Page 21 - The Automatic News Today

Dont. we dont even come close. its a mess. and if they dont fix something on the fiscal cliff, the tax rates, which are going to go up for everyone, the automatic spending cuts, which make absolutely no sense. if you and i sat down and devised it this way, we would have our head examined. >> bill: i think they are going to come to some kind of deal. i dont think they are going to lead that happen. >> lets hope not. because if they do its going to be an economic catastrophe. >> bill: stock market...

Joining us, host of "power play" on fox influenza.com, 11:30 a.m. eastern, digital editor chris stirewalt. good to see you. >> great to be back. >> shannon: who moved? >> they all move. that congress likes to do is get itself off the hook. members of congress love to do something. thats how we got here with the triggers and the automatic. here is what we see taking shape. you heard it this morning as etch was floating it out on the sunday morning shows. they create triggers. you say the overall ...

Can say we didnt really do it. we turned down the automatic cutting machine. later it took some money away. >> shannon: hence their 9% approval rating? >> they got re-elected. most got re-elected. >> shannon: so i think about senator burning burn called dr. no, because -- senator coburn. called dr. no. he puts out the waste books. theyre entertaining. this is where we find out the taxpayer money pays for robot squirrels. the recent one is about defense spending. he says the republicans say dont ...

The automatic defense cuts triggered if theres no deal reached. im assuming theres a compromise here in the end, but i i guess the question is whats the recent reduction in spending over the next ten years for the pentagon? whats a reasonable part of the deal for na? >> i think a reasonable one is actually about the amount in the sequestration. thats a little bit less than what the boles-simpson commission had. they had about $750 billion. if you take a salmi slice cut like the sequestration bil...

Figure out how to do the automatic, $500 billion in defense cuts. unless we do "x" or wyoming. theyre up against the wall. they make the deal. then all of a sudden -- well, not all of a sudden but for a year they have known we were getting to the moment now. there are seven weeks left to get it done. >> andrea: a lot of people are questioning how they will be able to do it. i would say its not the rocky mountains, maybe the alps. arent they bigger than the rocky mountains? >> bob: were you talk ...

On that i think that thats where the deal comes. i do believe that the sequester, the automatic spending cuts, will be pushed forward, punted but on this tax issue i dont think the white house is going to move on that. i dont think they should. >> to be very clear, i mean in terms of how this works out electorally, what wed be saying is those members who were willing to do whatever we see happen, were doing it to save tax cuts for the very richest americans. so as long as the debate is framed th...

Repair your car wherever you want. barry steinberg opened his auto repair shop in watertown, massachusetts in 1974, and for decades he says he and his mechanics could fix any problem on any car. that changed in the 90s when automakers installed computers in their cars and refused to give you and other mechanics the diagnostic information. >> yes it did. the cars went from mechanical to technical, and we werent getting the full book of knowledge like the dealers had. >> reporter: which he says fo...

Cuts on our military. were saying dont cut the military by $1 trillion. not increase it by $1 trillion, dont cut it by $1 trillion. >> quickly, vice president biden on this. i want to move on. >> we dont cut it. i might add, this so-called, i know we dont want to use the fancy word, see quester the automatic cut. that was part of a debt deal they asked for. let me tell you what my friend said announcing he supported the deal, im paraphrasing, weve been looking for this moment for a long time. >>...

That there will be some type of grand deal spruk by tstruck by end of this year. maybe 2013. but congress is not very good at doing one thing. now they have to do a slew of things. the debt ceiling, cut to medicare doctors, pentagon cuts. so much to do in a short amount of time. >> so if they dont avoid the fiscal cliff totally, what might we see? could we see some type of piece meal deal here? >> i think youll see a piece meal deal that will punt it into 2013. but the credit rating agency, they...

You hear a good deal about that. and for speaker boehner championing the issues and republicans defining themselves backing away from those rules that the speaker agreed and an issue that i wanted the speaker to address. virtually every republican leader has talked with us about it. as the democratic has on this issue except for the speaker. to the democratic representative who will be leaving congress. one of those gooding blue-dog democrats, here we stand on this stuff, congressman, the automa...