Transcript: Sens. Durbin and Kyl

DONALDSON: But I do agree, to take your point. Getting the toxic assets off the bank books so they will lend, -- we have not been able to do that. The program about private money coming in with government money has not gotten off the ground.

STEPHANOPOULOS: Because a lot of the banks don't want to participate.


DONALDSON: Let's go back to the RTC, the Resolution Trust Corporation idea that we used in the Savings and Loans debacle. Let's get that back. Let's get those assets off the books. Yes, we'll take a beating, the taxpayers, but we will take a beating worse if we don't get the banks (inaudible) lending.

STEPHANOPOULOS: Let me -- one of the building blocks of this long-term reform that Cokie says the president was writing about this morning is also health care reform. He wrote a lot about health care reform.

It did seem to bog down in the Senate this week. And now we had, as we talked about with the senators earlier, the House is going to come forward with this $550 billion tax increase to pay for it. Democrats in the Senate can't figure out yet how to pay for it.

How much trouble is the president's plan in right now?

BRAZILE: Well, the president, tomorrow, I believe, will be meeting with all of the key players in the House, the Democrats, especially, to make sure that they're all on the same page.

The proposal that was presented by the House Ways and Means Committee, the $550 billion in additional revenues -- there's no consensus on that. There's no consensus, right now, how to pay for it. But there is consensus that the Democrats will move forward and get this done.

STEPHANOPOULOS: Here's my question. You know the old saying from the '90s, "BTU," the Clinton economic plan -- the House members had to vote for this BTU, this energy tax, and then it died in the Senate; they were angry about it.

It seems like the House could be going down that same road again, put their members on the line for a pretty big tax increase that's not going anywhere in the Senate.

ROBERTS: Not just put them on the line, but also have the House pass a bill before they go out for August; have the Senate pass nothing, which seems to be the case... STEPHANOPOULOS: So you agree with Senator Kyl; you don't think it's going to happen in the Senate?

ROBERTS: I don't think it will happen in the Senate before the August recess. And then that House bill will be out there for everybody to take shots at.

And it's not just tax increases; it's also -- when people start to look at what's actually in that bill, you're going to have a lot of problems.


ROBERTS: You're talking about government mandates for everybody to have health insurance. And for a family of four making $27,000 a year, that's going to cost them $3,000 a year, and they're not going to like that.

WOODWARD: You run into the first rule of economics, and that is, if you add more people, 40 million people, to the health care system, that you're going to cover, it's going to cost more.

And you know, back in the Clinton administration, they ran into this reality. It wasn't because Hillary was secretive or it was her plan. They looked at the numbers and they said, my God, when you're running for re-election, you're spending more money rather than less.

Join the Discussion
blog comments powered by Disqus
You Might Also Like...