Page 10 - Automatic Spending Cuts News Today : Breaking News, Live Updates & Top Stories | Vimarsana

36 people outside a mosque in afghanistan, 30 others were injured after gathering to mark the start of the holiday of the eid. a car bomb exploded in syria's capital despite a four-day cease-fire, the syrian army and opposition forces promised to observe the truce during the muslim holiday. and back in the u.s. a new report says the looming fiscal cliff is more costly than expected. the national association of manufacturers said the threat of automatic spending cuts and tax increases has cost 1 million jobs. let me give you the 411 on rule number one of service 101 when you deliver david...

I'm looking ahead to after the election, no matter who wins. the first item of business is this fiscal cliff. the idea at the end of the year a number of tax cuts expire and a number of automatic spending cuts on the defense side are scheduled to be phased in. i want to take one item there in particular, the bush tax cuts. we've had them for ten years now. seems the republican position is to extend all of them and the democrat is to extend for 98% of americans. what is the direction we need to go with the bush tax cuts in your mind? >> as you think about the fiscal cliff, let's focus on the de...

And ceo john lafield. you think things are bad now. this is what they are saying, quote, they are warn that this economy will enter a recession if they don't deal with the issue of the bush tax cuts. they are also saying that the economy's going to contract, that automatic spending cuts, if they are implemented and they said it will be far worse than what they ever thought unemployment will go to 9.1% and we will be in another recession. >> they said, basically, if we allow this fiscal cliff to happen fwe allow the taxes to go up and the spending cuts to happen, we're looking at over 9% unempl...

Everyone who pays taxes in this country, that first $250,000 of income, they will get the bush tax cuts. over $250,000, the clinton tax cuts, those rates will kick in. and that's why they will not go along with us. remember, they held the debt ceiling hostage, which was awful. we got a downgrade on our bonds because of it. and they're the ones who pushed this automatic spending cuts. and we could take that off the table, those automatic spending cuts, that's part of the fiscal cliff, by bringing home the money from the wars which is president obama's idea because he's bringing the wars to a cl...

And ceo john lafield. you think things are bad now. this is what they are saying, quote, they are warn that this economy will enter a recession if they don't deal with the issue of the bush tax cuts. they are also saying that the economy's going to contract, that automatic spending cuts, if they are implemented and they said it will be far worse than what they ever thought unemployment will go to 9.1% and we will be in another recession. >> they said, basically, if we allow this fiscal cliff to happen fwe allow the taxes to go up and the spending cuts to happen, we're looking at over 9% unempl...