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Budget, but keep this a sound program and a solvent program. i just dont think we can do it in a matter of days here before the end of the year. that was my point. we need to address that in a thoughtful way, through the committee structure, after the first of the year. but the point i want to get to is this. we have already cut more than $1 trillion in spending as part of deficit reduction. we now need to put revenue on the table. the american people spoke on this issue in the election. id say ...

Program and a solvent program. i just dont think we can do it in a matter of days here before the end of the year. that was my point. we need to address that in a thoughtful way, through the committee structure, after the first of the year. but the point i want to get to is this. we have already cut more than $1 trillion in spending as part of deficit reduction. we now need to put revenue on the table. the american people spoke on this issue in the election. id say to speaker boehner and congres...

From the medicare program and trimming it back. why shouldnt it be front and center in a specified way beyond what the president is proposing, which is about $350 billion over 10 years in cuts? >> david, medicare will run out of money in 12 years. we know that we have to do something to make sure that we take an approach that doesnt voucherize it or take the approach of the paul ryan budget, but keep this a sound program and a solvent program. i just dont think we can do it in a matter of days h...

State and local tax exemptions? >> the the answer to those questions is probably not because the people dont want it. theres no march to get rid of medicare or social security and have they not raided social security and borrowed against it, its a solvent program and has been for 77 years. >> but ed, the problem is for the last 40 years we have been raiding social security and spending it on aircraft carriers. >> we dont pay for anything. >> the problem is the $2.8 trillion of ious in the trust ...

Theres no march to get rid of medicare or social security and have they not raided social security and borrowed against it, its a solvent program and has been for 77 years. >> but ed, the problem is for the last 40 years we have been raiding social security and spending it on aircraft carriers. >> we dont pay for anything. >> the problem is the $2.8 trillion of ious in the trust fund have nothing behind them. they are pieces of paper. and they will never be funded unless we tax somebody. >> but ...

Are they going to get rid of state and local tax exemptions? >> the the answer to those questions is probably not because the people dont want it. theres no march to get rid of medicare or social security and have they not raided social security and borrowed against it, its a solvent program and has been for 77 years. >> but ed, the problem is for the last 40 years we have been raiding social security and spending it on aircraft carriers. >> we dont pay for anything. >> the problem is the $2.8 t...

Package that involved cuts to medicare benefits, if thats what was required for a grand bargain? >> i wouldnt go -- i certainly wouldnt go as far as house republican budget, which i think would eliminate medicare as we know it today. there are ways to make health savings in medicare. health savings that will mean it will be a solvent program for so much longer. we shouldnt, though, break the basic promise to the american people that medicare is going to protect them in their retirement. >> senat...