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The only reason there is pressure on washington to do something about the deficit is because were in dire straights with the economy. >> sean: we have to deal with the entitlements. i dont have a problem dealing with entitlements. >> but the last president that tried to do it, george w. bush -- >> sean: it didnt work. >> he grabbed the third rail and put his arms around it and hugged it tight. he thought it was in the interest of the programs long-term ability to continue to exist for your kids,...

The only reason there is pressure on washington to do something about the deficit is because were in dire straights with the economy. >> sean: we have to deal with the entitlements. i dont have a problem dealing with entitlements. >> but the last president that tried to do it, george w. bush -- >> sean: it didnt work. >> he grabbed the third rail and put his arms around it and hugged it tight. he thought it was in the interest of the programs long-term ability to continue to exist for your kids,...

Waste in the federal government budget let us please get after that first before we start talking about cutting entitlements. >> chris: but that is where the money is. it may be a typical political question. but the money is in medicare and social security. we have the baby boomers coming and there will be a huge explosion of entitlement spending and you call it a political question when i ask you to name one single entitlement expenditure that you are going to cut. >> we ought to put every poss...

While. politically this is a tricky one for the president, for the democrats heading into a midterm election. boy, wouldnt you love to claim victory saying after we got into office the recession ended. i think if anybody tried to say anything like that in politics, they would seem more out of touch than normal. >> cant do it. you cant say it from the white house. you cant say it from capitol hill, cant say it from the white house, people will call you on the carpet. people who live this will cal...

The recession is over. are you employed? is your kid employed? is your house worth more than it was? how is your 401(k) doing, your house, right on down the line. politically this is the third rail. george bush i had the problem. remember the scanner incident that didnt happen. there was so much of that stuff back then. it was like, well, the president is out of touch. doesnt he realize what were suffering through? the statistics are way ahead of what people are actually feeling. in this case as...

I think theres obviously another reason. and it was this kind of third rail subject of black racism or reverse racism or whatever. obviously there was an enormous sensitivity to this allegation. and to the point where before anyone talked to ms. sherrod or got her side of the story or even bothered to look at the full tape, she was gone. had to pull over to the side of the road and do her resignation right there. i think the president left out the subject matter. clearly the subject matter was k...

Good things they are doing. then you have hoyer and james clyburn, democratic house leadership who have suggested that maybe raising the retirement age not out of the question. john boehner saying the same thing. at least we are discussing it and we are not acting like it is the absolute third rail and you cant disut it at all. you might actually have this understanding, this bipartisan agreement on something thats a really icky issue that nobody wants to talk about. >> bill: icky issue. reitera...

Quote, unquote, rich who make more than $200,000, for ten years to accumulate enough revenue to pay for what is undoubtedly a health care plan whose cost haves been underestimated is simply a pipe dream. i think most people in this country understand that the middle class has to participate if youre going to generate enough revenue to support government and they simply, because of obamas promise, will not touch that third rail. >> but that is a consumption tax. this value-added tax, thats what w...

Weve never experienced this in our lifetime. weve never had this kind of unemployment at this magnitude of number of people. weve had high unemployment but never 13, 14 million people. >> neil: where do you draw the line on how much and allowing the benefits continue? >> i think there has to be a line drawn because people will grow dependent. but were not arguing the fact we shouldnt help people that are town. were arguing if youre going to do that, lets make the hard choices on lower priority i...