Rep. Clyburn: $4 Trillion in Cuts Possible

Says solving deficit with only cuts, and no revenue, could be "catastrophic."
3:00 | 11/02/11

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Transcript for Rep. Clyburn: $4 Trillion in Cuts Possible
It congressman Cliburn let's just the start up here with the developments from yesterday. We know that we had to. The members of the Bowles Simpson commission up there speaking to you all I want to play you -- any. A quote from -- from one of the members and ask you to respond listen to -- I have great respect. For each of you individually. But collectively. I'm word you're going to fail. Feel the country. So congressman claim Vernon in response -- -- -- gambles. Are you are you worried that the super committee is gonna fail this country. Now I'm not a word -- that I'm concerned. That we could trailed. But. I always say. There -- possibility of failure. Is an opportunity to succeed and so I don't foreclose. On the fact that we might not do it. I'm keeping my focus on the fact that we can do this we should do this and we will do this and so -- appreciate. Mr. Bowes is a longtime friend for Monday reinstated. From south they're on -- from doctor -- -- and it -- -- from the -- Obama for his wife and so he's a good but it. But. I'm not -- friend at all. How do you feel about this latest democratic proposal that we had floated last week this is the one that as senator baucus put forward -- it would -- BA I think three or four trillion dollars and deficit reduction was one point three trillion dollars. And increase revenues is are you are you on board with the rest the Democrats on Nike in the committee on the. Well if I think you classified direct route were -- says some democracy with a forward it was not the democratic proposal. Some the -- is a Democrat he made the proposal. And of course I'm not on board did with that. I -- love to see. -- one point two two or three trillion dollars in revenues. I'm realistic. And therefore I know that's not going to happen. I do believe though that we can find a way. To create additional revenue. And do it is such a way that our Republican friends on the committee and will be comfortable with it. And so that's why I'm all for -- in these loopholes. And doing things there will allow revenue to be raised. And not. -- caused him to break the promise. They may have didn't with the Simon of that -- So so congressman there there was a lot of talk yesterday from your good friend Erskine Bowles and others. Like Alice Rivlin about a grand bargain about four trillion dollars that's -- number they say that needs. To be cut in order to get this deficit under control. Is -- -- possible. Yes it is possible and correct. I mean isn't like we had that possibility out there for awhile now but the clock is ticking. Their look -- up less than a month before this this deadline cakes and are we really get -- -- something closer to the nibbling around the edges. What I would hope not but that is a possibility the -- man ended -- 1 point two trillion. We've laid out as -- goal one point five. I would love to see so -- between 3.5 and four. If we flew there with regard to done you know we have done 9/11 seventeen billion bit in the our budget control act. And of course we know that we can realize. -- citizen in the war. Another almost one trillion. That alone -- about two trillion. So if we could do one -- 45 on this committed. And the same -- interest would give -- the floor so that's not all of them hard to do. It will mean that you'll have to make. Some cuts in their one point Simon. And raise some revenues that are in that one points. You know the -- realistic. But. That's not that difficult tasks to -- us to forward four trillion dollars in deficit reduction. If you guys aren't able to reach a deal there will just be cuts enacted. Are are you at all concerned that the deal could be worse than those cuts in other words that the cure can be -- -- -- the disease as far as. Cuts in entitlement spending you know things like Social Security Medicare -- that very concerned about that. Yes I am concerned about that -- that's -- raised a question. With the people on the panel and you notice. Mr. -- are -- -- president Susan Simpson -- favorite people in politics. All responded to mark question as did. Doctor movement. And -- some of the manages. Ask. What with a -- -- For the bottom of the -- -- the footprint. Two deficit -- out end. Our country. Where we noticed that. Over the last thirty years divorce in the eighteen was an increase. In their income. -- Printout of -- tournaments. Received -- oh vote. 50% increase that's -- widening of the wealth gap and so I asked if we were to do this with all the shots. What will that mean to those people. In the bottom two and in the senate as well as those people in the middle -- They all agreed. Did he should not do that that would be catastrophic. It was meant to mean that. These people couldn't get to not just a safe in this -- they deserve but it's Houston of their children. Would be -- -- evident. That's -- I am concerned about that and that's why I'm gonna fight hard to -- your. -- all cuts both. And compassionate. Right congressman last thirty seconds we have here if this indeed it does fail. Who do you think it gets the blame -- think voters are gonna look to next November and blame for this -- falling apart. Well let me just say army. That in the rules -- -- The mozzarella must stay dum Spiro spiral is -- floor as I breathe I hope. I'm a very up from an optimistic person I am not even thinking about three years so -- -- these -- -- about who to assign blame. All right well and that you guys have one of the most iconic images on your state flatly on the hill no it quite well. And I think you very much congressman for joining us -- look like talking to in the future. -- -- -- -- -- congressman James Cliburn hope springs eternal for him he sounds like the most hopeful -- Washington right now about that. Super committee we'll have to see the clock is ticking. And tell -- in November deadline.

This transcript has been automatically generated and may not be 100% accurate.

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