• With: Rep. Jan Schakowsky

    CAVUTO: So, you -- I would take it then you disagree with him when he says we don't have a spending problem?

    SCHAKOWSKY: No, I think that we do have certain things that we can cut in spending, but in fact, right now, I think the crisis that we have right now is a jobs crisis.

    I think it's an income inequality crisis in our country. I think there's an investment crisis. You know, we don't talk enough, Neil, about the third leg of debt reduction, which is not only spending, not only raising revenue, but growth in the economy. And, you know, this debt ceiling issue is just crazy.

    I stand with the Koch brothers right now.

    CAVUTO: Was it crazy seven years ago when a lot of your Democratic colleague, ma'am, voted against raising it? Was it crazy then?

    SCHAKOWSKY: Well, except that it wasn't real, and this is real. And the last time...

    (CROSSTALK)

    CAVUTO: Well, I guess real is in the eye of the beholder, Congresswoman.

    SCHAKOWSKY: No, no.

    (CROSSTALK)

    CAVUTO: If it was theatrics then, I guess it's theatrics now. Right?

    SCHAKOWSKY: No, it was more -- you know that that was a -- that those past votes were more symbolic.

    But when we really had a crisis over the debt ceiling in 2011, there were real consequences, real lasting consequences.

    CAVUTO: Yes.

    SCHAKOWSKY: And we didn't even -- we did raise the debt ceiling in the end.

    CAVUTO: All right.

    SCHAKOWSKY: But we saw -- we saw the deficit grow, Neil, when there was this threat to -- and so, as I say, I stand with the Koch brothers...

    CAVUTO: OK.

    SCHAKOWSKY: ... the U.S. Chamber of Commerce against this hostage taking over the debt crisis.

    CAVUTO: Understood.

    Well, Congresswoman, I always appreciate your coming on. And you give as well as you take, and I appreciate that.

    SCHAKOWSKY: Thank you.

    CAVUTO: Congresswoman Schakowsky of the fine state of Illinois.

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