consequence to the debt. she told me all of the $600 billion goes on the deficit. i hope that is true. that is only 5% or 6% of the deficit. when it comes to defense spending the only reason i would vote for this deal if sequestration is not included is trusting people like dianne to work with me to make sure it never becomes a reality post january 1. chris: even if you get the automatic cuts which are $110 billion or $120 billion in the first year even if you get those the deal that you are talking about does not reduce our national debt because extending the bush tax cuts on 98%, 99% of americans it will actually increase the debt by trillions of dollars over the next decade. the question is when are you guys going to get serious about spending? we are getting serious about spending. we already cut spending between the c.r. and the affordable care act. we cut spending a trillion dollars plus. how to there is an argument
Detailed text transcripts for TV channel - FOXNEWS - 20121230:19:02:00
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told by treasury secretary geithner probably around the end of february, two months. assuming you get this deal and you turn off the bush tax cuts, the lapsing of the bush tax cuts for 98% of americans. are republicans going to go after the democrats hard on spending as part of bargaining on the debt deal and the president says i m not going to negotiate on that any more? here is what i will do. if you took every penny of the $600 billion and put it on the deficit that is about 6% or 7%. i don t believe all will go on the deficit. when we raised the debt ceiling in august of 2011 we borrowed $1.2 trillion. we spent that much money in 17 months. why would i raise the debt ceiling again unless we address what put us in debt to begin with? i m not going to raise until we become serious about keeping the country from becoming greece and saving social security and medicare.
the fiscal cliff. time for our sunday group, bill kristol. evan bayh, byron york and kirsten powers. well, bill, you just heard mitch mcconnell say he is hopeful and optimistic. will congress pass something in the next 48 hours, something to avoid the fiscal cliff? i don t know. but i guess probably. and it will be a bad deal but i suppose better than doing nothing. amazing every working american s taxes will go up on january 1. they are doing nothing about the payroll tax which is a big increase, 2%. and we will have totally irresponsible defense cuts. everybody agrees this is probably bad policy to have middle class americans taxes go up and this is what congress thinks is a good deal. chris: i m not sure they think it is a good deal but a deal that avoids the worst of the fiscal cliff. senator bayh, obviously we don t know what is your sense? no filibuster in the senate.
he s telling hard working struggling families that he s going to force them to pay to subsidize people who are breaking the rules. that is the issue. fundmental fair. brian: the action is filing a bill this week or next week? i am filing the legislation with representative oconle and representative oriel will prohibit use of dollars to subsidize those breaking the rules. brian: taking action. thank you so much. thank you. brian: straight ahead. negotiation stalled or is that the plan. do we go over the fiscal cliff, which party benefits the most? there is inform that will surprise you . new plan to push americans ahead. longer school days all over the great nation. is that a good idea? when will they do their
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