Page 3 - Sequester Cut News Today

>> well, some of the sounds today, you saw louisiana senator mary landrieu on the senate floor, saying that the federal government is trimming back. take a look at what the debt added in the last year, and the nation, roughly $38,000 a second. we told you that is added to the national debt in last year. $38,000 a second. michael ramirez has a cartoon, a cartoonist that looks back and take a good long look at this. if you like pie charts this is an actual pie chart of the 2007 federal budget agai...

But the president will talk in about 90 minutes from now. what does he say? what does he do? if anything at this late hour? >> well the president wants to make the case that we need to avoid the sequester cuts at all costs. this is the first, of what i expect to be a series of these kind of presentations where the president comes out and points to areas in which the average american citizen will feel the impact of sequester cuts. today he is focusing on first-responders. but we have to understan...

One program is food stamps. well-intentioned, it has grown dramatically up 3% since president obama took office. it is exempt from the sequester cut that are part of the fiscal cliff. tonight, correspondent shannon bream on the expensive history of a costly benefit. >> the the precursor to todays food stamp program, substantial nutrition assistance program or snap is rooted in the late 1930s and early 40s when the federal officials look to solve two problems at once to make sure urban families i...

Across the board way or just ignoring it which is what we think the white house is doing. theyre not preparing for the sequester, it will happen, and we think we should be honest and show how we will prioritize spending cuts instead of letting this sequester cut across the board. thats what were doing right now. martha: so the president was speaking about this in ohio yesterday and, of course, all of this gets intertwined with election year politics as well. so lets listen, he says, you know, ba...

Help create demand. he is a keynesian. he has probably said to himself, i dont believe in cutting debt. in the current situation of recovery. i dont think republicans want to do it either. so why am i pretending anymore that i believe in debt reduction and i believe that they might go along with it. so ending the pretense, along with what joy said and i said before, it looks like he is now saying okay, you know what? im a progressive. and i basically think we could use a little more stimulus. we...

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Points that have to be overcome? do you think youll have it by thursday and what are the sticking points you have now? >> im a hopeful person and i hope we can do it. i hope sensible people prevail, because at this point it isnt just a shutdown and all the damage its caused, but if we default on our debt it will have a dramatic negative impact on the savings account of average americans. whether or not we will sit down in a budget conference finally and start hammering it out, whether there will...

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Points that have to be overcome? do you think youll have it by thursday and what are the sticking points you have now? >> im a hopeful person and i hope we can do it. i hope sensible people prevail, because at this point it isnt just a shutdown and all the damage its caused, but if we default on our debt it will have a dramatic negative impact on the savings account of average americans. whether or not we will sit down in a budget conference finally and start hammering it out, whether there will...

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