Spending Cut Package News Today

Our bills and work on a longer term deal so we can replace the sequester, make sure were adequately funding our budget. >> there is a timing issue here. one of the reasons why the democratic -- bipartisan, i should call it, bipartisan proposal that came out of the senate at the insistence of the democrats on the white house the continuing resolution spending bill january 15th, thats when the next group of cuts from the sequester would kick in. >> yes. >> this is to end the spending bill so that ...

Special power to a special committee to reform the tax system. if they dont, were going to put in place another $1.2 trillion of spending cuts. >> well, it sounds good -- >> let me finish this point. >> no, weve posted another $1 trillion deficit, theres no plan to balance the budget until 2040, 2045. youve got to agree with me, i mean, were in a mess fiscally, an absolute mess. a train wreck is coming. >> look, both of these are true. last year, we passed the biggest spending cut package ever p...

The spending cut package. getting the debt ceiling hiked up avoiding a bankruptcy, there will be this down the road fairly soon legislation to do the $4 trillion package? is that the idea? decoupleds, but not in principle. that would be extraordinarily reasonable, but i work in a place thats not always reasonable. we dont want to do anything with our gang of six plan that messes that up. weve got to keep our momentum going forward. in a reasonable world, what you suggested would word, but im not...

hammered with angry questions. egyptians take security into their own hands. even some children are armed with illegal guns. the revolution giving way to a wild west mentality. im wolf blitzer. youre in "the situation room." the united states is another day closer to a possible default on its debts. 19 days before the deadline theres no sign that political leaders are any closer to preventen an unprecedented and frightening train wreck. right now members of congress are in the fift...

Of house democrats. i think they were generally optimistic. they see if we do a trillion dollars in cuts and wout a plan we will be back where we are today, six to eight months from now with a new starting points and em deeper cuts in entitlement programs, domestic discretionary programs. we have to make sure anything counts toward a larger deal. they say, hey, this makes some sense. the house republicans i think they have asked for things that are comprehensive. this is comprehensive, but i can...

Trillion. you have revenues. you have an agreeable to a group of a bipartisan group. you go to the house democrats, they say, okay, well great to the following, there will be a separation of the debt ceiling issue, a decoupling of that from the spending cut package. getting the debt ceiling hiked up avoiding a bankruptcy, there will be this down the road fairly soon legislation to do the $4 trillion package? is that the idea? decoupleds, but not in principle. that would be extraordinarily reason...

Trillion. you have revenues. you have an agreeable to a group of a bipartisan group. you go to the house democrats, they say, okay, well great to the following, there will be a separation of the debt ceiling issue, a decoupling of that from the spending cut package. getting the debt ceiling hiked up avoiding a bankruptcy, there will be this down the road fairly soon legislation to do the $4 trillion package? is that the idea? decoupleds, but not in principle. that would be extraordinarily reason...

Most extending cuts. you go to the house democrats, they say, okay, well great to the following, there will be a separation of the debt ceiling issue, a decoupling of that from the spending cut package. so an agreement in principles, avoiding a bankruptcy, there will be this down the road fairly soon legislation to do the $4 trillion package? is that the idea? decoupleds, but not in principle. that would be extraordinarily reasonable, but i work in a place thats not always reasonable. weve got t...

White house is saying publicly, that default would be a disaster. >> notwithstanding the voices of a few who are willing to play with armageddon, responsible leaders in washington are not. the president referred to it as an armageddon. >> there will be a fringe that believes that playing with armageddon is a good idea, but i dont think thats where majority will be. >> and we know republican leaders are saying theres not going to be default. the question now, how big does the spending cut package...

But included in it, to get any revenue increases ever, you would need a super majority. that might not fly. meanwhile, leaders are on the same page in other aspects of this, saying privately what the white house is saying publicly, that default would be a disaster. >> notwithstanding the voices of a few who are willing to play with armageddon, responsible leaders in washington are not. the president referred to it as an armageddon. >> there will be a fringe that believes that playing with armage...