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Detailed text transcripts for TV channel - MSNBC - 20121130:15:03:00
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watch. so, washington, before you even think about cutting my medicare and social security benefits, here s a number you should remember, 50 million. we are 50 million seniors who earned our benefits. and you will be hearing from us today and on election day. so, senator, isn t it true, that, in fact, democrats wanted to make the price so high for tax revenues, so high for actually touching medicare or social security, that there was no way you were going to get a deal? absolutely not. first, we put a reasonable amount of tax revenues on the table, and when the republicans said that was too high, our people lowered the amount. but, second, we were willing to put significant entitlement savings reform on the table. the amount of entitlement savings that was proposed by democrats on the super committee, senate democrats, exceeded the amount of savings proposed by simpson/bowles, and everyone said that s a very,
adjusted income of $380,000 already paid 38% of the total income tax in 2008. this is not class warfare. it s math. other questions about whether the president s math adds up to $4 trillion in deficit reduction. no rise in the eligibility age for medicare. so the president still promises $580 billion in entitlement savings. he counts $1 trillion in savings from wars in iraq and afghanistan that are already winding down. also, $430 billion from less interest on the debt. let s get our economy going. get more people back to work. more people on the tax rolls, and then if we need more revenue, all right? we will take a look where we can get them then. the president said today there this is a fair deal there are $2 in spending cuts for every dollar that s raised in taxes. you can hear the republican speaker there essentially taking taxes totally off the table. john boehner went fitter in his speech in ohio today saying basically giving the president
house had been talking about for the last several weeks now. chris: i thought that s dead? no. they are talking still. because, again, both the president and the speaker believe that the best thing we can do is put together a very substantial contribution to getting our fiscal house chris: you are saying the so-called grand bargain is still alive. i wouldn t say it that way. two approaches. one like that comprehensive, balanced entitlement savings to secure medicare and medicaid for the future with tax reform that would generate revenues, help us solve this problem. but, there is also some talk about a plan that senator mcconnell and senator reid both put forward that would also take default off the table and put in place a special committee with special powers to try to move legislation to achieve that same outcome. now, you can solve this problem lots of different ways. but the two key things are we take default off the table. the threat of default off the table through the
president and the speaker believe that the best thing we can do is put together a very substantial contribution to getting our fiscal house chris: you are saying the so-called grand bargain is still alive. i wouldn t say it that way. two approaches. one like that comprehensive, balanced entitlement savings to secure medicare and medicaid for the future with tax reform that would generate revenues, help us solve this problem. but, there is also some talk about a plan that senator mcconnell and senator reid both put forward that would also take default off the table and put in place a special committee with special powers to try to move legislation to achieve that same outcome. now, you can solve this problem lots of different ways. but the two key things are we take default off the table. the threat of default off the table through the election and we put in place a framework of tough reforms, forces congress to act relatively soon. we don t want to fall behind the concern of cu
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