Page 32 - 650 Billion News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Deal. but for many republicans, that may mean breaking a long-standing pledge on taxes. >> reporter: the senate's back in session, and the countdown to the fiscal cliff now stands at five weeks. if congress doesn't act, $650 billion in spending cuts and tax increases automatically go into effect on january 1. there are now increasing signs that republicans may be willing to deal on the most controversial issue -- taxes. but for many republicans, doing just that would mean breaking a pledge to not raise taxes. and taking the political risks that come with it. the "no new taxes" pledge is the br...

>> right kardashians with ruining it for everybody. >> declining in that short period of time is frightening. the added element we didn't talk about is the fiscal cliff if that comes that's more than $650 billion in tax increases combined with spending cuts that would send us back into a recession. many fear we would become europe in a matter of speaking. >> here is the interesting part, i think, pete dupont concludes that he says that this recent election proves that the country has become more liberal. that's how he interprets what happened in the most recent election. we would love to hear ...

Welcome back. watching wall street this monday. the dow up more than 150 points. up by 158. will a deal be reached avoiding the so-called fiscal cliff. with the president out of the country and the congress in recess, they are holding talks through this week and will present proposals present their proposals after the thanksgiving holiday. all this follows friday's meeting at the white house between president obama and tom congressional leaders. all sides expressed optimism a deal can be reached before the january 1 deadline when $650 billion worth tax hikes and federal budget cuts would kick ...

Scrambling to head them off. >> but investors are not betting on it. those nerves leading to a 313-point drop yesterday. that's the biggest selloff of the year. abc's bianna golodryga has more. >> reporter: wall street woke up to the same president, but new worries. europe's debt crisis appears to be getting worse. there was rioting in greece over budget cuts and word that europe's strongest economy germany is in trouble. but quickly investors turned back to our looming problem, the road we are on to the so-called fiscal cliff at the end of the year. $650 billion of combined spending cuts and ...

Closing down mines and electricity plants and oil fields. we have a looming massive tax increase on january 1, we have continuing home foreclosures. that has not been stopped. median family income down by 5 percent. we have a depression here. you guys in business and the economists will tell us this is a recovery but we have had 56 straight months since the recession is supposedly began, and now they proposing another $650 billion on top of obamacare and all rest of it in more spending. now, bill clinton is not running for president because we have had new of him. >>neil: why wouldn't there be...