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Detailed text transcripts for TV channel - MSNBC - 20111220:12:33:00

trillion dollars a year by doing nothing and people are talking about let s do these things to give tax preferences or spend more money and just pay for it. look, we re in a deep hole. we can t just pay for things. we have to figure out how to have a plan to put our finances in order. look, i m a member of the come back america initiative board. i salute what the comptroller has done and is doing. you know, we haven t we act as if this is almost impossible. we ve had a number of suggestions and recommendations over the past several months, probably the most prominent being the simpson/bowles recommendations. i think which in many ways talk about changing the tax code but asking the wealthiest and those who are most fortunate, most blessed, to give up some of their entitlement benefits. we talk about it as if it s impossible to do. it can be done. the question is whether or not the to joe s point and mika s point is when will elected officials have the courage to do it? they had m

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