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‘FNS’ Panel discusses sequestration

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    $85 billion in cuts still looms ahead

  • Duration 8:11
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Everyone should be clear.

That sequestration.

Is a Republican policy and it is a bad policy.

This request from of the president's idea.

His party news to follow through fall on their plans.

20 to replace him.

House speaker John Boehner and democratic whip Steny Hoyer is still no closer to a deal to avoid 85 billion billion dollars in spending -- on March 1 and we're back now with the panel.

Bob is the man who literally wrote the book about the budget battle.

Put this to rest whose idea was the sequester and did you ever think that -- actually get to this point.

That first of -- it was the White House it was Obama and Jack -- and rob nabors who went to the democratic leader in the senate Harry Reid and said.

This is the solution but.

Everyone has their finger prints on this and it is everyone's.

It is the policy in India's law what what is important about it is it is -- governing travesty.

The idea that you were going to go round.

In random weighs just cut things it would be like a family that has to cut their budgets say no let's let's cut the medicine that keeps the children.

Alive it's stupid.

-- having said that his stupid what are the chances that -- -- -- the reach march 1 and of those sequester the 85 billion an automatic cuts.

Will kick -- and if it does and if we begin to see it markets reacting this stuff how does that play out with the president insisting.

There have to be tax hikes on the rich.

And that Republicans saying no it all needs to come out of spending cuts.

I think it's very likely that we do hit that day and then it comes and the reason why is because.

The Republicans have been asking the White House to come up with some sort of alternative which you actually prioritize.

Look forward to maybe do something on entitlements they won't do that.

Well -- now senate Democrats came up with a plan that sex.

-- partly cuts but yes also accept half and half.

And the Republicans that look we just attacked -- to detect -- a month ago you know now it's time.

You can tax everybody a 100% of their income at the higher and and it's not going to deal with this we have to have a main focus on.

The spending problem -- the question is going to be how the White House decides to implement as to whether or not they're gonna play really big games because the temptation for the White House here is going to be.

There is some latitude in how you can actually put these cuts into affecting you could do them in a way that doesn't hurt as much but -- temptation is going to be to just.

Make it as painful as possible satellite.

What school districts do there was couple finance programs for the school busing to make the parents want cough up the money that the school does not.

Everyone -- here because -- in the White House is already put out it's going to be kids thousands of kids aren't a lot of -- start you won't have food safety inspectors to make sure our food is safe at all in all kinds of dire things as small business won't get any kind of loan guarantees.

So they're there they are scientific work -- -- make it hurt.

And I think the news media will play into that at every level but I think the big ticket here is he -- cutting jobs are cutting millions of jobs around the country and you're damaging the economy so stupid -- about that it is good work where it's it's taking any.

Hatchet to the economy in a moment when that economic recovery no matter if you're Republican or Democrat by everybody that's -- -- Is in a fragile state so that doesn't make sense now the president says.

You know what look back to that negotiations he was having with speaker Boehner he says lot of those.

Proposals are still on the table we can get back -- let's have a three month delay.

Let's kick the can down the road -- are there and let's make it let's avoid this week a special month to align right.

It does well that's the way we -- apparently govern -- watch him go from one crisis to another the question is.

When you bump up against that when you come up against the -- and you come up against the pistol -- Usually we put it off.

But I think this is one that is going to cause tremendous damage in the quest at his age with I that would I was gone for a week what are they have time to negotiate.

85 billion dollars of three and a half trillion dollar budget but it's a small guys added that it -- if you gonna hurt the economy what's gonna look you lose your job I think it hurts you know.

Well I mean and fundamentally.

The the debt that we have at the moment as the bigger problem for the economy -- Should I -- -- -- -- Carlin here.

One to talk about the sequester but also.

In a bigger sense look at the president's state of the union speech in the agenda he laid out and what does that tell us.

About what he wants to do and a second term spent a lot of money and pursue a lot of liberal social policies.

And it also says at least out of touch with the reality where the country is that the Democrats have spent the last week going around saying.

We don't have a spending problems on the fox poll 83% the American people say.

We've got a spending problem I agree with -- 85 billion dollars cut is a 2.4 percent cut roughly out of this year's budget that's a chunk.

But a lot of families and had to cut deeper and it is an 85 billion dollar cut in government spending when we have a sixteen trillion dollar economy.

The administration is right to say that there will be some.

Problems with across the board haircuts.

That's why the Republicans in the house have been talking about in the coming in this continuing resolution to fund the government that's gonna follow with a matter of a couple of days.

Including flexibility for the president.

And the administration to move money around between accounts to catch you -- shipbuilding -- -- DOD that says spend out for the next five years.

Allow them to take some of that money included in -- maintenance and operations so they can keep the fitness of our current services but look let's be honest about this this was a bad idea.

Foisted upon us by the president of United States who has had eighteen months to lead the country in a way that we could make Smart cuts not stupid cuts.

We cut we cut 600 billion we added 600 billion dollars in tax revenues in January the president ran last year television ads say.

For every dollar in -- and in new revenues we ought to have two dollars and fifty cents and spending cuts.

And now where are we were talking about replacing anybody powers most all of the residents sequester because no other word well.

Hello I -- I'm not I'm not planning and the way.

How does this good play and they do it Indian -- and they really don't want to talk about the origins of this sequestered now.

But the Republicans definitely have a role in this but I I think we're missing.

And this is where you have to look at the trees in the mandated cuts let's just take the national institute of pale.

5% cuts.

This this is one of the -- tools of American science what has.

What that NIH is done in these -- it's in a 5% cut is going to be devastating.

To empire Clinton should do.

85 billion dollars in cuts that wouldn't be devastated I'm going to be right now it's me a million dollar and Alan -- and trying to you know what I'm really.

Republican -- Internet when they're bad but it's mandated in law in the White House instead you that's the point of the house Republicans they're saying.

Make Smart cuts for coming.

Yeah certainly people are Republicans in the house most Republicans in the house including speaker voted for this.

Yeah that's what the president but look here's the deal if Republicans now are for the sequestered because they have no trust.

No confidence in the president's willingness to cut spending all he had eighteen months to lead us and he hasn't.

But the but the fact of the matter is is it.

We have tools to avoid the kind of thing we're talking about if congress will sit down.

And the Republicans are willing to grant the Democrat president the flexibility to make these cuts in a manner that he determines and he'll get.

Does India yeah -- -- there is -- movement.

Behind the scenes done this I think some of the Democrats.

Have gone to the White House and said no way Dominican -- delayed this sequestered for one year.

In that makes sense.

Granted it's another picking delegates can Republicans -- they -- well they think they might and I think you know no wait a minute you've you've got a situation where this is so idiotic and in one's right.

This is about jobs it's about the state did the economy you know it's definitive well I was busy negotiating a -- not to -- -- -- I'm glad we cleared -- -- thank -- thank the panel.

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