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Detailed text transcripts for TV channel - CNN - 20101201:22:05:00

Analyst, trying to digest this, all of us right now, name a guy to be in charge of security, protecting secrets. david, this has been going on for months and months and months. and only today they say we ll come to grips with this. very surprising, wolf. there may be more to this story inside. there may be things done very privately that we done know about yet. normally in this kind of situation if you re in the white house, you got something bad coming and you know it s coming, you try to prepare for it in advance. the day it happens or dace before it p has, you go to the public and say we ve done the following five things, we ve severed the state department from all communications from anybody sitting in baghdad to make sure this never happens and nothing like this happens again. we ve had a point man working on it the last three months. we ve had television advisory board work on this knowing it s ....

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Detailed text transcripts for TV channel - CNN - 20101201:23:30:00

And the question is, could the same thing happen to the u.s.? even leading fiscal experts say it is impossible to predict, but the whole world is watching right now and the wall street and the people who lent money around the world are watching what we will do and see if we get our fiscal house in order. reporter: the head of the nonpartisan committee for responsible federal budget says we don t have much time to act. the u.s. economy is dependent on foreign lenders, especially china, and if they don t see it as a safe haven, they will stop. and the outspoken proponent of the debt was a guest on fareed sa care ya. we are going into a noncon flag ration, and if the u.s. bond market ever gets under way, it is traumatic. it will be, um, a real ....

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Detailed text transcripts for TV channel - CNN - 20101201:22:34:00

90%. cost of debt will increase. cost of everything else in america will go up. we ll be in the same situation that ireland or spain or portugal is today or greece for that matter. we ve got to take this on and we ve got to take it on now. fortunately we have time to take it on and do it in a responsible manner. the issue is wetter to keep the bush tax rates going for everyone, including the wealthy. is that a good idea? i stay out of that game, wolf. i got enough problems working the guys on the commission. i have no idea where that is goin going. 720 billion dollars, if those made more than 750 thousand a year, keep the same tax rates. i wouldn t worry about things like that if you know that ....

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Detailed text transcripts for TV channel - CNN - 20101201:22:29:00

26 of the income, would come from cuts and domestic and defense spending. report outlines weighs to sure up social security by reducing benefits by the wealthy and slowly raising the retirement age from 67 to 69 by the year 2075. and joining us now from capitol hill, the two co-chairman of the president s debt commission, erskine and alan. you have 14 votes. i don t know. for our purposes. we have would accomplish the basic reason why we started and that s the awareness of the mean people of the situation we have. ....

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Detailed text transcripts for TV channel - CNN - 20101201:22:45:00

The them. all republicans on boar. if they want to filibuster, everything else extending unemployment insurance. start treaty. whatever else they want to do they can do that. are you telling me republicans are saying they ll say no. is that a news flash? they ve been saying no lat two years. i m saying this. american taxpayer are paying you to work. get your butts to work. whether republicans or democrats much if you are unemployed. last thing you want is see these republicans and many dids get a taxpayer check while you re sitting here stuck with no unemployment benefits when you have a tough economic situation. i say get to work and top being obstructionist. how do they answer that? they re working on it. whole unemployment thing is offsetting. it s another expenditure where you have to borrow money again. they ve argued that you need to offset that. now they re prepared to do that. democrats aren t prepared to do ....

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