From Washington: House Republicans Sour On President Biden's Budget

The Fox News Rundown

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News, Daily News, Politics

3.4 • 1.7K Ratings

🗓️ 12 March 2023

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

President Biden released his 2024 budget proposal, projecting a total of $6.8 trillion in federal spending next year. While the President acknowledged his intention to reduce the national deficit, Republicans and Democrats remain divided on spending. Chairman of the Republican Main Street Caucus Congressman Dusty Johnson (R-SD) analyzes the budget proposal, discusses the President's roundtable collaboration with House Speaker Kevin McCarthy, and reveals his insight on bipartisan progress in reducing the deficit. An executive order was issued by President Biden this week, aiming to expand the nation’s investment into the production of hypersonic weaponry and ultimately advance the United States' defense industrial base amid heightening global conflict. Retired 4 Star General, Chairman of the Institute for the Study of War, and FOX News Senior Strategic Analyst Jack Keane details how hypersonic missiles work, why they are important to national defense, and later provides wider insight into international competition. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Sunday, March 12, 2023, I'm Ryan Schmelz. You show me your budget. I'll show you mine.
0:11.6	President Biden's budget is now released, and Republicans aren't too thrilled about
0:16.2	the nearly $7 trillion price tag. But what can we expect from the GOP's plan?
0:21.5	I think Americans really, really need to focus on the President's budget and how bad
0:25.8	it is for this country.
0:27.0	On Jessica Rosenthal, the President has signed an executive order refocusing some
0:31.2	military production efforts on hypersonic weapons, as we've fallen behind on that front.
0:36.6	They move at five times the speed of sound, which gives them enormous capability.
0:42.9	This is the Fox News rundown from Washington.
0:46.0	President Biden's budget is now released, and Republicans aren't too thrilled about the nearly
1:01.5	$7 trillion price tag. It is a lot of spending, $2.2 trillion worth of spending.
1:08.3	Republican Dusty Johnson is a part of the House problem solvers caucus,
1:12.4	and like many, he's concerned about how much is being spent.
1:16.7	Listen, we're at a tipping point. In the next 10 years, our country will pay more
1:22.4	and interest expense than we've paid since 1940. And so we've got to stop the spend.
1:30.8	And we've been hearing about the deficit and the debt for decades. And so I think a lot of
1:34.7	Americans just assume that it is as bad now as it's ever been. It's not. It's much worse. We're
1:40.5	about ready to hit the hockey stick and ride huge interest payments up. And that's going to
1:46.5	crowd out all the kinds of spending that I think Americans really really need to focus on the
1:51.5	president's budget and how bad it is for this country. And so what particularly bothers you
1:58.3	the most about some of the numbers and some of the spending proposals in this budget in particular?
2:04.6	Yeah, I think there are two major factors that make the budget terrible with regard to spending.
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