Page 6 - Spending Reduction News Today

Way the spending reduction is achieved, but were not going to cut a penny less than we said we would. >> john: are you expecting that he will propose tomorrow some more revenue raisers? >> thats what hes been advocating out on the campaign trail. >> john: so your response to him will be, mr. president, with all due respect, no? >> the answer is no, hes already gotten all the taxes hes going to get. he got it two months ago. were asking this big bloated government thats going to spend 6.3 trillio...

Way the spending reduction is achieved, but were not going to cut a penny less than we said we would. >> john: are you expecting that he will propose tomorrow some more revenue raisers? >> thats what hes been advocating out on the campaign trail. >> john: so your response to him will be, mr. president, with all due respect, no? >> the answer is no, hes already gotten all the taxes hes going to get. he got it two months ago. were asking this big bloated government thats going to spend 6.3 trillio...

Place, and it will kill everybody. what happens now. mike emanual is on capitol hill. are there widespread renations across the fruited plains, mike? >> reporter: that would be a no, shep. it sounds very much like its back to the drawing board as weve been reporting. republicans do not want to give new tax re revenue as part of te acquired spending reduction. after the meeting, the democrats order this. >> the president challenged us to look at all the expenditures that government makes and whet...

No, i do not have an explanation. i dont think that there is a reasonable explanation. i dont understand it. dont have an answer for you. it is too simple to chalk this up to incompetent. it may be that, but i dont have an answer, i cant explain it to you. all i know is that it doesnt make any sense. >> and since we are once again in a political and governing territory where we have never been before, those of us who use political models of the past to predict what will happen in our political f...

Shoulders. >> can i get on the cookie analogy? >> that is why youre here, jump on every analogy that comes along. >> i am not a parent like krystal, but i think it is a bit like you have a kid who is not getting the grades, right? so you threaten them, you say if you dont get your grades up im going to home school you, that is supposed to be worse. the child probably wants to be home -- not home schooled. if the grades stay down, what happens? you undermine your parental authority, i believe. >>...

The difference is obama wants to avoid them. could the gop message on the sequester be anymore self-defeating. it made rush limbaugh uncharacteristically humble today. he had to admit there is something even he doesnt understand. >> boehner, echoing obama, in "the wall street journal," in answer to a question, the republicans support the sequester. theyre on record as supporting it, even though it is obamas idea. they support it. it is the only way were going to get budget cuts. the question is ...

>> that is why youre here, jump on every analogy that comes along. >> i am not a parent like krystal, but i think it is a bit like you have a kid who is not getting the grades, right? so you threaten them, you say if you dont get your grades up im going to home school you, that is supposed to be worse. the child probably wants to be home -- not home schooled. if the grades stay down, what happens? you undermine your parental authority, i believe. >> yeah, that is my understanding. >> and you are...

We have done a large piece of spending reduction. the budget control act of august 11, you remember that, that froze discretionary spending for ten years. that picked up a trillion dollars or so over the ten years. thats not small change. and in addition to that, the various continuing resolutions have cut discretionary spending. so, its not the problem. the problem is the entitlements and taxes. so, thats what they ought to be talking about. >> what do you think of simpson/bowles revisited this...

Last year and ultimately each will have to give. >> if in fact were actually going to get a bipartisan deal that were going to push both sides to get out of their comfort zone and to make the kind of compromises we need to make to get something done. >> reporter: former wyoming republican senator alan simpson says the sequester cant possibly work. he says both health care spending and social security are unsustainable in their current form, martha? martha: down this road before. wendell, thank y...

It is partisan politics. both sides signed off on the sequestration. if you put a package out there that is onerous, it would drive the parties to the table. the republicans signed off on it. they voted for it. everybodys fingerprints on this deal. it looks like it is going to happen. although it is not like the debt ceiling where immediately you feel the pain the day after. it takes a while for the pain to be felt. there is about three weeks before the money runs out for the government to funct...