Page 28 - Spending Side News Today

Of last year with different cuts. >> on defense? liberals say there still should >> i know. be significant cuts to defense. but this deal is important enough that everybody ought to think its important enough to >> people say that, but well look to the pentagon for what makes the most sense for the go only over. thats what were waiting on national security needs are the now, the game of chicken to put country. but what we proposed top of the painful stuff out there. those $1 trillion savings of ...

Further in some areas, they should lay it out to us. >> you say they are in a hard spot, what do you mean? >> they are trying to figure out how to find a way to support things that they know they are going to have to do that will be very hard for them. youve heard them for the first time in two decades now acknowledge that they are willing to have revenues go up as part of the balanced plan. thats a it good first step but they have to tell us what they are willing to do on rates and revenues. an...

Cuts to the pentagon and we could be back to the recession. as the financial times points out they endorsed president obama. this is the same kind of proposal that president obama took to congress two years ago that got zero votes. this is the exact heavy on the revenue side, $1.6 trillion on tax increases, low on spending side and then he adds $200 billion of new spending. on top of that something weve never heard of before, he wants congress to basically give up the authorization to raise the ...

Really changed? what has changed in your point of view? >> they have acknowledged for the first time in decades, i think, that revenues are going up. thats good. but we need to know what they are prepared to do on rates and revenues and on the spending side. again, we have laid out a detailed plan of spending cuts. $600 billion in spending in mandatory programs over 10 years. they phase in gradually, build over time. they are good policy. they make a lot of sense. on top of $1 trillion in spendi...

Republicans, many of whom were re-elected just like the president was re-elected in their own districts and say, look, were going to get specific when it comes to the tax increases we want, but well be vague when it comes to stuff thats hard for our side, which is medicare. >> thats a misperception. we propossessed $600 billion in savings. people can take a careful look at them. what we havent seen from the republicans is a plan to raise rates and revenues. they said they are prepared to raise r...

Sequester stay on the defense spending? >> were talking about the cuts of last year. we want to replace the sequester of last year with different cuts. >> on defense? liberals say there still should be significant cuts to defense. >> people say that, but well look to the pentagon for what makes the most sense for the national security needs are the country. but what we proposed top of those $1 trillion savings of last year is $600 billion in detailed reforms to our health care programs and other...

Virginia wholl be joining your ranks there. he talked about sliding that scale, going up to maybe $500,000, up to $1 million. are democrats flexible that way? >> we are certainly willing to listen. but our principle objective is to protect the middle income families. its difficult to see how you can get enough revenue unless you increase the -- allow the rates to go back for those over $250,000. but were willing to listen to other proposals. but what were not willing to do is to put an additiona...

Medicaid, we also help our economy and employers and everyone else who have health care expenses. so we need to get that done. theres a certain amount that can get done in the next couple of weeks, but we need to get our committees instructed to bring in the type of savings that we need on the spending side. >> what about the mortgage deduction, sir? might be on the table at some point? whats the sales pitch to constituents to rely on it. >> many of us are urging reget the revenue through the ra...

We still have donny deutsch and katty kay with us. chuck todd, lets go to you first. does it appear, through all of the bobbing and weaving and the tap dancing that the outlines of a deal may be coming together behind the scenes? were hearing $1.2 trillion in tax revenue. >> reporter: yeah. >> were hearing $400 billion in medicare cuts. is this a false spring? >> reporter: i think were a little ways away from the, quote, deal coming together. geithner today, tim geithner, whos leading negotiatio...

If you could bet on the odds of a deal what would they be? >>guest: i never thought they could do the big deal by the end of the year there isnt time to put those pieces together but i think there are two alternatives now, and one is they basically kick all the cans down the alley, the sequestration spending can and the tax increase can and they decide three, four, six months from now. the other alternative is to do the tax piece in some fashion that the president is talking about but i think th...