Page 19 - Deficit Problem News Today

Understand that these tax cuts are going to go away at the end of the year if they dont get reasonable. once they go away, then we can come back in and pass tax cuts for the middle class and leave the very wealthy out of that equation. so, there is pressure here on both sides of the equation. weve got a real debt and deficit problem. we need to be serious about it, while we protect the middle class. im hopeful we can find some combination of an increase in rates for the wealthy, some limitation ...

Come back in and pass tax cuts for the middle class and leave the very wealthy out of that equation. so, there is pressure here on both sides of the equation. weve got a real debt and deficit problem. we need to be serious about it, while we protect the middle class. im hopeful we can find some combination of an increase in rates for the wealthy, some limitation on deductions for the wealthy and some kind of means testing for medicare that would -- you know, we dont need to be buying donald trum...

Cut some deductions how much money do you bring in? you cant tell until you know which deductions will be cut and by how much. you do know if you raise tax rates on upper income earners, you will bring in 82 ball a year. that is only -- $82 billion. that is 10 weeks interest on the national debt. raising tax rates does not address the debt problem. we dont know how much we address the deficit problem by closing loopholes. impasse. martha: well see where that goes. stuart, thanks very much. well ...

Thanks for watching tonight. a powerful group of ceos are giving advice on how to solve the deficit problem. they suggest cutting entitlements but say nothing about their own corporate welfare. heres lloyd blankfein taking aim at entitlements. >> you have to do something to lower peoples expectations and what people think they are going to get because they are not going to get it. social security wasnt devised to be a system that supported you for a 30-year retirement after a 25-year career. so ...

E need to understand that these tax cuts are going to go away at the reasonable. once they go away, then we can come back in and pass tax cuts for the middle class and leave the very wealthy4r so, there is pressure here on both sides of t equation. weve got a real debt and deficit problem. we need to be serious about it, while we protect the middle class. im hopeful we can find some in rates for the mitation on deduce wealthy and some kwould -- you prescription drugs, do this -- >> for a number ...

Welcome back to "the ed show." thanks for watching tonight. a powerful group of ceos are giving advice on how to solve the deficit problem. they suggest cutting entitlements but say nothing about their own corporate welfare. heres lloyd blankfine taking aim at entitlements. >> you have to do something to lower peoples expectations and what people think they are going to get because they are not going to get it. social security wasnt devised to be a system that supported you for a 30-year retirem...

Send the signals of certainty to the markets and we are serious about getting on top of the deficit. that is what we need to get the economy going. >>neil: your colleagues are circulating a letter which they say hands off medicaid and medicare and social security. they are off the table. that is a huge chunk of our spending and getting to be a bigger chunk, how do you feel about that? >>guest: two things. you cant solve the problem, the deficit problem, without addressing entitlement reform. tha...

We have to have serious tax increases. we have clearance spending cuts as well. we have to be fair. we have to rely on the middle class to take it to the front. >> does it make sense to raise taxes when the economy is so poor? >> it is a tough situation. we have a deficit problem that can create other problems down the road. we have to prepare for the future. the only way to do that is to have tax increases and understand we are in a tough time. so we have tax cuts for those who are making less ...

Arithmetic here. the country needs to make more money and spend less. are we going to see something dramatic, something bold happen? the constitution says were supposeded to have a budget, but are we going to see more can kicking down the road? >> i think well see something. theres a question of whether well see a big fiscal deal along the lines of simpson-bowles or kind of see it grind it out, cut a bit, nip and tuck, along the lines of what obama and boehner are dealing with. we need, just to ...

Largely, you know, republican districts and blue dogs retiring or getting defeated and that this hyper partisan congress of mostly newcomers will be there three years or less, are less likely to go along with the traditional arguments of the business leaders, jamie dimon and others, saying you have to do something about the fiscal cliff. this is more like tarp one when we look at the debt ceiling and some of the other things. depending on who is elected president. >> i think thats possible. and ...