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Deficit savings is more spending cuts. >> right. >> be aware we have cut $2.5 trillion so far on the spending side. i'm sorry, reduction already. 70% 0 of that has been spending cuts already so this really is their shrink government turf. exactly as you suggested. >> you know, on the one hand, we finally got an agreement that we can go to conference committee and try to look at the two budgets and have a budget and stop going from continuing resolution to continuing resolution. and yet, the deadlines, the short-term deadlines and the deal cut this week, doesn't that give republicans a bit of l...

Balanced approach like many bipartisan commissions have been. you have to look at the spending side, especially the so-called mandatory spending side. things are on automatic pilot. you have to look at revenue. if you take that off the table, you put much too big a burden on everybody else. and so i was worried the other day when the speaker of the house said, hey, i want a negotiation. i want to sit down at the table. by the way, we refuse to talk about revenue. that's not a negotiation. the american people recognize that's trying to rig the discussion before it starts. i hope our republican ...

Successful. i understand that there's a $16 trillion in debt, and we have a unique problem with a weak economy recovery, and it seems that congressman markey is talking about everything but the economy. >> greta: what would you do? >> well, i would focus first on the economy. i'd focus on the spending side. also focused on the revenue side. we need to address the spending side. we need to address cuts in certain programs. we've got all parts of the government could have some kind of cuts. i also think we need to potentially address the entitlement issue as well. for people of my generation, th...

Successful. i understand that there's a $16 trillion in debt, and we have a unique problem with a weak economy recovery, and it seems that congressman markey is talking about everything but the economy. >> greta: what would you do? >> well, i would focus first on the economy. i'd focus on the spending side. also focused on the revenue side. we need to address the spending side. we need to address cuts in certain programs. we've got all parts of the government could have some kind of cuts. i also think we need to potentially address the entitlement issue as well. for people of my generation, th...

To use your parlance, then you can use those to lower rates or for something else, be, you can't say it's all on the spending side or all on the tax side. >> wait a second. let's set the ground rules here. no one is talking act eliminating all tax expenditures. >> correct. >> two, a tax expenditure has to be looked at as an appropriation. is it worthwhile, how much does it cost, does it serve a function? the difference between a tax expenditure and appropriation is you have to reappropriate money every year. once you enact the expenditure, it stays there forever until you repeal it. >> look wh...