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Let's ask the man who served in the white house of policy. good morning to you, peter, and welcome to the show. >> good morning. glad to be here. >> clayton: does this ever change? i moon, 1990, it sounds like we're going over the exact same things again here in 2012. >> what's most immediately relevant is what happened as a result of that package. the spending cuts were never really enacted. the tax increases pushed the economy into recession. and so the deficit increased rather than declined. so it went from 220 billion in 1990 to 269 billion in 1991, 290 billion in 1992. i think that's dire...

That's the first time the president has budged on the $250,000 figure. in exchange, the white house is offering what it claims is $1.2 trillion in spending cuts. but that's under dispute by the republicans because they include $400 billion cuts to health spending, $200 billion in nonhealth mandatory cuts and $200 billion in discretionary cuts. the plan would save monies by adjusting the way a lot of benefits are dealt with including social security and how it's calculated, the so-called consumer price index. but the white house counts $290 billion of saved interest and republicans who want a o...

>> steve: the president later today will meet interestingly with union leaders and business leaders, tomorrow he'll meet with ceo's and congress and try to avert the fiscal cliff. what do you make of the meeting with the union guys? >> i got a huge beef with this. unions represent only 8% of sec. there is no way in the world they should be the first ones up. by the way, this is all look just like his jobs council. nothing but academics, union leaders and gigantic businesses. where is the small business? guys, let me tell you, businesses with less than 50 please created 13,000 jobs. where would...

determines their success in life. then we'll have a bunch of people sitting on a couch waiting for the next government check. >> that's new jersey's governor chris christie. he's endorsed governor mitt romney for president. who knows, the two could be running together against president obama in the fall if romney taps christie to be his vice presidential candidate. threats to hard work is hardly a new issue for president obama either. it was a central team in the kansas speech the president used to lay out his economic agenda at the end of last year. listen. >> for most americans the...

believe this is a place where only their willingness to work hard and to act with honor and integrity and ingenuity determines their success in life. then we'll have a bunch of people sitting on a couch waiting for the next government check. >> that's new jersey's governor chris christie. he's endorsed governor mitt romney for president. who knows, the two could be running against president obama in the fall if romney taps christie to be his vice presidential candidate. threats to hard work is hardly a new issue for president obama either. it was a central team in the kansas speech h...