BILL O'REILLY: I think that you are much more friendly to a nanny state than I am. I'm more of a self-reliance guy, you are a more of a big government will solve your problems guy. That's it?
PRESIDENT OBAMA: And I disagree with that because I think what used to be considered sensible we now somehow label as liberal. Think about it: Social Security, Medicare.
O'REILLY: But you are pay into that. It's the freebies that are are the problem.
OBAMA: What freebies are we talking about? Welfare actually is worth less now than it was 20, 30 years ago. It's worth less than it was under Ronald Reagan.
O'REILLY: Take a look at the disability explosion. I mean, it's insane. The work place isn't any more dangerous now than it was 20 years ago. It's through the roof.
OBAMA: Bill, the point is we have not massively expanded the welfare state, that's just not true. When you take a look at it actually that the levers of support that we provide to folks who are willing to work hard are not that different than they were 30 years ago or 40 years ago or 50 years ago. You and I took advantage of certain things. I don't know but I got some loans to go to college.