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This CBO report, we can see what the Republicans are going to do with it. They`re going to walk right down memory lane saying that President Obama spent a lot of money, President Obama doesn`t have an idea on how to run the economy. They`re going to use this, no doubt, to get the narrative going on the economy for Mitt Romney, which they have had a hard time doing.
But doesn`t this put, in some sense, the Democrats on the defensive? And is this a tough report to read right now? How do you conclude what`s in this report?
SEN. BARBARA BOXER (D), CALIFORNIA: Well, having lived through all of this fiscal nightmare, I want to say a couple things. If the Republicans had cooperated with President Obama when he said, I have a way to do a big deal here, to really get us on that fiscal path, to be fair, to make sure that we invest in our people at the same time reduce this deficit in a sensible way, we would have been in a different situation.
But Paul Ryan, it`s been reported, was one of the leaders who said they didn`t want to have anything to do with the president. Here`s why.
They want tax breaks for millionaires and billionaires. President Obama supports giving everybody a tax cut up to 250,000, so everyone`s taxes -- everyone who pays taxes in this country, that first 250,000 of income, they will get the Bush tax cuts. Over 250,000, the Clinton tax cuts, those rates will kick in.
And that`s why they will not go along with us. Remember, they held the debt ceiling hostage, which was awful. We got a downgrade on our bonds because of it. And they`re the ones who pushed this automatic spending cuts. And we could take that off the table, those automatic spending cuts that`s part of the fiscal cliff, by bringing home the money from the wars, which is President Obama`s idea, because he`s bringing those wars to a close, and also making sure that we give that first 250,000, the tax break, but after that, everyone pays the Clinton rates.
That fiscal cliff is over. So they can say everything they want. But I think people will know who`s been obstructing.
SCHULTZ: Well, will the Republicans do the right thing and act on these tax cuts and spending cuts? Or are they going to hang the economy out there and blame it on the Democrats?
BOXER: Oh, I think that -- it seems to me they want to put everything off until after the election. And we actually in the Senate -- we were able to do something I think that was very smart with Harry Reid`s leadership. We were able to get them to stand down from the filibuster and we passed that tax cut. Everybody gets it up to 250,000. After that, Clinton tax cuts kick in for those over 250,000.
We passed that with a majority vote. And they`re sitting on it and won`t do it.
SCHULTZ: But the CBO report paints a very tough picture in January of 2013. And this is going to be an argument that the Democrats are going to have to win with the public, is it not? This really squarely puts the focus back on winning this argument. How do the Democrats win that argument?
BOXER: As I said, number one, President Obama had the plan. If they had stayed at the table, we would not have any problems. He also had a jobs bill, the second jobs bill. They walked away from it. The Democrats in the Senate already passed the tax cuts, but we`re asking people over 250,000, after the 250,000 in income to pay a little more. They walked away.
I don`t worry about this because everybody knows we have seen more filibusters in the United States Senate than ever before. Everything we try to do.
SCHULTZ: Ever before, no question.
BOXER: So I think what we need to do is just get this done before the election.
SCHULTZ: Senator, you`ve got a petition out demanding to see Mitt Romney`s tax returns. I understand almost 100,000 people have signed this.
And you have delivered it to his office in California. Is this a hot issue with senators on the Democratic side? Is full disclosure really what this is about?
BOXER: It`s a hot issue with my constituents. And we didn`t deliver the petition yet. We`re just announcing it on your show that we`re going to deliver it tomorrow. And I hope people who want to join us will go to BarbaraBoxer.com/Mitt, and sign.
Because, you know, father knows best. His dad said 12 years of income tax returns. That`s what you should do, son. He talked to all of us. He said if you run for president, you have to do that. And I think we know that Mitt Romney shipped jobs overseas by the tens of thousands. Did he also ship his money overseas?
And I want to know that. And my constituents want to know that.
SCHULTZ: Senator, good to have you with us tonight. Appreciate your time on THE ED SHOW. California Senator Barbara Boxer here with us tonight.
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