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Mayor Antonio Villaraigosa, (D-Los Angeles), on efforts to reach a compromise on the debt ceiling.
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President Obama meeting -- senate and house leaders tomorrow to deal with the debt ceiling.
The democratic mayor Los Angeles has a message for both sides.
-- boxing it -- geragos is saying Democrats Republicans each have to forget about their sacred cows to avoid looking like horses behind the mayor joins me now -- sir what do you mean by that both of them have to knock it.
Off.
For thought that town know that you pronounce my name better than he does not it's great beyond yourself -- -- -- -- It's great to be on your show look at you know the man I was on the show -- you know I just the other day.
Where you had Scott Walker and governor's case -- Governor Deval -- -- all of us have said.
That the congress -- to stop dithering that we need Democrats and Republicans need to come together we have to address the fact that.
We can't.
Did there with the full faith and credit in the United States of America there is.
Attempt -- I think attempt latest Simpson Bowles.
And those recommendations you know -- in our city we've looked at we cut about one point.
A nine billion dollars in deficits we've had to find efficiencies as you said cut.
Waste got 4600 jobs.
In our budget we've gotten concessions.
From our unions.
Here in cities across the country we're talking about pension reform wee -- able to do that -- probably the most far reaching pension.
A deal in the country.
Altogether.
About a billion dollars in savings over the next three years the congress ought to be able to do the same and the problem is they spent a lot of time pointing.
Fingers at one another screening and -- another not send out a role in their sleeves and doing their job.
-- -- The president and back when he was a senator in 2006 -- -- really important points here.
His -- they said that you know not basically the debt ceiling reason the debt ceiling raising it.
Is a sign of a lack of leadership and he's criticized recently at that -- back then.
And he said Americans deserve better Britain now he's saying you don't raise that it's gonna cost Americans jobs I mean where did come down on and that with the president saying now.
Vs what it was saying when he was a senator you back in 2006.
But a difference a couple of years make a look I'm not gonna defend what he did the first time I think he's right now that would this would.
Set the economy back I think we need to work together Democrats and Republicans.
There is a middle ground here you said we gotta cut waste we've got to cut fraud gotta find efficiencies in government.
We're gonna have to curtail spending very dramatically I also believe that we can find ways to.
Close tax loopholes -- cut some defense spending.
You know what the -- its interest in US conference of mayors on a bipartisan basis to only three mayors who voted against it.
We we all came together and said you know if if if Democrats or Republicans.
Or don't -- -- cut entitlements.
If they don't address.
The growing defense budget.
Close tax loopholes what's left we can't keep on building bridges yeah that's right Kandahar and Baghdad and not Kansas City.
And Baltimore.
You know it's an important point you what you say about bringing some of that money here to help out the United States infrastructure.
Let's face appear on the spending on cruise control we've got a super -- me government that is spending at a faster rate than before Woodstock and before -- -- a man on the moon.
But you know and let's let's just RB clear for the American viewer and that is is that.
-- the death selling fight does not equal a default another -- as a crime congress can direct the treasury.
And this with the -- says to prioritize spending cuts as you've done and the city of Los Angeles when you guys hurt workers saw what was coming down.
We we have our own -- -- -- besides a very good items that you mention anything take a look at it -- and you know the programs and Education Department.
Health and human services.
Hud programs you know a lot of money that Energy Department programs.
So again I mean it did debt ceiling fight is not a default -- default is a decision that would be made by the president right not to pay.
Principal and interest on the bonds.
A concurrence with the congress right.
I think congress member -- are hit it right on the head.
The fact is.
I know that when -- when people were saying that.
-- might go bankrupt and I said not on my watch in -- very proud of the fact.
That over three year period time despite the fact that we -- that the worst -- -- challenge in our history we didn't default and we balance our budget but.
It was clear.
That the markets responded to that those that kind of thinking so while it's.
Technically true what you're saying.
It's also true that the markets may respondent and all likelihood will respond -- very negative way.
Draw down.
The rating and increase.
The cost of borrowing so you said it on the -- we -- we gotta come together we got to fix this we got to cut waste is I don't think anybody disagrees with that fraud.
We definitely gonna have to cut spending but we're also gonna have to -- close tax loopholes that don't work and -- was bipartisan support for that.
On the issue -- -- Yeah that's right Los Angeles Mayor Antonio Villaraigosa thank you so much -- times they're really appreciate it.
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