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Year. and then there would be a mechanism for more cuts that if approved the debt ceiling would be raised past the 2012 21 election. will the president sign that into law? me pr chris, let me tell you what we are trying to do. rs first and most important we need to lift this shred of default from the economy for the next 18 months. we have to take that threatctio. off the table through the election?t t try -- through the election. mak but we want to make sure we can come together 1k3* lock in s some long-term savings to getous our fiscal house in order. we need to do both those things so congr...

Speaker believe that the best thing we can do is put togethe together a very substantial contribution to get getting our fiscal house together. house >> vow sayin -g it is stillhe alive? bargain i >> i wouldn't say it that way,st i would just say there are two approaches before us.hat there are the comprehensive balance, entitlement savings for the future with tax reform that would generate revenues and help us solve this problem. abou there is also talk about aor plan with senator mcconnelloth and senator reid put forward. in they would take default off come the table and put in place ary spe...