>> well, i think they have a resession on the budget is a loser, and that is not ultimately where wel end up. ultimately in the next few years, we will be forced to increase revenue and not just because the public wants it, but that is the only way that you can bring us into balance. i'll be the first to admit that we need to do things differently, and we could have had a bipartisan effort to start drawing down some of the military expenditures and there is a bipartisan coalition developing to change agricultural subsidies away from the large agri-business. >> let's not get far off of the topic here, because you called this an artificial crisis and doubly so because of what you say is a false narrative and what you just said and then tying the debt ceiling to deficit reduction. >> absolutely. i mean, this is something that was a crisis of choice. the republicans didn't have to bring us to the brink, and frankly one of the tools that i wished the president had not taken off of the table was the use of the 14th amendment. i don't think that anybody here feels that if the roles had reve

they both lost significant numbers of jobs, more so than in most past resessions. probably with state government, it might be the biggest decline we've had ever during a recession. >> but it appears that less money will be going to the states. it's always puzzling to me, we hear these comments that we should not raise taxes on the richest of the rich during a fragile economy, but at the same time, in my state, we've had to lay off people and we had furloughs, and i'm sure that's happening in a number of states. and yet these people, even on the hill, in the committee that i'm the ranking member over, we've got employees who have taken a 5% to 10% cut, and we've got federal employees who their wages have been frozen. in a fragile economy, by the way. and i'm just wondering, can you talk about this minnesota situation? you referenced it. tell me about that as it relates to state jobs. >> sure. we haven't produced official statistics yet for minnesota, but the governor's office has released the numbers that the state of minnesota laid off about 22,000 workers. i belie

we came out of the resession of the '80s with home ownership rates stagnant at levels they were at inhe early '80s. we had home prices rises and get wages were flat. washington in its wisdom recognized there were two options. either figure out a way to increase wages stainable, or lower the standards to increase home ownership rates. they chose the latter. we embarked upon the largest public/private partnership ever in the history of this country. it had all of the parties. it had treasury, hud, fannie, freddie, realtors, home builders, community groups and special interest groups. all of them were involved in the push to increase home ownership to intended record levels by the end of the millennium. and they created a platform that would carry that out. that includes reduced down payments, changes in building quality, innovation of new mortgage products, and all of these were stated goals, implemented as part of the policy, part of the plan, part of the notion of wrapping ourself in a culture of ownership. ownership society without ever having a discussion about what it was. and we f