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MSNBC Velshi June 4, 2024 14:48:00

Direction, it is a transformational? not even close. remember, when i was chairman, ali. one more point, when i was chairman, we worked with the clinton administration and balance a budget for like three years, pay down the largest amount of debt, and who was a direct the program? the republicans did. because they like to spend as much as the democrats except they feel guilty when they do. let s talk about this. a couple of times we have come close, 1995 was one of them. in 1970, we had a technical default. it s the only time america has gone into default in the, budget was not a political issue, a technical issue. mark sandy from movie was telling me there are some analyses by economists who say we are still paying, the amount of money we paid extra because of an uptick in interest rates back then, we are still paying. for 2011, when we came very close, within 72 hours of defaulting on our debt, the estimates here are that the cost of that was 19 billion ....

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MSNBC Velshi June 4, 2024 14:55:00

14th of 1996. then i want to talk to you on the other side, let s listen. all right. oh, wait, i don t have it, i don t have. it sir, i save. you let me read to you what you said on meet the press. what was it about, ali? you said it is about negotiations around the budget. then you said we are miles and miles away on a basic, just on a basic issue like welfare reform. we can t even reach agreement on whether able-bodied people within the ages of 18 and 50 who get food stamps ought to be required to go to work. we are so far away. frankly, it is there. so my point is, you were having very much the same discussion, it sounded like kevin mccarthy was having with the white house, in 1996. your comment? well, you know, we had welfare reform. the republicans and democrats reached an agreement on welfare inform. and people who were really worried about it said it would be terrible. ....

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MSNBC Velshi June 4, 2024 14:00:00

good morning, it is sunday, may 20th. i am ali velshi, and a agreement principle has been re-switch when the, white house and republican negotiators was just eight days left until the june 5th deadline to raise the debt ceiling. and avoid potential default. news of the tentative deal trickled out just a couple of hours after president biden and house speaker kevin mccarthy spoke last night and at around nine, pmf iraq hardly confirmed that news with a quick news ....

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MSNBC Velshi June 4, 2024 14:49:00

Dollars in increase in interest costs. this brinkmanship is very expensive. when you brought up, as you rightly did, the amount of money we spend at interest, aggravating that and not spending that money on other matters is really bad for the economy. so, what has happened now, has it and other self in that for the economy, to get this close to a default. well, 19 billion is a tremendous amount of money. but compare that to a whole budget, that, everything else, interest rates are going up anyways, ali. as you know. this means the cost of financing these deficits is increasing, which means the amount of money that goes to pay for interest, that money is not available to pay for critical programs, veterans, education, any of these kinds of things. there has to be some kind of a tripwire. because you said it, republicans have dirty hands. of course, the democrats do. it is just spend, spend, spend. ....

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MSNBC Velshi June 4, 2024 14:22:00

Friends think that they are not going to do well in turkey. and they are looking forward to go abroad to europe and so on. he is the only hope for our country. but he has been here for over 20 years, he is a pro candidate. so ali as you can see this is a very hotly divided election but if the polls are to be believed and if the first round of election two years ago, as you mentioned wasn t believed, we can probably expect that erdogan will prevail, and that his 20 year rule over this country will be extended for another five years that will be more frustration from washington and brussels and other western capitals when it comes to dealing with turkey. ali? bottom of the right screen, and the corner here, matt, we are just watching mccarthy coming out in a moment stormed out interrupt you for this question but it s but kilicdaroglu tried to assemble a group of people who could ....

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