00:00:00
the solution is you must cut the deficit
00:00:03
down to 3% of GDP and it's 7 and a half%
00:00:08
expected that's about 900 billion a year
00:00:11
and that means cutting the deficit by
00:00:12
more than half do it soon when the
00:00:16
econom is good in other words do it now
00:00:19
now if you have a bad economy you you
00:00:23
cannot do it and recognize that you have
00:00:27
to own the number the other thing about
00:00:29
it is to realize that if you make those
00:00:32
moves the bond market will benefit
00:00:35
interest rates will go down right if the
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federal government were to cut spending
00:00:39
significantly and quickly the market
00:00:42
would naturally react to lower rates
00:00:44
that's right the longer we wait the more
00:00:47
you have to cut in the future to get out
00:00:49
of the hole and ultimately this is the
00:00:51
arithmetic death spiral that you get
00:00:53
into So the faster you do it the less
00:00:55
you have to cut right I think that is so
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important for any person in government
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listening the faster you cut the less
00:01:01
you have to cut
