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Former Senator Alan Simpson on the Supercommittee's failure to come up with a deficit deal.
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Well now that the super committee has failed some senators looking for other ways to deal with the deficits we heard from Republican Lindsey Graham also from Democrat.
Joseph Manchin they've called for a vote on.
Yeah the Simpson Bowles deficit reduction plan -- -- that.
Here with some of -- today none other then Alan Simpson.
Former Republican senator co chair the deficit commission and I don't know Tom -- of the New York Times this morning of senator go big mr.
Obama calling for Simpson bulls again.
Is now the target we're gonna start listening to you finally -- what.
Well there is some that they rejected it had a hand in the read all the stirring is going on of the reason that they just it's like areas like hold them up.
Cross product of vampire of this listing of -- was the suspect.
It was 67 page as everybody has skin in the game.
We gained on everybody we could find.
We we talked about shared sacrifice.
We talked about going broke and then 67 pages describe specifically what to do.
And you don't pretend you can't do anything -- defense you can't -- pretend you can't touch Medicare you can't.
What are we doing it would start with the easiest thing to -- would be -- restore solvency of the Social Security.
-- -- -- -- Get the retirement age up to 68 by the year 2050.
Because the AARP's.
Everybody can't figure out what to -- realize that that -- that rock -- -- If they can't figure out what to do of that -- normal life expectancy right around 78 yeah I'll go -- a stupid.
Any chance then it'll come back up you think for real and mail and because everything else has failed nothing else is -- that they'll go back to -- and say.
Well we think and we really should have done it now let's do it.
Well I don't know but this report comes up their -- throw up because they're gonna get hammered.
They're gonna get savaged by the real terrorists are gonna get savaged by the AR appear can get savaged by Grover Norquist who wandering -- -- -- white robe on.
If he's the most powerful Britain -- America right now he should run for president and give him credit.
Grover Norquist is now an analyst -- two years ago is now the most powerful Kirschner of the United States -- -- -- -- that crown.
You really believe that -- -- -- I do.
Overdone or it's for real but this no tax pledges the reason that your party the Republicans would go along -- any.
Global believe that because usually becomes up to him and he says you know you signed this baby and you don't want to be a liar well.
Buy side is some fifteen years ago if you have -- -- -- the debate.
Sign things one thing for roses.
In the pathway.
Growth was easy.
The debt was not -- deficit was down.
And then now it's -- different and he's still hold their feet to the prior let me say it.
All he can do to really can't Mercury -- can't he can't burn your house -- only thing you can do it really does speak to us for reelection -- that means more -- that your country and extremity you shouldn't even be in congress.
And then on the other side of the criticism is that the president hasn't shown enough.
Leadership.
Well it's wolf -- I mean.
When I was there at least the president used to present something they'd say.
Where is Reagan's proposal where -- Clinton's proposal where is that.
Where is the proposal from from George Bush and and you got a proposal from the White House.
And then a few weeks ago it made a statement about the economy and never mentioned the solvency of Social Security that is of absolute -- about it -- It's it's an application of leadership and I said that of course -- about came up that.
Although.
Not a good separately would on the balance the budget on the -- of oral change -- -- -- health.
They're gonna waddle up to the -- don't want is 36 and get a -- replace 3% last -- -- -- the -- -- do nothing.
Now not only are you followed by the tough on just about everybody as we've heard it here over the last few minutes but you're pretty good.
When you have been over the isn't -- -- political tea leaves and that's why you just mentioned the fact that they won't go with your plan most liked because they get hammered from all sides.
Politically that said this has to get resolved more I mean it doesn't have to but the assumption that at some point we're gonna figure this out there were not.
-- -- -- the country go wonder because we can't solve these problems that long term we know the answers and at some point there will be a resolution.
If you had to guess not advocate for position but guess what that resolution will be.
What do you think going to be.
I think that in the chaos of the next year -- they bounced this stuff around.
And everyone -- we'll go home state.
They want to raise taxes but I got to -- those say they wanted to cut social security and Medicare -- -- I think in the next year.
With what's gonna happen in the world -- overseas and here in the turmoil.
That the guys that didn't have they've -- for the courage to step up to the later gonna get beat.
In November of 2012 and I don't care what party -- That's what I see.
That'll be the message so after the election that's -- it'll get solved.
Well hopefully now but but bubbles -- that is -- the market.
On the tipping point comes -- all disappeared near people who won't be number one.
Yes people say what is fifteen trillion bucks and nobody has the slightest idea what that that was going to be the bond market to push them into -- -- -- report not yet the money because they take care of themselves they always have -- here.
Senator Simpson thanks good to talk to -- have a happy Thanksgiving.
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