Can Republicans and Democrats Find Compromise?
Debt debate not making significant progress
- Duration 5:35
- Date Jul 1, 2011
Debt debate not making significant progress
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What do you guys think.
Pledges an election year it's always a touchy subject that and you know candidates say well you know -- you just want to get hammered down the road right.
IA I'm not a fan a political marketing which is water whether it's the Susan B.
Anthony pledged to cut cap balance.
This is the problem we're looking at marketing and what I care about it's great that Romney and all the others what a site onto this.
But the people that can actually do something about it are the elected officials in congress.
And I'd rather the 535.
Home -- onto and do something about it.
As far as a balanced budget amendment I like the fact that if you're gonna raise taxes we need to mature we need a super majority.
There are a lot of good things in there but we can do those things already the thing is both sides are unwilling to have been -- -- For twenty plus years to really tackle this issue he didn't happen overnight it has been a progressive degradation.
And they're still play political calculus with a.
Ellison what do you think of if you're talking about Howard's political marketing and -- -- lawmakers be signing stuff in Washington you know legislation getting stuff done compromise -- you know mulling it pains me to start off our our -- When you're absolutely.
Right about that because of what we -- people to these important jobs going represented us.
We would expect that they would be able to hit it.
Reflect on the widest possible range of options and we have issues and that they were intelligent enough and strong enough to make.
Actual decisions in real time this idea that.
At the beginning of the year ominous sign something that's -- only -- in dramatic ways of the things like who puts us right now.
-- the middle of a hugely important debate about raising the death scene when -- people have a variety of -- -- -- David and I don't agree on exactly what should happen with that that's you.
But but it seems to me to think.
Any effective leader.
Ought to be able to -- you know how much cutting you -- wanna do is there any opportunities for us to get other revenue that would help us with this and why on -- before hand would you wanna -- women -- one and a -- hands behind your back.
I just think it's -- -- -- -- about it at all it got a clutch.
-- I that I that I think it matters if I think it matters to the committed based on either side when some -- sounds like what they want.
And then it goes away when their real life kicks in about five seconds later.
That's the reality is that both parties push.
The litmus test agenda.
And that's great the problem is and again you Alison I find agreement once in awhile get off on -- that that.
The real people that need to work are not taken these things you know you bring up revenues and we may disagree on revenues taxes -- -- -- -- -- and the approaches there.
We can do things like increase in revenue by allowing companies to make more therefore pay more in taxes we can remove subsidies by removing some of the onerous taxation and corporate taxes.
That brings in revenue to the government the fact is those -- the things they should be looking that lets remove roadblocks to capitalists to wealth growth.
To growth in capital for -- who just found only the largest oil files coal oil finds.
In the gulf let's give them the permit not just the -- let's do these things then the government takes in revenue.
Because the big discussion right now on the debt ceiling is what we do well first we take -- 250 billion a month we can pay the debt service.
The issue after that becomes government agencies in those so let's talk about doing things like 770000.
Employees -- DOD.
Let's cut the 43 committees needed to revise and review an engine but -- the Department of Education let's look at Department of Commerce let's look at.
All these other areas where we can immediately cut federal workforce and yes that's the reality we face if we're gonna talk about doing real things in our lawmakers can do that.
What we have coming from left almost -- military there -- gonna get -- guess what that can be taken care of by simple stroke of the pen.
Big battle going on there's congress continues to stick it out.
This and that and we have a situation in which we have many Republicans and have signed this pledge from this film Grover Norquist you know.
This thing which -- -- -- -- ever raising me and amber.
And what gets defined as a tax increases.
Is is letting -- tax cut expire or closing the loophole oil company or private generally we have great great -- seriously got -- situation with these schedules on this planet it's politically damaging mail for them.
22 to go back on the -- and yet.
I think most moderate economists would -- part of the solution part of a balanced solution has got to be -- in some money somewhere and.
We revolutionary guard here's thing here's -- they tell us the war the war revenues being misused here.
You can increase you do need to increase revenue but that's all of those colors on the note are not well known around but but Andy this is -- -- political calculus.
The fact -- economic -- says you can increase revenue.
By an -- by allowing companies to pay more into the system based.
But increase revenue to the company so.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Well we thought it was a big -- they'll file -- ever get a lot of compromise on my point my point with this let's use the oil companies are always demonized by the Obama administration.
We can take away those -- minimal subsidies if we give them the permits to develop their for -- make it more revenue is.
They exist mean when they meet their fiduciary responsibility.
Whether it's -- -- Marcellus cotton valley.
They have the leases but not heard anything let him make money what.