Page 50 - Spending Caps News Today : Breaking News, Live Updates & Top Stories | Vimarsana

This is hypothetically, of course. the wisconsin congressman, paul ryan, is expected to become the new speaker of the house this week. mike emanuel joins us live from capitol hill with more. >> reporter: we expect the house to vote on this budge package tomorrow which would handle the debt ceiling issue and more. it is a two-year budget agreement which would address the debt ceiling, the government's ability to borrow money through march 2017 when a new president and a new congress can deal with it. it adjusts spending caps, equally divided between defense and health care programs and would do...

Crisis. >> reporter: it is a two-year budget agreement that would raise the debt ceiling. the government's ability to borrow money through march 2017. it would adjust spending caps by $80 billion equally divided between defense and domestic priorities. it would prevent a spike in medicare "b" premiums for millions of seniors and includes some long-term entitlement reforms to the social security disability insurance program. some conservatives don't like the spending adjustment. >> i will not be voting for it because in my view it is financially irresponsible. it increases spending by roughly $...

But here's the bottom line. mitch mcconnell, john boehner, myself, nancy pelosi, harry reid, we have all spoken and talked about trying to negotiate a budget agreement. and, yes, speaker boehner's decision to step down complicated it, but i do think there's stale path for us to come up with a reasonable agreement that raises the spending caps above success at - sequester to make sure we finance defense and nondefense needs, that maintains a prudent control of our deficits, and that we can do that in short order. it's not that complicated. there's the -- the math is the math. and what i have en...

Sheryl. >> thank you, mr. president. to go back to your opening remarks, you said that you won't sign another four-term cr. but yesterday secretary lew announced the government's borrowing authority would run out around november 5th. would you recommend negotiating an increase in the debt ceiling as part of these budget negotiations on spending caps? and also, does the speaker's race complicate these negotiations? >> i'm sure the speaker's race complicates these negotiations. that was a rhetorical question. it will complicate the negotiations, but when it comes to the debt ceiling we're not go...

But here's the bottom line. mitch mcconnell, john boehner, myself, nancy pelosi, harry reid, we've all spoken and talked about trying to negotiate a budget agreement. and, yes, speaker boehner's decision to step down complicates it, but i do think there's still a path for us to come up with a reasonable agreement that raises the spending caps above sequester to make sure we can properly finance both our defense and nondefense needs that maintains a prudent control of our deficits. and we can do that in short order. it's not that complicate d. the math is the math. and what i've encouraged is t...