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Automatic tax cuts from going into place. excuse me, automatic spending cuts from going into place. >> spending cuts. what people should know is that one way or another we're going to have $1.2 trillion in reduced spending. it could either be done the ugly way, which would happen if our committee fails. or we could do it more intelligently. but we do have the opportunity, even if the committee fails, to work around the sequester so that we still have $1.2 trillion in savings over ten years. but it's not done in the very draconian way that secretary panetta is referring to. now that will requir...

Literally what has changed? nothing. if the super committee can't come to a consensus, automatic spending cuts will kick in, $1.2 trillion over ten years to military and domestic programs. defense secretary leon panetta warns the cuts slated to start in 2013 could cripple the military. committee members don't expect a breakthrough, but the obama administration is still urging them to accomplish what they set out to do. in a statement, the white house said in part this, avoiding accountability and kicking the can down the road is how washington got into this deficit problem in the first place. ...

Protesters at close range. and i'll get an expert's analysis of the video, and what should be done next in the video of the campus police. newt gingrich's reaction to the occupy movement is still getting reaction of its own. >> go get a job right after you take a bath. >> during that same event newt teared up while discussing his failed marriages and personal choices he made. was he looking for the sympathy he's unwilling to offer the occupy protesters? moments ago on capitol hill, there was this discussion on whether or not they're going to reach a deal. >> senator bachus, is there stil...

they're acting as though it's today. is there any news in the last 50 or so minutes since we last spoke? >> reporter: since we last spoke, that impromptu meeting you and i were talking about between a bipartisan group of members of the super committee, that has broken p up. as members were leaving, senator max baucuss, facing a mass of reporters, the only way to describe it, he actually mentioned that there's possibly a new tax idea being floated possibly by senator john kerry. as you and i talked, this meeting was described by one aide earlier as kind of a hail mary pass to see if t...

Overtake hope. >> talks have taken place over the weekend. they will continue to take place. but the reality is we need to come to an agreement. we have to get it drafted and it has to be estimated by the congressional budget office by the end of monday. >> i think we are deep into the fourth quarter but there is still time on the clock. i don't think any of us wants to let the time run out without trying everything possible to get there. >> if the supercommittee fails then the law says a set of automatic spending cuts goes into effect in 2013. about $1 trillion in cuts and almost half of that...