a default on the debt of the united states mains that the full faith and credit of the united states, around the world, to all of our creditors, all the bond holders, all the people who are expecting to get social security checks, none of them will be safe. congressman, i have trouble calling this a negotiation, because it s not supposed to be a debatable matter. it s akin to, saying, i won t shoot you in the head if you give me a peanut butter sandwich. it s like, i would like if you don t shoot me in the head. maybe we can discuss subpoena butter sandwich. republicans say they are negotiating lowering spending. right? tell me what that looks like. there are things that they re asking for right now in order to agree to raising the debt limit. first of all, as you pointed out in your opening, there is a separate process for that. the budget process. democrats have said, talk about it, but the issue is, a a revenue problem.
to all of our creditors, all the bond holders, all the people who are expecting to get social security checks, none of them will be safe. congressman, i have trouble calling this a negotiation, because it s not supposed to be a debatable matter. it s akin to, saying, i won t shoot you in the head if you give me a peanut butter sandwich. it s like, i would like if you don t shoot me in the head. maybe we can discuss subpoena butter sandwich. republicans say they are negotiating lowering spending. right? tell me what that looks like. there are things that they re asking for right now in order to agree to raising the debt limit. first of all, as you pointed out in your opening, there is a separate process for that. the budget process. democrats have said, talk about it, but the issue is, a a revenue problem. the reason if you want to lower the deficit, but we re often doing is repealing the tax cuts to the very wealthy, they won t do that. they re instead trying to hurt the poorest am
that are in that legislation. and the cuts, not only for this year, but ongoing and to the year it is a radical budget appropriation program they are using the debt limit as a leverage to get what they want. which is the wealthy get wealthier, and the poor get poorer. when there is a budget and appropriations, debate there always has been. republicans actually control a lot of that process right. now that is the place for that. but i think you draw a picture that s very important for my viewers to understand. first to cut taxes on the wealthy and on corporations, then you see your revenue drop. so you see your deficit balloon. then you say oh my, gosh we re spending too much on people who get medicaid. and, snap temporary systems, we gotta cut that and make work requirements. hold, on you start of the revenue problem by cutting the taxes on the wealthy and corporations. you have to balance the budget. there s two ways to, do it spend less, or taken more.
you know whatan economic cats again, the people who have spent 31 trillion dollars that forced the situation happen. wait a minute, trump is a much irresponsible - everybody, republicans, democrats, all before i go here would you be willing to vot for compromise, in other words raise some taxes i don t think we have a revenue problem in washington, we have a spending problem you know something, that is glib that is glib what does that mean? the two sides have to come together, and hammer it out. cut spending. both sides need to cut spending cut the bill up money, a lot o green energy spending. but are you willing to le us go into default no. i have always said i wouldn do that. so would you compromise it depends. on taxes?
janet yellen, treasury secretary says if we don t raise the debt ceiling that this country will be thrown into an economic and financial catastrophe. and so i m asking you if you re willing to risk that you know what, an economic catastrophe, is, again, the people that have spent $31 trillion that forced this situation to happen. well, wait a minute, trump is as much responsible for anybody i said everybody, republicans, democrats, it was all before i got theory. would you be willing to vote for compromise in other words, raise some taxes? i don t think we have a revenue problem in washington. we have a spending problem you know something, that s glib that s glib. what does that mean? the two sides have to come together and hammer it out cut spending. both sides need to cut spending. where do you want to cut it covid bail out money and a