Is president downplaying US debt crisis?
Joe Trippi weighs in
- Duration 4:37
- Date Mar 14, 2013
Joe Trippi weighs in
Also in this playlist...
This transcript is automatically generated
Some new information today on the White House's charm offensive as the president gets ready to meet with senate Republicans.
This after he met with GOP members on the house side.
And seemed to downplay our nation's debt crisis.
The president telling ABC news in an interview that there's no immediate debt crisis and that for the next ten years.
It's going to be in a sustainable place.
Joining us now Joseph Trippi former campaign manager for Howard Dean and a Fox News contributor as well Joseph know.
No debt crisis the president says how can you explain that.
Why I think what he's saying is look who.
Ball -- and -- -- four trillion dollars either in revenue.
Or spending cuts.
To to avert future -- crisis in the United States.
We did it if sequestration stays in place.
Where are 43 point five trillion of the way they -- now.
We might not agree on how congress and the president got us here but that's where -- I think the president was saying look we.
We're not in a place where we don't have a vote tomorrow on this we're gonna have automatic cuts come into play.
We're in a place we don't have to go to our two corners and come out fighting.
We got that that we were balls the way there we can't take time and come to agreement.
Between the two parties on how we get the rest of the way there I think and I think that's what part of this you know so called charm offensive is about.
Let's try to come to agreement on how we get there.
It and not come out swinging.
From the fences on on both.
Parties plans to get there but let me show you some statistics.
And these come from you know places like the Congressional Budget Office -- the federal treasury and so forth.
Under President Obama our nation's debt has increased by six trillion dollars.
The increase in interest payments.
On -- the interest payment I should say on total debt.
More than a third of a 1000000000360.
Billion dollars in 2012.
And 36% of our national debt has accumulated under this president that doesn't sound like.
No immediate crisis to me -- Well -- and look all those those numbers are accurate but -- the reason they're accurate is because we are we've got to crisis is going on one we're in a jobs crisis -- A slow economy.
And and how do you -- that.
Austerity and cuts spending cuts and raising taxes as there and the Republicans are right about -- raising taxes slows the economy.
It's cutting spending slows the economy.
So we're we're trying to deal with both of those crisis is that the same time.
We've gotten to 3.5 trillion in spending in revenue increases and spending cuts.
Without while the economy's continued to sort of grind slowly.
I think what we're looking at -- on with what we're hoping I think everybody hopes both sides come together on again how do we get to the four trillion at all -- -- recommended.
Without killing the economy.
And I think that's where why you get both these sets of facts that are true both sides are actually right about this now the -- this.
And we have avoided killing the economy by trying to address it everybody agree is that through the long term driver of the problem are the programs like.
Medicaid Social Security.
So this president doesn't have to run again why not do something bold.
And tell Americans you know if you're under fifty years old were gonna change the system everybody's living longer everybody's.
Collecting bigger benefits we cannot.
Continue with a system like this the president has the power to do that and and -- and the capital.
What -- Paul Ryan says that after the meeting that the president did himself some good now we don't know what got said that the idioms that some good here but.
I suspect what's hopefully gonna happen -- -- from both sides is we'll get some of the revenue.
Increase revenue and in in shutting down loop holes and and corporate track tax breaks that the president and Democrats in the senate want.
And and I think the as a compromise you're gonna see some changes in those in those programs whether.
Democrats on the left like it or not or Republicans on the right you don't want any taxes.
Like it or not there's going to have to be a compromise here to get to that four trillion that's what this.
Charm offensive and all these meetings is really about my arm and Joseph Trippi we will continue to watch it as the charm offensive and the negotiating goes on.
Thank you Joseph for your insight thanks thanks John.