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Defense alone. >> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now, if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what's called the sequester, these automatic spending cuts, and that also would have a better outcome for our economy in the long term. but, you know, s...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

Early this in over uncertainty over the fiscal crisis. the primary concerns are combination of automatic spending cuts and expiring tax breaks january 1. the market gains suggest there is on the miss that congress and the white house will come up with a deal but there are deep divisions that so far have proved difficult to overcome. gerri is with us from the fox business network anchor of the willis report. >>gerri: the president and the democrats want the bush tax cuts to expire for everyone making $250,000 and more and the republicans want all those bush tax cuts to stay on the books. what t...