Sunday, November 21, 2010

CNN's Eliot Spitzer challenges Texas Congressman Jeb Hensarling, representative on Financial Service Commission,  to name his cuts to wipe out the deficit. Hensarling serves on bipartism deficit commission. Spitzer asks Hensarling to name his cuts and his solutions to slashing out the deficit. But first Spitzer gives statistics before discussing Hensarlings amendment. Spitzer shows that the current economy is at $14.5 trillion and 20 percent of that is $2.9 trillion. The current budget is $3.8 trillion and Hensarling needs to cut $900 billion out of the $3.8 trillion to come down about 24 percent where Hensarling thinks we should be. Spitzer asks Hensarling if hes willing to cut social security 25 percent this year. Hensarling answers "absolutely but you dont have to cut from social security." So then Spitzer asks him to answer the question "will or will [he] not cut social security." Hensarling says hes trying to "not harm childrens future by preventing taxes to be doubled,, living in smaller homes, and competing for fewer jobs and shrinking paychecks" when their older. He tries to use children as a use of an argument but its not really persuading and hes not answering the question. Hensarling then mentions that raising taxes "will cause for children to loose the American dream" by the time they reach the age to be considered adults." Hensarling goes on to extending the bush taxes and Spitzer agrees with him, but goes back to his question and asks Hensarling "where will [he] cut 1 trillion dollars out of this years budget." Hensarling responds that there doesnt have to be cuts. At this point there seems to be tension between them. Spitzer starts disagreeing with him on that Hensarling believes he doesnt need to cut on anything because in order for Hensarling to get 1 trillion dollars the cuts need to happen; and thats how Spitzer concludes the interview with Hensarling.


 http://www.cnn.com/POLITICS/

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