Page 8 - Future Spending News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Past spending agreements. it has failed 100% of the time in curbing future spending, and you have been categorical that you are for suspending the debt ceiling. do you see any chance that this happens? >> i think it's become increasingly damaging to america to have a debt ceiling. it's led to a series of politically dangerous conflicts that have caused americans and global -- global markets to question whether or not america's serious about paying its bills. it's flirting with a self-inflicted crisis. and it really involves the government giving to their treasury secretary and their

Trillions in debt that would tax, spend and regulate america into european neosocialism. i'm not for it. i'm not going to vote for it. now, to do that, they have to raise the debt ceiling. raising the debt ceiling would not only raise the debt ceiling for past spending but raise it for future spending. so they can't pass their bill without raising the debt ceiling. senator schumer has a very easy way of raising the debt ceiling with democratic votes. all he's got to do is amend the budget resolution with democratic votes. 50 votes, plus the vice president. it's like geico. it's so easy, even t...

That has to do with the biden agenda that democrats -- >> ryan, thank you so much for that. christine, can you just explain in layman's terms what happens if congress does not raise the debt limit? >> reporter: 50 million senior citizens would not get a social security check or it would be delayed. the child tax credit going into people's bank accounts would be stopped. and you wouldn't be able to pay the troops right away. this is paying america's bills. it's really dangerous to play with this stuff. and washington sometimes uses the debt limit and its process -- you'll hear republicans talk ...

>> julie: the presidents budget now in the hands of the office of management and budget. we are awaiting the cbs score. this "wall street journal" piece giving a bit of a preview. it will spare the two largest drivers of future spending, medicare, and social security leaving trillions and cuts for programs. that includes discretionary spending to education, housing, environment programs and -- in addition to new proposed reductions to nondiscretionary spending like food stamps, medicaid, and federal employee benefit programs. kathy ruiz, and lawrence jones. thank you both for talking to us. yo...

Correct? >> whether that's part of the full package or the short term hasn't been decide yet. my guess is the short term will be a down payment, then we'll exchange our spending habits. when want more time to lay out the growth issue and also the spending restrain issues. what we need is spending caps, guardrails from future spending from congress. we need a little more time to lay that out. martha: do you think the president is anywhere near ready to strike that kind much deal? he's not been interested in tax reform or entitlement reform. this could be a big non-starter. >> maybe not. we thin...