Both Sides Overreached Rep. Morris Brooks Preaches

Loading...
Loading...
Rep. Morris Brooks (R-AL) appeared on CNBC's Squawk Box Monday morning where he expressed the desire to see Democrats come up with a
fiscally
responsible offer to the United States' complex spending problem.  "Let's face it, I mean Republicans have overreached on the healthcare bill and I think that's widely acknowledged. Over the last, ah, 48 hours, Democrats feeling a little jumpy, if you will. Overreached on wanting to actually bust or break the Budget Control Act, which also is set as law and I think we're now back to a place…where we hopefully will resolve this in the Senate," said Brooks. "And the wildcard is: What happens if we do something here when it goes over to the House. I mean, we got a major expectations game that needs to be managed here and hopefully, ah, hopefully we will do that." 
Related
:
Some Sell Short-Term While Facing Uncertainty
While resolutions to the problems of today are pressured, more sequester cuts loom in January. "We keep putting off these, these episodes and I do think on the other hand the moment, sort of the twitching hour, is going to be when this next level of sequester kicks in on January the 15th. That's a pressure point that, ah, you know, Democrats don't want to see happen. They obviously were trying to overcome that over the last 48 hours," said Books. "But I think that as a point at which maximum pressure on the discretionary spending is in place and maybe it's that point in time when we have the opportunity to…substitute some longer term mandatory spending reform."
At the time of this writing, Jason Cunningham had no position with the mentioned entities. Visit Jason on Twitter @JasonCunningham.
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Posted In: CNBCNewsPoliticsEcon #sEconomicsHotMediaGeneralCNBCCNBC's Squawk BoxCongressRep. Morris BrooksSequester
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...