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We want to have smart deficit reduction. we want to grow the economy. we want budget process is the way to do that. >> we believe we can find common ground. >> the government had just been open for hours when the leader of the budget conference committee met to start working on a deal by a december deadline to avoid another shutdown. will washington learn its lesson and finally reach a compromise? joining us from chicago the number-two democrat in the senate, dick durbin. here in washington, a member of the republican leadership roy blunt of missouri. senators, welcome back. before we start, l...

>> david, what do you think of this? >> i'll go back to jonas' point in approaching the budget both with revenue and spending cuts, and i though what the real debate is with the finance committee chairman -- with chairman baucus and senator hatch along with reid, look, don't give me reform if it's revenue neutral. give me reform that's revenue generating so we can, as we have in the last two months, brought down our budget deficits by generating additional revenue to the tune of closing loopholes of $975 billion, goes to reducing the deficit. if we're going to have tax reform with closing loop...

Trillion of deficit reduction and half come from taxes and the balance come from spending, 975 billion from spending. a vast difference in size and significant difference in priorities. if you try to break down those priorities and look at some different categories of spending, you can see that in the discretionary side, this is the stuff that the sequester effects. ryan wants to cut 1.2 trillion which is 3 billion more than the sqester. party murray wants to cut 600 billion less than the sequester so the democrats the to store 600 billion of the sequester money. the democrats want 100 billion...

Democrats' budget version. ending some of the breaks by closing loopholes, cuts in domestic and defense spending. new spending on infrastructure and we have a graphic of what the budget has, some elements in it. $975 billion revenue increase. $975 defense spending cuts. interest savings as well. $100 billion for road, bridge repair and working training. what do you make in broad strokes? >> another trillion drarz of tax increases on the heels of the president's health care law, a trillion in tax increases. take a look at that american taxpayers are saying that and right now money is being wast...

Big ticket items that mean a lot. democrats and the president just won't go near it the president came up to the hill today and met behind closed doors with republicans for the first time in no one can remember when. and they said it was a productive meeting, et cetera. the democrats look at the republican budget from paul ryan and they say it's draconian and it's not going to work and that the math is phony and everything else. republicans by contrast have to have a point. democratic proposal to increase taxes $975 billion in the next 10 years is going to make an economic recovery a lot harde...