Stop-and-start meetings this weekend on national debt solutions yielded none. Cut, cap and balance was defeated in the Senate last week, stopping a Tea Party-backed answer to the deficit and debt payments.
As the debt default deadline nears, GOP leaders and the White House seem to be inching closer to some short-term solution. South Carolina’s 6th District Congressman Jim Clyburn, an advisor to the White House, says he hopes that the frameworks offered by Senate Majority Leader Harry Reid and House Speaker John Boehner can “mesh.”
“And let us all meet somewhere in the middle on these two issues,” he told Fox News Monday morning. “Let’s do it in the long-term because this is not about getting us through and election. This is all about trying to calm the markets all around the world.”
On the Reid’s plan not touching entitlements, he countered, “The last time I checked, Speaker Boehner’s plan will not touch the wealthy, the upper two percent, will not do anything to close loopholes. For anybody to say, to get rid of oil and gas subsidies is tantamount to a tax increase, that is where we have to compromise. He has to come off of that notion, Senator Reid will then come off of his notion about entitlements.”
Clyburn last week predicted there would different short-term and long-term fixes. He told affiliate WLMA in Greenwood that he saw some long-term good in the plan by the bipartisan “Gang of Six,” to come up with $3.7 trillion cut over 10 years.
Clyburn says the U.S. has put its current wars on a “credit card” and now needs to raise the allowable spending limit. Because of these actions, he says, Republicans are as much to blame for the national debt. He says, “The chickens are coming home to roost.”
Without enough money to pay off debts, social security, Medicaid, and troops, Clyburn says the deadline must be met. But now, he is asking for both sides to come up with a long-term solution in the their talks.
“No more of this herky-jerky stuff,” he adds.
Anne Eller, WLMA in Greenwood, contributed to this report.