revenue enhancements, that s not to say the committee couldn t make recommendations that result in tax increases. but deal with this one piece at a time. bill: you believe there is the possibility there could be new tax increases. i think we have not a revenue problem but a spending problem. that s why i plan on address its through a constitutional amendment. bill: mike lee is a no. we got news of this deal last night and i haven t had a chance to talk to my colleagues or our counterparts in the house to get even a rough vote count. i should know more within an hour or two. bill: we just heard from ron johnson.
but a lot of people in this town can never say yes. a lot of people can never say yes. this house has acted. and, it is time for the administration and time for our colleagues across the aisle, put something on the table. tell us where you are. [cheers and applause]. bill: a terrific panel, steve moore with the wall street journal, and steve hayes, senior writer for the weekly standard and, a bureau chief for the chicago sun times and welcome to all three of you. a lot going over the weekend. steven hayes, i want to begin with you. should republicans take the deal and walk away with it and declare victory? there are reasons, for republicans to do just that. primarily, because they have changed the discussion, as other people pointed out, on spending and we are now talking about what we can cut, how quickly it
blubt word from the chairman of the congressional black caucus calling the deal a sugar-coated satan sandwich. is the u.s. still facing a downgrade tonight ratings. some economists say the damage is already done. stu varney is with us from the fox business network. reporter: how can you add $7 trillion to the national debt and that what this deal would do how can you ad $7 trillion, call it a cut in the debt and retain your triple aaa rating? how can you do that? let me go a bit further. this deal does not meet the criteria laid down by standard and poor s. they said to avoid a downgrade you must cut $4 trillion. this deal does not do that. secondly the rating agencies have said unless you get a
anybody. i think even president obama s most zealous advocate would admit that the president did not lead. alisyn: he adds that compromises on both sides amounted to a deal that neither side is really happy with. bill: let s break down who got what at the moment, democrats and republicans, claiming small victories here, republicans got a deal with no tax increases. period. and a trillion dollars in cuts in discretionary spending over ten years. plus, the debt ceiling increase will be matched dollar for dollar by deficit reduction and democrats got an increase in the debt ceiling, and also got the special congressional committee designed to come up with a broad deficit reduction plan, and if the committee s recommendations are not allowed, begin finefici of medicare and medicaid and social security will be shielded from any automatic spending cuts. alisyn: and this is a good
i haven t seen the final writing in detail. and as you know the details are important. i ll have a discussion and consult how this can stand. alisyn: good morning, congressman. do you like this deal? i m going to vote for it. it s not everything i will have wanted, but i think lit help the country. alisyn: what was the big thing you gave up? it s not what i gave up, i think it s what the country needs. this will guarantee $2.5, $3 trillion in deficit reduction. i think we need $4 trillion more. i think revenue should have been part of the deal. it may or may not be part of the deal in the final analysis. but having said that. defaulting on the debt is ridiculous and impossible.