kerplunk. it s dead on arrival. now, the senate will vote on senate majority leader harry reid s bill by doesn t have the balanced budget amendment in this form at all. i assume you won t vote for harry reid. there is not much difference between the reid bill and boehner bill in terms of substance. about the same particularly in the first year spending cuts, there are about $4 billion difference which in the grand scheme of things in these bills isn t that much. what i would like to do is take the reid bill, attach the balanced budget amendment to it and send it back to them. that way it would and give the president authority to have the debt limit increased until after the elections which he is insisting on. it is the reid bill so it is what the senate is insisting on. it contains a balanced budget amendment which house republicans conservatives are insisting on. i m not suggesting that all of my colleagues or even a good number would vote for it but i
at it. we deficit spend about $4 billion a day. we only cut less than two days worth of deficit spending that we have through the year. that s what i ultimately couldn t supreme court it. jason, in the end, do you think that you will be closer to your goal of balance budget, shrinking government because you voted against this bill or is it more at this point a vote on principle this is what you campaigned on and which this is what you are going to do. i think it s a little of both. don t give up on cut, cap and balance. it had more republicans votes than the vote we had today. we also had five democrats vote. you had more votes on both sides of it. i don t care if it s over the next 36 hours or the next 36 days or months or years, i will continue to fight for a balanced budget amendment to put it on the second that s good, it s better than nothing, but it s not as good as making the balanced budget amendment the focus of what this country is looking at, because it will truly chan
what is the hold up here? it s a couple of sticking points, but it s a big one. it s the issue of the second vote on the debt limit. do you use the debt ceiling again as a trigger on congress if they don t act when it comes to the second round of deficit reduction that s in this reid bill also a version of it in the boehner bill. this issue of having this tax reform committee, this entitlement reform committee. is the debt ceiling the trigger or do you find something else? they use this word trigger it truly is putting the gun to the head of lawmakers to try to get action. obviously the president s preference is not to have the debt ceiling used again. instead use the threat of automatic across the board cuts to pots of money like transportation, education and defense.
would. i think that it is that important to get the balanced budget amendment in law and. greta: that might win because, i mean we do all our research on everybody and how everyone voted. there are 20 democratic senators who have said in recent history that they wanted a balanced budget amendment. if they get everything this he wanted in the reid bill. the reid bill which is theirs, we wouldn t change it word of it. take the entire reid bill or just take the first year and say let s do do the first year and deal with the intervening years later. frankly in washington i have been around long enough to know greta: nobody trusts beyond a year. what really counts is the year that you are in and what you are doing. so just include the first year if you want to and say we will do the first year and give the president what he wants in terms of when the debt ceiling goes to after the elections but you attach the balanced budget amendment and you are right, 20 some democrats including
two rounds of increasing the debt ceiling. so on. for the president to get round 2 of the extension to the debt ceiling, congress must have sent to the states for their ratification a balanced budget amendment. that requires in each chamber, the house and the senate, a two thirds vote. laura: they don t have two in other words of the house of representatives. the idea that they would ever see a two thirds voted for balanced budget amendment is folly. but this was what the tea party caucus demanded. laura: let s go to ed henry. ed is joining us now from the white house. he has been monitoring the situation. and, ed, the mood at the white house, after the boehner bill passes is one of what? what are you sensing? it was a on. if he thelt like there had been all these build up. spend all these hours waiting for it as we know a lot of times