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start to talk about the
debt-ceiling fight
which
and the sequester flight
and the continuing resolution fight which of course because congress has
refused to pass a budget all they do is a benzoate basically
pass a continuing resolution
to forward the existing budget
that uh...
having that we were i cannot perform for one day at this point
uh... with of course be automatic cuts that have been imposed which is
in other words abided
so uh... we hear off in the republican side
blue president obama's never passed a budget will of course we have the budget
it's just that uh... it's not been gone through the the traditional process
because republicans are so insane
and
all this
all the questions that are coming up in terms of the deficit
all the questions they may be coming up in terms of
the sequestered of fight
now understand that d
is on march first
there will be automatic cuts imposed
on
discretionary domestic spending
just about everything
aside from medicare medicaid and social security
and somewhere around uh... twelve percent across the board
reaching around five hundred six hundred billion dollars over the course of ten
years
i nearly equal amount
imposed on
defense spending
what we're going to see
on day one
or at least
starting on day one
in terms of domestic spending
will be cuts in government services that
virtually all americans use
on a daily basis
whether it's the f_a_a_ really
whether it's the f_d_a_ whether it's about uh... building infrastructure
these are
it is it will be pain and lack of services
most americans will feel very quickly
and as they start to realize that
it's going to take longer for pair plans to take off or safety will be traded off
that uh... food safety will diminish
amid on and on and off across the board
and
that's important to note
as we
enter into this period because we're gonna be hearing a lot more about it and
then the coming weeks and months
because
the fight is going to come down
in terms of of progressives
and liberals
and it turns of the deal the democrats uh... and that cutting
with the republicans
between
the idea of
pushing these cuts
into the future
on medicare and social security
in a way that is incredibly insidious in a way that has come up far less
accountability
and in critical in terms of political implications as opposed to
cuts that americans are gonna feel now and the other point two
what is happening in washington
to what is happening on a local level in terms of the services they expect
this is important
this is what the
the political fight is going to boil down to it
at least
amongst democrats
and amongst progressives and liberals
on the other hand the republicans
they don't want cuts to defense
because this is their bread and butter
the military industrial complex which is not to say that it's not
the bread
for democrats it's just not the bread and butter
or maybe it's just the butter for democrat
part of this
part of how this will shake out
as we start to hear of
republicans having to go on trust retreats with each other
god knows what they're doing on this retreat
uh...
but as they go on a retreat to plan their strategy in terms of dealing with
the debt ceiling
and the numbers coming out now in terms of polls
as to
the implications of
defaulting on our debt
and what it will do to the american economy what it will do to the world
economy
what it will do to government services
she is
not looking terribly good for republicans and so
what do you do when the
when you've promised it your base that you're going to vote one way and and the
rest of the country and your
your task masters on uh... wall street according to industry are telling you to
vote the other way well you don't trust a tree
and has spoken about
the misalignment
of incentives of
between
what you could called national republican leadership
and
members of congress
and this is why uh... and some people are speculating
that while we talk about
the threat of default
even though
the republican party
as a whole is getting a lot of pressure from places like wall street
from even
americans for prosperity the cook brother's back thing they were saying
the only thing is the ball thing is that ok
and we get it but uh... we're not really really want to do this
the capacities for these national groups
and these national constituencies
the big money
to influence
congressional republicans is diminish now on issues like this because
the republican base
who have
sent these
congressman
to the house
dave drug the company
they think of national that default is no big deal
uh... day think this is what we need to do because
well coming they're ignorant and they
they are
radical in some respects
and that's why you're going to see a split between
the
senate republicans on this issue and the house republicans
because the senate republicans still have to run
in states that have
um...
action say only a minority of fanatics
they cannot afforded
to be that far to the right now
many of them are afraid of getting primary
which is really the biggest threat
that a senate republican has
that they're going to get primary to the right because then you're only playing
on the playing field
of the lunatic fringe i_e_ the republican base
that is why you see people like todd eighteen and richard murdoch though down
in flames
at least in this cycle there was all there is in this cycle prior and so
the debt ceiling issue is
one in which uh... we could see
the republicans
centrally road
vote against now
there's a question as to whether or not
that so-called hasher rule will apply
it'll be an interesting litmus test to see if it's important but it's
seems impossible that
bone there will not bring this up for a vote in which case you'll get more
democrats who will
vote to raise the the debt ceiling limit but
we shall see have to say that i think president obama
based on his press conference on tuesday
is at the very least
indicating
the nation
remind everybody to trust what they're fine on the situation because
we've heard him say this before that is not negotiate on it and he's going to
wrap this around
the republicans next
if they actually plunge our economy into a
some type of catastrophic uh... avent
adds to the artery she will be talking about this war
or uh... in the weeks to come
but that will push the real debate
onto how to forestall
the sequestered the automatic cuts
that were imposed because of the last debt-ceiling fight
you'll recall the last debt-ceiling fight created the super committee that
was supposed to come up with a way of
closing uh... the deficit by one point two trillion dollars
or come up with uh... better want uh... cuts worth one point two trillion
dollars they couldn't
so this accord stir of
kicked in automatically
now it's quite possible
the deal could be just let's kick it down the they can down the road another
three months and then another three months
nana you know six months
year what not
there is
legitimate concern
the president will
take the posture that we must
negotiate with the republicans
to limit the
cuts to discretionary spending
do so by cutting
social security benefits
medicare benefits in one shape or another
that is going to be the big fight on the left
the leverage supposedly that republicans have is that we would be facing twelve
percent uh... domestic cuts across the board
be leveraged act
democrats have
is that republicans really don't want to cut defects
and so
those will will will be where the lines are drawn
but before
rare you know we
we will talk about that will play time to talk about that uh... in the coming
months
but uh... like i said i think is the hills reporting the house republican
leaders
are weighing some or all options for legislation that will combine an
increase in the debt ceiling with cuts the federal spending
as they uh...
attempt to color sister and a strategy at the annual house g_o_p_ retreat
which begins in wednesday uh... that would be yesterday
in williamsburg virginia
and uh... it remains to be seen what they're going to do
how they're going to approach this but there clearly on their heels right now
out