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Ed Koch on the Budget Talks Stalmate

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    Fmr. Mayor Ed Koch, (D-New York), on the lack of progress in the budget talks.

  • Duration 4:24
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A Fox Business solar no -- no deal latest budget negotiations between Vice President Biden key lawmakers wrapping up.

For the day at least on Capitol Hill and GOP leaders making clear no agreement is even near.

Now August 2 -- debt -- deadline looms former mayor of New York Ed Koch says it's time for the GO Peter.

Concede on tax hikes to help bring the US back from the fiscal break.

-- -- In the -- it's good to see a mayor thanks like -- here well first of all assuming.

That the treasury could get more money -- tax rates or -- somehow.

There's there's doubt about that but assuming that that happens and what that what makes because sometimes it does -- you don't always get what you asked for when you raise tax rates.

But assuming that does happen what makes you so sure the government's gonna use that money to pay down the debt.

Well you can put in the -- But look there's no reason though why he couldn't be inserted in the look at the Social Security so called lock box which is in the law as a walk marks and politicians go and steal money from at all well but the fact is.

That the people who examine the lockbox.

Didn't tell you the truth.

But now you have the people on the far left and the far right.

I think and scream and if they can show that the language is inadequate.

Than the congress will have to come up.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Violate their promise let me give you another one.

Where I think it's even easier because I've heard even Republicans.

Say that a mistake was made and that is.

They took away the power of Medicare.

-- to buy the drugs that are given to those eligible basically free with a co pay.

And if they allowed a volume discount.

It would save over -- ten year period -- trillion dollars.

Why they gave that away and it was Obama who gave it away and I were shocked.

When he did that but why don't they agree on -- that would this satisfy everybody.

Our quote.

The debt ceiling as I mentioned before is looming -- coming up in August we've already some -- we've already touched on it.

Are we just came out of Fox News opinion poll that says that the American people by a big margin 55%.

Believe that before that that ceiling is raised we should focus on cutting spending I'll cut this spending first.

Before your race and that's your -- I think -- at that ceiling -- -- Katy bar the door we'll have more I am.

Believe that there will be.

Reductions in expenditures.

But there must be accompanying.

Increase in revenues and I -- new one with respect to Medicare raises trillion dollars.

It's not even -- tax.

Yeah but again -- politicians have whenever they get money.

I mean -- Clinton was able to balance the budget.

Not by bringing in more money but by cutting expenses -- cut welfare expenses he cut the defense spending by trillion dollars of course you have -- peace dividend.

-- but it was always by cutting spending that's the only way we balanced budget act in bringing in more revenue the other is also.

Bring employees -- from Afghanistan might happen I mean that's over a hundred million dollars.

A year earlier I think both Republicans and Democrats are getting together and -- OK I got to ask you -- -- on related just for a second Anthony Weiner -- got to let go away and I.

Yesterday -- only.

-- nice things because I thought he'd been punished enough.

But he didn't tell the whole truth when he had he is a press conference he didn't tell us about these have pictures of these genitalia.

-- The web sites I mean it's juvenile behavior but he's now the subject of ridicule.

He should relieve the pain and of his wife his role as himself.

But not just said today -- -- when you stick and big mistake because he will walk into a room and there will B and people who laugh.

That's ridicule and politicians and I say -- chooses as a good word.

Can't stand right now.

-- -- great to see you sir thanks for being here --

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