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Deadline Looms for Super Committee

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    Will they 'go big?'

  • Duration 3:51
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We want to talk about another big topic just ten days left now for that super Canadian two come up with.

One point two trillion dollars in cuts to get that deficit under control if not these so called automatic triggers.

Would take effect there is skepticism as to whether or not -- super committee can get it done -- joining us right now is congressman Phil -- Lott Republican of Tennessee.

Congressman who wrote thank you so much for joining us and so where does it stand now.

We had conference meeting this morning -- -- o'clock in sort of walk through the process this morning I think he's in for a -- years and out of weekly here and -- obviously comedian here he's got here.

Because the congress for decades been spending more than it took him Washington hands.

And we can't have a budget last year what we DNN.

Was to get the debt ceiling increase and all -- we had to agree to this budget control activist Carl.

And put certain caps on discretionary spending and and we put a super committee so called super committee -- the joint select committee as it's known.

To find these cuts and I can tell you this -- frustration is a very bad idea makes.

Huge -- potentially can make huge cuts in their defense budget.

And if you -- -- Defense Secretary Panetta said -- just yesterday and he's testified today here on Capitol Hill those cuts are really scary.

Well interestingly.

We have a comment from from new Gingrich.

Talking about the super committee he says quote this is the dumbest idea I have seen in a very very long time.

It's as though someone walked in and said I'm under instructions to shoot you in the head unless you let me cut off your leg.

So you would agree with I don't know I can.

-- not sure I agree with that analogy but.

But we got to go back to how we got here again standing is the problem here we stand too much money and to get it dancing in -- we have the government's gonna shut down all of us that Fannie and we voted to increase the debt -- to get that vote at.

The congress had to agree about the way it was done a bipartisan way.

You know you had to for the clothes pin on your nose -- to vote but that's how we got the debt ceiling hoping -- That this joint select committee can come up with a solution and and quite frankly they haven't done it yet.

If you look at what's gonna happen make -- what do you serve -- what is certain news.

When he 13 January 1 actions are gonna go up I mean businesses -- thinking about that right now heard your discussion about jobs.

Single -- -- American they are getting people back to work last week we were home from the veterans right.

That's all people talked about it especially veterans -- -- -- even higher than in the public.

Our jobs and we know for certain we don't do something that that's gonna go off and that's part of the solution Republicans had -- to make -- some certainty.

Back in the tax -- -- we only have a little bit more time but had a ten day deadline ten days from now November 23 not as hard and fast as it was initially build up.

Options here for.

Seeking more time -- this out and is that a good idea.

Well I you know we're gonna have to make a decision sooner or later -- and we have to pass this week we have what we're gonna have to pass before them resent the idea.

-- Thanksgiving Day recess.

A continuing resolution in the house that it runs out the eighteenth of this month so we don't have to do that.

Keep the government -- and that maybe even get lands not in us and not -- certain.

Also I think it's important at this committee come to make conclusion -- it gets very important for the markets.

I even for the world market site is extremely important that the world know that we can manage our budget and we certainly see what's going on in Europe right now -- -- really scary.

What's happening and they're talking about a 5050 chance of recession in Europe next year.

All right so we're gonna -- to leave -- -- congressman Phil wrote thank you so much for joining us today from Washington back to block.

Thank you.

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