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Republicans who are interested in defending defense spending. who have been preaching for the past several years how important it was to protect that, to isolate it away from any cuts. and those republicans, while they still occupy the leadership and still hold positions of power don't necessarily represent the base, for whom the financial crisis is really their equivalent of 9/11 now. really the single way they analyze policy. >> i buy that the new generation of republicans don't care that much about defense spending, i think you're right about that. but going back to the sequester. >> sure. ...

It was about $700 billion, way more than double. now, here is something else kind of amazing. that is a bigger increase in total in spending than we saw in either the vietnam war or the cold war, and here is where it left us. we're spending more than china, the uk, france, indiana, saudi arabia, india, and canada, combined. we're spending more on our military than the next dozen high spenders combined. our wars, now, however are ending. officially the war in iraq is over. the war in afghanistan is drawing down, osama bin laden is dead. spending dropped somewhere between 43 and 33%. now speak a...

Also believe very strongly, the key is entitlement spending, not all spending is created equal. the medicare, social security spending, the white house would be able to get into those programs. but they are not without going outside of the boundaries of the sequester. so what about the rest of that? >> the problem is you have to have an assumption of competence on the conservative base, the republicans as a whole, when it comes time to negotiate with the white house they will come out with a better deal. and i think that frankly the base believes they're not capable of doing such a thing, they...

The oscars to me, and so it qualifies as the best new thing in the world to me. it is time for "the last word" with lawrence o'donnell, have a great night. and the oscar for best performance for people who claim to hate the government but secretly can't get enough goes to -- hold on, this is very exciting, america. >> these cuts do not have to happen. >> mr. president you got your tax increase. >> with four days until the sequester deadline. >> both sides are laying the groundwork to see who bleeds. >> the idea here is to fix the problem. >> both sides bought into this plan. >> there is no l...

I don't understand why liberals would prefer to fund the government through a mechanism that hit charities, the housing industry and high tax states than by cutting defense spending. and i don't understand why republicans prefer to cut defense spending than to hit charities, high tax, mostly through blue states that get subsidiz subsidized. the sequester is bad policy, terrible economic policy. i would like to get rid of it altogether. but if we keep it, we absolutely have to give the agencies the ability to make decisions about how to make those cuts. but if we did that, and we can't get rid ...