Also in this playlist...
This transcript is automatically generated
Joining us now is John -- these.
Editor at Forbes that's always the critical question appeared journalists is not who what when where why but why now what say you.
-- I think he's trying to basically beat the Republicans to the punched him to roll out a lot of platitudes about how both sides would need to come together that he's going to lead this.
And coming together to keep the federal government open so that six Social Security checks are mailed.
Basically it's a load of nonsense.
You do not need to increase the debt ceiling.
To keep the federal government running basically what would happen if they did not increase it is a Washington it's never in history.
Prioritize spending would be forced to do just that I'm Social Security checks would go out to the military would be funded.
But maybe we would abolish some programs finally so I'm I think -- just content to get ahead of the at the Republicans.
Now if he was going if there was going to be a pronouncement platitudes that John he would hold a press conference he'd just come out make some statement.
But he asked to face the media and he will have to face tough questions about this.
But that's not really in the cards is -- is -- -- tactic that the Republicans will use saying we don't need to raise the debt ceiling.
It ended the day spending is not gonna get caught not in the way they would have to.
I'm I think I think you're right we're never going to see this spending get cut because I don't think either party.
Wants to cut spending -- that they've regularly talk about an Obama talked about.
Cutting spending line by line Republicans talk about small government but every year we look back we say -- -- it's grown even more.
So -- I think there's going to be a lot of back and forth that strikes me that that's Obama's plan that he wants to get ahead of it.
I'm but the reality is neither parties can do anything and that to me is the big scandal here.
-- we are constitutionally.
Limited government yet it collects 2.5 trillion dollars a year it strikes me that that's the scandal that not enough people are talking about.
A limited government would need that much money.
How you think that the debt ceiling -- does play out however.
Because again with if you have people who have nothing to lose.
Then they become very dangerous if they're willing to put their necks on the line for this kind of -- because there's this one.
And then the sequester our and then the budget and then we were.
I'm I think we're gonna see it play out the way we did the last time a lot of drama Washington loves drama gives -- the attention goes the politicians and that's what they like.
And so we will see it we're gonna get close the debt ceiling you know while we're gonna default and lots of falsehoods like that but eventually they'll agree to some sort of increase in the debt ceiling matched by spending cuts in the future of those spending cuts of course will never occur.
They never do and a year from now we'll be having the same discussion about OK we need to increase the debt ceiling again.
-- don't talk about spending cuts again but we know that future congresses are never constrained by deals made in the past.
I don't see why this time will be different -- it's just gonna make that the electorate even more skeptical about Washington I think is the end result.
Here they're past skepticism they're back to downright angry and many corners in this country John good to say never -- patents on him again.
Filter by section