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That, i read that many cuts are back-ended, meaning they'll occur after the year 2014. nothing will happen this year, the year after, but 2014 is it when really matters. >> that's not true. there's immediate cuts. it's modeled after the cut, cap and balance approach. there's a balanced budget amendment vote will occur sometime this fall, something we've been fighting for a long time. there will be some immediate cuts made on the order of about $917 billion. those are -- that's spending that will be capped. >> greta: who gets that first $900 billion in cuts? >> it's going to come out of a lot o...

Department gets devastated. >> greta: we haven't had a lot of successful committees. >> i'm with you. >> greta: so you're saying that if the committee fails, it's going to be devastating to the defense. >> under this agreement, it will be. >> greta: as you say, but there's been no history -- >> how much money do we spend on defense at the federal level? defense. under this agreement, if the joint committee doesn't produce a product, 50% of the cuts come out of the defense department. i believe the number one obligation of the federal government is to defend the nation. you should start with a ...

A gun to our heads come september 29th, when everyone is rushing around to pass these bills, nobody reads them and late-night meetings. it's nuts. >> it's a terrible way to run a railroad, especially a $3.7 trillion railroad, and that's got to change. if we can get the majority back in 2013, elect a republican president. that being said, there's a cap set for 2012, which starts october 1st, and congress will have to come back in september and make decisions about how to spend the money thunder cap. under that cap. >> greta: that the hour, there's deep division in the senate, and the division i...

That, i read that many cuts are back-ended, meaning they'll occur after the year 2014. nothing will happen this year, the year after, but 2014 is it when really matters. >> that's not true. there's immediate cuts. it's modeled after the cut, cap and balance approach. there's a balanced budget amendment vote will occur sometime this fall, something we've been fighting for a long time. there will be some immediate cuts made on the order of about $917 billion. those are -- that's spending that will be capped. >> greta: who gets that first $900 billion in cuts? >> it's going to come out of a lot o...