Page 2 - Sequest Tration News Today

>> shannon: all right. defense secretary leon panetta said this could result in something he termed as doomsday scenario. how worried are you about the cuts as they go in to effect? >> as he said, this is not like shooting ourselves in the foot. its like shooting ourselves in the head. i think if people understand that we have already cut, what will be in next years budget almost half a trillion dollars and then sequest tration of another half trillion means going forward id cut average of $100 ...

>> shannon: all right. defense secretary leon panetta said this could result in something he termed as doomsday scenario. how worried are you about the cuts as they go in to effect? >> as he said, this is not like shooting ourselves in the foot. its like shooting ourselves in the head. i think if people understand that we have already cut, what will be in next years budget almost half a trillion dollars and then sequest tration of another half trillion means going forward id cut average of $100 ...

The double punt. you have cant make it up. if you were doing satire of how it work you that is what you would write. take nothing from jeff a serious guy and understands the problems here but on the surface, not a proposal to solve a problem. >> bottom line, does something happen by the 23rd, a.b.? >> unlikely that somebody satisfying happens by the 23rd. they might do the next punt where they come up with a figure to say its assigned to committees. come up with the own numbers. we cant come up ...

The double punt. you have cant make it up. if you were doing satire of how it work you that is what you would write. take nothing from jeff a serious guy and understands the problems here but on the surface, not a proposal to solve a problem. >> bottom line, does something happen by the 23rd, a.b.? >> unlikely that somebody satisfying happens by the 23rd. they might do the next punt where they come up with a figure to say its assigned to committees. come up with the own numbers. we cant come up ...

Its not clear if the majority of the group will. hours after he said he didnt think the super committee would succeed, chuck schumer pushed republicans on the, i of revenue. >> if you dont do revenues you wont do the grand bargain to get deficit down. >> just as if you didnt do spending you wouldnt come to grand bargain to get the deficit down. >> they wont go along with raising taxes on americans. they might agree to eliminate deduction and subsidy to eliminate the bush tax rate to make them pe...

It is notionm aspiration. i think we would have support to prevent those cuts enacted because of the impact on the national security. >> hinting there may be a way around the defense cuts, chairman carl levin didnt want to give the supercommittee a way out. >> i dont want to take the pressure off to reach a deal and talk about avoiding or elimb naynating effect of sequest tration. >> senator lieberman told fox if it fails it would never go in effect. >> bret: we have more on this with the panel....

At it differently. we will spend ink and videotape trying to figure out where they are going and every day is a new story but it comes down to taxes. republicans are never ever going to vote for a tax increase. the only way you get a deal done is if they find another way to score revenue. democrats sign on. otherwise its sequestration. because republicans will not commit political suicide given political and economic theyre in. >> sec question tration is automatic -- sequest tration is the autom...

Program. that might be a way to sneak revenue in. i feel like were back where we started from this summer and that is a bill coming out that will not meet target. sequest tration on whatever is left over. >> it seems to me tha the republican position is mischaracterized in some reporting. not that republicans are against any change in revenue by they want to use it for tax reform, not to just increase taxes to meet $1.2 trillion target. >> i think the possibility that something big, including ma...

Democrat and republicans look at it differently. we will spend ink and videotape trying to figure out where they are going and every day is a new story but it comes down to taxes. republicans are never ever going to vote for a tax increase. the only way you get a deal done is if they find another way to score revenue. democrats sign on. otherwise its sequestration. because republicans will not commit political suicide given political and economic theyre in. >> sec question tration is automatic -...

Program. that might be a way to sneak revenue in. i feel like were back where we started from this summer and that is a bill coming out that will not meet target. sequest tration on whatever is left over. >> it seems to me tha the republican position is mischaracterized in some reporting. not that republicans are against any change in revenue by they want to use it for tax reform, not to just increase taxes to meet $1.2 trillion target. >> i think the possibility that something big, including ma...