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And without a change of policy, these intolerable conditions will get even worse. >> inflation flared again last month, almost doubling the rate of the month before. >> in 1967, inflation was 2.9%. last year it was 12.4%. >> people were afraid. people had begun to think that america was in a kind of relative decline. >> we had high unemployment and high inflation. which at the time was thought to be impossible under the existing economic orthodoxy. it required something new to change that problem. >> if we can lower the rate of increase in government spending, up there ahead is daylight. >> to...

Everybody but they have to find offsets. offsets are the way to pay for them so you don't blow a big hole in the deficit. they don't have a solution yet. we'll see the legislation next week. as we speak, they're meeting in the capitol and they're trying to hash out a way to actually close some loop holes, pay for it without losing republican support. that's where they are. >> neil: an uphill battle to put it mildly. thanks, susan. we're finding out more about the cvs deal in talks to buy aetna. it would give aetna a market value of $53 billion. the two have been kicking each others tires. whet...

>> if we can lower the rate of increase in government spending, up there ahead is daylight. >> today we have found 72% of the savings that we would have to achieve in order to meet that $53 billion reduction target. >> reaganomics was if you give what they call the investing class, the money, then it would trickle down to the bottom of the pile and cutting taxes would increase revenues. >> the president spent the day deal with brush fires on the right and left of his new plan for the economy. the cuts he wants to make in the budget and in income taxes brought out into the open some disagreemen...

Up there ahead is daylight. >> today we have found 72% of the savings that we would have to achieve in order to meet that $53 billion reduction target. >> reaganomics was if you give what they call the investing class the money, then it would trickle down to the bottom of the pile and cutting taxes would increase revenues. >> the president spent the day deal with brush fires on the right and left of his new plan for the economy. the cuts he wants to make in the budget and in income taxes brought out into the open some disagreements among his supporters and his opponents. >> reagan says cut bac...

Elderly, the children, the sick, and the poor. that's what this is about. this is about massive, massive, massive tax breaks to the top 1%. trump has 3 trillion -- that's with a t, $3 trillion in tax breaks over a ten-year period that go to the top 1%. listen to this. this is unbelievable. the walltton family, the wealthiest family in this country, would get a $53 billion tax break as a result of the repeal of the estate tax at the same time as they're going to throw millions of children off of health insurance. they're going to do away with the meals on wheels program. they're going to do awa...