britain responded by raising taxes. not only their vat rates, but personal income taxes and now s & p views them as stable. i think that obama the value added sales tax and raised the income tax rate to 50%. >> that helped with the s & p rating and i think that's what obama is going to use as an excuse. >> paul: that's an interesting points, what is suggests the standard & poor's from negative to stable, he's going to put pressure on republicans to come around on taxes? >> well, i think they have to be able to define the debate right now, to steve's point about this tour that he's just made. it is true that he hasn't talked much about cutting anything. instead, he talks about preserving the social tactful compact with medicaid, medicare and new investments in energy and infrastructure. what barack obama is talking about is elevating spending up