You're watching...
Sen. Coburn discusses the various debt plans, why there's a dire need for a balanced budget amendment and more
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
I see you sir good to see you I -- seem to have three plans we have the gang of six speaker Boehner and now senate majority leader Harry Reid.
Your thoughts on where this is going to unravel we're -- going.
-- always right now we have dueling bills from the majority leader in the senate the speaker of the house.
I don't know -- go depends on what the -- -- do you like the senate majority leader bill.
Not particularly because most of it comes in really fault savings we don't get in terms of war world war savings even though maybe it.
Congressman Ryan playing some of none of them go far enough -- Put it out we need nine trillion dollars just heard an economist tell -- the same thing we need somewhere between 8 PM.
What we need is real cuts real honesty with the American people about -- bigger problems are.
And and do the things that we'll do this there and we ought to you know.
If we can only get a small amount that we -- to get -- -- -- that worked to get more work to get more.
But.
We don't the minimum we need to settle the markets internationally -- portrait.
Now I only say that it doesn't have -- -- speaking as well -- have speaker Baker's proposal it is a start but it's it's still again is if you.
We're gonna get more cuts over a longer period of time to give.
Increased borrowing.
And He uses in Tuesday -- But we still need to get more pain and what we need to do what we need to do which is one of things it's on his plan.
Is we really do need a balanced budget we have proven ourselves incapable.
Of the addictive elixir of Washington spending money we don't -- And the only way the American people -- we're gonna have that under control -- announcement to them.
What I.
Don't like a citizen of the phony tax.
Where we say in the future we're not gonna spend this money so that some hot hot and I think the American people ought to understand what's this into the real cuts now and what is.
Projected got to get them the frank.
And what we really need to do is we need to really -- about a 150 billion dollars next year.
And then another 400 it to be in the next year and another so -- -- 1530450.
And then we have to fix Medicare.
That the international financial community is not alone some money to pay for Medicare -- it is that we can't borrow the money to do that.
And we have all the baby boomers my age coming into that we have this extreme inflation that's one moment.
And we don't have anything this is how we prudently use this health care in this country.
And the president's plan that forces to ultimately -- -- And price control it where -- we won't -- controlled prize but we'll have much for health care says.
So we need -- we need incremental process that most important thing is we need to be honest with the American people.
We will not get out of this problem without severe pain if we don't get rid of some -- between -- entry in dollars over the next thing.
What I understand you commencement thank you commission the GAO report and you know I've spoken about the -- sitting at my -- about thirteen hundred pages which is a blueprint.
Waste.
Overpayment.
It up at -- -- real quick way for us to like at least from -- to what what's become of that report -- You know it's amazing you know we have we've had one piece of legislation on the floor we tried -- billion.
They fought it we passed that that it didn't go on who built anywhere else was on small business bill averages five billion there's a hundred billion dollars -- want to.
Those lists I would think this -- popular government waste I think would be popular government overpayment haven't been thinking deep -- No matter what party here.
Well but they all have advocates -- and so when you get down to the details people don't -- -- make a tough vote because they'll lose somebody support.
And of what we ought to does not care of with a realism is what we ought to do what's best for the country and that's what's not happening.
People are still hedging their bets to protect their political position rather than do what's in the best long term interest of this.
-- -- -- I have no doubt that most politicians are so flattered -- it otherwise it wouldn't be here it's about them.
So hot finally it is this just inevitable I guess what the live when that boards or some way to get people to sort of -- -- hard issues.
To talk and also enhance Republicans as well and a registered Democrat -- an act how to we sort of -- the policy.
-- -- -- position balanced budget amendment where their forward just like you know politicians it's they have these are selfish -- But they have this one fans that -- inside and they can't get out of the finance in the -- -- Here's the balanced budget.
Requirement all states but want to have that.
And it when it comes down the final spending per year they don't go beyond their -- they cannot do that the people will not let them -- And yet the people in this country earning given an opportunity to vote for that in the senate.
They they can't have the opportunity to vote for balance but demand -- human nature human nature it's not gonna change.
So what you have to do is fix the rule so -- human nature can't defeat our country.
What's been said behind scenes United States senate Democrats who bought -- ticket democratic senators talking about pound in terms of this whole process.
-- you mean what's it like there.
What they say like they they've paerson has been that's happened this way -- they proud of the way attack -- Think we all should be embarrassed that this this problem once all three months ago I mean this isn't something when nobody knew was coming and we -- -- The fact is people don't want to move off the position filler absolutely forced to and it's the same reason they wanna protective political interest.
And that's why you don't really know what people are gonna do until -- have to do and then -- city.
And so that anybody's guess right now what's gonna happen I think -- got a better proposal than the speaker but.
I mean and the leader the fact is this we need some of these stand -- -- time out.
You're talking about small things we need to do big things and we need to -- done big things in the fact that the president wouldn't agree with -- bigger things.
And may -- may -- that maybe some.
Some mumbling as relies on us as Republicans for not being flexible and but the fact is is the country needs us to do big things and since we're not gonna get a big thing down the thing to do is to do a small thing.
And try to get them.
Country behind you in the big thing.
I think gang of six did you have -- and me.
An agreement that was something that the Republicans and Hawkins could live with and if if the Democrats -- went with -- -- Well I think some if you don't live by this takes 48 it's better than nothing it's about -- it's far better than anything we've got there now.
It it it in fact recognizes that we have to reform the tax there are some revenue increases and they -- -- the government.
But the biggest problem -- -- why we're having trouble with revenue this because we don't have the business friendly climate in this country.
That would stimulate -- -- new jobs in the last twenty years in this country have come from small business and -- from big business they come from new business.
New businesses have created and we're stifling that both of -- what we've done the credit markets.
And in terms of the regulations are coming out -- the administration not just this one they're far worse with this what.
But every administration.
The more they do the less freedom there is to create an enterprise in this country to grow.
And the tax code and -- out.
Right then and even understands attacks I take it there's no appetite to change it because some politician has a constituent who likes -- particularly fruitful work.
Predicted that deductions so we that's there's all these earmarks in the tax cut 3300 but the -- commission.
Yeah there's 3300 earmarks in the tax cuts some of them are legitimate policy ending.
We are this system very.
Gracious country when it comes to help -- people with a private money.
That's right we can do home mortgages but we shouldn't do second home mortgages and give you deduction -- that.
Mean every one of those tax expenditures tax earmarks has -- constituency.
And it comes back to the same problem what's the problem the problem is the politicians don't want to confront the constituency and lose a constituency for the best interest of the country.
