MARKETS ARE GETTING A LITTLE NERVOUS ABOUT THE U.S.
PIERCING THE DEBT CEILING. THIS CONGRESS NEED TO DO A
SHORT-TERM FIX TO BUY MORE TIME ON A COMPROMISE ON THE DEBT
CEILING AND WHAT ARE THE ODDS OF GETTING THAT DONE IN MAY?
>> IT HAS TO BE DONE BETWEEN THE PRESIDENT AND THE HOUSE OF
REPRESENTATIVES. THE REPUBLICAN MAJORITY.
A SHORT-TERM DEBT CEILING INCREASE WOULD DO A LITTLE OF A
COOLING-OFF PERIOD. BUT IF THE PRESIDENT IS NOT
GOING TO ENGAGE, WHAT DOES BUYING SHORT-TERM MEEHAN?
THE PRESIDENT HAS TO ENGAGE. HE HAS GOT TO SHOW LEADERSHIP
IN THE CONTEXT OF A POLITICAL REALITY, NOT THE CONTEXT OF HOW
HE WOULD LIKE IT TO BE. SCARLET: WHAT MIGHT THAT LOOK LIKE?
WHAT WOULD BE ACCEPTABLE FOR THE PRESIDENT TO GIVE WAY ON
AND FOR REPUBLICANS TO GIVE WAY ON?
>> THE PRESIDENT NOT ONLY HAS NOT SHOWN LEADERSHIP, HAS BEEN
A BLACK HOLE. SUCKING THE ABILITY FOR ANYONE
TO DO SOMETHING. PEOPLE HAVE APPROACHED ME AND
OTHER SENATORS, WE HAVE WORKED ON BIPARTISAN THINGS.
IT IS NOT WORTHWHILE FOR ME TO DO ANYTHING.
THE PRESIDENT SAID HE ONLY WANTS THAT WHICH HE WANTS
EXACTLY WAY HE WANTS IT. THAT DOES NOT WORK. SCARLET:
THAT IS A STARTING POINT FOR NEGOTIATIONS.
>> IT HAS BEEN THE STARTING POINT FOR SEVERAL WEEKS.
AFTER HOUSE REPUBLICANS HAD A DEAL, HE SHOULD HAVE ENGAGED
THE NEXT DAY. INSTEAD HE IS HAVING A MEETING
OF THE SO-CALLED FOUR CORNERS. THE ONLY PERSON HE NEEDS TO
MEET WITH IS KEVIN MCCARTHY.
THE PRESIDENT NEEDS TO ENGAGE IN THE REALITY OF MCCARTHY'S
ABILITY TO LEAD THE HOUSE. ROMAINE:
HE IS SITTING DOWN WITH HIM TOMORROW.
IT WAS INTERESTING, THE COMMENTARY BY MITCH MCCONNELL.
YOU WOULD RATHER -- WE KNOW EXACTLY WHAT HE IS
PROPOSED. WHAT COMPROMISE IF ANY DO YOU
THINK THE WHITE HOUSE IS WILLING TO MAKE AROUND THAT
BILL THAT PASSED THE HOUSE?
>> I DON'T KNOW. SOME THINGS ARE LOW HANGING
FRUIT. ROMAINE: I KNOW YOU ARE NOT DIRECTLY
INVOLVED AS A SENATOR. BUT AT SOME POINT IF THERE IS A
FAILURE FOR THE BIDEN ADMINISTRATION AND THE HOUSE TO
COME TO AN AGREEMENT, AT SOME POINT THIS BECOMES A PROBLEM
FOR EVERYONE.
>> I AGREE. COULD YOU IMAGINE SAYING --
THOUGH PRESIDENT SAYING I'M JUST MAKING OF NUMBERS?
PART OF WHAT THE HOUSE OF PUBLICANS PROPOSED IS FOR THE
PRESIDENT TO CEASE HIS STUDENT LOAN PAUSE AND OTHER POLICIES.
EVERY MONTH THE STUDENT LOAN PAUSE CONTINUES IS $5 BILLION
MORE AGAINST OUR BORROWING AUTHORITY.
THERE ARE ALREADY PROGRAMS IF YOU LOSE YOUR JOB AND CAN'T PAY
BACK YOUR LOAN. THERE ALREADY PROGRAMS TAKEI --
TO TAKE CARE OF YOU. THE PRESIDENT WILL COST HALF $1
TRILLION.
WE ALREADY HAVE PROGRAMS AND IT TAKES CARE OF PEOPLE TO LOSE
THEIR JOB. WE NEED TO SPEND HALF $1
TRILLION? IT IS REASONABLE. THE PRESIDENT SAYS I WILL GIVE
YOU THAT. BUT I WANT MORE. THAT IS HOW NEGOTIATIONS TAKE
PLACE. ROMAINE: I'M CURIOUS WHAT YOU ARE
HEARING FROM CONSTITUENTS. IT IS EASIER FOR US TO LOOK AT
IT FROM THE WAY WE DO. BUT OUR PEOPLE LOOKING AT THIS
SAYING THIS IS AN ISSUE THAT MATTERS TO US, THAT WE WILL
VOTE ON IN THE NEXT ELECTION?
>> THEY ARE EATING AWAY THEIR PAYCHECK WHICH THEY UNDERSTAND
IS RELATED TO OUT-OF-CONTROL SPENDING.
BUT WHAT THEY PERCEIVE AS OUT-OF-CONTROL SPENDING -- IT
EATS AT THE UNFAIRNESS OF STUDENT LOAN POLICY.
MUST PEOPLE ARE SAYING I PAY BACK MY LOANS, I NEVER WENT TO
COLLEGE. SCARLET: IT DOES DEPEND ON GENERATIONS.
JANET YELLEN SAYS THE FINANCIAL SYSTEM FACES CHAOS UNLESS
CONGRESS ACTS SOON. WHAT KIND OF INSTABILITY IS
NEEDED TO PUSH FORWARD, WHETHER IT IS RESIDENTS THIS MONTH OR
JUNE 1?
>> IT TAKES THEM TO ENGAGE. CONGRESS WOULD SAY WE HAVE
GIVEN THEM A BILL, WE HAVE BEGUN NEGOTIATIONS AND THE
PRESIDENT IS FINALLY GETTING AROUND THE MEETING WITH
EVERYONE. THE PRESIDENT NEEDS TO SHOW
LEADERSHIP. NOT JUST TO SAY EXACTLY HOW I
WANTED AND I WILL TALK OTHERWISE. ROMAINE:
SOME OF THE STUFF ON THE TABLE, STUDENT LOANS, THE ENTITLEMENT
PROGRAMS, THERE IS A LOT THAT PEOPLE ARE TRYING TO CUT OR
THINK SHOULD BE PART OF THAT CONVERSATION.
I'M CURIOUS AS TO BEYOND YOUR STUDENT LOANS, WHAT ELSE ARE
YOU LOOKING TO TRIM THAT WOULD GET US TO WHATEVER THE FISCAL
AGREEMENT IS?
>> THIS IS WHEN I AM READING FROM HOUSE REPUBLICANS. ROMAINE:
I UNDERSTAND.
>> I THINK WORK REQUIREMENTS FOR ABLE-BODIED ADULTS WHO DO
NOT HAVE DEPENDENTS IS A GOOD THING.
IF YOU LOOK AT IT, SOMEBODY IS PAYING FOR MEDICAID, IT IS A
TAXPAYER, AND SHE IS WORKING HARD BUT PAYING FOR SOME
ALLELES WHO CHOOSES NOT TO WORK. WE HAVE AN EMPLOYMENT SOLO THAT
IF YOU WISH ABIJAH BUCHANAN. WORKING IS GOOD FOR YOU.
STATISTICALLY, YOU STAY OUT OF TROUBLE AND HAVE A HEALTHIER
LIFE IF YOU WORK. ROMAINE: THERE ARE A LOT OF PEOPLE OUT
OF WORK NOT NECESSARILY BY CHOICE AND GIVEN ECONOMIC
CONDITIONS THEY WILL PROBABLY BE MORE.
>> BUT UNEMPLOYMENT IS AT ITS LOWEST. IT IS NOT FOR
EVERYBODY, IF YOU ARE DISABLED, BUT THE ABLE-BODIED, NO
DEPENDENCE PERSON WHO IS SINGLE, SHOULD THERE BE A WORK
REQUIREMENT? I THINK THAT IS REASONABLE.
SCARLET: ONE THING THAT COMES UP IN
THESE NEGOTIATIONS AND ANYTHING ON SPENDING IS THAT THERE ARE
CERTAIN THINGS THAT BOTH SIDES AGREE CAN BE TOUCHED.
YOU HAVE BEEN WORKING WITH A BIPARTISAN GROUP OF SENATORS TO
SHORE UP SOCIAL SECURITY. IS THERE ANYTHING IN THAT THAT
COULD BE PUSHED FORWARD INTO SOME KIND OF NEGOTIATIONS WITH
THE WHITE HOUSE?
>> BE STILL MY HEART. WHAT WE ARE WORKING ON WITH
SOCIAL SECURITY CANNOT IMPACT THE AGREEMENT BECAUSE NOTHING
CHANGES IN THE NEXT 10 YEARS. THE PROBLEM -- THE PROGRAM GOES
INSOLVENT IN EIGHT OR NINE YEARS.
EVERYBODY GETS A 24% CUT WHO IS UNSOCIAL.
POVERTY AMONG THE ELDERLY DOUBLES.
BOTH BIDEN AND TRUMP ARE PRETENDING THERE IS NO PROBLEM.
I WOULD SAY IT'S GOING TO HELP OUR LONG-TERM INDEBTEDNESS TO
HELP THIS. IF BIDEN CARED ABOUT THEIR
SOCIAL NEEDS HE WOULD BE DOING SOMETHING TO MAKE SURE THERE IS
NOT A DOUBLING OF POVERTY AMONG THE ELDERLY WHEN THE PROGRAM
GOES INSOLVENT.