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Fuel prices which is obviously a hot debate in the election are cheap. we're dealing with $10 a gallon in europe. and i say cheap and it's all cheap overall when you think of the environmental impact. i think what we are, and i hate to say this, but it's this addict mentality, like trying to find these little areas, these pockets of oil that we can exploit. and i know the cries will be this creates jobs and this is going to lower gas prices, but i think it would do more to the gax prices by taking the speculation ut of the gas market and the oil market and the trading on that side that obama h...

expected to roll out a plan to cut spending by $2.7 trillion while raising the debt by 274 trillion. reid's plan would not include tax increases which republicans refuse to consider nor would it touch entitlements. my colleague, dan lothian is watching it all from his post at the white house. dan, what is the president's position first on raising the debt in installments? >> reporter: he want it is to go through 2012 and there is a sense at the white house and treasury department in particular even if you had some sort of short-term fix that raises the debt ceiling through the rest o...