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The out of control deficits. we had a deficit last week in one day of $166 billion. that's unsustainable and insane. we've got to completely turn it around. i think the american people will turn it around november 2nd. >> brian: the deficit is frightening and too close to the weekend. we wanted better news. tom delay, thank you very much. >> my pleasure. >> brian: calls today for the government to adopt a transaction tax to pay off the debt. under the plan everybody american would be hit with 1% tax on every dollar you spend. to cheryl casone on how it works. >> how is this nation supposed to ...

Year which is the path we are on which takes us away from ever balancing the budget which produces a debt crisis. that is the problem. the president has us on a path toward a debt crisis that hurts everybody. that brings us to a recession. gives us a european kind of experience we want to avoid. we want people going back to work. higher wages. more jobs. a growing economy. we get that by balancing the budget. >> chris: there are two sides to the argument. the president would say the spending cuts and sequester and cuts that you going to propose in the short-term could actually hurt this kind o...