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Former Senators Bob Bennett and Byron Dorgan debate the government's inability to come up with a payroll-tax plan.
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I would say it's scrambling to reach a deal on the payroll tax cut of the word now is that the Democrats have -- abandoned that idea of paying for it all with a surtax on millionaires here -- -- -- -- bunch of the former democratic senator Byron Dorgan and former Republican senator Bob Bennett's.
These days both or senior policy advisors -- Eric fox helped welcome senators -- to both the -- senator Dorgan I can.
Let me start with you on this idea of paying for a payroll tax cut with a tax on millionaires if you're the Democrats as it is -- a good idea.
Not to push so hard for that anymore.
Well the president propose that I supported it but.
It appears that -- there's brinksmanship here on all these issues these days and now we're headed towards.
The next day or so potential government shut down -- bush you know it's it's -- long past the time to.
Get rid of square tables and get a -- all round table and ask people to negotiate eyeball by vol -- and figure out a compromise that'll work.
Let's talk a little bit more about that then since.
You brought it -- senator and -- senator -- when that when we cut our debt downgraded -- -- -- -- downgraded the debt back in our the credit rating back in August they talked about the dysfunction in congress.
And -- -- for us watching the economy -- the markets that certainly something without getting into the it merits of each side's argument.
That that people are word about that you can't get anything done here we are.
Talking about the possibility it probably won't happen because it seems like we averted every time but we're talking -- the possibility of another government shut down.
Yes and that's one thing that have upsets everybody but become more important to me.
All obviously I'd be concerned about it shut down but more important to me in the long term.
Is the fact that as we lurch from one crisis to the other on this issue.
We never get around to making the long term decisions and the long term fixes that we have to make we don't have those discussions.
Because we're seeing the arguments over the short term.
What we do in the next week and that makes it impossible for business men and women.
And investors to make any kind of long term decisions for the United States the more they put that off waiting for the government to get over it's dysfunction.
The more they damage the long term prospects for recovery that is equally as disturbing as the fact that they don't seem to be able to make a deal -- on any one particular issue.
We hear it all the time whether it's CEOs of big corporations whether it's people who run small businesses that it is hard.
To plan for the future so.
You know and to the extent that we can have that discussion here in I don't know about how much you -- probably in fairness -- -- more need more time than we have today to have it both of you know that.
Senator Dorgan would you agree and then -- -- senator bed at the same question -- -- -- sign up for something like.
Simpson Bowles which everybody seemed to throw out the window last year is that where we should be headed in these discussions long term.
Oh -- signed I signed up for Simpson Bowles absolutely.
Okay by the way when you talk about downgrading our credit for this country S&P which by the that would was providing triple -- rating to bad securities some while ago.
When S&P downgraded -- the country have my uncle Harold could've done that I mean where a country with.
Now fifteen trillion dollars in debt now and a lot more in front of us unless we take some really tough action what -- used to so -- -- I was gonna have senator Bennett if -- it's -- up just for Simpson vols because we've.
We've had we've had this discussion over over our show and I'm just wondering whether that would be a point of agreement and why the heck we can't get move forward on something like that.
This seems like former officeholders are much more likely to agree to it than the ones are currently in office but what's what -- you say about it senator Bennett.
Well I was very disappointed that President Obama did not embrace Simpson Bowles it was a bold move on his part to put that together.
After a similar activity similar proposal died in the congress he said no we need to do this and he put this thing together by executive order.
And then abandoned it after it came out and I think that was a missed opportunity on the administration's part.
And unfortunately on the congress is part as well.
Why aren't the discussions that take place to just go back to the earlier question there why aren't the discussions that actually take place between I guess I know the answer to this senator -- but why aren't they more like the ones -- having today the -- to take place -- People who actually hold office right now simplest money in politics or something more to it.
Because -- -- that but it's also a circumstance where there's very little negotiation face to face -- more.
It say you know when your side and my side.
And so the you know they've fraud.
Ideas here in there to the press but there's very very few times when people actually -- out across the table or around a table.
And negotiate a compromise because compromise as you know for some in the congress particularly some of the newer members is a four letter word.
But it's and lubricant that makes democracy work when you and I disagree on things we try to find a middle ground in.
That's called compromise there's very little of that these days unfortunately you optimistic -- about it moving forward and and believe it at that because you know the economic data is getting a little bit better.
Who knows what's gonna happen in Europe long term but the dysfunction in Washington still a concern for a lot of people in business.
I'd make a quick comment I don't think Europe is gonna get any better I'm very very bearish on this situation in Europe.
And on the other question if I may I'm kind of the poster child.
I was attacked for reaching across the island -- -- with Democrats.
And I lost my seat as a result of that and there are a lot of folks who say well gee if Bob Bennett who was one of the most conservative guys in congress.
Can be balanced by the conservatives -- -- primary circumstance no I'm -- never got to the primary ballot I was defeated in convention.
But of Bob Bennett can be -- because he's not conservative enough I'd better watch my own voting record and I've watched a lot of people who have history.
All -- working across the island making compromises.
Start backing off from I'm sorry to have been the trigger for some of them.
But.
Unfortunately people people are looking at what voters are doing.
And they're they're making a decision that is in there there interest regardless of the money -- politics is there interest in electoral terms.
To me more rigid and support their base on both sides and frankly there are some things more important than being -- United States senator.
And I found that.
A much better off being being comfortable with my conscience.
That still being in the senate and being put under those kinds of pressures to Bob you've got to stand with us on this even though -- -- -- it's a bad idea that.
That kind of pressure from the electorate is being felt very strongly now -- some commentary on where we are from firsthand experience senator.
Bennett thank you for that senator Dorgan thanks to you as well for coming --
