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You don't have to call at it tax increase. it will take time to do. that is where you get your scratch. >> bret: there is so much talk about taxes but little talk about spending or cut to spending. george will wrote spending the main culprit because the federal revenue is $2.6 # trillion. spending is $3.76 trillion. we're spending $987 billion more than we would be if we increased bill clinton's last budget for inflation. and population growth. >> you can't tax your way out of this hole or grow your way out of the hole and get double digit growth for 20 years. you can't cut spending out of the...

Mortgages with very low down payments, mainly for first time home buyers. annual audit released found the agency as you said, has a $16.3 billion capital reserve shortfall because of mortgages going bad. but the fha is down playing the possibility of a bailout. it says it expects to add $11 billion in capital from new business in the year ahead. it also announced a slight increase in fees today in some other new steps to improve its finances. it says it hopes all of this will put its capital position back in the black within the fiscal year. the agency says that should reduce the likelihood th...

Involved in scandals. i think he would rather be secretary of state. >> clearly, i think he is lobbying for that job. one that looks like is going to susan rice. either way it looks like it could open up a spot for scott brown to run there in massachusetts which we won't get into. if kerr is is the secretary of defense. what does it tell you about the direction of this nation's military. >> he has been against all these weapons systems from day one as you just played that clip. he was make the old joke about the 87 billion. he was for these wars before he was against these wars: it's very inte...

Congressional budget office is supposed to be this nonpartisan group. i mean, there's got to be another side to that story. >> they're the bean counters. they get the numbers from the administration, put those numbers into an equation and say, right, this is what's going to happen. and this is what they said. you tax the top 2% of income earners at a higher rate, get rid of the old bush tax cut rate -- megyn: yeah, but even just the rate that president clinton taxed? president obama says, okay, you going to go from 35 percent to 39.6, and that's what you rich people paid under president clinto...

What you have to do is raise the tax rates on the rich. secretary geithner who didn't pay his taxes when he was confirmed as treasury secretary, he's saying you have got to raise tax rates on the rich. he's upon board with the president to raise tax rates on the rich. if you did that you only bring in $87 billion a week. that's 10 weeks' worth of interest. that's his side of dealing with the deficit. it's not going to work. the debt keeps on going up and if it keeps on going up like this we'll be downgrade, bill. bill: the money you raise would not cover even the last 70 days, what you just ex...