Detailed text transcripts for TV channel - MSNBC - 20110214:12:08:00
Insolvency as a nation. >> i would want to point out that our budget actually makes cuts in many of those areas. we reduce defense spending by $78 billion over the next five years. we do have savings in health programs to pay for the medicare program. in the area of social security, i want to point out, it is not contributing the the short-term deficit. it is a long-term issue. >> we're talking about the long-term debt challenge. we at least have been around here. our concern has been that there have been a lot of cuts in programs, 12%, 15% of the budget, the discretionary, nondefense spending...
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