Roskam Talks Fiscal Cliff on CNBC’s Squawk Box

Posted on 12/07/2012 at 11:48 AM

Press Release:

Excerpt: "Washington, DC— Today, Chief Deputy Whip Peter Roskam (R-IL) appeared on CNBC’s Squawk Box to discuss the latest on fiscal cliff negotiations and the Administration’s statement that they are prepared to go over the cliff."

Washington, DC— Today, Chief Deputy Whip Peter Roskam (R-IL) appeared on CNBC’s Squawk Box to discuss the latest on fiscal cliff negotiations and the Administration’s statement that they are prepared to go over the cliff.

To watch the video, click here or the image below.

Where are the cuts?

The entire conversation since the election has been litigating one quarter of the president's own architecture. All we're talking about is revenue, revenues, revenues. The White House has been absolutely silent on 75 percent of their own described remedy and that is where are the cuts?  

The president’s proposal doesn’t address the problem

Now, Secretary Geithner comes to Capitol Hill and with a straight face says we need to spend more money, we need more stimulus spending. Look, I come from the state of Illinois, which is an example of what not to do.  The state had the same underlying problems, that is runaway spending problems, and they came up with the wrong solution: raise taxes, don't deal with the underlying problem, chase an entrepreneurial class out.  $7 billion in current unpaid bills, more per capita debt than any state in the Union and higher average unemployment rate. It is a system for failure.

…And I think the president’s problem right now is he’s overselling the revenue side and he’s creating the impression that hey, you pay a little bit more in taxes and all of the sudden the stars are going to be brighter.

On Geithner saying the Administration is willing to go over the cliff

So [the Administration is] poised for Operation Geronimo. Right, just go right over?  Well there’s no celebration in that…I’ve described going over the cliff as a ‘bucket of crazy.’  But the best indicator of future behavior is past behavior. President Obama twice before has made declarative statements about what he's not willing to do. And frankly, all we've heard from the White House is what they're not willing to do. But the president has signed the extension of these rates in the past. 

The need to address the debt

So here’s the question, and the operative question is does this administration really want to take to us $22 trillion in debt?  Is that really where they want to go? Because that's the pathway, and if they do, aren't we better to deal with this right now? This doesn't get any better the longer we wait, and the president has been overselling [the revenue solution]…House Republicans are determined to deal with this debt question.  We’ve demonstrated that through the Ryan Budget, we passed it once, we passed it twice.

The opportunity for tax reform

Here's the opportunity for the president to eclipse the whole thing—I don't think he's going to—but he could eclipse the whole scene. Let's not relitigate '01 and '03, let's bridge to tax reform and move forward. The Senate Democrats not answering their phones are the ones to ask about this one.

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