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Detailed text transcripts for TV channel - MSNBC - 20110707:20:05:00

issues with social security and medicare. it s also not a surprise that it would also have to include revenue increases and i think the republicans so far have really been just saying, we w l will we don t care about deficit reduction. we care about taxes. we don t really care about the size of government. we care about taxes. i think that has the line in the sand so far, it s suggested no compromise. i ve been happy to hear, given a little hope that now the discussion has shifted a little bit to what is meant by a tax increase to closing tax loopholes. because again, if you go back to simpson bowles, the idea of capping or reducing or alienating some of the tax expenditures which you could define as tax loopholes if you want to broaden the base that idea has been around a long time. the question is how much of that revenue capture can you then use

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