Transcript: Senator Olympia Snowe Discusses Bipartisan Budget Plan

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Bob Edwards talks to Republican Senator Olympia Snowe, a member of 14 bipartisan lawmakers who have put their own budget plan together with hopes they can convince a majority to get behind it.

BOB EDWARDS, Host: If there is to be a budget compromise it's likely to involve a group of moderate senators from both parties who are working on a plan of their own. It calls for a smaller tax cut than the one proposed by Republican leaders and larger savings from Medicare and Medicaid than the White House currently says are acceptable. The group of senators met over the weekend with White House Chief of Staff Leon Panetta to discuss their plan. One member of ...

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