You're watching...

Why Jack Lew 'must never' be Treasury Secretary

Details

  • Description

    Sen. Jeff Sessions explains his staunch opposition to Pres. Obama's pick to succeed Tim Geithner

  • Duration 9:19
  • Date

Clips

Also in this playlist...

On The Record

Auto-advance: ON

Auto-advance

Transcript

This transcript is automatically generated

The top Republican on the Senate Budget Committee vowing not to let White House chief of staff jetBlue become Treasury Secretary.

Senator Jeff Sessions accusing in lieu of -- line before congress -- -- the national debt.

He is referring to a bitter 2011 senate hearing.

You said in -- year in -- you Sunday on with Candy Crowley.

Our budget would get us over the next several years to the point where we can look the American people in the and say we're not adding to that debt anymore.

We're spending money that we have each year and then we can work on bringing down the national debt.

Was -- an -- -- are misleading statement to the American.

-- Sunday.

Senator I I think it's an accurate statement that our current spending will not be increasing the debt we do have interest payments gonna take us awhile to work down those interest payments.

Well you didn't sign that you said that we will be bringing down that debt during the period of this budget.

And that we can look him in the eye and say we're not adding to the dead anymore and and that's not accurate or not but I believe it is accurate our current programs -- things we're doing that -- making decisions on.

We've staff spending money that we don't have we can't just wish the national debt away.

Senator sessions -- -- good evening sir.

Good evening.

Senator I am I right in that in my characterization that day that -- accused Jack.

Flew a line and to -- the senate.

Look why he came in and testified to represents the most colossal.

Fantastic golf.

Financial misrepresentation.

Not think in history.

He said that daddy tell the American people square on.

On that we would not be adding to the debt we wouldn't -- -- -- there we have them again to pay down that debt.

That was probably -- -- his budget did nothing alike that.

The lowest deficit in ten years and he projected in his own numbers -- 600 billion dollar.

Deficit and would have added thirteen trillion dollars to the death.

Remember this was after 2010.

When the Republican House was elected trying to hopefully we were at a point to make some fundamental changes in spending in America.

And they came out with a budget that did just the opposite that -- tell the American people what they wanted to hear but it wasn't to Trace.

Hi I'm just I'm just serves zero -- I'm not going to be the dead of course but there's a -- there's a big difference between.

Being mistaken -- in different viewpoints and trying to be deceitful.

And -- lie because that's that's a very different and where does he fall on the spectrum in your opinions.

Well I gave him a chance at the hearing played arias said these statements publicly -- -- them back to him and he said it was actor.

He defended those statements although I will acknowledge his secretary Geithner who followed him before the committee would not say so he knew that was an accurate.

He acknowledged that the -- -- -- budget.

Did not put us on a sustainable path.

But not columnist salute he continued to -- -- repeat doesn't -- -- -- and indeed the president -- running ads on it.

Then September right before the election saying the same thing and his budget pay down the debt -- -- absolutely not true.

Is there any thing that -- -- say at a hearing that would redeem him in your eyes.

Well we would -- -- -- have an opportunity to do that by fundamentally.

And just some.

Being a little crow is not going to satisfy.

My feeling about it because I think he knew exactly what he was doing.

He should've told the president I cannot say that Mr.

President.

How will not say that about -- the resign before I go out before the committee and try to promote such an idea.

That that our budget is going to pay down the -- Well you have been quoted as saying that he will never be secretary of the treasury do you think that he won't be voted by by the committee and voted by and confirmed by the senate.

About -- I said dead I felt he must never be.

We'll say the full cent of all this I won't I'll just have one vote on it.

But I do think that did this and it needs to.

Push back I guess this idea that people can come before our committee is and say any thing they wanted.

Can accurately and then Wallace sand not two years later wanna be promoted to higher office the most significant.

Financial office in our country right really in the world.

On the secretary of treasury and we should do we shouldn't -- that lightly but he needs to be held to account in my opinion.

If -- that's my strong feeling about me.

What -- you know on the other end the political spectrum I'm senator Bernie Sanders has also has indicated he's not gonna vote for him that he will vote no but for very different reason that he believes that he is too cozy with Wall Street having come from -- while still a -- is my term that's not the word that the senator used so there -- -- on the other end of the play -- the political spectrum we could have some trouble do.

I'm curious so are looking at the hearing I certainly a step back and look and think about you know who's gonna ask why and how and I see this hearing as one that is going to get the Republicans an opportunity.

Did grill him about the president's plan for the fab for the future -- in the economy is something that the Republicans have been at least saying that there that they haven't gotten under the present so (%expletive) is this going to be a brilliant.

-- this candidate about the president's policies.

Well it absolutely should be an opportunity.

Ties to inquire of him about some of the basic principles of this administration.

-- why have they not propose any solutions to our.

And our entitlement programs.

Why have -- -- not responded to the law that requires them.

Two.

-- lay out a plan to fix Medicare when he gets in financial trouble it's been certified to be in trouble.

The president should be have laid out a plan he's flatly refused to comply.

Puts a lot maybe they'll ask him why he said they and supported Harry Reid and not ringing up a budget.

Hi he supported that instead you get filibuster a budget and he well knows -- -- -- -- does.

You can't filibuster about that it can be passed for the -- -- So.

I think there -- a lot of question isn't can matter as it can be inquired I've had his hearing.

-- just gonna have some -- apparently from senator Orrin hatch -- the ranking member member on the I'm the and the finance committee because senator -- -- -- with holding judgment he hasn't said yes or no.

Until the nominee mean now and that mr.

-- -- lines administration plans to cut spending.

To lower at the national debt -- concede that at senator hatch you know intention -- that whole business about you know attraction manned the whole issue of spending cuts.

That in this -- this this nomination hearing is going to meet in the form but that particular issued just like the debt ceiling.

Well I think he can be and I -- got the rays and they never brought up from budget is -- doubt that the Democrats sort of had a defend -- openly in public debate on the consoles so portable indefensible.

Client that their president now was promoting and they would have -- had to follow it or rejected.

And -- little whose budget was brought before the senate and the house.

If you're a member Greta they got zero votes -- not a Republican or Democrat in the house for the senate.

Voted for the budget that shops -- it was the architect job.

I don't think that's six well -- man who wouldn't take on a great position on the Treasury Secretary.

President Obama says instead he is facilitate deals he says the -- is Jordan -- Republicans and Democrats.

-- -- dead President Reagan speaker O'Neill on Social Security.

And President Clinton and a Republican congress -- the issue of a budget deal.

I'm curious whether you agree that he has brought two sides together and if so where we know whereas at -- end.

At least in this last go around the last eighteen months.

Well this last stop fiscal cliff -- -- chief of staff at the -- now -- was involved in negotiations.

They went nowhere until senator McConnell.

Urged Vice President Biden day.

Get involved and that's what an agreement was raised it wasn't Jack alluded to -- that.

Agreement.

He also when he agreed to that budget spending reductions.

As part of the budget control act.

Eighteen months ago.

-- -- -- Proposed a budget -- the next budget that they put forward.

How wiped out 60% of those cuts even though he -- agreed to -- in August and January he was proposing the giving.

Are -- on giving back 60% of them and spending my money.

So pretty and the cameras.

I -- is pretty clear -- a strong opinion on this one.

I really did I can never forget -- here and it was one of the most dramatic things I've ever.

Participated and when they -- Office of Management and Budget.

Look us in and insisted that they were correctly.

And we have a correction saying their budget would have pay down that debt.

When it did not.

Senator hi guys is -- thank you -- Thank you --