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Regulations and the uncertainty that comes from more regulations. let's expand the exports which the president has an opportunity to do with these free trade opening agreements. 250,000 new jobs would be created. these are the common sense things in our plan. it's really just a blueprint for success for the american people by getting folks back to work and helping on the budget situation. >> senator, let me ask you because i think as you point out, that the budget situation is tied to the jobs situation. and one of the things in your blueprint is to require a balanced budget amendment that wou...

Been created and say, does it mean what it was intended to do? is it accomplishing the goals? if it is not, we need to look at reforming it. >>neil: i understand that but what does it mean along the way, you would risk shutting down the government, we will have this debate with the debt limit and the new budget, and that will be sort of like the weapon of choice, shut down the government. >>guest: if we get to a point where the democrat dozen in the come to the table with serious proposals on addressing the deficit, yes, we have no choice. we must learn to live in our spending limits, otherwis...

Finance very long-shot candidates. that's a pretty privileged little elite. why should we spend $600 million when it doesn't educate one american, it doesn't build one mile of road, it doesn't defend the country, doesn't educate a kid? >> reporter: the public financing system was born out of the watergate scandal, a way to clean up washington. taxpayers are asked if they want to donate $3 from the u.s. treasury to fund the presidential races. candidates who accept public money also must accept spending limits. cutting the program would save taxpayers $617 million over the next decade. accordin...

Is reportly considering spending limits. that's next.

If we were going to raise the debt ceiling, which you have to do or the federal government will have to default on its credit, but what we should have said is there is going to be spending limits, we'll do something to control our spending. you don't just give a big spender a bigger allowance. there were no reforms. the only one was the pay-go which says if you do spending, you have to pay for it. it's a good idea, but guess what? >> there are waivers. >> in the last three years, the democrats waived that rule for every major spending bill they want. every time they want to spend money, they h...