If 'fiscal cliff' is avoided, what about the debt ceiling?
Congressman Mike Kelly comments
- Duration 8:20
- Date Dec 7, 2012
Congressman Mike Kelly comments
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-- -- Congress and everybody about this power I've made a third of the president.
That every time we get to the debt limit.
-- we need cuts and reforms that are greater than the increase in the debt when it's the only way the leverage.
The political process to produce more change than -- -- would have left alone.
Silly -- that is white house speaker John Boehner called a request just discussed here.
To have a limitless.
Borrowing limit for the federal government and to lay that aside.
This is power play and -- a big question big big question in all of this is that just after we get past this this hopeless -- stuff.
Probably as soon as the beginning of February the federal government which still -- about thirty cents of every dollar that it spends thirty or forty cents for every dollar it spends its going to be out of credit.
And getting that extended is that -- that the Republicans half Democrats are looking to take it away from.
Is it is it with us forever.
I tell you who probably knows Mike Kelly he is a Republican he is from Pennsylvania he's in fact from Butler county Pennsylvania to be specific.
And he is newly named to the house Ways and Means Committee congratulations congressman.
Thanks Chris and they kept me on appreciate it of course Internet -- about.
That's -- and so the question is this question is as.
How does let's start from the beginning.
Is there a chance of seeing the idea of debt limit increases.
As a matter of congressional oversight.
No nothing in it and can't be that way there are -- government is one that a lot of people on the world wish they had.
It is because there's limited powers they you don't want to change that balance the president wants a balanced approach I think there should be a balanced approach everything.
At doing that giving the executive office -- the opportunity to raise debt limits that anytime they want to be level they want is very dangerous I mean even with us.
Sitting together trying to figure out how -- for letting go just think it was unfettered.
You where were already at a point right now we're raising the debt limit and Maginnis because of deficit spending.
Spending more than you take in every year as for a long term data now at some point.
You and I both know that there's gonna be it'll change your credit.
If people to start charging us more interest on the money we borrow from them and it gets the point where -- wondered what it is making interest payments you're never paying down the principal.
That's a disaster you couldn't do it in your private life he can't do it and -- in our business I could never do this business there's certainly the fact that you can do it.
In -- in -- government is what's has -- us to the situation where we're at right now we're spending way beyond our means and we have to have a really serious conversation about.
Getting in line get it done to with the and your ability to make the payments to add -- that if we don't do something that's pro growth.
The last Americana become dynamic and robust.
The rest him to -- the conversations as just that it is just conversation doesn't fix the long term problem not me get to you did you do the Christmas season.
It may get you to and election cycle -- know what it doesn't sit well for the country as we go forward and we gotta get this fixed long term.
How does this go for the deaths and that is the debt ceiling.
Factor into the overall negotiation right now the president is trying to limit the discussion.
To just the tax rate question either you and your fellow Republicans will -- -- his wishes and and allow tax rates go up.
Where he says there will be no deal on any larger issue but we know that as we get closer to the end that field is going to broaden out.
How do you see the debt ceiling coming into these negotiate.
Well that the debt ceiling is always to -- -- you know my entire life -- before it came to congress to appoint some months ago I was an automobile dealer in the business of my dad started 1953 with a one car showroom.
So my entire life has been based on the ability to sit down across the table.
And put a deal together to negotiate with the person personally you got to the assumption is felt that the seller actually wants to -- Something in the fire actually wants to buy something and so if you can't get to that means they'll see the rest of it then it just becomes gamesmanship in and unfortunately.
That's what the public is seeing right now my job at the dealership Chris was to witness it doesn't listen -- -- sales rep.
Has shown your car and that's the -- apparently that you like can you think you -- -- is that a correct statement goes again sure source of more than in the problem must be.
Maybe the put the payment is right for you are the cars cost too much of -- we're not giving up free trade the person was a short so what's -- that's OK let me see what can I do today.
To make it possible for you to drive out of here in the car with the country needs to hear right now from the people at the table was what can we do today.
To get these problems settled now the president has to be the closer he has to be the person that comes in this is listen I know we've had this going back and forth.
We haven't arrived and -- solution let's get serious about this because I really want to settle this deal and I'm assuming.
speaker that you want to two and I think the speakers have right after the election listen let's go to the table let's sit down let's put revenues on there and let's start the discussion there what I have thought.
-- -- -- Simpson Bowles plan was out there now what the -- for for Paul Ryan was that it didn't address entitlements which is really.
The main driver of those -- what we have look at those metrics -- even if we don't do something.
Those programs go broke on the road.
The other thing is if we're gonna do that -- we have to look at how do you raise revenues how do you cope with the pro growth tax program how do you look at regulations that are inhibiting people.
Who who would have to treat these jobs and most of the people I work with normal -- -- their -- -- we -- small businesses.
These are people to work every day of the week to make sure they're successful make sure.
That there -- Celsius get paid.
So if you if you tax them too much and in -- much they walk away.
Congressman -- pretty good at that Korea.
But and again we thank instrument in time whereas today if you're from the -- -- you know already.
I go to Iraq might -- -- had a great day thanks congressman thank you.
Okay Internet it's Monday so that means there's -- Charles sorry good news on the hunt with Jonathan Hunt the one and only eight.
-- -- up next but before we get to that let's get to this about a few power points for you know.
Today's power points and happy together.
Two years of this really until mid terms it's going to be like this brinksmanship every day up until the end back and forth.
No patriotic grace.
Nothing can get done the easy way Christmas must be ruined.
Every position must be very hard.
Sounds like a bummer that we have to go all the way to mid terms like this is so why.
And here's why here's your second PowerPoint Harvard upperclassmen.
At Harvard -- Kennedy school of government at Harvard University they had to get together they have every year at every four years at the presidential elections didn't get together and they talk about why they -- why they lost and it was the team Romney.
And team Obama.
And in talking to some people in the Romney universe they said that -- the -- cure the high handedness.
From the Obama people told them that obviously the president isn't in the mood to compromise because he thinks that he has in fact changed politics he won.
Election like no other incumbent has won before tough.
Negative from the start.
Very expensive got it done anyway and so what their feeling is there -- they feel like they should have things the way that they want because -- won an election the way that nobody said they could.
At the beginning.
Possible but here's your third PowerPoint and remember this in politics it's for everybody check your altitude.
Check your altitude is the third PowerPoint because here's the deal in politics it's been said a million times it's an aphorism and it's a good one.
Which is this.
You're never as far up as you think you are in your numbers are down -- you think you aren't Republicans after the 2004 election with the reelected George W.
Thought they would be a permanent majority.
For two years and then they weren't any more than they lost the house and then they had a very long wilderness period.
And you're never far down as you thought you are the Republicans we're gnashing their teeth after the 2012.
After last month's election.
Probably not as bad as they thanks.
So just check your altitude whether you're winning or you're losing you're probably a lot close -- ground and you think you really are.
So those are your power points for today you have our.
Gratitude for joining us and we hope you -- -- -- -- -- 11:30 eastern tomorrow have a great day.