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tv   Hannity  FOX News  February 28, 2010 9:00pm-10:00pm EST

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hope you enjoyed the show tonight from the fox studios in new york city, good night, god bless everybody, see you next bless everybody, see you next week. captioned by closed captioning services, inc. >> i don't have enough money to need my family but i make too much to get food stamps. i don't make ten dollars an hour. if you divide it between the taxpayers of the country we would stimulate the economy because we would payoff bills, payoff tax debts, create jobs and buy stuff that we need. that's how you stimulat >> there's no way you can look at this film and not be motivated to write your congressman. >> it got me thinking. it opened my mind. >> the burden is going to be on us. >> we are having an electronic run at the banks. they decided to kloss -- close the operation, close down the money accounts. if they had not done that their estimation was by 2:00 that
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afternoon 5 and a half trillion dollars would have been drawn out of the money market system of the united states. would have collapsed the entire economy of the united states and within 24-hours the world economy would have collapsed. it would have been the end of our economic system and political system as we know it. >> it is going to cost. my baby granddaughters are going to pay for it. >> it impacted me deeply. >> if you care about your country you need to see this film. >> september 18th, 2008 many call it the abyss. we were beyond the abyss. you have to understand in the history of the financial world we never had $786 billion be withdrawn from quote-unquote safe money market accounts. this was about the banks. this was about a withdrawal of maybe $2 trillion in the world's biggest margin. >> that's why when you make the point you have to do things
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quickly. >> it's a new sense of urge again see. >> it's not something that happened last year it has been in the making for 20 or 30 or 40 years. >> i have never seen a documentary like this. shocking, disturbing, frightening. everyone needs to see this film. >> we borrowed 55 trillion. >> you know what a trillion dollars is? a trillion dollars is one of these turned on its side piled dollar upon dollar so you get to a pillar 67 miles high. that's $1 trillion. >> he got it. he got it immediately. when he called these guys together he said boy we have a problem. >> we are not geniuses in economics. we are representatives of the people. >> welcome to the hannity special "generation" zero." the documentary examines not
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only the current economic cries is sis we are in but also how we got here. the movie completely refused the popular notion the massive deregulation caused the economic downturn and capitalism failed. what actually happened? this ground breaking film reveals a frightening alliance between democratic party and big business. it also turns to his for answers finding many of them within t the -- baby boomer generation. we will examine all of this we are joined by writer protector of "generation" zero" and the executive producer of citizen's united. welcome here. you showed it at cpac a massive hit. did you ever expect this kind of reaction? >> i have to be honest, no. i am shocked and obviously pleased. >> two different audiences, too. the first older and the cpac very young.
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it's the first time they have seen all of these facts put together in a 80 minute, 90 minute presentation. >> let's give a broad over view. we are going to show highlights from the film. the myth is capitalism failed, the myth is the banks failed the insurance companies failed. there's something deeper to the stories. >> it's rum why yous and greed at the same time. the cultural and social breakdown it has taken 40 years to led up to the september 18th crisis. >> september 18th at 2:00 in the afternoon the secretary of treasury went to the white house went up to capitol hill and told leaders of the government that our economy was go to melt down the world economy was about to melt down and we would have such a complete social melt down. how did that happen? something like our enemies the kremlin the nazis something we could never do.
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>> did it to our se sz. >> i always make the case that we will get into spes citicific here the idea the government would tell the car companies in the country government would tell banks and financial institutions they have though make risky loans that they know they are never going to pay back. >> the greatest begin rati genen rgs world war ii generation it would never dawn on them to take the type of risks these people did. the people that were the 60s hippies the people atwood stock who became the yuppies of the 80s and barons of 2000s and those around the country that helped cause this it is a remarkable thing. >> that leads us to the next clip. why don't you describe what this is. >> the next clip is where we show the mothers of the 1950s we
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show hear lives. june cleaver, donna reed. what their experiences were the great depression rgs world war 26789 their husbands, their boyfriends, their uncles were in this slaughter pen in world war ii. the 1950s their objective was to have a nurturing environment so that would never happen again to their children. >> let's roll the tape. >> people really misunderstand stand the 1950s. they think in terms of june cleaver and donna reed as if everybody was discriminating against women forcing them to stay at home. that isn't it at all. they grew up during the great depression. they were surrounded by death. they were surrounded by starvation and bankruptcies, homelessness. just to survive they had to go to a soup kitchen. these same young women their brothers, their uncles, their
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fathers were tortured on the death march, they were slaughtered like fish in a barrel on the beaches of normandy. they were tremendously trauchl tized by that. their main objective is their kids would never have to go through anything like that again. these are mothers who had suffered their whole lives. they considered a home with a white picket fence to be the dream of a lifetime. they lavished enormous amount of love on their kids. gave them everything they wanted gave them all of the attention they wanted. these kids pretty much grew up getting their own way. >> i watch this and it remind me of my parents. my father grew up peril poor, it was a big deal he signed up for world war ii. it was a big deal for him to get a 50 by 100 lot, a cape cod house 4 kids three older sisters
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and one bathroom. not good. but this was the american -- were they too indulgent because of their experiences? >> i think that's what we explain in the film we go through how that generation wanted to protect and really do the best they could for their kids because they didn't want them -- they had seen what the great depression had been and they had seen world war ii and the meat grinder. because of that cultural reality for them, they felt that they wanted to protect them and that's what they did. >> you see the ark of the story this epic you have to see where we came from where the boomer generation came from. look what we had. look what was bequeth to us a country with a large industrial base a country with sound finances. if you look at the star of the story from the 1950s there's no generation that could have ever started with more that was given to them by a country.
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>> straight ahead, a look at how and why the democratic party has aligned itself with big business. how those who survived the great depression produce the generation of spoiled brats and how those brats bring about the collapse of the american financial system. >> it was all about me. it was me. i am the most important person in the universe i am going to satisfy my desires. ♪ ♪ [ male announcer ] all we ask is that you keep doing what you've always done. ♪ the lexus rx. never has a vehicle been designed to feel so natural. ♪ see your lexus dealer.
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no problem. mind if i take a shortcut ? yep, sure. i knew the subaru legacy was the smart choice, what i didn't expect was the fun. the subaru legacy, feel the love. subaru, the only manufacturer with 2010 iihs top safety picks for all models. . >> welcome back to a hannity special "generation"s hero." tonight we are examining how the financial crisis came about. the documentary generation zero finds that it was a culture crisis. it suggests by 2008 the personal responsibility had completely disappeared from american culture and that put the entire financial system at risk. >> you look at the graph of the
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dow jones industrial average, there's actually a sharp corner where the graph goes up. that was the beginning of bubble. why did that happen in 1995. why didn't it happen in 1985. why didn't it happen in 2005? why didn't it happen at all. >> the depression era generation is retiring it understood the dangers of financial risk they had grown-up in the great depression. the baby boomers that took over only knew the upside only knew about prosperity. they took over wall street and had the hunger for profit they realized something else that up until this point the investment houses had been partnerships. >> all of the banks that blew themselves up they were all publicly traded bear staerns, neiman brothers, they used to be partnerships and now they became publicly traded. >> when you were a partner in a
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wall street firm you were a partner that meant joint and several liabilities. >> you have complete total liability for anything that happened. if one of your partners really screws up badly and loses billions of dollars when you are sued they go after the partner's assets that includes not just their stocks and bonds and bank accounts but their houses and cars and boats and rolexes. there is no shield. >> let me tell you, other than tell your wife that you have had an affair, i can't think of a more uncomfortable situation than going to the partners saying by the way i lost you 50 to $100 million which each will have to write a check out of the checking account not only would you be on your ass you would be out of business because you made a stupid insane business decision. >> those looking at the numbers making sure we are not going to take too much risk because i am not going to lose my house everything was handled in a
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fiscally peru didn't conservative basis. that's why when you look at the publicly traded companies there was no liability on the people who made the decisions. those guys their houses are safe, their boats are safe, their cars are safe. their wealth is safe it falls on the shareholders and taxpayers. >> back with me is the producer and executive producer and president of citizen's united david bosy. i am watching small business goes up and they go bankrupt. what you are saying here is these wall street firms are protected. these companies are protected. there's been a shift in the paradigm. >> one of the things steve brought forward is what we saw here.
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we had to have personal responsibility. this new generation it seemed like the concept of personal responsibility was rest in the mud. they lost track of who they were and it was all about me. >> the investment banks are incredibly important gommedman sax, these were partnerships with men and fought in world war ii and had tremendous fiduciary responsibility. we have two systems in the country socialism for the very poor and socialism for the wealthy. we have capitalism for the middle class. >> i never really thought about it that way. >> it is and the bailouts all of the financial bailouts the investment banking part of this is important. that is what we don't understand it's a bailout of the financially leets.
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>> it is interesting the incestuous relationship which you go into between the democratic party and big business. the impression a lot of people say that he is the republican party. big business they are in their pockets, et cetera. >> the democratic party is truly taken over that position of power on wall street. >> i don't want to get the republican party off the hook. it's a party of incumbents. the pay masters are wall street. 80 percent of those have come to the democratic party. democratic party shifted to the party to represent big financial interests. >> basically these companies they offer big donations to political candidates much both parties often times and they get fringe benefits. part of the fringe benefits things go bad they get bailed
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out. >> it's truly the party of incumbents. the corporations get hit up for donations from the politicians and the politicians come back and say what can we do for you. >> who's more corrupt? is it the poil cal -- political system that's corrupt? >> capitol hill is the problem not wall street here. >> inextricably linked between capitol hill and wall street. >> we had two trade in dollars of bailouts to financial firms. the bonus pool in 2006 was 70 milli billion on wall street firms on those who had to be bailed out in 2008. in 2009 the poll is $7 trillion. you have them paying taxes to bail out the firms no change in structure. >> they have the government there to help them. there's no incentive. if the free market there would
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be incentive. >> crony capitalicapitalism. >> does the trad matter? generation zero says it is putting us at risk what is the solution and how do we start out sourcing our world. >> trade is critical to the mess we are in. from the civil war to the 1960s america was the world's foundry. we won world war ii and 1 by out producing the germans and japanese essentially. we have de industrialized america through a series of trade agreements. this is the card that bought the saw... that cut the lumber... that built the extra space i needed to store more produce... that she sold to me to make my menu more organic. introducing ink from chase. the card that helped make it all happen because it's accepted in twice as many places worldwide as american express. with reward points worth 25% more when redeemed for air travel. make your mark with ink.
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. >> sean: tonight we are >> tonight we are talking about the new documentary "generation"
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zero." it talked about the trade roll helping with the financial crisis. if we don't fix that we in for a rough ride. >> we lost 6 maf unt and a half dollars since december. >> in the past we would lose jobs during the recession. we would get some of them back during booms. we will have the kind of preindustrialization we have had in the past. it's because of they are looking out for bankers hollywood producers and high-tech community. >> where is the concern about the more than 30 million americans who lost their jobs or who cannot fiend full-time jobs to work? >> americans consume about 5 percent more than they produce essentially by importing and borrowing from the rest of the world. that's why we have the big
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credit bubble. the low point the stock market was only worth about 8 or $9 trillion. >> people who traditionally represented the american workers are congressman, senators, they are more interested in representing the vested interest, wall street. u.s. chamber of commerce, business roundtable, more than $3 billion a year being spent on lobbying 435 congressman 100 senators one president. >> we will import more than we export to an enormous degree have to borrow from the rest of the world and v eventually haveo go bankrupt. >> we have signed bad deals first with japan now with china where they export more to us than they import. if china maintains a under valued currency from 2004 to 2008 the trade deficit averaged
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over $700 billion a year. we now owe the rest of the world $7 trillion. that's an enormous debt. the next time around we will owe foreigners they will be able to buy all of the stock of the publicly traded companies in america. they could buy out america. >> we are back with the producers of the film. is it basically you are saying in this film our government is bought and paid for, regulations we see coming out are directly corresponding to the amount of money that people are giving to these candidates? >> absolutely. i think that's why you have the tea party movement. the tea party movement the american working man nes we live under the consent of the government. the government is telling you you don't not have our consent. >> do you support free strayed and protectionism? >> i am a free trader. >> free trade but it's much more complicated than that. this is by far the hardest thing
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we have to deal with. when we talk about the deficit and the debt we have reindustrialized this country. if we have been free traders have we been gained? the economies on fire in the world china, india, brazil and east asia all of the jobs have been saved. >> if america puts protections in place first of all the chiep knees are using the fact that they own all of our debt or percentage of our debt. >> it's why people are shocked when they see this film. if you take the event horizon down the road that is the jam that every day we are getting in dooep deeper and deeper. >> the most frightening things i saw was when the chinese military went out there and said wait a minute, we are going to stop buying american debt we are going to dump their bombs. because we are supporting taiwan. >> exactly. as a foreign policy mechanism to force us into taking a different
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economy. >> i want to go back to this issue. i will use the car company as an example. it breaks my heart people i know, good people. you want to talk about an industrial area where we ought thob thriving, we created this. we owned this. it was ours. here comes the government and they regulate safety and emissions and they regulate gas millage and they regulate, regulate, regulate. >> big labor, big government and big capital. >> who is designing the cars? washington or detroit? >> exactly. >> this is by far the hardest part of this equation. this is why the stimulus bill hasn't worked. there's not an industrial jobs base out there where working men and women can have a job and support a family. >> there are soenl only so many ditches you can dig, bridges you can build. we need an industrial base. we used to build the automobiles and we used to have the factories and plants that used
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to provide to the world. now we have totally placed that overseas. >> i know a guy that runs a coal company. he wrote me a note the other day. he's dealing with the regulatory side of the government all of the time. he's oo job creator and energy producer. his ability to compete on the open market he is describing a nearly impossible situation to america to compete. is government hostile to that government or imbalances you are talking about? >> i think the industrial base look the things that thrived silicon valley, hollywood and financial services are politically well connected. they give huge campaign contributions and they have air cover by the government. the people that have not done that have suffered that's the industrial base. we are not going to get ourselves out of here on a service based economy. people who think that have not thought it through.
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you need a manufacturing base that can support the working men and women in this country. >> if we do not get back to that very core we are going to be in for a long, long road here. no upside to it in the near future. >> coming up, how our massive deficits are setting us up for a catastrophe and how future generations are going to pay. >> if we have a deficit for the next 8-9 to 10 years is slowly, slowly being punctured this idea. fast forward, my friends, when we add another $9 trillion onto the 12 trillion we already borrowed we are going to have revolution. right now, when you stay two separate times... with quality or any of these other choice hotels, you can earn a free night. one plus one equals free. no matter how you add it up, it's free. book now at
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need a lift ? hey buddy, i appreciate the ride, you know. no problem. mind if i take a shortcut ? yep, sure. i knew the subaru legacy was the smart choice, what i didn't expect was the fun. the subaru legacy, feel the love. subaru, the only manufacturer with 2010 iihs top safety picks for all models. >> sean: welcome back to our hannity special. generation zero. we watched the obama administration increase the national debt by an
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unprecedented amount. they say they are doing this to get us out of the last financial crisis. could they be bringing about the next big one? >> we have as a stands right now a $12 trillion national debt over 7 trillion in external debt or trade debt. almost $2 trillion federal budget deficit. >> in 2009 the federal government is borrowing over $1.8 trillion. that comes to more than $150 billion a month. next year it will be 1.4 trillion. we are going to continue borrowing over 100 billion a month over a trillion dollars a year. >> it doesn't take a ph.d. in economics to think you can run 1 trillion, 2 trillion, 5 trillion, $10 trillion of debt. >> these numbers are simply incomprehensible they are so large. >> the fiscal crunch can be dated fairly precisely. it's the year 2011. that is the year the first baby boomer turned 65 and qualifies
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for medicare benefits. >> the iceberg under the surface. i am talking about the liabilities in the form of promises that we have made to younger people today we will be able to pay them social security, pensions and healthcare for the rest of their lives strongly subsidized by government when we haven't the slightest ability to sustain and underwrite that funding without massive borrowing, borrowing beyond what we can afford. >> it means we would need to have somewhere in a bank $100 trillion right this minute earning interest. the problem with that is the total national wealth of the united states of the money that every single american has saved added up the value of every corporation, the value of eerie security, every stock, every bond.
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if you add all of that together it only comes to $50 trillion. so we have problems twi problem twice of the wealth of the united states to the elderly that will have to be paid one way or another. >> we continue now. nothing gets me angrier than this, robbing the piggy banks of our children and grandchildren. how long can we sustain 1.56 trillion of debt a year. >> we remember back in the 80s we used to say the debt we are creating is going to be hoisted on our grandchildren and great grandchildren. the debt today is now on us. it is not going away. it's getting bigger. $100 billion a month? it's unsustainable. >> if you look at this massive off balance sheet liability we have with us social security, medicaid, medicare worth
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$1 trillion the worst entitlement program is a political class that think they have a credit card that continues to run up the deaf silts. it's federal spending and the size of the deficits. >> that's what barack owe barometer ma has done is become the poster child for the debt. that's what he has done in my opinion to ingu ener guys the t party movement and why there's a christie where there's a scott brown, why there's these folks around the country getting el lekt -- elected that normally don't. >> the people that i met and the people that write me and people that call the radio program they are concerned it will be the first time ever in the history of this country that we hand off the country to them. we received it. people find that unconscionable. >> it really is. that's one of the things that this film i think does so
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beautifully. it really critical lieses that. there's this bridge between the folks who have gone before us the debt and the unborn and it is a bridge. we always -- the generations are always supposed to give this country because we are the greatest nation. >> the tea party they are knock mocked as being stupid. wh they really get it. >> you know what they get? this is a real crisis for our country. not a manufactured crisis like global warming or the healthcare crisis. this is an existential crisis. >> for all of the anger, i had anger and frustration with the republicans because their spending was getting out of control, too. they were using money to keep their power. as bad as they were nobody would have anticipated that in one year barack obama who nearly quadruple the deficit spending and raise it more in the second year with trillion dollar
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deficits. >> and quadruple the money supply. that's a big problem. this is a republican and democrat problem. the republicans spin out of control. it's one of the reasons they got kicked out of power. >> the republican congress we are spending, spending, spending. it was horrible. we became what they waut against in 1994. what we said we would do and fix and made a decision. newt gwinning rich -- >> the scale of this, how quickly it's moving the deficit and president obama's 2010 budget the deaf set is the size of federal bush's spending in 2001. the scale of this is getting out of control. even liberal economiseconomists. >> look at what's happening in
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some of these countries. >> warning about what will happen. coming up we will look at the generation's forgot pen man. it's not the folks making over $250,000. forgotten men today is our children and grandchildren. we are taking the money and leighing them with the debt. grandparents -- they are telling ourselves a little bedtime story that it will be okay. native language ] ♪ [ speaking native language ] [ moans ] [ speaking native langue ♪ [ speaking native language ] ♪ [ speaking native language ] ♪
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make your mark with ink. go to chase what matters. >> sean: tonight we are >> tonight we are taking a look at the roots of the financial crisis through the documentary film "againeration zero". it is extending a stern message to each and every american. >> it says if we are going to make the path great we are going to have do hard things and make hard decisions and tell people know they are not going to get bailouts. >> you have to the courage to make the hard decisions now or you are forced later on to be left with the consequences it's part of maturity being an adult having real judgment. >> there is a lack of quality in our leadership in every aspect and role and part of our public
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life. the real crisis in leadership begins in the homes in the households of this con three. until the american people understand they have to take responsibility of their own lives we can no longer depend on elites for their efforts and energy being dedicated to our interests we are going to continue with one of the most threatening crisis to our country. >> the problem we face is one of national character now. we have traditionally thought of the way of american life as one of thriving and growing in prosperity. we engage in a system of free enterprise and prosperity and opportunity we pass on to our children that means they are going to have at least as much opportunity as we ever had. what we are doing in response to this crisis is completely contrary to that.
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our political class is telling us what we need to do to save ourselves is to mortgage the future of occur country and the future of our children. that's a change in our national character and change in the national culture. that's an extreme thing to do. >> the forgotten men in the 1930s was the little guy who didn't happen to be in the program with the government who didn't happen to fall into one of the favored groups of the new deal. the little business struggling and waiting for the government experiment and recession to end. the forgotten men today is our children and grandchildren. we are taking the money and we are leaving them with the debt. >> we continue with dave fossy and steve ban non. i like what everybody said here. if you go to arthur brooks and he goes on about free enterprise, et cetera, et cetera we have to make hard decisions and tell people no you are not getting any more of our money.
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pretty simple. >> if you can't afford the house, don't buy it. you have to be told at some point. if you don't have a credit rating that can buy the car you don't buy the car. it's not nice. it's not politically corrected. it doesn't feel good. but it's the right thing to do. >> it's funny, when i grew up i didn't grow up -- when i started my adult life i had to drop out of college three times i couldn't afford to pay for it. i was doing construction painting houses laying tile doing everything i could do to get my next batch of money. i drove 2 and $300 cars i painted my landlord's apartment. what ever happened to that attitude? i never expected the rich to give me money i expected to go out and michigan own moy -- mak. >> one of the problems we have here and arthur brooks get to is all of the easy choices are in back of us all of the simple solutions are years and years ago. all we have in front of us today is hard choices but even worse they are all going to be
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unpopular. that's why i think the tea party is saying they are not looking for -- horse to come in. >> it's interesting. george bush made tough decisions everybody supported him and over time the demonzation begins. when it comes time to cut medicare, when it comes time to deal with social security and budget deafities you are going to see some cuts is the country going to accept that? we are at a crossroads, right? >> we are at a crossroads. i think that's what we will see. the tea party movement is showing that. >> will they sustain it? i am not talking about the tea party movement. >> i don't know if we are going to have a choice. this is tough medicine. this is tough medicine we have to take. >> nobody wants that. >> nobody ever wants that. that's how we got to this problem was this irresponsible behavior by the politicians and by wall street. >> this is the whole point to sort of tie this all together. you are dealing with a different
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mentality of my parents and my grandparents which had nothing. >> they had the responsibility. if they don't earn the money they couldn't go out and buy the car, the house. >> w where do we get to this pot where if you have the money or not they are going to give you a loep. >> it's the narcissistic behavior in the 60s where the self became everything. once you become so self centered it becomes the me generation. >> there's a political component to this there are people that have always wanted and advanced the idea of socialism in america. according to his need if you want to use the marks line from each according to their ability, right? >> or worse form capitalism where you keep getting bailed out where the wealthy keep the upside or elites keep the upside and the american tax payer, we nationalize the risk and privatize the profits. that's why you have such anger from the working men in this country. it's not fair. remember our currency is not
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backed up by gold or silver. >> you want it backed up by gold? >> no. it's backed up by trust. what we are seeing now i think for the first time in american history is really the american people are starting to lose faith and confidence in their government. >> two things came up recently. america's aaa bond rating is in danger. tim geithner suggested that it be open to the idea that america standard. >> look. those -- that's inconceivable to me. this is an exceptional nation. we have some problems. we have some tough medicine ahead of us. we are going to get ahead of it. we are going to get back on track. i have great faith in this country. i have great faith in our people in the working men and women of this country. >> coming up america's most difficult decisions may not be behind her. >> the revolutionary war period up through creating our constitution, the civil war
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period and the great depression in world war ii in those three periods of choosing people had to decide what kind of country we were going to be where we were going to go as a nation. i think we are entering a similar period. the choices over the next few years are among the most profound we will have seen in all of american history. [off-line] ( marker squeaking ) when business travel leaves you drained, re-charge withomfo suites. spacious rooms, free hi-speed internet, d free hot breakfast. comfort suites. power up. now stay two separate times with comfort suites... or any choice hotel and earn a free night. book at
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>> sean: in nation has survived many trials from the great wars of the la >> from the great wears of the country to september 11th generation zero suggests that co some of obama's challenges may lie ahead. take a look. >> we in my generation take absolute responsibility for squandering that wealth and for what we have done to future generations. my generation comes to a moment
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of history in which we live and those exceeding generations trying to right what we have absolutely failed in over the course of the last 40 years. it's a great burden. we are not the ones that will carry the burden. future generations of america certainly will. >> thomas payne said these were the times that try men's souls. certainly abraham lincoln in the great depression they had similar expressions about how we need to soldier on. we needed to continue to do the right thing. we needed to reach down within ourselves for resourcefulness and fortitude. these are times that will be remembered by future generations. no one should underestimate where we are today. we are either going to be a socialist style government with slow economic growth and more
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power in our politicians or fundamentally shift to basic american values to work ethic, entrepreneur shichl. de centralization, local government, volunteerism all of the things for the last 400 years that made us so dramatically different than europe and more productive than anybody else in the planet. >> becomes a type of testing and adversity and becomes a time when the best quality of every generation becomes to the surface and becomes important in steering the history in a good direction. each season has a vital function. america usually during journeys solve huge problems and more importantly we are doing things necessary for the evolution of civilization. theres had has to be a pier ide when we get rid of what's old. we make the ground fresh again for the young. >> the question of what that new order will be is up to us and to the younger generation and it
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als will be. >> we are back with the producers of this film. we were talking about in the break what it would take to get america's fiscal house in order. it would take dramatic changes take a change in attitude change in the culture. think it can happen? >> it has to happen. for us to continue as this great nation it has to happen. i believe it will happen. it takes politicians will courage and convicticonviction. i blooe there are men and women out there that can do it. barack obama is trying to be all things to all people. he's trying to spend and inflate his way through this problem. >> i was right about obama rich in idio lodge a sense of tone deafness i have never seen in any politicipolitician.
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will the american people accept that the gravy train is over and will politicians have political courage to say, sor sorry? >> if you look back at a real tea party it's the de isn't people who fight our wars run our civic association that is are the backbone of this country. they have the 1950s values roll up the sleeves and they are good folks. >> they just want to be heard. they want to say their peace and want to be heard and respected. look at how they are being vilified right now. look at the vietnam war how nixon was vilified and reagan is vilified. george bush is demonizdemonized. we will go through a period there are no easy decisions and popular decisions. the tea party movement is owe
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powerful. the american people will have to have the back of new generation political lead deers. a watched gingrich up close the contracting of america i think the best thing george w. bush did was kept the country safe. he never waived on the idea we have to be on the offense which we weren't in the 1990s. i don't know, these problems seem worse to me. >> first of all barack obama has taken us back to bill clinton era. look, we can build, even though we have a calamity here, a problem here, we have built on the ashes before after the great depression and after world war ii. we can do it again. this country can do it. we are the greatest country in the world and we can do it.
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>> we have a time frame. i think the day of reckoning is coming. so much of debt is owned by china and the golf emirates and russia the day of accounting is coming. the further we go down this road without making fundamental changes the fewer our options we have always had a country with a lot of different alternatives and options. that's why i think these next few years are -- oo too it has to start with two models contract work, reagan work, reagan inspired people he changed the world. economically he made the world a safer place. those would be my two models. >> first of all this film is a wake-up call. i think it will inspire people if they watch it. ronald reagan was my inspiration. that's what we tried to do here. >> great film. really enjoyed it and appreciated it. thank you for being with us. >> that is all of the time we have left to see