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What's Next for Debt in Senate?

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    Sen. Ben Cardin on hope for a successful plan

  • Duration 4:33
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A speaker of the house John Boehner well apparently try again today to get net debt deal passed in the house and honey timing on that yet and we do understand he's going to be taking.

Well he'll be on the floor talking in just a moment so we'll make sure we'll bring its data on anything that He says about what could be a new bill that he's presenting today.

The question is.

Well it passed the house but also what happens next in the senate -- -- key part of this we have joining us now democratic senator Ben Cardin a Maryland he's on the senate budget and finance -- -- senator thank you so much for joining us today my pleasure -- the -- I like to start off just drying on your twenty plus years of experience in congress.

A whenever producers -- -- Capitol Hill described the -- behind deal.

As being vacant.

A compromise today is just not in the air.

How would you describe it.

Well -- I've never seen anything quite like this before in my 25 years but I do think there's hope in the senate I do hope that Democrats Republicans will be able to come together.

The senator Reid has really reached out to senator McConnell.

A lot of what is in his proposals come from Republicans there's no revenue for example and in leader Reid's proposal -- we've raised the the debt limit by the amount of cuts in the deficit.

And it really does rely -- want spending cuts that have been agreed to before by Democrats -- Republicans so we are trying to come to a bipartisan agreement in the in -- -- knowing just how difficult this would be for our economy quite frankly.

Speaker Boehner proposal will not pass the senate.

It's good and as soon as it passes that the house like Specter will be a vote in the senate double reflect those numbers.

But let's let's talk a little bit about what you might see today and again we don't -- any timing on this but we do here that there is -- -- changes seen the bill that Boehner was going to present.

What changes could -- and based on -- you know about the bill.

What changes might impress you and get you to compromise and say okay maybe we'll consider the Boehner plan when it comes to the floor and it.

Well that's a great question but what we're afraid is that he's going to be moving more toward the right to accommodate the so part.

Tea Party members of the House of Representatives they seem to be controlling the process so looks like he's gonna be moving farther away from a compromise rather than closer.

And we don't have any confirmation of that yet as we're waiting for details of the plan and of course we'll bring everyone up to date when we do in the meantime let's talk about -- -- plan that you were talking about moments ago.

I senator Conrad was on our show yesterday He said and agreed -- -- current form and not have the votes to pass the senate will not have the -- votes needed sixty votes.

What are your thoughts and that today are the votes there.

I know that speaker Reid is talking to leader McConnell.

And I know that you.

Do we some modifications in the Reid proposal in an effort to bring us closer together hopefully we'll have -- bipartisan agreement in the senate.

-- that is what we're working for so I I think leader Reid said on the floor.

Of the senate today that he's willing to open offer more compromise so.

I do think there is a willingness in the senate try to come together we haven't seen that yet in the house and looks like that these so called Tea Party.

Republicans are controlling the agenda in the house throughout -- If that did this and it can lead the way here I'd like it just cost you for a moment about your state -- -- in Maryland because something interesting happened is a few days ago about your state being played.

-- -- watch a list I've worked for a credit downgrade it wasn't the only state there -- others but the reason being.

Is that Maryland has a lot of military personnel lot of federal workers and if something doesn't get resolved in Washington the credit company her credit rating company said.

We have to watch the credit value -- in in Maryland.

And I'm curious as a lawmaker have you.

Seen any repercussions and that what's been the reaction in your state based on that warning from this -- one right out ratings company.

What what's very clear that every person in Maryland will be affected if we do not raise the debt limit do we need to raise the -- one.

Meryl wonders will see increased cost not just because -- federal taxpayers.

Because they're state taxpayers if we violate that the kneecap.

On Tuesday so our goal number one is -- to raise the deck cabin has nothing to do with the death of bargain in Kurt -- gotta pay for that.

And number two we gotta get our debt more manageable and under control there are -- and we're gonna work hard to achieve that.

Senator thanks to speak -- it's a good reminder.

About not only the national downgrade that could happen but the downgrade on the state level as well is an interesting part of -- story we appreciate your perspective thank you so much for joining us.

Thank you we are keeping --

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