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Much. i do think the stock market itself is saying this isn't going to happen. the defense index on wednesday, all-time high. that saequestration will not happen. federal tax holiday won't go away, that hits the consumer. maybe something is not drastic. nothing drastic will come of this. even despite the scare tactics, government by freakout. how right is that. i still feel pretty good. >> coming back here, peggy, to medicare reform. that's a big issue. the president has got make medicare cuts, reforms, he doesn't want to raise retirement age. perhaps he sided with cpi, reduced benefits. that'...

Thinking big. in a funny way we're doing all this small scare stuff, lose faa guys, look, everybody knows a rough path to stability is this. you try to get hands around and control growth in entitlement spending. you take a look at our tax code, which is kind of an incoherent pigsty that goes thousands of pages. you make it more rational. you make it something that is understandable to people and more allowing of growth. that will help create an air of stability that will actually allow growth to begin. so i don't think this is really all very mysterious. and i feel like the white house and th...

Away, that hits the consumer. maybe something is not drastic. nothing drastic will come of this. even despite the scare tactics, government by freakout. how right is that. i still feel pretty good. >> coming back here, peggy, to medicare reform. that's a big issue. the president has got make medicare cuts, reforms, he doesn't want to raise retirement age. in the past he has sided with chain cpi, reduced benefits. that's what republicans want of i think the feeling is in the white house, why are we going to give on this now? if we give on this we're not going to get tax reform, anything. >> the...

Thinking big in the context of the tough choices. thank you so much. e.j. is going to be back later as our client is heading out for the day. up next, our great expectations on national security. the promises kept and the promises still unfulfilled, when we get back. [ male announcer ] edmunds.com says the all-new nissan altima is a better car than camry. to argue would be rude. nissan altima. with moving-object detection. lease now. just $199 per month. visit choosenissan.com. road and track called sentra an economy car minus the look and feel of an economy car. wonder how civic and corolla l...

Tough vote unless it's very, very broad so you have a few alternatives to go but at least if you're thinking small not big, there's a way out. >> all right. so reversing that, bob, thinking big not small, is the white house hoping to achieve some type of grand deal or is that just out of window at this point with so little time left? >> yes, thomas. i think any hope of a grand bargain this month is out the window. and the heavy lifting will be done, i agree with lynn, in 2013. with entitlement reform and tax reform. but number one, can you get a deal within a week? can it pass the house and se...