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Alas i was disappointed and i did not. jon: campaigning for office the first time around he was complaining about the $9 trillion of debt we had at that point and saying it was un-american and the wrong thing to leave to our children and grandchildren. now we're at 16 trillion. when is this thing going turn around? >> that's right. we need it to turn around. it was on that very basis then senator obama voted against an effort to raise the debt limit. we need to turn it around. the way we turn it around to permanent structural spending reform like a balanced budget amendment. that's what we nee...

Jon: we just had senate majority leader read making some remarks from the microphone, perhaps i'll get to word from the control room in just a bit as to what he had to say. he's already peeled off the microphone, i guess he's done, mike, making his opening remarks. so what about the house side? is that where the ball lies right now? or just exactly what is the state of play here? >> reporter: they essentially said late last week, you know what let the senate go first, let the senate take action. they felt like they have passed numerous bills over the course of the year that would have addresse...

What are you hearing at this moment? is there progress at this time? >> well, we are hearing that there has been progress between vice president biden and senate minority leader mitch mcconnell. still we are nearly 12 hours from the cliff. we don't have a bill. there has actually been a stunning lack of urgency on cant toll hill. on the default showdown, the government shut down there was more urgency. here there just isn't that urgency, maybe because the markets haven't been the roller coaster we thought they would be. eventually people will see less money in their paychecks unless a deal is ...

Tremendous patriotism and it will be -- >> did you hear that lieutenant colonel representative say we don't have a tax problem, we don't have a revenue problem, it's a spending problem? this doesn't address the problem in washington. that's the problem. >> again, once we band together, companies and citizens, we're listen, we need additional receipts, period. that's a known. it's going to happen for a period of time through -- >> you're a business guy. we're run out of time.j3 if you take in money but spend more, you're still taking in more money every year. you have to worry about the spendi...

To cost you. we can do that. the president can step up and say hey, i don't want to go over the cliff. harry reid can come back from hawaii and actually go back to work. we can make that happen. we don't have to raise tacks on anyone. but what we know what we have to do is actually focus on the problem. and i think most americans are starting to understand, washington is trying to convince us that they're not taxing enough. everybody knows $1.3 trillion deficit is not a tax problem. >> congressman, again, i agree with you, but we also live, if you see "lincoln" or see what's happened over the ...