they needed to see in all likelihood was a total number less than one trillion, $940 billion is certainly close, but that will probably make them more comfortable, also some verified cbo deficit reduction, and at least projections, though the cbo is always cautious about that second decade of any kind of deficit projections because as the office says, it s very difficult to predict with any accuracy 20 years out exactly what the deficit implications of any bill is going can to be, including one of this magnitude, size and scope. nevertheless, james clyburn has been talking hour by hour, day by day with all these members yet to commit. he probably is signaling he can get the sufficient 216 votes to prevail. i m told that the likely process we re going to see play out in the next couple of days, martha, is this. on saturday the rules committee will put together the rule governing action on this bill.
mean you because i think you re fair. but the republicans and the conservative media have done such a great job spinning this, that people don t have a clue what s the truth of this bill. for example neil: i can t find two liberals who have the same consensus. republicans stand up at the tea party event and say this bill will explode the federal deficit. the republicans rely on the cbo for deficit projections. the cbo said it would reduce the deficit by almost a trillion dollars. if you quote the cbo neil: you re right but stepping back, i wish we had more time. the fact the of the matter is, that might be so over that time but over the same period, combined deficits are going to be in excess of $10 billion. i agree. that s the problem. but don t say i agree with you deficits are a problem but
deficit projections while we re going to see increases in taxes. so that shows government spending at really unprecedented levels. that s the difference here. republicans need to step up. i absolutely agree. but democrats also are going to cost us more. glenn, what do you think? i think when this is over, we should talk about the family values party of mark sanford and half the guys who tried to impeach clinton. of course there is hypocrisy in this country. ronald reagan talked about fiscal. bush, he has wars he doesn t even put on his books. the democrats might spend, but at least they re honest about it. mike, there is a lot of blame to go around. let s keep it on the money. who is more to blame here? the democrats, david. their budget is $4 trillion versus $2.5 trillion for the republican budget. there is more harm on top of the additional spending being put forth by the democrats. as vicky alluded to, the tax
foreclose, if prices go down significantly from here. let me move on. i want to talk about the deficit and i also want to talk about taxes. here are the deficit projections from the president s 2011 budget and the numbers are, frankly, staggering. if you look at the deficit for 2010, 1.56 trillion. through 2015, they estimate it comes down with $751.9 billion. how serious is this, secretary paulson, assuming also that ten-year projections are often wrong? oh, i just have no doubt that it is by far the most serious long-term challenge we as a nation face. all these other issues, economic issues are minor compared to that. and it s a generational issue, because there s no way we re going to deal effectively with
foreclose, if prices go down significantly from here. let me move on. i want to talk about the deficit and i also want to talk about taxes. here are the deficit projections from the president s 2011 budget and the numbers are, frankly, staggering. if you look at the deficit for 2010, 1.56 trillion. through 2015, they estimate it comes down with $751.9 billion. how serious is this, secretary paulson, assuming also that ten-year projections are often wrong? oh, i just have no doubt that it is by far the most serious long-term challenge we as a nation face. all these other issues, economic issues are minor compared to that. and it s a generational issue, because there s no way we re going to deal effectively with