Schakowsky: Cuts Are Possible, Default Unlikely

WASHINGTON (CBS) — U.S. Rep. Jan Schakowsky (D-Ill.) is predicting there will be no government default on its bill, and that the debt ceiling will be lifted in return for some cuts.

As WBBM Newsradio 780’s John Cody reports, Schakowsky first presents the party line, that the current crisis has been manufactured by Republicans holding government programs hostage in order to maintain tax breaks for the wealthy. But she says there are cuts possible.

LISTEN: Newsradio 780’s John Cody reports

“Cuts in discretionary spending – both defense and non-defense. We can do agriculture reform, and winding down the wars in Iraq and Afghanistan; saving, of course, in interest if we reduce the deficit,” she said.

Schakowsky says the best solution is the proposal from U.S. Senate Majority Leader Harry Reid (D-Nev.), which involves $2.7 trillion in cuts, and a long-term hike in the nation’s debt limit.

  • Lawrence Kochan

    The president siad he would take the debt crisis to the people. I am one of the people! I direct you to vote in favor of the two step, short term solution to the debt crisis as it ultimately is presented by the Speaker of the House.

    You and your colleagues have driven up our debt to extremes that are irresponsible and I want you to join those who want to take steps to reduce our spending without increasing any taxes. All of you in Congress have spent too much as it is. When do you plan to take reductions in your compensation, whether it is salary, medical care or other perks? All you can do, it seems, is to increase the spending. STOP IT!

    Lawrence Kochan

  • working man

    Yes do a short terrm solution and keep talking about the other plans. al so get out of the wars, get people back to work so they can pay taxs and help the debt crisis. Sick of the G.O.P and Dems B.S come over to No Labels. org

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