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>> shannon: all right. defense secretary leon panetta said this could result in something he termed as doomsday scenario. how worried are you about the cuts as they go in to effect? >> as he said, this is not like shooting ourselves in the foot. it's like shooting ourselves in the head. i think if people understand that we have already cut, what will be in next year's budget almost half a trillion dollars and then sequest tration of another half trillion means going forward i'd cut average of $100 billion a year out of the defense budget. which means in the outlying years we'd be cutting the d...

>> shannon: all right. defense secretary leon panetta said this could result in something he termed as doomsday scenario. how worried are you about the cuts as they go in to effect? >> as he said, this is not like shooting ourselves in the foot. it's like shooting ourselves in the head. i think if people understand that we have already cut, what will be in next year's budget almost half a trillion dollars and then sequest tration of another half trillion means going forward i'd cut average of $100 billion a year out of the defense budget. which means in the outlying years we'd be cutting the d...

The double punt. you have can't make it up. if you were doing satire of how it work you that is what you would write. take nothing from jeff a serious guy and understands the problems here but on the surface, not a proposal to solve a problem. >> bottom line, does something happen by the 23rd, a.b.? >> unlikely that somebody satisfying happens by the 23rd. they might do the next punt where they come up with a figure to say it's assigned to committees. come up with the own numbers. we can't come up with any ourselves. or they won't come up with anything at all. the grand bargain of $2 to $4 tri...

The double punt. you have can't make it up. if you were doing satire of how it work you that is what you would write. take nothing from jeff a serious guy and understands the problems here but on the surface, not a proposal to solve a problem. >> bottom line, does something happen by the 23rd, a.b.? >> unlikely that somebody satisfying happens by the 23rd. they might do the next punt where they come up with a figure to say it's assigned to committees. come up with the own numbers. we can't come up with any ourselves. or they won't come up with anything at all. the grand bargain of $2 to $4 tri...

It's not clear if the majority of the group will. hours after he said he didn't think the super committee would succeed, chuck schumer pushed republicans on the, i of revenue. >> if you don't do revenues you won't do the grand bargain to get deficit down. >> just as if you didn't do spending you wouldn't come to grand bargain to get the deficit down. >> they won't go along with raising taxes on americans. they might agree to eliminate deduction and subsidy to eliminate the bush tax rate to make them permanent. time is winding down with november 23 deadline looming for group of 12. >> we will k...