David Plouffe - White House Advisor
Sen. Lindsey Graham (R-SC)
Amanpour: OMG the U.S. is out of money
and the stock market is tanking - but is
there a glimmer of hope?
Stephanopoulos: it’s a grand compromise
- the President agrees to 2.4 trillion in cuts
and the GOP agrees to pay Bush’s debts
Amanpour: sounds fair
Amanpour: Pluffy is there a deal?
Plouffe: we’ve agree that there should
immediate cuts followed by a committee
with the power to cut even more
Amanpour: what about higher taxes
to lower the debt?
Plouffe: the committee will be made
up of people who hate their own party
and they can recommend higher taxes
which will be ignored
Amanpour: what if Congress does
ignore their recommendations?
Plouffe: if they fail then we will have
a trigger to cut more spending
Amanpour: will you get a deal to raise
the debt ceiling which was routine until now?
Plouffe: probably since this is money
we already spent
Amanpour: I’m skeptical
Plouffe: it’s inconceivable that a federal
officer holder would let America default
Amanpour: that’s not what I hear
Stephanopoulos: Obama said he wants
a balanced approach but the trigger is all cuts
and no tax increases
Plouffe: but the Magic Committee!
Stephanopoulos: sounds like the GOP
has no reason to agree so the
Committee will surely fail
Plouffe: but the looming trigger
will scare them
Stephanopoulos: did you give the
GOP what they want?
Plouffe: no Obama is still black
Stephanopoulos: would Obama accept
all cuts and no taxes?
Stephanopoulos: you gave a lot away though
Plouffe: this has been a healthy debate
Plouffe: we learned some republicans
want tax increases
Stephanopoulos: name one
Plouffe: John Boehner
Stephanopoulos: he only agreed to that
because Obama made him cry
Amanpour: Why doesn’t Obama stand up
for his principles?
Plouffe: this Super Committee is going
to cut entitlements which will be awesome
Amanpour: progressives think you
all have caved
Plouffe: true progressives should
want the debt cut the most!
Plouffe: high interest rates!
Stephanopoulos: they’re at an all-time low
Plouffe: but what if they weren’t?
Stephanopoulos: will you cut Medicare and Medicaid?
Plouffe: we’re going to strengthen Medicare!
Plouffe: by cutting the debt!
Amanpour: it’s shameful that U.S. soldiers
are worried about getting paid
Plouffe: and getting killed
Amanpour: that too
Plouffe: it’s okay - there’s $10,000
in the White House cash box
Amanpour: what do voters think of all this?
Plouffe: Americans are enraged by GOP
threats so we had to cave in
[ break ]
Amanpour: Linds is there going to be a deal?
Graham: this is a victory for the GOP because
for the first time we were able to use the
debt ceiling to blackmail a President with
a threat to wreck the economy if he didn’t
give in to our demands
Amanpour: success indeed
Graham: it’s historic
Amanpour: can the Tea Party vote for any deal?
Graham: no because they want government hands off their Medicare
Graham: seriously they don’t support the
current deal because it doesn’t go far enough
Stephanopoulos: are you kidding?
Graham: we still have a debt which is unacceptable
Amanpour: that’s crazy
Graham: Obama has no plan
Amanpour: he gave you everything he wanted!
Graham: we haven’t eliminated Medicare,
Medicaid, public education or fire fighters
Amanpour: Soldiers in combat are asking
if they will not get paid because of the Tea Party
Graham: I would have told that soldier
to stop whining and worry about the debt
passed on to his grandchildren
Amanpour: the debt was caused by the
wars he’s fighting
Graham: thank god for the Tea Party -
do you want America to become Greece?
Amanpour: it’s a very nice place
Graham: Medicare is killing America!
[ break ]
Amanpour: is there a deal?
Will: yes the GOP won
Amanpour: President Norquist will you veto this?
Norquist: yes I told Boehner and Reid
that I can sign this bill
Stephanopoulos: apparently the GOP has got
spending cuts and extension of the
Bush tax cuts
Krugman: we should increase spending
which would help unemployment and raise the debt
Amanpour: so what will happen now
Krugman: we will have a Lost Decade
Amanpour: with a Smoke Monster?
Krugman: hopefully with a better finale
Will: cash-for-clunkers caused the
recession in 2008
Krugman: I said in 2009 we needed a
much bigger stimulus
Will: try selling that to the American people
Stephanopoulos: if the GOP caused a default
Obama would be blamed
Norquist: taxes are bad
Krugman: even Republicans think we
should raise taxes
Stephanopoulos: Obama doesn’t have
the votes Paul!
Krugman: Obama could print platinum coins!
Amanpour: why didn’t he print coins?
Krugman: it’s a mystery
Stephanopoulos: what the hell are
you talking about?
Norquist: Americans love the Tea Party
Krugman: in 2010 the GOP won vowing
to protect Medicare!
Norquist: you do what it takes to win Paul
Amanpour: thanks for coming everyone