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>> now, the plan does not address the debt ceiling. you see the debt clock there. it ticks down to august 2nd. that's when the u.s. could start defaulting on some of its bills. it could be a jumping-off point for a bigger deal. here are some of the highlights of the plan according to cnn senate forces, it shaves about $4 trillion off the debt load. rejiggers the tax load, cuts short-term spending by about $500 billion. it changes the entire budgeting process and it reforms social security. now, this plan is not to be confused with something you heard about yet, cut, cap and balance. ...

To 16 years of catholic school. >> that's part of the problem. we don't teach -- distributive justice societies have obligation to care for everyone within them. those are wealth were have a greater obligation to care for those who do not. >> bill: i think the tax code shows the wealthy does that the wealthiest people of this country carry 75% of the tax load. so i think that that has been demonstrated. >> through my entire life, the tax burden has been cut on the wealthy since i was in high school from the reagan era forward we have consistently cut taxes again and again and again. the promis...

>> that's part of the problem. we don't teach -- distributive justice societies have obligation to care for everyone within them. those are wealth were have a greater obligation to care for those who do not. >> bill: i think the tax code shows the wealthy does that the wealthiest people of this country carry 75% of the tax load. so i think that that has been demonstrated. >> through my entire life, the tax burden has been cut on the wealthy since i was in high school from the reagan era forward we have consistently cut taxes again and again and again. the promise was this would bring back jobs...

>> that's part of the problem. we don't teach -- distributive justice societies have obligation to care for everyone within them. those are wealth were have a greater obligation to care for those who do not. >> bill: i think the tax code shows the wealthy does that the wealthiest people of this country carry 75% of the tax load. so i think that that has been demonstrated. >> through my entire life, the tax burden has been cut on the wealthy since i was in high school from the reagan era forward we have consistently cut taxes again and again and again. the promise was this would bring back jobs...

When it comes time to take on medicare and medicaid, which they've never been that fond of. a lot of courage when it comes time to take on domestic spending but not ate of courage to go 0 to wealthy donors and ask them is to pay more to help get ut out of the hole. >> come on. >> i love to hear from you, love to hear from you whether or not you guys have any plans that go to your wealthy donors saying, we're with you. we're not going to be able to support all of these -- >> republicans are willing to cut defense, willing to cut across the board. the problem right now is that by raising taxes o...