This is CVSI and the world. I'm John Bachelor. Taxes, cutting spending, revenue. all these words are important when it comes to the burden that

the U.S. Congress has to reduce in some fashion the weight of the spending before we blow up Medicare, Medicaid, Social Security, go on and on and on. What was guaranteed to blow up unless I welcome Vanique to Riche of the Mercata Center writing a creator syndicate

quoting a congressman Jody Arrington of Texas.

The last time there was a fix to Social Security that addressed the

solvency for 75 years, it was Ronald Reagan and Tip O'Neill and it was

bipartisan.

It had revenue measures and it had program reforms. That's just the reality.

Verenique, a very good evening to you. If I understand correctly, in order to do reform, you must have taxes on the table what does that mean what

kind of taxes good evening to you good evening John well politically if you want to

reach a deal across the aisle and if you're a Republican

and you go in and just say it can only be spending cuts it's not going to fly.

So I understand why the chairman of the Budget Committee is saying

that it's going to have to be a compromise and tax revenue is going to be on the

table. That's what compromises are about. But the problem, the

difficulty is is how you structure the deal because very often what we know is that

these compromises

if the goal is to reduce the debt

to GDP

however you use an example

use an example from the round reagan at time in Washington there was was reform. They cut spending, but they wound up

acknowledging that they spent more than they cut. I think it was for every dollar

of cutting spending, they spent a dollar 14. How did that happen? Why did that happen?

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