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Unemployment rate was 4.7%. getting jobs in the economy should be front and center, unfortunately, we have this deficit obsession that the washington beltway crowd has been pushing. on that score, i agree with most of what president obama said. it's absolutely right with social security, not contributing to the deficit, that's by law. it can't contribute to the deficit. medicare and health care, he made the point exactly right, the problem is, we have to constrain health care costs, the problem is the private sector health care system, not the medicare and medicaid programs. he talked about co...

Getting jobs in the economy should be front and center, unfortunately, we have this deficit obsession that the washington beltway crowd has been pushing. on that score, i agree with most of what president obama said. it's absolutely right with social security, not contributing to the deficit, that's by law. it can't contribute to the deficit. medicare and health care, he made the point exactly right, the problem is, we have to constrain health care costs, the problem is the private sector health care system, not the medicare and medicaid programs. he talked about constraining costs on his prog...

Stimulus bill back when the unemployment rate was 4.7%. getting jobs in the economy should be front and center, unfortunately, we have this deficit obsession that the washington beltway crowd has been pushing. on that score, i agree with most of what president obama said. it's absolutely right with social security, not contributing to the deficit, that's by law. it can't contribute to the deficit. medicare and health care, he made the point exactly right, the problem is, we have to constrain health care costs, the problem is the private sector health care system, not the medicare and medicaid ...

Military spending. >> let me ask you this. it does seem like you know, out of almost out of nowhere, this deficit obsession has kind of captured the imagination of sort of elite policy circles. what do you put your finger on as the cause for that? >> you know, it's years and years of propaganda from the conservatives, pete peterson was instrumental in getting this -- he's a wall street mogul who has spent a lot of money. >> a billion dollars he's pledged. >> promoting the idea that deficits were going to kill us and then you have this international consensus in europe and elsewhere that cuttin...