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THE DEADLINE IS CLOSER.
CONGRESS IS SCHEDULED TO BEGIN A
NINE DAY RECESS STARTING
FEBRUARY 18TH.
DEMOCRATS AND REPUBLICANS ARE
PLAYING THE BLAME GAME BUT CAN
THEY BATTED TOGETHER AND GET
SOMETHING DONE?
LED TASK IN AN EXCLUSIVE
INTERVIEW.
KAY BAILEY HUTCHISON, YOU THINK
WE WILL HAVE A DEAL?
>> I DO.
I THINK WE WILL COME UP WITH
SOME APPROACH THAT DOESN'T RATE
OUR SOCIAL SECURITY FUND WITH
THESE TAX CUTS.
WE NEED TO PAY FOR THEM SO THE
SOCIAL SECURITY FUND IS IN TAX.
CHERYL: YOU HAVE A PROPOSAL AND
I WILL ASK YOU ABOUT THAT BUT
LET ME ASK YOU WHAT HAPPENED
YESTERDAY WITH NEGOTIATIONS
BETWEEN REPUBLICANS AND
DEMOCRATS IN PARTICULAR THE GOP
PROPOSAL THAT WAS SHOT DOWN ON
THE HOUSE SIDE.
THEY WANT TO FREEZE FEDERAL
WORKER PAN AND INCREASE THE
MEDICARE PREMIUMS FOR THOSE --
$80,000 A YEAR.
MEDICARE IS ONE OF THE KEY
ISSUES OVER THE LAST TEN YEARS.
WHAT DO YOU THINK WENT WRONG?
>> WE ARE TRYING TO COME UP WITH
ALTERNATIVES TO RAISING TAXES ON
OUR MIDDLE-CLASS TAXPAYERS.
WE WANT THE PAYROLL TAX
REDUCTION TO GO THROUGH.
BUT WE DON'T WANT TO RAISE TAXES
ON PEOPLE WHO ARE HIRING AND
CREATING JOBS AND THAT IS ALL WE
ARE GETTING RIGHT NOW FOR THE
DEMOCRATS.
SOME OF THE REPUBLICANS PUT
TOGETHER A PLAN THAT WOULD
FREEZE FEDERAL SALARIES WHICH I
THINK IS REASONABLE.
WE WOULD ALL WELCOME A FREEZE IN
SALARIES.
WE HAVEN'T TAKEN A PAY INCREASE
OURSELVES IN SEVERAL YEARS NOR
SHOULD WE THINK ANYONE ELSE IN
THE CIVILIAN WORK FORCE SHOULD.
OUR MILITARY IS SEPARATE FROM
THAT.
I THINK THAT WAS A GOOD PROPOSAL
GOING FORWARD AND NOW WE'RE BACK
TO SQUARE ONE.
CHERYL: YOU MIGHT BE.
LET'S TALK ABOUT YOUR PROPOSAL.
YOU THINK IN PARTICULAR SOCIAL
SECURITY IS WHERE THE ADDRESSEES
TO COME AND YOU HAVE A PLAN THAT
WILL EXTEND THE RETIREMENT AGE
BUT IT WOULDN'T INCREASE TAXES.
HOW HAS THAT WORKED?
>> IT IS SO IMPORTANT THAT WE DO
SOMETHING THAT WON'T INCREASE
TAXES.
THE PAYROLL TAX.
WE DO NOT WANT TO INCREASE
THOSE.
WE THINK EXTENDING THE AGE AT
WHICH SOCIAL SECURITY KICKS AND
IT IS ONLY REASONABLE SINCE OUR
LIFE SPANS AND HEALTHY LIFE
SPANS HAVE INCREASED SINCE
SOCIAL SECURITY WAS PUT IN
PLACE.
MINE WOULD BE GRADUAL.
SOMEONE 58 YEARS OLD OR OLDER
WOULD NOT BE AFFECTED AT ALL BUT
AFTER THAT EVERY YEAR WE WOULD
EXTEND THE AGE AT WHICH YOU
COULD RETIRE BY THREE MONTHS.
THREE MONTHS EVERY YEAR AND BY
THE YEAR 2027 WE WOULD BE TO AGE
69.
CHERYL: ON MONDAY THE DALLAS
MORNING NEWS BASICALLY CALLED
YOUR PLAN REASONABLE.
A REASONABLE REQUEST TO DEAL
WITH ONE OF THE LARGEST VERSIONS
THE COUNTRY AND WHICH IS SOCIAL
SECURITY.
YOU HAD OTHER IDEAS THAT WERE
VERY INTERESTING YOU WANT TO
ELIMINATE THE DEATH TAX AND
LOWER CAPITAL GAINS.
ALL OF THESE WOULD BE IN COME
FRIENDLY FOR INVESTORS AND
AMERICANS OVERALL BUT YOU HAVE A
LOT OF PUSH BACK ON THOSE ISSUES
FROM THE DEMOCRATS.
WHY DO YOU THINK THAT IS?
>> I DON'T KNOW WHY THE
DEMOCRATS THINK YOU CAN TAX THE
ECONOMIC ENGINE OF AMERICA WHICH
IS THE PEOPLE WHO ARE CREATING
JOBS.
JOBS TO BE CREATING JOBS.
PUTTING TAXES AND THE OBAMA
HEALTH CARE SYSTEM AND MORE
REGULATION WHICH IS WHAT THIS
ADMINISTRATION IS DOING R AND
AESTHETICAL TO THAT.
WE CAN'T KEEP BURDENING BUSINESS
AND EXPECT THEM TO HIRE PEOPLE.
I DON'T KNOW WHY DEMOCRATS DON'T
UNDERSTAND THAT BUT I BELIEVE IF
WE CAN GET OUR ECONOMY STARTED
WE WILL INCREASE REVENUE BUT IT
WILL BE BECAUSE PEOPLE ARE
WORKING AND THAT IS THE WAY WE
SHOULD TRY TO INCREASE REVENUE.
CHERYL: ANOTHER ISSUE THAT IS
CLOSE TO YOUR HEART IS THE
NATION'S MILITARY SERVICE MEN
AND WOMEN.
40,000 CAME HOME AT THE END OF
DECEMBER AND JOBS HAVE BEEN A
BIG CONCERN FOR MANY OF THESE
VETERANS BECAUSE THERE ARE NOT
MANY JOBS OUT THERE.
WHAT DO WE NEED TO DO FOR THE
MILITARY TO GET THEM BACK TO
WORK?
>> GREAT QUESTION.
IT IS THOSE SAD THAT PEOPLE WHO
HAVE GIVEN UP SO MUCH.
THE GUARD AND RESERVE WHO ARE
COMING BACK.
THE JOBS ARE NOT THERE.
PEOPLE WHO ARE ACTUALLY BEING
ABLE TO LEAVE THE MILITARY AFTER
THEY SERVED THEIR TIME.
I JUST THINK IT IS SO SAD THAT
WE ARE NOT FOCUSING ON CREATING
JOBS SO THAT THEY WILL BE THERE
AND GIVING THEM--THE KEYSTONE
PIPELINE WOULD HAVE CREATED
HUNDREDS OF THOUSANDS OF JOBS
IMMEDIATELY WHICH WOULD HAVE
GIVEN VETERANS PREFERENCES FOR
THOSE JABS AND WOULD BE A WIN
FOR EVERYONE BUT THE PRESIDENT
SAID NO.
WE CAN'T DO IT FOR REASONS THAT
DON'T HOLD WATER BECAUSE ALL THE
ENVIRONMENTAL PROTECTIONS HAVE
BEEN PUT IN PLACE FOR THE