will be some reduced spending not nearly enough but real reduced spending that i think can be enforced. maybe a half or less than half of what we really need to do to get our country on a sound footing. it is not a debt ceiling that is a big issue. the debt ceiling is a process and opportunity for us to discuss the overall debt trajectory that is dangerous for america to give us an opportunity to reverse the trends. that s some progress driven by the last election but not enough. is there any sort of as you put into the power presentation or in this plan so that in the next congress we are in this mess again in terms of the trajectory? is this really finding o bindin on anybody for a period of time? it is binding. a year or so ago we voted to declare the census an emergency.
will be some reduced spending not nearly enough but real reduced spending that i think can be enforced. maybe a half or less than half of what we really need to do to get our country on a sound footing. it is not a debt ceiling that is a big issue. the debt ceiling is a process and opportunity for us to discuss the overall debt trajectory that is dangerous for america to give us an opportunity to reverse the trends. that s some progress driven by the last election but not enough. is there any sort of as you put into the power presentation or in this plan so that in the next congress we are in this mess again in terms of the trajectory? is this really finding o bindin on anybody for a period of time? it is binding. a year or so ago we voted to declare the census an emergency.
why? because the agreement are not coming together in the way i think all of us would hope. that is, we do need a grand bargain, something on the range of $4 trillion to meaning any change the debt extra jik joke trithat we are on the debt trajectory that we are on. that does not appear to be at hand. i should say i also don t believe we ll default. i believe that leaders, republican and democrat understand fully that a default would be a catastrophy. bill: that is significant then, what can be done in 6 days then? you know we could adopt the framework the group of sick have laid out. it s the on bipartisan agreement produced anywhere. we could also do something short
more nervous than ever. why? because the agreement are not coming together in the way i think all of us would hope. that is, we do need a grand bargain, something on the range of $4 trillion to meaning any change the debt extra jik joke trithat we are on the debt trajectory that we are on. that does not appear to be at hand. i should say i also don t believe we ll default. i believe that leaders, republican and democrat understand fully that a default would be a catastrophy. bill: that is significant then, what can be done in 6 days then? you know we could adopt the framework the group of sick have laid out. it s the on bipartisan agreement
evening here in the nation s capital. just to underline the peril facing the united states economy, and the american people, democratic officials familiar with the president s speech expect him to say the country right now is, quote, in imminent threat of default. with only about one week left for democrats and republicans to agree on a deal to raise the debt ceiling. in a speech earlier today, the president alluded to the bitter political grid lock between both sides. are we a nation that asks only the middle class and the poor to bear the burden? after they ve seen their jobs disappear and their incomes decline over a decade? are we a people who break the promises we ve made to seniors or the disabled and leave them to fend for themselves? that s not who we are. we are better than that. we re a people who look out for one another. we re a people who believe in shared sacrifice. because we know that we rise or fall as one nation. congressional leaders from both parties u