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WSJ Washington Bureau chief Jerry Seib on closing the gap between Democrats and Republicans to find the solution to the nation's debt problems.
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Negotiations for years now.
We'll also Washington stalemate drags on -- sequestration.
Approaches print that term -- now -- if you've been listening to the president the budget cuts it's -- for a pretty dire.
So -- present a -- in Norfolk Virginia today instead of in DC trying to hammer out a deal.
Because Republicans and Democrats remain as far apart as ever on off things having to do with taxes and spending is -- -- solution -- side bureau chief for the Wall Street Journal's.
-- -- it more pleased to welcome into our show Jerry hi there.
Thank you did your latest journal piece points suggest sides may be closer to a deal -- they may realize explain that.
Well look I think there it looks like is a very sterile debate going on this sounds very familiar.
In reality I don't think it's that hard to come up with something here you know the president is looking for something on revenues Republicans say no revenues this sequester or -- replacement for it has to -- all spending cuts.
But if you look behind those words a little bit you know the president is still talking about the possibility for a big deal that would include some entitlement cuts.
And Republican leaders in in congress have actually propose some loophole closings that would raise the kind of revenue the Democrats are looking for so it should be possible to put these two things together.
The problem is there's not much conversation under way to throughout much of the bridge.
I'm guessing as wide as ever between the two sides -- as partisan as ever and also think he's sure you.
You -- -- an idea and you really point to these younger moderate Democrats in the senate.
Is having the most potential for creating a so called bridge between the two sides tell me more about that.
Well I'm at some point -- human bridge between the two sides and that's sort of what's been lacking in Washington for the last couple of years I mean the President Obama and John Boehner tried one on one to become that bridge that hasn't worked so well but.
You have in the senate.
About thirteen Democrats that I cannot do either come from red states states that were carried -- Mitt Romney.
Or states that are -- are -- either way and who have had to in their own careers show how they can reach out to people in the center.
Those are never be a core of people who can maybe build the kind of bridge between the two parties and get.
That the gap between the leaders and the followers on both sides of the aisle maybe narrow little bit I think those people are there there has to be some way some mechanism for them to step forward and find solutions.
In the meantime what do you think of the president's tactics marching out to one public event after another.
Really pinning a worst case scenario if the sequestration doesn't fact go into a -- Republicans really frustrated because if obviously if you let the agency heads right make decisions on where to cut they -- is painful and they wouldn't put us in harm's way.
As a Chinese population in the country -- a lot of politicking going on.
Well look at this has been a day of rolling press conference as you -- the president doing that down and in Norfolk as you suggest you got -- Republicans out doing the same thing it seems not much talking going on -- an interesting thing is gonna happen in a few hours the president will be back in Washington.
Lindsey Graham and John McCain both those two guys significant Republican figures in the -- are gonna come over the White House to talk to him allegedly about immigration reform.
Which is important but I think they're also gonna have a conversation about.
Sequester in budget and we'll see what happens Lindsey Graham said yesterday look if it saves the defense industry in the defense establishment.
I view and talk about putting some revenues on the table to -- the Democrats that's an interesting statement we'll see if he's speaking for anybody except Lindsey Graham when he says that.
We will keep our eye on that for certain.
Step back though this sequestration itself announced -- what barely two and a half percent of AD increasing spending -- I -- worst case -- where he again hearing.
This doomsday scenario the country will be more susceptible to terrorist attacks teachers will be laid off flights won't be as safe and will be delayed we all these horrible things but.
Really it's such a miniscule.
Amounts of spending.
Of the spending -- correct really well really be that impact full.
It over time it would be that is certainly immediately it's not going to be having these that the federal government does everything slowly and and including rolling out spending cuts that would happen over time I think a lot of -- horror stories are are not true if you think you know what's gonna happen on March 2 march 3 march 4.
If this goes on for several months -- some bad things would happen and one of the problems here is sequestration.
It is designed to hit very hard to various tiny part of the government the overall government is big but the part -- he'd be about -- sequester is relatively small the defense establishment.
And domestic discretionary programs all the big cut the that the places where -- have a deficit really comes from the entitlement programs are left alone so this is not a very good deficit.
Cutting tools it is designed to have impacts that are disproportionate to the actual federal budget.
Appreciate the analysis.
And you're reading is always -- side look towards your next piece in the Wall Street Journal thanks for joining me this afternoon -- you with you okay.
