one is where is the reference to the appeal to the prc? what page or line is that on? >> answer forthcoming. >> i believe that that has to do with the service standard. >> the staff is kind enough to tell me that any time a service standard is violated there is an appeal to the postal rate commission. so it's broader. >> it's not in your amendment. it already exists in law? >> correct. >> secondly, that would be any post office that's proposed for closing after these standards are adopted could make an appeal to the prc on the basis that the standards, which have been adopted is required by this amendment were violated. >> that's true. and it is effective upon its passage. upon enactment. but it also the language of the amendment includes those post offices currently being considered by the postal service today. >> i understand. it includes them. it is not limited to them? >> it is not. >> and then the other question. the words market dominant products on page 3. i'm not sure what that means. if they are market competitive products, would that not be good enough. >> if

gap of $900 billion, a gap that will be filled by borrowing $900 billion from lenders, notably, the prcpeople's republic of china. republican senator tom barrasso says this. >> somebody asked me if this budget was dead on arrival. i said no, it's not dead on arrival, it's dead on arrival. >> very cutesie, tom. the obama budget also includes a plan to reduce the nation's debt. it now stands at $15.4 trillion. he's doing it by taxing the wealthy. item, income tax hike. income taxes for households that make $250,000 a year or more will jump from 35% to 39.6%. item, buffet tax hikes. those who make more than $1 million a year will be taxed at a rate of 30% or more, warren b that is. mort, do you want to comment on the budget? pull yourself together. >> this will be more than $900 billion in terms of deficits. it's going to be way above that because there are assumptions in there as to the amount of taxes we'll be -- will be raising according to the budget that will never happen. so this is a budget in which we'll add immensely to the budget deficit and to our overall deficit. and this is no

. >> what about that prc threat? your chairman is also very eloquent in voicing. any of these bills going to help tlus?

. >> what about the prc threats? will any of these bills help us there? >> that is exactly what we are shooting at. we're not worried about the kid in the basement trying to hack into the school server to change is greater. grade.is this is about stealing intellectual property. >> you often hear that the chinese and russians have the capability to do these things. the chinese told u.s. debt and that is probably true, they would not be incentivize but they are building a capability. what happens when the capability gets sold to a terrorist? the world will not work with a banking or the flow of money to lubricate the process for the transfer of goods and services. the two bags in new york that clear money clear around 7-$8 trillion per day and our economy is $14 trillion in a year. what backs of those transactions in new york city? nothing. there is no gold or printed money, it is an electronic transaction. what happens when someone contaminates that database? banking will freeze. it will cascade in a waterfall and global commerce will stop. >> in a footnot

. >> what about the prc threats? will any of these bills help us there? >> that is exactly what we are shooting at. we're not worried about the kid in the basement trying to hack into the school server to change his grade. this is about stealing intellectual property. >> you often hear that the chinese and russians have the capability to do these things. the chinese told u.s. debt and that is probably true, they would not be incentivize but they are building a capability. what happens when the capability gets sold to a terrorist? the world will not work with a banking or the flow of money to lubricate the process for the transfer of goods and services. the two bags in new york that clear money clear around 7-$8 trillion per day and our economy is $14 trillion in a year. what backs of those transactions in new york city? nothing. there is no gold or printed money, it is an electronic transaction. what happens when someone contaminates that database? banking will freeze. it will cascade in a waterfall and global commerce will stop. >> in a footnote, it does

. >> what about the prc threats? your chairman has also been very eloquent in voicing. any of these bills going to help us there? >> that's exactly what our bill is shooting at, you know? we're not so much worried about that kid in his basement, you know, trying to hack into the school server and change his grade. you know, the sort of drive-by shootings on the information highway. this is about, you know, chinese hackers using all the resources of the state and their intelligence agencies to hack? and steal our intellectual property, and that's a tough threat to defend against if you're an american company. the things we know to defend ourselves. >> you often hear that the chinese and the russians have the capability to do these things, but they wouldn't. they wouldn't be incentivized for i. the argument is china holds u.s. debt both in new york and beijing. and that's probably true, but they are building the capability. what happens when the capability leaks, gets away, gets sold to a terrorist? let me just frame it from economics 101. the world will not work without