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Peter Barnes reported at the top of the show the vice president is meeting with top economic advisors with regards to the nation's debt ceiling.
Joining me now with her take Republican senator -- Rates and a Texas senator it's always great to -- Thank you Sara great to be here well many Republicans some Democrats say that they will vote to raise the debt ceiling but -- -- that come with spending cuts.
What is your position.
But I do think we need to show spending restraint and we need to have reforms in place before we raise the debt ceiling about fourteen trillion dollars.
We've got to show.
The world really are better in our creditors.
That we're serious and we are going to get our fiscal house in order that's the best message that we could send.
Where do we start to cut -- senator I mean because everyone's going to be.
Targeting different programs as you know there they might feel looking at some military programmes even with the advent of the death of Osama bin Laden.
So where do we what does this sacred cow in your opinion and -- -- we look to first -- I think of course we should go back to an overall level of 2008.
I think you.
You look across the board and then you determine what your priorities are.
We're not going to take anything from the military.
When they are in war and -- war and we're going to fund them fully we're gonna fund our veterans we're gonna fund research which is are seeing -- Take making sure that we keep our economy strong but there are out there's a lot of fat our government has grown in bureaucracy.
There is foreign military construction that we don't need to make right now.
These are priorities that we could.
Really pushed down the road when our fiscal house disorder and -- in order and we have set a top line spending level.
That allows us to bring down this debt and deficits.
All right let me move today at the next issue of Osama bin Laden what did you first know.
About the operation of the -- -- on -- line did you know before.
His killing was announced.
I didn't I I knew.
And I was just so pleased as everything has started coming out.
With the precision and -- just met with admiral -- -- Who is really credited with.
Leading this effort in such a precise way that every eventuality.
Was brought together for a perfect mission.
All right wanna move on energy policy my colleague Greg Jarrett you know very well from Fox News -- a question -- -- -- Well on energy policy will help.
Where area where are we in the near term with so many Americans pulling up the pumps and they just can't afford to pay for it.
Who's to blame what can we do what can congress do and the president.
We need to open up our natural resources -- the only country in the world that has the resources to.
To make a bigger supply and bring down the cost the energy and gasoline at the pump.
And we're not doing it we are sitting almost -- in the Gulf of Mexico which is our second largest resource.
Next -- and more in Alaska.
And we ought to be opening up and more we ought to be opening up the Gulf of Mexico and we ought to be.
We do it in an environmentally unsound way which we can do with the new technology that we have.
And we need to be supplying our country with the energy needs at a reasonable price that we have the capability -- -- -- you're saying that you know we just had did a Fox News poll in 61% of those polled -- that they do support.
More drilling that we need to drill more here at home -- is saying Americans telling us they're cutting back because of high gasoline prices besides.
Opening up more drilling in the Gulf of Mexico as you mentioned -- or anything else that we can do it provides energy policy in particular.
In the Middle East.
Well I think we should look to ourselves I don't think we should be so dependent on foreign sources of oil.
And one of the reasons that there is so much drilling overseas is because it it's been made so hard.
With the regulatory environment that we have in this country.
To make the investments that they all companies in the independent operators need to make it's very expensive to explore and drill.
And to take that chance you have to have the the leases -- you have to have cooperation.
And stable regulatory environment which we don't have in this country.
Well the Obama administration is cut back on oil leases by more than 50% almost 60%.
There's something congress can do to reverse that.
Well we're trying we don't have control of both houses of congress that we are trying to.
Lifted this -- moratorium that we have in the Gulf of Mexico.
We have -- ahead.
Three -- four -- five leases since the oil spill.
And usually we have ten per month.
This is huge waste of time and and energy and resources we need.
Did open it up and Republicans are certainly trying to and there are some Democrats who agree with us and we're trying to put together a coalition.
That would have a sound energy policy.
Talking about taxing the oil companies and making them move more of our jobs overseas is that really the message to want to send I hope not.
Senator -- -- I'm gonna get your take on -- -- -- topic before I let you go and look.
It is believed still at this point that he -- -- -- nominate.
The president's economic analysts warn about the consumer protection agency that opens up in July as you know but the senate has to approve.
Her what are your feelings if Elizabeth Warren is nominated would you would you give her a yes vote.
I would want to look very carefully at that I don't want to make a commitment right now but.
I'm very concerned about the consumer agency at all I think that we need to go back to relook at that finance reform bill.
They created this new federal agency.
That is going to be doing things that are already being done it's redundant it's repetitive.
It's expensive and really there -- No governor over this independent person -- in the Federal Reserve but they don't have control.
I think that's -- very unsound policies so I'd -- for repealing the whole bill and starting all over resident and news over reaching.
Duplicate -- federal agency that we do not need right now.
All right we'll senator Kay Bailey Hutchison from Texas always thanks talk to you senator thank you thank.
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