Page 44 - Borrowing Authority News Today

>> well, a controversial new idea picking up steam in the media ahead of the showdown over raising the nations borrowing limit, our debt limit. the one trillion dollar coin, intended to allow the president to completely ignore the debt ceiling and just keep on spending on the nation that weve got this trillion dollar coin in the bank. here is the idea. the treasury department would mint a one trillion dollar coin, normally supposed to be federal reserve that makes our money, but this would be do...

Lawmakers and nobel laureate paul krugman say the treasury department has the power to mint the supercoin which in turn would be used to raise the debt ceiling. and white house press secretary jay carney added some fuel to the fire when he refused to rule it out. >> do you believe you have a power to mint -- >> there is no plan "b." there is no backup plan. there is congress responsibility to pay the bills of the united states. >> thats a little evasive in your answer. but i say -- are you narro...

Revenue neutral or actually lowers rates and lowers the overall burden, tax reform that is conducive to economic growth were all for it. what democrats want. they just got a tax increase last week and they didnt cut any spending in that deal. now they want additional taxes and they wont cut any spending, in fact the president said, dont even debate the debt ceiling. just give me more borrowing authority. let me have more revenue so i can continue to spend. that will not solve the problem. we hav...

1323 points. the super-committee which was supposed to identify spending reductions fell apart like many of us thought it would and the scheduled cuts in the last agreement which were supposed to take place were just suspended and postponed five days ago in the fiscal cliff agreement. now it is time to raise the debt ceiling again and we have yet to cut one dime from the last agreement. spending is the problem we have to address that problem. bill: now democrats have shown their hand a little bi...

Quoted mcchrystals aides criticizing. and he talked about it in an interview. >> i was awakened about 2 in the morning and i was told there was a problem, that the rolling stone article was about to come out and it was bad. >> shannon: mcchrystal resigned as administration in afghanistan after that article was published and in the book writes no matter how he judged the story for fairness and accuracy, the responsible was his own, you can hear much more from general mcchrystal tomorrow night in ...

Lets listen to what he said. >> now, that he has the tax rates he wants his calls for balance means he needs to join us in the effort to achieve meaningful spending reform. the president may not want to have this debate but it is the one he is going have because the country needs it. >> does the country need this debate? two years ago we went from 14 to $16 trillion debt ceiling and everybody said how horrible that was. now, we are talking about going from 16 to 18 trillion and that only takes u...

Quoted mcchrystals aides criticizing. and he talked about it in an interview. >> i was awakened about 2 in the morning and i was told there was a problem, that the rolling stone article was about to come out and it was bad. >> shannon: mcchrystal resigned as administration in afghanistan after that article was published and in the book writes no matter how he judged the story for fairness and accuracy, the responsible was his own, you can hear much more from general mcchrystal tomorrow night in ...

Harry reid hasnt touched the budget in three years. tell us where to reduce spending because that has to happen if we solve this problem. that is the adult responsible thing to do and frankly what the american people are looking for us to do. lets do it for a change instead of saying give us more revenue and we promise we will cut spending later. give us more borrowing authority. we promise we will cut. this is the looc lucy and chare brown and the football and we are not going to kick it this t...

Mitch mcconnell. lets listen to what he said. >> now, that he has the tax rates he wants his calls for balance means he needs to join us in the effort to achieve meaningful spending reform. the president may not want to have this debate but it is the one he is going have because the country needs it. >> does the country need this debate? two years ago we went from 14 to $16 trillion debt ceiling and everybody said how horrible that was. now, we are talking about going from 16 to 18 trillion and ...

And yet he prevails because of a coalition ever expanding that believes in a certain role for government, bob, that is opposed to where the republicans would like to take it. >> i think the big picture here is that president obama has got to deliver on the big issue, which is fixing the financial house of the u.s. federal government, it is in disarray, not just the fiscal cliff but $16 trillion in ious out in the world. in a couple of months, in february or march, they are going to have to reneg...