{"id":19163,"date":"2011-06-09T01:01:01","date_gmt":"2011-07-20T00:18:16","guid":{"rendered":""},"modified":"2011-07-20T00:18:16","modified_gmt":"2011-07-20T00:18:16","slug":"sessions_schools_cnn_anchorbabe_on_the_debt_ceiling_and_spending","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2011\/06\/09\/sessions_schools_cnn_anchorbabe_on_the_debt_ceiling_and_spending\/","title":{"rendered":"Sessions Schools CNN Anchorbabe on the Debt Ceiling and Spending"},"content":{"rendered":"
\n

RUSH: Audio sound bite time. Jeff Sessions taking a CNN business anchor babe to school on spending and debt. It happened this morning on CNN\u2019s American Morning. Now, the correspondent here is Christine Romans, and she interviewed Senator Sessions — who we love here — Republican from Alabama. And during a discussion about the debt ceiling and the budget, she said, “Look, when you look at the markets, the markets are telling us that they think the debt ceiling is going to have to be raised. The question is the process. How do you get to it? What kind of cuts do you need to see? Do you think that we\u2019ll be able to raise the debt ceiling and it will buy us time through the end of next year?”<\/p>\n

SESSIONS: Well, I think the bond market would be awfully disappointed if the debt limit were raised and we did not reduce spending and change the trajectory of debt that we are on, which is clearly unsustainable. <\/p>\n

ROMANS: Yeah?<\/p>\n

SESSIONS: Last week\u2019s economic numbers were really troubling, with unemployment up, manufacturing down. The Fed reported just yesterday that a number of their regions had negative growth compared to the last couple months.<\/p>\n

RUSH: Okay, now, she tries to argue that, “Well, we gotta spend more! We gotta spend more, then! The only answer here is to spend more,” and he just takes her to school with facts. He says, “We did that and it isn\u2019t working.” She says, “Well, your friends across the aisle,” meaning the Democrats, “will use those same statistics to say that this is why we can\u2019t be cutting too deeply, because if you cut now — you cut too deeply — you hurt the economy in the near term. Longer term that hurts your chances of deficit reduction and getting a debt under control.”<\/p>\n

SESSIONS: Christine, this is a key question you just raised and we need to talk about. What we know is for the last two-and-a-half years we\u2019ve borrowed and we\u2019ve spent money we did not have and we have not —<\/p>\n

ROMANS: (shouting) To recover from huge, huge financial crisis! Duhhh, that nearly took down the American economy!<\/p>\n

SESSIONS: We borrowed money we did not have in large amounts from the future to spend today to artificially stimulate this economy, and it has not worked. We\u2019ve had the lowest bounce-back we\u2019ve ever had from a major recession. It\u2019s very, very dangerous.<\/p>\n

RUSH: She was not satisfied, of course, \u2019cause she\u2019s got her narrative, she\u2019s got horror template, and he doesn\u2019t know what he\u2019s talking about.<\/p>\n

ROMANS: Can we afford to keep seeing all of these jobs disappear and will the private sector magically just recover around it to absorb them?<\/p>\n

SESSIONS: If we get this economy on a sound footing, the private sector will recover. The idea of Keynesian stimulation of the economy is not working. We\u2019ve already spent far too much.<\/p>\n

ROMANS: Yeah. You know, somehow I knew you\u2019d go back to the Keynesian argument but —<\/p>\n

SESSIONS: Well, really it\u2019s a national debate, isn\u2019t it, Christine?<\/p>\n

ROMANS: It is.<\/p>\n

SESSIONS: Can we officially by borrowing money from the future —<\/p>\n

ROMANS: Mmm-hmm —<\/p>\n

SESSIONS: — spending it today, generate growth? Well, maybe sometime you can make a dent with it, but as a systemic policy it\u2019s disastrous.<\/p>\n

ROMANS: Eh, eh —<\/p>\n

SESSIONS: It\u2019s put us in a position that we can\u2019t… The debt becomes so large that it begins to pull our growth down, which is happening today.<\/p>\n

RUSH: Jeff Sessions, senator from Alabama.<\/p>\n

END TRANSCRIPT<\/p>\n

*Note: Links to content outside RushLimbaugh.com usually become inactive over time.<\/p>\n","protected":false},"excerpt":{"rendered":"

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