals and roads and the public education system, that is going to ruin corporate business. Corporations use all of those assets. They're sitting on $2 trillion in cash. They have an obligation as corporations chartered to serve society. You can't get all of those services and expect not to have to hire or not Tiffany Keys on sale have to pay to create jobs in that community.NAPOLITANO: OK. All right.SKINNER: That's just the bottom line, Judge.
NAPOLITANO: We're going to switch gears a little bit, because the president has promised -- it's a very famous line from his "State of the Union" message -- not to sign any bill containing wasteful Tiffany Money Clips on sale earmarks. But he doesn't call them wasteful or unconstitutional. But people are already warning that military projects, historically funded by earmarks, represent too great a share of the state's economies for federal lawmakers to ignore.Will that be what busts the earmark ban, Lori Rothmann?ROTHMANN: I do think so, Senior Judge.(LAUGHTER)Absolutely. Here's the thing. Unless you're going to redefine what an earmark is and drill down on that loophole.
CHARLES GOYETTE, AUTHOR: Oh, boy.NAPOLITANO: All right. All right.SKINNER: They're sitting on $2 trillion in cash. They're not spending. They're not hiring.NAPOLITANO: All right.SKINNER: Who should pay? Corporations or people like you and -- well, the average working -- not you, Judge --NAPOLITANO: Charlie? Charlie?SKINNER: -- the Tiffany 1837 on sale working person.NAPOLITANO: Corporations don't pay taxes. People do. Either shareholders of the corporations or customers of the corporations pay taxes. And some human being has to part with cash to pay tax, no matter what kind of a name you put on it.GOYETTE: All taxes are paid by people. This is unbelievable. But think how Kafkaesque this whole thing is.
The United States government, which is virtually insolvent, has to borrow money from people in China and Japan, and so on, to loan that money to the bankrupt states. And it wants out of the deal Tiffany Bangles on sale the road. Oh, after the presidential election, by the way, after. It wants out of the deal down the road. And so they suggest raising taxes on what? On jobs. Well, what do you get when you raise taxes on jobs? Fewer jobs.NAPOLITANO: All right, got it.All right, Lori, the president Tiffany Bracelets on sale claiming the economy is better. We had somebody on earlier in the show, from "The Economist" magazine, of all places, predicting a rosy future, but it's a jobless recovery.
LORI ROTHMANN, FOX BUSINESS NETWORK ANCHOR: It is a jobless recovery.NAPOLITANO: Isn't it basic economics 101, when you raise taxes you increase unemployment?ROTHMANN: Oh, 100 percent. This is maddening. You are basically -- the president, talking to the Chamber of Commerce saying, we're going to streamline the Tiffany Cuff Links on sale tax code and, all the while, planning part of the budget, right, that they're going to expand the pool of taxable wages. Small business growth is the engine of job growth in this country. Instead of worrying about how you're going to cover unemployment benefits, let's worry how we're going to create jobs.
NAPOLITANO: The president wants to pay people not to work by taking money from those who do, and it's all so states can pay off their unemployment insurance shortfalls. In other words, it's another bail out. My "Freedom Fighters" are on that one, next.(COMMERCIAL BREAK)NAPOLITANO: President Obama is looking to provide cash-strapped states a way to pay for unemployment insurance by increasing -- are you ready for this -- business' payroll taxes. But does he not realize that higher business taxes Elsa Peretti on sale lead to more unemployment? And so much more making -- for making nice with business.Here to discuss are my "Freedom Fighters," "FOX Business Network" anchor and my colleague, Lori Rothmann; "The Dollar Meltdown" author, Charles Goyette; and radio host and "Freedom Watch" regular, Nancy Skinner.
So, Nancy, let me get this straight. The other night, President Obama tells Bill O'Reilly on national television, right before the Super Bowl, I didn't raise taxes. And the next day, he speaks to the Frank Gehry on sale of Commerce and says, I love business and that's why I'm here. Within minutes of leaving that Chamber of Commerce speech and hours of the one-liner to O'Reilly, he says we're Paloma Picasso on sale to raise taxes on businesses and give the money to the bankrupt states. What kind of sense does that make?(LAUGHTER)NANCY SKINNER, RADIO SHOW HOST: You know what, it's true. "Politico" says, by and large, taxes are lower under the Obama administration. Check it out.
But, Judge, this isn't a question of whether to tax or not. It's who to tax. The states are bankrupt. The recession drained their coffers of the federal insurance program. So here's what he's saying. The feds, in Return To Tiffany on sale the payroll taxes to who you cover, from $7,000 to $15,000, the rate will actually go down and the U.S. will be talking in no more. But the states will have a chance to replenish their coffers.And here's why the corporations should pay that. President Obama bailed out big business. He bailed out Wall Street.
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