President Obama has conceded that his budget proposal will stabilize - but not solve - our deficit problems, prompting top Republicans to accuse the White House of punting on entitlement programs. So I asked Michael Bloomberg on “GMA” who he sided with.
“If Republicans want to criticize they should put out their suggestions, they’re part of government as well. But I think both sides of the aisle, both ends of Pennsylvania Avenue have to come together and agree that they are going to do something for America and not use it as a cheap political tricks,” Bloomberg– an independent – said. “And unless you do something about the entitlements which take up 2/3 of the budget, you are not going to solve this problem, unless you do something about the cost of defense, you’re not going to do anything about this budget.”
The New York City Mayor said Congress needs to address entitlement programs and assess what society needs first, then whatever money we don’t have is what we have to raise.
Will that require new revenues?
“I don’t know that,” Bloomberg told me.
“But I don’t hear Congress saying ‘Okay we have to have these programs, or we don’t have a future. We have to have a strong military, we have to fix public education across this country. We have to do something about guns that are killing 34 people every day…And then okay, how are we going to do those things and what is it going to cost,” he said.
Watch the interview here: