Page 4 - Deficit Problems News Today

Federal government. >> really, where, where? >> manufacturing, housing. >> sean: housing, housing? most people are underwater. hang on a second. i need to add one other piece. hes given us 6 trillion dollars, 6 trillion dollars, caroline in new debt. do you know what hes done, if i use the same hyperbole, he stole that from future generation, stealing from children, those poor kids money and breaking open the piggy bank, hes a thief. >> i can imagine him in the bedroom at night with a hammer, se...

Federal government. >> really, where, where? >> manufacturing, housing. >> sean: housing, housing? most people are underwahang on i need to add one other piece. hes given us 6 trillion dollars, 6 trillion dollars, caroline in new debt. do you know what hes done, if i use the same hyperbole, he stole that from future generation, stealing from children, those poor kids money and breaking open the piggy bank, hes a thief. >> i can imagine him in the bedroom at night with a hammer, sean. the fact is...

Earlier this morning, you said that well now may not be the time for tax increase. you said the idea of it being part of a package. as governor, you didnt raise taxes. how many times did you cut taxes? >> i cut taxes every year when i was governor. >> sean: every single year. >> yeah, and to me, growing the economy would create exponential revenue, much more than the effort to try to he redistribute well. the strategy for the president isnt to create revenue to deal with our structural deficits ...

Earlier this morning, you said that well now may not be the time for tax increase. you said the idea of it being part of a package. as governor, you didnt raise taxes. how many times did you cut taxes? >> i cut taxes every year when i was governor. >> sean: every single year. >> yeah, and to me, growing the economy would create exponential revenue, much more than the effort to try to he redistribute well. the strategy for the president isnt to create revenue to deal with our structural deficits ...

Defense are a backdoor thing. >> they have been in that argument. from the perspective that we still have 8% unemployment, whats so perverse is there is a broad consensus that we need a short-term counter cyclical policy and the deficit problems are genuinely mid-to long-term. what happened is the absolute reverse. nothing happened in any of these deals to do anything about the mid-to long-term. the affordable care act has been about short-term construction. austerity and none of the stuff that ...

Now what the report shows is okay. well, that added about $4.6 trillion cumulatively over the next ten years in debt. the debt service is going to be enormous. its crowding out everything. like you say, it will be at an all-time high -- or nearly an all-time high, more than 3% of national income pay just to service the public debt by the end of the decade. >> right. you talk about crowding out. >> by the way, more than not only defense but more than all of the civilian programs of our government...

Preferred a bigger deal that included spending cuts. >> a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way, that doesnt just deal with the taxes, but deals with the spending in a balanced way so that we can put all this behind us and just focusing on growing our economy. >> reporter: the president said with this conference, by which he meant this partisan conference, thats too much to hope for. early this morning after the senate vot...

For families with children. it would extend our tuition tax credit thats helped millions of families pay for college. it would extend tax credits for clean energy companies creating jobs and reducing our dependence and foreign oil. it would extend unemployment insurance to 2 million americans out there actively looking for a job. i have to say that ever since i took office, throughout the campaign and the last couple months, my preference would have been to solve all these problems in the contex...

Families pay for college. it would extend tax credits for clean energy companies that are creating jobs and reducing our dependence on foreign oil. it would extend unemployment insurance to two million americans who are out there still actively looking for a job. i have to say that ever since i took office throughout the campaign and over the last couple of months my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whate...

Coming from the far right wing of the republican party and be held accountable to it. >> lets listen to the president a short time ago before we hit the air. >> i have to say that ever since i took office, throughout the campaign, and over the last couple of months my preference would have been to solve all these problems in the context of a larger agreement. a bigger deal. a grand bargain. whatever you want to call it. that solves our deficit problems in a balanced and responsible way. that doe...