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-- and they had to cut the debt now since the bar in caustic carriers are about -- and -- -- substantially.
The vice president Joseph Biden meeting today were Democrats or Republicans to hammer out a deal on the budget.
To avoid a government shutdown offered an extra six and a half billion dollars in spending cuts to meet the GOP have when it.
And a senator Roy Blunt who says that is simply not adopt the -- are Republicans he's all right -- sense.
Of urgency right now it is a good point isn't -- -- that all of a sudden your basal this -- It's been relatively.
OK not great carrying -- -- these.
Ridiculously low interest rates but that could change and heightened the urgency to do something right.
Well -- -- and if obviously -- the interest rate doubles the debt service amount doubles and suddenly.
You're an even more trouble in the RRR ready also Neil I think just the government borrowing this much money.
Government taking this biggest spending position in the economy drives prices up and drives competition for dollars up.
And at some point when the government -- as much money it's only got three choices one is to announce its not gonna pay it back.
Another is to it and and our government's never done that and I think never will and others try to attack sit back.
Which would cripple the economy and the other is to try to -- -- back with cheaper dollars and that's what happened in the seventies as we paid for.
Vietnam and the great society and that's what could easily happen again we have to get this spending and borrowing under control we have to do it quickly -- -- -- -- that I got to -- this statement from the White House -- Joseph Biden after the meeting with leaders.
Normally he's pretty -- crisis but this was -- to the point we had a good meeting and the conversation continued.
I don't know what it was the paper to write that but I guess it's it's the good that we're moving -- but but.
You guys are far apart I mean really far apart -- two weeks from now the government's going to be in the same -- it was in a prior.
Now others have expressed interest to keeping -- -- two weeks at a time -- every time you get an assurance of another 24 billion in cuts arguing that can't.
Well I think we need to solve this problem we ought to be talking about the 2012.
Budget the one that starts October 1 right now and if you spend all your effort and energy.
Extending two weeks at a time we need to get this done and were really for a part is the size of cuts.
That we're talking about and spending and the size of the deficit the deficit this year is going to be one point six trillion dollar.
I don't know China isn't so good about what we consider the first hundred billion -- hit the president is indicating maybe meet -- halfway there the numbers change quickly.
But it's something like 48 million dollars.
That it yet average it -- that's what we're talking about is that a step in the direction in other words it that kind of talk we're continuing.
It's up to set a precedent that the same issue he would be its encouraged by that didn't say when you would vote -- today on another two week extension indicate that.
But he would find that encouraging would you.
Well I don't find it nearly good enough I suppose is better than no movement at all but my point is.
If we can't find the first hundred billion dollars but essentially just get 15% of the budget.
Back to the 20108.
Spending levels we're never gonna solve this problem we still have that we find a hundred billion annualized.
We still have a whole lot of money yet to find out he's talking forty -- fifty of sixty that's one thing.
If he's talking 48 or fifty of -- hundred annualized number that's a very different thing.
All right we're just don't know but do you think two weeks from now we're going to be looking on and -- shutdown.
I think if we can't solve this problem in two weeks and we keep this two week to week.
Effort going on what really not doing his handling the big question which is -- what are we gonna do in the long term when when you're running the government two weeks at a time.
I think that shows that somebody is not doing their job and in this case I think it's the president of the United States is not coming up.
With a reasonable budget ignored his own deficit commission.
No I -- -- but at a centuries you had a choice between limping along two weeks at a time I understand your consternation.
At end of shutting -- up and down where would you go.
Well I don't think anybody wants to shut the government down as long as they're cutting.
Four billion dollars every two weeks I suppose that's that's a discussion we could continue to have and it's bad business and bad government.
Cuts senator -- again thank you very much thank you good.
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