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Everyone is screaming about deficit reduction. don't forget who asked and demanded for deficit reduction. when i talked to a capitol hill staffer, here's what he said. he said -- this is very important -- "if it's a status quo election some kind of deal that staifz off sec quest rags. >> the republicans. >> i have to say it, it is the republicans that the point that are arguing against deficit reduction. they want to cancel the see quester, which is military spending cut. >> only on their terms. >> they would like spending cuts, but they would like -- they won't be ebbing mrift about exactly h...

Just two aleve can keep pain away all day. restore revive rejuvenate rebuild rebuild rebuild there's the tax side of this. i think we're seeing some erosion on that. we're going to dive deeper into the taxes tomorrow. but then there's the cut side, okay? the see quester is in place. it's going to be 1.2 trillion in cuts and the idea is to replace that with other cuts. the cuts that have been agreed to are such a blunt instrument. okay. i want to focus on the medicare portion because i have to say

They fail to protect our embassy, our people and our interests. and i think we have kind of gotten their attention in the last couple of days. they have been much more serious this their security posture but we'll see how long it lasts. >> shannon: i want to ask another question to bolt of you as well and keep your answers relatively tight because we want to hear from both of you. the issue of see quester that is coming if there isn't a deal reached on capitol hill how concerned are you as to what is coming for our military? >> i'm very, very concerned because it will be across-the-board cuts....

And try to avert sort of a budget showdown in the fall? >> yeah, because we are headed at the end of the year, for the fiscal cliff. fiscal cliff is all the bush tax cuts expiring, and of course the see quester, $1.2 trillion of additional spending cuts as well as alternative minimum tax coming back on people, as well as unemployment insurance extension running out. so lots of key issues coming up. absolutely i believe we should revisit bowles-simpson, as you know that grew out of a proposal of senator judd gregg and iing we made that five years ago. i serveden 0 the bowles-simpson commission,...

Republicans say all the time, there's been no budget in a thousand days. what they aren't telling you is instead of a budget resolution last year we did an actual budget law and as you know, a law is stronger than any resolution. so last year, instead of a budget resolution, we did the budget control act that not only set a budget for the next two years, but set spending caps for ten years, saving $900 billion in addition, set in place see quester that's going to have additional $1.2 trillion of spending cuts for 2 trillion in the budget control act, something passed instead of a budget resolu...