Budget Watchdog: Spending is a bipartisan addiction

With Washington squabbling over the impending debt ceiling, government spending has come into focus with President Biden's hefty $6.9 Trillion budget raising hairs, and tensions on the Hill. Spending "is absolutely a bipartisan addiction" according to Mary MacGuineas, President of the Committee for a Responsible Federal Budget. MacGuineas saying that spending has gone up under both Democratic and Republican administrations, and when it comes time to pay for policies and programs, "the first thing the two parties do is start pointing fingers at each other," before comparing the country's leaders to children. As for how to arrive at a balanced budget, MacGuineas goes on, saying "we have to get in the habit of running much smaller deficits if not surpluses once the economy recovers."

Key Video Moments:
0:13 Spending is a bipartisan addiction

0:31 Finger pointing in Congress

0:58 Running smaller deficits, budget surpluses