Hensarling and Meeks Spar on Deficit Reduction

Meeks: 'We have a debt, not a spending problem'


Rep. Gregory Meeks (D., N.Y.) and Rep. Jeb Hensarling (R., Texas) sparred on the nature of debt challenges facing the United States Monday on "Hannity:"

GREGORY MEEKS: We have a debt problem.

SEAN HANNITY: We have a debt problem. We don't have a spending problem today?

GREGORY MEEKS: We have a debt problem, and we have to pay our bills.

SEAN HANNITY: All right, but we're borrowing 46 cents of every dollar.

JEB HENSARLING: The deficit is the symptom, it is spending that is the disease. I mean, over the last ten years, federal spending has almost doubled in the economy and only increased about 15 to 16 percent and working families, they have the income increase at all. It is a spending problem. And right now, the president's taking spending from 20 percent of the economy to about 25 and it's on its way to 40. I mean, at this spending trajectory, working families are going to have tax rates that will make France's new socialist president blush, you can't do it.

Full interview: