Page 75 - The Sequester News Today

Most important piece is the piece that what -- has to be done now, preventing the class hikes. >> a lot of republican aides are accusing the white house of moving the goalpost by, at the late hour, throwing in this other issue, the sequester, the defense and domestic cuts that are obviously a big issue but they feel like they can do that in a couple of months. the bigger concern is they have worked out an agreement on all the different taxes due to kick in so mcconnell is pointing out, lets do t...

Republicans been willing to take the deal that i gave them, if they say that peoples taxes have gone up, which means consumer spending is going to be depressed, then obviously thats going to have an adverse reaction on the markets. >> what about spending cuts? those take place january 1 as well. do they have to be part of the deal? you have half of those cuts in defense alone. >> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spendi...

>> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didnt figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off whats called the sequester, these automatic spending cuts. and that a...

>> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didnt figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off whats called the sequester, these automatic spending cuts. and that a...

Throughout this entire episode hoping she makes a full recovery as quickly as possible. because this information is just coming into us, there hasnt been a reaction from the white house at this point, and theyre really referring all these questions to the state department, which is really helping us to navigate how shes doing and how her recovery is going. again, the bottom line is that she is expected to make a full recovery. of course, a lot of people, including the white house, concerned last...

Learning so much from sound bites at this point that weve come to this point on the calendar. republicans are trying to make this point today, that it isnt just about taxes but spending cuts. >> thats right. half of the fiscal cliff is the fact that the bush tax rates are expiring midnight tonight. weve focused on that, whose taxes are going up, is it $250,000, or $400,000. the sequester, the spending cuts to the pentagon and elsewhere kick in. the bottom line is when you talk to republican sena...

Every year. over a trillion dollars. its not sustainable. >> but doesnt -- im saying, if we -- all of these issues, with all the bush tax cuts going away, the sequester, payroll tax expiring, the estate tax, if we do all the stuff that the fiscal cliff or the fiscal curb, whatever you call it does, the deficit problem is solved? >> no. i have no idea what the specific number is but i know were over $16 trillion in debt and like i said, were spending a trillion more a year than we currently have....

Well. half of those cuts are in defense alone. >> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didnt figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off whats called the seque...

$800 billion, amy, i dont know if you have kids -- >> i have one. >> i have two. when were looking at the what the sequester is going to do and the name of budget -- of the deficit, were literally going to take 1.6 million kids are going to lose education benefits. weve seen 26 states cut education funding. if you wanted as jeechlt amele said, if you want to go after the economy and deficit we got to get people working and the way to do that is we invest in our children. my kids go to public sch...

Richard? >> kristen, i didnt hear much talk today about the sequester, big spending cuts people are talking about. didnt hear also about the debt creeling that tim geithner, the treasury secretary was saying wed need to raise pretty much any day now. is this going to be the next couple of months in terms of this debate? does the white house have a strarjgy for dealing with both in the next face? >> well, theyre quite clear that theres probably just too much at this point to put that in this init...