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CNNW In The Arena July 26, 2011

evening here in the nation s capital. just to underline the peril facing the united states economy, and the american people, democratic officials familiar with the president s speech expect him to say the country right now is, quote, in imminent threat of default. with only about one week left for democrats and republicans to agree on a deal to raise the debt ceiling. in a speech earlier today, the president alluded to the bitter political grid lock between both sides. are we a nation that asks only the middle class and the poor to bear the burden? after they ve seen their jobs disappear and their incomes decline over a decade? are we a people who break the promises we ve made to seniors or the disabled and leave them to fend for themselves? that s not who we are. we are better than that. we re a people who look out for one another. we re a people who believe in shared sacrifice. because we know that we rise or fall as one nation. congressional leaders from both par ....

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Detailed text transcripts for TV channel - MSNBC - 20110725:06:20:00

It s not hard to cut it without hurting entitlement benefits, but we don t have anybody that wants to do that without getting a tax increase. all right, well, i want to get to taxes in just a minute, but i want to talk out the here and now, which is a failed political system at the moment. and what you heard from mr. daley, very difficult days in the financial markets and a lack of confidence around the world at the united states creditworthiness and its ability to reach some kind of consensus. does that not have to create a breakthrough along the lines of what the president is talking about, cuts that are large enough, an extension of the debt ceiling that s long enough to say to the markets, you know, you can count on the united states? i don t agree with that, because if you give an extension of $2.4 trillion to this president and this administration, which has policies that have actually hurt our recovery, i think you actually hurt the possibility of ....

Tax Increase , Entitlement Benefits , Here And Now , The System , Bill Daley , Debt Ceiling , 4 Trillion , 2 4 Trillion ,

Detailed text transcripts for TV channel - MSNBC - 20110725:08:20:00

Hurting entitlement benefits, but we don t have anybody that wants to do that without getting a tax increase. all right, well, i want to get to taxes in just a minute, but i want to talk out the here and now, which is a failed political system at the moment. and what you heard from mr. daley, very difficult days in the financial markets and a lack of confidence around the world at the united states creditworthiness and its ability to reach some kind of consensus. does that not have to create a breakthrough along the lines of what the president is talking about, cuts that are large enough, an extension of the debt ceiling that s long enough to say to the markets, you know, you can count on the united states? i don t agree with that, because if you give an extension of $2.4 trillion to this president and this administration, which has policies that have actually hurt our recovery, i think you actually hurt the possibility of keeping our aaa rating without ....

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Detailed text transcripts for TV channel - MSNBC - 20110725:08:19:00

Negotiator senator tom coburn of oklahoma. senator, welcome back to meet the press. good morning. how are you? i m fine. i want to get your reaction to what you heard from bill daley here from the white house this morning, which is, the president will not sign a deal that results in only a temporary increase of the debt limit. he wants to see something that gets us through 2013. well, first of all, i think that s a ridiculous position, because that s what he s going to get presented with. that s the compromise way through that s going to build the compromise. david, everybody s talking about the symptoms of our problem instead of the real disease. the government s twice the size it was ten years ago. it s 30% bigger than it was when president obama became president. the problem is, is we re spending way too much money, and it s not hard to cut it without hurting entitlement benefits, but we don t have anybody that wants to do that without getting ....

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Detailed text transcripts for TV channel - MSNBC - 20110725:06:19:00

So-called gang of six, negotiator senator tom coburn of oklahoma. senator, welcome back to meet the press. good morning. how are you? i m fine. i want to get your reaction to what you heard from bill daley here from the white house this morning, which is, the president will not sign a deal that results in only a temporary increase of the debt limit. he wants to see something that gets us through 2013. well, first of all, i think that s a ridiculous position, because that s what he s going to get presented with. that s the compromise way through that s going to build the compromise. david, everybody s talking about the symptoms of our problem instead of the real disease. the government s twice the size it was ten years ago. it s 30% bigger than it was when president obama became president. the problem is, is we re spending way too much money, and it s not hard to cut it without hurting entitlement benefits, but we don t have anybody that ....

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