obama projects in 2011, with the recession over, it s going to be over 25 percent. and it s not two wars. we had two wars then, two wars now, and that 25 percent, you know, that s what the bush tax cuts repealed. the decifit will be 1.3 trillion, versus 161 billion. you know, let s put those two budgets side by side and say what are the american people really getting for another, you know, $750 billion. and the answer is not much. jon: all right. i think we ought to go back to the 2007 budget. jon: simon, here s a question for you. from joe in amity harbor, new york, with all the talk about the bush tax cuts, who s paying for them now? well, you know, i think this is as i said earlier, this is going to be one of the great debates in the next few months. right now there s not a single republican running for office anywhere in the country who hasn t plan has a plan to reduce the decifit over the next ten years because if you put in the bush tax cuts you won t
have enough spending to offset it. it is true, there s not a single republican who just got elected who can reduce the decifit by a penny. paul ryan. paul ryan paul ryan s plan doesn t reduce he reduces the decifit 50 years from now is when the decifit starts going down. he has plan. i think he can accelerate the plan. the plan doesn t do it in the next ten years, guys, come on. give me the budget director s job for a democratic or republican president and i ll get it down in 90 days, if the congress will pass it. i think of my own agency where stuff ought to go out the window! peter, i think they ll vote you in. i m for peter. peter, simon, rick, thank you all. thank you. patti ann: we are waiting for reaction from the petit family and jurors outside a connecticut courthouse, those jurors today, just a short time ago, sentenced steven hayes to death for the brutal murders of jennifer hawke-petit and her two daughters in a
play ball for the national interest. the second thing in the economy, one of the great challenges the republicans face in the next few months is how they re going to reconcile two promises, which is to cut tax and reduce the decifit, which right now is not something you can t do both of those things and i think we re going to be hearing a lot from the republicans next few months about how they reconcile those two things. i know that seniors care about that a lot. patti ann: simon, rick, and peter, let s stick around, we ll take a quick break and jon will continue with the panel and town hall coming right up. jon: and first, this fox news alert, patti an, the secretary of homeland security, janet napolitano is out with a new list of rules regarding what can be shipped on aircraft. one of the things that the department of homeland security is doing immediately is banning incoming cargo flights from somalia, the country that barely has a functioning government. the fear is that terroris
the huge spending that s going on in washington? not sure rick and simon know the answer to that, but let s ask anyway. well, i think they should i think what the viewer should look at is how can people who are younger today be able to invest personally into safe accounts, social security, still can t touch it until you re retired and invest that money on a dollar cost average basis that over a lifetime would pay far more than social security, which is actually in the red now and it doesn t have a return. so i think younger people should do that, while keeping promises to our current seniors. i think two quick things. one is i think we have to look at things like extending the retirement age and other ways of changing social security to put it on a firmer financial basis, and i think just like your caller said, i think seniors in this country, if the prescriptions are reasonable i think their going to be
your take on some of these races. larry, thank you. thank you jon. thanks. patti ann: lots of questions coming into the newsroom from our viewers. one hot topic today is the hunt for jobs, among other things. reich tyler is founding director of renewing american leadership, he s also a spokesman for newt gingrich, peter marici with economist with theup of maryland and chief economist at the international trade commission and simon rose en rosen grg is with ngn, a left wing think tank. thank you all three for joining us and thank you for our viewers for sending in questions. we ll start with peter, with debbie in vermont and she asks what areas in the economy will be resill yebt enough to survive the coming downturn in the market? well, i think the technology sectors, the very large banks in new york, are well capitalized now. the entertainment business always does well in recessions. if we had another recession,