. >> well, you mentioned bowles simpson, sir, and you voted against that. >> i like that part of bowlesimpson, but you talked a good game, but you don't deliver the goods. what do you-- >> no, here is what people do. if you don't like the plan that someone's put on the table. put your plan on the table and pass that budget through congress, and mitt romney offered a plan, president obama hasn't done any of that. he disavowed bowles simpson and offered all the it i haves -- alternative plans. the even bowles simpson, it didn't address the primary driver of our debt. health care programs. starting going bankrupt. i don't want a pass a bill to fix the fiscal crisis when i know it doesn't fix the fiscal crisis. >> neil: he's saying it didn't go far enough. charles payne, ben stein, dagen mcdowell and adam lashinsky and charlie gasperino. >> i think it was a good place to start, to ryan's point, it was with respect to social security or medical spending, you know, and the ideal spending cap. if we adhere to spending caps we wouldn't be in this position in the first place, so i take his point

and simpson bowles was. >> i disagree, my friend. if you get more of those people saying, i'm not going to have to pay a lot. and 8 out of 10 americans are for all americans putting some skin in the game. so, don't think you've got to-- >> and we're probably as well, but you don't have to get on your liberal high horse about that, but i'm saying the fact of the matter is it's out of control, that's all i'm saying, out of control. we're going to take a break and when we come back, it used to be that. >> i love that idea of watching someone become an activist, so many of the issues that are important to me, like want to get to my knees and thank them. >> anyway, even the star of the latest fox movie "won't back down", well, we'll be covering the upcoming presidential debates, and the president and vice-president, and this wednesday, colorado, hollywood stars are all over it and why not i'm covering it. continues on fox business network, and each night, 8 p.m. eastern time right through midnight, so. get fired up. >> you go crazy with y

interviews we will talk to former republican senator a senator and he was the co-chair of the simpson bowles commission alan simpson about the facts and how he proposes to fix the deficit and the august u.s. housing starts number came in below analyst expectations today while mortgage lending declined to its lowest level in sixteen years for two thousand and eleven according to a report from federal regulators also fed ex which is an economic bellwether its global growth forecast i could go on the point is this is all more evidence the u.s. economy and any kind of we're covering his slow going at best so how do you sell us deficit reduction as a top priority in this environment plus the u.k. city of bristol launches its own currency and it reportedly is off to a pretty solid start as the u.k.'s largest alternative to sterling will talk alternative currencies and loose change let's get to today's capital account. so simpson bowles in two thousand and ten it was the bipartisan deficit commission president barack obama created who is moment of truth report was a proposal to reduce the us budget

i'm skeptical. >> i have one question about simpson/bowles. president obama says tonight he's embracing the principles of simpson/bowles, where was he years ago when he could have endorsed that plan and through his leadership accomplish that plan where we could have reduced deficits earlier? >> carly, he almost negotiated that deal -- no, no, no, he -- president obama -- >> what do you mean no, no, no? >> because you're wrong. okay? president obama and john boehner, president obama and john boehner came very, very close to achieving a deal on the basis of simpson/bowles. they almost did it, but there was resistance among republicans in the congress to any more revenue so the deal didn't happen. so to say he hasn't embraced it, no, he did not embrace all the specifics. nobody has, not mitt romney, not paul ryan who voted against it. they almost negotiated a deal. >> go ahead, greg. >> can i make one point? >> please do. >> i think carly is right. carly is right. there are a lot of issues that should have been addressed and weren't. there's thre

simpson-bowles, bowles-simpson.he commission put together by president obama to find a solution to the country's fiscal problems containing a mix of spending cuts and tax increases designed to reduce the budget deficit to 2.2% of gdp. everyone praised it and then everyone ran away from it. two congressmen stepped up and introduced a plan in the house. >> this is the only bipartisan way to solve the nation's problems. this is the only budget that has a chance of getting through both the house and the senate. >> we have been viciously attacked from the left and the right and when you know you have a good deal is when the left and the right are pounding the snot out of you. >> well, their efforts got them a total of 38 votes including themselves. joining me now are the two congressman who introduced the simpson-bowles based budget. j 38 votes. 38 votes. congressman cooper, how frustrating was that moment? i remember when you introduced it. i thought for sure there would be 80. i think we knew it wouldn't pass. what hap

hence, the name, simpson-bowles.ything, everything on the table and the result was a truly bipartisan plan to reduce america's debt by $4 trillion over ten years through spending cuts and tax reform. now you can see that green line is sort of where our debt is going over the next decades to come. and if the commission's proposals are followed, that is the blue line. that's what would have happened. under the six-step plan, federal workers would have been subject to a three-year pay freeze and the commission would also reduce the oversaul size of the government workforce through attrition. the comprehensive tax plan involved would lower personal income and corporate tax rates while broadening the base of people who pay taxes. capital gains and dividends would be taxed as ordinary income. now back door government spending for certain industries would also be removed. things like the government subsidies for the ethanol industry. a portion of the money raised there would go directly to paying down long-term debt. now as

those security and he did it he tried and it didn't quite work so says let's talk about some some bowles simpson bowles everybody. crazy of the media when people talk about the simpson bowles commission recommendation there were no commission recommendations can you that was part of that a little bit there were co-chairs this was a commission that was set up by president obama and if we had was it was actually eighteen i mean if they if they were but if they had received those kind of supermajority their proposal would have gone to congress what they proposed for social security was the overall budget deficit and of course we argued social security shouldn't be part of that because it doesn't add to the doubt but they they would have decimated social security and that's not hyperbolic to say that they really would have destroyed. over a number of you knows that is one of the reasons why jan schakowsky just basically she refused to vote for it the president and other leading democrats have very obliquely talked about praised the bowles simpson proposal after after the the whole larger suggestions

that part of bowls simpson. the critics say you talk a good game and you don't deliver the goods. what do you say? >> will paul ryan's answer be to fix it. free checking and check it out because of reforms meant to proteche fox news channel, it's america's election headquarters. keep it right here. >> goodbye free, hello fees. the new report showing more banks ditching free checking accounts, costly financial reforms supposed to protect consumers, kyle, you say it's going to get worse for consumers, how so. >> the current administration, brenda, with the dodd frank regulatory environment here alive and well, has increased the regulatory costs to these banks in order to remain and continue solvent and guess who they're going to pass the costs on to? the consumer. no more free checking, you're going to be charged for your checking accounts. >> now, now, free checking accounts, they're not exactly a birth right, are they. >> brenda: i don't see him in the constitution. >> no, they're not. and you know what, good ri

i think bowles-simpson most of the people who say we should just have done bowles-simpson oftentimes they haven't looked in detail in what's in bowl bowles-simpson. they are talking about raising the tax rate on capital gains. top rates come down a little bit but the capital gains rate goes all the way to ordinary income, and bowles-simpson does raise taxes on the middle class. if the president explicitly done that republicans would not have met him and said hey that's a great starting point why don't we agree. they would have said -- >> doug you get the last word. >> i think it's right that not everyone would have loved that as the final product. it was the right starting point. it was the only vehicle that said we had a big problem. the problem is largely spending. all spending. if you want more revenue get serious about tax reform. >> got to leave it there. thank you austin, doug. coming up on kudlow, the party may be over for profits. front page of the "new york times" today. that is unless you're the golden apple. that stock hit 700 bucks for the first time ever. we go on the pat

senator who was co-chair of president obama's simpson bowles fiscal commission alan simpson himself so first thank you so much for being on the show today senator it's a pleasure to the northwest college which you're wonderful and i was on the border for. all right all right and we're happy that they hosted you to do this interview now let's talk simpson bowles because i have to say senator simpson after reading it i can understand why it didn't get very far in washington at least in this political climate there is literally something for every special interest to hate a sacred cow if you will defense spending is on the table in title meant an overhaul of the tax code do you think there was ever a time or a congress or a president when this plan would have been taken up. i have no idea but they'll kick the can down the road forever so you know what's new finally it's throw something out and then they play their little game last august a year ago and put together a sequestered that was supposed to turf them that's a six hundred billion dollars shop with no common sense to it on defense

that part of bowls simpson. the critics say you talk a good game and you don't deliver the goods. what do you say? >> will paul ryan's answer be to fix it. free checking and check it out because of reforms meant to protect consumers are checking in. we explain and you decide. 6. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. [♪...] >> announcer: with nothing but his computer, an identity thief is able to use your information to open a bank account in order to make your money his money. [whoosh, clang] you need lifelock, the only identity theft p

go to it if you want more information on the simpson/bowles plan or if you would like to sign senator petition calling on congress to pass a comprehensive long-term plan by july 4th, 2013. while you're online, visit cnn's america's debt challenge page to see the coverage of this critical issue. >>> next, former labor second robert reich says the gop's economic plan is a disaster that will actually cost millions of jobs, not create them. you know why i sell tools? tools are uncomplicated. nothing complicated about a pair of 10 inch hose clamp pliers. you know what's complicated? shipping. shipping's complicated. not really. with priority mail flat rate boxes from the postal service shipping's easy. if it fits, it ships anywhere in the country for a low flat rate. that's not complicated. no. come on. how about... a handshake. alright. priority mail flat rate boxes. starting at just $5.15. only from the postal service. ari'm fine.y, babe? ♪ ♪ ♪ with a subaru you can always find a way. announcer: love. it's what makes a subaru, a subaru. >>> mitt romney has not provided much detail for hi

the reason our side rejects bowles-simpson -- we bleve there are good things in bowles-simpson, i do look forward to working with the gentleman and seeing if we can work together, cooperative fashion, to get some results and resolve this cloud hanging over the economy. i'm looking forward to that. but bowles-simpson, number one, is not this so-called balanced approach unless you say, $1.22 in taxes, new taxes, with $1 in cuts, is balanced. we don't believe so. because we believe it has a detrimental impact on the growth of the economy. we also believe the bowles-simpson revenue target of 20% of g.d.p. is the highest target, and something that is ex-- exceeds that which we have been at pretty much over the last 70-some years for three years. we believe that is too much ofal revenue flow into washington for washington to make the decisions. we've got an issue there about the amount of taxes and the size of government. totally legitimate discussion point, yes, but an issue. it's not just rejection out of hand. like the minority leader and the president have said. they reject that. we sa

the reason our side rejects bowles-simpson -- we bleve there are good things in bowles-simpson, i do look forward to working with the gentleman and seeing if we can work together, cooperative fashion, to get some results and resolve this cloud hanging over the economy. i'm looking forward to that. but bowles-simpson, number one, is not this so-called balanced approach unless you say, $1.22 in taxes, new taxes, with $1 in cuts, is balanced. we don't believe so. because we believe it has a detrimental impact on the growth of the economy. we also believe the bowles-simpson revenue target of 20% of g.d.p. is the highest target, and something that is ex-- exceeds that which we have been at pretty much over the last 70-some years for three years. we believe that is too much ofal revenue flow into washington for washington to make the decisions. we've got an issue there about the amount of taxes and the size of government. totally legitimate discussion point, yes, but an issue. it's not just rejection out of hand. like the minority leader and the president have said. they reject that. we sa

this week the two men who tried to tackle the fiscal crisis last year, simpson-bowles plan is back in the decision 2012 spotlight now. welcome both. it's like going to the mall with justin bieber hanging out with the two of you. but senator, there's something to that, you go around the country and talk in great detail about what you proposed. what is the reaction you get? >> people are thirsting for somebody not to give them bs and mush and erskine and i gave them numbers. we don't have power point or charts, we just tell you where your country is. the trajectory of debt and deficit and interest is as same as portugal, iraq, iran -- greece. >> poland is still in -- i won't go -- but it's sad and we take questions. we don't filter the questions. they can ask anything they want. they can be from aarp, seniors, teachers and they'll give us a standing ovation, thirsting for somebody to tell them the truth where their country is going. >> republican and democrat do that who really care about each other. >> you don't think we're getting that in this debate in this campaign season? >> i don'

he disavoided simpson-bowles and offered no alternate. we took what we liked in simpson-bowles and added more reforms. i didn't support simpson-bowles is because it didn't address the primary driver of our debt which is health care programs. health carry entitlements going bankrupt. i don't want to pass a bill to fix the fiscal crisis when i know it doesn't fits the fiscal crisis. that is why we took the good ideas and combined with necessary reforms that prevented that crisis. that is what mitt romney and i propose. we need three things: pro growth economic policies. that is what regulation and energy policy is about. spending cuts. we prepared lots different spending cuts. also, critical entitlement reforms that are market based that give people more control over their lives. it doesn't make changes for people in or near retirement but reforms programs if my generation so they are this for my generation when we retire. that is how you get ahead of the problem and prevent european-like austerity. >>neil: a lot of this reminds me of europe

that part of bowls simpson. the critics say you talk a good game and you don't deliver the goods. what do you say? >> will paul ryan's answer be to fix it. free checking and check it out because of reforms meant to protec i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] wells fargo. together we'll go far. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay ale... but feel alive. the new c class is n

in bowles/simpson, which the president has been accused of not supporting, his members of bowles/simpsons. in the senate, five of the six representatives voted for bowles/simpson. the house representatives, five of the six voted against it, including paul ryan. so, you know, the problem wasn't the president's representatives. the problem wasn't the representatives of the senate, the republicans and democrats, the problem was the house republicans and democrats. >> so jeff greenfield, you have the house republicans passing budgets that the democrats and the senate and the president immediately eviscerate, paul ryan passes a medicare plan that's immediately demagogued. on the senate side, you've got the president's debt commission that republicans and the house won't endorse. seems like we're headed towards that fiscal cliff and we're all going to fall off. i hope you have parasails on. >> they create the doomsday device which is going to blow up the entire world because nobody could conceivably ever trigger it. but of course, the movie ends with it being triggered. and one of the things i

how about asking the man who commissioned simpson-bowles how he feels about simpson-bowles? and, you know, he won't answer the question. but he puts out a nice two-minute ad that says he's going to reduce the debt by $4 trillion but never tells us how. he's going to create a million manufacturing jobs but never tells us how. the fact of the matter is, david, when i hear you talk about mitt romney, i think you're talking about president obama. >> i want to end with this. as you know, political reviews are tough things sometimes, and there was a tough review for you as the keynoter at the republican convention. this was from politico, john harris and tim mack in reviewing your speech. the headline, christie delivers a primetime dud. they write, there's no mistaking what a successful keynote speech for chris christie would have looked and sounded like. there would have been an electric reaction from the crowd in the convention hall. it would have been followed by waves of effusive media commentary about how people had just heard the future of the republican party. there is no m

for us to get a hold of our budget issues, behave better, you've been a long time proponent of simpson-bowlesan idea from sam nunn, he said maybe what they can do is kick the can down the road six months but substitute in a simpson-bowles or a rivl - rivlin-domenici plan. >> i like that idea. as we approach this fiscal cliff which is real and i've said many times a potential disaster or a potential opportunity, and if playing with the debt ceiling the way they did was playing with fire, this is playing with nitroglycerin. they need to understand that and there's a series of outcomes, one let the fiscal cliff happy i truly believe is a disaster and create a recession worse than what the cbo predicts. i'm not an economist but when i see how things feel out there it's not good. second alternative kick the can down the road so the cliff doesn't happen but the uncertainty lingers because you have no idea what's going to happen. the best outcome would be they actually solve it in this lame duck session but i agree with sam that's impossible. they can't do that. you say what's in between where i can

the only difference between the president's plan to reduce the deches and simpson-bowles is he doesn't raise taxes on the middle class upon. he races it on the top 2% of america and he doesn't cut defense to the level that he did does. simpson-bowles is a balanced approach. in the ryan plan, they just cut $4 trillion and want to give a $5 trillion tax cut to the upper income. >> you also have no partner. we can't balance the budget with no revenue. and both mitt romney and his running mate have said they will offer zero revenue. >> ifill: let me ask you this, mayor reed and mayor parker. this is a convention where everyone is talk about an election. everyone is talking about battleground state. your state is not one. your state is not one. your state is not one. how do you know your priorities are even being heard in an election like this, mayor parker? >> again, cities are functioning very well at a very high level. people continue to move to cities. cities are where you go to find a job, to find an education and build your own future. cities are thriving with or without help from the

he put simpson/bowles in place. he said the framework of simpson/bowles is extraordinary. congressman ryan didn't vote for it when hifs he was on the deficit commission. the president last summer made a very bold effort working with speaker boehner to try to come up with a grand bargain. he pushed it very hard. he was very disappointed that he wasn't able to get the republicans to agree to even a penny of revenue. simpson/bowles has even more revenue than the president was proposing. we couldn't get them to go along with the grand bargain. how are we going to get them to go along with simpson/bowles? the president, of course, is willing to work with the republicans. this is an issue that's very important for our generation, our children's generation, our grandchildren's generation. we have got to get our fiscal house in order. the president is absolutely committed to doing that. >> your reaction to bill clinton's speech? >> oh, my gosh. it was extraordinary. president clinton, his ability, his oratory ability really making a very strong case for the president. and putting

the reason our side rejects bowles-simpson -- we bleve there are good things in bowles-simpson, i do look forward to working with the gentleman and seeing if we can work together, cooperative fashion, to get some results and resolve this cloud hanging over the economy. i'm looking forward to that. but bowles-simpson, number one, is not this so-called balanced approach unless you say, $1.22 in taxes, new taxes, with $1 in cuts, is balanced. we don't believe so. because we believe it has a detrimental impact on the growth of the economy. we also believe the bowles-simpson revenue target of 20% of g.d.p. is the highest target, and something that is ex-- exceeds that which we have been at pretty much over the last 70-some years for three years. we believe that is too much ofal revenue flow into washington for washington to make the decisions. we've got an issue there about the amount of taxes and the size of government. totally legitimate discussion point, yes, but an issue. it's not just rejection out of hand. like the minority leader and the president have said. they reject that. we sa

bowles. >> simpson-bowles... the only numbers in simpson-bowles that are clear apart from the page numbers are that it wants to take 18.5% of g.d.p., present rate of full employment tax up to 21%. that over the next ten years is a $5 trillion tax increase. $5 trillion tax increase. the spending restraint in simpson-bowles is wren in haiku. it's not terribly clear. >> rose: but it was clear enough for some republicans to support. and the objection of congressman ryan supporting it was limited. >> congressman ryan... >> rose: he supported a lot of it. >> oh, i support all of the conversation about the spending cuts in simpson-bowles. >> rose: and the tax reforms you supportd? >> as long as the rates reduced so that it's revenue neutral. but they wanted to have tax reform that would be a trojan horse for $5 trillion in higher taxes. that was a big no-no. that was not going anywhere and the reason why they've never written simpson-bowles down in legislative language is that it would become clear to republicans and the

will there be any movement with by the president toward a simpson-bowles compromise? will he take the lead to try to do that or let it hang out there for a while. >> not before election day. he thinks he'll get a simpson bowles like deal after winning re-election where he thinks he'll face a chastened republican party having lost the house and the senate. chris: the president believe he is can beat what he thinks is a right-leaning party this november. what he considers the grownup the jeb bushes and other moderate republican conservatives will come back and he'll be able to deal with them. >> the -- he tells woodward boehner would have had a deal the he'd had the backing of his party. he said whereon would cut a deal with me, but he can't. >> obama said if wins the election, mitch mcconnel will change from the party of no, to a party of maybe. chris: some see parallels between this year and 2004 when bush 43 was another president who excited strong opposition from the other side. there are plenty of unlikely parallels between bush's opponent john kerry and mitt romney

paul ryan accused the president of not using the bowles simpson reports seriously.n ryan voted against it. and for his part, president obama said that he thought the bowles simpson approach was a good idea, but the problem is, he never said anything about it after the commission fell apart. so everybody had some dirty hands on that deal, no question about it. >> it would be nice to have a fact checker on the stage as they're delivering their peach speeches. this is actually the most interesting part of the convention, now is the real fun stuff. >> what conventions? that was history. now the voters get to look at how the candidates respond under pressure. these candidates will be repaired, they'll have pat answers for a lot of the questions. but if either of them commits a gaff, as close as this race could be, it's just enough time to reframe the -- >> we'll be seeing a lot of you in the next 6 days. >>> nearly a half a million people have now been affected by the earthquakes that rocked southeastern china today. the first truck the remote mountainous area at about 1

the simpso simpson-bowles recommendation? >> i think the simpson-bowles stuff might.n awareness of debt and where we are as a country in terms of the debt and deficits i have never seen as long as i've been covering politics. there is a level of concern, i would say alarm that is unlike anything i've seen. it's always the second most cited issue when you ask voters what are you concerned about. in some places like swing state, iowa, the top issue. i think when the president tries to own simpson-bowles and distance himself from its recommendations, it does, it does look sneaky. i think just to follow up on the point that charles made. if you want to talk about audacity, the president has night as its remits to taxes once again made a pitch to raise taxes on the wealthy. they restated the position today, the white house did. it is important to remember the president himself has twice said on videotape that raising taxes in a downturn will hurt the economy. including raising taxes on the rich in a downturn will hurt the economy. he is on video saying that. so i would say

deficit so needless to say it didn't get very far in washington but we will speak with one part of simpson bowles in just a few minutes we have former senator alan simpson to tell us why this plan is still so important today and why it's not getting anywhere now more and i mean it might have been a few years ago but this is something that seems to be referred to time and time again by lawmakers battling it out talking about financial regulation and you know all those decisions that they like to fight over thanks so much lauren. that's going to do it for us for now but for more on the stories we covered go to youtube dot com slash r t america or check out our website r c dot com slash usa. culture is that so much a given to give each visit a share of the final touch the defense has the time to leave should the protests then even violence in the arab middle east against the usa make washington completely rethink. plumber mission and free accreditation free zones for judges free. range lunch free. three stooges free. download free broadcast quality video for your media projects a free media old dog

here is what he said about the simpson-bowles debt commission. this is again paul ryan skating around the truth. >> he created a new bipartisan debt commission. they came back with an urgent report. he thanked them, sent them on their way, and then did exactly nothing. >> "they, they," the commission. he was on the commission. the fact he leaves out is he actually sat on the commission. paul ryan, that guy there, and voted against his final urgent report and many believed helped bring it all down despite dick durbin voting for it. here's a guy who's able to go in front of the national audience debuting himself and presents himself as someone who isn't at all responsible for the failure of simpson-bowles blasting the president, ignoring the fact that he voted against it. >> first and foremost, he's speaking only to his devoted collection of people who cast votes and ballots on behalf of what he believes. he's not speaking to the total american people. that's why he thinks he can get away with all of the misrepresentations. in addition there, too,