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Sen. Orrin Hatch, (R-Utah), on why he did not vote for the debt ceiling deal and whether the President got anything out of the deal.
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Welcome back everybody had the ultimate outcome of the nation's capital and everyone has the kind of same question and I've been gone back and forth with senators.
And congressman alike government both parties what all the parties got us -- particularly the president He signed -- a deal.
That was a far cry from when it was very close to accepting with speaker Boehner little more than.
Just not even a week ago and that was a plan that would have involved.
800 billion dollars in tax increases speaker Boehner had agreed that in though they weren't calling them tax increases at the time their revenue enhancements closing.
Loopholes in the like in the talk is that the president.
It's you know torpedo of that and then ultimately the deal that was his with the for the making.
Was gone when He insisted on another 400 billion dollars in tax hikes you know what happened -- that the whole thing blew up.
Here we are a deal that calls for no such tax hikes so what did the president get and why are so many members in his own party saying.
You Kate to Republicans and got squat for us and -- -- Bob could you talk been around this place.
Couple seasons he's the finance committee ranking member -- did the president get anything out of this senator.
Well not really -- -- the fact of the matter is He wanted He did get one thing that's what you -- more than anything else that was to get.
Carry -- be.
On the next election.
-- -- have a deal that that would go through the end of next year right.
But I -- Republicans could argue -- to their benefit as well since this whole soap opera has hurt the popularity of both congress and the president.
Well I voted against of them but there are number of things that are gonna -- to and I gotta compliment to us bigger burner and right thing.
Why did you vote against my voted yes because basically basically I don't think that kind of I think we've got to do much better job -- that the -- we've got a trillion and -- half.
-- deficit this year alone and then we're talking about a trillion dollars in cuts secondly I don't particularly like the the noon joint committee.
Because if they don't arrive at a conclusion and then they're gonna have to sequester.
Over a trillion dollars and 50% of of the charge of the -- which we doesn't.
-- you know this terminology better than anyone senator but the bottom line is that cuts would.
Forcibly to -- -- including in as -- -- and I have three dollars and defense.
But how likely is the committee to avoid that sort of business and there.
Well that's a heavy traders are suspected convention do everything it possibly can.
To resolve that problem but if you're Democrats on that committee.
You're okay with that million because that means cuts of 50% coming out of Social Security Medicaid Medicare and a number of entitlement programs that they.
That they don't think need to be reformed in -- do so it's not on this committee has got to do something you just say it's going to be kind of hard to do something so where we ended being.
Senator in November December.
Well I think I think the committee is gonna have to look for something hopefully -- come up -- -- -- that it won't be devastating to.
Either in the entitlement programs -- to the defense.
We've got to keep strong national security there's no question of the whole world depends on the United States and we have to be strong because the rest of the world is not strong.
And that means getting our economy under control in getting our economy back up and running -- Worried that that that part of the equation over which should really have little control right now is imploding in other words we've got some more -- economic news -- a very bad day in the stock market.
-- -- we're string of bad days since I think the fall of -- -- we have the big meltdown are you worried that another meltdown could be on the way.
I don't think there's been a remote because I think they're having solve this problem was is it is a good step in the right direction but keep them on movies never so that -- That we would have -- -- because of failure to an increase of debt ceiling they said if we don't get spending under control we're not going to be of a resolve these problems and there are people out there are up in arms they're sick and tired of the lack of accountability here -- -- you see.
Lack of -- kind of congress lack of accountability in the in the executive branch of government and they want to see something done here and frankly.
We've had too much too much spending.
And too many taxes and the taxes on working and spending his way off the charts we just got to get a better control.
Well -- you know it's up some of the liberal colleagues.
You know.
Well personally so it would have holdings of -- -- -- -- -- of our product and sometimes that but when it comes to the issue expanding its and now it's.
If Republicans argue -- that the time to be thinking of raising.
Prices.
Our taxes on anyone then did they must admit that dated to slowdown going on now is not the time to be cutting spending.
But He say that.
Well if we cut spending that would trigger I think and economic expansion that would be terrific to -- -- settlement -- they're going to do something for a change.
There really make sense other than raise taxes.
And frankly you know just let's just take one with little illustrations we went to the territorial system.
With regards overseas earnings.
That are parked overseas because they get taxed 35% of they bring them back here and that's a double tax I think effect in the country there text here.
If we didn't find some way of going -- -- territorial system where we can bring that better than trillion dollars back.
And and have a reasonable approach so they bring it back.
And from that point on are the same as the rest of the countries in the world of the a lot of revenue -- -- -- -- -- -- -- -- be a lot of stimulation of the economy would help.
Create jobs and frankly we ought to be stimulating the private sector and and us public sector but.
This administration.
Doesn't have any -- -- the White House is ever created the private sector job they're that a public sector jobs.
We don't need -- more of those are -- better private sector jobs in the present himself.
You know -- was gonna have to leave in the essence of recent.
-- senator mean get back -- -- -- so it's a very good C units nice to see you sir I had in Texas thank you.
I was struck I don't sing but I do -- -- -- -- don't -- the writings I can segment you a little the other night just wonder about.
