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 doesn t agree with that don t you read the new york times editorial page don t 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, that s true. i think he. yeah, i think he sees the debt and deficit spending at this juncture as a path to regenerating economic growth which, of course, is many ways the best deficit reduction program of all because it results if it s really strong and tax receipts which will tend to rule reduce the deficit. if is he wrong the country goes bankrupt and over the clift. i bet he is selling the
wealthy permanently versus spending on these things that we think are important. and that s a debate that i welcome, but i completely understand why not just democrats, but some republicans might think that that part of the tax package we could have done without. having said that. i want to repeat, compromise, by definition, means taking some things you don t like. and the overall package was the right one to ensure that this economy has the best possible chance to grow and create jobs. and there s no better anti-poverty program than economy that s growing. there s no better deficit reduction program than an economy that is growing. and if the economy started contracting, as it might had, had we not gotten this tax agreement, then the choices we would have to make would be even tougher.
think are important. and that s debate that i welcome but i completely understand why not just democrats but some republicans might think that that part of the tax package we could have done without. having said that i want to repeat, compromise, by definition, means taking some things you don t like and the overall packaging the right one to ensure that this economy has the best possible chance to grow and create jobs. and there is no better anti-poverty program than an economy that is growing there is no better deficit reduction program than an economy that is growing. and if the economy started contracting, as it might have, had we not be this tax agreement, then the choices we had to make would be even tougher.
economy. this will focus on doing a real deficit reduction program and is significant tax reform. there s a great way to bring the parties together. i agree with the vice president. he said the american people want us to cooperate and want us to work together. that s exactly why we started no labels. 60% or more like this deal. no labels, no ties. i saw that on a bumper sticker. we ll talk about no labels in more detail in a moment. mayor, what s going on in new jersey, your state, what s the real economic impact of this tax deal, do you think? first it s a hole we ll stop digging. this is a bill, in many ways, that continues digging and people worry it will run up the deficit in the long term. in the short term, it undeniably will benefit our economy, create jobs and sustain people who are hurting right now. we have a hurt of hurt going on in our nation right now. the reality is i don t like those false depates we create in america that often make for great spectator sports.
economy. this will focus on doing a real deficit reduction program and is significant tax reform. there s a great way to bring the parties together. i agree with the vice president. he said the american people want us to cooperate and want us to work together. that s exactly why we started no labels. 60% or more like this deal. no labels, no ties. i saw that on a bumper sticker. we ll talk about no labels in more detail in a moment. mayor, what s going on in new jersey, your state, what s the real economic impact of this tax deal, do you think? first it s a hole we ll stop digging. this is a bill, in many ways, that continues digging and people worry it will run up the deficit in the long term. in the short term, it undeniably will benefit our economy, create jobs and sustain people who are hurting right now. we have a hurt of hurt going on in our nation right now. the reality is i don t like those false depates we create in america that often make for