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Bringing the decifit down by a billion or so dollars over the next ten years, it is not done through spending freezes as much as it's done through tax increases. for example, over the next ten years, hiking taxes on most making 250,000 or more, that's going to bring you 600, $700 billion. over this same period, going after this same group and limiting their in corks that's going to bring you another two # $9 billion. you've talked about the surcharge on banks, that's going to bring you $90 billion. add it all up, that's about $1.1 trillion worth of taxes, presumably, that bring those deficits ...

>> the president's outlined a ten-year plan to bring the deficit down by $1.2 trillion other the next ten years. jane: steve, when you've been looking at this, what other major items are in the budget? >> well, of course, there's jobs. the president promised to focus on that, and he has. there's $100 billion job creation program in this, and also the president's laid out a three-year freeze on federal spending. now, this would not affect social security or medicare, it would not affect the mill care or veterans 'benefits, but it would affect a lot of government programs, so he plans to save mo...

To get people back to work. we are not going to save our way out of this recession. we have got to spend our way out of this recession. and i think most economists know that. jane: congressman, i'm going play a sound bite as we call it from senator judd gregg who was on with bill hemmer a little earlier this morning, talking about the spending he sees in this proposal. take a listen if you will and if we can get you to comment. >> it's fiscal insanity, to continue to grow the government the way we're growing it, continue to spend the way we're spending, continue to raise the debt the way we're...

White house for us, thanks, steve. jon: alabama senator jeff sessions is a member of the budget committee that will vote on the president's proposed budget. he joins us live from capitol hill. senator sessionings, from what you've seen of this budget, what do you think of it? >> with well, it's not good. we're talking about $1.6 trillion in deficits, this budget, first budget year, which would be the largest deficit in the history ri of the american republic, even larger than last year which was triple the deficit the year before. so fundamentally i think the president talked about a freeze. i...

$12 trillion, but we've made promises in programs such as medicare and social security that add up to some $63 trillion, promised benefits the government has no money to pay for. and this isn't just an issue for the elderly because young americans will be asked to pay the bills. >> we really have massive taxation without representation going on right now. why do i say that? well, because it's easy to spend somebody else's money, it's even easier to spend it when they're too young to vote or they're not born yet. >> and if the government doesn't change its ways soon, jane, many say for the firs...