Detailed text transcripts for TV channel - CNN - 20100719:15:17:00
75% debt reduction coming from spending and 25% from tax hikes. what's your thinking? >> the fact of the matter is this administration and this congress have put in place nearly $1.3 trillion in the past two budget cycles of new spending, deficit spending. we ought to get to prebailout, prestimulus levels immediately. if we do that, we inessence over a very short period of time get to the trajectory that if we decrease spending in the departments, on one penny in a dollar saved over a period of ten years each year would balance the budget. those are the kinds of responsible decisions that the ...
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