Page 45 - Spending Side News Today

Unsustainable federal debt. -- a moratorium on new federal regulations is a great idea, sends a wonderful signal to the private sector that theyll have some breathing room. >> lets bring in our senior political analyst gloria bornger. are the republicans, gloria borger, making some headway into defining the democrats as the party of big spending greater federal regulation? >> they are absolutely. particularly on the spending side. more than half the american public doesnt like the way barack oba...

Credit card away from congress? i go what a great idea. this credit card we keep increasing the limit. trillion and a half this year, 10 trillion over the next decade, e bowls to be congratulated. >> greta: i wasnt said a year and a half ago. -- it didnt take a debt commission to figure this out. if you just applied practical terms, obvious. >> also obvious what the solution is. we need chemotherapy now on spending side. we need to make dramatic reductions in spending. one of the problems i have...

Credit card away from congress? i go what a great idea. this credit card we keep increasing the limit. trillion and a half this year, 10 trillion over the next decade, e bowls to be congratulated. >> greta: i wasnt said a year and a half ago. -- it didnt take a debt commission to figure this out. if you just applied practical terms, obvious. >> also obvious what the solution is. we need chemotherapy now on spending side. we need to make dramatic reductions in spending. one of the problems i have...

Trade will be offered as an amendment so people will vote on it separately. theyll want to have a separate vote on this. i am skeptical and most people, whether that second-best option can get to 60. the glide path were on is a so-called energy-only bill. >> this is infuriating for many reasons. just to increase the frustration, the cdo has released its report on the bill showing it reduces the deficit by $19 billion, which seems like the kind of thing that we could get some, you know, conservat...

Separately. theyll want to have a separate vote on this. i am skeptical and most people, whether that second-best option can get to 60. the glide path were on is a so-called energy-only bill. >> this is infuriating for many reasons. the cdo released its report on the bill by showing it reduces the deficit by $19 billion. which seems to me we could get some conservative democrats and republicans behind. >> you might think. this is one of the great untold stories of the whole climate fight, is tha...

To me are hope for cover for the tough decisions to come from this fiscal commission. the truth is, it really is time for someone to begin to tell the american people the truth about what is going to be required. were talking about, as you mentioned, cuts in government spending and tax increases to get our fiscal house in order. correct? >> well, if its going to be palatable, yes. there are people who believe all we have is a spending problem so we should just cut on the spending side. the truth...

Occur only on the spending side. some inincreases over time will be necessary and if the two parties are beating each other, the party of least resistance will -- it implies there will be crisis in the united states. >> doctor do you have good news for us? are you heartened at all that even though we saw the breathtaking thousand point drop, it did recover and recovered quickly? >> well it recovered, but the problem is that this bumpiness of the economy, the of markets, of what is happening in e...

I think well see opportunity here to do something dramatic on the spending side and hopefully dramatic on the tax side. >> greta: whats to stop it? you have a democratic and republican senator and everybody says the irs tax code is incomprehensible why not do it? >> every provision is attached to somebody who benefits. the home interest deduction, thats the largest single thing that and the deduction, if you will, for health insurance. those are the two biggest tax deductions that are there. the...

Meet so the idea theyre paying less taxes and getting refunds, that theyre getting a first time home buyer credit, child tax credit, et cetera, very important in this economy. youre saying how can we do that, how can we do that and bring the budget deficit down? the answer is, in fact, its in our budget, the key to long-term sustainability goes through health care reform. there is no other way to get there. health care reform lowers the budget deficit about $160 billion in the first ten years an...

Theyre also talking about a rebate for small business. this is going to be very complicated. wolf, i think you and i know in the next 6 to 12 months were going to hear a lot more talk about what are the solutions to the deficits, wheres it going to come from on the spending side, what are we going to cut, after all? are you going to cut medicare again or are you going to raise taxes? something clearly has to be done. >> if youre concerned about the debt or the deficit, theres only three ways you...