Power Play Live Video: Rep Gingrey: Very Close To Deal On Entitlement Reform

Following talks with Republican leadership on a potential debt deal, an optimistic Rep. resentative Phil Gingrey (R-Ga.) told Power Play Live's Chris Stirewalt, "Sounds to me that maybe that are very close to working out a deal that does include entitlement reform." The Georgia lawmaker added, "I hope so...because you can't get to where we need to be with just cutting 12% percent of the budget."

However, he sounded less than hopeful on the White House's suggestion that it cut make more cuts in Medicare, telling Stirewalt, "I don't think it's possible, I really don't."

And he cautioned his own party, "We are gonna hold our leadership's feet to the fire in regard to whatever debt is worked out on this debit limit, and I think that a balanced budget amendment should be part of the deal, the so-called cap, cut and balance approach."

You can see his exchange with Chris Stirewalt from Power Play Live below and join the show live each weekday at 1130am EDT at http://live.foxnews.com.