Page 11 - Deficit Problems News Today

Deficit problems? we do. we have to -- >> juan what we need is not higher tax rates. we need higher revenues and how do you get them? higher revenues from and expanding economy. and that is where the big money comes from. >> i.e. paying no taxes for america, come on, you know that is not right, i want to say, i pay all my taxes. >> good man. >> chris: and if there is an irs agent out there... thank you, panel, see you next week, check out panel plus, our group will pick up with this discussion o...

Deficit problems? we do. we have to -- >> juan what we need is not higher tax rates. we need higher revenues and how do you get them? higher revenues from and expanding economy. and that is where the big money comes from. >> i.e. paying no taxes for america, come on, you know that is not right, i want to say, i pay all my taxes. >> good man. >> chris: and if there is an irs agent out there... thank you, panel, see you next week, check out panel plus, our group will pick up with this discussion o...

Comes to assessing individual policies. regardless of our differences confirms what we know. the current deficits unacceptbly high and stay on the current course and do nothing, the situation will hurt our recovery and hamstring future growth. it sounds like theyre saying, what youre saying, peter, but they somehow came up with a different number. >> the presidents never saw a dollar he didnt want to spend twice. they simply dont want to recognize that you cannot raise government spending by 1.1...

Same period or four times what the president is proposing. and it did it by very aggressive action. not only on the discretionary side, where they suggested more significant savings than what the president has proposed, but also on the entitlement side which is where most of the spending occurs. 60% of federal spending is entitlement spending, only 50% is nondiscretionary. if youre going to fix the deficit problems, youve got to go where the money is, and thats in the entitlement accounts. >> wh...

We have huge deficit problems, what do you say to that? >> the best way to solve the deficit is create jobs now that means massive investments in our infrastructure. that will pay for itself in the long term, but more importantly we need to define this better. it is simply just not true that all attempts to deal with the deficit are created equal. weve heard a lot from president obama recently in the context of egypt about how self-determination in a democracy is important, the will of the peopl...

But at the same time still, you cant cut back on the funding for your children so they can go to school. so i think its important that we have that investment and have the cuts at the same time. >> susan, will it work? >> no. its a lot of smoke and mirrors. everyone knows we have serious deficit problems. the country is broke. we have to have serious solutions. and that includes talking about social security, medicaid and medicare. we talk a little bit about defense spending. but right now presi...

Programs, programs that people can identify and put a human face to. so cutting these things are not political winners, even though they broadly agree, both sides agree, on the importance of bringing down the deficit over the long term. >> their cuts are not political winners, and they are not enough for the tea partiers who campaigned on the notion that they are going to be able to cut much, much, much more than that in the first year. where does this leave republican establishment versus the t...

Tokyo gains 0.75%. new economic data shows japans exports rose more than expected but after the close, standa standard & poors announced its downgrading its sovereign credit rating to aa minus because of its fiscal deficit problems. on the other hand shanghai got a lift from resource-related stocks. it gained nearly 1.5% but property stocks fell after beijing said it will increase minimum down payments for second home purchases to 60% from 50%. this is to rein in the housing bubble going on ther...

It wasnt -- it wasnt a serious effort to come to grips is what is a towering problem. hes holding back. i dont know why. i thought it was very cautious. he made some suggestions, implied things, but you cant feel very good about the fact were going to solve these deficit problems after tonight. >> both republican responses were -- deficits were front and center. >> it has found its voice and were being crushed by a deficit and debt. and if you add up paul ryans speech and michele bachmanns speec...

Educated, i thought arne duncan turned out to be the most significant person in the room. i thought the failure in the speech came on the deficits. >> not enough about it? >> it wasnt serious. it wasnt -- it wasnt a serious effort to come to grips is what is a towering problem. hes holding back. i dont know why. i thought it was very cautious. he made some suggestions, implied things, but you cant feel very good about the fact were going to solve these deficit problems after tonight. >> both rep...