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Chief washington correspondent jim angle reports the pressure and enormity of their task are growing. >> the leader of the fiscal committee is urging the so-called supercommittee to go big. >> 1.2 is peanuts as we used to say in the grand stand. but they will have to go for more than that. >> both men suggested the committee not just aim for $1.2 to $1.5 trillion but $4 trillion in deficit reduction. >> $4 trillion is not the maximum amount or the ideal amount. it's the minimum amount we need to do to stabilize the debt. >> reporter: even the $1.5 trillion will be harder now that the committee...

50 house republicans have proposed the same payroll tax cut that's in this plan. you should pass it right away. this idea came from a bill written by a texas republican and a massachusetts democrat. it's the kind of proposal that's been supported in the past by democrats and republicans alike. you should pass it right away. you should pass it right away. president obama's just finished a 32-minute speech to a joint session of congress laying out $447 billion legislative plan he calls the american jobs act. the centerpiece of his proposal is cutting the payroll taxes for workers and employers...

Decade where an official comes it and says, we have reports not confirmed that something terrible might happen but go about your lives. how concerned should new yorkers and people in washington be this morning? >> i tend to go to the district over the weekend. i'm going to do like mayor bloomberg said. continue to live my life. the department of homeland security has the motto, if you see something, say something? that's what we're doing to do. beyond that, we continue to do what we always do. we're in a heightened state of alert most of the time and we shouldn't treat this any differently. >>...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.