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LET'S GO TO MELISSA.
>> THIS MORNING, PRESIDENT OBAMA
IS SENDING CONGRESS HIS
LONG-AWAITED BUDGET FOR 2014, AN
EFFORT TO TAME RUNAWAY DEFICIT
THAT HAVE SOARED ABOVE ONE
TRILLION DOLLARS.
BUT HE COULD BE IN FOR A FIGHT
FROM REPUBLICANS WHO OPPOSE
RAISING TAXES AND SOME DEMOCRATS
WHO AREN'T HAPPY ABOUT CUTS TO
SOCIAL SECURITY AND MEDICARE.
IF THIS PLAN IS ENACTED, IT
WOULD AFFECT ALMOST ALL
AMERICANS, FROROM T THE WEALTHY
THE MIDDLE CLASS AND THE POOR.
LANCE ROBERTS IS HERE TO EXPLAIN
HOW IT COULD AFFECT YOUR FAMILY
AND MAYBE EVEN YOUR RETIREMENT.
GOOD MORNING TO YOU.
>> GOOD MORNING.
>> WELL, 1.8 TRILLION IS WHAT'S
ON THE LINE.
IT'S WHAT THEY'RE TRYING TO CUT.
WE KNONOW CUTS HAVE TO BE MADE
MAKE THAT HAPPEN.
EVERYONE IS WORRIED ABOUT THE
BOTTOM LINE.
THAT'S CAN I FEED MY FAMILY?
CAN I PAY MY MORTGAGE?
THIS IS REALLY GOING TO AFFECT
EVERYBODY?
>> IT WILL.
THERE'S -- FIRST OF ALL, LET'S
SAY THAT THIS PLAN WAS DEAD ON
ARRIVAL THE SAME AS IT WAS LAST
YEAR.
THIS IS ALREADY KIND OF ANGERED
THE REPUBLICANS AND THE
DEMOCRATS BECAUSE OF THE IMPACTS
TO SOCIAL SECURITY AND MEDICARE.
ONE OF THE BIG SWEEPING CHANGES
TO ALL OF THIS IS WHAT'S CALLED
A NEW IMPLEMENTATION OF WHAT'S
CALLED CHAINED CPI.
WHAT THAT IS IS THAT LAST TIME I
WAS HERE, I OPTED YOU OUT OF A
JOB.
SO NOW SINCE YOU'RE NOT WORKING,
YOU CAN NO LONGER AFFORD STEAK,
SO YOU HAVE TO BUY CHICKEN.
SO CPI IS ADJUSUSTED FOR THOSE
LOWER COST GOODS AND IT LOWERS
THE RATE OF INFLATION.
THE INFLATION RATE IMPACTS YOUR
JOB.
WHEN YOU GET YOUR COST OF LIVING
ADJUSTMENT, THAT'S CPI.
SOCIAL SECURITY BENEFITS.
THIS IS WHAT'S ANGERING
EVERYBODY.
THE RATE WILL LOWER THE AMOUNT
OF SOCIAL SECURITY THAT PEOPLE
RECEIVE BY UP TO A THOUSAND
DOLLARS.
THAT'S GOING TO IMPACT THEIR
ABILITY TO LIVE.
THEY'RE ALREADY SQUEEZED AS IT
IS BECAUSE THE REAL COST OF
LIVING, GASOLINE IS UP 50 CENTS.
FOOD IS UP.
WE'RE HAVING A HARD TIME MAKING
ENDS MEET.
THIS IS GOING TO IMPACT THAT.
THAT'S WHY THE DEMOCRATS ARE
AGAINST THIS.
>> EVERYONE OUR AGE JOKES WE
WON'T HAVE SOCIAL SECURITY AND
THAT'S A THING WE TRY TO ACCEPT
AND THEY'RE SAVING FOR THAT.
PEOPLE WHO ARE THERE, THAT IS
VERY DIFFICULT.
SO WHAT HAPPENS HERE?
>> THAT'S THE WHOLE THING IS
THAT THE MORE THAT WE IMPACT THE
ELDERLY AMERICANS, BETWEEN THE
AGES OF 55 AND 85, THE HARDER
IT'S MAKING IT FOR THEM TO LIVE.
OUR BABY BOOMER GENERATION IS
MOVING INTO THAT AGE BRACKET.
IF YOU LOOK AT THE NUMBER OF
PEOPLE GETTING JOBS, THOSE
BETWEEN 25 AND 35 ARE GETTING
FEWER JOBS.
THE ONES BETWEEN 65 AND 75,
THEIR JOB RATE IS INCREASING
BECAUSE THEY HAVE TO WORK.
THEY CAN NO LONGER RETIRE.
>> LET'S TALK ABOUT HOW THIS
AFFECTS EVERYBODY.
WE ALWAYS EXPECT FOR WEALTHIER
PEOPLE TO GET THOSE BIG TAX
INCREASES.
BUT WILL EVERYONE, MIDDLE CLASS
AND THE POOR, ALSO SEE INCREASES
THAT WILL IMPACT THEIR D DAILY
LIFE?
>> AUTOMATICALLY, YOU'VE SEEN
THIS IN THE FISCAL CLIFF,
PAYROLL TAXES WENT UP.
IF YOU LOOK AT THE
IMPLEMENTATION OF WHAT YOU'RE
SEEING IN TERMS OF THE TAX RATES
HE WANTS TO IMPOSE, IT IS NOT
JUST SEQUESTER TO THE TOP 2% OF
THE POPULATION.
IT WILL IMPACT ALL ACROSS THE
BOARD.
HERE'S THE IMPORTANT THING.
WE'RE TALKING ABOUT JOBS.
PEOPLE CAN'T GET JOBS.
THE REAL UNEMPLOYMENT RATE IS
MUCH HIGHER THAN WHAT'S
REPORTED.
THE TOP 3 PERCENT OF THE
POPULATION CREATES ABOUT 50
PERCENT OF THE EMPLOYMENT IN THE
COUNTRY.
>> IS THERE ANY WAY IN YOUR MIND
THAT WE COULD HELP OUR DEFICIT
BESIDES AFFECTING EVERY ONE OF
US?
IS THERE ANY OTHER WAY?
>> YEAH.
STOP SPENDING.
LOOK.
IT'S A FUNCTION OF SPENDING AND
REVENUE.
THE EASIEST THING WE DO IS GUT
OUR MILITARY.
SO WE -- HERE WE HAVE NORTH
KOREA THREATENING A SHOOT OFF A
MISSILE.
WE CONTINUE TO GUT OUR MILITARY
BECAUSE IT'S AN EASY PLACE TO
GET MONEY.
BUT THE REALITY IS WE'RE
CONTINUING TO SPEND MORE AND
MORE ATT A RATE WE CAN'T SUSTAI
BY WHAT WE'RE PRODUCING.
>> WE COULD TALK ABOUT THIS ALL
DAY.
I HAVE SO MANY QUESTIONS FOR YOU
AND OUR VIEWERS DO.
AND YOU'RE GOING TO STICK AROUND
AND ANSWER THOSE.
WHAT YOU CAN DO IS GO ONLINE AND
YOU CAN GO TO MY FOX LIVE AND
TALK TO YOU.
HOW LONG ARE YOU GOING TO STICK
AROUND?