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We are starting up tonight with some breaking news Fox Business is rich -- just wrapped up a broad based special one on one interview -- house speaker John Boehner.
Let's go to rich in Washington DC and rich what stood out to you.
How well you know we talk taxes we discussed entitlements and of course that debt ceiling fight the biggest one of the year the house plans on passing a bill -- would allow the Treasury Department.
Debt payments something that the White House just minutes before the interview said the president would veto saying that it's up to the congress to pass a clean increase in the debt ceiling.
So we asked the speaker.
About that White House veto threat.
The president say this but you know he's float.
The person who putting was United States senator voted against increasing the -- moment.
So this was always become a political football.
The federal government has spent more than one and has brought in for 55 of the last sixty years.
This year ball have ball highest amount of revenue to our government we've ever had in our history and yet still have a trillion dollar budget deficit.
We have a long term spending problem that have to be resolved.
And it will be resolved and so I don't know what's gonna take Republicans who have put our budget up to the pastor of a back in the march.
-- Democrats passed a budget and set up.
Our budget balances over the next ten years.
The democrats' budget and the president's budget never come to balance and if they don't ever come to balance woman -- continue to keep spending money you don't have.
The seminar leader -- a couple of months ago that's we're going to agree to raise the debt ceiling we're not going to.
Without doing something about entitlements that's what brings the president to the table.
Do entitlements have to be a part of the debt -- agreement.
-- don't -- how you solve the long term spending problem but what about dealing with what's driving the spending 101000 baby boomers like me retiring Saturday.
70000 this week three and a half million this year so it has to be part that's got -- -- -- -- -- I don't know how she can balance the budget.
And if you don't deal.
With the entitlement problem.
And these programs are important to millions of Americans tens of millions of Americans.
And they are not gonna exist -- we don't -- what about tax reform the chairman of the Ways and Means Committee Dave Camp said.
He thinks it's an opportunity -- he's going to pursue using the debt ceiling to get tax reform.
Don is that something that that you must you always a possibility.
When you look at our problem -- got two problems -- -- a spending problem.
And secondly we've got this slow economic growth.
It's just it's pathetic.
You know the president's going to what journalism -- -- talking about the economy is growing.
There -- only.
And -- if we're serious.
About salt in our spending probably need to look at revenues.
And the revenue side means getting our economy -- -- him.
Helping people get better wages and better opportunities for better jobs if the Ways and Means Committee does pass a tax reform proposal will -- to those announced.
We've got to there -- a lot of options on the table in terms of how we do with tax reform and how we do for the government we're just beginning conversation -- -- members.
About about what it is we wanted to do.
As we have to deal with the deficit our role here is not -- default -- our role here is to get ourselves on the sustainable fiscal path.
So tax reform is -- a real possibility of being part of of the -- -- uncertainly in the next.
Chairman camp has been working on tax reform for a few years.
Chairman Paul Ryan got a waiver to serve two extra years as Budget Committee chairman would you consider giving chairman camp an extra two years of Ways and Means Committee if it's tax reforms to -- Please decisions that the steering committee estimated.
After after -- reelection so every two years we go through this a discussion about who's chairman probably we have term limits for committee chairman.
And so although I think -- -- who will wait until after the next election have that conversation he would you consider you personally would you consider Dave Camp but I came here together in 1990.
He's -- most capable members shall we haven't done a great job as a -- the Ways and Means Committee.
But you know there -- a lot of considerations of doing it.
Less than others this is the other house and I don't typically are people don't typically ask you that the US senate but the finance committee chairman Max Baucus is leaving.
Do you think that that.
On in -- -- does it make it easier for tax reform on that side.
I don't really I don't know hub because.
You know -- he's -- how much does he want to put into it.
Well our -- the other members -- review this ever.
But I do know that to the president understands our tax system is broken members of congress -- both sides of the aisle understand our system broken.
We need to simplify our -- of renewal rates down get rid of the loopholes.
And -- our international problem we can make America more competitive.
If we had a -- of the people understood.
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