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Are they going to get rid of state and local tax exemptions? >> the the answer to those questions is probably not because the people don't want it. there's no march to get rid of medicare or social security and have they not raided social security and borrowed against it, it's a solvent program and has been for 77 years. >> but ed, the problem is for the last 40 years we have been raiding social security and spending it on aircraft carriers. >> we don't pay for anything. >> the problem is the $2.8 trillion of ious in the trust fund have nothing behind them. they are pieces of paper. and they w...

Package that involved cuts to medicare benefits, if that's what was required for a grand bargain? >> i wouldn't go -- i certainly wouldn't go as far as house republican budget, which i think would eliminate medicare as we know it today. there are ways to make health savings in medicare. health savings that will mean it will be a solvent program for so much longer. we shouldn't, though, break the basic promise to the american people that medicare is going to protect them in their retirement. >> senator graham, i hear in that something i've heard from my own reporting at the white house, which i...