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Detailed text transcripts for TV channel - CNN - 20110424:19:14:00

Doing. senate minority leader, mitch mcconnell, a republican, just one of the many that are drawing that distinction that you just made between spending cuts and raising the debt ceiling. a serious, incredible path forward, not only short term but long term, to reduce spending is the only thing, in my judgment, that will get the votes in the senate to raise the debt ceiling. steven moore, a week ago you and i had a great conversation with cnn money s jean cehoti, who reminded us that raising the debt ceiling, like raising your credit limit, is not really a license to spend more. it is, perhaps, a license to spend bills that we are already committed to. should raising the debt ceiling be kept separate from what we actually spend? i don t think so, savali, an david, i ve been talking to a lot of my people on the hill, ....

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Detailed text transcripts for TV channel - CNN - 20110423:17:13:00

Give some credit here to wall street executives. they re in the doghouse for so much. in this case, they really have been working with republican leaders making sure they understand. i think john boehner has reflected that in his recent comments. i think the politicians increasingly understand it would be a catastrophe to allow it. but, again, this is so much about politics and the long-term debt that are being tied to the issue. i think we have to appreciate that from a republican standpoint, this is one of the few opportunities they have for leverage to try to get some sort of agreement going into the future on lowering the rate at which we re borrowing money. let s talk about that specific leverage. this is what republicans are doing. mitch mcconnell, a republican, just one of many in congress who are drawing exactly that connection that you just made between spending cuts and raising the debt ceiling. a serious, incredible path forward, not only short term but long term, to red ....

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