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Years? i think we have to balance the budget if ten years, but that's going to be hard sledding, isn't it? >> it is. his previous budget, as you know, didn't even do it over a 30-year time horizon. he didn't deal with social security in his last budget. he of course, now, famously dealt with medicare with premium support. and that's the real issue. i spent time on capitol hill this week, joe, and where realms are adamant is they want what you've been talking about. they want some kind of entitlement reform. i don't think that you're going to see ryan go back to premium support, but he's going ...

But the cbo. the congressional budget office figures out exactly what something costs or how much money it may save. then the bottom line they need to find pay fors for automatic spending cuts that are due in the new year to defense and domestic programs. still a leading senate conservative says, he is weighing his options. >> you know, i want to see the details. and we'll see. so, you know, it's just we have gone through a lot in the meeting and i want to settle back and, you know, understand the details of it a little bit. we have the debt ceiling that's coming up soon. and i want to think a...

And many of the agencies can sort of fudge things for a few months, in most cases i don't think we'll see much impact of automatic spending cuts quickly. by the way, this has been somewhat underappreciated. in this small bore compromise that the president and many of the earlier interviewers talking about today. the one the president is pushing for, the sequester is pushed down the road. suspended. the automatic pay cuts as part of that deal suspended, something they would get back to and try to deal with later so if the president does get the compromise through, the senate and the house, then...

Colbert. >> everywhere you go you could see the twinkle in children's eyes because in just a couple weeks the fiscal cliff is coming to town. merry cliffmas. if the parties here cannot agree to a budget deal by january 1st, automatic spending cuts will kick in and plunge america into a second recession. and things are not looking too good. >> democrats and republicans are blaming each other for the negotiations. >> who's going to blink first? >> who's going to blink first? >> the white house is daring republicans to blink. >> obama is daring republicans literally to blink. the joke's on him be...

To town. merry cliffmas. if the parties here cannot agree to a budget deal by january 1st, automatic spending cuts will kick in and plunge america into a second recession. and things are not looking too good. >> democrats and republicans are blaming each other for the negotiations. >> who's going to blink first? >> who's going to blink first? >> the white house is daring republicans to blink. >> obama is daring republicans literally to blink. the joke's on him because i know some republicans who have had their eyelids surgically removed. also, what caused former indiana senate candidate rich...