REP. SCHWEIKERT ON A SUPERCOMMITTEE DEAL: “It’s a spending problem. It’s not a revenue problem.”

Washington, D.C. – Congressman David Schweikert (R-AZ), member of the House Financial Services Committee, went on CNBC’s The Kudlow Report with Rep. Charlie Rangel Tuesday to discuss entitlements and the latest coming out of the Supercommittee. Here is the video and excerpts from the interview:

REP. SCHWEIKERT ON POSSIBILITY OF A SUPERCOMMITTEE DEAL

"Unlike Charlie, who has been here four decades, I’ve been here 11 months. So maybe I am still pathologically optimistic. I did get to spend some time with Senator Toomey today. He’s grinding it out trying to, as he said, “talk to members of the committee and see if there is movement.” He has also made it clear this isn’t what he would do if he were dictator. But he gets what he gets. Many of us are hopeful we’ll get a package. I think if we don’t, we’ll see a true reaction in the markets out there."

REP. SCHWEIKERT ON TAXES AND ENTITLEMENTS

"Look, it’s going to break my heart if they don’t deal with the corporate tax code to make us competitive. One thing Congressman Rangel and I disagree on, is I believe if you look at the portion of our budget that is in entitlements, that is exploding in growth, it is consuming us as a people. Our government quickly is becoming a health insurer with a shrinking army. That’s the spending cuts. It is a spending problem. It is not a revenue problem."

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