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>> i can't understate the cuts would do to our military. they would hollow out our armed forces. >> reporter: military pay and veterans pay are exempt but some jobs are in jeopardy and some military contractors are looking to trim their staff. >> there is a requirement that employers give an advance notice. it would come ironically couple days before the election. >> reporter: chairman of the senate armed services committee says the need to compromise on plan that makes prudent spending cuts and restores revenue is urgent. speaker of the house john boehner says the house passed a bill in may t...

outfront 1, breaking news. america's biggest bank hosting an emergency call as its stock falls. why? jpmorgan is facing significant losses and says it took more risks than it should have. the losses to this point, the company says, to the tune of $3 billion. here's some of the things the ceo jamie diamond just said moments ago on the call. he said the trades were, quote, flawed, complex, poorly reviewed, poorly executed and poorly monitored. these were egregious mistakes and self-inflicted. just because we were stupid doesn't mean anyone else was. there were many errors, sloppiness a...

-- captions by vitac -- www.vitac.com anyone cheering president obama's new stance on same-sex marriage has vice president joe biden to thank. the president himself is now confirming what many had suspected that the vice president forced the president's hand when biden announced his support for gay marriage over the weekend and now we're hearing that's a sore subject at least among some white house insiders. our chief white house correspondent jessica yellin is working the story for us. what are you hearing over there, jessica? >> reporter: wolf, there are times when a president is...

Really brought it into the center of talk for most people maybe more so than politicians. i want you to take a look at what he said on his show last night, responding to senator cassidy. >> i'm sorry he does not understand. >> oh, i get it. i don't understand because i'm a talk show host, right? then help me out. which part don't i understand? is it the part where you cut $243 billion from federal healthcare assistance? am i not understanding the part where states would be allowed to let insurance companies price you out of coverage for having pre-existing conditions? maybe i don't understand ...

Done are supporting these big corporations who are paying minimum wage to the tune of $243 billion. so one would think that even the tea party would see this as an economically feasible strategy to address jobs and to lift people out of poverty, but for some reason they won't. it's really very mean-spirited, i must say. and i hope that sooner or later, we'll see some breakthroughs this year. i'm very please that the president has said he is going to issue executive orders, when in fact congress won't act. that's what needs to be done. too many people are living on the edge. >> congresswoman le...