Whip Hoyer Discussing the Debt Limit Deal on Bloomberg

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i am peter cook, with the man who is responsible for finding the democratic votes for the debt ceiling crisis, steny hoyer. a lot of negotiating. we have heard democratic criticism.

i think we missed a wonderful opportunity to make what almost all democratic leaders wanted, a big deal. consistent with the gang of six and others recommended to get this on a long-term path. that the fault is not an option. we're confronted with an agreement that does some things we do not like, does some things that we think are ok. the republicans probably in the same place on that. i think the republicans will have to offer a very substantial number of votes in the house of representatives if they're going to get this thing passed.

tell me what that means.

well over majority of their people, in my opinion.

at least 121 people.

yes. i have not talked to mr. boehner or mr. kantor and mr. mccarthy to see where they are. we will meet with our caucus at 12:00. if there is a lot of disappointment that this is not a balanced deal. that this is not have the revenue component asking the best off in america to help our country get out of this hole. to much expectation that programs affect the least well- off may be affected. there are protections for social security, medicare beneficiaries. there is some protection for the most honorable, which i think the democrats will appreciate. -- vulnerable, which i think the democrats will appreciate.

to think there is a risk this will not clear the house, given the challenges?

we will see what mr. boehner does. he raised the defense issue last night, which was -- that is part of the balanced package of defense cuts and in the event the committee cannot come to conclusion adopted by congress. we will see what he does. on our side, we will meet at 12:00 and see what they think. but nobody, and i stress nobody, wants to see america the fault. the fact we have been driven to this last-minute 11th-hour, and willingness on the other side to compromise is unfortunate. we do not want to look back, but want to look forward. now is the time to act. we will talk to our members to see how they feel.

what is your message on the issue of tax revenue? the president suggested the super committee can still considered tax increases down the road the republicans are saying, that is not the case.

there are no tax increases in here, correct. but the committee has the option of considering tax reform, revenue enhancement, elimination of loopholes for manufacturers don't-manufactured airplanes or consumers that have a lot of money that taking tax breaks and loopholes for oil companies. those are on the table. i would hope it would pursue that. every bipartisan commission with bipartisan support has said in order to solve the problem that confronts us, you need a balanced package. cuts in spending, bring the deficit down, but also need revenues. we're connecting -- we have to bring that in the balance.

what is the message to your caucus members today? we saw from the congressman from arizona, suggesting that democrats, the white house -- of the senate, the white house, you gave away the store.

i do not think we gave away the store. i think we protected things we wanted to protect. first of all, with a long-term solution, going through 1213 -- 2013. we had not had a responsible way for. we will go to 2013 with the steel. secondly, we protected social security and medicare beneficiaries. we did not get the balanced package we were looking for or the long term solution we were looking for. and the sequester, which will result of the committee cannot come to an agreement, with which congress will agree, we did balance spending cuts on defense and on domestic discretionary spending, which will mean both parties will have incentives to reach agreement.

one final question. i want you to put yourself and john boehner is shoes.

i do not know his job is on the line. what is on the line is the credit worthiness of the united states of america and the welfare of the american people. i would have john boehner's party, which, frankly, said -- my way or no way -- would see, frankly, this still, they got a lot in this deal. they did not get everything they wanted. it is time for us to move ahead.

steny hoyer, the minority whip in the house. could vote as soon as today on the debt ceiling deal.