Deep Automatic News Today

Nondefense and 13 percent cut to defense programs this year. but president obama said yesterday. if congress can compromise on spending cuts and tax reform, then the threat of the sequester will be delayed. >> we are just weeks away from deep automatic cuts to federal spending including defense. there is no reason. no reason for that to happen. putting our fiscal house in order calls for a balanced approach . not massive indiscriminate cuts that impact military preparedness. >> sequestration wou...

Direct specific threats of violence. youve been hearing about it. economic crisis just a few weeks away potentially if lawmakers dont do something about it. president obama meeting with congressional leaders from both political parties to try to get them back from the brink. if they cant reach a deal by new years day, tax also go up, deep automatic spending cuts take effect. economists warning the combination of that could propel news another recession and higher unemployment. before todays me...

Forbear. going after mitt romney and the mysterious tax returns. well have that clip a little later in the show. first, lets get to the news live at 5:30 a.m. heres 30 rock in new york city. former vice president dick cheney returns to washington today to meet with top house republicans about how to deal with the two-part challenge facing the economy at the end of year. the expiring bush tax cuts and those deep automatic spending cuts. democrats took a hard line yesterday suggesting they are pre...

>> its not about assigning blame. but we are unaware of any democratic offer that didnt include at least $1 trillion tax increase on the american economy. >> reporter: democrats are drawing the line on medicare and medicaid. >> what we will not put on the table is the end to the guarantee to those entitlements. >> reporter: without an agreement, deep automatic cuts kick in, slashing domestic and defense spending alike. but not until 2013. a crisis for the next congress. brian mooar, nbc news, wa...

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