we all have to face which is that our expenditures as a country way exceed the income, and as erkin bowlesd, this is the most predictable crisis in the country's history and we have to do something about it, but it is a political process as well as economic process and with all due respect, i believe, a, we should have had much more in the expenditure cuts because of the weak economy, but over the next several years larger cuts in expenditures and if it took a modest amount of tax increases reduction and then some tax increases, the tax cuts are what helped grow the economy. with clinton, what happened is that the economy didn't turn around until the republicans captured the house and the senate and they also cut the capital gains tax. so those are -- >> well, let me bring in mort zuckerman who is smiling wryly at the description of leaches here. mort, over to you. >> well, let me say that there is a fundamental issue that we all have to face which is that our expenditures as a country way exceed the income, and as erkin bowles said, this is the most predictable crisis in the country's his

we all have to face which is that our expenditures as a country way exceed the income, and as erkin bowles said, this is the most predictable crisis in the country's history and we have to do something about it, but it is a political process as well as economic process and with all due respect, i believe, a, we should have had much more in the expenditure cuts because of the weak economy, but over the next several years larger cuts in expenditures and if it took a modest amount of tax increases to get that done, i would have supported it. i do agree that we absolutely must do something about this deficit, because otherwise, we are going to break the fiscal side of this economy and break the economy. we cannot support the kinds of deficits that we have incurred, and there is no question about that. and any frankly, any reasonable economist would say that. >> gentlemen, thank you both very much. co >>> coming up, what the $2.4 trillion deal means to you. dave ramsey is here to explain. p here for the view up in alaska. it's the cleanest, clearest water. we find the best, sweetest crab for re