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-- -- now -- senators in their last ditch effort presenting yet another deficit reduction plan tomorrow.
To about fifty bipartisan.
Joining us now for more on the debt negotiations.
Senator Ron Johnson Republican of Wisconsin.
Senator good to have you with this.
Plan now home tomorrow.
What are your what are the prospects.
Well hello little thanks -- -- I think got to -- the cut cap and balanced approach would actually fix the problem.
I've watched thought this is going to be -- two step.
Process to fix the fact there were bankrupted -- this nation we first have to establish those hard spending caps the fiscal discipline.
To force Washington to force the politicians here to start prioritizing spending.
I don't see it getting down and any other way.
He said the very beginning of some of the hour hearing you talk about these secret meetings that is the wrong way to convict them conduct business here in watched the most basic.
That is business as usual.
And business as usual here in Washington is bankrupting this nation.
Bankrupting the nation -- if anything else -- come of all believe focus over the course of the last several months.
On the debt the debt -- negotiations.
And deficits it is that our fiscal policies unsustainable.
Let me ask you this.
Where do we go is -- the gang of six plan is that the president's plan.
-- you know where where are we headed Tom Coburn comes out with.
The most aggressive plan on wall.
There's no part of that seems -- -- with a question as it is with -- -- plan as to what the political will will tolerate.
You know what we should start with the is is we should start out in the open.
And here's my primary objection to a sap the last six months is -- Republicans actually passed a budget we did it on time.
The Democrats have not passed a budget in over two years.
The president's budget was so -- serious.
It lost zero to 97 in the United States senate not a single member of his party -- fort.
We would -- increased our debt by about twelve trillion dollars over ten year period.
So first of all I think -- the Democrats the president actually have to show the American people.
What their solution is the Republicans already have and we've got another proposal and I think it's a very common sense one.
Cut spending next year.
Cap the increase in spending over ten years to put us on a glide path toward a balanced budget -- There will -- increase the debt ceiling.
Contingent on actually passing a constitutional amendment to the states to let the American people decide whether they want to instill that fiscal discipline here in watched him.
I think that's pretty reasonable when you do that very quickly it.
I think the American people would give that support so what I'm hoping happens is that the house passes.
Cut -- and balanced bill.
And then we actually give it time to build pressure here in the senate before we take a vote I don't -- -- see is more on this and this week.
I want to delay that's -- we can actually get public support for something that I think would actually fix the problem.
We're we're putting operated a chart right now showing the national -- senators you well know.
It from nineteen anyone to 200413.
Years was required to double the national debt.
Only seven years required to double live again.
And we're on a trajectory to double -- in -- far less than that now or over the course of the next few years.
Do we have time to watch things -- in this country or is this thing just about -- -- as it can get I mean we are on the verge of serious serious.
Fiscal calamity in this country.
That what -- I don't think we have the time.
That's why I think it's time for us to actually drop hard line in the sand and say -- unless we fix the problem.
We should increase that debt ceiling and let me tell you you know what the presence requesting -- 2.4 trillion dollar increase the debt ceiling.
No that's that's as much debt as we incurred from.
Be -- from our founding till September 30 198087.
Almost in the Reagan administration.
Our total national debt was about 2.3 56 trillion dollars that's what he's requesting and we would blow -- that in just fifth.
If they may not worried about August 2 sure because -- -- because the president has sold scared the markets something could happen it would be self fulfilling prophecy.
All right and far more freedom is the actual day of reckoning when we're -- the reserve currency where we can't continue to borrow money.
Due to delayed to print money to delay that they reckoning that's -- that's the real debt crisis I'm concerned about.
All right we'll senator Ron Johnson we thank you very much we appreciate it good talking with --
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