Pay Go Rules News Today

Time for money power politics. in a few minutes house democrats are set to start voting for their new leadership roles for the new year. well keep you posted on all that happens there as new developments come throughout the day. one point of contention for those challenging nancy pelosis commitment is her commitment to pay go. also pay as you go. it requires spending cuts or tax increases to cover the cost of any new policy. when democrats passed obama care back in 2010, every cent of additional...

You give a company a tax cut, theyre going to go out and hire people. thats just false. people hire for demand. i am not going to hire if i dont have a reason to hire someone. this is a major myth. its a huge lie. companies that are larger, on average in the best economies shed jobs because they get to a point where theres diminishing returns and they no longer grow and no longer need to actually hire people. and thats a kaufman foundation research that speaks to that. >> whmeanwhile because of ...

Probably the most fundamental thing you can do to change the way washington works and end business as usual is reform the budget process. we have a budget process that is broken the last 34 years only four times when all the appropriation bills were passed on time. theres this ender in shah is spend more. what -- inertia to spend more. my bill would be composed of republicans and democrats from the house and senate, permanent standing committee in the congress whose soul mission would be to redu...

I guess it was a $12 billion lesson, maybe. bill: do you think the $50 billion bill will pass? because the previous offer was rejected. >> well, they structured it in a way where i cannot make a point of order against it. and i suspect that they are going to try to get their 60 votes in line to pass it. i hope it wont pass, there is no reason that we should be continuing to run up these deficits and this debt and passing it onto our kids, since the democrats passed the ash ledged paygo bill whic...

[ laughter ] thats what galled me. i thought the republicans would be the party of we stand on this principle and they were just as mealy mouthed and milk toast as -- >> and held him out like he was not a member of the party. it was shocking. >> very good literary reference. >> i worked on that. >> beautiful. >> but what is shocking is what with senator bunning is it shine has light on the democrats that the pay-go rules, will they apply when their policies that theyre not in favor of, but they ...

President today, ensures that the government cant spend more than we take in. and that was shunned and actually allowed to lapse under republican administrations. so now were going to be able to be in a position functionally and fiscally to get back on our fiscal footing. >> so the house, when you get in the cloakroom and talking before the congressmen and congress women in the house, the democrats are not frustrated by the fact that you were forced to try to -- force-fed the senate bill on heal...

Or the role congress played in enabling government-sponsored entities to spiral out-of-control. a budget expert at the brookings institute told the wall street journal "the spending freeze is only going to affect a small lies of the budget -- slice of the budget. the pay-go rules will not affect the red ink and the commission will be a paper tiger and the proposals will leave us with unsustainable deficits as far as the eye can see. who has been talking about that? i remember -- you have. lech w...

Government for the intervention or the role congress played in enabling government-sponsored entities to spiral out-of-control. a budget expert at the brookings institute told the wall street journal "the spending freeze is only going to affect a small lies of the budget -- slice of the budget. the pay-go rules will not affect the red ink and the commission will be a paper tiger and the proposals will leave us with unsustainable deficits as far as the eye can see. who has been talking about that...

Krystal ball and joy reid. krystal, it seems in that example right there, the president found the way to talk about what he inherited when he took over the white house. >> yeah. i think thats a great example, because people understand it. and you know what, implicitly, people actually do understand that fact about the economy, as much as the republicans have been putting out there that the deficit is all the presidents fault, the economy is all the presidents fault, people have a more sophistica...

And accuse you of running up the tab! >> joining me now are msnbcs krystal ball and joy reid. krystal, it seems in that example right there, the president found the way to talk about what he inherited when he took over the white house. >> yeah. i think thats a great example, because people understand it. and you know what, implicitly, people actually do understand that fact about the economy, as much as the republicans have been putting out there that the deficit is all the presidents fault, the...