Binding Budget Control Act News Today

Caymans, taxicab drivers, cops, postal workers are paying 30%. theres an issue about fairness. it isnt going to balance the budget, but its important for values and for showing fairness. >> let me ask you about my conversation with paul ryan yesterday. i tried to nail paul down on what rich was defined as. im really concerned when we raise taxes on filers $250,000 and above because as you know from your state, a lot of small businesses get caught there. >> thats right. >> so do you have a number...

Narrow thing on taxes, were kidding ourselves. unless you start talking about spending, unless you start talking about entitlement spending, its like willie sutton, why do you rob banks? thats where the money is. if you really want to get serious about the budget, you cant have this narrow conversation on how youre going to tax the wealthy. youve got to talk, among other things, about how youre going to deal with entitlements. >> and here was one of the things yesterday -- i consider myself to b...

>> right. >> medicaid, social security, defense spending, the obama team talks a little bit about cutting back defense spending but not in a significant way. not in a post -- i guess were now in the post-post-war era. not in a way that really fits our times. nobodys talking seriously about this. >> cutting defense spending maybe 8%, and still leaves us at a fairly high level. youre right. the debate about the economy still hasnt gotten serious. its still at the political level, the slogan level,...

We have to significantly consult spendi cut spending and deal with entitlements. i respect the deal ryan has put out. im hopeful to mark up and show what the budget should be on the senate side. but the reality is in the budget control act, weve got caps. weve made progress in making some significant cuts in spending. we have to make more. i disagree with the values decisions ryans budget makes, how it gets there, but we have to have a debate, we have to have a conversation. my hope is that this...

Latest updates on this topic.