Page 29 - Congress Cannot News Today

That will tara seam in the nations defense. panetta goes on to say the half trillion in additional cuts demanded by sequester would lead to a hollow force incapable of sustaining the missions it is assigned. so, clearly, concerned for those over at the pentagon as well if congress cannot find a way forward that avoids defense cuts, jon. jon: all right. its going to be interesting to see what happens over the next year until those cuts are supposed to take effect. a lot of fighting in washington....

Committee that could have bypassed much of the procedural process to really get something done. and now theyre going to wait out the clock. and i think its inexcusable to wait out the clock till after the next election and things get worse. this is about the economy. its about creating jobs. small businesses do the best job at that. and theres great opportunity to put in sensible regulation, bring certainty so that small businesses can do just that. >> lets talk about that uncertainty. businesse...

john king, chief national correspondent and host of "jk usa" and sheila behr, former children of -- chairman of the fdic. before we talk about this i want to bring in christine romans to explain why this has been such an important deal in the united states. while ive been out here in cannes, the u.s. has been watching very closely whats going on here and whats been going on in athens, christine. >> theres a growing understanding that u.s. and europe are in it together. anything that is...

Are so bad allowing for the normal percent of corruption you are talking eye popping numbers. >>guest: you are. look at the budget process, the debt ceiling debate, conditioning does everything at the very last minute. they leave in time for any sort of oversight so you have one member of congress, senator coburn with puts out the reports annually about another program that is wasting money, and what happens? the congress does not investigate it or hold hearings, and that is what we need. that i...

split, 6-6 along party lines. theyll have until thanksgiving to come up with a package of cuts and/or taxes to get the $1.5 trillion. now, congress would then vote up or down on the entire chunk. they have to vote. but remember, the supercommittee was set up to do what congress and the white house failed to do. keeping them honest tonight, its not like this is the first time politicians have decided to set up a committee to do what they themselves have failed to do. in targets we have ...

leaders each get to name three members. meaning the panel will be evenly split, 6-6 along party lines. theyll have until thanksgiving to come up with a package of cuts and/or taxes to get the $1.5 trillion. now, congress would then vote up or down on the entire chunk. they have to vote. but remember, the supercommittee was set up to do what congress and the white house failed to do. keeping them honest tonight, its not like this is the first time politicians have decided to set up a co...

>> we were on a second short break and heading to the fieldhouse. he collapsed outside the fieldhouse. >> the heat proving to be fatal in georgia. two high school football players collapsed while out practicings under the sun and the heat. they both later died. if you have kids who say, mom, dad, the coach says i have to practice, i have to be out there, maybe in full pads, i want you to listen to the father of one of those high school players who just passed away. >> when your body te...

>> reporter: i think its a step in the right direction in terms of reaching a compromise. the big question remains while we have heard that harry reid signed off on the deal, where do republicans -- the key republican negotiators in this whole deal, where do they stand on the issue? in the house as well as in the senate. well, were still obviously looking to get guidance on that. we have heard from one top senate republican leadership aide who said at least -- at least right now theyre...

veterans group there at pennsylvania avenue being briefed on what could happen to their ranks if the debt ceiling is not raised. also cnn is learning some states making contingency plans. california specifically taking out a temporary $5 billion loan just to help pay its bills in case congress fails to act and turmoil in the credit market makes it difficult to borrow money after august 2nd. take a walk with me. i want to look at what exactly is proposed here. we have two different plan...

To set new levels while republicans are in control of the house. it gives republicans more power to choke off funding and implimitation of the law that is supposed to start next year. >> there are ways that democrats could enact funding through other measures, create. - correct. >> they will not have the funding called for in the law. but they can move funding around and take it from programs where they may not see a priority . move it to try to implement the provisions . so it doesnt outright b...