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because if you look at it as just historical fact the taxing rate right now as a measure of g.d.p. is historic low. it is not high. again, it's very political matter. president will have to cut spending because if he has a meaningful second term, his legacy is going to be tied to things like simpson-boles and something that stabilizes our future. >> i hope the president is watching juan with sage advice. i think charms is exactly right. it's hard to have good faith negotiations with someone who doesn't want to cut spending. president has given no indication he is serious about cutting spending throughout the first term and now in the early stages or weeks before he begins his second term. it's impossible to have that. i think it's a hunge moment because now that republicans understand that, they won't be tempted to engage in good faith

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