It's not clear how much property is available in the right places, and it's not clear how the president anticipates people who get that land will pay for construction.

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In the long run that's got to be part of the solution, rolling back tax cuts. If you don't [approach the deficit] as a shared, balanced approach where you look both at the revenue side and spending side of the budget, you don't do much to decrease the deficit. You can't do it without doing both.

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Despite what you may hear from the administration and from Congress, this CBO report does not provide evidence that the tax cuts are working and that they can be extended without worrying about large deficits.

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