Meet the Press   |  December 22, 2013

Budget agreement: The economic future

Sens. Chuck Schumer and Tom Coburn talk about the budget agreement passed last week on Capitol Hill and what lies ahead for the American economy.

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This content comes from Closed Captioning that was broadcast along with this program.

>> let's talk about a budget deal. a small budget deal that has been passed. a glimmer of hope for bipartisan consensus. but here's the bottom line. they didn't take on the hard stuff . including in 2014 , and this smacks us in the face, the debt ceiling. are they going to manage concessions before raising the debt ceiling?

>> i guess i can't really speak for republicans. my thoughts are if the american people don't believe we have a debt ceiling because we always increase it, and they don't believe we have the discipline in washington. there is a positive out of what happened last week, is, yeah, we can come together and agree. what, david, i would say to you is the reason we're in trouble on deficits and debts is not because we didn't agree but because we did. we agreed to spend $740 billion we didn't have last year. we agreed to waste $30 billion as i put out the waste book in year. we agreed to continue to let medicare have $80 billion a year in fraud in it. we're going to have $80 billion a year in fraud in obamacare. we agreed to all those things. so the story coming out of washington that we don't get along, i would dispute that. we get along just fine with the status quo of the government being ineffective and inefficient. so we pass a bill that raises spending and raises taxes and denies what we promised the american people , and everybody says, oh, my goodness, how great. you grew the government some more and you charged us more taxes and you didn't fix any of the problems.

>> so senator schumer address the debt ceiling. it hasn't been addressed in this budget deal. do you imagine another fight on this?

>> no. i would predict that republicans will back off any hostage taking, adding extraneous, irrelevant issues to the debt ceiling. they learned in october that if they followed the tea party and said we're going to let the government default unless we get our way, it was highly unpopular. i understand there is some sabre rattling right now by speaker boehner and minority leader mcconnell. and that's natural. they cut a good deal, i thought, on the budget, and they had to show the hard right that they're going to do something else. but at the end of the day , the president is going to hold firm, no negotiations on debt ceiling, republicans will look back to october and say, we're not going through this