Detailed text transcripts for TV channel - CNN - 20100718:16:30:00
The bush administration. we've adopted pay-go, which simply says we're going to pay for what we buy. secondly the president, when the republicans in the congress wouldn't support a deficit reduction commission that they originally proposed and they didn't support, the president appointed one himself. mr. bowles was mentioned previously by mitch mcconnell and senator simpson are working together to try to in the long term bring this deficit down. thirdly, the president submitted a budget which frees his spending at last year's level. we've gone $7 billion better than that in the budget enforcem...