Page 18 - Deficit Issue News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Category. and this is not a time to be placing additional burdens on the middle class but in terms of the budget, understand that the president asked -- proposed that we hold expenditures for nondefense, nonsecurity spending even for the next three years. the congress has done even a little better than that. we have provided pay fors for many of these initiatives including the one that was passed yesterday to keep teachers from being laid off all over the country. that is a paid for initiative. so, we've been very serious about this. and beyond which, you know, we were ready to support the com...

You back your money. because we have too much of it. which is something we don't have now. now what the democrats are trying to do is turn the deficit issue on its head and to say, okay, you want to extend all these tax cuts, that's fine, except you have to figure out a way to pay for it. we don't have any money. if you don't spend them, you're costing over $2 trillion. that's with a "t." trillion dollars. >> listen to this ad i've been seeing played nonstop. >> folks, america's economy is struggling m and congress is about to make it a whole lot worse. our nation faces a massive automatic tax...

Money and at the end of the day that proves disastrous. >> so, steve, i guess my question is this. how will the markets react to the tax cut extension which is coming in some form of another? greenspan saying, hey, he wouldn't extend any of them at this point. will wall street say, boy, there goes the federal government in debt again adding to the deficit? >> it is a pendulum, chuck. are you sure it's coming, by the way? is that in your notebook there? that's not entirely clear to me and i think democratic senators favor an extension. not clear to me they have all the votes to extend them. you...

You may hinder job growth and creation. >> if cutting taxes brought prosperity, we'd have prosperity coming out of our ears. remember the clinton years where we had peace and prosperity? there's nothing wrong with going back to those policies, going back to the tax rate nen and allowing everyone to pak their fair share. right now this country is in trouble. the wealthiest americans have to pay their fair share. >> this is litigated. this is no surprise. some people have said the president has done this or that and it's a surprise and it's not what they ran on. he ran on this. >> he did. what t...

Grandchildren? there is no way in the world in a trillion dollar budget this year we can't find the money to pay for an extension of unemployment insurance, something we are in favor of. if you can't pay for a program that everybody agrees we ought to extend, what are we going to pay for? >> so to take senator mcconnell at his word on this issue, if the two parties agree on doing something, on one spending issue, but can't figure out a way to pay for it on something like this, then how do we expect you guys to ever deal with the deficit issue on either side, honestly, on either side? >> well, ...