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>> david, let me help illustrate what you're talking about. we do have a graphic that we can show of the house defense budget. well it's actually the next one that i wanted to show because the one i want to show i need your help with the math here. this -- let me show you something. the house gop budget on defense is to the left side. the white house defense budget is to the right and these things look strikingly similar to us. for defense, 523 billion the house wants. the house wants 520 billion. the white house wants 51 billion. you end up with the same point 613 billion versus 612 billion. ...

Late, and that is from a democrat. california congressman dennis cardoza, a long time critic of the administration, says this, it's far too a little, it's just baby steps. they're still not getting it. cardoza said the housing collapse is a leading cause of the recession but the last issue to be addressed by washington. more on that coming up in a great fair and balanced debate with bob and andrea on deck on that. martha: debt is such a burden to some states in this country that they are digging a deal hope to try to stay above water. how deep? look at this report that came out this morning. i...

Ceiling is $3.7 trillion. deficit $1.1 trillion. many economists saying that is far too high. also rather embarrassing that the president's own debt commission says he is not doing nearly enough to solve the financial crisis in america. tonight talking points hits a very simple strategy. the u.s. government must go back to 2008 and spend the same amount of money that it did before the recession hit. the budget in 2008 of the $2.9 trillion. $2.9 trillion. almost a trillion dollars less than the 2012 proposal. the deficit in '08 was $458 billion, 60% lower than the projected deficit in '12. let'...

Is little competition and discipline imposed on the industry. fraud is through the roof. social security payments in '08, $612 billion. in '12, $761 billion. this can't go on. the age requirement has to be raised. president said today that he is taking a scalpel rather than a machete to the budget. we can't afford the 2012 budget. let's go back to 2008. simple formula. doable. and it must be done. that is the memo. reaction from lou dobbs in a moment. first our barack and a hard place memo. another brilliant memo. >> i think you are on the right track. >> right track? >> yeah, but i think ther...

Social security payments in 2008, 612 billion. in 2012, 761 billion. this can't go on. the age requirement has to be raised. the president said today that he is taking a scalpel rather than a machete to the budget. i'm not getting that the country is in dire financial trouble. it can't afford the 2012 budget. so, let's go back to 2008. simple formula, doable. and it must be done. and that's the memo. now for the top story tonight, reaction from lou dobbs in a moment. first our barack and hard place duo. dr. monica crowley and alan colmes. another brilliant memo you are down with all of it, rig...