Page 7 - Cap Spending News Today

Seeing neither bills meets muster and well be downgrading. >> a couple of things. this bill cuts spending. this bill caps spending. this bill for the first time in 50 years forces a vote on the balanced budget amendment. well have a vote on that. >> sean: can harry reid table that? >> no, he cant. thats part of this deal. well have a vote in the house and senate on this bill. we cut spending, cap spending, and get a guarante guaranteed vn balanced budget amendment. we cant guarantee it will pass...

The spotlight was on the house and among the 269 members who voted in support of the measure was none other than arizona congresswoman gabrielle giffords who made a surprise return to the floor. this is the first time she visited the floor since january of this year, and as you can imagine she was greeted with a stirring round after applause from both sides of the aisle. now, that incredible moment of unity in the house was preceded by a day of disagreements as republicans and democrats voiced s...

This tells you how far the culture has changed. we got $2.1 trillion to $2.4 trillion in spending cuts. the president started asking for a blank check, then a big increase, he got none of though, and we kept our pledge, which is we will cut more spending we will raise the debt limit by. that pledge was maintained. >> the president will get just shy of a trillion dollars -- >> 900. >> sean: $900 billion in the debt ceiling. these cuts take place over a 10-year period of time. >> thats right. >> s...

House budget chair paul ryan. good to see you. first, let me congratulate you. not only are you dealing -- this is 111 billion dollars you are going to cut for the 2012 budget. you are dealing structurally with the bill. why didnt you tell us what you passed? >> we cut 111 billion in the first year, as you say. we also capped spending. we bring spending down to cut six trillion over a 10 year period. then we move into passing a balanced budget amendment with taxpayer limitation and spending limi...

Homeland security, national security. then $2 billion to $4 billion the next year. so the cuts on defense are -- were minimized quite a bit by the most recent agreement john boehner reached. more to the point, how do you bank these cuts? what conservatives like me have been fighting for years are statutory caps on spending, legal caps in law that says government agencies cannot spend over a set amount of money. if they breach that amount across the board sequester comes in to cut that spending, ...

The spotlight was on the house and among the 269 members who voted in support of the measure was none other than arizona congresswoman gabrielle giffords who made a surprise return to the floor. this is the first time she visited the floor since january of this year, and as you can imagine she was greeted with a stirring round after applause from both sides of the aisle. now, that incredible moment of unity in the house was preceded by a day of disagreements as republicans and democrats voiced s...

Hoopla about how much was i can cut we the dust settled it was chump change. >> today we are cutting 917 billions in spending. bringing the deficit down by 917 billion dollars. going down 22 billions next year is this as much as i want? no. we offered far more but it does cap spending. >> greta: for how long? >> 10 years. discretionary spending all government agencies, legal statutory caps on it with an across the board cut to kick in if spending goes above that amount. we protect these caps sup...

Like chump change. >> we had the cbo give us the most recent estimate, we are cutting $917 billion in spending. the deficit goes down $22 billion next year. should as much as i want? no. but it does cap spending. >> for how long? >> 10 years. >> all right. >> its discretionary spending, all government agencies. we put legal statutory caps on it with a cut to kick in and we have a super majority vote threshold to prevent that cut from happening, meaning we protect the caps with the super majority...

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Hoopla about how much was i can cut we the dust settled it was chump change. >> today we are cutting 917 billions in spending. bringing the deficit down by 917 billion dollars. going down 22 billions next year is this as much as i want? no. we offered far more but it does cap spending. >> greta: for how long? >> 10 years. discretionary spending all government agencies, legal statutory caps on it with an across the board cut to kick in if spending goes above that amount. we protect these caps sup...