Also in this playlist...
This transcript is automatically generated
Level our next case the national debt.
It -- risen to just over fourteen trillion dollars right now currently the -- is capped at fourteen point three trillion.
Law America's war on but it back ceiling is not -- the government would end up defaulting on its bond payments -- bring in our owed debt up to Granada.
Steve Bell with a bipartisan policy center a lot from these sake I hope you like that new -- -- I just gave you that's the -- I do it what we talked about a year ago was coming through Q if you really wanna be a debt aficionado on calling you know exactly that now look here's my take Steve.
I don't think there is.
Anyway there is no way that this congress will fail will not raise the debt -- you agree.
I absolutely agree look at the only question is.
But really Stewart what amendments.
Or what kind of package we'll have to be attached.
To the bill that -- to raise -- debt ceiling in order to get both the house and the senate to approve it.
Republicans are not going to get any.
Break like they've gotten before but that they'll get something what is Steve on the Republicans have -- rule -- -- -- -- -- -- they have tremendous they have tremendous leverage put into it comes down to the president.
He is Ortiz said he's gonna make a speech before the state of the union on the budget.
That he's got the state of the union and then on the seventeenth he's supposed to February he supposed to proposed his budget.
I've been -- march 4 the continuing resolution expires that's.
That's where a lot of people think we'll have about fifty billion dollar cut spending.
All right state now you brought up the president and his position.
So I'm gonna put on the screen want the president -- what President Obama said back when he was a Seneca.
About the debt ceiling and had a quote directly quote.
Washington is shifting the burden of bad choices today onto the backs of our children and -- and grandchildren.
America has a debt problem -- -- failure of leadership.
Americans -- backed up.
Hi -- fully intend to oppose the effort to increase America's debt limit.
Quote directly from then senator Barack Obama march 16 2006 when you make a back seat belt.
Well I was actually there working in senior senate staff and I think that where you see it depends if it really makes the difference -- what you say.
The president said what he thought as a senator was useful to him politically.
Now he's in charge he's not a junior senator anymore from Illinois.
He's now the guy that's going to have to bear the burden.
Of getting enough Republicans and Democrats to pass this debt ceiling increase -- a little bit different position -- he has to watch his words a little a little more carefully.
Well interesting thing is mr.
-- is that he actually voted present.
-- two years.
On that debt ceiling being raised you know I've been actually vote.
When he was a senator now is you say he's present -- United States so what only do.
Well I hope he doesn't vote present this time and and by that I mean look at the bipartisan policy center we were released a very major.
Reduction of the death kind of package.
Hundred pages plus bipartisan.
The president's own commission made a few recommendations they weren't as much as some people hopeful but they made some good recommendations.
Now the president has to decide.
What of these recommendations from these 2 or 3 plans am I going to incorporate if any.
In my budget submission and in my State of the Union Address and without being partisan the fact is the burden now is on the president.
Will he need in this area.
Where he might have a chance their forty gets stuff done or will he say.
Look they're going to vote for.
Detonating a debt increased anyway I'm not gonna risk any of my constituent.
Kind of favors.
I'm not that you pensions I'm not gonna do so so security I'm not gonna -- Medicare let the congress take that -- if he does that.
Congress won't take that burden.
All right Steve Bell I told you the debt aficionados.
You on just that come back and is what this vote -- -- I think he should be.
Around that that at the beginning the first week of April I think that's when we hit the debt saving -- That's about that's -- that's approximately write a -- got it Steve Bell thanks so much and.
Filter by section