the tax receipts would continue to cover 60% of spen spending. so you will hear the phrase default on our obligations. that just means there wouldn t enough money for federal spen spending. this is where the conservatives need be careful. they are double minded about the federal government. they may want it cut down but history suggests they don t want it shut down. standoff between speaker newt gingrich and president clinton in the 1990s led to a partial government shutdown, the public hated it. held the republicans responsible. they ended up getting nothing but blame. republican back ventures could learn from this. one more thing you can learn is you can t run washington with control of one house and the senate and the white house in opposition hands.
messages suggest. this puts the speaker in a box leading to collapse of plan a of $4 trillion debt deal and the slimmeded-down plan b. in the course, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spen spending. boehner is saying that the stumbling block will lead to taxes on red ink and says the president plan c unveiled friday increases tax rates on some and punting reform of the entitlement program on medicare to some point next year. the best way to address the crippling debt is make significant spending cuts to fix the tax code to pave way for long-term growth and
the president spending to us oblivion? they no. or they will be sent home. president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. i understand that. but under our system the congress writes the law and president enforces them. if they don t go along with the law that the president wants it won t become the law. then we won t let him borrow more and he can t spend more than what the treasury collects. it s forced to reduce spen spending. that is the only way to get the house in order. over the cliff. over the cliff. juan? i hope not. i don t think it s good for most of america. it could be damage for economy struggling to recover. takes us further down the road
see republicans blink fire department you talk about the revenue on the table are you opposed to raising the tax rates? the first thing i m opposed to raising rates. individual taxes. a lot of ways to skin the cat here. but the president seem determined to raise the rates. that is not going to help the economy. of it seems vindictive to me. what we ought to do is try to reform our tax code and lower rates. maybe we d have revenue. but revenue by itself will never keep up with the spen spending. shannon: what about the mortgage deduction or charitable duction? there are things that come up with discussion. are they on the table? i think mortgage deduction is very important to the housing industry. first term home buyers and so forth. we ought to look at
listen, if you pass every person and successful small business making over $250,000 at 100%, only run the government for 98 days. if everybody who paid incomes taxes last year, including the successful small businesses double the income taxes this year we would still have a $300 billion deficit. there aren t enough rich people and small businesses to tax to pay for all their spen spending. that back and forth. is that effective? excellent response by ryan. i don t think he cares about the response. his job was to go out and energize, demoralize the liberal base. just about every liberal in the zone, so by that standard he did rather well. bret: down the row, who won? did it move the need? absolute draw. if you add style, substance and demeanor. draw. by the way, what biden said is not the president s policy and