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You raise the taxes $650 billion right away. >> yeah. and that was a very good thing to do on people making over the high end in our population. so here is the thing, though. we are here to have a budget that has revenue coming in that has investments made into the future. we also want to make decisions in those two areas where growth with jobs are created because more are jobs more revenue coming in. nothing brings more money to the treasury of the united states than investment in education of the american people. so we have to recognize that. which cuts really help us and which cuts hurt our...

You raise the taxes $650 billion right away. >> yeah. and that was a very good thing to do on people making over the high end in our population. so here is the thing, though. we are here to have a budget that has revenue coming in that has investments made into the future. we also want to make decisions in those two areas where growth with jobs are created because more are jobs more revenue coming in. nothing brings more money to the treasury of the united states than investment in education of the american to recognize that. which cuts really help us and which cuts hurt our future and cuts in...

Will you give him more money. >> absolutely not. you already have $650 billion in new tax revenues that have been paid. the president wants to continue down the path of insinuating taxpayers have got to put more money in when the problem is spending. the problem is spending here. we've got to get a handle on it. that's why we're asking this president. we want to work with you but lead. help us and join us and lead this country out of this deficit spending mess. >> the president's tone today, dour, threatening in terms of what may lie ahead. you struck a positive tone today in an attempt many s...

Altered only by raising taxes and that is not going to happen. we j a $650 billion tax increase we are not going to do another one. these were cuts in law and they need to be altered. the president in his debate with governor romney said the sequester will not happen, and he's got to step up and help us work our way through that, because it does cut too much, in my opinion, the defense department. they've already had a big cut. this will be another big cut. and i think it's dangerous for the defense department and will do damage in a way that we should not do. bill: i mentioned the senate hasn...

Rounds of deficit reduction worth reviewing. back in 2010 and '11, they put a bunch of continuing resolutions or kind of spending caps onto mostly discretionary programs. in 2011 when we had the debt ceiling debacle, they agreed to the budget control act which was another billion dollars, roughly, of cuts. again, mostly from if not entirely from discretionary programs. and then, of course, we had the fiscal cliff which was $650 billion of revenue increases. so so far, we've actually had $2.4 trillion over a ten-year period of deficit reduction. but about 30% of it has come from rev lienue incr...