on the roof with balloons and some people would suggest, jump, but it is cause for celebration when you finally after four years, it s been a long four years, you are better off four years ago. who is better off? lend some sanity back to the table. trillion dollars add to the deficit we re better off. kimberly: the president has right to his bin. cbo report said the clinton era, surplus, when bush blew on all his great programs did not exist. so if he is going to choose this report to hang his hat on, i think that one deserves some credibility, as well. the people that disagree with the president are people like simpson-boles who were asked to do the bipartisan commission to look what we need to have a pro-growth policy in america. also the team of ceos that get
that they won t close one special interest tax break, not one, for the purpose of reducing the deficit. and we think we should opening and closing some of the loopholes, saying if you lower the tax rate? every dollar from a loophole closure goes into providing tax breaks somewhere else, which is very different than what the the bipartisan commissions call for. simpson boles had tax reform did lower the rate bus it also generated lots of additional revenue lower the deficit. so, that s the approach we take. we want to close these tax breaks to help reduce the deficit, in combination with additional targeted cuts. when does the real work start? everybody unrail vail their budget proposal, pass their frameworks, then what happens? then your going to have a house republican budget and a democratic budget and then is when you start to try to bridge those differences. whether that takes does that start in your conference committee first?
dissolved. they actually had a lot of great suggestions. i was looking through things they proposed. one was a partnership between educational institutions and companies how we can train people for jobs out there. there are computer jobs that are going wanting because we don t have people trained for them. council met but nothing was done with the suggestions. it s like simpson-boles, they came up with great ideas and then the president sort of dismissed them. alisyn: we need to implement them. why not. alisyn: great to see you. catch more with melissa on money airing weekdays at 5:00 p.m. on the fox business network. meanwhile, the terror attack on a u.s. embassy, this time in turkey, a nato ally. we ll talk to a man that knows all about turkey, retired lieutenant ralph peters and why they targeted the embassy now.
because if you look at it as just historical fact the taxing rate right now as a measure of g.d.p. is historic low. it is not high. again, it s very political matter. president will have to cut spending because if he has a meaningful second term, his legacy is going to be tied to things like simpson-boles and something that stabilizes our future. i hope the president is watching juan with sage advice. i think charms is exactly right. it s hard to have good faith negotiations with someone who doesn t want to cut spending. president has given no indication he is serious about cutting spending throughout the first term and now in the early stages or weeks before he begins his second term. it s impossible to have that. i think it s a hunge moment because now that republicans understand that, they won t be tempted to engage in good faith
right. they just got revenue. we have to cut spending. we have a $16 trillion debt. the credit card is maxed out. we have to cut spending. he is exactly right. let s focus on the problem which is this government can t control spending. we have to get control of it. we spoke at length during the campaign when you were the president s point person on the budget and you repeatedly stated and said it again this morning simpson bowles is is the model and you have to have revenue and spending cuts. that s right. we got the revenue. we got a tiny tiny spending cut along with the fiscal cliff deal. where are the spending cuts? actually the cuts and revenue you we have taken so far are still far short in both categories from simpson bus. boles. but the spending cuts are way short. that is not the case. simpson bowles said at the starting point we would allow the upper income taxes to go back to clinton era levels. we have just barely gotten to the spending point. we are a