Sen. McConnell Blocks Vote on Debt Ceiling
FBN's Neil Cavuto weighs in on the fiscal cliff deadline.
- Duration 7:28
- Date Dec 6, 2012
FBN's Neil Cavuto weighs in on the fiscal cliff deadline.
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Are -- -- thanks so much that fiscal cliff talks at a stalemate that former senator Alan Simpson trying to shake things up check this out.
-- -- Stop -- -- Grammy your breakfast and creating your first world problems.
And getting on YouTube actually can -- -- -- style.
They can -- the campaign so former senator Simpson had us talking but.
Is it enough to get Washington moving -- is now on -- move yeah but he's a senior vice president and host appear at a dance right I was a kid and you're -- -- president didn't -- breaking news just moments ago that.
I sort of scenario they can't and that and the reality is -- they're just not moving the ball and and -- it's ridiculous but they're not.
But will say this I know I stand apart from you know a lot of our media colleagues.
You know -- debt deal.
Is -- better than no deal if it's a deal that skewed so heavily on tax hikes.
Been very little on spending cuts you're gonna have more damage -- you really want and he'll probably get the credit ratings agencies.
Downgrading the US debt anyway -- -- have you solved there are so I think sometimes and a rise.
To get a deal also like -- around a mortgage -- first -- you gotta go little note that it is -- Manhattan and a importantly get a car gotta do Nana -- and outlook you know I'll go back to a -- the same girl be there.
You know another mortgage opportunity will present itself -- We've got to be very careful about.
Did the deadline notwithstanding.
That eat eat eat it doesn't mean a deadline for doing.
-- -- -- I want for missing the forest for the trees -- congress in particular because I'm concerned about the overall economy I don't think it matters to your point what happens with this fiscal cliff.
I think the economy is at a stalemate unemployment look at the jobs report tomorrow is dismal.
We're looking at an inflationary environment down the road I mean this is that lets you know you could make the argument to that is you do invite.
-- -- this deadline it would be helpful -- -- termed painful the longer term negative.
This spending cuts are not that dramatic they're not I like -- really shield like that that tax hikes are very dramatic going over the -- and when you really look at the numbers.
It's still and then you know like five to one and raising taxes to cutting Spencer I really talking about cutting spending.
The first thing you would do I mean if your fiscal house was in such disarray are on households is -- the first thing you do is stop spending no one's doing.
Well what scares me is just that point whether you agree or disagree -- -- indexes I think it's gonna come guys I.
Not a fan of tax hikes of any sort on anyone but I think it's gonna come I think we can get past us now I think.
And Charlie gets renewed just out of -- united argued this look if elections have consequences I think one of the consequences reelection is that.
The president will probably get his way on raising that big -- for most rates.
I'm I've not taken a stand on this and let's get past that that's gonna happen what you Republicans should do is just realizes just as you'll also Watson didn't mean.
He suddenly lost your backbone you should stand.
Strong on making this a precursor to getting serious tax reform.
Getting serious spending cuts and cuts and as you point out most is really.
The long term -- because there's one about slowing -- broke the spending and that that very very big difference so I I think.
That fact that we see a deal largely absent any of that spending stuff and -- -- -- -- -- -- chairman of the Congressional Black Caucus on.
He told me you know -- -- would not -- Social Security or Medicare or Medicaid -- You know Dan watts.
So I think we have to get back to the then what stage and that's why argue.
We shouldn't look at this with just the deadline in perspective right what we do to meet that deadline.
And to -- point what's got lost in this whole discussion.
Is growing the economy.
-- what would really solve the problem would be to grow the economy and then you could see more revenue then maybe if you -- spending it would make a difference.
But that -- completely given up on it and there's no hope -- Well you know one of the big mistakes is -- -- and reporting not gonna fox business and the end is is that when we look at -- we don't want another Europe they cut cut cut.
And that's what produce these -- riots and then.
Cascading economists now the reality is they implemented the tax hikes first.
Did the millionaire's tax in Britain that didn't affect -- millionaires that they had to.
You don't dial back.
In France of course in all these countries and Italy and other resume that excise taxes -- they went in first.
Then the cuts came after that whatever meager cuts well and again that was broke with the growth of the growth right so.
The lesson be learned from Europe isn't soon to be careful on cutting.
It's to be careful on hiking and hiking taxes.
Because the beast is the government not -- in my opinion the beast is the government and you don't reward -- beasts.
By giving it more food more dollars.
And that's what I fear is -- on the president's desire to get rid of the debt limit the debt ceiling limit at all what kind of ramifications look at what what could happen.
When you are -- looking -- another debt downgrade because a second downgrade could be really really -- -- I agree with him on this this charade -- go through.
It's -- every few months on the debt limit.
Republican presidents democratic -- it is silly and it does as Mark Zandi.
The move Moody's when it does damage our credibility.
So I do agree -- -- -- that I didn't like by by fiat that he set out all handle this debt thing.
But you know that would be like -- letting me run loose and a Best Buy electronics store not a good idea so.
I understand we started -- we do have to find a way that we can.
And you know not hold our entire government hostage.
To these debt ceiling inches.
But I just don't like to he's doing all take over here and that's that could be the -- garden and I I think looking at another debt -- regardless not to be Debbie downer.
But I just highlight I don't think you're the no -- what kinda deal comes together here if we know it won't be worth -- -- It doesn't matter how much you raise taxes -- -- spending to your point you've been on this you know theme for you know it that this spending cuts -- not -- -- have to.
Yeah me well are not like she's she's tired of your book and it.
Time now we'll work I don't know -- did more than what will it work what do I know that you're also gracious about I precise gee she sounds a lot of books I did not do -- do I got a lot of books that differences in Washington isn't selling the story neither side as I think most appalling what's going on now Washington.
Is no guts no glory nothing nothing -- that's what's insult.
Now well this is fine thank you now thanks -- you want to note on MySpace special on this we -- yes and yes we want that you can't fret -- -- on price -- blast off into space.
Well yes I do blast open space nobody have a special fortieth anniversary of the last -- -- to -- on the moon I'm gonna get a capsule and go to the sun.
Aren't I really that's how are hard but don't get tickets of most of the surviving astronauts and how look back at it's not talk about -- and -- They just did what they had to do and no it sends a point of things finger pointing about it.
And you know we could -- to do -- to go back to and they had guys and I need to do it -- That's the sad part now but it was spent -- yeah it was spent wasn't productive I think when and that the Morse fatter cuts the board.
Upsetting cut a devastating devastating and we look the space coast and Florida right I mean it's an abysmal I was -- last night in the wrapping this up and.
You know what's -- -- decides -- stunning it is a kid can travel all around.
It's no musings yeah it's definitely a museum -- should not that's -- do you sleep.
All ever or you just wire around it's doing television is -- question do you -- not a candidate.
-- where younger I don't think.
They -- goodness that's totally off the rails toilet -- -- -- --