Page 6 - Automatic Spending Cuts News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Nancy pelosi earlier today was actually the other day that you pretaped it, she seemed to indicate that democrats are bound and determined to raise taxes again. >> absolutely. you know, it is the old line the president used it during the campaign, balanced approach. it can't all be spending cuts, it has to be spending cuts and also some tax increases on the wealthy and look, it worked for them in the campaign. it worked during the argument over the fiscal cliff. i think and you see the president making the case now it is a choice between helping the middle class who the white house says will b...

City. areas of connecticut had 2 1/2 to 3 feet of snow. it will be awhile before they're cleared out. the airports are open here. but again flights are limited. you hope to get everything back into schedule as we head into this afternoon and into your sunday. alex? >> paul goodloe,safe getting down from that little pile there. appreciate it. we're going have much more coverage of this historic nor'easter coming up. we'll give you a report on the travel ripple effect this storm is having even across the world. now to politics, today first lady michelle obama is attending the funeral in chic...

>> we're living on bottled water and some potato chips. >> i hope you get home in time for dinner then. greg, thank you so much. >> sure. >> monitor the storm's path, check the forecast in your neighborhood. all there for you on weather.com. let's get to some politics, a few hours, first lady michelle obama will attend a funeral in chicago. hidea pendleton, 9/5-year-old honor student shot and kill just about a mile from the obama's family home. she participated in inaugural events just a week earlier. the president is warning the economy will get hit hard if automatic spending cuts scheduled...

No, we are not. >> even if it's from tax reform? >> if you keep raising revenues, you're not going to get different tax reform. i know you didn't want a chart, but i'm kind of a chart guy. this dream line shows you the historic taxes. the red line is tax increases. the red line, where spending is going. spending is the problem. revenues aren't the problem. if you keep chasing higher spending with higher revenues as they're calling for, you're going to hurt economic growth. you'll never catch up. you'll shut down the economy and you won't get the budget down. >> when you were campaigning in vir...

You're not going get diffentax reform. i knowou dn't nt a chart, but i'm kind of a chart guy. this dhows you the oric tes d e re is tax increases.here sp going. spendinisheproblem. revenues aren't eproblem. you keep chasing higher spending with higherevenues as they' calling for, economicowth. you'll never catch you'll shut down the economy and you won't get the bget down. >> when you were campaigning in rginia, a state you waed to cary but didn, you said, look, t sequstration cuts, these automaticng spe cu th are p in place because republicans and drats can't agree, so you have to have this s...