Page 2 - Senator Greg News Today

And another potential downgrade on u.s. credit rating. joining me now, judd gregg, co-chair on the campaign to fix the debt. senator greg, thank you for joining me. >> thank you for having me on. >> its a new year, new congress, but has some old problems, the debt mainly. what will happen this time? >> well, you know, the congress and the president made two efforts here that have been fairly substantive. the 2011 effort reduced discretionary spending by $900 billion and a tax increase of $960 bi...

Three things. number one, he was the decisive vote to vote on bowles/simpson. senator greg, coburn, both voted for it, ryan killed it. number two, the ryan budget. the ryan budget doesnt reduce the debt, it increases it by $6 trillion over ten years. and then third, ryan had a chance to be an advocate for debt reduction when he was a junior member of congress under george bush. and instead, every one of those absolutely deficit exploding bills on the credit card. afghanistan on the credit card, ...

All week were bringing -- the north dakota democratic has made trimming debts and deficits has made it a priority during -- hopes to take a by partisan crack one more time before heading home in december. >> i came here to do big things. debt is helpful to a point and at a point it becomes a dangerous murder. and were not into doing things right now and i have been focused for five years, senator greg and i came one this idea of a commission that turned into the bowls simpson commission.

And try to avert sort of a budget showdown in the fall? >> yeah, because we are headed at the end of the year, for the fiscal cliff. fiscal cliff is all the bush tax cuts expiring, and of course the see quester, $1.2 trillion of additional spending cuts as well as alternative minimum tax coming back on people, as well as unemployment insurance extension running out. so lots of key issues coming up. absolutely i believe we should revisit bowles-simpson, as you know that grew out of a proposal of ...

Legislative policies that would work, and i think the last four years has demonstrated that. >> senator greg, its fair to say the romney campaign expected these last 48 hours, if you asked six months ago, relitigating his record as massachusetts governor. i think its fair to say you might be taken aback relitigating his private sector experience? >> a little unusual for republicans to be attacking other republicans for being market oriented republicans. people who create jobs are not usually att...

Things are less likely to happen. we didnt replace them, though perhaps we should have. i think the big could have been stronger by what we should have done to break up the largest banks. ive said on this show before, chris, that 15 years ago the largest 6 banks in the country, the total at sets were 17% of gdp. today theyre 63% of gdp. about half the democrats voted no. almost all the republicans voted no too that. too big too fail is too big as even alan greenspan said. weve come 80% of the of...

Cruel. >> i agree and i think thats why the state of pennsylvania did what they did, they passed a bill. to entice people to come in and say we understand you could be going through a tough time weve had a tough time in this country heres an opportunity to settle up without a lot more pain than paying what you owe to run an ad that is anything but kind and warm and fuzzy to get people to pay is the wrong way to go. >> greta: that state just to you jump over to the feds, our federal tax code, wil...

Everybody is watching their brackets. on the nearby screen, thursday, tip off. republican senator judd gregg called the debt commission a political charade. now, guess who is on that commission? senator greg, judd gregg joins us live to tell us why. in only three minutes. uma: and ben roethlisberger faces his second allegation of assault in a year so, far, no charges have been filed. but why has the star quarterback hired a private investigator? that is coming up knicks. -- next. new york city

Arent really used to benefit medicare. they are being used to create new entitlements, and we all know in the end, those types of cuts in medicare are not going to occur, they have never occurred, and so it will end up being an expansion of debt and will all go on the deficit and the debt en my opinion in the end, or most of it. martha: and the elections will tell what story needs to be told, which is what the president says, you know, will and should happen, in november as a result of all of th...

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