492 Billion News Today

The fastest printer. the fastest lunch. turkey club. the fastest pencil sharpener. the fastest elevator. the fastest speed dial. the fastest office plant. so why wouldnt i choose the fastest wifi? i would. switch to comcast business internet and get the fastest wifi included. comcast business. built for business. chappaq to hear democrats discuss it, republicans should stuff it. a columnist says a deficit of $492 billion means were rolling in bucks. a senator begs to differ. are we rolling in th...

Members of congress are getting ready to take up a massive government funding bill that nixes the threat of another government shutdown. negotiators have released their bill that funds the government through september the 30th. it puts $521 billion into defense, $492 billion in other programs. theres no new funding for obamacare, but some sequester easing. theres even a ban on new light bulb standards, a 1% pay raise for federal workers. it also bars officials from ending saturday mail delivery....

Reserves most of them. the smaller contractors would have trouble getting their lines of credit extended, trouble keeping their employees if they cant be assured of continued employment. >> the only way to avoid the automatic $492 billion in cuts to the pentagon over the next nine years is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of ...

Looking good. a fifth day of concern there among investors on wall street. jon: flirting with out 13,000 barrier. part of the looming fiscal cliff includes a castilian dollars in custom military spending. it is called sequestration. many military experts are concerned about the impact of sudden spending cuts and how it could impact national security. molly henneberg has more on that this morning live from washington. reporter: the cost will be big. the cuts will be large. if we go over that fisc...

Well, the president and republicans agree on very little in their fiscal proposals. with one glaring exception. neither proposal specifically includes defense cuts. in fact, both sides have gone out of their way to say they shouldnt happen. but if theres no deal, they may happen anyway. in todays "deep dive" how the sequester could impact our military, our economy, and our safety. the budget control act calls for about a trillion dollars in automatic cuts to begin in january if laes no deal. hal...

Congress can not agree to a budget deal before then. and that doesnt seem to be very likely at this point. those cuts would come on top of the 492 billion that president obama and republicans already agreed to last summer. the pentagon had said those cuts in of themselves were pretty tough for them to handle. nonetheless these cuts may be coming on top of it. joined by new hampshire republican senator kelly ayotte. she is on both the senate armed services committee and the senate budget committe...

Divide. >> you have to have all republican and democrat with 60 votes in the senate. >> look at what happened in the senate when the president of the united states submitted his budget this year, it failed 97-0. meanwhile, if this thing does fail tonight, heres whats going to happen, they have to find $1.2 trillion worth of cuts. otherwise the trigger option goes into effect. keep in mind, the trigger option does not go into effect until the january after the presidential election. >> theyre sti...

Achieve the goal of this committee. so talks have taken place over the weekend. theyll continue to take place. >> weve been willing to talk to any republican who says, look, the apologies that we have is not going to disappear. we need to cross that divide. im ready, im waiting. >> steve: but ultimately it sounds like at the end of this day, its not going to happen. when we say this day, even though the deadline is wednesday at midnight, you got to have things, as we look at what happened if the...

Washington, d.c. take it to the 11th hour. make everybody sweat it out. take it to the 11th hour. take it to chicken and come together at the last minute and do something. thats not what is happening. >> now its going to the eighth hour. >> going backwards. >> the deadline is off a little bit. lets just cash in our chips now. we got to get home to the kids, babysitter is coming. >> just like the debt ceiling. they started out big. that t. was going to go big, big like a 5 trillion-dollar cut ide...

Bill. all members of congress look at it and review it before they can actually put it to a vote. that deadline is wednesday for that vote. >> what happens if nothing happens today? if they cant reach a compromise as senator jon kyl was just talking about? well, $1.2 trillion is triggered. the trigger option known as the sequestration goes into effect. that means that $492 billion will be cut out of the defense budget and 123 billion from entitlements. it also means there would be no plan to ext...