Page 33 - 650 Billion News Today : Breaking News, Live Updates & Top Stories | Vimarsana

650 billion dollar budget shortfall. >> mike: that's one of those things, if you build it they will come and buy bikes. >> alisyn: you know, new york tried this and some people think it's great and some people are angry. >> mike: and philly is doing the same thing, putting more bike lanes in. cabbies hate it. it drives them nuts. >> dave: yeah, kind of like-- bikers don't pay a lot of attention to cars. i like in new york when you're a bike and you acted like a car, seemed like the safest way i'm going to drive like i'm in a car. >> alisyn: in your lane. >> rick: now in the bike lanes i'm afra...

Is based on. what is in the ryan plan and what is left out of the ryan plan. >> so what is in the ryan plan at this point is a somewhat softer, from its initial version, way of moving medicare over to private insurance, or retain the option to be a normal medicare, but you pick from a bunch of private insurers too. >> that's the latest -- that's the thing that -- >> that is the new version. that is ryan 2.0. >> that he worked out with ron wyden. >> exactly. >> but that was never voted on or put into legislative language in any way. >> no, no, it is in the latest budget, in the second iteration...

Softer, from its initial version, way of moving medicare over to private insurance, or retain the option to be a normal medicare, but you pick from a bunch of private insurers too. >> that's the latest -- that's the thing that -- >> that is the new version. that is ryan 2.0. >> that he worked out with ron wyden. >> exactly. >> but that was never voted on or put into legislative language in any way. >> no, no, it is in the latest budget, in the second iteration of the budget, this year's budget, that is the version of support that is in there, to my knowledge. >> okay. >> but the big cut wednes...

That's very challenging. >> so you talk about $650 billion spent in short-term stimulus spending. a lot of people out there would say that's reckless, irresponsible. it could never happen. but, explain how if that stimulus spending is coupled with a long-term debt plan, to take down the debt over a generation, how the markets not only would free up those $650 billion, but they couldn't write the check quickly enough for it? >> exactly. >> they would rejoice. >> the austerity folks are getting it wrong in the sense that they're imposing immediate deficit reduction and that's disastrous for econ...

It's combined with a long-term deficit plan. in fact, that is vastly preferable. then the question becomes how do you do the long-term deficit reduction? a way that's credible and will stick? >> this goes back to the elemental thing we were talking about before, politics versus public policy. there are no, as far as i know, republican votes for more stimulus in any context and no republican votes for long-term deficit reduction that includes more revenue at this moment. maybe in january of 2013 there might be republican votes for that. you're starting to hear republicans say that's possible. i...