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Debt-Ceiling Looms Despite Fiscal Cliff Deal

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    Reason Magazine’s Matt Welch on the upcoming debt negotiations.

  • Duration 7:14
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Again soon.

Joining us now is Matt Welch he's the editor in chief of reason magazine -- is that a -- -- correct correct sir there's another cliff coming and you know it's two months from now roughly.

But -- or that you know Kobe before that can be a six weeks in fact I'm not not two months the debt seat.

We've got to either raise it all do or get agreement to use it to raise that -- Somebody on this program earliest said and a don't -- statement stopped dead right now quit this borrowing live with a nominee right now what do you -- I would love to see that.

Happen if you money would that what.

And I didn't know won't happen he went -- happen.

I was a backup in interest -- -- it's an interesting theory texting idea it imagines a world where there's more than eight senators like Marco Rubio and Rand Paul but we don't live in that world so it's not going to happen if we're gonna have a Singapore and have a permanent cliff right that's what we have this fiscal fitness over so now we have what the milk cliff in nine months.

We have the sequestration clip of you -- of February you right and we have thirtieth who was at fifty the number of tax Extenders on this all -- -- one year deals that we pertaining to one coming up you little clip you gonna renewal on the that is that is now how -- -- This is fake phony emergency maneuver that's right because that hasn't had a accident three years active and -- president that he is -- and and so we go we go from artificial crisis artificial prices kick in -- Of any kind of act uncle -- -- doing their job so if they're going to do that then every one of these things is an opportunity to have these circus freak sideshows.

Arbitrary like that -- negotiations.

And so yeah if -- that this is not gonna do it then every time we have a let's do it all over again it's ridiculous that's horrifying -- -- in off.

Don't raise that debt suggest what you would like to see happen I would like to secede and use the debt ceiling as any kind of negotiation.

To stop the train and government spending but it's not going to happen -- have I would love to see universe that's much different than when that we live in if you did it if you just stopped dead no -- borrowing live within -- -- -- -- Date on would.

-- have a crash but not at all Maliki crime that's that's a nice theory I don't think it's true across the that's in the 95964.

Months and no -- care today what -- -- -- -- -- -- around you can move the money around in the mid 1990s we didn't have a massive borrowing requirement we have actually a so so is different wouldn't have a surplus and I don't I ninety -- crisis we've had a -- crisis since 1962 with -- -- -- accounting -- but it's I gotta get this right now.

I'd say.

If we did what you want to see happen that is stop dead noble borrowing -- -- -- crash Charles pain.

-- am -- right let's say we -- but I say maybe that's what we need to do.

But no Republican nobody who did that no politician who did would ever get elected -- ever again I don't think would crash epic -- You know big to do the right thing in this country whoever steps up to the place ultimately does your right.

They have to accept the fact that they're gonna be -- -- and -- ability until May be.

45610.

Years down the road -- sake -- that was the right won't politician is gonna commit political suicide ball and -- Some what it let's ask yourself this.

Matt talk about the legacy of President Obama I mean FDR's new deal and it would be changed so closely you know need to do civil rights but he also -- the big spender.

What does president Obama's legacy now now.

That's it's gonna be obamacare and it's going to be the man whose first budget was seriously called the new era of fiscal responsibility that that actually ushered -- other permanent era fiscal irresponsibility.

It's our call this whole thing at the Obama.

Dick Cheney budget right Dick Cheney contributed so much all of this by saying that deficits don't matter.

Back when Republicans controlled Washington and then they acted on that in polls by Medicare part.

Negotiating with a free dinner party and the ultimate things what we have now which is a permanent imbalance between how much money were willing to tax Americans.

And how much money that we've taken for granted is the bare minimum of spending which is twice as much what we spent ten years.

-- -- -- -- -- -- Congressman David drive -- -- Republican is from California he said this in his farewell speech I'm quoting now climate change is a fact of life.

-- is the outgoing chairman of the house rules committee he's a Republican is from California he says climate change is a fact -- life.

I presume he would think we got to do something about it your libertarian what do you side.

What you're gonna do something about climate change one -- -- to make sure that you still you continue getting more rich richer countries are cleaner countries if you do if you have.

If you have policies that prevents you from being able to get rich then you're not going to be able clean up your environment is that's and that's number one if you're going to do any terrible thing.

From a government point of view the one terrible thing that you can imagine is a carbon tax as it gets -- directly and auditing California.

Yet that difficult when it started which makes no sense on the state level and so California's -- -- continuous Michaels would David Dreier is a Republican.

Has climate change and doing something about it now infiltrated the Republican Party sure looks like it doesn't.

Well it depends -- it do you think climate change is happening do you think man is contributing to the warming of the planet if you do and I do.

Then what are you going to do you do sure I think I think that I mean -- I outsource my up feelings on this to our own science correspondent -- reason who flipped on -- his thinking on this because the science came in.

And he.

Believes based on -- that man is contributing to the warming of the planet he doesn't think that you should that's necessarily then.

Due to Kyoto Protocol on all these kind of global ideas -- any -- -- -- what does -- can we should do if you do anything to a carbon tax.

A -- -- that's what he thinks if you annual -- -- here.

India China and -- and because there.

They well don't get Canada rejected the -- Kyoto treaty as well and you know because -- -- prosperous nation doing extraordinarily well.

-- -- -- -- -- I I don't I don't buy into you know into the notion yet you know maybe I'll keep hearing -- -- over and over again like a bad song and in the liking it.

But I will say this I think this carbon tax strategies are just disasters everything -- -- with respect to carbon tax seems like the goals and make this a certain.

Elevator on the cap and trade elements is a total disaster doesn't work in Europe it's just it's it's a non starter everywhere but one thing -- helps of course fracking we re -- so much less carbon because of the fracking revolution that's happening right now.

And so were actually getting towards some of those targets that everyone seems to want and doing it.

Through wealth generating act -- Nadia into the -- America in terms of Nat gas right yeah.

So we've found not have you on the show for a long time yet come up here and you giving us six thing about the debt -- cliff.

That would gonna face and the carbon tax and global warming is it any other subject in the last -- it -- Gotta bring up -- anything at all well I think I've changed my favorite Beatles songs now on the way wake of the fiscal cliff as we've talked about it here on the show and and not think.

In lieu of worry in and because of the fiscal that that's one for -- life is going to be mine off.

And what about -- attachments of any particular war contact you see what a minute now fat tax you features that -- -- declare the pennies on era at the hey Matt -- good stuff thanks -- appreciate it.

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