Detailed text transcripts for TV channel - CNN - 20110501:16

Detailed text transcripts for TV channel - CNN - 20110501:16:09:00

a balanced reduction plan is right, but what's wrong is to say that if one side doesn't get 100% of what it wants in terms of coming up with that plan that they will put the entire economy at risk. and then there's this plan, i hope john doesn't support it but some of his republican colleagues do, which says we'll pay our foreign creditors like the chinese government before we pay our troops in the field and before we pay social security beneficiaries. that's irresponsible as well. >> the president used the word balanced approach but don't use the word balanced budget which is what families have to-do. our state has a balanced budget. we have to live within our budget in the state of wyoming. we need a balanced budget amendment to the constitution. we need to live within our means. not a balanced approach but a balanced budget. >> very long term balanced budget amendment. you have to go through the states and all of that. >> sure. yeah. >> since you brought up medicare this has been a very huge thing. paul ryan plan basically says we'll eliminate medicare as we

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