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Payroll tax cut extended

Bernard McGuirk
Bernard McGuirk, Executive Producer of the Imus in the Morning radio show, filled in for the vacationing Sean today and hit the ground running assaulting President Obama. “Obama spends money that we don’t have like one of the Housewives of Beverly Hills,” laughed McGuirk, “In 220 years we’ve accumulated 10 trillion dollars in debt from George Washington to George Bush and under President Obama it’s gone up almost 5 trillion.” McGuirk continued, “You give him another four years and he’ll abandon all pretense of fixing this hole we’re in.” “This is, as John McCain called it, generational theft,” McGuirk piled on, “This President is awful.” While the debates rage on, one thing is very clear, anyone is better than what we have now.

Peter King
Congressman Peter King joined Bernard to talk about the payroll tax battle waging in Washington. “The Wall Street Journal really savaged the Republicans on this one,” began McGuirk, “The Wall Street Journal concluded that Republicans have thoroughly botched the politics of this issue.” “There is a silent majority of House Republicans want the 2 percent tax holiday to continue and they want to extend unemployment insurance,” King explained, “Listen, I was not overly satisfied with the Senate but President Obama did give in on the millionaire’s tax and Democrats did agree to some keystone projects in the business.” King continued, “I think this is hurting us because we are the party of tax cuts and we’re not getting credit for this and some people in our party can be too rigid and come across too holy.” “This is a cynical tax warfare cut though,” pushed McGuirk, “People say this d oesn’t really grow the economy and it hurts the social security trust fund.” “This is not going to have a major impact but being bogged down in this issue going into the Christmas break is not good,” honestly responded King, “We have some big battles next year.” Those battles are indeed very important and they’re ones that need to win. For more on the payroll tax deal and to read the Wall Street Journal's editorial, click here.

Pat Buchanan
In the wake of an announcement that the House and Senate have come to an agreement on a payroll tax extension, former presidential candidate Pat Buchanan shared his thoughts on why they eventually came to an agreement. “It does seem that Congressman Boehner got rolled on this,” offered McGuirk, “He botched everything and now the President is coming off as the tax cutter.” Buchanan agreed, “Boehner thought he could play hardball and get Harry Reid to come back but they weren’t coming back for a vote and Republicans would’ve taken a continued beating over the holiday break.” The former presidential candidate continued, “This was the right thing to do because the American people have a very short attention span and this whole thing will be forgotten by January 1.” Ultimately this was a PR battle that Republicans couldn’t win and the agreement will, as Buchanan explained, save the party from a long extende d battle with little upside to a victory. For details on the agreement including some reaction from Speaker Boehner, click here.

Show Guests

Pat Buchanan

Patrick Joseph "Pat" Buchanan (born November 2, 1938) is an American conservative political commentator, author, syndicated columnist, politician and broadcaster. Buchanan was a senior advisor to American presidents Richard Nixon, Gerald Ford, and Ronald Reagan, and was an original host on CNN's Crossfire. He sought the Republican presidential nomination in 1992 and 1996. He ran on the Reform Party ticket in the 2000 presidential election.

Peter King

Peter T. King (born April 5, 1944) is a Republican politician from the U.S. state of New York, currently the United States Congressman for the state's 3rd Congressional District. Along with Chris Lee, who represents New York's 26th congressional district, King is one of only two Republicans to represent the state of New York at the federal level. King was considered a possible candidate for United States Senate in 2010, but has decided to run again for his congressional seat. However, in January of 2010, King said he was reconsidering a Senate run.

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