saxby chambliss just gets up, come on, let's do it. anyway, special day. it's our president's 50th birthday, and i am no ingrate. i got him a little something that i think he's going to really enjoy. >> a massive 500-point sell-off dousing wall street in a sea of red. >> and the bears are mauling wall street. >> watching it fall now like a rock in a swimming pool. >> the 14th-worst point decline for the s&p 500. >> extreme fear and panic. i don't know what happened. [laughter] >> jon: ♪ happy birthday to you [cheering and applause] by the way, i don't have a receipt for that. [laughter] you know, america's recent fiscal troubles and stagnating economy shouldn't take away from the fact and shouldn't let us forget that we all hate each other. [laughter] a quick reminder of that in our new segment "culture war update: the dividening of america." our first dispatch comes from a veteran culture warrior, mr. lou dobbs, who seemed a little alarmed last night over a recent development in the world of comic books. >> peter parker, who was a white orphan from queens

. >> saxby chambliss of georgia, mark warner of virginia said, can we take this bold idea and actuallyegislation. >> jon: you were on the gang of six, as well. >> i was. >> jon: the gang of six -- simpson bowles sounds like a british wedding announcement. that's not going to be. but "gang of six," this is serious business. now people are going to get hurt. [laughter] what happens then? >> first the tattoos. [laughter] >> jon: the teardrops. terrible. >> a few secret handshakes. then we sat down for about five, six months and worked it through. how do we turn this idea into a law? it wasn't easy. but we did it. and unfortunately we did it too late. if there's anything, any fault i would have with our effort, we should have done this weeks before so we were players in this last conversation. but here's what was interesting. we held a meeting about three weeks ago, invited 70 members of congress who had expressed an interest in this to come around and let us tell you what we've decided. 49 showed up. equally invited. then we said, all right, let's take the next step. are you ready to sign

as you know we discussed in my office concerned with senator saxby discussed with you. i don't want to repeat all of that. i do want to state that it is disturbing that listening these news sources are credible about secretive plans, a stealth plan, it is disturbing if those are true. these are reputable news organizations. ism "the washington post," which i don't always agree with everything they do, but they usually check very carefully before they make this type of allegation, this serious of an allegation, this kind of can't talk good stealthy secret plan. you have discussed and for the record explained your position relative to this, where you were and your relationship with mr. wolf and so forth. but the larger question is, given the politics of the issue at the time, the fact that a decision was made by someone at the highest levels to end acts to bypass through a stealthy secret plan is a serious, serious charge and if true, a serious serious offense. my question to you is, and you make your pledge to us, that you will not withhold any type of intelligence that

politicians on capitol hill know more about the budget deficit and how to solve it than republican senator saxbyss of georgia and democratic senator mark warner of virginia. they were among six senators who tried to forge a deal before the president and the congressional leadership took over the negotiations. with the wealth of negotiating experience, we asked them what they thought of the new super committee that will take over the debate now. >> i think it's going to be very difficult for this select committee to come up with any resolution that is a meaningful resolution. i just don't think the recipe is there for anything but deadlock with this committee. >> i'm not sure the committee is going to get the job done, you know, i voted for this very imperfect solution because at least it got us through the debt ceiling. >> pelley: senator chambliss, you are one of the most conservative members of the senate. the president came out today as soon as the bill passed the senate and said there would have to be tax increases. what do you make of that? >> well, there are not going to be tax increases,

>> i had a conversation with saxby chambliss our esteemed senator in may and he shrugged his shouldersand said, i had the best voting record of anyone. that is what we have to dispute. >> judy's point was a republican senator in georgia have pointed out that he was recently named one of the -- will he was recently named by "national journal" i believe the most conservative senator in the senate even ahead of jim demint despite having supported the whoosh immigration plan, they gang of six financial compromise, the farm bill and a host of other things. i just wanted to point out one of the things mike said about how they were so few people who scored so well and heritage action scorecard, most republicans scored very well on most scorecards because the scorecards i designed for them to score well. heritage action for america actually does its doesn't scorecard based on legislation, not on who needs a slogan to put on their mail piece in the election. [applause] >> i could not have said it better than eric but i will try. there is one scorecard in washington that is perceived as the gold