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Has a health insurance policy gets hit with a $63-per-year, per-person charge. that's going to hit 190 million people. that is a charge to pay for pre-existing conditions, because an insurance company has to accept people who have a pre-existing condition, gotta pay for it. that has to be paid for, there's a higher medicaid tax that's going to pay for that. and then you've got fines for all companies which don't give medical insurance to their employees. alisyn: if, in fact, these senators do prevail and they have the medical device tax somehow spiked, then we have a budget problem. >> yes, we...

Make sure that the fair share is there. that it's not on the backs of the middle class. are you confident that you're going to be able to get a tax increase out of wealthiest americans? >> we are. the president was very clear and the american public spoke very clearly when the president said in his campaign from day one until the votes were counted that the rich had to pay their fair share. one of the things i was pleased with this week is harry reid made it clear that social security is not on the table. harry reid said social security is not part of the budget problem. it's not on the table....

Okay, i'd like to see that list. but labor is going to have to be the driving force on this to make sure that the fair share is there. that it's not on the backs of the middle class. are you confident that you're going to be able to get a tax increase out of wealthiest americans? >> we are. the president was very clear and the american public spoke very clearly when the president said in his campaign from day one until the votes were counted that the rich had to pay their fair share. one of the things i was pleased with this week is harry reid made it clear that social security is not on the t...

But labor is going to have to be the driving force on this to make sure that the fair share is there. that it's not on the backs of the middle class. are you confident that you're going to be able to get a tax increase out of wealthiest americans? >> we are. the president was very clear and the american public spoke very clearly when the president said in his campaign from day one until the votes were counted that the rich had to pay their fair share. one of the things i was pleased with this week is harry reid made it clear that social security is not on the table. harry reid said social secu...

Mostly a result of.... >> government spending. government spending. so that is clearly an area that doesn't create a lot jobs? >> obviously it's not sustainable. we have an immense budget problem and deficit problem. so when the government spends more money that it doesn't have, it doesn't help the economy very much. a big chunk was military but the other was services. businesses actually contrasted in the amount of spending they did so, contracted. and net exports went down. >> jamie: so what do you expect in the fourth quarter? where do we go from here? >> if we look why did businesses contr...