Where Does the Money Go?

Mar 3, 2008

C-SPAN | Washington Journal

Participating by remote connection from New York City, co-authors Jean Johnson and Scott Bittle talked about their book, Where Does the Money Go? They offered a consumer's view of how much debt the U.S. currently has and how that is reflected in the federal budget. They responded to telephone calls and electronic mail.
Participating by remote connection from New York City, co-authors Jean Johnson and Scott Bittle talked about their book, Where Does the Money Go? They offered a consumer's view of how much debt the U.S. currently has and how that is reflected in the federal budget. They responded to telephone calls and electronic mail.

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TIME SPEAKER TEXT
00:00:03 Host JOSH KURTZ, THANKS A LOT FOR YOUR TIME THIS MORNING.
00:00:06 Guest THANK YOU.
00:00:08 Host A LOOK AT A BOOK CALLED "WHERE DOES THE MONEY GO? YOUR GUIDED TOUR TO THE FEDERAL BUDGET CRISIS" AS...
00:00:37 Guest WELL, WHAT WE WRITE ABOUT IN THIS BOOK, THE PROBLEMS FACING THE BUDGET ARE AN OPEN SECRET IN WASHINGTON...
00:00:58 Host JEAN JOHNSON'S COLLEAGUE AT THE PUBLIC AGENDA ONLINE AND CO-AUTHOR ALSO JOIN US FROM NEW YORK SCOTT...
00:01:14 Guest WELL, I THINK THERE ARE A COUPLE OF THINGS, BUT ONE OF THE MOST IMPORTANT IS THAT NEARLY EVERYONE...
00:02:02 Host PHONE NUMBERS ON THE BOTTOM OF THE SCREEN FOR OUR GUESTS IN NEW YORK. WE ARE TALKING ABOUT THE FEDERAL...
00:02:32 Guest PUBLIC AGENDA ONLINE IS THE WEBSITE OF OUR ORGANIZATION, PUBLIC AGENDA, A NONPROFIT, NON PARTISAN...
00:02:55 Host JEAN JOHNSON, LET'S START WITH YOUR GREAT BUDGET DEBATE POP QUIZ AND HAVE FUN WITH THIS. YOU LAY...
00:03:17 Guest THE ANSWER IS IT'S NOT TRUE. AND A LOT OF AMERICANS BELIEVE THAT. UNFORTUNATELY, THE WAR THAT -- ...
00:03:32 Host SCOTT BITTLE, QUESTION FOR YOU, TRUE OR FALSE IF WE JUST ROLLED BACK THE BUSH TAX CUTS SOMETHING WE...
00:03:43 Guest AND AGAIN, THE ANSWER IS, SADLY, FALSE. IT'S NOT A SINGLE THING DRIVING OUR BUDGET PROBLEMS. AND...
00:04:04 Host FIRST CALL FOR OUR GUESTS WHO ARE UP IN NEW YORK, BUFORD, GEORGIA, YOU'RE ON THE AIR. GO AHEAD, GEORGIA....
00:04:10 Caller YES. GOOD MORNING.
00:04:11 Host MORNING.
00:04:12 Caller THANK YOU SO MUCH FOR
00:04:13 Host UH-HUH.
00:04:14 Caller I'M SORRY.
00:04:15 Host YEAH. WE CAN HEAR YOU. GO RIGHT AHEAD.
00:04:19 Caller OH, OKAY. I JUST WANTED TO ASK YOUR -- I WANTED TO ASK THE GUESTS AND THEN MAKE A COMMENT.
00:04:25 Host SURE.
00:04:26 Caller I WANTED TO ASK YOU IF EITHER OF YOU HAVE READ THE BOOK "THE CORPORATION," YOU KNOW WITH THE GUY WITH...
00:05:15 Host THANKS. JEAN JOHNSON, WHY DON'T YOU TAKE THAT ONE.
00:05:19 Guest WELL, I HAVEN'T READ THE BOOK. ONE OF THE PROBLEMS OF WRITING A BOOK, YOU GET BEHIND ON YOUR OWN READING...
00:06:18 Host SCOTT BITTLE, PAGE 83 OF THE BOOK, YOU POINT OUT THAT THE MAIN FUNCTION OF THE WORLD'S GREATEST SUPERPOWER...
00:06:41 Guest WELL, THIS IS ANOTHER THING THAT SHOCKS PEOPLE WHEN THEY SEE IT. THE FACT IS THAT TWO-THIRDS OF THE...
00:07:10 Host WHAT DOES THAT, OF COURSE -- WHAT DOES THAT MEAN TO THE FUTURE, HOW MUCH MORE SPENDING PERCENTAGE-WISE...
00:07:19 Guest WELL, AS I SAID BEFORE, THE WORST-CASE SCENARIO IS THAT MEDICARE, SOCIAL SECURITY, AND INTEREST ON...
00:07:52 Host MEDICARE IS ONE OF THOSE QUESTIONS IN YOUR POP QUIZ IN THE BOOK IT SAYS WHICH OF THE FOLLOWING AREAS...
00:08:23 Caller YES, SIR.
00:08:25 Host FINE.
00:08:27 Caller I'M CALLING TO ASK IF MOST OF THE MONEY WE'RE GOING TO HAVE TO PAY BACK IN 2020 IS ALSO GOING TO COME...
00:09:20 Host JEAN JOHNSON, UP IN NEW YORK.
00:09:21 Guest WELL, YOU KNOW, IT'S INTERESTING. THERE ARE TWO CATEGORIES OF DISCUSSION ABOUT THE BUDGET. ONE REALLY...
00:10:35 Host NEXT CALL, ALBANY, NEW YORK, TALKING ABOUT THE FEDERAL BUDGET AND DEBT IN THE U.S. GO AHEAD. ALBANY,...
00:10:43 Caller YEAH.
00:10:44 Host GO AHEAD, SIR.
00:10:47 Caller YEAH, I'M CURIOUS ON IT IS TRUE THERE IS NO LAW STATING WE HAVE TO PAY FEDERAL TAXES?
00:10:54 Host SCOTT BITTLE, IS THAT RIGHT?
00:10:57 Guest WELL, I THINK WESLEY SNIPES THOUGHT SO AND I DON'T THINK THAT WORKED OUT FOR HIM COMPLETELY. I WOULD...
00:11:14 Host ALBANY, ARE YOU STILL THERE? I THINK WE LOST HIM. WANTED TO GET MORE PERSPECTIVE FROM HIM BUT LET'S...
00:11:23 Caller THAT WAS A VERY GOOD ANSWER TO THE LAST QUESTION, I MIGHT ADD. WHILE I HAVE SOMEBODY THERE I WANT...
00:12:16 Host LET'S HEAR FROM OUR GUEST, JEAN JOHNSON.
00:12:18 Guest WELL, YOU KNOW, I THINK THE CALLER HAS CERTAINLY A RIGHT TO KNOW WHERE THE MONEY IS GOING. I'M NOT...
00:13:18 Host BACK TO THE POP QUIZ IN YOUR BOOK, SCOTT BITTLE UP IN NEW YORK, NUMBER 4 ASKS TRUE OR FALSE FOREIGN...
00:13:30 Guest IT'S FALSE. IT'S REALLY ABOUT ONE PERCENT OF THE BUDGET, LESS THAN ONE PERCENT OF THE BUDGET. AND...
00:13:43 Host WHY IS THAT?
00:13:44 Guest I THINK BECAUSE PEOPLE DON'T HAVE A GOOD SENSE OF HOW THE GOVERNMENT SPENDS THEIR MONEY. ONE OF THE...
00:14:34 Host WE HAVE A CALLER FROM DALLAS NOW FOR OUR GUESTS. UP IN NEW YORK WHO WROTE THIS BOOK "WHERE DOES THE...
00:14:43 Caller GOOD MORNING.
00:14:45 Host UH-HUH.
00:14:47 Caller AND WHAT I WANT TO SAY, OF COURSE, WE VOTE IN DALLAS TOMORROW. I'VE ALREADY VOTED. BUT, I THINK THAT...
00:15:40 Host THANKS, JEAN JOHNSON, LINKING THE PRESIDENTIAL CAMPAIGN TO THE BUDGET PROCESS HERE. WHAT DO YOU THINK?...
00:15:44 Guest WELL, YOU KNOW, I THINK IT'S AN IMPORTANT ISSUE. THERE ARE ALL THE CANDIDATES THAT ARE STILL IN THE...
00:16:49 Host SCOTT BITTLE, HOW MUCH IS SPENT ICH YEAR IN TERMS OF FRAUD AND WASTE AND THAT WORD "PORK" WE HEAR...
00:16:58 Guest WELL, NOT ENOUGH TO BALANCE THE BUDGET, BY MOST STANDARDS, ALTHOUGH AGAIN, THIS IS SOMETHING THAT...
00:18:07 Host RICHMOND --
00:18:09 Guest -- IT IS A TRUST-BUILDING EXERCISE.
00:18:11 Host THANKS. RICHMOND, VIRGINIA, YOU'RE ON THE AIR NOW TALKING FEDERAL BUDGET DEBT WITH TWO GUESTS UP ...
00:18:20 Caller GOOD MORNING, HOW DROUING?
00:18:21 Host FINE.
00:18:22 Caller I LISTENED TO WHAT YOU SAID ABOUT BRIDGES TO NOWHERE AND EARMARKS BUT THIS FIRST STATEMENT I WANT...
00:20:01 Host THANK YOU. SCOTT BITTLE, DO YOU WANT TO TAKE THAT ONE? .
00:20:05 Guest WELL, I THINK THIS QUESTION OF CURRENCIES AND COMPETING WITH EUROPE AND OTHER PARTS OF THE WORLD IS...
00:21:05 Host JEAN JOHNSON BACK TO YOUR POP QUIZ IN THE BOOK, FINAL QUESTION HERE, TRUE OR FALSE, MONEY IN THE SOCIAL...
00:21:17 Guest THE ANSWER IS THAT'S NOT TRUE. LEADERS HAVE BORROWED OUT OF THE SOCIAL SECURITY FUND FOR LO THESE...
00:22:06 Host BY THE WAY, WHAT CAN FOLKS FIND AT THE WEBSITE PUBLIC AGENDA.ORG THAT MIGHT INTEREST THEM?
00:22:14 Guest WELL, THEY CAN FIND WHAT WE CALL CHOICE FRAMEWORKS FOR 20-SOME ISSUES. WE OUTLINE THREE OR FOUR DIFFERENT...
00:23:08 Host A CALLER NOW FROM MINNESOTA. THANKS FOR WAITING. HI THERE.
00:23:11 Caller GOOD MORNING.
00:23:12 Host GOOD MORNING.
00:23:13 Host SURE.
00:23:14 Caller I HAVE ONE FOLLOW-UP QUESTION AND THEN ANOTHER QUESTION. MY FOLLOW-UP QUESTION IS ON THE SOCIAL SECURITY,...
00:24:39 Host BACK TO NEW YORK. SCOTT BITTLE, HOW ABOUT YOU?
00:24:44 Guest WELL, I THINK THIS GOES TO ONE OF THE FUNDAMENTAL THINGS ABOUT THE BUDGET, WHICH IS SETTING PRIORITIES...
00:25:41 Host JEAN JOHNSON, CHAPTER 13 OF THE BOOK HAS K STREET BECOME WASHINGTON'S MAIN STREET, THE CONNECTION...
00:25:51 Guest WELL, YOU KNOW, ONE OF THE THINGS WE POINT OUT IS THERE THAT THERE SOME 30,000 LOBBYISTS IN WASHINGTON,...
00:27:35 Host BACK TO THE CALLS, BERLIN, WISCONSIN, YOU'RE ON THE AIR NOW, HI.
00:27:39 Caller GOOD MORNING. I JUST SAW DAVID WALKER IN THE FACE SKAL WAKE-UP TOUR IN WISCONSIN TRYING TO SOUND THE...
00:28:42 Host THANK YOU. SCOTT BITTLE, WHAT IS IT GOING TO TAKE TO GET SOMETHING DONE?
00:28:47 Guest IT'S GOING TO TAKE -- IT'S GOING TO TAKE BIPARTISANSHIP AND SOME FACING FACTS AND IT'S GOING TO TAKE...
00:30:06 Host JEAN JOHNSON ONE WAY TO SOLVE ANY PROBLEMS YOU PRINT TOWARD THE BACK OF YOUR BOOK IMPROVE THE CONGRESSIONAL...
00:30:19 Guest WELL, YOU KNOW, THERE ARE A LOT OF DIFFERENT IDEAS AND I MEAN, BASICALLY THE PRESIDENT SUBMITS A BUD...
00:32:11 Host CALLER NOW FROM ALTOS, OKLAHOMA. THANK YOU FOR WAITING. HI THERE.
00:32:14 Caller HELLO.
00:32:15 Host MORNING.
00:32:16 Caller THIS IS A GREAT DISCUSSION. I THINK THAT WE NEED TO FACE THE FACTS THAT BILL CLINTON AND THE REPUBLICAN...
00:34:23 Host THANKS. JEAN JOHNSON UP IN NEW YORK.
00:34:26 Guest WELL, I THINK THE CALLER BRINGS UP A VERY IMPORTANT POINT. THERE IS -- WE ARE A WEALTHY COUNTRY AND,...
00:36:24 Host SCOTT BITTLE, HOW MUCH DID YOU UNDERSTAND THE FEDERAL BUDGET PROCESS BEFORE YOU PUT THIS BOOK TOGETHER...
00:36:32 Guest THERE'S A LOT OF MATERIAL OUT THERE, IF YOU'RE WILLING TO LOOK FOR IT. MOST OF IT IS WRITTEN IN WONKESE,...
00:37:19 Host LAST CALL FOR OUR GUESTS FROM BALTIMORE, OHIO, WELCOME.
00:37:25 Caller GOOD MORNING, C-SPAN. THAT LAST CALLER KIND OF SEGUED INTO THE QUESTION, COUPLE QUESTIONS THAT I HAD....
00:38:35 Host JEAN JOHNSON?
00:38:36 Guest WELL, YOU KNOW, TO THE FIRST POINT, THERE ARE LOTS OF VERY OPTIMISTIC BUDGET PROJECTIONS OUT THERE....
00:40:29 Host OUR TWO GUESTS IN NEW YORK HAVE BEEN JEAN JOHNSON, CO-AUTHOR OF WHERE DOES THE MONEY GO, HERE IS A...

NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.

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