national debt. that s the word from the white house today which reports that the president will share the major details in what they call a major speech early next month. the plan they tell us, is expected to include a mix of tax cuts and new infrastructure spending to promote hiring. plus, a deficit reduction package beyond the $1.5 trillion the congressional super committee is working on. we told these will be fresh proposals. a spokesman for the speaker boehner said the president should skip the speech and just give the details to congress. and now, the editor of wall street journal and will give us the word on this thing. what specifically are we talking about? jonathan: what we think we are talking about is the secret plan that president obama was working with speaker boehner on,
every time you hear the words grand bargain we should attach them to a search for moderate voters. a lot of this is about 2012. very many people this is the grand bargain is the best way that the country can move can get forward and get best yond this whole debate and it could in so many ways punch a lot of holes, but what they re also thinking is independent voters, these are the people that president obama desperately needs if he s going to win reelection in 2012 really want a deficit reduction package. that s what this is all about. the risk in putting this plan out there, is if you fate. now, the president seemed to hint they would what is the risk of not getting something done that you roll out in september and say this is the plan, and i m going to do it,
[ laughter ] [ cheering and applause ] or if you prefer, i will mow your lawn. in case he wins, i am limited to one acres. in the most interesting substantive question and relevance, all of the candidates were asked, if they would accept a deficit reduction package that would include an increase in taxation, but in a ratio of 10-1. that is to say, ten spending cuts to one portion of tax increases. they all said they would veto such a bill. just making sure everyone at home and everyone here knows that they all raised their hands and say that they feel so strongly about not raising taxes that a 10 to 1 deal they would walk away from.
it is quite likely that if the republicans continue to insist that you can t have any increase in revenues that as part of the deficit reduction package, the joint committee will stalemate. i think that the real key there is not so much the members appointed, but the people on both sides who have been appointed there, and a number there that if a decision is made by the leadership, and in particularly the republican leadership to give up the stance they have been taking of absolutely no discussion of revenues, give that up and have a serious debate about balanced package of revenue increases and spending cuts, there are people on the committee who could actually try to make that kind of oingagreement happen, but th are no signs yet of speaker boehner or minority leader mcconnell have decided it is time to change their position and agree to support an effort to reach a balanced approach. yjim, what happens if the group cannot come up with a serious agreement to deal with the debt an
program which provides the majority of the aide to somalia and kenya, they say they only have three weeks left or less. three weeks of food supplies, much more on that tonight. we re going to talk to a lot of folks about the situation on the ground here in somalia. reporters who have been covering it for us for weeks. we begin with breaking news out of washington. harry reid becoming the first member named to the super committee, they are patty murray of washington state, max baucus montana and john kerry massachusetts. this comes at the end of the day that saw wall street climbing out of the smoking hole. part of the reason squabbling over the debt. the question tonight, will this super committee end the squabbling or will they create a whole new problem. john king is sticking around for us tonight. also with us, jon gergen. john what are you hearing about the names given to the super committee. we won t know the full composition, therefore the chemistry of this committee