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Little Progress in Debt Ceiling Talks?

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  • Description

    FBN’s Rich Edson on the debt ceiling negotiations.

  • Duration 1:52
  • Date

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This transcript is automatically generated

We get -- is in Washington with more any progress threats.

Now without another sell -- -- I think I think it has got to.

It look we've got about a month left before the government reaches the debt ceiling and the two sides are as far apart as they've ever been Democrats say.

Congress routinely increases the debt ceiling it allows the federal government they say to pay for spending its already approved.

They say deficit reductions a different argument and are now proposing.

Eliminating the debt ceiling.

We must not permit an artificial debt ceiling.

To throw the country into default.

And our economy into chaos and depression which is exactly what the Republicans -- threatening to do.

It's time to abolish the debt ceiling.

And on levels of taxation and spending will be set as they always happen.

By congressional action.

Republicans argue Washington is linked several increases in the debt ceiling to deficit reduction deals they say it serves a reminder.

And how much the government is borrow Senate Minority Leader Mitch McConnell writes.

Over the past three decades in fact US presidents -- lawmakers from both parties have routinely use the debt limit debate.

To reform government spending Washington Democrats under pressure from their -- interest groups.

Continue to adhere to an outdated ideology that says every penny of revenue that Washington is ever got its hands on.

Is sacrosanct.

Meanwhile house Republicans are on -- to Williamsburg Virginia for their retreat where they'll consider their options in the upcoming debt ceiling fight.

Including short term increase with a modest spending cuts to a four year increase including an overhaul of the tax code and entitlement programs.

-- -- -- -- -- -- -- Glad that this Decker -- and talk to us we are 29 days away from the debt ceiling.

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