happened in the 90s, they have to say, what happened after 2000. because by making it everybody s fault, everybody is to blame, they make it nobody is to blame which means they themselves is not to blame. a lot of centrists have adopted this theory, too. the fact of the matter is, there are distinct periods of responsibility and irresponsibility. there is this constant lie that you hear and it s taken as conventional wisdom. reagan went along with the tax increases in exchange for the spending cuts but we never got the spending cuts. yes, we did. yes. and we did indeed legislate half spending cuts in that bill. clinton did. half of it was taxation and half was real spending cuts. if you go back to when congress agrees to spending cuts, they actually happen. if you look under reagan, domestic discretionary spending was squeezed a lot. it s not as if nothing happened.
spending cuts? because if they do, if they admit that something nice happened in the 90s, they have to say, what happened after 2000. because by making it everybody s fault, everybody is to blame, they make it nobody is to blame which means they themselves is not to blame. a lot of sen tur rift have adopted this theory, too. the fact of the matter is, there are distinct periods of responsibility and irresponsibility. there is this constant lie that you hear and it s taken as conventional wisdom. reagan went along with the tax increases in exchange for the spending cuts but we never got the spending cuts. yes, we did. yes. and we did indeed legislate half spending cuts in that bill. clinton did. half of it was taxation and half was real spending cuts. if you go back to when congress agrees to spending cuts, they actually happen. if you look under reagan, domestic discretionary spending was squeezed a lot.
hit by an interest hike. let s all go outfront. i m erin burnett. outfront, count down to another downgrade of america? the super committee held a rare public hearing today. they re the group of 12 charged with cutting the deficit by at least $1.2 trillion. if they don t do it, we can end up on a rate to higher interest rates and a lower standard of living. here are the dates we need to watch. november 1st, cbo says the super committee must submit their plan for review. that is five days from now. november 23rd, that is the deadline for the final submission. and then december 23rd, the final deadline when congress must up or down vote that plan. the committee must come to an agreement, and congress has to pass it or automatic across the board cuts will be made, half of them coming from our defense budget. the problem is those cuts don t come until 2013. they are too small to prevent more downgrades. yes, thanks to congress, america s economic standing in the world is on
i m erin burnett. outfront, count down to another downgrade of america? the super committee held a rare public hearing today. they re the group of 12 charged with cutting the deficit by at least $1.2 trillion. if they don t do it, we can end up on a rate to higher interest rates and a lower standard of living. here are the dates we need to watch. november 1st, cbo says the super committee must submit their plan for review. that is five days from now. november 23rd, that is the deadline for the final submission. and then december 23rd, the final deadline when congress must up or down vote that plan. the committee must come to an agreement, and congress has to pass it or automatic across the board cuts will be made, half of them coming from our defense budget. the problem is those cuts don t come until 2013. they are too small to prevent more downgrades. yes, thanks to congress, america s economic standing in the world is on the verge of another downgrade. economist ethan har
let s all go outfront. i m erin burnett. outfront, count down to another downgrade of america? the super committee held a rare public hearing today. they re the group of 12 charged with cutting the deficit by at least $1.2 trillion. if they don t do it, we can end up on a rate to higher interest rates and a lower standard of living. here are the dates we need to watch. november 1st, cbo says the super committee must submit their plan for review. that is five days from now. november 23rd. that is the deadline for the final submission. and then december 23rd. the final deadline when congress must up or down vote that plan. the committee must come to an agreement, and congress has to pass it or automatic across the board cuts will be made, half of them coming from our defense budget. the problem is those cuts don t come until 2013. they are too small to prevent more downgrades. yes, thanks to congress, america s economic standing in the world is on the verge of another downg