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One argument often raised in favor of the VAT is that it would improve the level of private saving. This is flat-out false.

Jerusalem has been described as the most hotly-contested piece of real estate on earth.

Discretionary domestic budget since dwight eisenhower. now, we all know that we've got to do more. and so i've put forward a specific $4 trillion deficit reduction plan. it's on a website, you can look at all the numbers. what cuts we make and what revenue we raise. and the way we do it is $2.50 for every cut, we ask for $1 of additional revenue, paid for, as i indicated earlier, by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. and governor romney earlier mentioned the bowles/simpson commission. well, that's how the commission...

Reduce the deficit. and governor romney earlier mentioned the bowles/simpson commission. well, that's how the commission, bipartisan commission that talked about how we should move forward suggested we have to do it. in a balanced way with some revenue and some spending cuts. and this is a major difference that governor romney and i have. let me just finish this point, because you're looking for contrast. you know, when governor romney stood on a stage with other republican candidates for the nomination, and he was asked, would you take $10 of spending cuts for just $1 of revenue? and he said ...

wolf blitzer, let me start with you. this is something that a lot of critics have said is a subject changer because we had real bad jobs news on friday and that just -- it riveted people throughout the weekend. is this an effort to change the narrative? >> it may be, in part, because the white house clearly believes this is a winning political issue for the president. he is going to make the point that for 98% of the american people, there will be no increase in their taxes. individuals making $200,000 or less a year. families making $250,000 or less, they will see no increase whatso...