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That, okay, now we're done with taxes. we're done with revenue, and we can focus on spending cuts. the american people have made it very clear that they want a balanced approach. >> but are you saying that you're not done with taxes? >> we are absolutely not done with making sure that any deficit reduction has revenue and spending cuts. and we'll also need to look at entitlement reform. president obama knows and has proposed in his grand bargain $4 trillion deal, remember, he proposed another $360 billion in savings for entitlement programs, which we'll have an opportunity to look at as well. ...

Hikes we have ever had in the history of the country. gregg: right. and the hard place? >> yeah. the hard place is the negotiations. you think about it. reid and pelosi and boehner and obama all trying to come to an agreement? that seems almost impossible, doesn't it, when you know all of them? gregg: how do you close the tax gap? >> yeah. right now you can not do it. so the tax gap, at least in my opinion, would be the deficit. it's over a trillion dollars. if we raise everyone today, that pays the top tax rate, 35%, if we taxed them at 100% on all the money that they currently pay 35% on, an...

>> chris, hail by barbour mentioned tax reform. that's what he would exchange in increase on the tax rates. that is on the table. president obama has repeatedly said as have congressional democrats, we need to deal with tax reform. look at the things that democrats have said need to be a part of this deal and agree should be paurt of this deal. significant spending cuts. making sure that we're not jeopardizing our future by, you know, putting in dramatic cuts to education and health care and innovation. we've got to have balanced spending cuts. we have to make sure we bring savings out of enti...

Like in the affordable care act which added eight years of solvency to medicare. we have a chance to do that well. >> whether you say entitlement reform, are you talking about raising the age that one would qualify for medicare? are you talking about changing the means testing for social security as well? >> first of all, social security is a separate issue unrelated to the fiscal cliff discussions and is not part of this discussion in my opinion. when it comes to the savings that we're able to continue to glean out of medicare, we can do that through the $360 billion that is in president obam...

The country needs for reform. call it a dream act or achieve actth they have having the conversation. everybody agrees there is common ground like children of undocumented aliens that went to school here and consider themselves american. want to be legal residents. citizenship we talk about that later. new day and new year. we are going to move forward. >> eric: this is unbelievable. retractible issue. you threw out topics. how do we the problem when we have undocumented people here and they aren't going anywhere? >> do the math. 12 million people. $1,000 a year in the social security system i...