Page 13 - Spending Side News Today

Donald trump. they thought we were the craziest people in the room. >> we have to remember that part of the reason well have a trillion dollars deficit this year is also because of tax cuts. its not only on the spending side. its also on the tax side where were being fiscally reckless. republicans care about deficits only when theres a democrat in the white house. an important thing to remember, by the way, is not only should we dare about the thakt that well have a trillion dollars deficit righ...

Art laffer. the latest is things are picking up steam. the president is right to say this is in response to good news. wage growth that is now accelerating close to 3% pace. it seems to be the moment where people are scratching their heads saying wait a minute. maybe this will lead to more of a backup in rates than is warranted. what do you think of that? >> what i think is the backward-looking news is good. the employment numbers, the gdp numbers, all of these are good. the forward-looking stuf...

Re-visit that? lets say the house should flip and they force that point? what would you do? >> the american public doesnt want to see taxes go up. we all know that washington does not have a revenue issue. they have a spending issue. thats one of the things i was advocating for with this bill. we have a great opportunity this year looking at the spending side, especially tackling mandatory spendling sight. >> neil: so you would refight their repeal efforts? you would fight whatever effort to res...

Doesnt it in part stand from freedom from deficits and debt? how did you get to the point where wharton, the presidents alma mater, said this will add $2 trillion to the debt? >> there are a number of people -- and youre right. im a deficit hawk. one of the negatives is in the short run this does add to the deficit. i would agree with that. heres the other thing. revenue in the collection of revenue is normally not the drivers of that. it is spending. indeed some of our democratic colleagues who...

>> katie: spending side of this, too, is a big question. the white house and congress republicans in congress are banking on the economic growth that they claim is going to come out of this. now, they are saying 3%. the president has said as much as 6%, 7%. we will see where it flies. >> harris: bring our attention back to what is playing on the left of the screen. i love listening to you guys though. this is great conversation. i look forward to going into the new year with more of this because...

Does. they had this trigger in here, theyre staying in year 2025 when all these great tax cuts that middle class is getting goes away, that that future congress and president is going to -- no were going to make it permanent. well, thats going to add further money to the nations debt. >> billy bob thornton is in the white house, bad santa has taken over. >> i was going to say, remember you were asking about dont republicans care about deficit? this goes back over 30 years, the idea of the two sa...

Getting a little closer. it looks like we are going to have the votes in the house and senate before the end of the week to keep christmas open. there will be another stopgap measure to take us into january and that will be where the real battle takes place in terms of what is going to happen on the spending side for the balance of fiscal year 18. >> jon: what about those two issues, tax reform and potential government shutdown? joining me now lis smith and steve cortez, fox news contributors. l...

Have no choice. and this has been obvious for a long time. this is just part one of a two-step process. and i think theyre kind of foolish to be giving away the game before this thing is locked up. but im glad to hear them saying these things. but i knew it was coming. >> thats a great point that bruce is making. the deficits are the point. because what the deficits do is if you cut taxes like george w. bush did twice in his first term, like theyre doing now, you then create a pressure you can u...

>> i dont think theyve really been very secretive about this. ive been writing about it for weeks. all republicans believe in something called starve the beast. they want to slash what are called entitlement programs which i are mostly social security and medicare, and they dont think they can get the political support to do it unless they have a deficit. >> right. >> that is so large that they have no choice. and this has been obvious for a long time. this is just part one of a two-step process...

Republican side in the wake of that tweet everybody was trying to figure out what he was doing, if this was a negotiating ploy here, what he was trying to do in terms of setting the tone for the meeting. you got the democratic response, its clear, they want to negotiate whatever the deal is on government spending and on any of the other side issues out there right now, one to one with their gop counterparts on capitol hill. heres the problem with that. as its been kind of told to me by several r...