Page 22 - Debt Ceiling Issue News Today

Well with each other, talking to senator mcconnell about that relationship before. he talked about how well he can pick up the phone and call vice president biden. it happened back in the debt ceiling issue in 2011 and they worked well together over 23 years in the senate. but that aside, whatever they agree to together on the phone behind closed doors. you still have to have the votes in both chambers. in the senate its complicated because you have to get over that 60-vote flesh hold. republica...

$600 billion, $600 billion to $800 billion in revenue by raising the tax rates. in an economy where we are talking about a $16 trillion debt that is going to grow to 18 or are $20 trillion the next ten years it does nothing to address that and as lindsey graham said the only chance that republicans have to really deal with entitlements which are the main drivers of our debt but also other spending programs is to really dig in as he said, have the courage of their convictions when it many coulds ...

To do anything about stopping real problem?lem fo if you take the amount raised. $600 billion increase in revenue to the government over the next ten years. $600 billion in terms of a deficit of $16 trillion going up by another 2.5, $3 trillion in the next ten years is peanuts. >> you heard lindsey graham talk about entitlement reform and that is what republicans want to press and a debt ceiling issue. if you look at sentiment among democrats especially further to the left since the election the...

Cave on principles and the real issue here is spending. its a spending problem that is demonstrated by the debt ceiling issue that just came up. >> thats right. >> so where do we go from here, congressman gohmert? its been put squarely in the senate in their hands. and we heard from harry reid today." he doesnt have any intention of moving forward. president at the last hour is reaching out finally to some republicans in the senate but they dont have the right to originate constitutionally spend...

Dug in and nothing is getting done? >> well, its -- first of all good morning, thomas. its easy to be critical, because he hasnt done anything he entire two years hes been speaker other than haul up his white flag of surrender and roll over every time barack obama wants something. we have a huge problem. its not our taxes. were spending way too much money. as your previous guest was just talking about, were hitting the debt ceiling, 16 trillion, they want to increase it to 18 trillion. by 2022, ...

>> bob: you extend it for everybody except for that group of people. >> eric: if they are not -- let me ask you. >> dana: i see. >> eric: will they get -- >> dana: i see what he is saying. its like when you reduce the rate of growth, you get credit for saying that you cut spending. its a game. its a word game. >> bob: keep in mind, whatever legislation happens can be retroactively made to january 1. when you get to june working on this, you still have the debt ceiling issue here. she is right to...

>> bob: you extend it for everybody except for that group of people. >> eric: if they are not -- let me ask you. >> dana: i see. >> eric: will they get -- >> dana: i see what he is saying. its like when you reduce the rate of growth, you get credit for saying that you cut spending. its a game. its a word game. >> bob: keep in mind, whatever legislation happens can be retroactively made to january 1. when you get to june working on this, you still have the debt ceiling issue here. she is right to...

So there was no way for them to reveal anything other than they had nothing. >> well, they did what they should have done. they got a smaller room and it made it look bigger. clearly, there is not the strength in numbers there anymore. part of it is because the business community has more or less abandoned them on this issue. they certainly will on the debt ceiling issue. also, because president obama is much more comfortable living with the consequences of a standoff than they are at this junct...

So there was no way for them to reveal anything other than they had nothing. >> well, they did what they should have done. they got a smaller room and it made it look bigger. clearly, there is not the strength in numbers there anymore. part of it is because the business community has more or less abandoned them on this issue. they certainly will on the debt ceiling issue. also, because president obama is much more comfortable living with the consequences of a standoff than they are at this junct...

Republicans would save families from a worse tax increase then you can have spending and entitlements fights next year. there will be a debt ceiling issue, still the continuing resolution for funding the government. its not as if everythings solved this month. >> kirsten? you seem similarly unimpressed by the scenario. >> as she so often i say, i have to say. >> the deal that seems to be on the table is the 37% rate. >> chris: lets -- the top tax rate is 35%. if the bush tax cuts lapse it goes t...