Page 3 - Deficit Reduction Program News Today

May. i totally agree with you, it is imperative we get on the right track fiscally. and if we do, we have great strengths. i think we can succeed. this is a question of political will. i dont think we can get there overnight. in 1993 when we put together a deficit reduction program which was really effective, and i think was central to what was the best -- the longest lasting economic expansion in the nations history, we allowed many, many years to get from where we were to where were aiming. >>...

About that but that social compact is about to collapse of its own weight if we look at the budget projections going out not very many years from now. they have resulted in what everyone agrees is aoun unus sustainable debt spending. >> bill: everybody doesnt agree with that dont you read the "new york times" editorial page dont you see nbc and the blogs. >> even those media outlet does not dispute we have a serious budget. >> bill: the country can take on more debt if the economy grows. >> yes,...

Candy, is to argue that at this juncture with this kind of economic environment, we ought to have a significant tax increase. i dont know the economists youre talking to, but the ones im talking to are saying raising taxes in the middle of a recession is not a good idea. >> okay. overall, though, $13 trillion deficit, do you think there is a way to bring down and get rid of a $13 trillion debt without raising taxes? >> i think that we have a serious problem here because we spend too much. i thin...

What theyre trying to do, candy, is to argue that at this juncture with this kind of economic environment we ought to have a significant tax increase. i dont know the economists youre talking to, but the ones im talking to are saying raising taxes in the middle of a recession is not a good idea. >> overall, though, $13 trillion deficit, do you think there is a way to bring down and get rid of a $13 trillion debt without raising taxes? >> i think that we have a serious problem here because we spe...

Taxes, the question is raising taxes. what theyre trying to do, candy, is to argue that at this juncture with this kind of economic environment we ought to have a significant tax increase. i dont know the economists youre talking to, but the ones im talking to are saying raising taxes in the middle of a recession is not a good idea. >> overall, though, $13 trillion deficit, do you think there is a way to bring down and get rid of a $13 trillion debt without raising taxes? >> i think that we have...

Youre not going to be able to actually sustain any sort of deficit reduction program over the long term. so, you know, i agree with the sentiment that david brooks is expressing, but, you know, first and foremost, this should be about jobs, i think, for any political party. >> yeah. but how do we -- reining in spending, worry being our debt, is that something our country cant handle conceptionally, john heilman? >> it is a hard thing. i remember a decade ago in the wake of ross perot, people use...

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Compact. well, he is certainly not wrong about that but that social compact is about to collapse of its own weight if we look at the budget projections going out not very many years from now. they have resulted in what everyone agrees is aoun unus sustainable debt spending. >> bill: everybody doesnt agree with that dont you read the "new york times" editorial page dont you see nbc and the blogs. >> even those media outlet does not dispute we have a serious budget. >> bill: the country can take o...

Compact. well, he is certainly not wrong about that but that social compact is about to collapse of its own weight if we look at the budget projections going out not very many years from now. they have resulted in what everyone agrees is aoun unus sustainable debt spending. >> bill: everybody doesnt agree with that dont you read the "new york times" editorial page dont you see nbc and the blogs. >> even those media outlet does not dispute we have a serious budget. >> bill: the country can take o...