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Seeing neither bills meets muster and we'll be downgrading. >> a couple of things. this bill cuts spending. this bill caps spending. this bill for the first time in 50 years forces a vote on the balanced budget amendment. we'll have a vote on that. >> sean: can harry reid table that? >> no, he can't. that's part of this deal. we'll have a vote in the house and senate on this bill. we cut spending, cap spending, and get a guarante guaranteed vn balanced budget amendment. we can't guarantee it will pass. we're getting 60% of the spending cuts we called for in our budget in discretionary spending...

The spotlight was on the house and among the 269 members who voted in support of the measure was none other than arizona congresswoman gabrielle giffords who made a surprise return to the floor. this is the first time she visited the floor since january of this year, and as you can imagine she was greeted with a stirring round after applause from both sides of the aisle. now, that incredible moment of unity in the house was preceded by a day of disagreements as republicans and democrats voiced serious concerns over this deal on the right. members for michele bachmann, senator tom coburn have s...

This tells you how far the culture has changed. we got $2.1 trillion to $2.4 trillion in spending cuts. the president started asking for a blank check, then a big increase, he got none of though, and we kept our pledge, which is we will cut more spending we will raise the debt limit by. that pledge was maintained. >> the president will get just shy of a trillion dollars -- >> 900. >> sean: $900 billion in the debt ceiling. these cuts take place over a 10-year period of time. >> that's right. >> sean: how much are we getting the first year and how much are we getting the second year? how much i...

House budget chair paul ryan. good to see you. first, let me congratulate you. not only are you dealing -- this is 111 billion dollars you are going to cut for the 2012 budget. you are dealing structurally with the bill. why didn't you tell us what you passed? >> we cut 111 billion in the first year, as you say. we also capped spending. we bring spending down to cut six trillion over a 10 year period. then we move into passing a balanced budget amendment with taxpayer limitation and spending limitations. the problem we have is spending. you have to cap spending. we capped total government spen...

Homeland security, national security. then $2 billion to $4 billion the next year. so the cuts on defense are -- were minimized quite a bit by the most recent agreement john boehner reached. more to the point, how do you bank these cuts? what conservatives like me have been fighting for years are statutory caps on spending, legal caps in law that says government agencies cannot spend over a set amount of money. if they breach that amount across the board sequester comes in to cut that spending, and you can't cut that off without a supermajority vote. we got that in law. that's here. legal caps...