Tip:
Highlight text to annotate it
X
>>> AS WE TOLD YOU A MOMENT
AGO, TODAY'S DEBT CEILING
TALKS AT THE WHITE HOUSE ENDED
JUST A FEW MOMENTS AGO.
FROM THERE TO HERE.
JOINING ME NOW TO DISCUSS
TODAY'S DEVELOPMENTS, WHERE WE
ARE, HOUSE SPEAKER JOHN
BOEHNER.
THANK YOU FOR COMING IN, MR.
SPEAKER.
>> BRET, GOOD TO BE HERE.
>> Bret: THIS WITHOUT THE
LONGEST MEETI YET AND JUST
MINUTES AGO, ANY PROGRESS,
WHAT CAN YOU TEM US ABOUT IT?
>> I THINK THE BIG ISSUE FOR
TODAY WA MR. CANTORND I,
THE MAJORITY LEADER IN THE
HOUSE, PRESSED THE PRESIDENT
FOR WHERE IS HIS PLN?
WE TALKED ABOUT A LOT OF
OPPONENT -- TALKED ABOUT A
LOT OF POSSIBILITIES.
HE AND I HAD CONVERSATIONS FOR
A COUPLE OF WEEKS BUT WE HAVE
NEVER SEEN THE WHOLE PLAN AND
WHAT THEY ARE WILLING TO DO.
A LOT OF PROBLEMS WE GOT INTO
LATE AST WEEK THAT CULMATED
SATURDAY WHEN I DECIDED THAT
WORKING TH THEM PRIVATELY
WASN'T WORKING IS THAT YOU
KNOW, THEY HAVE IDEAS BUT
THEY NEVER WOULD PUT THEM ON
PAPER.
THEY TALK ABOUT SUBSTANTIVE
REFORMS T THEY NEVER COULD
GET THERE.
THAT AND THEY WERE COTINUING
TO INSIST ON US RAISING TAXES.
SO, I THINK IT'S TIME FOR THE
PRESIDENT TO PUT HIS PLAN
THE TABLE.
LET'S LET THE AMERICAN PEOPLE
SEE WHAT THE PRESIDENT IS
PROPOSG.
YOU CA'T GO OUT THERE AND
TALK ABOUT A $4 TRILLION DEAL,
AGREEMENT TO SUBSTANTIVELY
CHANGE THE FISCAL SITUATION IN
WASHINGTON WITHOUT ANY FACTS.
>> Bret: TODAY, SENATE
MINORITY LEADER CONDITION
McCONNELL PUT TOGETHER WHAT
HE CALLED A LAST-DITCH
PROPOSAL.
WE DETAILED IN A STRY
EARLIER.
HOW DO YOU VIEW THE PROPOSAL?
>> I UNDERSTAND MITCH'S
FRUSTRATION.
WE'RE ALL POINTED OUT.
HE POINTS OUT, HIS IDEA IF WE
CAN'T GET THERE, NONE OF US
BELIEVE WE OUGHT TO DEFAULT ON
THE FULL FAITH AND CREDIT OF
THE UNITED STATES GOVERNMENT.
I THINK THAT IDEA AND THERE
ARE OTHER IDEAS OUT THERE IN
TERMS OF BACKUP PLANS.
IN CASE WE CAN'T COME TO AN
AGREEMENT.
>> DOESN'T IT UNDERCUT YOU?
>> NOT AT AL
EVERYBODY BELIEVES THERE NEEDS
TO B A BACKUP PLAN IF WE ARE
UNABLE TO COME TO AN
AGREEMENT.
I THINK MITCH HAS DONE GOOD
WORK.
>> SENATOR REED SAID HE IS
OPEN TO SENATOR McCONNELL'S
PLAN, SO IF THE WHITE HOUSE
SAYS OR TH PRESIDENT SAYS YOU
KNOW WHAT I'D LIKE SENATOR
CONNEL'S PLAN AND YOU CAN'T
GET IT THROUGH THE HOUSE,
ISN'T THAT ISOLATINHOUSE
REPUANS?
AGAIN, THIS IS A BACKUP PLAN.
WE HOPE AND BELIEVE WE HAVE TO
DEAL WITH IT S RESPOIBLE
AMERICANS.
LISTEN, WE'VE GOT A PROBLEM.
CURRENT SPENDING PROBLEM AND A
DEBT PROBLEM.
I BELIEVE THAT,AND I THINK
MR. CANTOR, THE MAJORITY
ADER, I DO BELIEVE THAT
MITCH McCONNELL AND JON KYL
ALL SHARE THE SAME VIEW
WE NEED THEIGGEST PENDING
CUT POSSIBLE.
MAKING SURE THAT THERE ARE NO
TAX INCREASES ON THE TABLE.
>> Bret: WHY HAVEN'T HOUE
REPUBLICANS MOVED FORWARD
THEIR OWN PLAN?
>> WE HAVE A NUMBER OF MEMBERS
O JUST DON'T BELIEVE THEY
SHOULD EVER VOTE TO INCREASE
THE DEBT CEILING.
>> Bret: HOW ARE YOU GOING
TO GET ANYTHING THROUGH?
>> I THINK IT'S PRTTY CLEAR
THAT THERE IS ONE OPTION.
ONE OPTION THAT OUR MEMBERS
ARE TALKING ABOUT THAT.
IS, AND I BROUGHT IT UP WITH
THE PREIDENT TODAY.
THAT IS LINKING THE INCREASE
IN THE DEBT CEILI TO REAL
ENFORCEMENT MECHASMS, REAL
BUDGET MCHANISMS.
ONE OF THEM BEING A BALANCED
BUDGET AMENDMENT TO THE
TITUTION.
MOST AMERICANS BELIEVE THAT
WASHINGTON BOUGHT OUGHT TO BE
BALANCED EVERY YEAR.
THERE HAS BEEN A BIG EFFORT TO
GET A BALANCED BUDGET
AMENDMENT PASSED.
I THINK IT' ONE OF THOSE
IDEAS WHERE IF YOU COULD GET
TWTHIRD OF THE HOUS OR
TWO-THIRD OF THE SENATE TO
SUPPT A BALANCED BUDGET
AMENDMENT, IT WOULD CERTAINLY
EASE THE WAY FOR THE KIND OF
SPENDING CUTS WE WOULD GET
NOW.
>> Bret: BUT IS THERE
MECHMISM TO LINK TO SOMETHING
BIG LIKE THAT DOWN THEROAD?
AND TRUST THAT IT IS GOING TO
ACTUALLY HAPPEN?
LAAKERS HAVE BEEN POINTING
TO RONALD REAGAN IN HIS DEAL
BACK IN THE '80s THAT DIDN'T
TURN OUT THAT WAY?
THIS INCREASE IN THE DEBT
CEILING WOULD NOT GO TO THE
PRESIDENT UNTIL BALANCED
BUDGET AMENDMENT HAD BEEN SENT
TOTHE STATES.
THAT MEANS TH IT HAS TO HALF
THE HOUSE BY TWO-THIRD AND
SENATE BY TWO-THIRD.
>> Bret: DO YOU BELIEVE THE
PRESIDENT WHEN HE SAID TODAY
HE CANNOT GUARANTEE THAT
SOCIAL SECURITY CHECKS WOULD
GO OUT AUGUST 3 WITHOUT AN
EXTENSION?
>> I D'T KNOW WHT TO
BELIEVE.
YOU KNOW, THERE IS, THE
TREASURY SECRETARY IS GOING TO
HAVE OPTIONS.
IN TERMS OF WHO SHOULD B PAID
AND WHO SHOULDN'T.
YES, THERE ARE SOME DEBTS THAT
HAVE TO BE ROLLED OVER.
BUT THERE IS GOING TO BE MONEY
AVAILABLE ON AUGUST 3, AND I
THINK IT'S WAY TOO EARLY TO BE
MAKING SOME TYPES OF VAILED
THREATS LIKEHAT.
>> Bret: DO YOU THINK THE
THREAT AND THE POSSIBILITY OF
LETTERS GOING OUT TO
BENEFICIARIES SPOKS SENATOR
McCONNELL?
>> I DO NOT BELIEVE THAT T
ALL.
I JUST THINK WE DON'T WANT
THIS TO HAPPEN.
WE DON'T WANT SOCIAL SECURITY
RECIPIENTS TO WAIT A DAY.
Y LONGER FOR THEIR CHECKS.
BUT IT REALLY STRIKES THE
IMPORTANCE OF WHAT IT IS WE'RE
DOING.
WE MADE THE POMISES TO
OURSELVES AND OUR KIDS AND THE
GRAND KIDS CAN'T AFFORD.
I SAID ALL YEAR, I THINK THIS
IS THE MOMENT.
THIS IS THE OPPORTUNITY FOR TO
US TACK THE LONG-TERM FISCAL
ISSUES.
>> Bret: YOU SAID TODAY
RAISING THE DBT CREELING IS
PRESIDENT OBAMA'S PROBLEM.
YOU CAN IMAGINE THAT SPARKED
REACTION FROM DEMOCRATS.
SENATOR REID SAID HE WAS
STUNNED BY THE STATEMENT.
TAKE A LISTEN.
>> ACTING LIKE ADULTS DOES NOT
MEANALKING OUT OF THE ROOM
EVERY TIME THE TALKS GET
SERIOUS.
REPUBLICANS HAVE DONE IT TIME
AND TIME AGAIN.
>> CONVENTIONAL WISDOM IS OVER
THE WEEKEND THERE WAS A DEAL
BETWEEN YOU AND THE PRESIDENT.
YOU WERE CLOSE.
YOU BLEW IT UP AND WALK
AY.
WHAT HAPPENED?
>> NO.
I SAID ON FRIDAY THAT WE WERE
NOT CLOSE.
THAT WE WERE IN CONVERSATIONS.
I MADE IT CLEAR WE WERE THIS
FAR APART ON FRIDAY.
ON SATURDAY WE WERE FURTHER
APART.
THAT IS WHEN I DECIDED THERE
WAS NO REAON FOR ME TO
CONTINUE TO BE IN TALKS.
THEY WERE NEVE SERIOUS ABUT
TAKING THE STRUCTURAL REFORMS
TO THE ENTITLEMENT ROGRAMS
THAT WILL PRESERVE THEM FOR
THE LONG-TERM.
THEY CONTINUE TO INSIST ON
ISING TAXES.
>> THE OTHER STORY LINE YOU
WERE READY TO MAK A DEAL ON
TAXES AND CAN'T CANTOR PULLED
YOU BACK.
WAS THERE DAYLIGHT BETWEEN YOU
AND E MAJORITY LEADER?
>> ERIC AND I HAVE BEEN IN THE
SAME PLACE ALL THE WAY
THROUG
WE WANT THE LARGEST POSSIBLE
INCREASES TO MAKE SURE
PROGRAMS ARE SUSTAINED FORHE
LONG-TERM.
SAVE SOCIAL SECURITY, SAVE
MEDICARE AND MEDICAID WITHOUT
RAISING TAXES ON THE VRY
PEOPLE THAT WE EXPECT TO
INVEST IN OUR ECONOMY AND
CREATE JOBS.
>> Bret: WHAT IS NEXT?
WHAT IF YU DON'T GET A DEAL?
>> I DON'T KNOW.
THIS IS HOW SERIOUS THIS IS.
THINK THE PRESIDENT
UNDERSTANDS HOW SERIOUS IT IS
AND SO DO MY COLLEAGUES.
I DON'T THINK WE CA MISS THE
OPPORTUNITY.
IT'S IMPORTANT FOR US TO DO
THIS.
IF YOU LOOK AT WHAT IS GOING
ON IN EUROPE RIGHT NO, THE
REASON THEY ARE HAVING
PROBLEMSHEY'RE HAVING THERE
IS THEY FEMALED TO TAKE THE
STEPS NECESSARY TO PUT THE
FISCAL HOUSE IN ORDER.
THAT IS WHAT AMERICA HAS TO DO
AND DO IT NOW.
>> Bret: STRAIGHT UP OR
DOWN, HOW MANY VOES CAN YOU
LOSE ON YOUR SIDE TO GET DEBT
CEILING INCREASED ISED?
>> IT DEPENDS THE PACKAGE PUT
TOGETHER AND HOW MUCH THE
MEMBERS KNOW ABOUT IT
NO WAY TO MAKE THE PREDICTION
ON ANY GIVEN SET OF
ASSUMPONS AT THIS POINT.
>> YOU LOST 59 IN THE
CONTINUING RESOLUTION.
IT SEEMS LIKE THERE IS MORE
THAN THAT NUMBER OPPOSED TO IT
NOW.
>> I WOULD AGREE.
THERE ARE A LOT OF MEMBERS WHO
DON'T BELIE RAISING THE DEBT
CEILING UNDER ANY
CIRCUMSTANCES.
>> IF THE DEAL DOES NOT HAVE
MAJOR SPENDING CUTS, NOT NOW,
NOT IN THE OUT YEARS OR DOES
NOT INCLUDE ENTITLEMENT REFORM
IN SOME WAY DO YOU RISK
ALIENATING A LARGE PORTION OF
THE REPUBLICAN VOTING BASE
THAT PUTS YOU I THIS
POSITION?
2010?
>> I DON'T THINK SUCH A
PROPOSAL COULD PASS THE HOUSE.
IN ANY WAY, SHAPE OR FORM.
YOU VE MEMBERS THAT WILL
NEVER VOTE TO RISE THE DEBT
CEILING AND A LARGE BLOC OF
MEMBERS WHO BELIEVE THIS
REALLY IS THE MOMENT TO PUT
THE FISCAL HOUSE IN ODER.
TO MAKE SURE WE TRANSFORM THE
ENTITLEMENT PROGRAMS SO
THEY'RE SURVIVABLE FOR THE
LONG-TERM.
THAT IS WHERETHE BLOC OF
VOTES ARE.
>> Bret: SO SENATOR
McCONNELL'S PLAN IN YOUR
ESTIMATION COULD NEVER PASS
THE HOUSE?
>> I DON'T KNOW THAT.
SENATOR McCONNELL SAID IT'S
A LOST-DITCH, BACKUP PLAN.
WHEN WE GET HERE A COUP OF
WEEKS FROM NOW WE MAY LOOK OR
IDEAS HOW TO MAKE SURE WE MEET
OUR OBLIGATIONS AS A COUNTRY
TOTHE DEBT THAT HAVE BEEN
PILED UP.
>> WHAT WOULD ***
DISRUPTION LOOK LIKE AFTER
AUGUST 2 IF THE DEALT CREELING
IS NOT ISE IN THE YO MIND?
WHAT WOULD IT LOOK LIKE?
>> NOBODY KNOWS WHAT WOULD
HAEN.
I DON'T BELIEVE ANBODY IN THE
WORLD BELIEVES THE UNITED
STATES WILL DEFLT ON OUR
DE.
NOBODY BELIEVES THAT.
BUT GIVEN WHAT IS GOING ON IN
EUROPE, SOMETHING COULD SPOOK
THE MARKET.
AND MISSING AUGUST 2 COULD
SPOOK THE MARKET.
THEN YOU COULD HAVE A REAL
CATASTROPHE.
NOBODY WANTS THAT TO HAPPEN.
L AY THIS.
AS DANGEROUS AS THAT, THAT MAY
BE, ISTILL THINK THIS IS THE
TIME TO DO THIS.
MAKING THE TOUGH DECISIONS
TODAY NOT KICKING THE CAN DOWN
THE ROAD IS THE RIGHT THING TO
DO FOR THE COUNTRY.
>> Bret: DO YOU BELIEVE, YOU
HAVE BEEN IN THESE BACDOOR
MEETINGS AND YOU HAVE SEEN
WHAT THE PRESIDENT SAID
PUBLICLY.
DO YOU BELIEVE HE IS BEING
HONEST BROKER?
>> I THINK THE PRESIDENT IS
TRYING, TRYING TO GET THERE.
BUT THEIR INANALYSIS STANCE ON
US RAISING TAXES IS CONTINUING
TO PREVENT US FROM TTING
THIS DONE.
AND HIS WILLINGNESS TO DO AS
MUCH ENTITLEMENT REFORM AS
POSSIBLE IN ORDER TO MAKE SURE
THAT THE PROGRAMS RE SOLID
AND SUSTAINABLE FOR THE NEXT
25 YEARS.
>> Bret: DO YOU TRUST HIM?
>> I DO.
>> Bret: MR. SPEAKER, THANK
YOU VERY MUCH.