Page 14 - Spending Problem News Today

>> so its not a revenue problem, its a spending problem. weve got more money than ever coming in. the problem is that the democrats in the majority increased spending by 30%. >> reporter: a point echoed here in washington by the gops freedom caucus. >> we can so our debt crisis responsibly if we shrink washington and grow america. mccarthys not going to cut a deal with democrats. >> reporter: now, lets take a look at bidens tax proposals. theres a 25% minimum tax on people worth $100 million, a ...

Huge shortfall of revenue that would last, you know, for years and cause this huge increase in the deficit. in fact, we have record high revenue. the revenue last year, by the way, not only did it come in above what the joint tax committee estimated the tax reform would result in, it came in above what they had projected would occur if there were no tax reform. so if you actually just look at the way the numbers came in, it looks like in the context of tax reform we had even more revenue than wh...

Those eight years actually went down 10 billion. so i know we can find savings and get our economy stronger. after when republicans were in majority, we passed that tax package. revenue into the government has never been higher. its the highest revenue weve ever seen in. so its not a revenue problem, its a spending problem. a couple interesting things happened on the floor right now. if you combine the number of democrats who voted no and voted president, theres a hundred democrats that wont sta...

In american history. its higher when the revenues that are coming in to government are higher than any other time. so weve got a lot of revenue. we have a spending problem. that is where i want to find that we can find common ground. >> can you commit that the u.s. will not default on its obligations? >> look, if i look at anything and you want to equate this, if you have a child and you give them a credit card and they spend that limit, youre responsible for paying that credit card. the respons...

The retirement age for social security, also raise taxes to bring more money into the program, but one thing that wont work, doing nothing. if the program is left untouched, social security and medicare, according to experts, will run out of cash anyway, leaving the 66 million people who count on a monthly social security check with nothing. the cbo estimates the cost of social security already exceeds the money its bringing in, warning this, the balance in the trust funds will decline to 0 in 2...

That 125 percent. that is not sustainable if a child has a spending problem you pay their bills and take away their credit card. so what we will propose whatever negotiated about we can agree on with the debt to gdp. it affects certain budgetary reforms kicking on the discretionary side we are putting meat on the bones working to their proposed solution that first the president has to sit down with speaker mccarthy. often negotiates in good faith of the president does the same. shannon: the "was...

>> if we dont face the spending problem, youll be right back in the same boat with much higher number and that is main driver of inflation right now. you are paying more because washington is spending too much, work on this together. >> cheryl: 31.38 trillion dollars right now, janet yellen did write a letter to congress, here is what were going to do. use of extraordinary measure enable government to meet obligation for limitted amount of time. it is unlikely cash will be exhausted before early...

>> harris: has that ever worked? hillary, thank you so much. when it comes to spending those taxpayer dollars, our money, one republican says the entire government is on the hook. >> spending problem. not a revenue table. put everything on the table. to reach the debt limit it forces us to prioritize our spending. every area of government needs to be accountable. nothing should be immune to that. >> harris: a new op-ed entitled the hard reality of a debt ceiling showdown. the crisis is a test fo...

Spending priorities. in contrast, we get hundreds of letters asking us to increase spending. were at a critical point to see us for our economic health, and the one person to do it is kevin mccarthy. in 2018, then majority leader kevin mccarthy brought a balanced-budget amendment to the floor of this house. mr. mccarthy said -- by our access we have shown washingtons spending problem cant be boiled down to a lack of will. its a problem of structure and process, and everyone knows the process of ...

Government spending, we dont have a tax problem. we have a spending problem in congress. we need to rein in that national debt. as a supplying pain experts the last 30 years, we are seeing a rise in transportation cost being passed directly to the consumers at every level. trucking costs have tripled. fedex and ups have announced their new 2023 rates and they are going up. the height increases that had ever. those costs are passed on to consumers. all transportation costs, those are being passed...