Page 11 - Spending Increases News Today

Medicare spending 2%. total savings, $68 billion then more savings in years to reach that $1.2 trillion. giving the huge spending increases, one can argue those automatic cuts are not at all excessive. so if the choice is between tax increase or these automatic cuts which i just identified, hey, why not the cuts? >> well, from made perspective i agree with that perspective. i believe that even if the super committees efforts result in lack of an agreement, i have to commend them for the hard wor...

Table and weve got to control them if we want to control debt. >> reporter: so its up to the supercommittee designed to find more than $1 trillion in savings over the next decade, debating changes to tax it is and entitlement programs like medicare. democrats have mostly defended against substantial changes to those spending programs, asking republicans for tax increases in exchange, and republicans maintain a pledge to refuse any tax increases, saying the problem is unsustainable spending incre...

do. nobody can get the support to get one of those through. do we have to look for just the possible? >> i think mission number one is to raise the debt ceiling. they cannot get away without doing that. saying theyre going to downgrade you. but they left a bit of an out. if you raise the ceiling but give indication youre on the road to getting a deal, well keep you on credit watch negative but take you off and affirm your aaa rating if you get it done within a couple of months if we se...

jeanne, first question, is it time to simply say, lets go for the possible in washington? everybody has grand ideas about what they want to do. nobody, nobody can get the support to get one of those through. do we have to look for just the possible? >> i think the mission of everyone in congress is to absolutely raise the debt ceiling. they cannot get away without doing that. the s&p has been the strongest credit rating agency. they said, were going to downgrade you if you dont come up...

So why you -- of minnesota, is slamming you as well. so why you? >> when i left office the unemployment rate was less than 7%, one of the lowest in the country. job growth rate from the crash until i left office was one of the fastest job growth rates in the country. our personal income growth rate was one of the highest in the country many thats not accurate as to those measures. former governor carlson was a republican, but he became an obama supporter and kerry supporter. hes not a neutral ob...

Then. and creditors will be watching every step of the way. creditors like china, that holds more than $1 trillion worth of u.s. treasuries. and japan. over the years, the u.s. has been forced to raise the debt ceiling 74 times since 1962, to pay for tax cuts, foreign wars and other spending increases. in fiscal year 2000, the debt has tripped since. not defaulting on debt would trigger a spike in borrowing rates and the confidence in the u.s. government to honor obligations. a high-stakes game ...

expected to ask for three arrest warrants in libya. they are said to be for those against crimes against humanity. a source says leader moammar gadhafi will be among those named. those living around the mississippi river, will leave for higher ground, as homes and farmland as residents have been ordered to evacuate. and two additional floodgates have been opened on the morganza spillway. the space shuttle "endeavour" has been cleared for launch today. and weather reports indicate a...

Tired of the deals that are made that dont really mean anything. >> when you take a battleship and you stop it and reverse it. when you go from what kind of spending increases and tax increases are we going to have to spending decreases, people have to understand that is the direction the battleship should go in. and speaker boehner helped engineer this reversal of movement and i think we have to understand that -- i hate to sound simplistic, its a number right now. its the first step in the fir...

Challenges before they get out of control. we have to come up with a budget that solves our fiscal problems. if you look at that debt chart, the problem is not that we have too many taxes, it pending. we are going to go after the programs that gives us all those spending increases. >> sean: democrats never passed a budget last year they had control of both houses and democrat in the white house. when we are talking about the debt ceiling for this current fiscal year to run the government through...

Challenges before they get out of control. we have to come up with a budget that solves our fiscal problems. if you look at that debt chart, the problem is not that we have too many taxes, it pending. we are going to go after the programs that gives us all those spending increases. >> sean: democrats never passed a budget last year they had control of both houses and democrat in the white house. when we are talking about the debt ceiling for this current fiscal year to run the government through...