Page 19 - Spending Programs News Today

Zones anl come to the white house ready to make a deal on the debt ceiling. jim angle has an update. >> president obama told reporters he is calling voters to the white house for another round of talks seeking what balan a balanced approach. >> we need to look at spending fon defense programs entitlement programs and we need to take on spending in the tax code, spending on certain tax breaks and deductions for the wealthyest of americans. >> they need trillions in savings they didnt specify furt...

Medicare are in trouble. the fact that they have only dealt with frif ral matters foas nt moon that is where it will end up. this is a significant and credible deficit reduction effort. standard and a poors has to look at it and say these guys are going to take us in a different direction in order to get the votes to raise the debt ceiling. >> chris: you said what the democrats have to give in this and they have to agree which is politically substantial to them. tuts to domestic spending program...

It will have to be a significant and credible deficit reduction effort and will have to standard -- standard & poors has to look at that and say, wow these guys are going to take us in a different direction and in order to get the votes to raise it. >> chris: you basically said what the democrats have to give in this and they have to agree, which is politically tough for them. to substantial cuts in domestic spending programs, including entitlements which they have resisted over the years, and w...

Medicare are in trouble. the fact that they have only dealt with frif ral matters foas nt moon that is where it will end up. this is a significant and credible deficit reduction effort. standard and a poors has to look at it and say these guys are going to take us in a different direction in order to get the votes to raise the debt ceiling. >> chris: you said what the democrats have to give in this and they have to agree which is politically substantial to them. tuts to domestic spending program...

Man on the left, sam misleh, he represents some of the struggling small business owners who employ the bulk of americans, and they pull in just enough, $250,000, each year, to potentially get hit with the same tax as superwealthy americans. if the president has his way james rosen is live in washington with their story. hi james. >> reporter: good morning. when president obama announced his plan to tackle americas debt crisis he proposed a mix of cuts in spending programs and tax hike by allowin...

Bill: it was 2000-2001 when we ran a surplus, ten, 11 years ago, right? >> yes. and since 1969 we have seen the federal government run a surplus, only for four years. bill: okay. now, $14.3 trillion, today. i dont know how old you are but i know how old i am and im not quite sure in my lifetime ive seen it in positive territory. do you? >> im not expecting to see us get the deficit down quickly but we do have to stabilize it and have to start to see the debt, decline, relative to the size of our...

Program. but we didnt pay for any of this new spending. >> democrats may have lost their way, but conservative republicans never did. >> you know, we can lecture our children about extravagance until we run out of voice and breath or we can cure their extravagance by simply reducing their allowance. >> if youre a conservative republican you can reduce the governments allowance by cutting taxes, and then sit by and try to watch the democrats preserve their spending programs when they dont have th...

Expensive prescription drug program. but we didnt pay for any of this new çspending. >> democrats may have lost their way, but conservative republicans never did. >> you know, we can lecture our children about ex-trav against until we run out of voice and breath or we can cure their extravagance by simply reducing their allowance. >> if youre a conservative republican you can reduce the governments allowance by cutting taxes, and then sit by and try to watch the democrats preserve their spendi...

>> well, democrats may have lost their way, but conservative republicans never did. >> you know, we can lecture our children about extravagance until we run out of voice and breath, or we can cure their extravagance by simply reducing their allowance. >> reducing their allowance. if youre a conservative republican you can reduce the governments allowance by cutting taxes, and then sit by and try to watch the democrats preserve their spending programs when they dont have the money to do it. the d...

>> the problem with a bunch of tax increases, the president just raised taxes $800 billion, calling for a new $1.5 trillion in tax increases, you slow down economic growth. >> howard dean is the former governor of vermont and the former chairman of the democratic national committee. it seems here, howard, that on both sides of the aisle there is real concern about rising deficits, our national debt, and what to do, and real disagreement on how to go about tackling the fiscal crisis ahead of us. ...