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they're just beginning to talk. think of this, the president wasn't in negotiating, he was in detroit campaigning. the senator is right. this president needs to get off the campaign trail. the election is over. now it's time to govern. what's more important, what senator graham is talking about, the president has to start talk being spending cuts. we've already had two months of the new fiscal year. we're $292 billion in the deficit. there's some interesting numbers through there. revenues have increased $30 billion. they've gone up 10%. why that number is important is the president is able to raise the rates that he wants, he'll only collect $31 billion for the entire year, just on the rates. but the real problem is spending has gone up 16%, more than $87 billion. so we've got to start looking at, where are we going to cut spending? he wants to increase taxes to keep spending.
fiscal year. we already have a $292 billion deficit. but in those two months, revenues have increased by 10%. $30 billion. you only get $31 billion in the first year when you raise those two rates. but you know what the problem is? we increased spending by 16%, $87 billion. this is more about a spending problem, not a taxing problem. and that's the problem with washington. >> first of all, congressman, you threw out a number there, there are a lot of numbers that can confuse people. you talk about $31 billion. the reality is, over 10 years, based on documents i have seen from republicans, raising the top rates would get you over $400 billion in new revenue. so that is a fact that both sides agree on. >> david, in two months of this new pacific northwe new fiscal year, you have $10 billion in revenue but 16% increase in spending. it is a spending problem. and the president wants to increase taxes to continue the spending. he proposed a plan that put a
>> congressman, what do you say about that? >> let me tell you what the republican goal is, is to solve the problem, economic problem. and look, the numbers don't lie. we are two months into this fiscal year. we already have a $292 billion deficit. but in those two months, revenues have increased by 10%. $30 billion. you only get $31 billion in the first year when you raise those two rates. but you know what the problem is? we increased spending by 16%, $87 billion. this is more about a spending problem, not a taxing problem. and that's the problem with washington. >> first of all, congressman, you threw out a number there, there are a lot of numbers that can confuse people. you talk about $31 billion. the reality is, over 10 years, based on documents i have seen from republicans, raising the top rates would get you over $400 billion in new revenue. so that is a fact that both sides agree on. >> david, in two months of this
Detailed text transcripts for TV channel - MSNBC - 20121210:07:12:00 vimarsana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vimarsana.com Daily Mail and Mail on Sunday newspapers.
Detailed text transcripts for TV channel - FOXNEWS - 20121207:18:31:15 vimarsana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vimarsana.com Daily Mail and Mail on Sunday newspapers.