refareports but n prominent members of congress, including the house armed services committee chairman buck mckeon says we don't want a short flimsy report, we want a beefy report. what is congress' role in this and what has to start with congress? >> in terms of reporting, almost nothing. the cost of every report that is brought to congress, is lost in the noise, compared to the day to day cost of reporting to government agencies, to the audit agencies, to the test and evaluation people, to the program managers, and that's where the billions in excess, if you want to call it, are. so you could give to congress a 1,000 page report a day,nd and you still wouldn't be anywhere near the cost of that drip, drip, drip. >> and that's where you think the better buying power initiative failed in your -- >> it is added layers of bureaucracy. it is added layers of reporting in the system. it is more. should cost, and would cost. if it was simplifying the system, it would be great. since it is not, it is an additional tax on an already burdened system. >> how do you control the amount of stuff, the layers upo

here is the man buck mckeon. good to see you. >> let me start on the issue of job cuts because i'm still very confused over what's happening here. there's a number out from the aerospace industry saying there's going to be 2 million jobs lost next year in 2013 alone just in defense. then there's a number out from the nation association of manufacturers saying that 1.2 million jobs by the end of 2014 in defense services all the way across the board. i get the sense nobody has any idea. >> well, they know it's going to be huge. they just don't know the exact number. we've seen studies from 1.1 million jobs to secretary panetta told me last week, 2.1 million jobs, and i don't know if they're looking at just the defense side or the other side of the issue, but they're talking the sequestration is 1.2 trillion dollars of cuts that kick in january 2nd. actually those cuts are already taking place right now. people are being laid off. people are not being offered jobs because of the uncertainty. >> i'm wondering though

. >> reporter: house armed services committee chairman buck mckeon took aim at president obama at a mitt romney presidential campaign event tuesday in arlington, virginia. >> has anybody here heard the word sequestration? let me change that. do you get sick and tired of hearing we need to cut more out of defense? >> reporter: and on the presidential campaign trail, president obama and his republican rival mitt romney have traded accusations about who's to blame. >> today we are just months away from an arbitrary, across-the- board budget reduction that would saddle the military with a trillion dollars in cuts, severely shrink our force structure, and impair our ability to meet and deter threats. don't bother trying to find a serious military rationale behind any of this, unless that if i am president of the united states, i will not allow that to happen. >> there are a number of republicans in congress who don't want you to know that most of them voted for these cuts. now they're trying to wriggle out of what they agreed to do. instead of making tough choices to reduce the deficit, they'