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White House, GOP in standoff over looming budget cuts

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    Rep. Randy Forbes: Obama has to step up to the plate

  • Duration 5:02
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-- morning Martha the president in the White House saying that the blame lies with the other side.

So now Republicans congress basic simple -- are they well.

To compromise.

To protect vital investments in education and health care national security and all the jobs that depend on the.

Alan -- -- Erskine Bowles the that is that chairman the co chairman of the president's fiscal commission today.

Once again.

Obliterated.

The argument put forward by Republicans that we should pursue further deficit reduction.

In an unbalanced way.

Is -- -- Republican congressman Randy Forbes joins me now congressman welcome good to have you here.

Thank you Martha it's good to be with you so -- -- let's -- to break this down -- but the president is basically saying that he believes that Republicans should pass a stop gap measure.

And that and go for a bigger deal of what he says would be a balanced.

Combination.

Of increase in revenue -- come from tax loopholes eliminating nose and spending cuts has sensibly.

Although we have really seen them.

Well that's the key Martha you know the president -- sequestration it was his propose a lot thought it was a bad idea.

Voted against it over a year ago -- the president when he got it -- the president sounded in the law I didn't have to sounded in the law he did.

And for over a year Martha from August -- -- eleven through the end of last year the president did nothing to stop it.

In fact he even made sure that his administration.

Couldn't talk about it couldn't plan Ford -- latest September the Pentagon was saying they were still trying to understand what the law was in December they hadn't started.

In just a few weeks ago they start coming out now with all these doomsday scenarios.

The reality is that the president could have stopped at the House of Representatives has passed not one but two bills that would have stopped it.

Senate has done nothing.

And Martha when the president talks about a balanced budget you know most Americans think what he means.

Is that we balance the amount of money coming in with the amount of money coming now but that's not what the president talks about with balance.

The you know it's interesting because Jay Carney quoted Alan -- -- But the other thing that he did not quote that Alan Simpson said was that if this president does not get serious about deficit reduction.

Including taking on Medicare and social security and reforming -- entitlement programs that -- he will have a failed presidency.

Do you think that it that that is a message that that Republicans have -- have done a good job of getting across.

Well Martha I think that it's very difficult suntan when you look at the crisis we're facing right now and you look at most of the questions to the president last week.

When he's out playing -- it's whether or not he would beat Tiger Woods it wasn't whether or not he's done anything to stop sequestration.

And the other thing people don't realize Martha lot of -- as the president has already spent this money when he had the stimulus package it was 825 billion dollars.

The interest on that's about three -- 47 billion.

If you add that together that's about the amount of sequestration we're talking about right there.

And so it's something to present has to step up to the plate he -- said his administration has said the number one.

Challenge -- our national defense is the debt and yet the president will do nothing but continued to let spending so -- out of control.

-- but in terms of that that GOP message on this I mean you guys basically gave ban on increasing tax rates that was the initial thing that you have a country was told needed to happen.

If the president was gonna get the balance that he was seeking.

Now he's coming back to Republicans and saying.

You know that he believes that that rich people and the well connected -- actually low let's play this -- they need to pay more out of play at a summit yesterday.

I'm willing to save hundreds of billions of dollars.

By enacting comprehensive tax reform -- gets rid of tax loopholes and deductions for the well off and well connected without.

Raising tax rates.

They think that that's -- Well first throw Martha we know what the president does every tendency -- news the goal post.

He said that what he won it was these higher rates he got -- but that wasn't enough.

And we've got to understand when -- president's talk about comprehensive tax reform some of things he's talking about in there.

He's talking about doing away with charitable deductions which could be a part of that.

Could be a part of it could be doing away with the mortgage interest deduction.

Could be a part of it is capital taxing capital gains and dividends as ordinary income.

All of fat content and enormous impact on the economy and the middle class of America.

So I think it's time for the president to do what we need to do which is real in spending.

Get a control and handle is spending and try to ballots and join us and that I would imagine it -- -- take -- -- social security and Medicare.

As thousands as -- -- I think I think that's an important thing forced to put on the table and as she mentioned most of the experts have looked at it and said we can't sustain.

This mandatory spending that we're gonna have over the next decade is that a bankrupt the country.

Harrison Forbes thank you very much still lucky guys I want -- -- this guys seems good to see on hands raised.

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