CNN "CNN Newsroom" - Transcript

Interview

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BALDWIN: Like I said, we heard from Republicans moments ago saying the speech falling short. I want to go to another Republican, John Barrasso, another Republicans senator from Wyoming. Senator Barrasso, good to have you on the show. Appreciate it. We heard from Congressman Hensarling who said he missed his lunch for this. Do you feel the same way? How do you think the president did?

SENATOR JOHN BARRASSO, (R) WYOMING: I expected more from him. What they got was political rhetoric and what they got were detailed. The president is going to double our national debt in the next ten years. I think we need to have the discussion.

The president offered a plan. He talked about cuts and said that he should use a scalpel instead of a machete. I know how to use a scalpel and what the president has been using is a shovel, to shovel the money out, out of Washington, taxpayers' money.

And that's why we're facing this incredible debt cry sits where the president is asking us to raise the debt ceiling, something that when he was in the Senate said was a failure of leadership.

BALDWIN: Senator, I want to ask you about the debt ceiling. But you've mentioned tax reforms and it affects every single one of us. Many are saying that the tax issues, tax hikes, total nonstarter. Speaker Boehner said that everything is on the table. One idea that is being thrown out there is simplifying the tax code. You lower the rates for in exchange of other things.

BARRASSO: We need a simpler tax code. Tax day is at the end of this week. It is a real challenge for people to fill out their own tax forms. It's much more complicated than anyone and we spend lots of money doing that. We need a simple, fair, tax system.

You talked about lowering tax rates. The president talked about raising tax rates. And I have to tell you, our problem is not that we are taxed too little. It's that we spend too much. All Washington do is spend it. I would encourage them not to send the money to Washington and impose any kind of a tax increase.

BALDWIN: We heard from a lot of Republicans. We're hearing from the DNC chair, Donna Brazile and here's what she said. "The vision behind his plan," President Obama's plan, "is straightforward and envisions an America in which we can all come together in an a responsible way to guarantee jobs for all of those that want to work, support for those that have fallen into tough times, securities for our families and opportunities for our children." What is your reaction?

BARRASSO: The best thing we can do for our children is give them a debt-free future. I know "vision" is kind of the word of the day coming out of the White House two days ago the word was balance. I think we need a balanced budget amendment to the constitution. We need to get the spending under control. Families do that. If families overspend, they cut up the credit cards. That's what you need to do, get spending under control and that's why we need an amendment to this constitution. We need to get the spending under control.

BALDWIN: I think a lot of people, senator, would agree with you, a balance needs to happen. But I think Americans have lost a little bit of faith because of what happened just last week in the 11th hour of compromise made to continue funding the government. What can you say to Americans? Point blank, can you -- is it possible for Democrats to work things out with Republicans here?

BARRASSO: Well, I voted to keep the government opened last Friday night. I thought it was the responsible thing to do. I would like to have more cuts to that number. That's a budget that should have been passed last year when the president had the house and the Senate all under his control and never passed the budget and then this year the president has passed a budget which many in the press have called irresponsible and the magazine "The Economist" has called dishonest. The president owes the American people more than what is being touted as dishonest. We didn't get either of that from the president in his so-called major speech to the country.

BALDWIN: That is your perspective and I do want to ask you about the debt ceiling. Republicans say you won't raise the debt ceiling without conditions. Senator Barrasso, you have not announced among yourselves what those conditions may be to merit that. Let me ask you, are we talking spending caps or cuts or balanced budget amendment? What are we talking about here?

BARRASSO: You're talking about something that is significant -- that sends a significant signal to the country and to the markets and to the world, to the rest of the world. I mean, we're borrowing so much money so much of our debt is owed to China, 41 cents of every dollar we spend --

BALDWIN: What are the conditions?

BARRASSO: It's a straightjacket on the spending, a balanced budget to the constitution, it is a significant signal that says, yes, we are serious about getting the spending and the debt under control and the president has fallen very short of that.

BALDWIN: All right, are the two sides going to be able to make this agreement by July before we hit the ceiling?

BARRASSO: The debt ceiling is coming. There's going to be a deadline there. At this point I'm not willing to vote to increase the debt ceiling. I think that would not be a responsible thing to do to just do business more of the same.

BALDWIN: Senator John Barrasso, appreciate you coming on. Thanks.

BARRASSO: Thanks, Brooke.

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