Page 3 - Representative Boehner News Today

im erin burnett and "outfront" tonight, rejection and dysfunction. the house today rejecting the senates plan to extend the payroll tax cut. now, that means that your taxes are going to go up somewhere between $700 and $2,300 next year unless, ooh, the big unless an all new congressional committee and it is an all new committee comes to the agreement by the years end. president obamas approval ratings are up as congress falls on this, and he seized the moment today. >> but now, even th...

im erin burnett and "outfront" tonight, rejection and dysfunction. the house today rejecting the senates plan to extend the payroll tax cut. now, that means that your taxes are going to go up somewhere between $700 and $2,300 next year unless, oh, the big unless an all new congressional committee and it is an all new committee comes to the agreement by the years end. president obamas approval ratings are up as congress falls on this, and he seized the moment today. >> but now, even tho...

dysfunction. dysfunction, dysfunction. lets go "outfront." im erin burnett and "outfront" tonight, rejection and dysfunction. the house today rejecting the senates plan to extend the payroll tax cut. now, that means that your taxes are going to go up somewhere between $700 and $2,300 next year unless, oh, the big unless an all new congressional committee and it is an all new committee comes to the agreement by the years end. president obamas approval ratings are up as congress falls ...

cnn congressional correspondent kate bolduan joins us now from capitol hill, what is the latest? >> reporter: you know the cbo numbers, the congressional budget office, jessica, this office that scores, gives a cost estimate, for legislation, its very critical, and this evening it came out the cbo brought out -- gave out its estimate, and it says that the speaker boehners bill falls short of what its target was. it says that it would only reduce the deficit by $850 billion, rather than...

We dont pay that on time. here is the corner quite frangly that representative boehner and others have painted themselves into. you need to have done this at the beginning of this crisis before getting this close. what has happened now is that they have allowed the timing to get so close to the end they may not be able to do the cain plan or the four things that i talked about. they may have allowed themselves to get into a corner where they may be forced to and i still call that they should hav...

We dont pay that on time. here is the corner quite frangly that representative boehner and others have painted themselves into. you need to have done this at the beginning of this crisis before getting this close. what has happened now is that they have allowed the timing to get so close to the end they may not be able to do the cain plan or the four things that i talked about. they may have allowed themselves to get into a corner where they may be forced to and i still call that they should hav...

>> chris: under the cain plan you would pay our chinese creditors first, while substantially, sharply cutting service, programs for americans. >> yes. but not -- pay the debt on -- interest on the debt first, make sure we take care of our military and and their families and thirdly, making sure people get paid their social security checks and fourth, make sure peoples medicare bills get paid and then you look at everything else, and that is where you start cutting. you dont start cutting until a...

Critical things, then we can take a look at everything else in terms of where we need to cut. it might mean a furlough of federal workers, which is not a bad idea. >> quickly, mr. boehner last night mentioned he would be interested, he would be allow a debt ceiling raise if there were equal cuts in spending. is that fair? >> its fair. but its another stall tactic. frankly, im disappointed with representative boehner for putting that on the table. this congress has shown it does not have the abil...

>> from the reverse side, even if the gop gives up on the idea it passed, lets repeal it, what will they demonize? >> youve heard representative boehner said it institutionalizes too big to fail. it allows a big bank to to fail. we had aig and lehman. it was very difficult to deal with those banks when they got into a crisis situation. this will make it easier. its not foolproof. probably not possible to construct a system thats foolproof but it makes it easier to shut down one of these giant ba...

You have a lot of bad practices continuing. >> with the pros and the cons, does that represent do you think this bill something that the democrats can discuss in concrete terms and make sellable to the public as they move into the midterms? >> i think so. aspects will be way over peoples heads. not the sort of thing people pay attention to. its not easy to understand. the idea of a consumer protection agency.ç when you go to get a mortgage -- ive been in that boat -- you dont get a mortgage ev...