Page 33 - Jim Angle News Today

Somewhere along the lines we went off the rails a little bit, but we have a couple more weeks to talk about this. well have you both back on and enjoy the holiday weekend and thanks so much for your time. >> thanks, angela. >> heather: you started off with thanksgiving dinner and relatives you dont want to see not that there are family members you dont want to see. >> rick: not in my family. >> heather: not ever. well, in other news, charitable donations are usually tax deductible, but with the ...

And theyre already behind schedule. big surprise. chief national correspondent jim angle is live with that from washington. jim? [laughter] >> reporter: you got that right, jon. obamacare was passed two-and-a-half years ago, and it starts to unfold this january with new taxes to help cover the costs, then new insurance exchanges which are supposed to be ready in october 2013. analysts, however, say the federal government is way behind in part because the bill was thrown together. >> it was put t...

Thats going on. its a doable task. >> reporter: the new insurance exchanges, however, will also require a massive new software system so insurers and state and federal governments can all be on the same page. >> another glitch is that the exchanges have to have electronic software, and the federal government has to approve that software, and it still hasnt done so. so we dont even have the software ready to do whats supposed to be done in the exchange. >> reporter: so many, many more things to d...

System. listen to this. >> another glitch is that the exchanges have to have electronic software, and the federal government has to approve that software, and it still hasnt done so. so we dont even have the software ready to do whats supposed to be done in the exchange. >> reporter: so many more thicks to do -- things to do before next october, and analysts said the administration had plenty of time but postponed some of the more difficult things until after the election. jon? jon: wasnt it ron...

Hours on the holiday, walmart one of them. they plan to open their doors at 8 p.m. there are shoppers on both sides of this. >> i think thats wrong that they have to work on thanksgiving. um, you know, people were going to be home with their families anyways. >> they shouldnt be striking and complaining about your job. you should be lucky you have a job. >> walmart says the vast majority of its employees are happy with their job and that even if that small group of workers do end up striking, it...

>> even with an agreement they face another deadline when it hits the debt limit again. at that point, the nation cant spend another nickel without cutting spending. another crisis over the horizon. >> shannon: tough to believe were up against the ceiling again so soon. jim, thank you. >> stocks went surging. dow jumped 208. s&p 500 gained 27. nasdaq finished ahead 63. there is no word tonight from the campaign of florida republican congressman allen west. whether it has contest of the election....

Jim angle has the details. >> the fiscal cliff was crafted to be so distasteful, officials would do any and everything to avoid it which obviously did not work. >> we go over it, we could be in a recession next year. it would decrease the size of the economy. >> the fiscal cliff is $440 billion of taxes and $200 billion of spending cuts. so going overt full fiscal cliff is a recipe for recession. there is no question about it. >> not the way mr. obama wants to begin his second term. the fiscal c...

Fully considering the impact of the policies that will be set in motion. you know the independent accounting firm ernst & young ace going over part of the fiscal cliff and raising taxes on the top two rates would cost the economy more than 700,000 jobs. >> rorter: so republicans are hoping for new revenues but not from increased tax rates. remember, jenna, back in 2010, when the economy was growing at 2.3%, president obama extended all the bush tax cuts saying the economy was too weak to digest ...

Correspondent jim angle reports the proposal is getting a fresh look. >> simpson-bowles commission ended the work almost two years ago but is now the center of attention again, even running a new ad. part of a campaign funded by $36 million in corporate contributions. >> private sector recognizes that we cant continue to live beyond our means. were borrowing about a third of everything we spend at the federal level. >> private sector is petrified that inaction on the debt could lead to a catastr...

And lowering tax rates at the same time. that was a bipartisan reform, just as the proposal from the presidents own debt commission, the bowls simpson commission was. now that recommended exactly the same kinds of options. president obama walked away from them of course but now the clock is ticking and republicans are offering a proven, bipartisan way to give the president what he wants, increased revenues, jenna. jenna: so you have both leadership from the hoist and senate, some sound from ther...