Sen. Joe Manchin, D-W.Va., discusses the nationwide debt debate, 2024 political outlook and the fairway power push in a wide-ranging interview on ‘Cavuto: Coast to Coast.’
After stepping off the Senate flooring pushing for a common sense solution to the debt ceiling debate, Sen. Joe Manchin, D-W.Va., set the president directly on his proposed deficit slicing plan on “Cavuto: Coast to Coast.”
“You can’t basically just tax your way out of debt. You can’t borrow your way out of debt and you can’t cut your way out of debt,” Manchin instructed host Neil Cavuto Thursday. “You can do a combination of all of those to a certain extent and manage your debt – we’re not managing debt.”
The West Virginia senator was once responding to a remark made by way of President Biden right through his March funds proposal speech to Congress on Tuesday, the place he mentioned: “I want to make it clear. I’m gonna raise some taxes.”
While Biden didn’t element the precise tax plans, he did recommend that “billionaires” can be referred to as upon to pay extra.
SEN. MANCHIN SOUNDS ALARM OVER U.S. DEBT: ‘WE HAVE A PROBLEM’
Sen. Manchin rebutted that one of the best ways to get executive spending “under control” is with a bipartisan solution to a balanced funds.
Sen. Joe Manchin, D-W.Va., referred to as for Congress to “sit down in a bipartisan, bicameral way” to pinpoint how the U.S. has accumulates “so much debt” on “Cavuto: Coast to Coast” Thursday. (Getty Images)
“We’ve had record spending 21 years in a row, more than what we’ve taken in. When you have running a deficit 21 years in a row and nothing has happened and we accumulated debt,” Manchin mentioned, “and the way we’ve accumulated it, by 2050, we’ll have $130 trillion of public debt. We’ll be spending $5 trillion a year. Just the interest on that, there’s no way you can survive.”
The senator additional discussed making a “rational” plan or bundle that may pinpoint how U.S. debt grew to where the place “our debt-to-GDP [ratio] is greater than it was after World War II.”
“I’m not in agreement with basically holding the debt ceiling and paying our debts of the past hostage. I don’t think that accomplishes anything,” Manchin mentioned. “Can’t we at least have a piece of legislation that we agree on and that we’re going to sit down in a bipartisan, bicameral way? Just find out, how do we accumulate so much debt?”
“We don’t have to scare the bejesus out of people, and say, ‘Oh, the first thing we’re going to do, somebody wants to cut Social Security, Medicare.’ We’ve taken that off the table,” he added.
Sen. Joe Manchin, D-W.V., discusses elevating the debt ceiling, conceivable spending cuts and home power funding on ‘Mornings with Maria’ from the World Economic Forum in Davos, Switzerland.
Also talking out in opposition to White House and Democrat state-led tasks for an electrical vehicle-only marketplace, Manchin referred to as the coverage transfer “a big mistake.”
“The mistake is, first of all, we don’t have basically a supply chain that we can rely on. It’s all from Germany. It’s all from China,” he mentioned. “It’s crazy to go down that… our transportation mode, it’s never in history been dependent on any other country to supply anything that we needed for automobiles, trains and planes. It’s never happened.”
“By 2050, we’ll have $130 trillion of public debt. We’ll be spending $5 trillion a year. Just the interest on that, there’s no way you can survive.”
Looking forward to 2024, Manchin indicated he’s refraining from voicing public beef up for one particular candidate to attend and “see who’s all in the game.”
“Whether I’m going to support an individual, whether they’re Democrat or Republican, that is not what’s up for grabs right now,” the senator clarified. “I’m going to look at who has the best plan. I’m going to find the pathway that basically brings America together. Who can do that the best, and who has the best plan for the future of America?”
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Rep. Jared Moskowitz, D-Fla., discusses the U.S. debt ceiling and the power on Biden to handle the Chinese undercover agent craft incident.
Manchin additionally close down any hypothesis of him leaving the Democratic Party, whilst final imprecise on whether or not he’ll be working for Senate re-election subsequent 12 months.
“If I decide to run and I’m going to be involved, I intend to win,” he mentioned. “I feel very good about the election, whatever decision we make here. But I’m going to make sure that my country and my state has the ability to function normally and not in a dysfunctional way, and not being torn apart by the toxic political atmosphere that we have.”
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