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Taxes when they didn't cut? there's never been entitlement reform. it's a one-way street all the time. >> nancy pelosi said this, that revenue needs to be on the table in relation to discussions to soften the sequester cuts. >> of course. >> so the democrats are trying to soften those automatic spending cuts, and at the same time raise taxes. they don't cut spending as much and raise taxes. it's crazy. >> the last time we had a serious consideration of entitlement reform was simpson-bowles. and president obama turned the other way. >> adam talked about a business analogy. a business doesn't sa...

Because it got so close to the edge. and i think what i heard from them was that they have confidence in our economy, much as the business people i talked to have confidence in our economy. i think what we need to do here in washington is to go from the coming together on wednesday night where we saw a strong bipartisan majority do the right thing and make progress from there, show that we can work together. >> so one more economic question. a lot of republicans are calling about the fact that whatever drama was here that the sequester cuts have been locked in place, these automatic spending c...

Because it got so close to the edge. and i think what i heard from them was that they have confidence in our economy, much as the business people i talked to have confidence in our economy. i think what we need to do here in washington is to go from the coming together on wednesday night where we saw a strong bipartisan majority do the right thing and make progress from there, show that we can work together. >> so one more economic question. a lot of republicans are calling about the fact that whatever drama was here that the sequester cuts have been locked in place, these automatic spending c...

We know that from the shutdown there was a loss of economic activity. i can't give you a number today of what it is. i know the direction. the direction is it took an economy that is fighting hard to get good economic growth going to create jobs for the american people, and it took it in the wrong direction. our job in washington is to move things in the right direction. this one was a little bit scary because it got so close to the edge. and i think what i heard from them was that they have confidence in our economy, much as the business people i talked to have confidence in our economy. i th...

>> reporter: the president will launch action august with a series of speeches, two tomorrow, one the day after. he says his goal is for middle class families to feel secure and for those who are willing to strife to get into the middle last to have more ladders of opportunity. the patti ann? >> republicans are not waiting for the president's speech. they have a prebuttal. what are they saying. >> speaker boehner said welcome to the conversation, mr. president. we've been focusing on jobs all along. his spokesman is focusing a couple of statements of administration policy where the president's...