Page 5 - Deficit Reduction Program News Today : Breaking News, Live Updates & Top Stories | Vimarsana

May. i totally agree with you, it is imperative we get on the right track fiscally. and if we do, we have great strengths. i think we can succeed. this is a question of political will. i don't think we can get there overnight. in 1993 when we put together a deficit reduction program which was really effective, and i think was central to what was the best -- the longest lasting economic expansion in the nation's history, we allowed many, many years to get from where we were to where we're aiming. >> you've got the trend line right. >> and i think that's what we've got to do here but the politic...

About that but that social compact is about to collapse of its own weight if we look at the budget projections going out not very many years from now. they have resulted in what everyone agrees is aoun unus sustainable debt spending. >> bill: everybody doesn't agree with that don't you read the "new york times" editorial page don't you see nbc and the blogs. >> even those media outlet does not dispute we have a serious budget. >> bill: the country can take on more debt if the economy grows. >> yes, that's true. i think he. >> yeah, i think he sees the debt and deficit spending at this juncture...

Candy, is to argue that at this juncture with this kind of economic environment, we ought to have a significant tax increase. i don't know the economists you're talking to, but the ones i'm talking to are saying raising taxes in the middle of a recession is not a good idea. >> okay. overall, though, $13 trillion deficit, do you think there is a way to bring down and get rid of a $13 trillion debt without raising taxes? >> i think that we have a serious problem here because we spend too much. i think we ought to concentrate on the spending side. i've in fact been encouraged by the comments of e...

What they're trying to do, candy, is to argue that at this juncture with this kind of economic environment we ought to have a significant tax increase. i don't know the economists you're talking to, but the ones i'm talking to are saying raising taxes in the middle of a recession is not a good idea. >> overall, though, $13 trillion deficit, do you think there is a way to bring down and get rid of a $13 trillion debt without raising taxes? >> i think that we have a serious problem here because we spend too much. i think we ought to concentrate on the spending side. i've, in fact, been encourage...

Taxes, the question is raising taxes. what they're trying to do, candy, is to argue that at this juncture with this kind of economic environment we ought to have a significant tax increase. i don't know the economists you're talking to, but the ones i'm talking to are saying raising taxes in the middle of a recession is not a good idea. >> overall, though, $13 trillion deficit, do you think there is a way to bring down and get rid of a $13 trillion debt without raising taxes? >> i think that we have a serious problem here because we spend too much. i think we ought to concentrate on the spendi...