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Out of the economy. for the long-term when people say correctly, we have a serious, long-term fiscal problem, the cause of the problem is that if we don't do anything the debt will rise faster than the economy grows. and ultimately we'll have to pay so much in interest payments, we're in big trouble. but what we need to do to prevent that is to keep the debt stable. to keep it from rising faster than the economy grows. and to do that you need deficits below about 3 or maybe 2 and a half percent of the gross domestic product each year. you don't need the deficits at zero. you don't need the bal...

Bargain? >> well, it depends on whose math you subscibe tompt >> nonpartisan. >> the cvo has one and the white house has theirs . others say it adds 600 billion in revenue and cuts the deficit . >> no. you are subtracting the tax hikings. they took that into consideration. that didn't negate it? >> o&b calculates it differently in terps of what is deficit cutting and what is not. we have a serious fiscal problem. everybody understands that and in dealing with entitlements, the president acknowledges something should be i am not talking about raising rates. that is difficult . ine closing loop ...

He hopes everyone gets a chance to drink some el nog, sing some christmas carols and get with their constituents to aeu to tell them they can get something done. all this will only cut $8 billion as opposed to the $4 trillion. can't america do better th-pb. >> the discussions have been focused entirely on taxes. even if you adopted all the president's tax cuts -- tax increases that he wanted it would do so little to touch our long-term fiscal problem. it really needs to be entitlement reform and it's really a tragedy that everything has been focused on taxes when entitlement reform is really w...

Solve our country's debt problem, frankly, revenue problem. as you can see from this chart, real revenue growth is critically important, as long as real cuts in spending, if we're going to solve our long-term fiscal problem. as i said five weeks ago, the election wasn't a mandate to raise taxes on small businesses. it was a mandate for both parties to work together, to take on the big challenges that our country is facing. republicans are ready and eager to do just that. we made a reasonable offer. it's now up to the white house to show us how they're going to cut spending and give us the bala...

Paul ryan's going to want to make, we've got a serious fiscal problem on hour hands. some people in washington pretend not to notice that but trillion dollar deficits year in and year out, debt that has reached 100% of total economic output this is unsustainable. paul ryan put a plan on the table. you don't have to necessarily agree with every last element in there t. but acknowledge it is a thoughtful, thorough, comprehensive plan that gets our economy growing and puts on a path to balance. where's the president's plan? his plan is so unserious not a single democrat in either the house or the...