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democratic approach. i and my republican colleagues in the house are prepared toe move on our own. >> today? >> today. >> and that would be a>> c: toda republican plan and it is along the lines i have talked te about, the l two-step process. , cuts now and deem limit increase into next year.'tt t -- debt limit increase intot next year. >> i don't want to get into ife details of what it may or may not be. dails 23* i had the details i wouldnn be happy to their with you. we are not there yet. >> the s&p ratings agency says it will consider down gradingn f our debt even if the debt inc limit is increased if you end up with a short-term deal indicating washington isn't a serious about dealing with this issue.hat isn't that a concern that the markets could look at a trail-dollar cut and a short-term deal that kicks the can into next year and youer mar would get another markett's meltdown?hat >> i think it is important we l deal with our long-term problem. it is serious.ut whshington's spending has been

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