bill to replace the sequester came out of the president's own budget. not all of them, but most of the changes. >> stuff that you put in there, you knew democrats wouldn't support, and it's exactly what you say senate democrats are doing now, putting in things that the republicans won't support. >> the house passes a bill. the senate can pass a bill. if we disagree, we go to conference and work it out. >> what happens now? what do you think the impact of all of this is? the president is saying there will be a ripple effect in the economy. there be a growth cut, a loss of 750,000 jobs. >> why hasn't he acted? >> what's the impact? >> this is not the smartest way to cut money. the smarter way would be to actually move a bill that deals with the long-term spending problem. you can't continue to spend money that you don't have. >> is this going to hurt the economy? will it hurt economic recovery? >> i don't know whether it's going to hurt the economy or not. i don't think anyone quite understands how the sequester is really going to work. >> is the president exaggerating when he and his cabinet lay out