Page 8 - Spending Reforms News Today

At that moment we are downgrading. america losses financial reputation. and that will happen and you say to what? >>guest: it will happen. we dont know what and when it will happen. what we know is, our credit will be downgraded if we do two things: if we default and we dent know when that will be, we will also be downgraded if we raised the debt ceiling and dont make structural spending reforms. and, again, our cut, cap and balance plan that we passed last night, is the only one that meets that...

Default on its debt. but if the president wants our help to pay off his debts, is he going to have to begin the process of cutting up the credit cards, in other words, we need major spending cuts and major spending reforms. >> harris: here is what hensarling is talking about. time is running out for lawmakers to vote on raising the debt ceiling. the nation on course to reach the limit this spring. thousands of stocks traded on the new york stock exchange. nasdaq just got hacked. not just once. i...