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First, if we had attempted deficit reduction as the first step, the likelihood is that we would be looking at a much weaker economy and as a consequence, ultimately we'd be looking at much larger debt problems. >> david walker is the founder and ceo of the come back america initiative. the former u.s. comptroller general, he believes very strongly in deficit reduction and debt control. david, unemployment, around 9.4%. is this a realistic time to tackle the deficit? or do we still have to wait longer before we start cutting across the board and handling the deficit and finally bringing down th...

First, if we had attempted deficit reduction as the first, as the first step, the likelihood is that we would be looking at a much weaker economy and as a consequence, ultimately we'd be looking at much larger debt problems. >> david walker is founder and ceo of the comeback america initiative, former u.s. comptroller general. he believes very strongly in deficit reduction and debt control. david, unemployment around 9.4%. is this a realistic time to tackle the deficit? or do we still have to wait a little longer beforehandling that deficit and bringing down the debt? >> we need to do two thin...

Guys got in it would be huge news. what is the likelihood? >> reporter: well i think they are in two different places. from paul ryan's point of view he's the idea guy for the republicans when it comes to debt control and budgeting and awful that stuff. what you're hearing from congressman ryan in this is frustration. he wants attention paid to his ideas, he wants his budget plan front and center. when he says he's thinking about the coded message to mitt romney and rick perry is, hey guys, take a look at me, it's time to get my idea in the mix because i could come in here and mess this whole ...

National defense and cutting taxes it has a role. we don't talk about the role of government anymore. just cutting taxes and debt control. that's all we do anymore. >> chris, did anyone mention the word jobs today? >> that's a question, too. >> that's the other thing. where are the jobs? for either side we've gotten off on the track of deficit reduction over everything else. >> here's my question, more fundamental, getting to that point. i want to bring this back home. you guys both know a lot about economics. it's simply this. if wep had the balanced budget amendment now, nirvana, basically r...

Government anymore. just cutting taxes and debt control. that's all we do anymore. >> chris, did anyone mention the word jobs today? >> that's a question, too. >> that's the other thing. where are the jobs? for either side we've gotten off on the track of deficit reduction over everything else. >> here's my question, more fundamental, getting to that point. i want to bring this back home. you guys both know a lot about economics. it's simply this. if wep had the balanced budget amendment now, nirvana, basically reducing government to 20% of gdp. cutting it from 37.75 positive 3.0. the differen...