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The president cried wolf too much to walk then and now put the party in a box that is way to date and -- -- the top ranking house Democrat joins us now steady or.
This was us congressman do you think.
The -- thing was overplayed.
Neil this is not shutting down government so obviously it could be a slow erosion.
Not a -- title away.
But I don't think there's any doubt that when you talk to.
Leaders in the Defense Department.
In the military that they believe sequestration it's gonna have a a very negative effect on our ability to.
Maintain national security there's no doubt that.
When CBO says that this is going to cost 750000.
Jobs over the next eighteen.
To twenty months that.
Those are big consequences now they're not they haven't happened a -- didn't slam a door didn't open.
People didn't stream out of government offices being shut out on.
On any given day or yesterday or today.
But I think there is going to be a slow erosion I think the numbers that are being -- you are -- -- as a matter of fact these numbers that.
I think Paul Ryan is gonna market's budget to -- -- numbers that were presented on the house floor.
Two years ago as numbers two.
Follow and Paul Ryan voted no on the Republican study committee's.
I understand that it would go ahead again on the -- -- -- -- -- -- wanna be clear because you know reading it out they might be owners to your point and they might have.
Longer term implications that we're not appreciated right now but look running at a charter government spending and -- this sort of slices out.
He sequester cuts are just tiny tiny little percentages you know -- an ideal.
But what I do is everywhere as governor Ed Rendell -- it.
Talking about the fear tactics used here and about the administration.
They probably went over the top in terms -- saying the consequences.
We're going to be marvelous that's because it happened and the lines in the airports aren't long and the world has not changed overnight when you get -- If this happened what a few days ago -- This is not shutting down government this is a slow erosion.
So what happened but now let me let me speak to this small percentage that you're talking about.
And I hear people talk about three point 73 point eight trillion budget that's not what these cuts are out of essentially these cuts are out of the 30% of the budget.
Which is about half on the defense side half on the non defense side of what is called discretionary spending 70% of that.
Is not included in in in this figure so the -- largely not exclusively but largely comes out.
Of the discretionary side of the budget and therefore we're talking 567.
Obviously this year will be the first -- of those cuts.
But I will tell you if you talk to Hal Rogers is the Republican chair of the Budget Committee -- of the Appropriations Committee.
He'll tell you and making these cuts over the next ten years.
That's -- will require is gonna hurt very badly the operations of.
-- babies are doing well in Atlanta and ask -- I'm looking at this in the market of course been racing to new highs this week through this are they just whistling past the graveyard today.
Narrowly going along and I -- to the calamity to come because then I look at this and say well awkward -- sloppy cuts even damaging cuts.
Via sequestration -- no cuts at all that appears today.
But -- -- -- Well I think you're you're right because they haven't seen.
As I said government shut -- they haven't seen a cataclysmic event I agree with that -- and and nor did anybody expect that to happen this is a plan.
And this is not just a plan for this year or April or may or June this is a plan for the next ten years.
And I think it's gonna have very devastating.
Consequences for our economy I think Paul Ryan Franklin.
When he tries to present a budget which was pursuant to the deal that Boehner made with his most conservative.
Members to make sure we didn't go over the cliff now.
It is is a budget that's not going to be real.
And they even use -- numbers arm of -- -- -- -- open to addressing big like Medicare and other entitlements like no hole and -- -- an issue that is until I know that's entirely different -- -- balanced deal your -- it or didn't do that.
But -- when you is all about entitlements Medicare etc.
I just want to be very clear.
Is Nancy Pelosi that she wouldn't mess of them paraphrasing here.
Anything having to do with the raising the retirement age -- -- that I think I got the gist of that right.
What are is battle off the table for you was well that whenever you're looking -- -- Medicare Bill Campbell will.
What I've consistently said is.
Everything is on the table it has today including -- -- very frankly my Republican friends say.
Revenues we've done that been there it's over.
That's not accurate you cannot get to where we need to get without looking at additional revenues and -- -- and strategies are already down.
You know the revenues that we Oregon about what 40%.
35% of what.
That the gang of six.
Three Republican senators three democratic senators a Simpson Bowles a -- -- Rivlin.
All of them indicated you gotta get significantly more revenue that sort of those early on I can't.
Stewart's -- thing that that last deal they figure you've you've got the better of them by getting a -- was forty to one in favor of more.
Spending them then again that anything else that you don't feel Neal David.
-- I both know that was a huge tax cut that was a huge tax cut from what was in place.
You remember on the day that we voted on it in place was a higher tax structure.
Four and -- want to.
2% of Americans that we affected -- 1% of Americans we fight before the other 98%.
None of that I asked him what they're saying it was simply too like you're quite right to do those rates all the expired at that propagate what that the deal did -- time.
Woods and weighed heavily more favor raising taxes to cutting spending and they don't want to get snookered again.
What do you say to match that didn't they didn't get snookered at all we had cut a trillion dollars pursuant to the banner.
Rule that if we're gonna raise the debt and not have America.
Welch on its debts not pay its debts and raise the debt limit we had to come up would want to point two trillion dollars -- we came up with a trillion dollars as you know.
Respectively but the girls are -- driver cuts right those -- warmed over cuts that -- agreed -- before right.
I don't I don't know how that no other we're in the budget control act that was agreed warmed over amendments in the budget control lack.
The -- -- he made those cuts we hadn't done any revenues so when you say.
Forty to one that's not accurate -- We did 930 to be exact plus interest and then we did -- 600 billion and revenues now that's about sixtieth.
Friends and allies are 64 so let me extend it to be -- -- think you got -- -- -- what we did not just put in your -- say OK now we're gonna -- there.
They're -- we know back aboard the numbers and is that what we had a cabinet that's a budget wanted to obviously Republicans feel that they survived.
This whole -- stories today.
And that the economy I did okay markets it okay this week it's with the administration and a box not being able to crow about a market that -- to new highs every day this week.
So they feel they got the upper hand.
You seem to be saying -- down the road they might not be so cocky because these.
Cuts will come back to hurt them and -- -- -- -- -- but what I think you have guys -- gonna come back to hurt people.
But what -- -- -- -- and -- -- you can you have attending elementary students and I.
Would wouldn't at all be -- to -- if they won't.
But the pretense.
That that they won't I think is not accurate now if they don't -- you're right but if they do.
As I expected to do and as CBO says.
As military says could hurt national security I don't say that.
And the generals are saying that the -- -- -- that they're not they're not Democrats reply I don't know what their parties are.
But when you have general.
You know when you have general Dempsey the chairman joint chiefs staff saying these cuts are -- -- hurt.
National security I just say hi I know -- -- things are very used sanded down the road.
If there are things like -- I grew to love our -- quite another guy but I never got if there's a -- is sick and I just get a feeling.
That it it won't be a slowdown coming on it will be republicans' fault for what they did on sequestration but you gonna do that.
Luck we'll have to see what's gonna play out but what we really need -- in all -- who back and forth.
What's gonna what's happened in the last 48 hours -- Gordon or last subject to -- I think that's kind of unrealistic you and I both know that.
That it was going to take a longer time to play out as the consequences.
Although I accidentally I don't know unless we get this time I was afraid I was going to be eating mr.
read the start of this week -- -- horse -- was going to be everywhere.
I'd be dad's house and I don't -- When you think that -- and I think that and frankly about my opinion is -- -- think that.
I think you wanted to put out that harsh consequences.
But the fact of the Mallory is university only -- -- -- to -- willingly brought overplayed.
Well -- look for the sake of argument let's say you played it more heavily -- was going to be self evident immediately yes let's say that.
But the fact of the matter is he was right on the fact.
As the chairman of the Joint Chiefs of Staff.
As CBO says are these are going to have very negative consequences and very frankly.
We we bought a lot of stuff -- last decade and we didn't pay for so we have a big debt.
And there's going to be asked to pay -- students seniors Medicare.
We -- John -- -- have to -- I don't know that all right Steny Hoyer thank you very much we'll see what happens always applies.
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