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Not that would prevent the automatic tax cuts from going into place. excuse me, automatic lick spendin cut what people should know is that one way or another we re going to have $1.2 trillion in reduced spending. it could either be done the ugly way, which would happen if our committee ails. or we could do it more intelligently. but we do have the opportunity, even if the committee fails, to work around the sequester so that we still have $1.2 trillion in savings over t years. but it s not done in the very draconian way that secretary panetta is referring to. now that will require work on congress pa, and some agreement. but i can t imagine that, knowing of the importance of national defense, that both democrats and republicans wouldn t find a way to work through that process so way still get to $1.2 trillion in cuts, but it doesn t all fall on defense as secretary panetta pointed out. so you don t think the defense cuts will happen? well, i thinkthere s a way to avoid that, if ....
Pushingback and he has said there won t be revenue. lete repeat this. i want america to understand this. there s one thing standing between us and avoiding a seester and dng $1.2 trillion. and that one thing is the republican unwillingness to not push for the bush tax cuts to be tended now. we ve even talked to them about guaranteeing them a fast track for tax reform. we ll do tax reform before next december. we ll do tax reform for business. we could lower the corporate tax rate. we could wind up with a major initiativto create jobs, avoid the sequester, show that america works, if they will just back off insisting that the bush tax cuts be extended now. i want to ask you about presidential leadership. the president, after the debt decle of the summer, said this to the american people. i realize that aft what we just went through, there s some skepcism tha repubcans and democrats on the so-called sur ....
Increase the debt ceiling, w said we re not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to come up with the other $1.2 or$1.5 trillion. supposedly on the maatory side. this is where two-thirds of our spending occurs. on everything from medicare and medicaid to food stamps and ag subsidies and the like. and we focused on that. and our democratic friends were never lling to dohe entitlement reforms that would have reduced the costs senator you haven t answered my question. i m getting to the point. this was not about extending the bush tax cuts. it was about trying to do entitlement reform on the mandatory side of the budget. when our democratic friends mad it very clear they weren t going to do anything without raising taxes we then turned to what is the best way to derive revenues? is it to allow the current code to expire and have the bigge tax cut in t ....
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