Page 8 - Deficit Cutting News Today

>> we are going to have a titanic debate in washington overt next few weeks about what to do about the economy. the public policy has to be focused on three things, keeping the current fragile recovery going, making the long term investments that create growth and dealing with the deficit. i think well have to be cognizant that with rising energy and food prices, with the continued weakness in the housing markets, the irresponsible threats that we are hearing from some about potentially shutting...

But they are really the key here. >> zain verjee, reporting live from london, thanks as always. president obama takes this deficit cutting message to facebook. it will be the first time for a sitting president to the social met works home base. its being built at the town hall, but is it really? well have details about the event next. then...over time... become dull... and lose their luster. new tide plus bleach helps bring your whites back to bright in one wash. turning white-ish to...wow. ti...

Have this fight. will all become part of the issue right as we head to 2012 election campaign, when the bush tax cuts are expected to expire again. the president will say, look, we have to do something about our deficit and cant get serious about deficit cutting if you dont do something on the revenue side. the plan the president laid out last week, three-quarter spending cuts, one quarter on tax revenue side and letting tax cuts expire for wealthiest is part of that as is tax reform, both sides...

Whats the strategy behind this back to back town halls on the deficit cutting plan? >> i think he is trying to keep defining, you know, the big issues of this debate. theres no question that the xaeb started last week, i dont know if it was on thursday in chicago or wednesday when he was giving his speech at george washington university. he has framed this debate exactly how they want to frame it and he is bringing liberals and democrats on to his side saying that he will protect these sacred en...

Going again and now people are predicting a slowdown later this year, to the extent the republicans have succeeded in taking his eye off that ball, theyre doing their political job. but this deficit cutting stuff, its a long-term problem. its not something that should be -- that we should be all consumed with right now. >> you make that point, joe. i think that jobs by far is the number one priority of all americans. but perhaps part of its our problem and the politicians problem for not educati...

Spending cuts, but now the non-partisan congressional budget office has taken a look at it, and discovered that its actually for this year just $352 million, with an m, dollars in deficit cutting, spending cuts, for the rest of this year. isnt this one of those issues where washington has a credibility problem with the american people? it affects everyones house. how do these spending cuts end up being $352 million this year? can you explain? >> good morning, savannah. good to be with you. you h...

Modification of the costs of medicare and a tax increase for the wealthy to offset that. so in other words were being nice tore people than the nicer to people than the republicans. is that a strategy? is that the strategy? >> the thing is, maybe the white house planned it all this way. >> you think they might be bsing this? >> well, i think -- >> when did they fill you in on this before or after this weekend. >> way before. >> richard writes the definitive books, so im sure he knows. whatever t...

Then theyd have to put something on the table in terms of entitlements and taxes to those conservatives watching right now, not just entitlements but taxes too at this point. thats not to say the debate will end on wednesday. its the first shot of a very long debate. >> is it smart to let them say were going to get rid of medicare and then say no, as opposed to getting rid of health care for people over 65 in this country, were going to offer some combination of modification of the costs of medi...

>> richard writes the definitive books, so im sure he knows. whatever the preplanning was, the good thing for the president in this situation, even though he doesnt -- hasnt been controlling the debate because its been about deficit cutting. which is not the democrats thing. >> domestic cutting. >> yeah. the good thing for the president is the paul ryan medicare plan. because it makes people angry. first of all, it scares seniorsç >> it should! >> yes, and it should. but at the same time it exe...

So before the break we asked, who cheats more on their taxes? men or women? take a look. according to cnnmoney.com, men, you win. the breakdown, 64% of men cheat compared to 36% of women. in two minutes were going to have some important tax tips regarding he ining health care changes. first, deficit talks. expect to hear a lot of this in the upcoming weeks. the president is expected to lay out his long-term deficit cutting plan possibly on wednesday. sandra endo, what is the president expected...