Page 98 - Spending Problem News Today

Dont get anywhere near cutting a $1.61 trillion deficit. youve got to get rid of big -- im not going to tell you what to talk about, youre the expert, you care. but i know government. theres huge programs that are enormously expensive, like medicaid and medicare and social security. youre going to have to go after one of these programs. you cant just chisel around -- youve got to get rid of the whole thing if youre going to cut the deficit down to where you want it, right? dont you have to get r...

Changing medicare as we know it? do -- the white house seems to feel theyve got politics on their side going into the campaign year. >> yeah, theyre feeling very confident over at pennsylvania avenue right now. and they have reason to be. i mean, the white house can credibly argue the republicans are going to destroy medicare if they get their way. the interesting thing is, republicans can credibly argue that as president obama gets his way, the deficit wont come down, he cant bend the cost curv...

Respectfully. we have a spending problem in the long term. we also have a revenue problem, but we also have a tax code problem. and so we need increased revenues in the context of fundamental tax reform thats pro-growth. >> doug, this is a bitter pill for republicans to swallow. in fact, the starkest criticism against paul ryans budget is that it does not touch revenues in any way, so it turns a blind eye. because you think the reforms are hiding that. >> they dont quite say it, and he seems to ...

You cant come up with $1.6 trillion in cuts right now. so in the end, youre going to have to do something with revenues. why shouldnt the very rich people providing those revenues for the government? >> chris, you -- >> you cant cut it enough to battle budget, can you? >> yes, you can. >> where are you -- tell me your going to cut $1.6 trillion in government spending. >> what the president doesnt seem to understand, washington does not have a revenue problem, it has a spending problem. >> i know...

Karen, let me begin with you. where do republicans, democrats and the white house agree? lets start from a point of agreement. >> lets see, maybe that the sky is blue. no, seriously, i think there is agreement that this is a problem we need to tackle. that we have got to find a way to rein in our debt. the problem becomes once you start talking about how to do that. and i have to say, you know, when you listen to ryan and boehner, it is intellectually dishonest when they say that washington had ...

Way out of this problem. from my point of view, taxes are not on the table because we dont have a revenue problem. we have a spending problem. >> now, one area where the word "taxes" in the same sentence with something the president might be talking about is republicans are very open to talking about ways to change the tax code to make it simpler and easier and perhaps, depending on how you look at it, more fair. thats an area where especially before people send in their tax returns is certainly...

My issue is be out there early on and not wait until the end just before the government shuts down or investors across this globe, whose confidence of investing in america for the debt ceiling and lead this debate. >> let me play for you a few moments ago, john boehner, eric cantor came out after talking to other members of their party, heres what they had to çsay. >> this speech is coming a full two months after the presidents original budget proposal and speech to the nation at the state of ...

You look at the budgets for those, its nothing compared to what we need to look at with defense, social security, "t&ook at taxes, look at progra like unemployment insurance, student loans, veteran benefits and tax credit for working families, thats 20%. >> the tea party is not saying anything is off the table. we have continually said everything including defense and were not really adverse to tax increases. but we would have to see major, major spending cuts before we ever agree with that. we ...

$6 trillion? >> the key is how do you close the gap? the only way to do it is cut spending. you hear this a lot. we dont have a revenue problem, a spending problem. you look at the spending, its way above the average, 20% average, spending 24, 25%, president have us go over 26%. revenues are pretty stable over 18.5% of the economy. we have to get spending levels down to revenue levels to close this budget shortfall. >> congressman, mulvany, thanks for taking the time. in about a half hour, the p...

With expenditures and revenues. revenues the republicans hear that as code for tax and say this is not a revenue problem. this is a spending problem. i know youre not going to agree with that, but the reality is, we cant be going down to the wire like we were on friday night every time you, the democrats and republicans and the tea party, dont agree. whats the plan going forward? >> well, my plan going forward would be, lets get rid of these subsidies for big oil companies. that is 40 to $50 bil...