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Detailed text transcripts for TV channel - MSNBC - 20100201:14:48:00

go down unless, quote/unquote, everything is on the table at the end as far as you re concerned? we ve seen a variety of efforts to fix this through the regular process in congress. hasn t worked. so the reality is this. we have an enormous spending problem in the federal government. we need to take it and get it under control. even this budget, which has revenues going well above their norms, 19.6% of spending under control without pretending you can tax your way out of the problem? that becomes the political difficul difficulty. to take a giant step back here, everybody talks about deficits. we know deficits are bad. but just explain to folks at home why running deficits like this is so dangerous to our economic well-being. if you do this in the way we do in the united states which is chronically and getting larger going forward, you have the government taking money that could be available to schoolchildren, to build skills in workers, to invest in the latest technologies and

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