. >> joshua gordon says that the deficit is continuing to expand because of job loss, causing less revenue and more spending on aid programs. >> you have a large deficit for four years because you have low revenues and people don't have jobs, or they're getting paid less. but also we have this mandatory spending program, which grow on autopilot. unemployment compensation, food stamps programs, medicaid-- they

. >> joshua gordon says that the deficit is continuing to expand because of job loss, creating less revenue and more spending on aid programs. >> you have a large deficit for four years because you have low revenues and people don't have paid or they're getting less. but also we have this mandatory spending program, which grow on autopilot. food stamps programs, medicaid, based on a limited economy is bad. >> the entire financial crisis is unclear. >> i think that the underlying issues of the financial crisis have not been fixed at all. maybe they can never be fixed. to lift the cloud of death that hanging over our country, and we all saw the problem of our fiscal balance overnight. what we can do is avert the cliff in a manner that serves as a down payment on an a catalyst for major solutions enacted in 2013 that begin to solve the problem. ♪ >> if you can reduce and then -- one isthe deficit increasing the amount of revenue coming through tax policy, or reduce the amount of expenditures by cutting back on spending or some combination of those two. i believe that the most credible way is t

. >> joshua gordon says that the deficit is continuing to expand because of job loss, causing less revenueaid programs. >> you have a large deficit for four years because you have low revenues and people don't have jobs, or they're getting paid less. but also we have this mandatory spending program, which grow on autopilot. unemployment compensation, food stamps programs, medicaid-- they spend more when the economy is bad. >> bethany mcllean, author of "all the devils are here," says that the entire financial crisis is unclear. >> i think that the underlying issues of the financial crisis have not been fixed at all. indeed, there is no easy fix. >> but there are still fixes to consider. >> if we want to lift the cloud of debt that is hanging over our country -- we will not solve the problem of our fiscal imbalance overnight. what we can do is avert the cliff in a manner that serves as a down payment on, and a catalyst for, major solutions enacted in 2013 that begin to solve the problem. ♪ >> if you can reduce and then eliminate the deficit through two ways. one is incasing the ount of reve

. >> joshua gordon says that the deficit is continuing to expand because of job loss, causing less revenue and more spending on aid programs. >> you have a large deficit for four years because you have low revenues and people don't have jobs, or they're getting paid less. but also we have this mandatory spending program, which grow on autopilot. unemployment compensation, food stamps programs, medicaid-- they spe ecy is evils are here," says that the entire financial crisis is unclear. >> i think that the underlying issues of the financial crisis have not been fixed at all. indeed, there is no easy fix. >> but there are still fixes to consider. >> if we want to lift the cloud of debt that is hanging over our country -- we will not solve the problem of our fiscal imbalance overnight. what we can do is avert the cliff in a manner that serves as a down payment on, and a catalyst for, major solutions enacted in 2013 that begin to solve the problem. ♪ >> if you can reduce and then eliminate the deficit through two ways. one is increasing the amount of revenue coming through tax policy, or reduc