WALLACE: All right. Let’s turn to the president’s agenda. What’s wrong with the idea the president laid out in the State of the Union that, yes, at this time particularly when we have a weak recovery, we need to spend more money? He calls it investment on education, on infrastructure, on research, especially when Mr. Obama says, if you make cuts in other places we won’t add — his words — a dime to the deficit.
PAUL: Yes, he said that about 20 times in the last four years. Meanwhile, he added $6 trillion to the debt. I think it’s really disingenuous. He said in his speech he reduced the debt by $2 trillion. Well, he added $6 trillion and that means because he didn’t add $8 trillion, he’s reduced it by $2 trillion? That’s absurd. He listed about 50 new programs and says they’re not going to cost you anything. We’re going to squeeze the money out of the rich. The problem is, is whenever he tries to squeeze more money out of the economy, he is slowing it down. We slowed down in the fourth quarter, and it’s not because government spending is going down. Government spending is still going at pace. We still have plenty of government spending. In fact, we spent more the fourth quarter last year than the third quarter and we spent more than the previous year. We’ve never had a real cut in spending in recent history. So I think he’s just — he’s flat-out wrong.
February 18, 2013 at 12:45 PM EST