mr. bowles let me just follow up quickly.some people, not a lot of them, but some people would make the argument well if we have a shallow recession but we get our debt under control in ten years maybe that's not a bad deal. maybe it's painful but maybe that's what we need to do. just wanted to get... do you agree with that or is that too harsh? >> no. i think it is unnecessary. if you look at our plans, we have cuts in 2013, 2014. we reform the tax code. i think the best thing we could do for economic growth is to adopt the tax plan that we put forward. we suggested, because today we have the most inefficient, ineffective, globally anti- competitive tax code that man could dream up. and what we said is what we ought to do is broaden the base, simplify the code and we ought to get rid of all this backdoor spending in the tax code and use 92% of the money to actually reduce income tax rates and use 8% of the money to reduce the deficit. since there are $1.3 trillion worth of spending in the tax code, these deductions and credi

simpson mr bowles ok here's our unofficial suggestion that was that was that identical to the original proposal or was yes different so it was identical yes so when people talk about some symbols they're actually talking about some symbols. and it's very destructive to social security and too many democrats have talked about it have it very fav now in the meantime the president has suggested just listed lifting the cap on people with income over two hundred fifty thousand dollars for social security and people who make over one hundred ten thousand dollars pay zero in social security taxes on that income isn't that a repudiation of simpson bowles and should that encourage us yet while he said that before during the election two thousand and eight it would be very popular with the american people poll after poll shows that but something happens when people get to washington and there is a kind of and in an effort to compromise you have. a candidate romney as you showed earlier on the show talking about social security is kind of a government hando

mr. bowling just said. he is exactly right. the responsibility of the subcommittee, and i know that you will take the challenge on to make certain that the benefits are there and that we are monitoring this as we go forward. i just want to thank the witnesses, not only for their testimony here today, before your service on the committee, and in particular, you, sir, time for you to not only get engaged and involved, but for your difference in bringing us to bring us where we are today. sometimes people contribute in different ways. success of national enterprise. it helps make us a great country. >> we thank you all for your testimony, and this hearing is adjourned the. [inaudible conversations] >> janet napolitano will be speaking about computer networks in the u.s. it is part of the cybersecurity summit we are covering. hosted by the national journal and government executive media group. live coverage begins at 8:00 a.m. eastern here on c-span. >> to foster work and enterprise in the middle east and other developmental countr

mr. bowles said. "if you take last year, 100% of our revenue came -- that came into the country, every nickel, every single dollar that came into the country last year was spent on what we call 'mandatory spendinspending' and 'interest e debt.' medicare, medicaid, and social security, the entitlement programs. what that means, every single dollar we spend last year an these two years, national defense, homeland security, education, infrastructure, high-value-added research, every single dollar was borrowed." "and half of it was borrowed from foreign countries. that is crazy, crazy. it is a formula for failure in any organization." close quote. that's the man president obama chose to head the debt commission. a businessman who understands the threat this nation faces. we can get off this path. congressman ryan laid out a plan that would get us off this path. we have to get off this pasmgh . and as we head out from this senate to return to our states and visit with our constituents, and as we head into

mr. bowles said that this nation has never been on a more predictable -- we're headed -- we've never had a more -- never been on a more predictable financial crisis path. that's what he said. if we continue at this rate, we're going to have a financial crisis, like 2007. hopefully not, if we can avoid it. but if we don't change what we're doing, we're going to have one. he's absolutely confident about it. he has repeated it. and so has mr. beer thank ceevment he said these numbers are not going to continue. if you don't change, we'll have a crisis before we get there. so at the debt debate last summer -- most americans remember that, and congress should certainly remember it -- we finally reached an agreement in a now is being violated. so at the -- we passed the budget control act last august at the last minute, if you remember, to set strict spending limits over the next ten years and to create a supercommittee to solve all our proficiency we hoped, or if the committee failed -- which it did -- to enact a $1.2 trillion at least in cuts through sequestration. that's -- we raised the deb

mr. simpson-bowles told you about. but the defense comes down there, discretionary come the rest of it comes close. we were a little bit more generous on it than they were. then we have medicare, we are saying that we have to save a certain amount. then we are left over a monster instead. i saw a rare opportunity to do two or three things that this country needs with one shot. that is to reform the tax code of the country. we did that. and i guarantee you that if you put together a package that can be voted on as a package, eventually, in the legislature, be it the house or the senate, if you can do that, then you can vote on one package, they will vote to reforming the tax code and congress will vote to change it dramatically. against the commerce and cumbersome tax code of the policy. any payment, no doubt about it -- any attempt to exercise performed simultaneously -- i figured the medicare at the same time. eventually we need to find a method that can solve that problem. how do we do it? i will tell you today, let

mr. bowles when they watch those conventions must have felt, wow, here's the love we were missing.he matter is that we do have serious conversations to have about these issues. neither the republican party or the democratic party is in the midst of a zero conversation about these issues at this point. what we have done by the selection of paul ryan, one of the most inept selections in the history of government, by the selection of paul ryan. >> goodness gracious. >> mr. romney has said we do not want to have a discussion about these issues. we are going to have a discussion specifically about medicare, medicaid, social security, and we republicans are going to run on the theory that we're fans of it by nominating a guy who is going to rip it apart. >> for the record, i thought aaron burr was -- >> he wants to talk about entitlement reform. it's not a serious issue? it's the issue. >> but they are running and saying, barack obama wants to cut medicare. >> right. >> in 2010. >> i want to bring in charlies pierce who was at the debate the first of four right after we take a break. ten

mr. bowles told you about, defense comes down there. discretionary, the rest of it comes out close. we were a little more generous on it and they were, and then we had medicare. we say we've got to save a certain amount, and then we are left over with one big monstrous in. if ever i saw in 36 years a united states senator, a rare opportunity to do two or three things this country desperately needs with one shot, it is to reform the tax code of the country. we did that. and i guarantee you that if you put together a package that can be voted on and ends up a package eventually in the legislature, the of the house or the senate, and/or the senate, if you can do that where you put a package together and you vote on one package, they will vote for reforming the tax code. this congress and any congress will vote to change it dramatically. and i against the cumbersome anti-growth policies of the tax code of the united states. no doubt about it. any payment, in an attempt to get at this debt says reform the tax code simultaneously. i say to the medicare at the same time. i say do it all at

mr. bowles was a north carolinean, took some very bold steps, but i think you're right, it's going to take lead -- leadership takes followers and that's the one thing we can say and we don't have followers. if people are not going to follow the president, then we do have a vacuum in terms of leadership. host: susan rob certificates political science professor at davidson college joining us live from charlotte, north carolina, the site of the convention starting tuesday. thank you for your time this morning. guest: thank you. host: we have one more segment on this sunday edition of the "washington journal", after a short break. we will meet ryan butler of lbgt democrats of north carolina, talk to us about gay and lesbian issues in this 2012 election. plus more of your calls. be right back. >> >> i like book t-frbgs anything that's happening, anything live, i'm looking for things that are -- court rulings, anything that's really -- you want it unfiltered, you don't want to worry about commentary, it's unfiltered, pure. >> cody comes watches c-span, created by american cable companies in 1979

mr. bowles was a north carolinian, took some very bold steps, but i think you're right, it's going to takes and that's the one thing we can say and we don't have followers. if people are not going to follow the president, then we do have a vacuum in terms of leadership. host: susan roberts is political science professor at davidson college joining us live from charlotte, north carolina, the site of the convention starting tuesday. thank you for your time this morning. guest: thank you. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> we are about to hear from joe biden here. we will bring it to you as soon as he appears. we want to let to know that ""the washington post" has reported on the vice president's comments, about favoring war while ignoring the middle-class. he was speaking earlier during a campaign stop. the gop is trying to portray the vice president as a liability for president obama. republicans are attacking him in order to raise the stature of paul ryan, according to some. there is one official presidential

mr. obama has campaign stops at penn state and bowling green university. romney has campaign stops including toledo and other spots. his running mate paul ryan will campaign in colorado today. army secretary expected to return to work soon after he was injured in a bicycle accident monday night in alexandria. he is resting comfortably at walter reed medical c center. he expects to fully resume duties once cleared by his doctors. >> it is 63 degrees. still ahead, the nationals hit a speed bump on their way to wrapping up the division. >> a close look at a tornado in the midwest. [ male announcer ] for the dreamers... and those well grounded. for what's aroun this corner... and the next. there's cash flow options from pnc. solutions to help businesses like yours accelerate receivables, manage payments and help ensure access to credit. because we know how important cash flow is to reaching your goals. pnc bank. for the achiever in you. >> we are at the animal welfare league of arlington where we have lots of great pets up for adoption. including hamsters. che

mr. clean magic eraser. [ woman ] ring. ring. progresso. i just finished a bowlr new light chicken pot pie soup and it's so rich and creamy... is it really 100 calories? yes, ma'am. 100 calories. yea...i'm gonna need some proof. we get that a lot... let me put you on webcan... see? hearty vegetables... lean roasted chicken... and a creamy broth that tastes indulgent -- but isn't... so feel free to enjoy a bowl anytime. mmm i can still see you. [ male announcer ] progresso. you gotta taste this soup. [ female announcer ] almost nothing can dampen a baby's mood, when he wakes up dry in pampers. unlike other diapers, pampers has 3 absorbent layers, for up to 12 hours of protection overnight, and more beautiful mornings. ♪ [ female announcer ] pampers. peaceful nights. playful days.

bowl win. his dad said mr. proud but embarrassed by the outpouring of love and support. >> you can imagine for any family who loses their father or any loved one, how difficult it is. and to be soothed by thousands of broader family members, it makes me feel elated. i could float out the door. >> we're told there will be a series of tributes to modell during monday night's home opener. modell will be laid to rest tuesday. >>> baltimore city police are investigating an early morning shooting in east baltimore. officers were called to edge comb circle north just before 2:00 saturday morning. that's where police found a man who had been shot multiple times. the victim was taken to an area hospital. we're told he is expected to survive. >>> and 30 minutes later, western district officers responded to a call about shots fired on gold street. there, officers found two men suffering from gun shot wounds. both victims were taken to area hospitals. one of the victims maurice mccoy died from his injuries. the other victi

bowles-simpson plan. they walked away from the joe biden talks. mr. cantor himself walked away from those.nd they walked away from the boehner/obama agreement. so i'm hopeful that we will come to agreement. i think moody's is correct. if we don't, we will undermine confidence and undermine credibility of the united states. we need to come to agreement. we need to sit down together and reason together and adopt a balanced plan. that's the trick. >> so what's your vision? when would you expect an agreement? >> i don't expect any agreement before the election. i think frankly the republican posture has been that they're right, that the obama administration has been wrong on growing the economy. i think they're wrong on that, but that's been their position. and i don't think they're going to come to any agreement prior to the election. i think it's not a context for an agreement. what i'm hopeful is that we will not waste the lame duck and that we will very shortly after the election engage in a way that shows patriotism and commitment to country, not to party. >> right. well, we did hear from

a bowling date is rdly rushing thgs, jess. are we keepi you up ? - oh, i'm sorry, mr. brashov. - do you suppose i could leave a little early tonight ? - by all means, leave early. perhapyo feel better tomorr. jamal, what do you know about computers ? i know tt ey're ry expensive and that i can't afford one. but prices are coming down at th. this is a closeout. it's on sale because it's lt year's model. but it would work, wouldn't it ? sure but it would be slow. and it might betotally outdated in a couple of years are you thinking of buying a computer ? i'd be gd to help you choosene. no. ias just curious, that all. oh. it wod be nice to own a compur. unless mr. brashov suddenly dides to give me a raise it's a luxury i can't afford. that makes two of us - jamal, do you like to dance ? - not with you. that's not what i meant. do you and jihan evero dancing ? oh, no. not anymore. wi a baby, tt's another luxury i can't afford. whdo you want to know i was just curious that's all. this is a very strange day. - i want to watch cartoons. - no way. we're tcng the game. - you ch

bowl anytime. mmm i can still see you. [ male announcer ] progresso. you gotta taste this soup. well, if it isn't mrin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. >>> our next viral video hit the internet in 2006 and immediately had people wondering, is it real or is it fake? >> i'm going to stop a lawn mower, white male. >> the action is caught on a police dash cam. >> what is this guy doing? >> you kind of go like, this can't be real. >> what's your name? >> steve. >> but then you're like, but it could be because this is clearly a police officer's dash cam. the guy gets out, dressed to the nines as a cop. >> it certainly has a lot of elements that lend it credibility. >> how long you been riding a lawn mower? >> about two

mrs. king and she will crumble on the court. [ woman ] ring. ring. progresso. i just finished a bowl of your new light chicken pot pie soup and it's so rich and creamy... is it really 100 calories? yes, ma'am. 100 calories. yea...i'm gonna need some proof. we get that a lot... let me put you on webcan... see? hearty vegetables... lean roasted chicken... and a creamy broth that tastes indulgent -- but isn't... so feel free to enjoy a bowl anytime. mmm i can still see you. [ male announcer ] progresso. you gotta taste this soup. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> 5:45 in the morning as we look at a live picture, the commute begins here in new york city. let'

mr. modell and his family. >> she proudly wears the ring he won with the 2000 super bowl ravens, the only super bowl won by an art modell team. the ring still rekindles memories of how a team, a town, and the men converged. >> the important thing is it was not just his raymour his lombardi trophy, but it was the people's trophy. you have the lombardi trophy inside the stadium signifying it was for the fans. >> as the ravens stand on the edge of a new season, the loss of their owner will serve as a motivator and memory, a memory of how one man's vision can change a town and a motivator to create a season as meaningful to baltimore as art modell. it will hold a silent tribute saturday from 11 a.m. to 1:00 p.m. the legacy includes generous -- tremendous generosity. >> from the patrician art modell performance center to fields bearing his name, art and pat modell left a lasting mark. >> they would go to places and they want to make sure there were not just getting the money. it wanted to be there and see what was happening. >> their legacy includes a $3.5 million trichet. >> it allows us to do so many different p

bowles, simpson. >> steve: he's talking about. if i may mr. goolsby. the spending cuts in his budget plan are largely bogus. >> no, you just add largely bogus and i don't agree with that. we have had major cuts on the defense and discretionary of 10 year freeze . the budget window is a 10-year window . the alternative that mr. romney puts forward is not specific. he proposed five trillion in tax cuts and you heard what mr. hubard said. i will find loop holce to close that. >> steve: i want to go if i can, it is it a lejet mate point to mr. hubbard. mr. romney wants to cut five billion from the deficit and balance the budget by 2020 and offers no details and he would increase defense spending by two trillion over the 10 years and he would rescind the 716 in medicare that the president gets in obama care. the question mr. hubbard and this is true about not detailing the tax deductions. why not level with the voterss and say how you are going to achieve the admirable goals. >> governor romney has a two-part budget plan. far more so than any candidate. fir

mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob.t asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪ for real. ...that make a real difference. when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of

bowles. if we just adopt the commission's report, all our fiscal problems go away. mr. speaker, as you probably know, simpson-bowles decided not to do anything about social security and medicare. now social security, it turns out, is pretty solvent. it will be there for at least another 20 years, giving us a fair amount of time to solve the problems for future generations. but again, the center for medicare says we may only have four years to solve the medicare problem before it goes bankrupt. and if our seniors right now think they have problems now, getting their health-care and finding primary care doctors, imagine when the program goes bankrupt. now, we have a choice. we can deal with it or kick the can down the road. i'm proud of vice presidential candidate, one of our colleagues, mr. ryan, has decided that the time to kick the can down the road is over. it's time to tell our seniors and americans what they suspect. we have been making promises. we have no way of keeping. we have been spending money we don't have. and it has to stop. and if the gentleman from michig

mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob.t asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. >>> when people talk of freedom -- i've heard you talk to freedom -- they look at iran and they say there are still laws banning homosexuality. you have a law that bans single women from going skiing on their own. and they say, what kind of freedom is that, if people can't be gay because they were born that way, or they can't go skiing as a single woman? what do you say to critics? >> translator: now, you have managed to mix a number of things here. for a single lady to go on a trip to go skiing, is that forbidden if iran? who has told you that? >> it's not forbidden? >> translator: i'm hearing it from you. >> it has been widely reported that you brought in a rule that said single women c

mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you fod a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. seems they haven't been moving much lately. but things are starting to turn around because of business people like you. and regions is here to help. with the experience and service to keep things rolling. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together. >> rick: here are top headlines: last western detainee held at guantanamo bay has returned home to canada. the 26-year-old arrived at the military base on a u.s. government plane today. he will finish out his eight year sentence at a maximum security prison in ontario, can new york congressman peter king is calling for the resignation of the u.s. amb

mr. obama a 10-point lead over mitt romney in ohio. about 90 minutes ago, the president spoke to a crowd of cheering students at bowling green state university. he said romney is a big believer in top down economics. >> they basically think if we spend 5 trillion-dollar on tax cuts that favor the very wealthy, then, don't boo. vote. >> vote. >> today, mr. obama's campaign staff confirms reports that they will spend three days in nevada preparing for the presidential debate. >> mitt romney face as uphill battle in westerlyville and he received a big boost from jack nicklaus. he called him a fellow champion in business and economics. he said as president he would strengthen america. >> i will strengthen america. and i will strengthen our values and homes and our economy to make sure this economy can ignite our capacity to put people to work and provide the resources we need to have the strongest military in the world. >> romney criticized obama's economic policies and the  interest payments alone on the national debt are higher than the budgets of several government agencies come pined. >>> at the u.n. general assembly, the president of iran

mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitch more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that means with schwab, tdd#: 1-800-345-2550 your portfolio has tdd#: 1-800-345-2550 a better chance to grow. tdd#: 1-800-345-2550 and you can trade all our etfs online, tdd#: 1-800-345-2550 commiss

mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob.ust asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. ♪ [ male announcer ] introducing a stunning work of technology. introducing the entirely new lexus es. and the first-ever es hybrid. this is pursuite first-ever es hybrid. of perfection. for many, nexium helps relieve heartburn symptoms caused by acid reflux disease. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. >>> so the dow is up solidly. up more than 80 points with about 20 minutes of trading right now. depending on tomorrow's action, listen to this, this is a great statistic. the dow righ

mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. olaf's pizza palace gets the most rewards of any small business credit card! pizza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet?wards with 2% cash back >>> tonight we're taking a closer look at zillow, letter z. the website where home buyers and renters go for all things related to real estate. a living data base with information on more th

making the vice presidency more than would have been called a warm bowl of spit or -- see what julie was saying is something than mr. smith's book covers as well. this idea that they got along well in spite of their respective circumstances and their abilities. the case in point in the alternative would be eisenhower and macarthur. when you see pictures of eisenhower and macarthur together in his cozy situation in manila, you have a general and then you have a staff aide in the staff it is leaning over respectfully and providing the general was a message that he is to to approve and so forth and he is all very humble but what i think, they are going to blow up. this is a relationship that's going to blow up and if you look at it in retrospect and you say of course it was going to blow up. the person who commands u.s. forces in except the japanese surrender in tokyo bay and september 1945, this is macarthur the great theater commander and dwight eisenhower commanding the american theater. these are two people who are not naturally supportive -- subordinate relationship. no wonder they blew up, and they did. eisenhow

mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's gis. ats in. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. ♪ that nobody else could do >>> you know, underneath the official campaigns there's a whole lot of money and a whole lot of weird. we're going to be looking into that with one of the dark weird money guys for "the interview" tonight. tonight. that strght ea when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ..as a rul their stusace hr l. of their subjects. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. how did i get here? dumb luck? or good decisions? ones i've made. ones we've all made. about marriage. children. mo

bowl can be pretty significant -- ie, the dollar, the dollar. >> you say it's obvious about the dollar, it's not obvious to the federal reserve. mr. bernanke never refrss to the dollar, doesn't believe in king dollar or stable money or any of that good stuff, ron. that's my problem with this. >> yeah -- >> they let this thing go twice in the last couple years, this being the dollar exchange rate. so these qes came to no good. >> you know what, larry, i like your term on q-finity, which is appropriate, but let's defend the fed for a moment. the fed has a dual mandate, they have inflation and unemployment. and no one else in washington is doing a darn thing. and so, look, i'm not going to defend the pumping, mass pumping of money. i don't agree with it. but guess what? i'm glad someone's doing something. >> jim let me ask you the same question. someone's doing something good. now, i go the other way on this. if you're going to put in $480 billion every year, $480 billion a month, this is the largest federal reserve expansion in history. it's like the absolute reversal of what paul volcker did over 30 years ago to fight inflation. if

mr. mar. don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. ♪ something to me ♪ that nobody else could do ♪ something to me sleep train's inveis ending soon. sale save 10%, 20%, even 35% on a huge selection of simmons and sealy clearance mattresses. get 2 years interest-free financing on tempur-pedic. even get free delivery! sleep train stacks the savings high to keep the prices low. but hurry, the inventory clearance sale is ending soon. superior service, best selection, lowest price, guaranteed. ♪ sleep train ♪ your ticket to a better night's sleep ♪ >>> you know, underneath the official campaigns there's a whole lot of money and a whole lot of weird. we're going to be looking into that with one of the dark weird money guys for "the interv

mr. speaker, very frankly it was addressed in a plan called the simpson-bowles plans, perfectly know. will we agree on everies a pkt? no. it was a plan that said we had to a balanced approach to doing this. we had to deal with entitlements. we had to deal with revenues. and, mr. speaker, we are now collecting 14.8% of revenues. that's lower than at any point in time in the last 70 years. if we were a business we would have been bankrupt a long time ago. we could keep borrowing so we could keep spending without putting a pay-go discipline that we had in the 1990's that helped, mr. speaker, balance the budget four years in a row. the only administration in the lifetime of anybody hearing, seeing or knowing that we're here that that's been done. it was done because we paid for what we borrowed. mr. speaker, we're going to have an opportunity, not in the next two days of this session before the election, but we're going to have a lame duck. we're going to have to come back here. we are going to have to do some serious things. we need to as americans, not as democrats, not as republicans,

mr. speaker, very frankly it was addressed in a plan called the simpson-bowles plans, perfectly know. will we agree on everies a pkt? no. it was a plan that said we had to a balanced approach to doing this. we had to deal with entitlements. we had to deal with revenues. and, mr. speaker, we are now collecting 14.8% of revenues. that's lower than at any point in time in the last 70 years. if we were a business we would have been bankrupt a long time ago. we could keep borrowing so we could keep spending without putting a pay-go discipline that we had in the 1990's that helped, mr. speaker, balance the budget four years in a row. the only administration in the lifetime of anybody hearing, seeing or knowing that we're here that that's been done. it was done because we paid for what we borrowed. mr. speaker, we're going to have an opportunity, not in the next two days of this session before the election, but we're going to have a lame duck. we're going to have to come back here. we are going to have to do some serious things. we need to as americans, not as democrats, not as republicans,

mr. woodward. guest: i ask the president about this two months ago. he said the proposals by the simpson-bowles commission included in eliminating some of the tax deductions are cutting back on the charitable deductions, health insurance deductions, and the mortgage insurance deduction, the president told me that those would be "wildly unpopular." they would never pass congress. i think he's right. you need some sort of serious tax reform negotiation that would take months, maybe a year, maybe longer. reagan did it in his presidency in 1986. they were able to lower the rates and are virtually get more money for the federal government. it's harder now, but it's possible. this expression of confidence, erskine bowles and al simpson deserve a medal of honor for survival in pushing on the issues here. the problem is politics. this book is called "the price of politics" because when it comes to political calculations, they say we should not do something painful or, to use the president's expression, "wildly unpopular," he wants to get reelected. people in congress have the same feeling. we have not

mr. clinton asking that question which i think is a tough question, if president obama would have embraced simpson-bowles or bowles-simpson with a strong spending and deficit reduction plan he could have taken the advantage in this election but he hasn't done it yet, austin. why not? >> there's two.. i agree with what doug said. i don't think you can say hey let's go back to 1999 and have what we had then because there were a bunch of things that were not really sustainable or applicable to the right now. i think bowles-simpson most of the people who say we should just have done bowles-simpson oftentimes they haven't looked in detail in what's in bowl bowles-simpson. they are talking about raising the tax rate on capital gains. top rates come down a little bit but the capital gains rate goes all the way to ordinary income, and bowles-simpson does raise taxes on the middle class. if the president explicitly done that republicans would not have met him and said hey that's a great starting point why don't we agree. they would have said -- >> doug you get the last word. >> i think it's right that not everyon

bowl. the public viewing will take place between 11:00 this morning and 1:00 this afternoon. attendees will receive a card saluting mr. modell. you can park for free in lots b and c. once you arrive you can enter through gate a. the tribute starts at 11:00 this morning, goes toil 1:00 this afternoon. as a salute to mr. modell fans are suggested and urged to wear purple. coming up in the next half hour i'll have more on how the ravens will salute art modell during monday night football. >> thank you, sheldon, very much. course, the ravens will be playing this monday night. it's time to get the old grill out, stock up on the plastic cups and get those footballs and frisbees out. tailgating is ready to make its regular season debut. >> but while the ravens season opener waits in the wings, bird land is a flutter with the pennant race going on at camden yards. >> well, take a look around. everywhere you look there's orange, there's purple. baltimore is on fire for this weekend. so it's exciting. that pretty much sums it up for baltimore this weekend. >> i am definitely in overload. i'm loving it. whoo! >> from the yard t

conference of mayors we passed the simpson bowles plan as a template for moving forward and the president has done the same. you talked about the republican convention. mr. ryan raised that as well. what he didn't say is he was a member of that commission and didn't vote for it. >> chris: i understand. it was the president's commission and he did nothing with it. >> what the president has done he is also cutting $4 trillion out of this deficit. now, he is not cutting -- >> chris: but in a way that republicans will never buy. the other plan had bipartisan support. >> he didn't have mr. ryan's support. and you are right, it it wasn't exactly reflective of mr.-- it did have republicans and it had democrats as well. not enough of them. it should have had a unanimous support for it as a frame work, not for everything in it. and what the president has done, he has adopted $4 trillion in deficit cuts over the next ten years. what he didn't do is he didn't want to cut defense as much and he actually went beyond them in terms of tax cuts to the middle class. he does not want to cut taxes for the middle class. he would prefer closing tax loopholes and importantly