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Congress' Next Battle

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    Byron York of the Washington Examiner on what's next for Congress.

  • Duration 3:22
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At the bottom of the arbor right now let's bring up Byron book Byron York -- as -- chief political correspondent for the Washington examiner Fox News contributors well.

Maybe talk about what's next bargain to see you.

Because that's really what they did right in many ways is created another cliff that overall that the do this all over again and and -- not too long too much from now I mean there's there's a couple of things that they did.

The big so called sequester cuts we're gonna go into effect today and they put it off for two months because -- a lottery.

Senators not just Republicans -- senator from concerned about these cuts because are split halfway between.

Discretionary spending and military spending defence department and that's a hugely disproportionate hit on the Defense Department -- -- upset about that they're pushing those things -- off.

And then.

There's the debt ceiling.

There -- party I guess technically hit the debt ceiling Treasury Department is moving money from one pocket to the other gets -- -- May be February.

Republicans believe I don't know the right -- they believe that they can win.

Some spending concessions in that debt ceiling fight that's why they gave it right this is huge argument about whether the Republicans some say and I think we'll hear some of the Slater of the hour -- we've been here for you that there was a huge loss.

For Republicans in this latest negotiation that they gave it way too much -- this to.

Big political win for the president but I -- the Republican argument particularly the senate Republicans is hate.

This we get the taxes are off the table now president can't hold that over our heads so.

We have the leverage on spending.

-- then I asked them about this a lot during this whole fight.

And they said basically were holding a losing hand on taxes.

If you look at all the polls American people supported raising taxes on the highest bracket.

We're on the wrong side of that these Republicans said but we're on the right side of spending.

And -- spending cuts so we're gonna use our leverage to fight after we get past -- debt -- -- I don't know what's gonna happen on that obviously.

Democrats and perhaps some of their supporters in the press are going to be.

Accusing Republicans of being willing to take the country to the edge of default yet and to try to -- their -- to be higher stakes is what people will say exactly the debt ceiling because you literally can't pay the bills and you think start shutting down at the bigger deal than.

The -- Republicans have to be prepared to be cast as the villain again.

In the debt ceiling for -- -- the -- current.

Because at this point you get the -- just.

You wanna dig into the numbers too much at the same time they're important she gives 600 billion in revenue or thereabouts right the president came out -- -- I want one point six trillions here obviously way off.

He didn't get that.

And -- even if you sit symbols everybody says that's the big model let's -- your -- that's well over two trillion in revenue -- you think the Democrats are saying no we're not done asking for more revenue not at all they have they didn't didn't get what they want now they want more taxes they want remember that right after the election.

Republicans and said well we can raise a lot of revenues simply back closing loopholes and -- and -- in the taxable they didn't go that route that they want to route that the president -- which is to raise.

Rates when they're gonna go back to the closing loopholes in the -- -- there -- -- you're not a market dire political guy ever -- of the markets and got a 200 some points -- -- now.

We'll just investors today that they should be real careful or you don't know what I got to interpret the polyps -- there's this short term relief that this disaster that was predicted for January 1 didn't happen.

But there's no reason that something bad couldn't happen and a couple of months and is not gonna have a happy conclusion well thank you very much for that but you you probably Labor Department report.

Thank you for joining us thank you stuff -- now let's talk.

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