Page 6 - Cain Plan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Themselves to get into the hole. when i say if they had done this a year ago anticipating this it would have worked. he is right. >> chris: but is the cain plan right or wrong now? >> the cain plan can't work now. it cannot work now. simply because they waited too long. and this is part of the problem. they wait until the problem is at a disaster point and then go to the american people and say we have no choice. that is not leadership. decisionot good tee sition making. >> chris: we talked about this during the south carolina debate. you say abolish the irs and income tax and replace it with ...

Bernanke says that it will end up just as you suggest it will end up costing the u.s. more even if you pay the debt it is going to end up costing the u.s. more to borrow from other countries which will only increase the deficit and filter down into higher interest rates when you want to get a new home, take out a mortgage or get a new car loan. >> he is absolutely right. but i also think raising the debt ceiling is also going to be a negative against market companies. they are caught between a rock and a hard place quite frankly now and the reason they got between this rock and a hard place th...

Will filter down into higher interest rates, when you want to get a new home, get a new mortgage or a new car loan. >> he's absolutely right but i also think raising the debt ceiling is also going to be a negative against market economy. theory stuck between the rock and the hard place now and the reason they got there, they waited too long to deal with the issues. and that is compounding the problem, not helping it. >> chris: but ben bernanke says, at this point, you have to make a deal, and, raise the debt ceiling and if you don't and pay off the debt it will frighten the markets. >> i would...

Themselves to get into the hole. when i say if they had done this a year ago anticipating this it would have worked. he is right. >> chris: but is the cain plan right or wrong now? >> the cain plan can't work now. it cannot work now. simply because they waited too long. and this is part of the problem. they wait until the problem is at a disaster point and then go to the american people and say we have no choice. that is not leadership. decisionot good tee sition making. >> chris: we talked about this during the south carolina debate. you say abolish the irs and income tax and replace it with ...

Bernanke says that it will end up just as you suggest it will end up costing the u.s. more even if you pay the debt it is going to end up costing the u.s. more to borrow from other countries which will only increase the deficit and filter down into higher interest rates when you want to get a new home, take out a mortgage or get a new car loan. >> he is absolutely right. but i also think raising the debt ceiling is also going to be a negative against market companies. they are caught between a rock and a hard place quite frankly now and the reason they got between this rock and a hard place th...