the one i think that simpson boles had that none of the other subsequent plans included just because it was too -- too radioactive but i'm still all in with the budget plan that would include get a fix on social security as well on this. senator johnson have talked about the fact in terms of fixing it, one of the easiest one there's no blame other than blaming the doctors that we're all living too long ark lot of this is just about math. so i commend the chairman and the ranking member. i hope they'll lead us in a way that this can become a productive discussion and wouldn't it be great if this budget committee rolled up its sleeves and we weren't going to have to be called a gang and we came up with a product that might end up being the framework of how we get this great national -- potential national tragedy off our backs and the country headed back in the right direction. with that i yield. >> i thank the senator. senator portman's recognized for statement. >> thank you, mr. chairman. let me start by saying i respect the work that you and the senators did on the gang of six and co

nancy pelosi has been hinting that she might be in favor of simpson boles.as just on charlie rose i want to play that clip for you and have you respond. >> simpson boles is a very good -- >> you say that now, but you did not say it at the time. >> my problem with it is as far as social security is concerned. but apart from that it gave us a great deal to work with. the republicans said they were bringing -- the republicans and democrats, it was bipartisan last week, but it was more of a caricature of simpson boles, so it didn't pass. >> congressman that scares the hell out of me. it cuts social security and medicare, and gives a tax cut for the rich. i know they get rid of some loopholes, but they cut the top rate. i think that's a terrible plan. when nancy pelosi was one of the few people standing against it. are we now in big trouble. >> this is a recognition of the political reality, and that is both sides have to show they have some concern about the deficit. but i think you really need to open the discussion. i think that's probably what she is doing no

while i strongly support the simpson-boles plan and thanks the senators for their service on the commission. one key aspect was the bipartisan nature. i assume we're going to have a chance to work on that, even though they're past the deadline. we're supposed to find the areas where we can agree and push them forward. the simpson-bowles plan is a good outline. i assume in the budget that some of those details can't be done because they're excluded from the budget. but that isn't what we're doing today. in fiscal year 2011, the

plan achieves the same amount of annual health care savings as the bipartisan plan proposed by simpson boles recommended. the president's approach would lower cost by changing the way we pay for health care with new incentives for doctors and hospitals eliminating excess subsidies to prescription drug companies and asking the wealthiest seniors to pay a little more. the president is committed to keeping social security strong particularly as more private employers move away from defined benefit plans. in his state of the union address last year the president outlined a set of principals for reform. these principals emphasize the importance of a bipartisan solution that strengthens social security and does not hurt current recipients, slash benefits for future retirees or tie the program to the stock market. as we work to strengthen social security and medicare, it is critical that reforms are slowly phased in over time so that current beneficiaries are not effected and so that future beneficiaries do not experience precipitous changes. at the same time, adjustments to social security and med

at the end of the day, i decided to do what i deeply believe and i deeply believe boles simpson however imperfect it is and there are lots of things there that i strenuously disagree with, i told my staff i'll never forget the morning of the vote boles simpson. the only thing worse than being for this is being against it. because at least it gets our debt under control and begins to bring it down. and it does it in some kind of balanced way. i'd be the first to acknowledge we've got to make adjustments to it because things have happened in the interval. i would say this also to you and i say this with sincerity. i don't believe that this is going to get resolved. i don't believe that all parties are going to get out of their fixed positions before an election. i wish we could. i wish we could. i don't see any evidence in my 26 years that that's going to happen. in fact, budget resolutions have not been done for a decade no matter who is in charge of the senate. in an election year. the only time it has happened is the last time i became chairman is 2008 i was able to get in an election

. >> simpson-boles commission ignored the recommendations. he made a curious statement on wednesday. here it is. >> others who are saying, this is just a gimmick. just taxing millionaires and billionaires won't do enough to close the deficit. well, i agree. >> gregg: is that a ready made commercial for republicans in the fall. even the president admits his own sort of signature plan, buffet rule is a gimmick? >> i think the message they should put out. in the last three and a half years the president has been in office. >> gregg: i'm so sorry. we have to go to colombia. the white house briefing. let's listen in. >>> this is matter that is being looked in an appropriate manner by the secret service itself. it would not be appropriate for the president to be characterizing at this time. all i can tell you. he was made aware of it beyond that i'm not going to characterize his reaction. it has not and much more of a distraction for the press. he is here engaging the business that he came here to do with the assembled leaders of the americas. this

boles simpson we all sat in this room and i was thrilled when ur skin boles said what we had been talking about. we know what needs to be done. the question is whether we muster the political will to do it. in terms of benefits to the country having a precedent where we have actually done it to help create 6.3 million new jobs in two years sounds like a pretty aracketive way to proceed. with respect to medicare, mr. chairman, it is clear the challenge is to protect the medicare guarantee. this is what it's all about. is protecting the medicare guarantee since the days when i had a full head of hair and rugged good looks and was director of the senior citizens program. i've always seen this as sacred grounds. we know from the trustees that run the program in a decade we're not going to have the funds to ensure that that medicare guarantee is protected. once again, i think we have an opportunity to come together. i'm attracted to the concept of premium support. premium support is not something that has been rejected which is the concept of medicare vouchers. medicare vouchers are rejected b

of a balanced deficit reduction plan, as every bipartisan agreement before has included, and as boles/simpson and other independent groups have called for and made a foundation of their deficit reduction plans. >> we will be back in a moment to talk more to gene sperling, the president's top economic advisor, about the new fiscal nightmare that might be headed our way. in just eight months time. we'll be right back. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ guys. come here, come here. [ telephone ringing ] i'm calling my old dealership. [ man ] may ford. hi, yeah. do you guys have any crossovers that offer better highway fuel economy than the chevy equinox? no, sorry, sir. we don't. oh, well, that's too bad. [ man ] kyle, is that you? [ laughs ] [ man ] still her