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Rep. Owens: We Need To Get Our Act Together

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    Congressman shares frustration with lack of a compromise

  • Duration 4:48
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Bill I have represented Bill Owens -- a Democrat from New York is where this right now sir I know I was being a little flippant but you can understand that there.

-- -- is just fed up with this by now.

Well -- I certainly understand it because I am sure I'm sure this is you.

This is really irresponsible.

We we need to get a compromise done and we need to get it done as soon as possible.

The behavior of folks on both sides of the aisle is.

Really really problematic and unfortunately I think the ball -- shifted.

Into my friends on the other side of the -- court they need to come forward with some kind of a compromise.

And move lost the ideological chatter.

Look I am positive first study that there is dissension among their ranks on the Republican side and many of blaming the -- -- at many blaming the new freshman court.

But at this when I really can't really want to blame.

We have got to come together and if for no other reason than people are just so nervous and scared.

Everyone is gone up -- -- saying should I sell what's today do it might have money for retirement we are great in the country out.

That's right and that's just not acceptable.

We need to get our act together and get it done.

And reach a compromise and you know I've been talking about this for the better part of a year and certainly concentrating on it for five or six months now.

Cannot get people to have a conversation based upon the facts and based upon what really is facing us which is a serious serious.

Potential event.

Pass debt ceiling increase will likely to see an increase in interest rates if that happens both -- the federal level and at the individual level we're going to see higher prices higher interest rates on car loans.

Higher interest rates on mortgages higher interest rates on our credit cards higher interest rates and our business loans these are not good outcomes particularly what you were talking about before.

In terms of the deep freeze.

Personal spend it.

Because that's 70% of our economy we need to get that moving again.

Right and and then there -- many people out there pundits out there saying that the increasing rate interest rates won't be that much it's not that big of a deal but you know -- You increase the American family's budget by a hundred bucks and right now it's a big deal.

So I think it is very big deal necessarily I guess what we're gonna come down to is the -- plan.

And I'm presuming that's what we're gonna end up there.

The -- -- -- be so they.

Jump in as planned we're going to be left with -- -- land is that's something that you think we'll get.

Real.

Well I certainly from what I understand of the -- plan right now.

It's something that I can very seriously consider and I would have to tell you I am likely to vote for.

Because I think that it does cut more than the -- plan which is something I think it's very important.

That we see significant spending cuts.

It also extends this beyond.

You know 45 or six months the country needs certainty.

Not to have another battle like this in -- for five months so there's some real elements of the -- plan that I think the report.

So right yeah you would not vote for John -- plans.

Absolutely.

OK would you look for -- budget amendment them.

I would not vote for a balanced budget amendment you know that comes up all the time now one of the things that people forget.

Is they talk about it how it affects a household how it affects -- state.

The difference is that households.

And states have a capital budget and they also have an operating budget.

The federal government does not have a separate capital budget.

My example would be you buy a home you don't pay for one year you pay for over 20/20 five -- thirty years so what you really.

Building into your.

Annual payments on the payments for that mortgage for twelve months you're not paying the whole thing in 11.

Fell swoop.

That's a piece of a balanced budget amendment that is very problematic and is not a good way to govern and it doesn't make sense economically either.

Sarah you're a captain in the air force Europe you have a law degree in a successful law practice what is missing from the conversations down there because He clearly had been in very disappointed field.

Well what's what's problematic is that people are unwilling.

To talk about the facts first of all.

They are unwilling to look to people outside of partisan politics to determine what the outcomes are for the actions that we take.

And they're unwilling to compromise.

Represented -- we gotta get this done representative Bill Owens.

I agree with you we absolutely have to its scanning people's sir representative Bill Collins Romney are -- -- -- taking the time to be with us there.

Thanks very much and -- -- good luck.

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