Page 40 - Spending Side News Today

Recess, they got closer to that and closer and closer and now members of he both parts are back in down with democrats now acknowledging that somethings got to give and both sides are going to have to figure out a careful balance before its too late. i want to see the spending side of the equation dealt with. look, right now, we have the revenue of the united states is the lowest its been in 60ors as a share of our economy. spending is the highest it has been in six years as a share of the econo...

Potential political impact come 2012. can you put that in perspective? >> sure. i mean, hooremember gas prices the issue no matter who is in the white house or congress, everybody tries to use it against the other person and its sort of one of those things you want to say, its not my fault, its those guys. now, the white house -- i think democrats a huge opening when john boehner actually this previous week in an interview acknowledged that perhaps it was a good idea to look at some of these maj...

Single obsession concern of you and your organization. i just want to make it clear to the viewers that you dont -- i dont believe you have any interest in what happens on the spending side of government. meaning, if i were to say to you, oh, come on, grover, if we do this, were not going to be able to fund medicare the way we would like to. that just isnt your concern. you just want taxes cut and cut and cut and cut? >> no. to the contrary. only if you take tax increases off the table do you ev...

Grandpa having to pay an extra $6,000 and lets give tax breaks to oil companies and wealthy, its not fair. what people say we understand weve got to do something but everything should be on the table. need to look at the revenue side, as well as the spending side and this trickery that the republicans are trying with this trickle-down economics and this funny math, people just dont buy it. >> ron, i want to take a look real quick at the 2012 cycle, the republicans having made huge gains during t...

Campaign and we reward them by not letting them hold office. it comes down to the point there this is two facts of the equation. there is the tax revenue but also the spending side. we have to send that message that were out of money. t

Their money. even president obama gets the tax increases he wants, he is still going to expand the deficit by $9 billion to $14 billion to $23 billion in ten years. >> crazy numbers. this entire debate based on the assumption that the bush tax cuts led to ballooning of deficit problem like you just suggested, that research has shown that those cuts at every level are responsible for only 14% of our current deficit problem with the tax cuts being responsible for only 4%. is that true? >> no the p...

Is that true? >> its not actually. thats really an inside the beltway washington spin. what the president and secretary geithner and others have said consistently is we know we need to make cuts but deal on the revenue side and the spending side. and that we need to do it in such a way that we dont create immediate damage and deep, deep damage to these programs and these systems. the other thing in the polls this week that shows a majority of americans think its the role of the federal governmen...

Characterized with their one year where theyre not paying taxes, but the fact that if you can ford a huge tax department, you ultimately pay almost nothing. there should be a way to simplify that. i dont think you need to direct it just at companies that are soaking off the government, but certainly, again, that would be popular. >> good politics, right? go ahead, karen. >> very good politics, dylan. you might want to run for office. >> thats ron paul. i think he might. so heres my question. if ...

Cnn money says there are other reasons why the richest americans cant generate the kind of revenue thats needed. >> the income of the very wealthy tends to be more volatile than the income of most people because its tied up with investments and when the economy goes south, often the income gets hurt. so youre not going to get as much revenue from them as you might expect, especially when you need it in a downturn. and two, its not that many rich people. as much as we think, you know, there are a...

Taxes but you cant not tax people more if were going to support some of the priorities that the government has going forward and that americans have going forward. it is going to be a math problem to do everything on spending side. i didnt hear president obama say he wants to raise rates in the gis of tax reform. both ryan and obama said well extend the tax cuts for some or all and do tax reform. it makes the bush tax cuts a moot point. lets hope they do that because im bored about talking about...