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Donald trump. they thought we were the craziest people in the room. >> we have to remember that part of the reason we'll have a trillion dollars deficit this year is also because of tax cuts. it's not only on the spending side. it's also on the tax side where we're being fiscally reckless. republicans care about deficits only when there's a democrat in the white house. an important thing to remember, by the way, is not only should we dare about the thakt that we'll have a trillion dollars deficit right now and probably $2 trillion down the line, we shouldn't care about it only because its hypo...

Art laffer. the latest is things are picking up steam. the president is right to say this is in response to good news. wage growth that is now accelerating close to 3% pace. it seems to be the moment where people are scratching their heads saying wait a minute. maybe this will lead to more of a backup in rates than is warranted. what do you think of that? >> what i think is the backward-looking news is good. the employment numbers, the gdp numbers, all of these are good. the forward-looking stuff on this budget, for example, this is a far cry from fiscal restraint and spending restraint. it's ...

Re-visit that? let's say the house should flip and they force that point? what would you do? >> the american public doesn't want to see taxes go up. we all know that washington does not have a revenue issue. they have a spending issue. that's one of the things i was advocating for with this bill. we have a great opportunity this year looking at the spending side, especially tackling mandatory spendling sight. >> neil: so you would refight their repeal efforts? you would fight whatever effort to rescind this? >> absolutely. the tax bill is working for our country. we knew it was going to work f...

Doesn't it in part stand from freedom from deficits and debt? how did you get to the point where wharton, the president's alma mater, said this will add $2 trillion to the debt? >> there are a number of people -- and you're right. i'm a deficit hawk. one of the negatives is in the short run this does add to the deficit. i would agree with that. here's the other thing. revenue in the collection of revenue is normally not the drivers of that. it is spending. indeed some of our democratic colleagues who are saying we need to address the debt, i'm perfectly willing to work with them on the spendin...

>> katie: spending side of this, too, is a big question. the white house and congress republicans in congress are banking on the economic growth that they claim is going to come out of this. now, they are saying 3%. the president has said as much as 6%, 7%. we will see where it flies. >> harris: bring our attention back to what is playing on the left of the screen. i love listening to you guys though. this is great conversation. i look forward to going into the new year with more of this because, you know that entitlements are something that there will be a fight over at the beginning of the y...