biden set to lay out his budget proposal to the nation in a few hours. mj lee is following this. walk us through what we believe the president s priorities will be, particularly now since he does not control both houses of congress. reporter: we do expect the full details of this budget to come out in a matter of hours but there are major come po ne components of the budget that we know. we know the president is going to propose cutting the deficit by $3 trillion, this is notable because in recent weeks he s been talking about that figure being more like 2 trillion so this is more aggressive. we know he wants the cuts to the deficit coming in part from taxing high earners and large corporations. he has said he doesn t want to put extra taxes on people learning less than $400,000. we are talking ant tbout thingse allowing medicare to negotiate drug prices and savings there would go back to the program. and boosting federal fund for early education and child care, including m
had a serious debt cutting. ryan was on the commission and voted against it. but it s fun. this is what you do. bill: before you get to your next answer. listen to how he went on to explain it last night. we ll honor it. a romney-ryan administration will protect and strengthen medicare for my mom s generation, my generation and for my kids and your yours. [cheers and applause] romney and ryan are the only ones with a plan to preserve medicare. they are the on two that say we are going to take those $716 billion in cuts and put them back into the medicare trust fund. that s what they are going to do. it s just not true that ryan
and jonathan, i never understood, i still don t understand politically why the revenue collapse that really exposed how expensive our country is to run is never even part of the debate. well, because the republicans don t want it to be. what about the democrats? well, i mean, the democrats will talk about it. but there is something else you have it add on top of the revenue collapse. and that s costs that were born by the country that people didn t pay attention to. hunk of that, sh tax cuts. i think you showed $16 trillion pz. yeah. then on top of that, president obama did something that bush never did with the wars of iraq and afghanistan. obama in february 2009 put both of those wars on the books. that also added to the deficit. rob, the politics of revenue and the absence of a growth strategy as a component, i m all in for a debt cutting and cost savings and there s a lot of
government, they should think about this? when they talk about what spending cuts looks like, talking about government spending as government waste this is what we re talking about. by the way, democrats and republicans completely failed to put enough money into the school lunch program and last reauthorization, they will not put anything more than a few pennies, look at the foods these poor kids have to eat. it s the worst waste products we can pull out of our farming system. we re failing these children even giving them free meals. and certainly the human side of the debt cutting is important to remember. thank you again for comingรง on the panel. today s panel, i hope to see you back here soon. i ll see you tomorrow at noon eastern. you can follow us at twitter at now with alex. hi, alex, thanks so much. mitt romney makes a play for iowa as newt gingrich claims the
find out what they re going to do with it. you think we ll get a spending reduction plan in place by 2012? voters enormously skeptical. 73% say it s not likely. i want to put this in perspective. it s not just that they don t think a plan will come in the future. congress already they cut spending by a trillion dollars as part of the deal to raise the debt ceiling. most say they don t even think those cuts will be delivered upon. heather: so what is next in the debt cutting plan? what do they think? most americans would like to see a plan that is mostly spending cuts. they expect if any deal does come out, it will be mostly tax hikes. they think the spending cuts will be ignored, the tax hikes will be implemented and then just to flesh out the full round of skeptic im, 62% say if taxes are raised, congress won t use it to reduce the deficit. they ll spend it on something new. kelly: i m running out of time. you ve got toell us, you are rasmussen, the best out there. what s the