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Former House Speaker Dennis Hastert, (R-Ill.), and former UBS Chairman Joe Grano on the fiscal cliff deal and debt ceiling.
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The point of former.
House speaker house -- Wall Street -- Joseph grandma says there are a lot of relatively easy it affected dare I say even painless ways.
To raise serious but speaker.
Why don't folks -- even know about the costs.
But you know back in nineteen 2006.
We put together package in the house.
That cut 450 billion dollars mostly and a duplicative spending and mostly in.
In mandatory spending and you could do it every it's doable by -- out of the senator was only forty billion dollars but we did at the house -- -- twice.
You know maybe he recorded of their respective positions but I think Wall Street just looking at just the CBO's ideas none of these draconian not a single program has wiped out job.
Trillions there on paper.
On they would run of the -- Since this report.
-- that I think it's common sense what you just articulated.
Look and American business.
When they spend more money than they bring in terms -- revenues is called the burn rate.
Our burn rate the US government being largest business in the world is -- is -- deficit annual deficit.
So that's restart what do we do about this burn rate how do we slow down how we stop -- I don't get fiscally responsible.
And there's a lot of common sense things you start with discretionary spending for instance you have a lot of flexibility there.
Some of the subsidies are putting years decades ago that that they're talking about.
They have no place in longer but I think our our elected officials they have lost a perspective enough focused on solutions -- focused as an -- -- told -- -- But -- Wall Street benefited both sides got off their talking points and and you don't more open to what seemed pretty simple fixes rather than equate.
Slowing the growth of Medicare would with would you know given grandma out hope that that that logical Smart reasonable minds are saying.
That's it.
I agree with you that this -- I really think that a lot of the rhetoric that gets the American people excited.
Is misinformation.
And positioning by one ideology vs another.
If you -- amount to the American public and told them the truth the facts whether -- -- Social Security you name it.
They will do the right thing where we just have to get out there and given the appropriate information and the appropriate solution.
You know speaker you were great at this figure you know what is involved -- negotiating neither side can look.
-- did it one Anita site can look like it lost it so both kids sort of covered the other.
And I think each side wants to rub the others nose in -- right now Republicans were on the losing side of that and that would argue the president.
Win a forty don't want to deal tax hikes over any cuts -- to better than it and and and left a lot of -- war wounds -- agreement.
Well well look at first thought -- -- We'll talk about a fiscal cliff that's orchestrated.
Confrontation.
You know if you're gonna get something you don't want -- -- you need to debate that.
Need to cut the deals you need to have the agreements about we get to -- to the cliff.
And the idea off I would go to -- anything that was -- problem go to.
John -- came two years ago -- it -- speakers cities and I change the way Washington bid that has.
Was doing business and I think maybe he got pushed the wrong way -- not sure.
When you do a deal those speaker.
I always seek did the other side -- to look like it's winning something.
As well and there was no quid pro quo and that's the I don't -- are -- are not things -- Jeremy you you know that meant that it was.
Forty -- want a tax hikes are over any kind of cuts.
And and that.
Even if -- the other side getting that DO.
Use you know that's not a good harbinger -- to gonna you know it's gonna make a future -- -- the other side's gonna feel.
Angry.
And taken advantage as an.
Well actually what happened that the deal quote -- revealed that agreement was supposed to be.
Task tax cuts or tax increases and spending cuts we got the increases in -- ideology.
So that we want everybody -- -- that way today except that in and when he learned about it and I -- I would I would along time ago and and coaching.
That data guy down a barber shop on Monday morning that I guess which -- -- I wasn't there.
I wasn't the -- -- table but what -- let it go to the last minute you have no leverage and that's what happened right.
