Page 45 - Borrowing Authority News Today

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 renegotiate borrowing authority for an...

$16 trillion in ious out in the world. in a couple of months, in february or march, they are going to have to renegotiate borrowing authority for another trillion or two dollars and if the president can fix and put us on some sort of path of restoration for the economy, that is a payoff for everyone in the community, not just his base. he has got to think much more broadly, the job of the president is to find the next stage of good for a real majority. and hes capable of doing that. >> >> lets l...

Economy through a better and cleaner tax code will. now, the president has signaled a willingness to do tax reform with lower rates. republics have signaled a willingness to accept new revenue if it comes from growth and reform. so, healths start the discussion there. im not suggesting we compromise on our principles but i am suggesting we commit ourselves to creating an atmosphere where we can see common ground, where it exists and seize it. if we cannot find common ground we will continue to o...

But the really problem is in february when out of the necessity who is president will have to go to the congress and say we need a trillion or two trillion in borrowing authority to pay our debts. we have got i mean, this is a conservative message which people, whether they agree with you or not. >> this is real. >> this is real. and we are on a spending binge. >> woodward will appear on "fox and friends" to discuss the economy and next fiscal cliff is just around the corner. there are fewer tha...

Case against him very strong there. one thing i would agree with you on is that its beyond unsustainable. we have got to -- i mean, people are talking about the fiscal cliff coming. new tax increases, spending cuts and so forth. but the real problem is going to be in february when of necessity, whoevers president, is going to have to go to the congress and say, we need another trillion dollars, maybe $2 trillion in borrowing authority to pay our debts. we have got -- i mean, this is your conserv...

Before the election. its going to carry on after the election and by the way, weve run out of borrowing authority roughly two weeks after the election. >> dont you think this is going to be a big motivator? people who worry about the debt are going to be going, theyll raise it again. >> it wasnt a motivator last august when we were facing a downturn? >> there wasnt an election two weeks later. >> youre want -- not going to get a deal before the november election. youre going to get a debt crisis...

To know that we burned through the cash or however you want to phrase it faster than we even predicted and we are now look at $16 trillion worth of debt and going back to the american taxpayer and asking for permission to let it go even higher. >> huge risk. but for the president, if hes hurting and needs a boost in his bid for a second term, a chance to try to vilify republicans and say, these people are trying to keep the country from succeeding, they are causing this crisis, they wont give me...

>> bret: most republicans advocate for a leaner, meaner federal government. today, president obama unveiled his own plan to make that happen. chief white house correspondent ed henry tells us what is in it. >> one day after asking congress for $1.2 trillion and more borrowing authority, president obama declared he wants to shrink government. >> with or without congress im going to keep at it. but it would be a lot easier if congress helped. this is an area that should receive bipartisan support....

>> bret: every week viewers vote for your choice online in the friday lightning round. this week, charles pick won by a land slide. well reveal what that was in a moment. but first, one day after asking congress for $1.# trillion in borrowing authority, the president announced today he wants to shrink the government. take a listen. >> with or without congress i am going to keep at it. it would be easier if congress helped. this is an area that should receive bipartisan support. making our govern...

That is not the reaction the white house wants. >>shepard: what do the republicans say? >>guest: they are saying it is a good start because the president says that if this moves forward it will save $3 billion in money by merging all of the agencies but you hear republicans saying yesterday the president asked for $1.2 trillion in more borrowing authority, so is this really going to save that much money in the grand scheme? here is a statement from a spokesman for senator mcconnell who said afte...