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Welcome back, everyone. we, of course, are watching the conclave very closely as we speak. 115 cardinals, they are in their fourth vote for pope right now. we have our eyes on the chimney on top of the sistine chapel looking for any signs of smoke. if a few minutes ago there was actually a bird sitting atop the sistine chapel. we do not know what that means. black smoke, white smoke, we know that what means. birds, we're not so sure. meanwhile on capitol hill, the dueling budget plans that everyone is talking about. former republican vice presidential candidate paul ryan introduced his plan ...

Voted on a plan yesterday, but david, you have to start some place, and the problem is that the democrats don't want to start where you need to start, and that is having an honest conversation about what are are you prepared to cut, david corn? what are you prepared to cut, president obama? what are you putting on the table? we have given you $16 billion in january of new revenues with no cuts. so show me some cuts, and then we can start about how serious you are. >> let me tell you something, 16 months ago the president against the desires his own party put things on the table, change the cpi...

On the side of what the republican republicans get, the republicans get the tax rates they want, the medicare cuts they want, the trillion dollars in spending cuts president obama agreed to, hundreds of billions in additional cuts, ending the payroll tax break, ending jobless benefits and they get the opportunity to create a new debt ceiling crisis in a few months. that's on the republican side, what the republicans get in their proposal. what do the democrats get in their proposal? they get this. a promise to end undefined tax deductions and loopholes of some kind at some point maybe next yea...

Cuts president obama agreed to, hundreds of billions in additional cuts, ending the payroll tax break, ending jobless benefits and they get the opportunity to create a new debt ceiling crisis in a few months. that's on the republican side, what the republicans get in their proposal. what do the democrats get in their proposal? they get this. a promise to end undefined tax deductions and loopholes of some kind at some point maybe next year. ta da! a fair and balanced middle ground. >> unfortunately, the speaker's proposal right now is still out of balance. >> yes. balance. here's the amazing pa...

Hundreds of billions in additional cuts, ending the payroll tax break, ending jobless benefits and they get the opportunity to create a new debt ceiling crisis in a few months. that's on the republican side, what the republicans get in their proposal. what do the democrats get in their proposal? they get this. a promise to end undefined tax deductions and loopholes of some kind at some point maybe next year e. ta da! a fair and balanced middle ground. >> unfortunately, the speaker's proposal right now is still out of balance. >> yes. balance. here's the amazing part, though. after congressiona...