Page 89 - Spending Problem News Today

The $62 trillion. this is a big day for our kids and grand kids. enormous achievement. it means we finally have the prospect of dealing with somebody which has the potential of crushing our future generations and a good democrat and a good republican came together. this is the impact of people on both sides of the aisle that care about america in a critical time. i applaud him. good news. >> neil: congressman paul, as you have been warning, we are on the brink of another government shutdown beca...

How about 1%? martha: that if you increase the taxes on wealthy it will solve, i guess $15 trillion debt and extend unemployment benefits. ford is that going to work. >> absolutely not. always fix entitlements in tax code, keep taxing rich well be back at same point two years from now because we have spending problem. bottom line the government in washington, congress have no idea how to manage a checkbook. it is time to draw the line in the sand, whatever we want to spend on, whether unemployme...

>> well, virginia congressman scott ridgel joins me now, you represent the second district in virginia. thats the -- among other places, virginia beach. >> yeah, the beautiful southeast part of virginia, the entrance to the chesapeake bay. >> there you go. >> the chamber of commerce is going to be happy. >> its a beautiful place, chuck. and highest concentration of men and women in uniform in the country. >> we were talking before this interview started, you were a businessman, car dealer for 30...

And we have our act under control. and now, senate majority leader harry reid looking to push $1 trillion spending bill through congress next month saying it is needed to keep the government running next year. kentucky republican rand paul says we should be talking about cutting. not spending. this does not seem to be that, senator. >>guest: you can say that again. we are supposed to pass appropriations bills. we divide the budget up into about 12 different sections. we are supposed to pass the ...

with him. lets go to mark preston who joine joins us now from washington. cain ducked the topic during a speech last noit. do we expect him to say anything today? >> we do. this is something that will dog him along the campaign trail, don. something he has been battling for several weeks. several women come out and allege that he sexually harassed them during his tenure at the national restaurant association and now we have this new woman, ginger white coming out saying that she had an...

There are many places we can find cuts without increasing taxes. thats where we ought to have our focus on. with a government spending so much in so many areas i just think that the americans are -- we dont have a tax problem. we have a spending problem. while i said that, after that speech, and in response to a question, i think its very important that we focus on places where we can cut back and defense has been on the table. weve already cut as i said, almost half a trillion dollars. well see...

There are many places we can find cuts without increasing taxes. thats where we ought to have our focus on. with a government spending so much in so many areas i just think that the americans are -- we dont have a tax problem. we have a spending problem. while i said that, after that speech, and in response to a question, i think its very important that we focus on places where we can cut back and defense has been on the table. weve already cut as i said, almost half a trillion dollars. well see...

And so far, that refusal continues to be the main stumbling block thats preventing congress from reaching an agreement to further reduce our deficit. >> its a fundamental difference in philosophy. its spending vs. taxes. even if you taxed all the millionaires and billionaires 100%, 100%, it wouldnt begin to put a dent in the deficit or the spending of this country. so how can it only be a tax problem? its not! its a spending problem. >> gretch, a leadership problem. in washington, d.c., you cann...

History of the united states fiscally. both political parties are to blame. the problem is primarily a spending problem, probably 3-1. were going to have to get a lot of that through restructure wk the social insurance contract in phases over time. were also going to need more revenues and were going to have to get that through comprehensive tax reform. so theyre both wrong. theyre both responsible for where we are today. they both need to be part of the solution. but the way were going to chang...

Overall economy is at the lowest level. if you look at the chart of president obama, the extension from 2009 to 2017 they are going to cost $1.44 trillion as opposed to the bush policy. how can you say its a spending problem, not a revenue problem. we have the lowest share of revenue. 5.07 under bush. >> let me explain it for you. we had a recession. we are in a weak economy. we have a high unemployment rate. when you have that, you have a reduction in the revenue thats going to come in. the rev...