and i give some credit to erskine bowles and alan simpson. and i talked to them beforehand. you made a very good point by talking about no longer long-term stability. the dollar number is secondary to the goals you set yourself. if you were going to set for america a very broad range of goals in which we have to we have to run the world to make it better, you're going to have to spend more. and if you then try to cut back people say, well, you're putting the military in a bad position because you're telling them to do this and you're not giving them the resources. we have to pull back on this overreach. and there's one principle i would hope we could adopt, and it's really implicit in the very good comments you were making about building societies, et cetera. we have a wonderful military. they are extraordinarily able people. they are dedicated. they are well equipped. and they are very well equipped at doing what a military can do, and that is to stop bad things from happening. but militaries are not the place you go when you want good things to happen. militaries stop bad

. >> rose: but the president of the united states did not offer full support to erskine bowles and alan simpson, the simpson bowles recommendations, did he? >> no, neither didi. i supported some of them but whether they did or didn't they would not have worked because if u look at the congressional members, they weren'tupportive of it. the president is not able to... in fact, i think the president finally understands that. my one criticism... i think obama's done a great job and has had polies that have made things better. i think he overestimated at first his ability to work with the republican party. i think he underestimated e extent to which this very right wing party as we see from this presidential primary was dominated by people who have no... they don't believe in government. they are not... you say why can't we work things out? they don't want to work things out. they want to shut things down. >> rose: as you well know they would argue the private sector can do it better. >> charlie, you're changing the argument from what you asked me. you didn't say to me... in effect what you

he would do "something else" after leaving but he did not specify what he would do, erskine bowles couldidates to succeed geithner. >> meanwhile, john travolta's stolen mercedes found at a chop shop in l.a. the actor's 1970 convertible, look at that. beautiful. it's worth about $100,000. it was stolen while he was at the jag dealership. by the time police tracked it down, it was all chopped up. it was in pieces. here's what's left. the seats, the speedometer and two suspects under arrest. >> this story will tick you off probably. a convicted murderer on death row in north carolina bragging about his life of leisure behind bars and he's right. danny hembry jr. convicted of killing a 17-year-old girl and accused of killing two other women wrote a letter to his hometown paper about his awesome life in prison. he bragged about the free medical care, three balanced meals a day, taking nance whenever he wants, the tv and air conditioning. he also says it's unlikely he'll be executed in the next 20 years. >> taxes or the g.o.p. presidential race, one pintsized new jersey resident asking governo

erskine bowles, head of the debt commission said that the most predictable crisis in our history is the coming debt crisis. even ben bernanke said our debt is unsustainable. there is only one candidate in this race who would balance the budget in one term. [cheers and applause] >> there is only one candidate who would cut $1 trillion in spending. [cheers and applause] >> there's only one candidate who understands that conservatives and liberals will have to get together to cut spending. the conservatives will have to understand that not every dollar spent on the military is sacred or wisely spent. [cheers and applause] >> liberals will have to understand the same. not every dollar spent on domestic spending or welfare is wisely spent or sacred. spending will have to be across the board. [applause] >> there is only one candidate who never has been accused of flip-flopping. there's only one candidate who has never taken a congressional junctionette. there's only one candidate who stands above head and shoulders above who lobbyists will tell you is incorruptable. [cheers and applause] >> t

. -- erskine bowles and jeffrey immelt. he has people around that like him and they have a lot of influence on the oval office. the finance his campaigns. the outcome of that, the product of all this, it is an administration that has policies that are very favorable to wall street. but not to main street. president obama opposes a 1% tax on the wall street derivatives. especially the instruments that got us into trouble in the first place. president obama has not tried to stop that. we need a progressive who is going to get in there and fill the void. did the things the president has failed to do. that is the breach i want to fill. i hope to answer your questions tonight. >> thank you. that concludes at the opening statements. we will now go to our panelists. 45 seconds. the first question -- the clock is right over here. thank you. the first question is to mr. wolfe. >> thank you for your opening statement. he wrote all logic that new hampshire the first in the nation so i wouldn't have recommend you keep to his limit. fol

erskine bowles, head of the debt commission said that the most predictable crisis in our history is the coming debt crisis. even ben bernanke has said our debt is unsustainable. there is only one candidate in this race who would balance the budget in one term. [applause] there is only one candidate who would cut $1 trillion in spending. [applause] there is only one candidate who understands the conservatives and liberals will have to get together to cut spending. the conservatives will have to understand that not every dollar spent on the military is sacred or wisely spent. [applause] liberals will have to understand the same, not every dollar spent on domestic spending or welfare is wisely spent or sacred. spending will have to be across the board. [applause] there is only one candidate who has never been accused of flip flopping. there's only one candidate who has never taken a congressional junket. there is only one candidate who stands above had and shoulders -- head and shoulders above, lobbyists say is incorruptible. [applause] there is only one candidate who the soldiers trust, o

he surrounds himself with people like erskine bowles, people like jeffrey campbell -- jeffrey imult,ce on the oval office and finance his campaigns. the product of all of this is an administration that has policies that are favorable to wall street, but not to main street. president obama opposes a 1% tax on wall street derivatives, especially the instruments that got us in trouble in the first place. president obama opposes a legal wall of separation which we had during the new deal up until 1999 that would keep community banking free of speculation. banks could do their traditional function without involved in a casino capitalism and president obama has not tried to stop that. with a progressive to get in there and fill the void and do the things the president to had some much promise and personality has failed to do, and that is the breach of want to fill and hope to answer your questions after this meeting and during the time allotted to us. >> thank you. that concludes the opening statements of the to the candidates. we will now go to our panelists who will alternate asking deca

. -- erskine bowles and jeffrey immelt. he has people around that like him and they have a lot of influence on the oval office. the finance his campaigns. the outcome of that, the product of all this, it is an administration that has policies that are very favorable to wall street. but not to main street. president obama opposes a 1% tax on the wall street derivatives. especially the instruments that got us into trouble in the first place. president obama has not tried to stop that. we need a progressive who is going to get in there and fill the void. did the things the president has failed to do. that is the breach i want to fill. i hope to answer your questions tonight. >> thank you. that concludes at the opening statements. we will now go to our panelists. 45 seconds. the first question -- the clock is right over here. thank you. the first question is to mr. wolfe. >> thank you for your opening statement. he wrote all logic that new hampshire the first in the nation so i wouldn't have recommend you keep to his limit. fol