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You're so wrong i'm not going to let you talk. >> let mr. steele finish. >> let me tell you where you're wrong. deal with it. >> i will deal with it. >> the reality of the facts are that -- >> the reality of the facts? >> the real facts, bob, okay? are that this administration spent $5 trillion. >> that's wrong, that's wrong. a lot of it is automatic stabilizers. >> let me finish my point. >> it's a lie. >> it's not a lie. the debt was $10 trillion on the day he was inaugurated. what is it today? almost $6 trillion. who spent that money? who spent the money? >> because of the bush economic col...

Fiscal pact that would argue countries must not run deficits of more than 5% of gdp and may not exceed deficits of government spending of more than 3%. if they do, automatic stabilizers will kick in to punish them. it's a fiscal pact. it is not a full treaty change and what it also isn't is the big ba suk ka that would stabilize the debt markets. having said that, we are higher on the european indices broadly on this so markets not that disappointed. back to you. > should be a fascinating day in brussels. geoff, thanks so much. still ahead on "way too early." albert pujols arguably the best pl...

>> is that how they say it when they say that? they bob their head. >> mainly what happened was the baseline was a lot worse than anybody thought. it wasn't the impact of the recovery act. but look, joe, here's the thing. i kind of don't agree with you that it's all going to be about the recovery act because that's three years ago. >> about jobs. >> i think fundamentally what the country's got to develop is a growth strategy. if we're not growing for the people who think that the deficit is crucially important. if we're growing at 1%, like we have been so far this year because of the oil price...

>> the reality of the facts? >> the real facts, bob, okay? are that this administration spent $5 trillion. >> that's wrong, that's wrong. a lot of it is automatic stabilizers. >> let me finish my point. >> it's a lie. >> it's not a lie. the debt was $10 trillion on the day he was inaugurated. what is it today? almost $6 trillion. who spent that money? who spent the money? >> because of the bush economic collapse. it went into unemployment compensation -- >> all right, gentlemen, i'm going to have to call that a draw or draw that to an end. michael steele and bob shrum, thank you. remember to a...

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