Page 49 - Sequester Cuts News Today

Republicans to move forward on the deal. republican sources essentially vice president biden s up here to push it across the finish line. there are are some reluctant democrats who think that extending the bush tax cut should have a lower rate. they were hoping it would be only extended for are individuals making $200,000, couples making $250,000. all indications are are the number is going to be extended for those making up to $400,000 and $450,000. a compromise if you will and so bottom line t...

Close to 30 years. i dont think youd call them close friends, but they do seem to be able to get things done. what does this mean for all the things that are left out there hanging going forward? >> thats an interesting point. you know, a year and a half ago on the debt ceiling debate, vice president biden was right involved in that and really helping lead the white house effort. he was less active this time. we didnt see him much. and you know, as the president sort of initially started bringin...

The house had a good plan to replace those sequester cuts with other, better cuts. so the sequesters going to be a big problem over here for those of us who are interested in reducing spending. heather: so i want to talk about whether this will, in fact, come up in the house today when they convene, i think it is noon unless thats changed. the house has informally operated under the hastert rule. basically, house gopers similarly will -- simply will not bring up a bill that does not have the maj...

To get to the house and be approved. am i just been cynical? >> yes, i think you are. >> i hope youre right. >> listen to this, the house, actually, "the washington post" reported that the agreement emerged after the white house gave in to gop wishes on how to handle estate taxes. democrats wanted that to be taxed at 45%, but right now its 40% beginning at $5 million. so dig in, everybody. >> well be talking about this for weeks. >> yes, we will. and months, because of the sequester cuts. theres...

To be enough members to have a bipartisan roll call, a rare thing in the house, if, if -- >> and does the house want to be seen as the ones who scuttled middle class tax cuts? >> some in the house do, yes. there are a lot of house republicans who are morally opposed to tax increases, and i think some of them will not agree to any kind of compromise like this, as it essentially is a tax increase, and some democrats didnt like how the deal was constructed, either, but i dont think the overall hous...

Majority to take this on. should we take heart from this kind of statement coming from the speakers office? >> i would say no because the only thing the house managed to pass last week was a bill that restored the sequester cuts to defense and which did some incredible damage to social programs by getting rid of the social services bloc grant meaning meals on wheels eliminated and things like that. that was essentially a bill that dealt with spending. the house has proposed extending all of the ...

Spokesman said reid should talk less. the speaker insists the senate should ask first for members to reconvene on sunday. we can go off the cliff. pass the obama tax cut and reinstate the sequester cuts to things like he likes like the national institute of health and cut the defense budget. put republicans in the corner to say you want to bring a bill to the floor? be my guest. am i right? >> bob: my, you are cynical. keep in mind, they said, boehner said he wants to go to the senate. under the...

Result of the fiscal cliff deal. they dont want to see a lapse, for instance, in the payroll tax cut. although theyd be fine with it being replaced by something else. unemployment insurance passed, infrastructure spending, those are incentives for the white house to cut a deal on the fiscal cliff as opposed to just going over it and saying, okay, well just take the, you know, sequester cuts and bush tax rates. >> thats right, and they were willing to do that in 2010 and were criticized, of cours...

>> it would be tough to move the ball on other things. >> it would diminish capital that the president says. it would create ill will. more ill will than we see now. i think they believe there are things they could do quickly to mitigate the damage it would cause. if it would drive to us recession they could pull back on the rolling back the tax cut for the middle class. doing, undoing some of the sequester cuts. the white house thinks that. one reason going over the cliff isnt as unpalatable to...

Understand what has happened at the pentagon. >> should these sequester cuts on defense be upheld, senator? >> david, as much as i love claire, those are not the painful cuts that have to happen. we really have to look at much deeper reforms to the entitlements. and i would say that speaker boehners biggest problem is not his base. its having a willing partner on the other side thats really willing to look at these kinds of reforms. and i think thats going to happen. i think theres a possibility...