Negotiations on Deficit Continue at White House

Monday, July 11, 2011

President Obama will meet with Congressional leaders today to try and revive a $4 trillion deal to reduce the deficit and avoid a default on the national debt, a day after Speaker John Boehner rejected any agreement on that scale. Boehner says the parties should aim for a $2 to $3 trillion deal, because a larger deal would require tax increases. But President Obama says a larger deal would be easier to implement. Negotiations continued last night at the White House.

Todd Zwillich, The Takeaway’s Washington correspondent, was at the White House last night, and has updates on the negotiations' progress.

Guests:

Todd Zwillich

Produced by:

Duncan Wilson

Comments [4]

Jim Kastely from Nothville Michigan

I am tired of the politicians in Washington ALWAYS playing politics. ALWAYS. A plan to reduce the deficit that both the Republicans and Democrates would agree on would be a great thing for this country, The last time the two parties agreed on budget/deficit talked was during the Clinton administration. The Federal Govt had a balanced budget. Amazing. ( Actually they had a surplus ) A balanced budget or deficit agreement would do wonders for the economy of this country. Both parties need to STOP playing politics and do what is right and come to an agreement.

Jul. 12 2011 09:57 PM
Jay from New England

You asked the all-important question: "What should be done to create jobs?" Obviously, the answers are few and far between. But, in a "perfect world," laws would be passed that would require, that's right, require, corporations to manufacture their goods here in the U.S. The laws would require corporations to use Americans to fill their job ranks. And, Congress would pass laws to create a new "green revolution," putting millions to work. Obviously, the Republicans would have nothing of that. And, just as obvious, corporations, on their own, will continue to do what will give them the greatest profits-and to hell with the people; and, greatest profits come from cheaper goods from overseas. Also, as obvious, Americans continue to flock to Wall Mart where most goods are imported from Asia. Corporations will continue to look out for themselves, and not to their employees so Congress's job should be to change the playing field. Congress should also "force" lenders to let go of their cash to help people finance purchases, rather than hoard their cash or make wide-spread mergers. I'm glad to have said this to you, as no one else is listening.

Jul. 11 2011 10:09 AM

If corporate business is not creating new jobs in America, why doesn't our government tax them and use the revenue to create jobs itself? It's time that the government of the people, by the people, for the people, begin to invest in the people.

--Howard Solomon

Jul. 11 2011 10:09 AM
David Zapen from North Miami Beach, Florida

The Republicans especially have no credibility on the national debt. Their failure to let the 2001 Bush tax cuts expire cost $4T in tax revenues, enough to pay for our two unwise & illegal wars. The top marginal income tax rate should be 91% (for $3M+ in 2010 dollars) like under President Truman to pay off the $3T (in today's dollars) Second World War. The 91% marginal tax bracket would be for all income above $1B including by corporations and capital gains, encouraging tax-deductible gifts to 501(c)3 nonprofits.

Jul. 11 2011 10:02 AM

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