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Detailed text transcripts for TV channel - MSNBC - 20110214:19:01:00

americans. as a start, i ve called for a freeze on annual domestic spending over the next five years. this freeze would cut the deficit by more $400 billion over the next decade. budget freeze will require tough choices. it will mean cutting things that i care deeply about, for example, community action programs and low-income neighbors and towns and community development block grants that so many of our cities and states rely on. and joining me now, cnbc s chief washington correspondent, john harwood. as i mentioned, you are already having people criticize from both sides of the aisle, republicans and democrats. you also have people wondering about entitlement programs, why the president is not addressing social security and medicare. it s like the goldy locks bed search, one s too hard, one s too soft, finally one may be just right but it seems a long root road away.

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