http://video.foxnews.com/v/1726388554001/
This transcript is automatically generated
We’ll talk a lot about jobs the economy of course but there’s a new really hot button issue.
That is starting to become a lot more important in the campaign for the White House for 2012.
Because they’ve got looming.
Mandatory defense budget — up to one trillion dollars.
Over the next ten years a number that the Defense Secretary has called devastating he’s a member of the administration of course secretary defense Leon an ad that.
Says — these reductions if indeed they happen.
Will lead to the smallest ground force that the US military’s had since 1940.
It would leave a naval fleet of fewer than 230.
Ships that’s the lowest level — we’ve had in the navy since 1915.
And it would leave the smallest tactical fighter force in the history.
The air force that is shopping we really need to think about as the possibility that they — kick yet so joining me — thinks about this an awful lot.
He’s California congressman button at the end.
Is the chairman of the armed services committee you’ve really been.
Passionate about this issue.
You know we talk about sequestration.
And what it means but this is what it really means — devastating impact do you feel on our defense system.
You know we held — last September we held six hearings the first five.
Were the impact that this would be on the defense of our nation you know the constitution does say that we should provide for the common defense of the nation.
So that’s very very important.
We do not have a defense industry to provide jobs that’s a side benefit.
At the last hearing — was what the economic impact would be on.
On our on our nation if these sequestration.
Cuts came through.
And one of the professors came from — George Mason University — done a study he said that we could lose a million and a half jobs.
That’s out of uniformed military personnel defense.
About people who work for the civil defense and then contractors.
And — I’m I’m gonna say today for the first time we do have the director of OMB coming up.
I was.
Meeting with one of the top industry leaders he went to the OMB — said to have to find out what direction the administration was giving him.
Know the administration is just backed away from this president’s been out campaigning.
And — they’ve just ignored this.
But it’s it’s huge so what the director of — and be told this.
Industry leader.
Was don’t paying attention to — don’t worry about it it’s not gonna happen so we have him coming in to testify we have the industry leaders coming in July.
And says so the headline be says to this industry leader in the defense industry I don’t worry about the sequestration — you’re hearing about not gonna happen.
Why — he say that when when the president has said he would be tell any bill that would turn these cuts.
– it it just as.
It’s hard to imagine I think that.
What we would read need to find out that’s why we — coming in to test — we wanna ask him.
Why are you giving this kind of information why are you telling them the law states that this is gonna kick yet.
You know the super committee was supposed to fix it.
I’ve heard people say well we’ll fix — during the lame duck session.
But.
It needs to be fixed right.
Now one of the things that really strikes me about this is the sequestration.
As in just remind everybody came about as a result of an inability to — to come to a grand bargain agreement.
Right to cut spending a really across the board in a lot of areas but the only area that seems to have really come under any cuts after all of that — Is is that defense.
Of our country right so I mean we’re not having these talks talking about cutting back.
Benefits or services in any — we’re we’re really focused when it comes to spending cutting spending on defense right.
Defense accounts for about 17%.
Of our overall spending.
And yet half of the savings that we’ve generated from these cuts are coming out of defense.
So I think that it’s time for people to really focus in on this I think it’s going to be.
A campaign issue because the president’s not addressing it.
And I — mr.
Romney has said he’s gonna read.
You know he’s got a replace these cuts he’s gonna build the military up.
He he understands — you know — the top leaders military leaders in the nation told me a couple months ago.
In his 37 years in this business he’d never seen — time as dangerous as right now.
We look at Iran we look at North Korea we look at the Arab Spring we look at the things happening around the world.
And we’re choosing at this time to cut a trillion dollars out of our –
It’s well it’s interesting because it is twofold as you say with this issue you’ve got jobs.
And you’ve got ready — so the readiness issue.
You folks have talked about quite a bit — outlining how — would change our readiness our capability.
The jobs issue it strikes me when we talk about this fiscal cliff that could happen at the beginning of of the next year this is this is part of that because me talk about.
Company is including defense companies and so many companies across the country.
The city don’t know what they’re planning any attacking the defense industry — and into you we don’t know what this means for us and not try.
Sequestration.
That kicks in January 2 will be like one point 11 point two trillion dollars of cuts.
Now I’ve just been talking on the defense side and that will amount to about one and a half million jobs which puts us back up to about 10% unemployment — So when we’ve got this shaky recovery and we’re talking about loosen that many jobs and that’s just half of what about on all the social spending site we’re gonna cut FBI we got to cut education we’re gonna cut all the social spending.
That’s another five or 600.
Billion dollars salt of the job losses on — side.
Will pushes up well over 10%.
I think I think this is got to be something that.
And I looked — indeed act congressman — he and it’s great to see you sir thank you for comment and testing Geithner program.
Really fun — with Pakistan.
Thank you I’m not saying I’m great debt that yourself is gotta give her.
