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Wants higher taxes and he wants a vote through the election. this plan doesn't have that in it. so, it is a situation where no side gets all they want this is a responsible plan that addresses the urgency of trying to make sure we avoid default, which i knee we will. but then, it sets -- i know we will. but then, it sets in motion a process for real cuts so we can live up to our obligation to the people that sent us here. >> as you heard from the speaker and the leader, this plan is not perfect. it shows a great contrast to what the president has laid out. the president continues to pick polit...

Higher taxes and he wants a vote through the election. this plan doesn't have that in it. so it is a situation where no side gets all that they want. this is a responsible plan that addresses the urgency of trying to make sure we avoid default, which i know that we will, but then it sets in motion a process for real cuts so that we can live up to our obligation to the people that sent us here. >> as you heard fromç the speaker, the leader -- >> to luke russert we go for reaction to very brief comments, nome from john boehner, speaker of the house, but eric cantor as well. between the two of ...

Illinois. i want you to go through a couple of details for the bill you're voting on. i read through the text. here's what i learned. the plan doesn't say exactly what exactly has to be cut, but it has a special exemption for war on terrorism spending. the cap reduces spending to 19.9% by the year 2021, ten years from now, and both the house and senate would need a two thirds vote on a constitutional amendment to balance the budget. and if the house and senate both did not get the two thirds vote, the debt ceiling could not be raised let me ask you the most fundamental question. your side, let...

Party are making progress towards a bipartisan plan. but that's not stopping the rnc from putting out a new ad today, slamming the president and the democrats about a hallmark concern of reform efforts, the failure of either party to end too big to fail. >> step right up. step right up. enter the wacky world of obama's financial regulation fun house. a land of illusion. >> the ad goes on to slam the president for supporting what republicans call a $50 billion permanent bailout fund. remember, the republicans' plan is essentially, let them fail. they have no solution. although the bailout two y...

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