Page 12 - Spending Side News Today

Thats the highest since 2012 when the country was spending like crazy to stimulate the struggling economy. it is not necessarily the spending side of the equation, but taking inside of the equation. this is largely thanks to tax cuts. revenue was flat this year and corporate tax collection fell by $76 billion. spending increased from defense spending. the white house will eventually cut wasteful spending. that is code for big cuts to social security, medicare and medicaid. majority leader mitch ...

Weve gone correctly in handling the spending side, but weve done nothing with the fact that there is double entry bookkeeping. you cannot keep a deficit going without consequences. there are no immediate political consequences of deficits because as far as the congress is concerned, if nothing is happening, then its not important. but the real problem as we open up the deficit, ultimately it will be funded and you will begin to get inflationary pressures. >> dana: let me ask you one last questio...

I mean doesnt it feel late to the table? >> keep in mind one of the reasons weve struggled had to make that deal with the devil the president mentioned, appropriations bills like most bills, not all but most, take 60 votes in the senate. since the republicans dont have 60 votes in the senate that automatically implies democrats have to participate, it has to be bipartisan. the one thing thats bipartisan is spending more money. you buy democrat votes. thats why we did what we did. you and i can t...

Still, i do wonder though, you know, this is what youre dealing with. this is still the power of the united states. its still, you know, the strongest country in the world. so the impact abroad is? >> the impact abroad we have polling numbers through global research numbers showing our division of the united states is at an unprecedenteded low but lets look at the variables we have the secretary general of the united nations saying the america power is on decline and the president today in his s...

Reform to point out. what are you trying to achieve with that? >> we are trying to get back to permanency. we change for the good especially for ohio, but across the country. in the end, we need to make sure that the tax cuts are permanent as well. we need to make sure we have retirement savings as people have more money. it is about to make sure that we take what people have done and finalize it. >> dana: when you think about finalizing the books, are you concerned that we further cut -- and gr...

At the end of the day, as the minority party, we feel good about being able to succeed in so many ways. we dont have the house. we dont have the senate. we dont have the presidency. but we produced a darn good bill for the priorities that we have believed in. >> different messaging. >> definitely. and prefaced with everybody is spinning the heck out of this bill, trying to say they got victories. thats what happens when you compromise and try to figure out a pragmatic path forward. the reality...

Discipline back in shape. >> neil: its nowhere near in shape. the house freedom caucus threw up their arms. nobody cares. the republicans have the house, the senate and the white house and the debt is growing faster than me circling a ponderosa buffet. >> two things. we have to reform entitlement program, which the democrats have no appetite for. we tried to do it with obamacare repeal. failed by a vote. we need more republicans, more conservatives in congress to get the entitlement programs rei...

Not something that i support. >> you didnt support that big tax cut? >> i supported -- >> that was $1.5 trillion. >> i disagree with some of your math and estimations of the revenue impact of the tax bill. on the spending side, absolutely, this bill is going to blow a gigantic hole in the debt, and so the combination of raising the deficit through the tax bill and raising the deficit even more through the spending bill is a huge, huge problem. >> let me go to you, ali because what i just heard t...

Midnight eastern time. we are here in to the second hour. of this government shutdown. this was the vote was held up by rand paul. now we understand this vote is under way. lets bring back in cnn phil matingly. who is there. following this. phil, tell us a bit more about the nature of the particular bill. again it is bipartisan. there are things that democrats and republicans like about this bill. >> yeah. an idea that has been addressed too few times over the course of the last couple years. ma...

And lindsey graham have been saying the same thing. the military has been depleted. those will be addressed. thats the carrot for republicans. democrats like this deal. and you have seen a big democratic vote. its the non-defense domestic spending. $130 billion into the barrel of the spending side of things. you add healthcare provisions. extending the children health insurance from six years to ten years. a significant amount of mown for opioid rehab. something thats an epidemic. the take away ...