Steve Forbes: Government is concerned about its own well-being

Channel: Fox Business
Published: 05/14/2019 11:48 PM

Description
Forbes Media Chairman Steve Forbes and Democratic Socialists of America member Nomiki Konst on how the federal government spent more money in the first seven months of 2019 than any other year in U.S. history. FOX Business Network (FBN) is a financial news channel delivering real-time informati...



Transcript
All right government spending hitting an all-time record high two point: five: seven trillion dollars spent in the first seven months of fiscal 2019. Now remember when barack obama and congress vowed to pay for the affordable care out, affordable care act by rooting out waste fraud and taxpayer abuse from medicare and medicaid, it was going to help pay for obama care it didn't happen. Look at this ...
20 federal agencies admit to shelling out 1. 3 trillion dollars in improper overpayments since 2004. The worst offenders hhs irs, low-security pentagon, also medicare and medicaid jobless benefits social security, eitc and more, let's bring in the panel to debate it. Democrats, socialists of america, member. No mika constand, forbes mediachairs, steve forbes steve. I mean 2020 democrats keep pushing to raise taxes. Why do they always want to raise taxes? Why not fix the problem of this government waste here it's equal to the size of poland, this this? No that just shows when government's in charge way, they call it socialist or anything else, there's no consequences for that kind of waste in the private sector, in capitalism, free markets, you have that kind of waste. You go out of business. This been going on for decades and britain after world war, one then, as the navy got smaller, the agency running the navy got bigger. There are no consequences to that kind of waste because if youreduce your budget, you get less next year, no real incentives to guard that taxpayers money.

You know no mickey republican, john candidate and a number of democrats. They want a new bipartisan push in both chambers to stop the government from sending payments to dead people, a billion dollars from medicare and other programs spent there. What do you think now? Of course there are inefficiencies. Bernie sanders himself has talked about how the government is structured in a way that is not efficient, and part of that is because we have this dual privatized and and frankly, socialized government in which it's it's frankly, neoliberal as neo. It'S a neocon government in which we've privatized industries that shouldbe socialized and which would be much more efficient if you just made it for all. If we, if we taxed the richest, you know we talked about the private sector which which mr. forbes just mentioned. The private sector is only concerned about. The bottom line. Government should not function that way when government is functioning in a way. It is concerned about the bottom line. The one person who are paying taxes are the ones who are prioritized government ly concerned about its own well-being, about its own power, not about the people.

It was concerned about the people, you wouldn't see this kind of massive waste and in the private sector you succeed by meeting the needsand wants of other people, which is why capitalism is moral and free-market. You don't succeed unless you provide something that somebody else wants and without profit you don't get new businesses, you don't get expanding existing businesses and you don't get the kind of breakthroughs we need and socialized medicine in europe has crushed innovation. You don't see the new drugs new medical devices. That is absolutely true. You go back to the 1950s 1960s. Europe was a great font of new new pharmaceuticals, the u. s. that the font of most new pharmaceuticals - you know, mikey six and a half million people listed at social security of being older than a hundred and twelve years of age. There'S onlyforty people in the entire world aged 112 and over that's totally inefficient. I mean that's really something right, but those are that's different than socialized matter, but no, but that social disability insurance payments there right, that's medicine, but go ahead continue to clean up. So if we funded our government properly, if the richest 1 % actually funded the government rather than working people, we're already stretched way too thin we're going broke because they break their arms, they go bankrupt and they have and they're already you know, they're their wages are Low and they're not protected, because unions have been under attack by the koch brothers in states. I mean this is what's happening with the working-classbut, because of that, because our government is not funded, we're not able to clean up the way we got ta go.

It'S never been bigger and never more inefficient. That'S what happens when people three markets are not in charge. Medicare is going upside down by 2020. Why does the whole congress go into the va if single-pair so great? You know politicians get their health care marathon, the europe they ration health care. We don't want that here. Oh mickey and steve you've been great we'd love to have you both back on and have a good night thanks for coming on to mickey. Thank you. Keep orbs.


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