toomey and mr. sessions have shown for our work. we will continue to do the best to give you the information you need in making the important decisions the country faces. i'll refer to the charts in front of you. let me begin and senator toomey said our projections on based on current law, not because we expect will will be no changes in law, but this provides a benchmarks against which potential changes can be made. we are presenting a bench mark. not a forecast. that is important in reading our projections. what is our assessment of the economic outlook? the pace of the recovery has been slow since the recession ended two and a half years ago. we project it will continue to be slow for the next two years. reflecting both the lingering effects of the financial crisis and recession and the fiscal restraint that will rise under current law. current law fiscal policy will reduce the growth output in 2012 and 2013 through a large combination of tax increases and spending cuts. our

very complex. >> toomey was technically correct.tein assumes somebody will pay the difference. the numbers don't add up. >> the problem is also that toomey and others assume dynamic scoring which is the crazy concept that if you cut taxes enough it will generate revenue. >>> we have to take a break. bruce, next time. "end point" is up next. back in a moment. when i grow up, i want to fix up old houses. ♪ [ woman ] when i grow up, i want to take him on his first flight. i want to run a marathon. i'm going to own my own restaurant. when i grow up, i'm going to start a band. [ female announcer ] at aarp we believe you're never done growing. thanks, mom. i just want to get my car back. [ female announcer ] discover what's next in your life. get this free travel bag when you join at aarp.org/jointoday. >>> time for "end point." congressman davis, you're going to start us off. >> pat toomey did not lie about husband budget plan. the numbers may not add up but he doesn't raise taxes. the administration doesn't have a balanced budget or tax

senator toomey? i'm sorry. senator whitehouse, and then senator toomey. you'll be next. then senator begich. >> we would ask that the witness answer the question. many of these are simple questions. >> well, you have -- >> answer the question. >> well, let me just say, let me just say, when we ask a question here, a witness deserves the chance to answer. that's the way this committee will be conducted. for anyone. senator whitehouse is recognized. >> and give a straight answer -- >> senator whitehouse is recognized. >> welcome, mr. zients. >> thank you. >> for as long as there has been discussion about medicare, there has been opposition to medicare and there has been resentment that medicare exists. the forces that opposed medicare initially and that have resented it since are still out there. there is enormous value to certain sectors in the private sector of turning medicare over to private control. giving people vouchers and sending them off into the private health insurance industry for instance would be a significant windfall for the private health insurance indust

supporting arlen specter, supporting arlen specter over pat toomey that was a torturous route. >> just about as torturous six years later blaming me for obama care. >> it wouldn't really be a republican debate if newt gingrich didn't take his customary shot at the media. >> since birth control is the latest hot topic which candidate believes in birth control and if not, why? >> as you can see, it's a -- it's a very popular question you have. >> it's a very popular question in the audience as we can see. we're not going to spend a ton of time on this. >> may i make a point? >> sure. >> these guys are going to give you feedback here. >> i see that. >> i think they're making it clear. >> look, i want to make two quick points, john. the first, there is a legitimate question about the power of the government to impose on religion activities which any religion opposes. that's legitimate. >> sure is. >> i just want to point out, you did not once in the 2008 campaign, not once did anybody in the elite media ask why barack obama voted in favor of legalizing infante side. let's be clear here. if

we started out senator toomey and i agreeing on one thing. we have to have policies that strengthen economic growth. and yet you are saying that current law which ends the bush-era tax cuts at the end of this year and current law also imposes spending cuts, sequestration that is in line, that would cut about half. is that correct? >> yes, that is right, mr. chairman. >> so, you know, i think it is very confusing to people because it sounds like double talk to them. how can it be that in the one hand we are saying deficits and debts are a big problem, but on the other hand, if we cut spending and raise revenue, which over time will reduce deficits, but if we did it now, it will dramatically reduce economic growth and make our economic situation worse. how can both those things be true? >> as you know, mr. chairman, it is not double talk but it is complicate complicated. in the short-term, especially given the state of the economy today, the constraint on output and jobs is really the demand for goods and services which plummeted in the financi

. >> the reason we have obamacare is because the senator supported pat toomey are over pat toomey arlen specter voted for obamacare. if you had not supported him, if we said no to arlen specter we would not have obamacare. so don't look at me. take a look in the mirror. >> stephen: yeah, rick. if you didn't endorse this clown in 2004 who cast the deciding vote on obamacare five years later, we wouldn't have obama's disastrous government mandated health care that mitt romney designed. (laughter) so look in the mirror, buddy! you're not going to like what you see. but what really-- (applause) what really sealed mitt's victory was his answer to john king's final question. >> what the biggest misconception about you in the public debate right now. we are geeing have to add dramatic fundamental change in washington d.c. we're going have to create more jobs v less debt and shrink the size of government. the only person -- >> are there misconception, the question is a misconception. >> you get to ask the questions you want, i get to give the answers i want. >> fair enough. >> stephen: yes, wai

it's then going to be senator toomey. senator warner. >> thank you, mr. chairman. i appreciate your support for the notion of going big and recognizing we need a comprehensive deficit reduction plan. i personally believe that we should confound conventional wisdom and not pump this until after the next election cycle. i still find as a business guy it would be hard to explain to this my shareholders if my company was in dire financial straits and i said to them we got a plan and i'm going to get back to you in the summer of 2013. you made the point they have os terty plans. i believe every one of the countries, while they've had cut backs have ls included increased rev news in the mix. that's correct, isn't it? >> yes. and what we've seen as somebody personally who has been very interested, for example, if what's gone on in the uk, do you have any advice for us, lessons learned, if we were to put a plan in place, on a phasing in of whether it's revenue increases or dramatic cutbacks in spending. there are metrics to look at that should be phased in over a time fram

. >> i wanted to follow up on questions senator toomey had asked you about. some of the risks that we see right now. two days ago charles schwab wrote a piece in the journal. in addition to the issue that you already addressed to senator toomey, which was the issue of the risk of keeping interest rates low with respect to sav s savers, he also noted that there's also a concern that he droibed it this way. capital out of europe and into safe u.s. assets, and new business formation is at a record low. he said they're detroying invest and the willingness of banks to loan to anyone but those whose credit is so strong they don't need the loans. can you respond to that? >> i disagree with that completely. i think first of all, one of the goals of our asset purchase program is to take safe treasury out of circulation and push investors intoing situations that are appropriately risky. making loans, buying corporate debt an taking actions, hiring, investing, they'll expand the economy. they are very hunkerred down to a riskier position positive for the economy. they h

we're going broke and no one seems to want to do much about it, but maybe, just maybe, senator pat toomey can tell me what the risk fiscal path will be and he joins me live in just a few moments. then there's sizzle story number two. italy, spain and portugal downgraded by moody's, but a greek bailout deal does boost stocks. the dow climbed 73 points on our long march toward 14,000, strength of the better economy. that's my card. first up tonight, cnbc's eamon javers joins me with the details. >> good evening, larry. the obama administration is saying now is not the time for austerity as the president unveiled his $3. billion budget for the fiscal year of 2013. take a look at some of the details of what's in that and you get a sense of where the president's coming from as he goes into this very delicate campaign starting with a 2013 estimated budget deficit of $901 billion. revenues will be up $1.5 trillion over ten years and the bush tax cuts, as you just said larry, those are set to expeer under the president's plan at the end of 2012 and the buffett rule, a 30% tax on income of $1 mill

pat toomey challenged you, mounted a conservative challenge to you in the republican primary.nd rick santorum did support arlen specter. let's listen to what he said last night, senator. he said he supported you only after a conversation in which you made a promise. let's listen. >> arlen specter as chairman of the judiciary committee, we had a conversation. he asked me to support him. i said will you support the president's nominees? we had a 51-49 margin in the senate. he said i'll support the president's nominees in the senate. >> speaking about president bush's nominees for supreme court. did you have that conversation? did you make that promise? >> no. >> no. never happened? >> i made no promise about supporting anybody. i wouldn't do it. it would be wrong to make a promise in advance of knowing who the nominee was and what the qualifications were. >> he says that you asked for his support. he ultimately gave you his support. he says you had the conversation. is he making that up last night? is he misunderstanding something? >> i'm telling you what the facts are. i'm not

the assumption was toomey could not win a general election in a presidential election year. romney's most effective hits on santorum were for policies the bush administration needed santorum to support but which are now unpopular with the base. summed up in this exchange on "no child left behind." >> it was against the principles i believed in but, you know, when you're part of the team sometimes you take one for the team for the leader and i made a mistake. you know, politics is a team sport, folks. >> he calls this a team sport. he has to go along to get along and that's the way the team plays. that's the problem with washington. that's what's been going on for so long. >> here's the bottom line on santorum's performance last night. many times he was right on the facts and if you were a debate coach at a university you would say he got the facts correct, won on points. the problem is those facts are now pretty unpopular with republican primary voters. romney did his job making santorum seem like a washington insider and he decided and also tried to do some of his own biogr

. >> he supported arlen specter against pat toomey. one of the few people we can remember the other day who actually voted against bush's $7 trillion boondoggle for medicare. >> supporting specter against toomey, defending earmarks and doing it in a legislative way. that kind of senatorese, talking about earmarks. given an opportunity to define himself with one word choosing the word courage rather than conservative. there were a million opportunities for santorum to drive i'm the conservative alternative. and instead of doing that, he allowed himself to fall into the place that romney wants to put him, which is a creature of washington. and that's how he came across all night long last night. i don't think romney scored any big knockouts, but santorum did himself no good in advancing himself as the conservative alternative to mitt romney. and that sounded like a win by default for the former governor of massachusetts. >> i remember when gary hart got into his trouble back in '88 and i felt one of the things that really hurt him was th

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coming up next, senator pat toomey of pennsylvania, is here.ent's budget proposal than jeffrey sachs. you're watching "morning joe," brewed by starbucks. ♪ [ male announcer ] for our families... our neighbors... and our communities... america's beverage companies have created a wide range of new choices. developing smaller portion sizes and more low- & no-calorie beverages... adding clear calorie labels so you know exactly what you're choosing... and in schools, replacing full-calorie soft drinks with lower-calorie options. with more choices and fewer calories, america's beverage companies are delivering. >>> all right. welcome back to "morning joe," 24 past the hour. let's bring in nbc news chief white house correspondent and political director and host of the daily rundown, chuck todd. chuck, happy valentine's day. >> that was very nice to you, happy valentine's day to you, mika. >> did you see what i got for valentine's day? >> i have not yet. when i'm doing the outdoor shots, what did you get? >> i'm holding it up. it's the budget! >> you n

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specter, the pro-choice senator of pennsylvania that you supported and endorsed in a race over pat toomeyhe voted for obama care. if you had not supported him and we had said no to arlen specter, we would not have obama care, so don't look at me. take a look in the mirror. >> you know, romney had his amen chorus there last night. watch a little square shoulder. a little perfection. you can imagine them in the audience all doing what they were told to do. goody two-shoes applauding on command. are we allowed to say the word piss ant on television? this debate was small. a debate about who is going to command us in the world. we're fighting the chinese. we have terrorism still out there. we have to deal with iran. and they are sitting there talking about, well, you know, all those years ago, you backed arlen specter. give me a break. mickey mouse club. am i wrong? help me here, susan. objective reporter. objectively, wasn't it really petty last night? >> you know, it was not one of those -- we've had some good debates. >> yes. >> i mean, we've had 20 debates. you would hope some of them wou

. >> the reason we have a obamacare because what you supported with patted toomey, arlen specter the pro-choice senator that you supported and endorsed in a race over patted toomey he voted for obamacare. >> joining me, ed rollins and co-host of the five, kimberly guilfoyle. i was struck watching this debated last need. i thought if you looked at them, they all did well but i was reminded how much better how much better they do than when you listen to the mainstream media caricature caricature of them but it was up to santorum? >> i agree. this was a pivotal moment in time. he should be saying i am the one that should be leading the country. i think he did get ganged up. he was trying to be a front-runner and he got piled on. i would like to see him do better given the opportunity, if the win goes to romney by default. the only one that we have problems with newt when he talks about the economy and national security issues. other than that a lot of questions should have been asked. >> liz: one of those questions is this whole issue of gas prices. we've all been talking about and focu

in the last hour we heard from pat toomey. is alarming. here's what he told me. >> let's look at what the president himself has said. he has said that the long-term driver of our deficits and debt are completely unsustainable budget picture is mandatory health care spending. the president knows that and yet he gives us a budget in which spending grows, taxes are higher, he spends even more than the tax increases and gives us a bigger deficit than we had last year and no reforms at all on the fundamental driver of these programs. >> democratic congresswoman agaqwen moore is joining us. you heard what the senator just said. mandatory health care spending. the president knows that and still delivers a budget that actually doesn't tackle any of the problems that exist right now. what do you make of that criticism? >> well, just let me say good morning, soledad. happy valentine's day. >> thank you. you'd be the only person who has said that so far to me today, ma'am. go ahead. >> you know, i think that the republicans have made it

pennsylvania pat toomey. i know you and i had a discussion on this this morning. how comfortable are you with the idea of decoupling, because this is what this is, it's a two-part strategy, decoupling the payroll tax holiday extension from unemployment benefits and the so-called doc fix, and extending it a year without paying for it? >> i'm going to think about it, chuck, i have reservations, i think it would be better for it to be paid for. it comes out of social security resources and yeah, it should be offset, so i'm going to wrestle with this one. >> and i want to ask you, you want this extended for sure or do you simply say, if you are going to do this, you are not crazy about it, but you have to offset it? i'm trying to understand your position. >> i'm comfortable with an extension of it, but i think the extension should be offset. let's see what the house sends over, but i have reservations. >> and about the unemployment insurance benefit and the doc fix, you okay with that as long as it's paid for? >> they should be paid for, i would like to see reforms in

did the right thing for our country. >> gentlemen, let's -- >> supporting arlen specter over pat toomeyroute to support a guy who is pro-choice -- >> about as -- >> in 1996 -- >> let's move the conversation along and take a question from a voter in our audience. identify yourself and ask your question please. >> my name is gary lot and i'm from kingman, arizona. it seems that arizona has come under federal attacks just for wanting to secure it's southern border. what will you and your administrations do to fix the situation, to secure our border, and to protect the american people? >> congressman paul, i want to go to you first. you're from a border state. as you answer gary's question, a recent federal analysis says the cost of federal fencing would cost about $3 million per mile. is that a good investment, money well spent? >> probably not, but we can do a better job and the best way to do it is forget about the border between pakistan and afghanistan and deal with our border, put the resources on this border. this is what we need. but we need to change the rules. we reward illegal im

. >> supporting arlen specter over pat toomey was a very torturous run. >> former pennsylvania senatoren specter will be here to separate fact from fiction in his connections with rick santorum. plus, holding out for a hero in today's deep down we'll show you how there is still time for someone new to jump into the republican race and win enough delegates to create a contested convention. but first a look ahead at the president's schedule as kristen told you about, his big meeting today, with democratic governors. [ man ] predicting the future is hard. but i have this new smartphone. and now i can see everything more clearly. ♪ i can organize the analysis. sort through all the data. maybe even rattle some cages. i predict that i'm going to like the future. because the future is where i'll be serving up humble pie. with a little side of crow. [ male announcer ] at&t introduces the samsung galaxy note. a smartphone and tablet in one. ♪ two. three. one. two. and, three. [ male announcer ] with the bankamericard cash rewards credit card, earn more cash back for the things you buy most. 1%

spector, the pro-choice senator of pennsylvania, that you supported and endorsed in a race over pat toomeys it rip. tearing into rick santorum again and again at the final republican debate before arizona and michigan vote. did santorum just blow his best chance to take down mitt romney? >>> president obama apologizes to afghan's president. as the koran burning leads to the death of u.s. troops. >>> the issue of women's health and who controls bodies dominating the debate both in washington and virginia. i'll speak with the democrats' sole witness on capitol hill. and i'll talk with the virginia lawmaker opposing that state's ultrasound bill. >>> hello, everyone, i'm luke russert filling in for thomas roberts. and we have a lot on th

senate victor in pennsylvania, pat toomey. so they might make something of that endorsement, but i don't think that has, you know, legs, so to speak. i think it will be largely the government spending largess, the pork, the earmarks. think they'll go down that road and see what they can locate. >> professor terry madonna at franklin & marshall college in pennsylvania. thanks for being with us. >> thanks for having me. >>> the trivia question, what was the 48th state? it is arizona. today arizona celebrating its 100th anniversary on this date, february 14, 1912. arizona shed its five-decade status as a u.s. territory. it became the last state in the contiguous united states, and jan brewer, who is the governor of arizona outside the old capital in phoenix, commemorating this anniversary. >> good morning to all of you on this beautiful, glorious day that we're celebrating. the day we celebrate arizona's 100th year of statehood. i'd like to begin by reading from a proclamation i signed officially designating this day, the 14th da

romney threw it right back at him about pat toomey, and santorum fell into the trap.m did not set the agenda. romney did not follow through as was indicated on his economic plan, but by golly, santorum hurt himself by being -- appearing weak and defensive. >> do you agree with that analysis and critique of santorum? i want to just read this one more. i'm paraphrasing. santorum is under attack from romney and also from ron paul about overspending, and earmarks. also voting for no child left behind which turned into a big spending federal education bill. so santorum, look, tongue-tied. he said politics is a team sport. sometimes he has to take one for the time, which means he was defending george bush's policies as a member of the republican leadership. how bad did that hurt him? >> it hurt him with conservative voters that are up for grabs. the bush leg as where i has evolved and particularly among the deficit crowd, there is an awareness that medicare part d and the iraq war were a big part of this deficit, that the bush era was not limited government by any means, an

similar letters were also received at the offices of senators patrick leahy, pat toomey and lamar alexander this week, several congressional members received the threatening packages. the fbi says they contain a powdery substance that has proved to be harmless so far. >>> in alabama, a bombshell in a trial of a man accused of murdering his wife. on their honeymoon. gabe watson was abruptly acquitted by the judge saying prosecutors did not show enough evidence that watson drowned his wife for her insurance money. her policy was worth $33,000. he was accused of killing his wife of 11 days while scuba diving on the great barrier reef in 2003. >>> coming up on "cbs this morning," the five things the airlines do not want you to know. can't wait to see that. i'm betty nguyen. you're watching the "cbs morning news." you're watching the "cbs morning news."et betty nguyen. you're watching the "cbs morning news."t betty nguyen. you're watching the "cbs morning news." betty nguyen. you're watching the "cbs morning news."betty nguyen. you're watching the "cbs morning news." are made with sweet cherries

portman 1505, toomey toomey-mccaskill, 1472, inhofe 1500, mccain 1471, leahy-cornyn 1483, coburn 1473t, 1488, grassley 1493, brown of ohio 1481. as modified. that all other pending amendments be withdrawn from -- with the exception of a substitute amendment, that the time until 2:00 p.m. be for debate on the bill and amendments with the time equally divided and controlled between the two leaders or their designees. at 2:00 p.m., the senate proceed to votes in relation to amendments in the order that i have just listed. there be no amendments or points of order to any of the amendments prior to the votes other than budget points of order. that the following amendments be subject to a 50-vote affirmative threshold -- paul 1487, collins collins -- following amendments be subject to a 60-vote affirmative vote threshold -- paul 1487, collins side by side to boxer 1489, boxer at 1489 as modified, blumenthal 1498, toomey-mccaskill, inhofe 1500, leahy 1483, demint 1488, grassley 1493, brown 1481. further, that the coburn amendment 1473 be subject to a two-thirds affirmative vote threshold. th