[unintelligible] >> you have 80% of the american people who support a balanced approach. 80% of the american people support an approach that includes revenues and cut its. the notion that somehow the american people are not sold is not the problem. the problem is, members of congress are divided ideologically into various positions because they boxed themselves then with previous statements. this is not a matter of the american people knowing what the right thing to do is. this is a matter congress doing the right thing and reflecting the will of the american people. if we do that, we will have solved this problem. >> i wanted to ask about the two trains that seem to be rolling down the track down the hill. later mcconnell has laid out an elaborate plan to raise the debt limit. he says it will be paired with the new committee that would be tasked with coming up with the big solution you talked about by the end of the year. your comment on that proposal. meanwhile in the house, you are saying we can be flexible in our demands of we could get a balanced amendment. is there any way that could b

oh, by the way, the president asked the american people to engage tonight. are reports of republicans saying that the house servers, they're crashing. congressional websites are crashing tonight, they're getting hit so hard by the american people. i thought tonight was a great night for america. isn't every night? i mean, i love the debate. in fact, i think round two should be president obama and speaker boehner going at it on live tv. hell, let's just negotiate out in public. joining me tonight is former labor secretary, robert reich, also professor of public policy and author of "aftershock: the next economy and america's future." i hope we have a future. they can't decide anything in washington. mr. reich, good to have you with us tonight. >> well, good evening. >> you know, both of these plans, if you take that kind of money out of the economy, what's the effect going to be, in your opinion? >> if you take the money out of the economy, there is less money for people to spend and that means fewer jobs. i mean, one thing that is not being said, there is a b

oh, by the way, the president asked the american people to engage tonight. ports of republicans from "the huffington post" saying that the house servers, they're crashing. congressional websites are crashing tonight, they're getting hit so hard by the american people. i thought tonight was a great night for america. can't we do this every night? i mean, i love the debate. in fact, i think round two should be president obama and speaker boehner going at it on live tv. hell, let's just negotiate out in public. joining me tonight is former labor secretary, robert reich, he's also professor of public policy at the university of california at berkeley and the author of "aftershock: the next economy and america's future." i hope we have a future. they can't decide anything in washington. mr. reich, good to have you with us tonight. >> well, good evening. >> you know, both of these plans, if you take that kind of money out of the economy, what's the effect going to be in your opinion? >> if you take the money out of the economy, there is less money for people to spe

the american people definitely don't want 5. the american people have clearly said that they want compromise. they want an honest effort to meet in the middle. sue from falcon heights is one of them. leader reid has responded to the pleas of the american people by offering us a sensible compromise. i urge my colleagues to be statesmen for the sake of the country. please, come to the table. we are trying to work with you. for the sake of the country, the clock is ticking. thank you, mr.rought out in the debe. when washington says it's going to cut spendin it's untruthful with the american public. because both the boehner bill and the reid bill increase discretionary spending over the next 10 years by one of them 30 billion and the other $832 billion. how is it that we can with a straight face in this body talk about a cut when in fact we're going to -- and c.b.o. says we're going to actually increase the spending in the discretionary accounts over the next 10 years nearly a trillion dollars. and you've heard the debate in the hous

the american people are sold. the american people are sold. peat this. >> yet republicans show support on it. republican senators signed on -- >> chuck, chuck, you have 80% of the american people who support a balanced approach. 80% of the american people support an approach that includes revenues and it includes cuts. so the notion that somehow the american people aren't sold is not the problem. the problem is members of congress are dug in ideological ideologically into various positions because they boxed themselves in with previous statements. and you know so this is not a matter of the american people knowing what the right thing to do is. this is a matter of congress doing the right thing and reflecting the will of the american people and if we do that, we will have solved this problem. lori montgomery. >> thank you, mr. president. i wanted to ask you about the two trains that seem to be rolling down the tracks on the hill. specifically, leader mcconnell has laid out an elaborate plan to raise the debt limit. he said last night that it lo

we are on the side of the common sense and the american people. we are doing what we told the voters we told them we would do when they sent us here. >> the democrats would say they are on the side of the american people. the american people don't want you to cut social security and medicare. >> if you look at what happened in the last election, the american people send more republicans here to make the kind of changes i am talking about and that is what we are supposed to do. it is a common sense to do and i think that will save the country from financial collapse. >> do you view the ethanol tax credits and eliminating tax breaks for oil company, is that on the table? >> yes. raising taxes is the bottom line. we will be against raising taxes. if there is a broad tax reform package, that needs to happen for economic growth. every american understands that. i am not going to be for raising taxes. we're not going to support that. the big reform package that reforms the entire tax code and lowers rates or doesn't raise rates, that is something we can

the american people are sold. the american people are sold. i just want to repeat this. >> do you think it would have been different if you had republicans supporting -- >> chuck. excuse me. chuck, you have 80% of the american people who support a balanced approach. 80% of the american people support an approach that includes revenues and includes cuts. so the notion that somehow the american people aren't sold is not the problem. the problem is members of congress are dug in ideologically into various positions because they boxed themselves in with previous statements. and you know, so this is not a matter of the american people knowing what the right thing to do is. this is a matter of congress doing the right thing and reflecting the will of the american people. and if we do that we will have solved this problem. laura montgomery. >> thank you, mr. president. i want to ask you about the two trains that seem to be rolling down the tracks down the hill. specifically, leader mcconnell has laid out an elaborate plan to raise the debt limit. he s

the american people expect action. i continue to believe that a package that is balanced and actually has serious debt and deficit reduction is the right way to go. and the american people, i think, are fed up with political posturing. and an inability for politicians to take responsibility actions as opposed to dodge their responsibilities. all right, with that, i'm going to take some questions. ben? >> thank you mr. president. you said you want the leaders back here at 11 to give an answer. what is your answer? which path do you prefer, given what should happen? and also very quickly, what does it say about your relationship with speaker boehner? >> well, with respect to my relationship with speaker boehner, we've always had a cordial relationship. we had very intense negotiations. i will have my team brief you exactly on how these proceeded. up until sometime earlier today when i couldn't get a phone call returned, my expectation was that speaker boehner was going to be willing to go to his caucus, and ask them to do

do with the american people sent us here to do. is what needs to happen in the context of the debt ceiling debate. >> if that is not done, will 175 republicans voted no? >> i would not say all of gumwood but 33 people sunday pledged to cut, cap, and balance as part of this package. we will not support borrowing more money or raising the debt ceiling grid we think $14 trillion when you look at the cbo numbers from a few weeks ago, this is out of control. you don't have to take politician's word for it. take any economist today who will tell you that within two- three years, there will be a debt crisis in this country. we should fix the amount and a real way and not just tinker around the edges. we should actually fix it so we don't have this big problem which everybody knows is coming. the virtual consensus among economists is that we will have a debt crisis comparable to what greases having today. we want to do something bold that fixes the country and this is that rare opportunity. >> what about the $4 trillion plan that lawmakers

>> well, that will be up to the american people. here's what i would say -- >> you're the expert inside the white house. >> well, i can speak to this. most americans believe that the president has tried to tackle tough problems. i think they're clear that here is a president who is willing to do some tough things, that bviously, we took somecc1: criticism from our own party on. so, he walked the walk in terms deficit. solve thecc1: someone who's clearly been willing to compromise. and what's interesting is the president last monday night in a speech to the nation and again friday asked the american people to reach out to congress through 1:calls, and s andcc say demand a compromise, and the reaction was overwhelming. i think people are very frustrated, and they want their leaders, obviously, to have strong principles. but at the end of the day, as they're going through the struggles in their everyday life, what they can't afford is for their leaders to be engaged in a three-ring circus. >> could it open up a third party or not? >> we

are the american people wrong? >> the american people i've learned are never wrong.i practiced medicine for 25 years as an orthopedic surgeon in wyoming. they want care they need from a doctor they want at a cost they can afford. medicare has been a wonderful successful program. when they started in 1965, people then were live to 69, women to 70. because of the advances in modern medicine, women are living into their early 80s. men to late 70s. there's a huge challenge. the baby boomers who were teenagers when they formed medicare are now at 10,000 a day coming on to the medicare rolls. we need to strengthen medicare everyone the wakeup call was recently when the folks at medicare said we are going to be bankrupt five years sooner than we thought. 13 years from now. the truth of the matter is, we have to save and strengthen medicare. not jut for the people who are on it now, but also for the next generation so it is there for them. >> what do you think? you guys agree ? >> yes. >> the thin we hear most is waste, fraud and abuse. we never see anyone get fired or go to

and he turns to the american people and says, what? he says that the president is hard to deal with? get your cell phones out. i want to know what you think. tonight's question. is john boehner being honest with the american people? text "a" for yes, and "b" for no to 622639. you can always go to my blog for all kinds of commentary. i'll bring you the results later on in the program. congressman john garamendi from california joins us tonight. john, great to have you with us. at this hour, mr. boehner is crafting yet another bill with deeper cuts. where does this stand for the republicans? and one other point that i find very interesting is that they are making the rounds to conservative media, trying to gin up support to get enough of these tea partyers on board. they're going to hannity, they're going to limbaugh, they're going to some conservative magazines and whatnot. what does this say about where they are right now? >> i think they're in tremendous disarray. you just saw michele bachmann saying no way would she ever vote for a ch

he asked the american people to engage. tegy, and the websites are crashing in washington right now on the congressional websites. who wins tonight? >> well, you know, he wins optics, because he looks like he's willing to compromise. but i guess, you know, i'm going to be a little bit of a problem here, ed, but you know, for him to say that the american people are most fed up with the failure to compromise, i think is really missing the point. you know, that's what -- david brooks is really fed up with the inability to compromise. poor people and people who have lost their jobs, that's not the number one thing they're fed up with. people who have lost their houses, that's not the number one thing they're fed up with. so i think the president continues to frame it in a very republicanç way and i'm not su he's winning. you know, he's going to call a deal if we don't have a default. he's going to say he won, but a lot of people are going to lose if we get the reid plan. >> the president tonight said he would embrace the reid p

he always claims to have the pulse of the american people. >> what the american people want is for usto work together. >> the american people want us to cut spending. >> the american people want us to get our fiscal house in order. to focus on cutting spending and growing our economy. >> boehner has no clue what the american people want. he doesn't even know what the people in his own caucus want. it's easy for the speaker to act tough on conservative radio. he toned it down a bit, when he faced a real interview on nbc "nightly news." >> is it fair to say you have a bit of a rebellion on your hands? >> i have a bit of a rebellion on my hands every day. >> you're not worried? >> never let 'em see you sweat. >> really? even on the golf course? boehner doesn't have to worry about keeping his job, he has a huge government pension and lifetime health care. this debt fight is ideological for those in washington, but it's serious for those who live on fixed incomes. the dow has fallen four straight days, maybe that will get their attention. the dow is headed for its worse weekly decline in n

people don't know the president is reading a poll tested phrase. hang on, the poll is cut, cap and balance has the support of 64% of the american people. he balanced budget amendment, 75% of the american people that is a significant percentage. he's losing the argument and i think losing power everyday. >> it is huge. obviously you are right about that. when you ask people do you want only spending cuts even if those cuts don't touch medicare and social security? or spending cuts tax increases only on people making $250,000, 55-40 to the president's approach. that's why he is pushing what he is pushing today. >> sean: class warfare. >> he's not going to run against john boehner for president. he's going to run romney auerbach man or one of those folks and he's not going to have -- so we the economy tanks and continues to tank he's going to be in terrible shape. winning this argument in the sense that he's trying to do, is a very minor game. and in the main the republican party is cleaning his clock. the republican party is getting 2 1/2 billion of cuts after he tried to get by with no cuts. >> sean: there is a problem. i spoke to john b

it is time for the american people to stand up. you are out there in madison, wisconsin, 150,000 people came out in september 2009 called the tea party movement, and the whole world was shocked. 150,000 people came to d.c. you were out there with 150,000 americans in madison, wisconsin alone. there is a movement growing, and this is the most important thing i think folks in d.c. don't understand. they're so busy chasing their own tail in the games being played, look at the american people, though. the biggest protest in the history of montana happened two weeks ago about these cuts. major protests happening in ohio about these cuts. 20,000 people marched down the street protesting. >> they have enough signatures in ohio to go after senate bill 5. >> exactly. >> which is a big deal. >> here's the big story. washington, d.c., surprise, surprise, doesn't get it. the american people aren't stupid. we're not broke or the poorest country in the world. we're the richest country in the world. it's not that the pie is getting smaller. it's t

americans out of work. and now with the default negotiations, they are holding america's economy and the american people hostagets for the rich and loopholes that help corporations. we need house leaders looking out for the american people and creating jobs, not cutting them. we need strong house leaders who will truly do something about the economy, not just promote corporate interests and the rich. and now i have the pleasure of introducing my esteemed colleague the chair of the new democrats. >> thank you very much. i'm very pleased to be here today. joining my colleagues of the leadership of the house democratic caucus. many of you may remember 100 days ago today, i stood on the floor and gave what we believed is the first speech's speech and that was in reaction to the lack of any jobs bill in the first 100 days of congress. today i have no tabulated poster board to tear away. and i'm still speechless, more importantly today, i am dumbfounded. i'm dumbfounded we are 200 days into this congress and we have not had a single bill on the floor that would create a single job in this country. my question today i

you saw the reaction from the american people today. their expectation is that congress is going to act on their behalf, and seven days from now, if congress doesn't act, we're going to face the first time in our history a default of the federal government. that's unacceptable, it can't happen, everybody has to roll up their sleeves, and everyone will have to give a little and compromise and get the job done. >> now, you're saying that it won't get there, and i was just read i reading this statement online, where they're saying the president, the wiggle room in the statements suggest that the president wants to leave himself the possibility of signing mr. boehner's version if the it's the only option to raise the nation's debt ceiling in the last hours before the august 2nd deadline next week. you're saying that it may not even get there. >> it won't even get to that. we have already heard from majority leader reid that it can't past the senate. the president was clear last friday, that there were a couple things that were absolutely ess

people don't know the president is reading a poll tested phrase. hang on, the poll is cut, cap and balance has the support of 64% of the american people. he balanced budget amendment, 75% of the american people that is a significant percentage. he's losing the argument and i think losing power everyday. >> it is huge. obviously you are right about that. when you ask people do you want only spending cuts even if those cuts don't touch medicare and social security? or spending cuts tax increases only on people making $250,000, 55-40 to the president's approach. that's why he is pushing what he is pushing today. >> sean: class warfare. >> he's not going to run against john boehner for president. he's going to run romney auerbach man or one of those folks and he's not going to have -- so we the economy tanks and continues to tank he's going to be in terrible shape. winning this argument in the sense that he's trying to do, is a very minor game. and in the main the republican party is cleaning his clock. the republican party is getting 2 1/2 billion of cuts after he tried to get by with no cuts. >> sean: there is a problem. i spoke to john b

speaker, the american people are way ahead of the politicians. they have been telling us over and over again we want a balance approach to reducing our deficits. one in five americans has said very clearly, we support the republican slash and burn default plan that we see before us that only cuts services to americans to try to help us balance our budget. but nearly three times as many americans have been saying over and over again, we want to see a balanced approach between those cuts to very important services, a little bit of pain, but also tax increases on all those folks who have been taking advantage of those tax loopholes and making a ton of money. the american people don't think it's a good idea to cut medicare and social security and to cut medicaid, to protect tax loopholes for special interests. they've been seeing that over and over. but here's the biggest clue that our republican colleagues aren't listening to. the american people have said over and over that the biggest deficit our country faces today is a jobs deficit. after 204 day

speaker, the american people are way ahead of the politicians. they have been telling us over and over again we want a balance approach to reducing our deficits. one in five americans has said very clearly, we support the republican slash and burn default plan that we see before us that only cuts services to americans to try to help us balance our budget. but nearly three times as many americans have been saying over and over again, we want to see a balanced approach between those cuts to very important services, a little bit of pain, but also tax increases on all those folks who have beetaking advantage of those tax loopholes and making a ton of money. the american people don't think it's a good idea to cut medicare and social security and cut mediid, to protect tax loopholes for special interests. they've been seeing that over and over. but here's the biggest clue that r republican colleagues aren't listening to. the american people have said over and over that the biggest deficit our country faces today is a jobs deficit. after 204 ys as the ma

where the american people are. look at the numbers. washington monthly put together this chart of five most recent national polls that show more americans want a deal with a combination of cuts and revenue increases than a deal that just has cuts alone. the president is spot on when he asks for shared sacrifice from americans who can afford it, but he seems to me anyway to be word smithing the cuts. take a closer look at what he said. >> here's where we stand. we have a democratic president and administration that is prepared to sign a tough package that includes both spending cuts, modifications to social security, medicaid and medicare. >> the keyword is modifications. just what does that mean. as liberals, we need to know what modifications he's talking about when he talks about changing, saving, strengthening the big three. there needs to be a fair trade, if there's going to be a trade, when it comes to tax increases and benefit cuts. i don't think there ought to be any changes to the big three at all. the gang

the wealthiest people in our country. we are not going to balance the budget on the backs of american seniors, women and people with disabilities. >> and that is exactly what the polls are saying. independent senator bernie sanders spoke with me earlier today on our radio show. he's not happy about this, and after the radio interview, sanders went to the senate floor to deliver this very clear message to the president. >> when president obama ran for the presidency in 2008, he was a strong advocate of social security. made it very clear to the american people that he was not going to cut benefits. the american people expect the president of the united states to keep his word. >> sanders is spot on. senator obama made this promise when he was criticizing john mccain back in september of 2008. >> but john mccain's campaign has gone even further, suggesting that the best answer for the growing pressures on social security might be the cost of living adjustments or raise the retirement age. now, let me be clear. i will not do either. >> don't you think that the democrats and liberals across this country need to hear the president s

the time for comprimise on behalf of the american people is now. good morning. >> by now most americans know lawmakers are engaged in a difficult debate the debt ceiling is currently set at a little more than $14 trillion. the congress and president don't reach an agreement by this coming tuesday, the treasury secretary tells us we'll no longer be able to pay all its bills. the consequences of miss thissing deadline could be severe because washington barrows so much money spending would have to slink by 40% quickly. markets would likely respond we have tried to work with democrats we need them to work with us. the reason spending is a problem is because of run away spending. without making the spending reductions would be irresponsible. with the crisis rolling across europe, we know it's only a matter of time before america can sustain its huge and growing debt. if we don't do something now, the scenes we've seen playing all across europe could happen in america. if we don't change the way washington operates, we'll not get control of our government

[unintelligible] >> you have 80% of the american people who support a balanced approach. 80% of the american people support an approach that includes revenues and cuts. the notion that somehow the american people are not sold is not the problem. the problem is, members of congress are divided ideologically into various positions because they boxed themselves then with previous statements. this is not a matter of the american people knowing what the right thing to do is. this is a matter congress doing the right thing and reflecting the will of the american people. if we do that, we will have solved this problem. lori montgomery. >> i wanted to ask about the two trains that seem to be rolling down the track down the hill. leader mcconnell has laid out an elaborate plan to raise the debt limit. he says it will be paired with the new committee that would be tasked with coming up with the big solution you talked about by the end of the year. your comment on that proposal. meanwhile in the house, you are saying we can be flexible in our demands of we could get a balanced amendment. is there any w

the american people expect action. i continue to believe that a package that is balanced and actually has serious debt and deficit reduction is the right way to go. and the american people i think are fed up with political posturing and an inability for politicians to take responsible actions as opposed to dodge their responsibilities. with that, i am going to take some questions. >> plip, you said you want the leaders back here at 11:00 to give you an answer about the path forward. what is your answer about the path forward? what path do you prefer? and also, what does this say about your relationship with speaker boehner? >> well, with respect to my relationship with speaker boehner, we have always had a cordial relationship. we had very intense negotiations. i am going to have my team brief you on how these negotiations proceeded. up until sometime early today when i couldn't get a phone call returned. my expectation was that speaker boehner was going to be willing to go to his caucus and ask them to do the tough thi

i have great faith in the american people. it was average people who built this country, who built this economy, and i think it is those of us who want to see less government interference in our lives who really have faith in the american people, who believe in them, and want to see them use their talent and skills and their god-given ability to continue to make the country a great country. i think getting the government off their backs and allowing them to use their talents is the best way to do it. i think there is a great difference in philosophy in washington. we are being told all the time we need to compromise and get along. this is a hugely different philosophy toward the american people. we have a strong belief in the american people and their ability to take care of themselves. we do not think the government or the unions need to step in to look after them. i would support this role and who are my colleaguees pushing the legislation. thank you very much. >> i thank you and ms. slaughter for letting me introduce my frie

i think the american people just ard a new definition of compromise. paying your bills is a compromise. the american family can't wake up one morning and say, boy, it's a compromise and pay for what i already incurred. it's a compromise to pay my mortgage. that's a new one for the american people. and it's part of a reckless pattern that we have seen emerging here. furs our republican colleagues walked out of the biden talks. then twice they walked out of the talks of the president of the united states. then when the republican leader in the senate put forward a proposal, they ridiculed it. thursday night in this very house they said no to the proposal by the republican speaker of this house until he amended it. the same speaker who said we need to have an adult moment. here's the concluding paragraph of today's "wall street journal." republicans are not looking like adults to whom we can entrust the government. the american people are looking for that adult moment. if you're not willing to compromise on critical things for the country, you are not fit

that's what the american people want, and that's what we need to do. senator durbin. >> i'm sure you recall the speech that was given to the american people on monday night by speaker boehner. he talked about his bipartisan bill. and he talked about the fact that he was going to pass it in the house of representatives. we waited for that on tuesday, again on wednesday, then on thursday, and finally today, passed it, but it wasn't bipartisan. all republican votes. not a single democratic vote, and a scant majority. 218 out of 435-member house. when it came to the united states senate, it was dead on arrival, on a bipartisan basis. a bipartisan majority of senators, 59, voted to table the boehner proposal. and now we have a chance to reopen this conversation. and i can tell you, there is a growing sentiment among senators on both sides of the aisle to sit down and reach a reasonable compromise and to save our economy from the disaster that awaits us if we fail to extend this debt ceiling. what these senators on the republican side are waiting for is a per

that is what the american people want and that is what we need to do. >> i am sure you recall the speech given to the american people on monday night by speaker boehner. he talked about his bipartisan bill. he talked about the fact that he is going to pass it in the house of representatives. we waited for that on tuesday, again on wednesday, then on thursday. finally today he passed it, but it was not bipartisan. all republican votes, not a single democratic vote. and a scant majority, 218 at a 435 members. when it came to the united states senate, it was dead on arrival on a bi-partisan basis. a bipartisan majority of senators, 59, voted to table the boehner proposal. and now we have a chance to reopen this conversation. i can tell you, there is a growing sentiment among senators on both sides of the aisle to sit down and reach in reasonable compromise and to save our economy from the disaster that awaits us if we fail to extend this debt ceiling. what these republican senators are waiting for is a permission slip from senator mcconnell. he told them to

the american people deserve better. let me say if senator mcconnell would give the proposal, the one includes major elements by senator mcconnell, but no, they insist on filibuster. he said 60 votes had become routine, routine because filibusters had become routine on the republican side of the aisle. we're going to fight this filibuster, and i hope in the end some republicans will cross over and join us and break the stalemate and come up with a bipartisan agreement. >> chuck? >> well, thank you. you know, this morning at 10:00 a.m. on the floor of the senate, leader reed asked senator mcconnell to come negotiate. the door was open all day. nobody knocked. nobody walked in. and some said, well, speaker mcconnell wanted to wait until the house disposed of boehner. but after the boehner amendment was defeat ed, in a television conversation i was sitting there, senator mcconnell still refused to negotiate. we will not solve this problem by standing there and folding our arms and saying "i am not talking to anybody." and th

demonstrated, time and again, that if he is allowed even a portion of his agenda to be enacted, the american people are seeing that this is a president that is willing to stay in your -- in the room. trying to get done what is in the best interest of the american people. he has done so by dealing with the right in his own party, as well. >> his toughest opponent? >> michele bachmann? >> really? why [laughter] ? -- really? why? [laughter] [laughter] >> i do not know who his toughest opponent will be. actually, i think she has done surprisingly well, although maybe not that surprising given her populist appeal. as the irish say, "it is a long wat -- way to tiperary." i wish her good luck and good fortune. i think anyone will have a difficult time defeating president obama. >> rep john larson, thank you for your time on "newsmakers." >> happy to be here. >> your pens really started to fly at the end when you started talking about the consumer price index and payroll tax increases. what does that say about the current discussion over the debt and fiscal matters? >> up until now we have not seen concret

this president, lawrence, respectfully, as put the backs of government on top of the people. the americancating out there right now, lawrence. you talk about the wealthy, the top 5% of the people in this country pay 60% of the taxes for the first time in our history we have 51% of the american people that aren't paying any income taxes. lawrence, our government is too big. we have a government that spends too much, and we're bankrupting future generations, and we're not going to change that until we change this town. >> congressman walsh, you know that the government got bigger every year under the reagan presidency, so much bigger every year under the reagan presidency that ronald reagan had to ask you in congress, you weren't there, but congress, he had to ask congress for a debt ceiling increase 18 times, and congress gave him a debt ceiling increase 18 times. would you have voted no on every one of the 18 ronald reagan debt ceiling increases? >> lawrence, i'll give you an honest answer, i don't know. what's interesting to me is -- >> so there might have been a debt ceiling increase yo

the people decide this? why are they so afraid to let the people decide this? let me offer an answer, because democrats are terrified that the american people would ratify it and their big-spending practices would go the way of dinosaurs. the american people are sick and tired of spending. mothers and fathers understand that the federal government is going to bankrupt their children and leave them an america that is less free and less prosperous. the american people are frustrated. they might not have the data at their fingertips but they understood what i just laid out here quite well. we are not going to solve our problems by raising taxes. increasingly, the president is an island in his call for more tax increases. republicans don't support him. independents don't support him. now even democrats don't support him. you know, it's time to move o -- move on. we need to rein in our debt and we need to act boldly in doing so. so far, the president's failed to lead on this issue, choosing instead politically convenient talking points. but i would remind my dear friend in the white house that it's never too late to mend this problem. mr.

the american people know that. we are now getting to a point where i think markets around the world will question whether the political system in washington can come together and compromise for the greater good of the country. >> all right, we're going to leave it there. we'll be watching. mr. daley, thank you, as always. >> thank you. >> joining me, a member of the senate finance committee and so-called gang of six, negotiator senator tom coburn of oklahoma. senator, welcome back to "meet the press." >> good morning. how are you? >> i'm fine. i want to get your reaction to what you heard from bill daley here from the white house this morning, which is, the president will not sign a deal that results in only a temporary increase of the debt limit. he wants to see something that gets us through 2013. >> well, first of all, i think that's a ridiculous position, because that's what he's going to get presented with. that's the compromise way through that's going to build the compromise. david, everybody's talking about

the american people got to say, what is wrong with you all? so what -- what we have to do is we have to evaluate the effectiveness of every program in the federal government. we have to limit the overhead costs of federal programs. we've put ideas out there. this is $9 trillion worth of cuts. not washington cuts, american cuts, money you're not going to spend that's less than what we're spending today, not money you're not going to spend that you would have spent more the next year. this is real cuts. each one of these is in here backed up by the facts, not biased. you could disagree with where you would make the cuts but you can't disagree with the facts in here, because all the facts come from the congressional research service, the general accounting office, the office of management and budget, the president's budget in terms of his recommendations and why, and the c.b.o. we won't go there. my problem with the senate is we won't do our work. and we're as guilty. i don't -- this is not partisan to me. our country's future is at sta stake. and

the 112 congress owes the american people an apology for continuing to waste their time. where are the jobs? we owe the american people real job creation. i yield back. thank you, mr. speaker. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from minnesota rise? without objection, the gentleman from minnesota is recognized for one minute. mr. walz: thank you, mr. speaker. i rise today to tell my colleagues what my constituents are saying. simply stop playing games. we all come to this job with certain ideas, values, and principles, but that doesn't mean we get to let our ideology dictate facts. failure to pay our bills will have a catastrophic effect on our still recovering economy. it's as simple as that. this isn't a question about enabling future deficits. the federal government needs to cover the promises made to our seniors, soldiers in the field, veterans, states, and creditors at home and abroad. we need to pay our bills. the need to address our debt is every bit as serious as the need to avoid a default. we need a balan

the american people support the concept of here. it's very realistic. >> ha when the debt limit is not raised [inaudible] is that plan ultimately about the house republican leaders to get behind and what does that bring? >> you're not asking whether or not i would support the fallback plan. >> you said you won't. but you said you would have redefault the would destroy in 2012. i'm asking you if the plan goes forward and it looks like it is on a train over here impacting the house as well. >> you're asking me to foretell the future and that is difficult to do. i will say that i believed all along and said all along that it would be a mistake as a matter of policy to raise the debt limit without conditions attached. no strings attached sort of debt limit increase. i've also believed from the very beginning that it would in addition to being a policy mistake being the wrong thing to do for the american people. but also be a huge political mistake for the republicans to support a clean debt limit increase with no strings attached. i see

speaker, the american people are way ahead of the politicians. they have been telling us over and over again we want a balance approach to reducing our deficits. one in five americans has said very clearly, we support the republican slash and burn default plan that we see before us that only cuts services to americans to try to help us balance our budget. but nearly three times as many americans have been saying over and over again, we want to see a balanced approach between those cuts to very important services, a little bit of pain, but also tax increases on all those folks who have been taking advantage of those tax loopholes and making a ton of money. the american people don't think it's a good idea to cut medicare and social security and to cut medicaid, to protect tax loopholes for special interests. they've been seeing that over and over. but here's the biggest clue that our republican colleagues aren't listening to. the american people have said over and over that the biggest deficit our country faces today is a jobs deficit. after 204 day

the american people deserve better. if senator mcconnell would give us the same vote standard in the senate that was given to boehner in the house we could pass the a proposal. no, they insist on a filibuster. he said 60 votes had become routine. routine because filibusters have become routine on the republican side of the aisle. it isn't what is necessary to enact this law that is so critical to the future of america. we are going to fight this filibuster and i hope in the end some republicans will cross over and join us and break this stalemate and come up with a bipartisan agreement. >> well, thank you. and, you know, this morning at 10:00 a.m. on the floor of the senate leader reid asked senator mcconnell to come negotiate. the door was open all day. nobody knocked, nobody walked in. and some said well, speaker mcconnell wanted to wait until the house disposed of boehner. but after the boehner amendment was defeated, in a telephone conversation with leader reid i was sitting there, senator mcconnell still refused to

and this is confusing to the american people. i'm really convinced that the only way we can honestly compare the plans is to go back to the basic -- the way families do. do you increase your spending or you don't increase your spending based on what you spent last year. and we have a flat level and how much do you increase it over one year, two years, ten years? how much does it go up? that would be the way to do it, and then you can compare plans. then you can see what senator boehner has, congressman ryan had in his budget plan for ten years, senator toomey proposed a very thoughtful ten-year budget plan, balanced our budget in ten years, not easy toad to do. he did it. we need for thinking like that. and get away from this confusing mishmash and claim that i'm saving $1 trillion when nobody plans for us to be spenting $150 $150-plus billion on the war in iraq and afghanistan for the next ten years. that money has never been projected to be spent in that fashion. so, mr. president, we are in a situation where it's important for

i think the american people just heard a new definition of compromise. paying your bills is a compromise. the american family can't wake up one morning and say, boy, it's a compromise and pay for what i already incurred. it's a compromise to pay my mortgage. that's a new one for the american people. and it's part of a reckless pattern that we have seen emerging here. furs our republican colleagues walked out of the biden talks. then twice they walked out of the talks of the president of the united states. then when the republican leader in the senate put forward a proposal, they ridiculed it. thursday night in this very house they said no to the proposal by the republican speaker of this house until he amended it. the same speaker who said we need to have an adult moment. here's the concluding paragraph of today's "wall street journal." republicans are not looking like adults to whom we can entrust the government. the american people are looking for that adult moment. if you're not willing to compromise on critical things for the country, you are not fit

the american people expect action. ieve that a package that is balanced and actually has serious debt and deficit reduction is the right way to go. and the american people, i think, are fed up with political posturing and an inability for politicians to take responsible action as opposed to dodge their responsibilities. >> so you hear the president there. that was him yesterday and that was in its entirety. the president certainly upset, and took a few questions as well. but the president saying, i'm telling them they have to be here at 11:00. that's 18 minutes from now, he's expecting those congressional leaders a to the t s s at the w. you heard the assignment he gave them. you explain to me how are we going to avoid an issue with our credit rating? how are we going to avoid these problems without raising the debt ceiling? explain to me. and you also heard from speaker boehner, we'll air his full news conference in a moment. first, we will be talking with our political analyst and friends of our show here on cnn satur

the american people need to understand the scale of this debt. and it is going to destroy us as a people. and for once you are saying your congress, at least on our side, stand up, be tough enough and say we are going to use this opportunity to save our kids and our grandkids and we are going to save this republic. please, please learn the numbers. understand how devastating this is. and it's time for the fantasy, the fantasy to come to an end and start dealing with receipt mal-- real math. mr. speaker, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the house will stand at ease. the gentleman from iowa will control the remainder of the hour. the gentleman is recognized for the balance of the hour. mr. king: thank you, mr. speaker. mr. speaker, it's my privilege to be recognized here on the floor of the house of representatives and be able to address you on the -- about the matters of the day and the important issues that are before us here in this congress and in this nation. and i'

let's find solutions that work for the american people. there is a chart here that so many people have seen, mr. speaker, but if you look at, this is a chart that shows and shows our debt to the size of our economy. our debt is 100% of the size of our economy, but we were at war, world war ii. that went down, look to our future. this is a sea of red, a sea of debt that we are going to leave to our next generation. our economy will collapse well before we get to the crest of that wave. but that is our future, make no mistake, unless we change course. let's change course. i think it's important to note, where does this debt come from? who is financing this debt, because in world war ii, american citizens bought war bonds paying for this debt. not today. because in 1970, 5% of the foreign debt -- 5% of our debt was held by foreign entities and in 1990, 19% of our debt was hled by foreign entities and today, 47% of our debt is held by foreign entities. and i would ask the speaker to guess what country owns the largest share of that foreign debt

and may god bless the united states of america. american people and get their help in urging the republicans to compromise. >> absolutely. you heard him say the american people should not be collateral damage to the political warfare in washington. a couple of quick points in terms of practical next steps. you heard him essentially throw his support behind harry reid's plan in the senate despite many doubt it has votes at this point to become law. it still needs a path forward. you heard him make clear that he is not supportive of speaker boehner's plan. did he something interesting. he hugged john boehner and said he has been working with me. and i am not sure that was a helpful thing to do. john boehner needs distance from president obama to work with his faction of republicans in his team. we'll see how that goes over. >> we're awaiting for the speaker of the house. gloria has been watching and listening very quickly. a thought. >> the president clearly wants people to go over the heads of congress. he wants them to put pressure on members of c