Jack Lew - Office of Management & Budget
Sen. Jon Kyl (R-AZ)
Rep. Raul Labrador (R-ID)
Amanpour: OMG Casey Anthony is out of jail and
Rebekah Brooks goes in
Amanpour: Meanwhile furious strategizing
is going on over the previously routine
lifting of the debt ceiling
Amanpour: Mr. Lew will the U.S. default
on the debts we’ve already incurred?
Lew: probably not - if sane people get their way
Amanpour: would it be bad for America if
we don’t raise the ceiling?
Lew: yes - it would raise taxes
Amanpour: oh noe!
Lew: America’s fate lies with
Mitch McConnell and Harry Reid
Amanpour: what a comfort
Lew: Obama is willing to means-test
Medicare you know
Amanpour: Pelosi says no to that
Lew: Medicare contributes to our problems
Amanpour: it does?
Lew: we need structural changes to
Medicare in exchange for raising taxes
on the rich although they will expire anyway
Amanpour: what is Obama’s plan
Lew: I just told you Christiane
Amanpour: how about a one-year extension
on the debt ceiling
Lew: no that’s stupid
Amanpour: would Obama be willing to accept that?
Lew: no - and he’s not bluffing!
Amanpour: Would Obama accept a deal
without tax hikes?
Lew: he might if it was a really awesome plan
Lew: look we will make a deal -
the question is how much pain will we inflict
on the American people
Amanpour: how much is too much?
Lew: it’s called 'toughlove' Christiane
Amanpour: will there be a deal
Kyl: there won’t be deal if Obama doesn’t
stop this obsession with job-killing taxes
Amanpour: you hate taxes that much?
Kyl: yes - so if we default it will be Obama’s fault
Amanpour: that makes sense
Kyl: or would could just give up and go
with the fake McConnell plan
Amanpour: Senator even Republicans think
we should raise taxes
Kyl: yes but I have a poll that says we should
have a clean debt bill which means no new taxes
- I win!
Amanpour: that’s slippery of you Jon
Amanpour: Michele Bachmann says we
should be deadbeats on Bush’s debts
Kyl: well she’s a little crazy but she’s right
that spending is bad
Amanpour: Obama’s has agreed to cut spending
Kyl: we could cut $100 billion in
Medicare and Medicaid right now!
Amanpour: they might agree to that
Kyl: fuck that - let them propose it first
Amanpour: Do you ever worry that causing
a Depression while simultaneously fighting to cut
Medicaid might make you unpopular
Kyl: first let’s do no harm - next we cut entitlements!
Amanpour: is Bachmann right that default
is no big deal?
Kyl: um no - she’s nuts
Amanpour: thanks for coming
[ break ]
Amanpour: panel is the GOP making a
mistake playing chicken with the debt?
Will: Obama wanted a clean bill and now
he wants $4 trillion in cuts plus tax increases -
which makes him look reasonable that
Amanpour: Congressman would you ever vote to raise the debt ceiling
Labrador: I want three things -
to cut spending now, a limit on all
future spending and a Constitutional
amendment saying all government spending
is a plot by Lord Voldemort
Karl: right now nothing can pass both House
and the Senate
Roberts: well something has to pass
Karl: well it won’t
Roberts: if you care about the debt nothing
would be worse for the deficit than defaulting on it
Dowd: not raising the ceiling would be bad
politically so it probably will happen
Roberts: Raul I’m curious why do you love
tax cuts for billionaires so much?
Labrador: look we agreed to cut taxes for the rich -
what more do you want?
Will: the tea party movement is the
best thing to happen to the GOP since Goldwater
Amanpour: interesting analogy
Labrador: Obama isn’t serious about the debt -
he keep proposing spending cuts and higher taxes
Karl: why didn’t the GOP just accept the
President’s proposal to cut Medicare?
Labrador: to protect job-creating
tax cuts for the rich stupid!
Dowd: each side hates the other -
with good reason
Roberts: just compromise and make
Labrador: the American people will not stand for that
Roberts: you’re a strange young man
Labrador: the President doesn’t care
about the debt he just wants to raise taxes
Amanpour: Did Obama actually propose
raising tax rtes?
Karl: oh no he’s lying
Labrador: Americans love tax cuts!
Roberts: people want a balanced approach
Lab: so do I - we need tax cuts for the rich
balanced with cutting benefits for the poor
Dowd: We should raise taxes and cut spending!
Amanpour: where is Mitt Romney in all this?
Will: he’s been very, very clear
that he has no position
Roberts: let’s just solve the issue of
cuts vs taxes in the 2012 election
Dowd: fuck that shit Cokie -
both sides should get stuff done!!
Karl: bold words indeed Matt
[ Dowd fist-bumps Karl ]
Amanpour: Michele Bachmann thinks
being gay is like slavery
Bachmann: Uncle Tom’s Stonewall Inn
Will: she was talking about bondage
Dowd: yes she’s prejudiced against homosexuals like her husband
Dowd: this helps Governor Perry
Labrador: I was hoping Chris Christie would run for President but I’ll have to settle for Rick Perry
Amanpour: thanks for coming!