Detailed text transcripts for TV channel - MSNBC - 20110720:

Detailed text transcripts for TV channel - MSNBC - 20110720:07:10:00

about, what do you do in terms of the adjustments you make to medicare? >> medicare and the other health care accounts in total, we save $500 billion over the next ten years. remember, as you so well know, we'll be spending more than $10 trillion over the next ten years, so these are relatively modest savings out of medicare and the other health care accounts. >> do you take those savings out of providers or do they come from beneficiaries also? >> i think we would say that they should come from providers, but ultimately, the finance committee will come back with a proposal. it's their responsibility to do that. we've given them a number to hit, a savings number that they are responsible to secure. >> and on the social security piece, what are the savings that you achieve there? >> what we have called for is 75-year solvency. again, none of the savings from social security go to deficit reduction, it all goes to extend

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