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Part of a new film that chronicles the lives of modern-day superstars. look at that. his fellow with the safest to get on this run. it is the scariest thing he has ever done. i don't know how he made it out. bill: you don't eat lunch on a run like that. the federal government rakes in more dough than ever but still in the red by a mile. text and clayton $404 billion in the first two months of the fiscal year despite all the all-time high in tax receipts the government still spending more money than it takes in. why is that? stuart varney, hello, sir. i showed the $440 billion figure, this is t...

Money that will hit the economy. $440 billion in tax increases. what are those tax increases? bush tax cuts expire at midnight tomorrow night and you'll wake up the next morning and face a higher tax rate unless congress acts. there's also a possibility of a $108 billion in spending cuts. this is largely the defense department as we talked about and also money that ends up in people's pockets. there's an economic impact. >> i misspoke, i said tuesday at midnight. tomorrow at midnight. >> yes, december 31. >> the money is personal for people. you start to talk about budging a household. for the...

Jim angle has the details. >> the fiscal cliff was crafted to be so distasteful, officials would do any and everything to avoid it which obviously did not work. >> we go over it, we could be in a recession next year. it would decrease the size of the economy. >> the fiscal cliff is $440 billion of taxes and $200 billion of spending cuts. so going overt full fiscal cliff is a recipe for recession. there is no question about it. >> not the way mr. obama wants to begin his second term. the fiscal cliff and spending cuts will wreak havoc. spending cuts would take $1.2 trillion over ten years, 100 ...

Wealthy. in 2009, 3.9 million filers reported adjusted gross income of $200,000 or more. that represents 3% of all federal tax returns. that paid around 30% of all of the income taxes that are paid in this country. so we're going to break this down. we'll really talk about this, analyze the best way to deal with all this. bill: a former congressional budget director, warning that failure to act on the fiscal cliff could have disasterous consequences for the economy. doug holtz-eakin saying it could lead to yet another recession. >> these are big cuts, 10 to 14% in programs, a quarter of the wa...

Did not work. >> we could be in a recession next year and it could decrease size of the economy. >> fiscal cliff is $440 billion of taxes and $200 billion of spending cuts. going over the full fiscal cliff is recipe for recession. >> not the way mr. obama wants to begin the second term. the fiscal cliff and simultaneous cancer jens of tax increases an spending cuts will wreak havoc with the economy. spending cuts for instance take $2.10 trillion in ten years. >> these are big cuts, 10-14% in programs quarter of the way through the fiscal year. that is bad policy and dangerous. >> the biggest s...