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Detailed text transcripts for TV channel - MSNBC - 20111122:14:19:00

Overall economy is at the lowest level. if you look at the chart of president obama, the extension from 2009 to 2017 they are going to cost $1.44 trillion as opposed to the bush policy. how can you say it s a spending problem, not a revenue problem. we have the lowest share of revenue. 5.07 under bush. let me explain it for you. we had a recession. we are in a weak economy. we have a high unemployment rate. when you have that, you have a reduction in the revenue that s going to come in. the revenue is a leveraged function of the economy. if we have policies to encourage that. we have a reversion of the revenue. the spending is at a higher level. it s going to continue to grow. in the discussions, the democrats were not willing to address the drivers of the ....

President Obama , 1 44 Trillion , 3 44 Trillion , Spending Problem , Revenue Problem , 15 07 , Unemployment Rate ,