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As simple as that. who are best equipped to spend the nation s wealth? quite frankly the people who earned it know how to make money and spend it contribute to working down the deficit. a simple formula and it s fair and it s right. the cause of the deficit is the fact spending has gone to 25%. it s a solution whatever the cause. a simple solution. it s just right. you keep taxing the well-to-do, tax the corporation, raise it to 70%, every job will leave the united states. i didn t say raise the corporations, i gave a very simple solution, to the wealthy of the wealthy, a few percentage points, it will not cause them to spend one dollar less into the economy, a simple way to take a huge ax to the deficit. you re taking it either out of spending by individuals or not going to take it out of spending. or taking it out of savings by individuals in order that the government can spend it. the government has to cut the spending. ....
Billion for last year s budget in the context of 3$3.5 trillio deficit is really they don t understand why this has turned out to be armageddon in terms of a showdown. bigger fights looming with next year s budget, raising the debt ceiling. there s a lot of frustration. i think they re hopeful somehow cooler heads will prevail and everybody will get a deal. john boehner has a really difficult problem on his hands as well. he has to get his republican conference in line behind any deal. for a lot of particularly the new members, compromise is a bad word. they want spending cuts. they don t want anything short of what they ve got. ed rendell. are republicans ready to give up the social stuff in hr 1 like taking money away from planned parenthood? reporter: i don t think so. if they don t give that up, i don t ever see the senate ....
Today, americans think sacrifice is going without the latest version of the ipad 2. i don t know any longer. pat, one more thing before you help me out here. sacrifice also means that companies like general electric and other large companies, they pay their fair share of taxes because we pay more than our fair share of taxes. mike, i think you re exactly right. the country you grew up in understood sacrifices, we xwru up in the 50s, everybody submits to the draft and go off for two years or six months, budgets were balances and these folks did their job, world war ii generation. i think we have a generation, a country and generation of politicians, quite frankly, that s simply not up to doing this. for whatever reason, when you re talking about a 1.$1.65 trillio deficit and they re already attacking paul ryan for his proposals, i really think you have to bet we will reach the ....