Spending Drop News Today

If we were to let our spending drop like we did after the end of the cold war, our spend iing would look like this. now you know the sequester that youve been hearing about with the dra cone yan defense cuts, this is what our spending on the military would be like with the sequester. thats the purple line there. president obamas plan, what the pentagon and president obama have agreed should happen and what their plan is if president obama gets a second term is this line. military spending to hav...

of congress packed up and went on vacation. so now 4,000 faa workers are not being paid. tens of thousands of others involved in airport construction and maintenance are also off t job. and some $25 million are being lost every day in taxes because there is no one there to collect. that is more revenue lost in one hour than you will probably pay in your lifetime because congress members cannot reach an agreement agreement. weill tear into this developing dispute in just a moment, but h...

>> that is coming up way down the road. down the road in the future, january of next year when all the bush tax cuts will be revoked. so you have a big tax increase. and big spending cuts imposed by congress are supposed to go into effect. you take money out of the economy with a tax increase. you take money out of the economy with a spending drop and youve got this cliff that ben bernanke was talking about. that is down the road. there is maybe a turning point for the economy in the immediate f...