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the dow is up 217 points, the reason, the jobs numbers for july was better than anyone was looking for. the total number, 163,000 jobs created last month. as you can see, the prediction was 100,000. we need about 125,000 jobs created per month, just to keep up with population growth. so this report does that. but look at the rest of the year. i mean, we haven't been able to clear that hurdle since march. it's been a really grim stretch. so there was a little bit of relief today. the bottom line is this. the american economy only has to add another 316,000 jobs to get back to where it...

The biggest question and what will be a fight, but i would rather have it be a discussion, is what are the bigger reforms we'll look at on the entitlement side of the budget and the tax side of the budget. which is where the biggest changes need to happen. we keep focusing on the discretionary parts of the budget, but that's not going to fix the budget. what's going to fix it is entitlement reform and tax reform. at the end of the year we have the fiscal cliff and the broad southwester which does not phase in. but hits all at once in a blunt way is going to hit and things like the fix for medi...

Mitt romney is running totally on his biography and not his ideas? >> i think it helps. you cut marginal tax rates and conservatives t and mine does too. >> there is a heart there. >> it is in a way indicative of the problems. it is a matter of big ideas versus incremental changes. cutting the current tax code across the board by 20%, it is still the current tax code. it is just lower. i think there is more of a market than i think governor romney's team uh appreciates. there is a big political market out there for big change and big reform and big ideas and it is broken on the entitlement sid...

Parts of the tax code were eliminated there was the shot there, and then everybody walked away. why did you walk away? >> well i didn't walk away. i served on the supercommittee. on the supercommittee we heard a lot of talk from our colleagues on the other side, as well as the president, that they were willing to look at the entitlement programs, they were willing to have the discussion. it was a willingness for them it talk. but there was never a willingness to put a specific proposal on the table. i did put a proposal on the table. that reformed taxes, that simplified the code and lowered ma...

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