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New Concerns That Super Committee Will Fail

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    Sen. Pat Toomey on looming deadline to slash $1.2 trillion from debt

  • Duration 4:07
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Let's start out with a stern warning -- on Fox News alert some of Washington's biggest names delivering a tough message -- that super committee.

Go big on slashing that red -- -- America will pay a big big price good morning everybody I'm Bill Hemmer.

Are starting our hour now here America's -- he's doing and one final thought right this very often but they are now let's get -- So we've got I -- account by doing good morning and let me.

Okay now so we have 21 days now before that decision.

I had a slash a trillion dollars more than a trillion not really from the federal government must be made and now this stern warning coming and for the country watch this.

I have great respect for each of you individually but collectively.

I'm -- you're going to fail.

Failed the country failed the country Pennsylvania senator Patrick as a member that super committed sir good morning to you.

You know.

-- -- is Erskine Bowles right what this committee -- America.

I -- I hope not.

Look it's getting late there's no question about that time is is short but the clock hasn't run out yet and now -- -- meeting every day.

At least in in in groups if not the entire committee.

Often the entire committee.

And I think most of us really wanted to accomplish something here so I think it's it's too late to count this out where's the -- senator.

It's too soon accountants and fill -- that well there's the rub is the same as -- -- A throughout congress you know there are some of us who believe that.

And frankly if you listen to the testimony yesterday.

The message that came across a very clearly from each of the witnesses.

Is that it is the big entitlement programs that are driving this entire problem and specifically the health care upon.

-- we have programs that are completely unsustainable.

Medicare and Medicaid are growing at multiples of the rate of economic growth and no program can grow indefinitely faster than the economy is growing.

They are wildly outstripping.

Any sustainable path and so some of us are suggesting let's fix the problem.

Let's make these programs work for the people who need them and they absolutely have to serve that purpose.

But let's make them sustainable to and then there's another point of view that just -- let's just raise taxes.

And yet you can't tax your way out of this problem.

So so this is this has been you know.

One of the challenges that we that we had okay then it doesn't it's no different -- allow me to interject this that the six Democrats on the committee are they all demanding and masks.

That you raise taxes.

That -- I don't -- -- get.

Get too specific about what demands are are are not in the committee but I'm just suggesting that there is a fundamental.

Divide over how much we ought to focus on.

Fixing the spending problem that has created these deficits vs.

Raising taxes then that and that is an area of of some tension.

-- the other six or at least six of the twelve apparently broken off in the -- small group.

It is that helpful.

-- you know I wouldn't believe everything that you read okay -- I think there are there a lot of rumors going around that are not entirely accurate.

I think there's a there's a majority of the twelve a big majority of the twelve that really want to accomplish something and -- working to accomplish something.

Certainly there are going to be one -- conversations here and there that are gonna happen and that can be very constructive actually.

But I wouldn't put too much stock in.

That you have 21 days and -- about ten seconds we get a deal done.

Yeah I hope so -- it's really important that we Begin to change the course that we recognize that we need to fix what's broken which is out of control spending.

We ought to reform the tax code I've been a big advocate for reforming the individual tax -- that will have more growth.

More jobs more people on payrolls paying taxes that's the kind of revenue that we need to grow we should grow.

And we've got that within reach as well so I hope we'll hopefully output okay 21 days were all watching -- which in the navy column as of today.

Our senator senator thank you for your time had -- -- round.

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