Broke Bank Mounting

  • Aired:  06/29/11
  •  | Views: 134,300

If Republicans take raising taxes off the table completely when looking to reduce the deficit, they're saying 'I would do anything for love, but I won't do that.' (4:58)

>> Jon: WELCOME TO "THE DAILY

SHOW."

MY NAME IS JON STEWART.

OH, WE GOT A BIG ONE TONIGHT.

OUR GUEST TONIGHT, MR. TOM

HANKS.

HE IS MAN SO LIKABLE, SO POLITE

THAT HIS NAME ACTUALLY CONTAINS

THE WORD "THANKS."

[LAUGHTER]

IT'S RIGHT IN IT.

WE BEGIN TONIGHT WITH THE

ECONOMY, WHICH, AS MANY OF YOU

ARE AWARE, SUCKS.

[LAUGHTER]

RIGHT NOW WE'RE LOOKING TO PAY

DOWN $14.3 TRILLION OF DEBT.

[AUDIENCE REACTS]

[LAUGHTER]

APPARENTLY I'M READING A SCARY

STORY TO MY CHILDREN.

THEY'RE GOING TO DO ALL THE

NOISES LIKE IT'S "PETER AND THE

[BLEEPED] WOLF OR SOMETHING."

WE'RE GOING TO PAY DOWN $14.

TRILLION OF DEBT WITH A

ECONOMY STRUGGLING TO PRODUCE

JOBS, IN LARGE PART BECAUSE

AMERICAN WORKERS STILL

STUBBORNLY CLING TO THE IDEA

THAT THEY SHOULD BE MORE HIGHLY

COMPENSATED THAN SAY SUICIDAL

CHINESE COMPUTER PART FACTORY

HELP.

[LAUGHTER]

IF IT'S GOOD ENOUGH OF THESE

DESPONDENT PEOPLE, WELL, NOT TO

WORRY, PEOPLE.

>> I JUST WANT TO SAY A FEW

WORDS ABOUT THE ECONOMY BEFORE I

TAKE YOUR QUESTIONS.

>> Jon: ECONOMY PRESS

CONFERENCE.

HOORAY!

[CHEERING AND APPLAUSE]

SO WHAT DO WE DO, BOSS?

>> THE STRUGGLES OF MIDDLE-CLASS

FAMILIES WERE A BIG PROBLEM

BEFORE THE RECESSION HIT IN

2007.

THEY WEREN'T CREATED OVERNIGHT,

AND THE TRUTH IS OUR ECONOMIC

CHALLENGES ARE NOT GOING TO BE

SOLVED OVERNIGHT.

>> Jon: BUT BY MONDAY...

[LAUGHTER]

MONDAY?

YOU GOT A PLAN?

>> ONE OF THE MOST IMPORTANT AND

URGENT THINGS WE CAN DO FOR THE

ECONOMY IS SOMETHING THAT BOTH

PARTIES ARE WORKING ON RIGHT

NOW, AND THAT'S REDUCING OUR

NATION'S DEFICIT.

>> Jon: PHEW.

WELL, THANK GOD WE KNOW WHAT TO

DO, AND THAT'S NOT GOING TO BE

TOO HARD, RIGHT?

>> WE'RE GOING TO HAVE TO TACKLE

SPENDING IN THE TAX CODE TO MAKE

IT EASIER FOR ENTREPRENEURS TO

PATENT A NEW PRODUCT, REBUILDING

OUR TRANSPORTATION STRUCTURE,

ELIMINATE WASTE, TACKLE

ENTITLEMENT, EXTEND THOSE

MIDDLE-CLASS TAX CUTS, HELP

BUSINESSES CREATE JOBS.

WE GOT TO SEIZE THIS MOMENT, AND

WE HAVE TO SEIZE IT SOON.

[LAUGHTER]

>> Jon: WHAT?

OF COURSE, THE FIRST THING

BEFORE WE GET TO ANY OF THAT

STUFF...

[LAUGHTER AND APPLAUSE]

THAT'S WHY WE GET PAID THE CABLE

MONEY.

[LAUGHTER]

THE FIRST THING WE DO BEFORE WE

GET TO ANY OF THAT GOOD FIXING

THE ECONOMY STUFF, DEMOCRATS SAY

WE HAVE TO RAISE AMERICA'S $14.3

TRILLION DEBT CEILING BEFORE

AUGUST 2nd, BECAUSE IF WE

DON'T DO THAT, UH, WAIT, WHAT

HAPPENS AGAIN?

>> ARMAGEDDON.

>> ARMAGEDDON.

>> ARM GETTEN.

[LAUGHTER]

>> Jon: NO, THAT WASN'T IT.

NO, NO, NO, THAT'S RIGHT, YOU'RE

RIGHT, TOTAL COLLAPSE OF OUR

ECONOMIC SYSTEM.

BUT THAT'S JUST THE PREREQUISITE

TO ENACTING ANY OF THOSE OTHER

SOLUTIONS THE PRESIDENT WAS

TALKING ABOUT.

I'M SORRY, REPUBLICANS, YOU

WANTED TO SAY SOMETHING ABOUT

THIS.

>> IF ALL WE DO IS EXTEND THE

DEBT LIMIT AND DO NOT START

DEALING WITH THE FUNDAMENTAL

FACT THAT THE AMERICAN

GOVERNMENT SPENDS MONEY IT

DOESN'T HAVE.

>> Jon: YES, NO, NO, NO, I

UNDERSTAND.

ARE THERE OTHER THINGS THAT...

>> TAX INCREASES ARE OFF THE

TABLE.

>> Jon: OH.

WELL, YOU KNOW THERE'S ONLY TWO

WAYS TO REDUCE THE DEFICIT.

YOU CAN CUT SPENDING OR RAISE

TAXES.

YOU TAKE ONE OF THOSE OFF THE

TABLE COMPLETELY, YOU'RE NOT

REALLY NEGOTIATING.

IT'S LIKE SAYING, "I WOULD DO

ANYTHING FOR LOVE, BUT I WON'T

DO THAT."

YOU REALLY WOULDN'T THEN DO

ANYTHING FOR LOVE.

SO I QUESTIONS WHAT I'M SAYING

IS MEATLOAF'S PREMISE IS FAULTY

IS WHAT I'M SAYING.

[LAUGHTER]

WHAT ARE THE DEMOCRATS

COUNTER-OFFERING?

>> IT ALMOST MAKES YOU WONDER IF

THEY AREN'T TRYING TO SLOW DOWN

THE ECONOMIC RECOVERY FOR

POLITICAL GAIN.

>> Jon: OH, FOR GOD'S SAKE.

ALL RIGHT.

WHAT DO WE HAVE, UNTIL AUGUST

2nd BEFORE WE HIT ARMAGEDDON.

IS THERE ANYTHING YOU AGREE ON?

>> THEY'RE NOT DEALING IN

REALITY

>> MY REPUBLICAN FRIENDS SEEM TO

BE LIVING IN A FANTASY WORLD.

>> Jon: OH, ALL RIGHT.

JUST OUT OF CURIOSITY, HARRY

REID, IF THEY'RE LIVING IN A

FANTLY WORLD, WOULD YOU STILL

EXIST?

[LAUGHTER]

WELL, ONE THING IS CLEAR,

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