Governors: Tough choices, taxes, and compromise needed to reduce debt (video)

Former Governors Jim Hunt (D) and Jim Holshouser (R) were in Raleigh Tuesday to launch the North Carolina chapter of “The Campaign to Fix the Debt.”

Without endorsing specific ideas for reducing the $16 trillion national debt, Hunt acknowledged some entitlement programs could face unpopular cuts as they were reformed in the future. For his part, Holshouser conceded that new revenue would also need to be part of any plan to reverse the ballooning debt.

“Everyone in Washington worthy of representing the American people, must be willing to compromise,” said Gov. Hunt.

To hear more from Governors Hunt and  Holshouser click below, or visit WRAL.com for the entire press conference.
To learn more about the lobbying campaign backed by business and political leaders, visit www.fixthedebt.org.

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14 Comments

  1. JeffS

    November 27, 2012 at 3:30 pm

    Not a single reason why we should be reducing the debt at this point in time. You would think that if this were “priority one”, as Mr Holshouser puts it, you might try to explain why.

    I’m not surprised of course. I honestly don’t think they know.

  2. HunterC

    November 27, 2012 at 4:26 pm

    Jim Hunt needs to STFU!!!

    He will receive the right to lecture others on debt and “compromise” when he hops into a time machine and fixes the unemployment insurance fiasco he “compromised” on with other “leaders” in the 1990s.

    Ride off into the sunset, Jimbo — and enjoy your government pension as you’re trying to destroy what remains of the social safety net for the rest of us.

  3. Frank Burns

    November 27, 2012 at 4:32 pm

    Hunter,
    I feel your pain. How dare Gov. Hunt speak the truth! We expect the truth from Republican leaders but when a Democrat speaks the truth, he’s committing heresy.

  4. Louie

    November 27, 2012 at 4:37 pm

    time for Jim Hunt to retire

  5. Louie

    November 27, 2012 at 4:38 pm

    he has always been a corporatist, not a progressive.

  6. gregflynn

    November 27, 2012 at 5:00 pm

    I take it you won’t mind when “entitlement reform” cuts veterans benefits.

  7. Frank Burns

    November 27, 2012 at 7:04 pm

    You tell me. Is it more important to pass out free Obama cell phones, fund public radio, rebuild mosque’s in the Arab world, continue to give funds to Arab countries , continuing to fund global warming research, or shall we cut veteran’s benefits? Where are your priorities? I know it’s a bitter pill for Advocacy groups, but we have to get federal spending under control. That is reality.

  8. gregflynn

    November 27, 2012 at 8:31 pm

    It’s all fun & games until it affects you personally.

  9. Frank Burns

    November 28, 2012 at 5:58 am

    It is not fun and games but deadly serious. I love this country but hate how spending has gotten out of control. Freedom does not mean free stuff.

  10. david esmay

    November 28, 2012 at 9:35 am

    It should be named “Campaign for Pandering Billionaire Bootlickers”. This entire scam is the brainchild of Billionaire Pete Peterson and he’s got Goldman’s Lloyd Blankfein and Honeywell’s David Cote acting as his mouth pieces demanding cuts to the poor and elderly while they themselves represent companies that have received TRILLIONS in defense contracts and bank bailouts. This is nothing more, as the Institute Policy for Studies describes as a “Trojan Horse for Massive Corporate Tax Breaks”, not one of them is offering to forego federal monies or pay higher taxes on personal income or corporate profits in order to reduce the debt, but cut programs that affect the poor, the elderly, and children, what they now refer to as “low priority” spending, to pay for it. What they want is to set up a “territorial tax system”, that would exempt their companies foreign profits from taxation and net them an additional 134 Billion a year. What these people, and those they represent are trying to do is morally treasonous, and those who buy into this bovine scatology of epic proportions are bathed in ignorance.

  11. david esmay

    November 28, 2012 at 9:37 am

    Institute for Policy Studies, I went Amish for a second.

  12. Alex

    November 28, 2012 at 1:08 pm

    Esmay has more conspiracies than Jesse Ventura !

  13. david esmay

    November 28, 2012 at 3:18 pm

    How is pointing what they are proposing and identifying the money behind this “campaign” a conspiracy theory? It’s not a campaign, but a corporate propaganda tour. These guys couldn’t buy the election and this is their only alternative, this, and GOPer congressmen, the worst politicians money can buy.

  14. david esmay

    November 29, 2012 at 2:14 pm

    Alex never met a corporate scumbag whose backside he wouldn’t kiss.