Will Conservatives Back 'Gang of Six' Plan?
Sen. Rand Paul on debt proposal, bipartisan compromise
- Duration 6:37
- Date Jul 20, 2011
Sen. Rand Paul on debt proposal, bipartisan compromise
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The group of senators known as the gang of six are trumpeting a so called compromise that aims to end the deficit debate in Washington.
But for that to happen conservative Republicans in both the house and senate must sign onto the trillion dollar tax increase.
That is contained in this compromise now they also have to abandon cut cap and balance.
That's the bill to pass the house yesterday.
So is there any possibility that that's gonna happen here to answer that is the one and only Republican senator who signed -- to cut cap and balance.
Kentucky senator Rand Paul senator welcome back -- Good to be really shot all right I -- are saying number -- a -- -- I'm angry.
That on the day this -- the country ought to be focused on the answer or the best answer out there.
To our problems and preventing more long term damage.
You know we've got senators announcing giving to the present an opportunity to divert the country's attention I'm pretty angry about it.
With a bill -- no specifics that seemingly is gonna raise taxes and go against the very things that -- Republicans were elected to not have.
Your reaction other.
The the interesting thing is there isn't any legislation that will not be any legislation and the gang of six before the debt ceiling.
So it's completely a distraction.
We have something out there passed the house last night cut -- and balance our plans says will allow the debt ceiling to go up.
If we pass a balanced budget amendment.
The gang of six planned never balances so until people I can't I figure it's a compromise to wait seven or eight years to balance a budget.
I can't support any plan that never balances.
-- the first -- there's no legislation.
Is not gonna be any written legislation will be no CBO scoring of this.
And even did the broad outlines that I've read say that these cuts will come.
Well from this department in that department but there unnamed.
So in other words what we're gonna raising that ceiling -- a -- play the old Washington game that the that actual spending cuts come later why would be well suckered into the.
And here's the problem the -- terminology is saying they're going to be cuts is.
False it's cuts against a baseline the baseline is going up nine.
Trillion dollars in debt over the next ten years if they cut three trillion that means they're still gonna add six trillion dollars in debt -- the next ten years.
It is not a balanced budget.
It is not something that I think our country can live with we cannot add six trillion dollars more in the next ten years and sustain that kinda.
But -- -- -- trajectory we're at a 100% of GDP at that particular point you know but the good of the political point here is this.
You know the house did its job now twice and -- taken a lot of political heat for house Republicans I think they deserve a lot of credit.
Because I think their bills responsible it deals with the short term problem.
Seniors event taking care of the debt ceiling is taking care of the dead -- pay -- we begin the process of dealing fundamentally of the problems.
And then on the very day they're voting.
We've got you know the undermining by some of your colleagues atom bomb frustrated why would we be negotiating against ourselves or conservatives be you know.
Understood it is that.
Here's the interesting thing is -- actually proposing to raise the debt ceiling.
We hate that fact we don't once the government to borrow more money the only reason we've come to this is because it's a compromise if we get a balanced budget.
But here's the president on the other side I think he's acting irresponsibly because he says he's -- -- fault he's gonna not pay Social Security checks he won't -- our soldiers.
We have 200 billion dollars a month that comes in we have cloning -- money to pay our interest.
To pay our soldiers to pay our Social Security checks so those don't go out or if we default.
It's all on the president's shoulders because we actually have legislation that would say you have.
To -- -- you have to send out Social Security checks is not a law breaking the law is that the law now of the land.
Well some -- -- people argue that it already is the law that the Social Security has a valid obligation.
And it has some assets that they should always -- their checks and they really he would be breaking the law but we wanna go one step further we wanna pass.
This says explicit to him.
Paid the debt to pay the interest on the debt -- -- Social Security checks.
And pay for the soldiers' salaries because we don't want him using that as a political football too emotionally charged people.
He's the one that one's default because he wants to continue an unlimited borrowing without significant procedure.
I contended that the president didn't get this chance yesterday to.
Divert the country's attention -- cut cap and balance.
Because Republicans are negotiating their own little private deals and then he says we even have a super fall -- position in McConnell plan.
It seems to me that the show would be on the other foot -- them you know Donald Trump says the -- teller played better -- I agree with them.
So in other words if they pass cut capital balances they did yesterday handed off -- you guys in the senate what do we just sit back and wait.
The money -- Andy -- asked that congress did its job now the -- let this fall on the president's shoulders.
Exactly and what I'm proposing is no matter what happens on Saturday.
I would love to see the house next week pass the bill that directs him to pay interest.
Pay social security and pay the -- salary direct him to do that.
And then say look we want to compromise with you but we want a balanced budget 75%.
Of the American people want a balanced budget amendment.
He needs to compromise on this because the people -- wind -- and they're not -- him.
Yeah I agree now one last question if in fact this they don't take it up in the senate would you support -- -- short term dollar for dollar.
Raising the debt raising the debt ceiling short term dollar for dollar with a cut just -- the Republicans -- wouldn't get the blame even though they don't deserve it.
I know won't support a short term may increase in the -- -- -- -- the only debt ceiling increase our support -- its -- -- today the truth.
But the only debt -- -- support -- with a balanced budget amendment.
-- what I will support is -- will continue telling people that.
The president has a choice here yeah he's choosing not to send your Social Security checks out.
He's the one using your check in your livelihood as a political football and he should be ashamed -- Franklin yeah that's the thing.
The president's the one that won't move here.
President's -- -- standing firm and of the republic has gotten -- said we're standing firm that it's on his shoulders -- agree -- -- -- -- senator good to see it thanks surveillance.
Thank you -- and coming up.