Page 12 - Debt Increase News Today

Appears they want to, because everyone is afraid to say that the full fate and credit of the government is not in play, what should the deal be, if any? >> one time in the 80s, there was an agreement that we would cut so much cash we would raise tacks if we cut twice as much in spending. the republicans got tricked into that. i dont like these deals. what kind of thing can you pass when you pass the debt increase that you can trust? i cant imagine anything that would talk me into voting for it. ...

The 2012 budget and the real battle is get to the 2012 budget and how to solve a long term deficit. >> they think its a real fight, at least the republicans do. listen to paul ryan. he said he will not rubber stamp a debt increase. >> nobody wants to play around with the countrys credit rating, nobody wants to see default happening. we also think its important to get a handle on future borrowing as we deal with raising the debt limit. nobody is saying we want to aseed to default, we want cuts in...

Entitlement. >> these six people could hold the key to a real break through. >> and the debt ceiling is not a real fight. the real fight will be over the 12012 budget. thats where the battle lines should be drawn. we shouldnt screw around with something like the debt ceiling. vote it in. get to the real matter, which is the 2012 budget and how were going to solve the long-term deficit. >> and they think its a real fight. at least the republicans do. listen to paul ryan. he says hes not going to ...

With the debt limit increase. i dont see may 16th as a hard, fast deadline. i think tim geithner would probably agree with that. but the key is, we just just accept the premise that we have to rubber stamp a debt increase. i dont agree with that. i think a lot of democrats agree with me on this. >> you know, the most fascinating comment may have come from alan greenspan who said why do we have this debt ceiling put in place in the first place? you have congress setting the number for spending. s...

Preserve the creditworthiness of the united states of america.were a country that meets our obligations. in fact, i heard the leadership tell that again on wednesday. >> on abc, geithner outlined exactly what is at stake. >> what will happen is that we would have to stop making payments to our seniors, medicare, medicaid, social security, we would have to stop paying veterans benefits, we have to stop paying all the other benefits and all the things that the government does and then we would ris...

>> i think theres no question the debt increase will have conditions, a foregone conclusion, you hear leiberman and moderate democrats. the question is how we go about that reduction. the public is overwhelmingly concerned with jobs and economic recovery. i think obama has won the debate on that. every major economic indicator is all in the right direction compared to what obama inherited. i think obama has won that debate, the more important of these two. on the question of debt reduction, ob...

The government, and shouldnt you all be embarrassed? >> well, were here because the democrats didnt pass a budget last year. for the first time since 1974, the house didnt even bother trying to pass a budget last year, so thats why were here. now, i feel like we had a pretty good outcome. we represented one-third of the negotiators, but we got two-thirds of the spending cuts we were asking for. this is really still a drop in the bucket. we want to move from talking about saving billions to savin...

Think the political equivalent of brain surgery, trying to negotiate cuts that are enough for republicans to take home to support a debt increase, but not so much that democrats just cant go along with it at all. >> and in talking to some republicans, i think the difference this time is that john boehner doesnt really control his own caucus. whatever you think of the job that hes trying to do, these preliminary run-up votes show that youve got new members in the republican caucus who arent the s...

14 to 15 trillion. i think the governor is completely correct if youve got out of control spending and debt you dont just increase the federal credit card limit. youve got to get something in return for that, some path to a balanced budget. bill: what he said was put the interest and debt payments ahead of other federal spending. does that mean you pay china first. >> reporter: it means we honor our debt obligations first. i agree with that. if it comes to the point, bill where there is a stando...

Done. where they fell short. peter doocy? >> reporter: the 111th congress concluded with an 83% disapproval rating according to gallop. a 30-year record. even though they got a thumbs down from the majority of the american public, democrats are happy with the way things happened, while they controlled both houses. >> it was a congress that was tough and acted and changed things in america. >> reporter: democrats pat themselves op the back for getting several pieces of major legislation through d...