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Rep. James Clyburn, (D-S.C.), discusses why he wants to give the president the power to raise the debt ceiling.
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21 who want the president to use the fourteen that is somebody congressional Democrats who want to -- Obama to bypass congress.
And I did that ceiling on his own using the fourteenth amendment has as -- -- out.
You might be familiar with that one that is the event -- that largely talks about equality of races but includes very important -- about the importance of our debt.
Congress -- James Khyber one of those Tony one Democrats congressman.
Welcome to you.
Com or burdensome whatsoever why he why do you -- give this president this Power One that you never wanted to grant President Bush.
I don't know why -- -- -- Robert grant him that I've always voted to raise the debt civic.
-- need to granted to president bush because congress.
-- those of us in the congress granted him.
His wish -- never tried to deny him.
The ability to pay our bills I wanna do it now because this congress at least this House of Representatives.
Would like to see us default.
-- an -- -- obligations.
And that's why I think the president.
Ought to do it himself.
If congress refused to do so.
Net well -- we have had a I don't know what you you're in this camp -- made her colleagues -- president buzz is around.
But brought this debt -- to the break a number times arguing against what he was doing.
You -- never to bring us to ultimately it's it's a default.
But isn't the issue here what brings us to this point time and again fifty some odd time since World War II.
It's the underlying spending is -- not it's in that you guys are going through hoops to avoid the underlying problem and that -- spending.
What -- suspended maybe the problem but what we spend the money are we spent this Monday.
To fund.
Two walls.
That we never paid for when -- that country ever.
Gone to wall and not make some sacrifices.
Tax rise -- and then to pay for.
Or so what about the -- -- -- we've spent.
Cents on out of things that I lead and has deeper that you I think you're quite right -- two wars unfunded you're alright very good about my -- -- -- -- Then then let's not go back it time -- -- the -- that present or -- right now the abuses of this spread let's address the spending as it is now.
-- we are just in the united and honestly ascetic -- -- deal that was forty to one tax hikes over God's.
Look we just passed the president to elect two years ago one way to look at but I know -- I -- -- -- it -- whereas the drop.
While -- -- sort of always there you know I don't know we're looking at a fifty -- trillion dollar plus deficits.
Well you know.
You break it down the deficit is because of one reason I think is because of another reason.
I believe they are five B items that cause the problems we have.
Two walls.
Too big tax cuts and a big description drug plant.
That's all.
Most of its oil and -- I think at the -- announced on but it's.
Yeah OK is there at the time and means everything doesn't -- -- does so I'm not -- argue that went -- what went.
I am let me ask you now it's many is the problem whether it's from George Bush or Zachary Taylor can we do something now about the spending reality.
And rather than come up with -- like a trillion dollar coin -- the fourteenth amendment just tackle the -- get it under control and we won't have to do this.
Silly stuff right -- -- you're sort of where outbreaks -- didn't.
That is being brought under control -- congressmen yes I don't.
When I don't where well what garden now collected in about 15%.
Our revenue.
To GDP.
-- doing the Clinton years or -- -- -- those broke.
It was 19% the problem we've got is that our revenue collection is way.
You are waiting it out actually -- when not if you're saying -- actually -- we're not taxing and -- But no because the Potomac to spend day you have to compare spending -- revenue is that you -- to have to -- all levels of Clinton.
Yes I would love for everything to -- -- to those -- levels of Clinton.
Booked out of growth we head toward the two million new jobs.
An economy growing that it government -- ever -- that was.
Ten trillion dollars in debt ago that was ten trillion in debt ago.
-- when Bill Clinton left office we have 288.
Billion dollar surplus.
After the -- of 22 million jobs yes that's -- I wanna get back to job creation surpluses in the budget.
And we do not bring any standing right now congressman tickets out you're also forgetting conveniently -- thank.
That that President Bill Clinton -- very good fiscally woods leaving office with a recession well placed an Internet that was imploding in on NASDAQ.
That was cut in half and then shortly thereafter something called 9/11.
Now I'm not dumping anything on either end more than -- succeeded him when a -- -- seen it and but let's just look at the reality what we got now we've got.
Massive debt a lot more money going up in coming in and you haven't really volunteer -- -- you would cut as far as that money gone out.
Where we took seven on sixteen billion dollars of -- Medicare.
That everybody.
Including mr.
-- that went out and ran against us and say that he got elected you put the severance sixteen billion dollars back in the Medicare.
That's a 716.
Billion dollar cut.
That we may it when we passed -- Noted in excess -- into the president's health care from -- -- plan well it may have where there was plucked out of Medicare.
And taking my -- might get -- yet another is actually creative but it doesn't -- anything.
In new creating jobs their failure created -- we have big job growth in the Medicare business.
And in the healthcare business and we're have the kind of they're getting people out of emergency rooms and it cost less for people to.
-- and treat what ails them than -- ever across before.
That's what I call Smart spending Smart investment.
It's -- cuts.
All right months in new here congress and hope springs eternal that we have a deity or yen -- -- many orders on -- are many more times.
On congressman -- senior thank you.
Back to revenue.
