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Hundreds of billions deeper. and here s what s interesting, and by the way, the rationale is very clear. i ve written a letter to leon panetta and released it today. because leon it s fascinating. he announced we can t cut the military any more than we ve already committed to because we can t make a mistake of hollowing out the military. we hollowed after the military after world war i, world war ii, and the korean war. who was the president after the cold war? bill clinton. yeah. who was his budget director? leon panetta. this is the greatest confession in america that he hallollowed out. the budget was balanced on three-legged stool, military cuts, tax cuts, and spending restraints. can you give me any example in the last 20 years when we had a national interest in using military force and it wasn t available? because i think the answer is no. no, absolutely not. ....
What s your outlook for those two pieces of legislation? well, it s got to happen. there s no way in the world we re going to allow this big tax increase to take place on working people. the payroll tax holiday as proposed by the president, i think is a good way to go. it looks as if the senate is not going to approve a surcharge on millionaires or on income above $1 million. but i think what we ought to do is take a look at what cbo has done with the overseas contingency account. i don t know why we won t use that as not just for the payroll tax extension, but for unemployment insurance, as well. as well as doing the sustainable growth rate. we keep you know we ve got to fix that. if we don t, next year you would see a big decrease in reimbursement to doctors and you ll have more doctors leaving ....
Personal. i don t know newt well enough personally to have any i don t have any grudge against him. he s pretty darn good to me professional, his management style is about as bad as anybody. coburn s comment this side of barack obama, of course. coburn s comment was so remarkable, i thought. so direct and so pointed from a senior senator about somebody who may well be the nominee may well even be president saying he couldn t support him and wasn t sure if he could support him if he ran for president. it s remarkable but there are a lot of people out there who worked with newt with strong feelings and they ve stayed silent. it s hard to find many people that worked with newt back during the house days that would support him now. we re going to play that coburn bite coming up in must reads. mike allen, thanks so much. mike, the author again of playbook 2012, the right fights back. had let soon your kindle. any device, your ipod. ....
About the president. what s your sense of the state of the relationship the white house has with the business community? i think that the basic problem is the president has hurt their feelings. one of the things i ve discovered in my years, or came to realize is one of the most important things people want from those of us in elected office is psychic income. they want to be told is that what they do is not only profitable but socially valuable. that they re good people. and i ve tried not to demonize people. that s easy to do. very few of them are bad people. there are people with whom i disagree. and i think that goes back to what we were saying earlier. i do think if you look at the public policies the president has advocated, there s no good reason for this business of hostility, and i think it s a couple of comments that are hurt feelings. as far as my being able to work with them. my position on financial regulation and other things is close to the administration. i had very go ....
Empty, half full. the economy is better than it was than when the president came. if we want to look at other charts, we can look at consumer confidence. you will remember, we talked during the debt debacle about how it was the biggest drop in consumer confidence over two months. after every disaster except for katrina, bigger than 9/11 and so forth. you ve now had this rather very sharp increase back up to 56. so this is good news. because consumers are, again, feeling a little bit better about things and so, of course, congress does something else to make them feel less good. but for a moment, feeling more optimistic. you can see that in the holiday sales numbers. holiday sales numbers may be up. what about auto sales? i always cheer on and congratulations on what you re part of it he s the car czar. i know he s a car czar. i m one of these guys i m my dad s son, when ford and gm are doing well, i m feeling better about america. when detroit s doing well, i m thinking there ....