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And consumers less confident. but, we're continuing to chip away at this problem. step by step. last year, i signed into law $1.7 trillion in deficit reduction. tonight's agreement further reduces deficit by raising $620 billion in revenue from the wealthyest households in america. and there will be more deficit reduction as congress decides what to do about the automatic spending cuts that we have now delayed two months. i want to make this point as i'm demonstrating throughout the past several weeks, i am very open to compromise. i agree with democrats and republicans that the aging populati...

Now. >> megyn: fox news alert on the new detail coming to light what just came in in the last minute deal. to head off a series of the tax hikes and spending cuts we were expecting. welcome to "america live", happy new year everyone, i'm megyn kelly. we're learning more about the budget deal congress passed late last night. this started out as a debt reduction bill and ended with spending and increase the nation's debt. didn't work out exactly as planned. the bottom line, this law will provide 620 billion dollars in new tax hikes. and 15 billion in budget cuts. and for those of you keeping tra...

Said would have if we did nothing. this deal increased deficits over ten years by about $4 trillion. the other way of measuring deficits, which is more common in washington right now, is not measuring against what the law says it's going to happen, but against where we are right now, what would have if policies, tax code, nothing changed. measuring that, this deal cut deficits by $620 billion in ten years, something in that neighborhood. either way, the current policy is closer to the truth, but now we're getting into something where we at least have a common baseline on which to discuss what ...

>> brian: months of tough negotiations fine leaning as congress finalized the deal on the fiscal cliff. but many leaders are still unhappy with the outcome pointing to this troubling ratio. for the $15 billion in spending cuts, there are $620 billion in spending hikes. so is this a fair deal? joining us right now is the chairman of the house oversight, government reform committee darrell issa. congressman, you could not get yourself to vote for it. was it because of the ratio i just went over? >> it was. the fact is that republicans stand for smaller government and fiscal responsibility. there...

Over the past several weeks has made business more uncertain and consumers less confident. but we are continuing to chip away at this problem step-by-step. last year i signed into law $1.7 trillion in deficit reduction. tonight could the agreement further reduces the deficit by raising $620 billion in revenue from the wealthiest households in america, and there will be more deficit reduction as congress decides what to do about the automatic spending cuts that we have now delayed for two months. i want to make this point. as i have demonstrated throughout the past several weeks, i am very open...