Page 50 - Sequester Cuts News Today

That program. there are other programs like that we can do away with some of the job training programs. there is duplication there. >> and defense? >> and defense. i spent a lot of times in the wings of the pentagon. if you dont think theres more money to be cut in contracting at the pentagon, you dont 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. ...

Entitlements beyond $400 billion specified in spending cuts, and hes not doing that. and on the other side, if youre boehner and republicans to your point about representing their districts, theyve got to at least be fighting a good fight against tax increases before theyre willing to compromise. i think the worst part to watch is what were watching, which is the annual negotiatictual negot. >> right. lets bring mark halperin back into the conversation. is there hope from what weve seen so far t...

With a lot of other something, either cuts or revenue to make up the difference. >> right. its not enough. what were looking at now is just trying to get, $4 trillion deal but just to a $1.2 trillion deal. the president wants 1.6. we have to see compromise of around a trillion. that is really going to, that is not going to be found by, by expiring the bush tax cuts for top earners. you have to find more money. thats why both sides have to give. democrats who havent proposed any spending cuts to ...

Struggle thats going on right now. the president is trying to communicate to the republican party that hes open to finding enough revenue to not have to raise rates if they can do it. he says its impossible, show me the path. theyre willing to go after taxes in other ways in capping their deductions that they enjoy, perhaps touching eligibility age for certain earners for medicare, whatever, going after the people that obama says need to pay without actually raising the rates. thats, again, an i...

Thats the floor from last year. i think the actual number will be 1.2 which will be the middle ground between 800 and $1.6 trillion. you dont get to $1.2 trillion without either raising tax rates or changing how we tax investment, which is the reason that a lot of rich people end up paying a very low tax rate. people like mitt romney can pay an effective tax rate of 10% to 15% because so much of their income comes from long-term investment holdings. something has to give. you have to change thos...

Millionaires is going to get threw. but it doesnt sound like it. >> sequester cuts, across the board cuts, including defense cuts that many lawmakers have a real problem with both sides of the aisle. >> in contradiction to one of my colleagues. i think republicans have to hold the line on something and that is on rates. liberals are congenitally unable to understand this the difference between raising rates and raising revenues. if they give up on rates it will be rolled a rate here for a millio...

Add up. so its going to depend on what kind of numbers you are looking at. if enough deductions are eliminated and capped. and you find enough revenue perhaps you can avoid. >> bret: you can do it? >> a rate cut. people are speaking very generally as you notice now. >> bret: amazing how governor romney did that it didnt go over too well. >> people are being very generic about this because they still -- what they want to do right now is speak past each other and say we are willing to cooperate an...

Maintaining the current rates for people below the top brackets and let those top brackets stay up. it will therefore be described as a tax cut for everybody on the lower brackets and work out something else on the spending side because neither one of the parties actually wants to see these giant cuts in defense and a lot of the other cuts that happen across the board. >> remember, the sequester was supposed to be the hammer on congress, if memory serves, in case the super committee didnt do wha...

That congress is going to have to allocate more this winter. plus, if washington doesnt strike a deal to avoid the sequester cuts january 1st, that fiscal cliff thing, fema will take a $900 million hit. so what does all this mean? nbcs mike viqueira is back at the white house. any word from the white house on this? >> reporter: well, i mean, the short answer to your question, steve, is we dont know. and this may not surprise anybody, but it depends on who the occupant of this building is going t...

Shots. 23 dies and 300 sickened. back to greta. >> i will not cut our military budget by a trit yil dollars a combination of cuts as well as sequester cuts. that is making our future less sek tour. >> there is not something i proposed. >> into the dinl debate, the president and governor in a dead heat so did this chaempk it? sam youngman from routers and doing the impossible tell me what you think viewers thought at home watching this tonight. >> you know were looking at the polls afterwards to ...