Rep. Rush Holt on Social Security Cuts in Debt Ceiling Talks

Friday, July 08, 2011

The latest news out of the ongoing negotiations to raise the country's debt limit is that President Obama is putting entitlement reform on the table. But Nancy Pelosi and other Democrats say they were caught completely off-guard by the president's latest proposal, and said that the Party is opposed to including Social Security cuts in any kind of deal. The president says the two sides remain divided and far from finding reaching an agreement, but House Speaker John Boehner says there's a 50-50 chance that they'll be able to arrive at a decision this week. Will the president's dramatic proposal be the catalyst that moves the debt deal forward?

Representative Rush Holt, Democrat from New Jersey's 12th district, tells us about his party's next steps in the negotiations. Takeaway Washington correspondent Todd Zwillich gives us the latest where the deal stands going into the weekend.


Rush Holt and Todd Zwillich

Produced by:

Joseph Capriglione

Comments [3]


Some better questions to be aksed of Rep. Rush Holt. If Celeste Headlee were not such a natural advocate for Obama and the Democrats, she might have asked them:

~"But Rep. Holt, there is a long history of Congress holding out to get what it wanted in exchange for supporting a President on raising the Debt Limit. Barack Obama did it twice when he was a Senator. Many of your colleagues have done it in the past Isn't that true?"

~"You say you'd prefer to increase some revenues along with decreased spending; how do you propose to raise revenue? Will you increase taxes? Which ones? By how much? How much revenue will it produce?"

~"You say this is not the time to deal with the large federal budget imbalance. When is the time to deal with that?"

~"Your central point is how do we spur economic activity that will create jobs. So how do Democrats propose to spur job growth? Are Democrats proposing regulatory rules that make it easier to hire workers? Or are Democrats constantly making it harder and more expensive and more laden with complex regulations to hire workers?"

I'll be looking forward to the day that The Takeaway invites a conservative on-air for an interview to explain why Democrat policies for decades have made the cost of hiring workers more expensive and more complicated for businesses, large and small alike.

Jul. 08 2011 11:11 AM

Didn't Obama, Pelosi and their party deliberately engage in the most massive spending in world history and knew with the aid of simple math that it would spark an inevitable debt crisis?
"The debt ceiling has nothing to do with these long term questions". Really? Doesn't the CBO, IMF, Moody's and others disagree and believe this debt which was run up massively by the Democrats will have a profound impact on our nation's credit and economy in the near future? Aren't demagogic comments irresponsible when clearly this is a much needed debt problem intervention which is what the mid-term voters clearly wanted?
"This is not the time" may be correct. Wasn't the time for this debate in 2009 when this massive debt was being created and the Democrats answered with withering demagoguery on the issue as they are now? The government does not make wealth creating jobs. The private sector does provided the government does not deliberately hobble their efforts with taxes and regulations to pay for a massive debt which keeps growing.

Jul. 08 2011 09:00 AM
Peg from Southern Tier NY

The Republican "on" message is always..."We're not going to raise taxes on the American PEOPLE..."

But really what they MEAN is the they are not going to raise taxes on the American SUPER RICH.

The rest of us are paying more in taxes BECAUSE the RICH are not paying their fair shares.

How expensive is it for us in the US to support the idle super rich? Do we even need them? Where on earth would they go to get a better deal than they have in the US??? Seems if there were such a place, they'd already be there.

Jul. 08 2011 08:54 AM

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