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He wanted tax increases 250,000 or more, we wouldn't close this year's budget deficit. if about we took the 100% of the income of people, wouldn't close the deficit and what are they going to cut? >> they've already cut and even in terms of the budget, the congress and the president agreed. >> what are they going to cut? >> stop, what are they going to cut. >> and medicare, change cpi, social security, these are cuts, but i think you're locked in the mindset that says now what, we want specifically to cut only here or cut the steak over there. >> sean: juan, this is an important question, they...

Major entitlements, medicare and medicaid, social security. >> any real cuts-- >> those aren't real cuts, eric. >> sean: and let me ask eric a question. and the republicans are going to spend 3.4% more every year, every year they go up they will spend more money, 3.4% a year. >> right. >> sean: how can the democrat like obama go out and he's already back to the same predictable, boring, o'lynnski talking points and a broken record that we're going to hurt the children and the granny ad is already out there. if spending more money every year, how do they call that a cut? i'm trying to figure ou...

Is doing something that we support and is a big deal, yeah, that's cause for cheer and i think it's reflected in the stock market. >> brenda: okay. >> particularly this week. >> brenda: toby, spending cuts kind of, wall street rally, go together? >> you know, it's part of it. let's look at the bigger picture here, the same time we have the sequester happen we have the representatives pass a six month exexpended spending bill and essentially wipe out many or small parts of that spending. at the same time, you haven't with the pieces-- everybody is excited about spending cuts and six months of o...

And people waiting jumped in with both feet and legs. >> brenda: that's usually a sign that things are going to start going down. we'll get to that in a minute. but jim, wall street watching washington and headed higher? >> stocks don't care about washington. this market's been moving higher for the last three months, the last four years, stocks don't care about the dumb arguments that washington keeps having, if anything, they like them a little bit. i mean, at least you're talking about spending cuts and that's a positive. and the fact that everything in the world didn't fall apart when they...

There's a lot of of hard work and patience by the american people who had to wait too long for this. >> brenda: gary b, i always heard that men were responsible for all the pain of childbirth. (laughter) >> a different perspective, brenda. >> brenda: we are on cable, but, all right. gary b, are spending cuts responsible for this rally? >> i think so. certainly this week. you know, a lot of times we talk about things on the show that, you know, maybe a little bit inside baseball. maybe a little bit a wall street centric or capitol hill, but in this case sequester-- there's not a person out ther...