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Increase the debt ceiling, w said were not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to come up with the other $1.2 or$1.5 trillion. supposedly on the maatory side. this is where two-thirds of our spending occurs. on everything from medicare and medicaid to food stamps and ag subsidies and the like. and we focused on that. and our democratic friends were never lling t...

Long as they dont then put off those cuts from those coming down the pike in a couple of years. >> steve, youre worried about them failing. >> yes, i am worried about them failing. we need to have the big deal, the $4 trillion deal. these cuts, half of these cuts are completely ilusiory. defense, 15% defense cut is not going to go into effect. congress will quickly reverse that. and may well reverse some of the other cuts. no, we need a big deal. i dont think the automatic cuts are automatic at ...

The deficit, and would not be offset by the tax increase that you were talking about. >> how did the super committee get created in the first place here? when the president asked us to increase the debt ceiling, we said were not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to come up with the other $1.2 or $1.5 trillion. supposedly on the mandatory side. this is where tw...

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This doesnt happen often. jenna: something we an agree on. how about this. something not as easy to agree upon. one week to go with the super-committee to come up with a way to cut the deficit by $1.2 doctor over next 10 years. were learning that the they are far away at this moment. things can turn quickly but at this moment theyre far apart. automatic cuts are set to go into effect if no agreement is in place by the time we get to thanksgiving dinner. all this as the debt clock ticks toward a ...

Their jobs. watch this. >> the american people at this point are wondering about congressional leadership in failing to pass the jobs bill, the components of which the majority of americans including many republicans think are a good idea. normally by the way, the way politics works is if the overwhelming majority of the american people arent happy with what youre doing you start doing something different. so far that hasnt happened in congress. and the republicans in congress in particular. mar...

Thats gone on all the time. >> all right. >> do they or do they not? >> they work to protect us. >> not always. >> the reason why they were champing at the bit to get it out the door because they said it would create jobs. it created zero jobs. in fact, 1100 jobs were lost when they went bankrupt. sunpower said it would create 350 construction jobs and 15, 1-5, permanent jobs with a $1.2 federal loan guarantee. >> uh-huh. >> this is where you start saying, lets back up here. >> can i talk about ...

And to kill people with, and thats gone on all the time. >> all right. >> do they or do they not? >> they work to protect us. >> not always. >> the reason why they were champing at the bit to get it out the door because they said it would create jobs. it created zero jobs. in fact, 1100 jobs were lost when they went bankrupt. sunpower said it would create 350 construction jobs and 15, 1-5, permanent jobs with a $1.2 federal loan guarantee. >> uh-huh. >> this is where you start saying, lets back ...

Chief washington correspondent jim angle reports the pressure and enormity of their task are growing. >> the leader of the fiscal committee is urging the so-called supercommittee to go big. >> 1.2 is peanuts as we used to say in the grand stand. but they will have to go for more than that. >> both men suggested the committee not just aim for $1.2 to $1.5 trillion but $4 trillion in deficit reduction. >> $4 trillion is not the maximum amount or the ideal amount. its the minimum amount we need to ...

Chief washington correspondent jim angle reports the pressure and enormity of their task are growing. >> the leader of the fiscal committee is urging the so-called supercommittee to go big. >> 1.2 is peanuts as we used to say in the grand stand. but they will have to go for more than that. >> both men suggested the committee not just aim for $1.2 to $1.5 trillion but $4 trillion in deficit reduction. >> $4 trillion is not the maximum amount or the ideal amount. its the minimum amount we need to ...