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'Gang of Six' member Sen. Mike Crapo explains his position on the Boehner, Reid debt plans and whether a deal is still possible
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Tennessee it's good to be with you again I -- that.
-- -- That's true and in fact whatever happens in this debt -- battle and we must result -- is a big issue.
We'll still have a debt crisis.
That's really what the games the plan is focused on changing the paradigm in America purposeful well I think instances long.
To solve the problem is -- Boehner.
Bill and read notes on this.
And things that are running it and gets into the next -- -- -- the problem and not really a solution.
Well they are big parts of the solution and in fact I'm really impressed that we are now getting to the point where we're talking in the terms of three trillion dollars.
And a vote on the balanced budget amendment so this is nothing small.
But we have a fourteen and a half trillion dollar national debt and if we do nothing it'll be 28 trillion dollars in ten yourself.
We have a much bigger issue we need the -- -- balanced bill or -- Boehner bill or something like that.
And we -- beginning at six bill and frankly we probably need another -- in short order after that.
Things that we're talking about it talking about this great except that when.
You know acting on things -- is a lot different and that bill that you seem -- like.
The Bane of -- coming over here is going to be dead in the water over here.
Well unfortunately it looks that way senator Reid has said that He will bring it up immediately and that they have the votes to kill it immediately.
Unfortunately his bill does not have the kind of substance to it in.
In real terms to be a big part for his will probably die in the senate as well but even though the votes on those two will probably take them -- The substance and the content of them can easily be pieces of -- of -- deal coming together I'm still very hopeful that we will be able to put that together.
In in terms of getting a big deal.
That will help -- take major steps.
That's correct.
Well I wish I could tell you that was last night or tonight.
And obviously it has to be within the next couple of days.
But I do believe still that there is a chance a good chance because we simply can't get to a point where we go -- A potential government shut down or the threat of -- the -- Triple -- rating simply because we would not deal with -- -- you.
Recently read it's very severe lightning hit figure out on his why -- to our question that took place at.
The AAA that the company's ratings.
Are largely responsible for the mess that we're -- right -- largely responsible.
Yet they and other ones that we are sort of vowing to we don't want them to hurt us in the downgrade us.
Mean it's it's a very bad situation is that once it -- the impact the benefit but on balance it's the first thing -- let -- divide them.
The second thing -- said Tom Coburn a gang of six.
And they -- six commission GAO report -- 12100 pages it on my desk.
Which talks about billions and billions and billions of government waste inappropriate payments duplicates -- rescission.
And -- hear nothing about that this -- Well first of all and the first question was why the rating agencies are being given -- credit or attention when they were a big part of the problem we meet again.
Really it's because.
We don't really have to convince the rating agencies -- have to convince the bond markets the global bond markets that what we're doing is real.
What the rating agencies are doing right now is simply repeating what their understanding is -- how the markets are going to react.
And saying they're gonna mirror that is their ratings.
The bond market -- their ratings it seems like they get the -- in the -- market and respond well it's definitely around sometimes you wonder which is the carton which is the horse but I really believe.
That we're getting to a point where regardless of what the ratings agencies do if the bond markets don't respond positively what we do.
Then we'll still see the rating agencies follow with the rate with a credit -- I think it's over six commission.
AO report.
As of any discussion here in the last week -- about this but the billions about -- place to.
Inappropriate payments like it.
It's got well first lawyer write that report showed that just in terms of duplication there's a couple of hundred billion dollars a year that we are wasting.
Here at the federal government it's easy -- -- -- -- -- -- -- right -- a -- right.
It -- it -- it that's right likes it and I can tell you that.
Although there hasn't been specific discussion of those last couple of weeks it's been a big part of what we discussed them in the gang of six.
And a lot of the targets or caps that are being considered in.
Any bill that's being considered the Boehner bill or the -- -- or other bills.
Would have to take advantage of the kind of findings -- that -- to achieve their targets.
So the things we're talking about here are more setting the caps and the controls on the overall spending levels.
Getting those things enforced and putting meat on the bones if you will would come from looking at those kinds of reports and -- those that it.
It is so obvious -- this commission report is so crystal clear it is.
Hundreds of millions of dollars.
And you would think that we have a little pieces everywhere in -- season and that talking about that because it is so it is so unbelievably wasteful.
-- -- -- -- And you do hear very little about it and you -- a lot of push back against it frankly and I'll tell you why.
Because in our country today special interest groups are so invested in their particular government programs.
That they don't care what -- -- a study that shows that there is waste and fraud and abuse -- that it could be provided more efficiently.
There are worried about and afraid of the adjusting things and changing their part of the pie if you will.
I you know I I'd be worried if I weren't elected official I -- -- -- every American -- dominant game.
Report and seeing it's not because I think that that's going to be a lot of very unhappy about it.
There would be and as a matter of fact you would see phenomenal ways to change things.
Without reducing government services and that's the thing that's incredible and we argue about what we'll have to be -- and there needs to be coming back the government services as well.
But you could achieve phenomenal savings by just reducing duplication and getting rid of the inefficiencies.
-- security senate thanks thank you very much.
