Page 63 - Spending Problem News Today

Reduction is a very important point. but we have to understand that today at 15.7% our revenue as part of gdp is the lowest that it has been in 60 years. so when senator mcconnell says revenue is not the issue, he is dead wrong. revenue is very much the issue. the american people have been very clear. they do not want to cut social security. >> right. >> medicare and medicaid. they do want to ask the wealthy and large corporations to pay more in taxes. that is what i believe -- >> there is an is...

Deal was. >> bob: this is not a grand deal but obama did win. he got what he wanted to get done. in the end, he had less trouble with the caucus than i thought he would. real trouble two months from now when they have a spending problem. only thing they can deal with is entitlements. that is laid town clearly in the caucus. not willing to go along with any alteration in social security. that is a problem. how much infighting there is now among the republicans. >> eric: not much on the table here...

Deal was. >> bob: this is not a grand deal but obama did win. he got what he wanted to get done. in the end, he had less trouble with the caucus than i thought he would. real trouble two months from now when they have a spending problem. only thing they can deal with is entitlements. that is laid town clearly in the caucus. not willing to go along with any alteration in social security. that is a problem. how much infighting there is now among the republicans. >> eric: not much on the table here...

Breaking news this hour, 11:46 eastern time, about 45 minutes ago a deal was passed in the house and will be sent to the president. we are getting reaction. we got this from speaker boehners office. he voted for in this concurrence, this bill that went to the house floor. he brought it to the floor for the up or down vote. he says that the federal government has a spending problem that has led to a $16 trillion national debt that threatens the country to the future. on the day after the election...

Debt ceiling limit and the cr. but what we need to have is we need to learn from history, and we need to learn from others. bill clinton did a meaningful citizen education engagement campaign in 98. i was part of it. in order to try to help make social security reform happen. we need to learn from that. we need to learn from the work that weve done, the comeback america initiative over the last several months and engage in a meaningful citizen education effort to get a grand bargain because the ...

>> it now goes to the house where a lot of republicans are going wait a minute, we just got reelected a couple of weeks ago and we said wed never raise taxes. you cant expect us to do that. whats it going to do? >> i think they should run from this as fast as they possibly can. this is such a bad deal for the republicans. one of the best things about their brand is they have been principled against tax increases. they realize we have a spending problem, not a revenue problem. to then turn around...

Programs like medicare. >> mr. president, im willing to play along with my other republican colleagues the role of tipp oneal. you just need to play the role of ronald reagan. >> white house officials note the president did offer dramatic cuts. it was speaker john boehner who walked away from a 4 trillion-dollar deal. indeed boehner may have a trouble selling a final deal to republicans after he revealed tax hikes had to be cull peld with spending cuts. >> washington has a spending problem that ...

Thank you for joining us and happy new years day, i guess. >> happy new year. thank you. >> we are talking about the winners and the losers in all of this. on that list from the washington post, a lot of politicians. you know what really matters in this is the american people. i want to know from both of you who wins in this? it is still not even over. brad, i will start with you. >> heather, the american people are the big losers. they are not winning in this deal. we dont have a revenue proble...

Prominent new york city doctor. hes an occupy wall street organizer. together they make a wonderful -- no, now theyre both under arrest for having explosives in their apartment. 27-year-old morgan is pregnant. she went into labor after she was arrestedders forcing her arraignment to be delayed. her boyfriend p 1-year-old aaron green is being held without bail. cops were tipped off by another couple who saw the suspicion items in that couples apartment. so kind of a strange story. well probably u...

Jon: we just had senate majority leader read making some remarks from the microphone, perhaps ill get to word from the control room in just a bit as to what he had to say. hes already peeled off the microphone, i guess hes done, mike, making his opening remarks. so what about the house side? is that where the ball lies right now? or just exactly what is the state of play here? >> reporter: they essentially said late last week, you know what let the senate go first, let the senate take action. th...