principle that the benefits of dollar stability vastly outweigh those fringe risks. paul: what about your response to those who say, you know what? you re just meddling with the independence of the federal reserve. they re supposed on the independent of politics, independent of the political branches. well, briefly what i would say is politics isn t the only thing that can capture an institution. managerial bureaucracy can too, a bunch of rogue bureaucrats in the late 90s kid the same thing. what i m talking about is leadership, principle for the american people, not the kind of corruption that you would worry about with the president offering leadership and vision. paul: if all right. vivek ramaswamy, thank you for that provocative take on the fed, we appreciate it. when we come back, treasury secretary janet yellen warns that the u.s. cocould rub out of money to pay its run out of money in a matter of weeks as democrats are refuse to negotiate on spending reductions. so who wi
neil: you were speaking with the president and mitch mcconnell and 7 out of 10 times we ve been in this situation, there s been budgetary adjustments, this is a rare occasion maybe by design, sir, where republicans in the house pushing this wants and immediate quid pro quo. we raise the debt ceiling, the cuts into into effect. that s never been done. that s getting the wrangling from the white house. where is the middle ground on this? there have been the budget control act in 2011 came out of conversations around this topic and ultimately led to spending reductions. what the house is trying to achieve here neil: didn t immediately, right? the only reason i getting a nuance like this, the democrats say they re trying to play a different game here. what is the procedure going forward that you think would work? i think that sitting down and actually negotiating out something that would represent
principles. if they aren t spending reductions, what are they? there are a number of months to get this done so it s not like this is hanging over their head right now. kevin mccarthy said he wants to get it done sooner rather than later. but he s got this caucus that really is going to want to have some cuts. and they also have this power over him, meaning they can remove him from his position if he doesn t go along with them. so this is going to be a set of tough negotiations and conversations between mccarthy and his caucus and mccarthy and the white house. you at the beginning of the program channelled juan ciscomani. because they have to run for re-election. thanks for your time today on inside politics. kasie hunt picks up right after a quick break. refundnd that allowed us to keep the people that have been h here taking care of us. learn more at getrefundnds.com. how do i do it all? with a little help. and to support my family s immune health,
some of my conservative colleagues and i may be disappointed if you see moderate republicans working with democrats to get a clean vote on the debt limit, we would probably like to use that as an opportunity to analyze some of the mandatory spending that s given us a $32 trillion debt. you know that economists say if we get close to default, then what s going to happen? interest rates are going to rise. people will feel it in their mortgages. in their auto loans, in their credit card bills. that s why we need to start now. we should not engage in brinksmanship. we re already having the discussions with jodi arrington, the new chairman of the budget committee, how to create a budget resolution to inform on policy choices. we have an obligation as the republicans in the majority to sell to the american people work requirements or other spending reductions to get buy-in on that. i don t believe we should push this to the very end. i think we need to be laying out a plan now to get our
to tell us all what cuts are going to tell us all what cuts are going to have to come then, what spending reductions are going to happen, potentially what taxes could go up. to try and plug the fiscal black hole, we are in this really strange position this morning where rishi sunak has said nothing about what he will actually do when he takes over. yes, we had that campaign over the summer when he set out his plans, but that was against a very different backdrop, both domestically and internationally, where rishi sunak, remember, were saying, i will take 4p off in come tax basic rate by the end of the next parliament. it s going to be tricky to promise that given what underfunding tax cuts has done over the past few weeks. there is also the past few weeks. there is also the question for mr sendak that we can see on screen, there is a question about whether he would have to rethink the energy package that liz truss was promising. in the