| 00:00:49 |
Unidentified Speaker, -
THIS IS EXACTLY WHAT REID AND OBAMA AND WOLF SAID LAST SPRING WHEN WE WERE COMING UP WITH THE $2.50 TRILLION IN SPENDING CUTS. PRESIDENT OBAMA WON A...
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| 00:02:18 |
Unidentified Speaker, -
THERE'S THE ARGUMENT THAT THE ONLY WAY TO ACHIEVE REAL SAVINGS FOR THIS GRAND BARGAIN BUT THERE WOULD BE MULTI-TRILLION DOLLARS IN SAVINGS WOULD BE THROUGH...
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| 00:02:49 |
Unidentified Speaker, -
OF THE MODERN DEMOCRATIC PARTY. THAT IS WHAT THEY SET IN 1982 AND 1990. THE ONLY WOULD IT HELP THE ECONOMY IS BIG DEFICIT REDUCTION. WHEN DEMOCRATS...
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| 00:04:07 |
Unidentified Speaker, -
OF PEOPLE GENERALLY WHEN THEY THINK ABOUT THE 1990'S AND CLINTON ADMINISTRATION HAVE A FAVORABLE VIEW OF THE SURPLUSES THAT WERE THERE AFTER THE DEAL...
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| 00:05:35 |
Unidentified Speaker, -
INCREASES WERE SPECIFICALLY WALLED OFF TOWARD DEFICIT REDUCTION? THAT IS IT, THERE CAN BE NO NEW SPENDING AND YOU TOOK THE TAX INCREASES TO HELP ACHIEVE...
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| 00:05:47 |
Unidentified Speaker, -
PUT IT INTO A LOCK BOX? THE REASON IS NOT JUST BECAUSE HE SAID LOCKBOX IN AN AWKWARD, BUT BECAUSE EVERYBODY KNOWS IF YOU LOCK BOX, YOU HIDE IT SOMEWHERE...
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| 00:06:23 |
HOST, -
ON THE SAME THOUGHT, THERE ARE 40 GOP HOUSE MEMBERS WHO HAVE SAID THEY WANT THE COMMITTEE TO LOOK BIG. THE PANEL HAS NOW SAID TO HUNDRED $50 BILLION...
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| 00:06:40 |
Unidentified Speaker, -
NO. AGAIN, WE WENT THROUGH ALL OF THIS. ALL THE SAME, APPROACHES. 40 REPUBLICANS SIGNED A BILL SAYING WE SHOULD HAVE A $4 TRILLION REDUCTION IN DEBT....
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| 00:09:55 |
Unidentified Speaker, -
THE MODERN DEMOCRATIC PARTY HAS MADE IT CLEAR THAT WHAT $1 TRILLION IN TAX INCREASES. THEY WANT THE SPENDING CUTS TO BE COMPLETELY FUNDED AND THE 1 $1...
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| 00:10:36 |
Unidentified Speaker, -
THE FINAL DEAL AND LOTS OF REPUBLICANS VOTED ON IT, THAT WOULD BE A TAX INCREASE IN YOUR MIND. COULD YOU SUPPORT THE DEAL IF IT IS THE ONE THAT CAME...
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| 00:10:56 |
Unidentified Speaker, -
IDEA OF TAX REFORM? >> 1986, REDUCING
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| 00:10:59 |
Unidentified Speaker, -
MARGINAL TAX RATES, BROADENING THE BASE, REVENUE NEUTRAL. WHAT RICK PERRY PUT FORWARD I THINK IS A VERY FINE MODEL -- >> THE FLAT TAX PLAN? >> 20% SINGLE...
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| 00:11:12 |
Unidentified Speaker, -
TAX ON COMPANIES AND INDIVIDUALS. ONE OF THE THINGS THAT I NEED TO REMEMBER AND THAT IS IMPORTANT FOR CONGRESS TO REMEMBER IS THAT THERE HAS BEEN A...
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| 00:13:18 |
Unidentified Speaker, -
9- 9-9 PLAN? WOULD YOU APPROVE ANY PART OF THAT? >> I COMMEND
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| 00:13:26 |
Unidentified Speaker, -
HERMAN CAIN FOR TWO PIECES OF HIS PROGRAM. ONE, HIS OBSERVATION THAT THE PRESIDENT WAS A SYSTEM IS REDISTRIBUTIONIST, THE PRESENT SYSTEM IS TOO HIGH....
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| 00:15:32 |
Unidentified Speaker, -
10 MINUTES. THERE ARE A TWO PARTS TO THE PLEDGE. CAN YOU EXPLAIN IT? >> IT WAS DESIGNED IN
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| 00:15:42 |
Unidentified Speaker, -
1986. IT SAYS DO NOT RAISE RATES. IF YOU ARE GOING TO BROADEN THE BASE, DO SO BY BRINGING RATES DOWN. THERE ARE TWO WAYS TO RAISE THE INCOME TAX. RAISING...
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| 00:16:58 |
Unidentified Speaker, -
WE WERE TALKING ABOUT THIS PENDING SUPER COMMITTEE DEAL. I HAVE HEARD REPUBLICAN LEADERSHIP TALK ABOUT PERHAPS AGREEING TO WHAT WE CALL CLOSING TAX...
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| 00:17:47 |
Unidentified Speaker, -
AND WOULD RAISE REVENUE, IT WOULD RAISE TAXES. I HAVE TALKED TO LEADERSHIP AND MEMBERS, AND THEY'RE TALKING ABOUT BRINGING RATES DOWN DRAMATICALLY,...
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| 00:18:16 |
Unidentified Speaker, -
IS WONDERING WHAT WILL HAPPEN WITH THE BUSH TAX INCREASES. THE POTENTIAL FOR THOSE TO COME BACK INTO PLAY. IT EXPIRES AT THE END OF THE YEAR. EVERYONE'S...
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| 00:18:39 |
Unidentified Speaker, -
LAW, THEY EXPIRE NOW, BUT UNDER PRESENT POLICY, THEY ARE THE POLICY. THERE ARE SOME TAX CUTS OR INCREASES THAT REPEAL SO OFTEN THAT THEY ARE POLICY. THE...
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| 00:19:14 |
Unidentified Speaker, -
IF THOSE MEMBERS APPROVE OF LETTING THOSE EXPIRE, WOULD THAT BE CONSIDERED A VOTE FOR A TAX INCREASE, THEN. >> IF THERE WAS A
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| 00:19:21 |
Unidentified Speaker, -
VOTE TO CONTINUE THEM AND SOMEONE VOTED AGAINST CONTINUING THE, THAT WOULD BE A VOTE. >> WHAT IS
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| 00:19:26 |
Unidentified Speaker, -
THE SUPER COMMITTEE LETS THEM EXPIRE? >> IF THE SUPERCOMMITTEE --
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| 00:19:33 |
Unidentified Speaker, -
THE SUPERCOMMITTEE IS NOT GOING BE IN A POSITION OF VOTING ON THOSE EXCEPT POSSIBLY MAKE THEM PERMANENT, WHICH WAS ONE OF THE INTERESTING QUESTIONS....
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| 00:19:48 |
Unidentified Speaker, -
IF NO DEAL IS REACHED, THAT WOULD BE ACROSS THE BOARD CUTS, WHICH WOULD BE PRETTY TOUGH FOR THE DEFENSE. THERE ARE SOME ON THE RIGHT MORE HAWKISH FOLKS...
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| 00:20:08 |
Unidentified Speaker, -
THE ONLY PERSON I HAVE HEARD SAY THAT IS MCKEON IN CHARGE OF THE SPENDING FOR THE MILITARY. I HAVE SAT DOWN AND TALK WITH HIM ON THIS. ONE OF THE FEW...
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| 00:21:52 |
Unidentified Speaker, -
WHEN YOU HEAR SOMEONE SAY SOMETHING ON THE HOUSE FLOOR AND SET IT SOUNDS LIKE A TAX INCREASE, ARE YOU PICKING UP THE PHONE, HEADING TO CAPITOL HILL RIGHT...
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| 00:22:08 |
Unidentified Speaker, -
YES, AND NOW. NOW, IT IS MORE E-MAIL. PRESS CALLS, IT COMES UP FROM TIME TO TIME. SOMEONE WILL SAY SOMETHING, AND THE PRESS WILL SAY WE THOUGHT IT WAS...
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| 00:23:14 |
Unidentified Speaker, -
TO MEMBERS OF THE SUPER COMMITTEE? >> I HAVE
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| 00:23:16 |
Unidentified Speaker, -
BEEN OVER THE LAST SEVERAL WEEKS, SURE. >> WHAT ARE YOU SAYING TO THEM? >> URGING THEM NOT TO DO A
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| 00:23:23 |
Unidentified Speaker, -
NET TAX INCREASE AND TO INSTEAD FOCUS ON SPENDING RESTRAINT. RECOGNIZING THAT THERE ARE ONLY SIX REPUBLICANS THERE, AND ALL OF THEM HAVE TAKEN THE PLEDGE...
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| 00:24:13 |
Unidentified Speaker, -
OF WHAT THE SIX ARE SAYING PART OF WHY YOU'RE SLEEPING WELL AT NIGHT? ARE YOU HEARING WHAT YOU WANT TO HEAR FROM THEM? >> WE TALK
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| 00:24:20 |
Unidentified Speaker, -
TO EVERYBODY AT THE LEADERSHIP. ANYTHING THAT COMES OUT OF THE COMMITTEE HAS TO GO BEFORE THE ENTIRE REPUBLICAN HOUSE AND THE SENATE AS WELL. THERE WILL...
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| 00:24:42 |
Unidentified Speaker, -
FOR YOU -- A LOT HAS BEEN MADE OF THE SUPERCOMMITTEE MEETING BEHIND CLOSED DOORS, NOT HAVING A LOT OF PUBLIC HEARINGS, NOT TALKING TO REPORTERS ABOUT...
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| 00:24:56 |
Unidentified Speaker, -
OF MY INFORMATION FROM REPORTERS THEY DO TALK TO. BUT ALSO SPEAKING TO REPUBLICANS IN THE HOUSE AND SENATE, AND I HAVE SPOKEN TO DEMOCRATS ON THE COMMITTEE...
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| 00:26:06 |
Unidentified Speaker, -
WE HAVE TO LEAVE IT THERE. THANK YOU FOR BEING ON "NEWSMAKERS." >>
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| 00:26:12 |
Unidentified Speaker, -
WE ARE BACK WITH OUR REPORTERS. SUSAN, WHAT DID YOU HEAR UP THERE FROM GROVER NORQUIST? >>
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| 00:26:23 |
Unidentified Speaker, -
SUPER COMMITTEE AND POSSIBILITY OF A DEAL. HE IS REITERATING THE IMPORTANCE OF THE PLEDGE, AND IT REALLY IS PLAYING A BIG ROLE OF WHATEVER DEAL COMES...
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| 00:27:24 |
Unidentified Speaker, -
TAXES? YOU COULD, BUT WHAT I THINK IS INTERESTING NOW IS THAT THE GOP ORIGINALLY SAID THAT THEY PUT REVENUES ON THE TABLE SET FOR A SMALLER DEAL, AND...
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| 00:27:48 |
Unidentified Speaker, -
AND THEY HAVE SIGNED THIS PLEDGE. >> THERE DOES NEED TO BE
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| 00:27:52 |
Unidentified Speaker, -
SORT OF IN THE RANK-AND-FILE SIMPLE TO DO NOT SEEM TO BE DOWN BY THE PLEDGE OR SAY THEY ARE NOT. THERE'S NOT MUCH INDICATION THAT THAT IS GOING ARISE....
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| 00:29:00 |
Unidentified Speaker, -
WILL HAVE TO LEAVE IT THERE. THANK YOU BOTH. APPRECIATE IT. [CAPTIONING PERFORMED BY NATIONAL CAPTIONING INSTITUTE] [CAPTIONS COPYRIGHT NATIONAL CABLE...
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| 00:29:11 |
Unidentified Speaker, -
SERIES "THE CONTENDERS"
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.