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Detailed text transcripts for TV channel - MSNBC - 20111118:15:01:00

But leon panetta has expressed concerns. one of the key players is senator pat toou mee. he s been talking about where things stand. the $1.2 trillion in cuts are necessary. but the composition is something we could improve upon. the amount that s currently planned for defense is way too high. in the event that we re not successful, i think it s important that we recon figure. reporter: one of the issues that makes this sort of washington crisis a little different than ones we have seen before is this kind of a brink point. if they do fail, the government doesn t shut down. people don t automatically lose their jobs. that kind of a lack of urgency has made it more complicated. you have traditional divides over taxes and how much change to domestic programs should take place. it s not looking all that promising this morning. quick question. ....

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