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Some of the worst political rhetoric telling middle class families if you have a down's syndrome kid they will be suffering. stop campaigning, mr. president and start leading on this issue of the deficit. alisyn: your critics have pointed out you are none immune to budget problems. state debt increased from $28 billion to $51 billion. >> i started out with a $5 billion deficit i inherited. my last budget had a $2.3 billion surplus. and we had the highest credit rating in 40 years in the state of new york. we reduced the state workforce by 15%. the debt went off at the rate of inflation. it was...

Prosecutors have simplified the case and prosecutors will play the wiretaps. >> i am left with gridlock and [blank] and a budget problems and a president all give. i have this think that is [blank] and i will in the give it up. >>shepard: the feds got blago on one count and he maintains innocence on all things. today is a year since the explosion on the oil rig in the gulf of mexico. it was a year ago today. disaster load to the worst offshore oil spill in american history. 12 workers killed. more than 200 million gallons of oil spilled into the gulf of mexico. now there are questions if drill...

Desperately need those things. whether you're in favor of bolstering national security on the one hand or shoring up entitlements on the other hand, you need the revenue that can fund those programs, but we can't have that when we hurt the economy by raising taxes. >> dr. greenspan, is that realistic? you're a part of many battle and budget wars. is it realistic? >> the data shows something very interesting about endeavoring to curtail budget problems with the attack tt we have. the imf, a number of well-known academics have all observed that if you'd have a disproportionate part of your budge...

>> the bottom line for me is this. controllers need to take personal responsibility for the very important job that they have. >> i'm going to talk with secretary lahood live in just a few minutes. well, stocks are diving sharply this morning. the dow is down now more than 200 points. you're looking at 220 at this moment. our cnn's phylicia taylor is at the new york stock exchange. tell us, what is going on? >> well, basically, what happened this morning is the standard & poor's rating agency lowered its outlook on the u.s. credit rating to negative because of our budget problems. i mean, it...

Without hurting jobs and economic growth, and we desperately need those things. whether you're in favor of bolstering national security on the one hand or shoring up entitlements on the other hand, you need the revenue that can fund those programs, but we can't have that when we hurt the economy by raising taxes. >> dr. greenspan, is that realistic? you're a part of many battle and budget wars. is it realistic? >> the data shows something very interesting about endeavoring to curtail budget problems with the attack that we have. the imf, a number of well-known academics have all observed that ...