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The fiscalicy in order and his popularity would be sky high. >> and the federal revenue, 2.7 trillion dollars, the highest ever federal revenue and why are we in such tough shape. and the building debts that we've had and the debt service, but what happened? >> here is the reason why, you're right we're going to have 2.7 trillion dollars in revenue burr our outlays are 3.553, this is cbo yesterday. >> we don't try to cut back at all. >> that's after sequestration. >> greta: that's after the sequestration. >> after the sequestration cuts and assuming you get credit for all of those in this year...

The fiscal policy in order and his popularity would be sky high. >> and the federal revenue, 2.7 trillion dollars, the highest ever federal revenue and why are we in such tough shape. and the building debts that we've had and the debt service, but what happened? >> here is the reason why, you're right we're going to have 2.7 trillion dollars in revenue burr our outlays are 3.553, this is cbo yesterday. >> we don't try to cut back at all. >> that's after sequestration. >> greta: that's after the sequestration. >> after the sequestration cuts and assuming you get credit for all of those in this ...

Out of control, and we need deep cuts in the entitlement programs. the figureheads for fix the debt are these guys, the austerity brothers, erskine bowles and alan simpson, and believe me, they don't have to worry about their retirement being lost or their pension or their health care. now the current issue of "the nation" magazine reports peter timed the launch of this new $60 million campaign to exploit the wrangling over the fiscal cliff, the debt ceiling and the sequester, the misinformation campaign has worked. a bloomberg poll on the size of america's budget deficit shows 62% of american...

>> she out training on that. >> and the consensus around that. >> if i were a democrat, i would acknowledge a spending problem just for the politics. it seems crazy not to. $845 billion sounds better than 1.3 trillion. you get a b in there. billion. anything if the billions sounds better than the trillions. it has to be recognized. the three degrees of separation. i guess he has cut outs there. >> he's got two or three people on his side. he claims to have more, but other people he claims to have agree that deficits are not the problem. the long-term debt is the problem. >> jobs are the proble...

Now, are the middle class going to get? >> they have to to get serious revenue. he is talking about we will tax corporate jets and oil and gas. that raises about $3 billion a year. the deficit next year according to the congressional budget service $845 billion. they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure...