Page 4 - Automatic Cuts News Today

All four service chiefs on capitol hill showing how serious the house armed services committee are taking what they warn will be devastating defense cuts. if the supercommittee fails to reach an agreement, automatic cuts will begin and pentagon would have to find an additional $600 billion in reductions over the next ten years. >> there is no reason you have to see the draconian defense cuts as long as congress does its job. >> today they warned the potential cut would lower u.s. deterrent, coul...

All four service chiefs on capitol hill showing how serious the house armed services committee are taking what they warn will be devastating defense cuts. if the supercommittee fails to reach an agreement, automatic cuts will begin and pentagon would have to find an additional $600 billion in reductions over the next ten years. >> there is no reason you have to see the draconian defense cuts as long as congress does its job. >> today they warned the potential cut would lower u.s. deterrent, coul...

focusing their attention on mitt romney. paul is standing by. im wolf blitzer. im wolf blitzer. youre in "the situation room." -- captions by vitac -- www.vitac.com as controversy swirls around him, republican front-runner, herman cain, went behind closed doors with republican lawmakers on capitol hill. just a brief respite from the storm that has blown over previously undisclosed sexual allegations. earlier today, cain suggested some sort of conspiracy is at work, but he insisted he...

Deal, the defense department and u.s. military will then see major automatic cuts. the thought was even that the secretary of defense -- that thought even as the secretary of defense worried. >> its going to take us to the edge and if suddenly on top of that we face additional cuts or if this sequester goes into effect and it doubles the number of cuts, then it will truly devastate our national defense. >> joining us right now, fox news military analyst and retired four star general, general jac...

>> i should note, super committee members have been tight lipped, including with other members of congress. the calendar is a challenge, for example, the senate is here this week. the house is out. trace. >> trace: as i mentioned, unlike with other washington committees, this time there will be consequences if they cant get it done. >> thats right. if they have no deal by november 23, then by law, automatic cuts should kick in, including $600 billion in defense spending, which the pentagon has s...

>> 3 trillion? >> more than that. >> 4 trillion? >> were looking at more than that right now. >> ryan would cut spending in part by setting statutory limits on spending. if congress spent more, automatic cuts would take effect. he also plans to eliminate or trim some tax deductions and use the proceeds to lower tax rates. finally he tackled the politically dangerous issue of entitlements such as medicare which has promised tens of trillions in benefits the government cannot pay for. instead of p...

Latest updates on this topic.

Latest updates on this topic.

Politics for the president but he also holds the important cards in his hand which is to say at the end of the election year, the bush tax cuts expired, the sequesters, automatic cuts kick in and unless they come up with a better plan thats all going to go through, so if congress wants to step up and do something, they can avert this and if they dont want to do anything, all of this is going to go through and the deficit will come down. if theyre serious about the deficit coming down, theyll tak...

Stalemate. thats the word on capitol hill where the bipartisan group of lawmakers has failed to agree on a 1.2 trillion spending cut. the deadline is today to present a plan of some kind to trim the budget or face a series of automatic cuts. of course washington doesnt work and it doesnt today. theres still time for a last-ditch effort to make a deal, barely. sources say it is highly unlikely. an official announcement expected today after the markets close. the deadlock has already sent stocks t...