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POWER PLAY: Congressman Says Political Crisis Will Cause Financial Crisis

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    GOP Budget Cmte member tells Power Play Boehner bill isn't perfect, but nation needs it

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But first let's get an update from Capitol Hill we got congressman John Campbell he's a Republican.

From California represents -- candidate He is one of the best known budget hawks in his caucus congressman what the heck is going on -- there.

It's Damascus I mean it it it really is and -- this this.

This political crisis.

Is going on too long and it's gonna cause a financial crisis that we're not careful with -- but I think we did make some steps today there's some changes.

To the bill that we were hoping to pass off the floor last night and by the way -- -- the -- on it last night and -- yes on it.

Today with the changes but.

It sounds like with the changes that we will have the votes to pass that off the floor.

Today and and and send that over the senate and now Begin the process of where there's a real piece of legislation.

That is closed at least close to something that can get bipartisan support and and hopefully resolve this thing over the weekend.

Now you as I said in introducing you are -- one of the most famous budget hawks up there's so it took some people by surprise yesterday.

We -- came out in favor.

Speaker -- bill which has been criticized by some in your car this is not being.

Rigorous enough -- not calling for deep enough -- why is this the right way forward.

It's not rigorous enough it's not calling for deep enough cuts but you know the president is the president and the senate -- the senate and these -- the people the people elected -- we have to compromise with them and they don't wanna reduce spending so.

This is at least a step in the right direction.

We have to move beyond this because there are bigger things in the end we're not going to solve this.

This week that's clear now we are not going to solve that we're not even going to make a significant step towards solving -- a step but not a significant step.

We're eventually gonna have to come back we have talk about.

Reforming Medicare we have talk about reforming.

-- Medicaid social security and the tax code and we're going to have to get to all those things so we just need to get.

As much spending reduction as we can now move on.

And get to those bigger issues and bigger discussions.

Because that's where the problem will be solved -- not going to solve this week.

Now the president this morning in his remarks leftist leftist side door -- out for himself.

And -- talk.

It is anything about amendments and I heard you reference just -- second ago talking about how that it's close to do so is what we expect to happen here.

That the -- plane and heads over to the senate gets -- and then comes back to the house for another tough vote.

I think that is the most likely.

Scenario of some sort I mean obviously we would love for it to go over to the senate.

And pass the senate go to the president and that we can be done -- all this thing tomorrow.

But I I think.

There is like as some likelihood I would say at this point the senate would probably makes amendment.

I'd -- that sounds pretty likely to.

The one of the -- this apparently been made that we're hearing from others in your caucus talking about.

Isn't requirements more balanced budget amendment to be passed out of the house and senate as a condition.

-- the second part of this debt ceiling increase that you get a six month.

Based on cuts now.

Can you have a vote on a day on -- balanced budget amendment and if that gets out of the house and senate and goes to the stage.

Then the rest of the money gets released is do I have that about right.

You do they're basically two changes to the bill from last night this morning.

And both of them relate to what triggers the second -- of the debt limit.

At which would be estimated to be around February.

Before.

The bill required simply that the house and senate vote on a balanced budget amendment now requires that they pass a balanced budget amendment.

And send it to the states.

The bill also before required that the that this this super committee as some people are calling it this bipartisan committee.

Report some of the -- meet me on and report.

They might report something they might not it might get a -- it might not now rather than just creating -- super committee.

This amendment this amendment requires super committee -- poured out.

A certain degree of deficit reduction.

So they are a few more concrete.

Pieces then it.

To trigger the second tranche of the debt limit then there were before.

Well this is some -- stuff congressman we're very grateful that you make time for us today good luck out there.

Thanks Chris thank you.

Okay Internet I'm tired I'm kind of exhausted by the whole thing.

I admit that I work as I was writing the power play this morning at coxnews dot com slash politics where I scrapped it each and every morning -- you war.

Reading pleasure.

I confess that I became fatigued -- became intervention.

But then I remember.

That -- us today quickly AB Stoddard from the hill.

-- anything cool breeze that his -- into the studio today to help us do this our special gets beat.

Thank you very much for having.

Right so.

John Campbell this is serious -- team is on the Budget Committee.

He's serious dude.

And what I heard from him -- we just from him was basically this.

You can get Republicans speaking to his fellow Republican budget -- take which you can get and get out of town.

Yeah I'm.

Getting -- though it was a big get for our speaker Boehner even though -- at the at this point they have not pass the bill I think they.

Are likely to pass it out today but it's really time for.

People like congress and Campbell and the leadership.

And those who -- supporting leadership to do to really speak very bluntly to hold out about.

How much.

Com.

And didn't.

How hardship momentum they're going to lose how to leverage they're going to lose how this is really all -- -- -- from here it it gets so much worse.

Did this speaker to his credit has really tried to shoot to the latest message I'm -- really has He has over and over again but his swing them.

So I think you know these.

Changes.

-- may or may not.

Diminished that the bill's chance the senate the senate -- looks like -- it will look distilled down anyway.

But it's really a question of whether or not the Republican leadership in the house remains at the table negotiations are introduced is that because I think it's -- ask you bet.

I think there I think it's time anything congress is -- -- -- -- Republicans -- -- -- can get -- Well as I heard this morning I think -- The growing realization business.

This -- all.

-- -- this battle continues because you had the end of the previous continuing resolution fund a government that was this brand that was a brutal fight where the government -- car running running running then we get through that -- this shutdown hearts are running running running until Tuesday.

Then once we get through this the current fiscal year ends on September 30.

And we're gonna start to shut down clock yet again so I think the realization for people who vote in caucus is they think about that their -- is there we're not.

At the finish line yet whatever happens -- is part of a larger battle.

Right and that's what I think that members who are supporting -- radar screens at two relations.

The -- that if you.

And shoot it to achieve our objectives in the longer term to get real tax reform that doesn't raise.

You know revenue -- to get -- -- entitlement reform didn't really tackles are alarmed long term debt.

-- to do this now and we undermine our leadership and push them aside will be nowhere in a town where we have a democratic president and amber and so.

And -- -- really EU are right and the Republicans also look at what -- telling the country we've always raise the debt limit like it or not no one ever like to do it they've always on the presidents and congress hasn't done.

Parties.

This was the demands of the Republican Party back.

Content spending cuts the company had debt increased they got that they got -- -- -- It at this point it's really hard for them.

You just tell a country that they're not the party keeping the crisis now September 30 and beyond.

I -- yeah.