Page 2 - Cuts Spending News Today : Breaking News, Live Updates & Top Stories | Vimarsana

jeanne, first question, is it time to simply say, let's go for the possible in washington? everybody has grand ideas about what they want to do. nobody, nobody can get the support to get one of those through. do we have to look for just the possible? >> i think the mission of everyone in congress is to absolutely raise the debt ceiling. they cannot get away without doing that. the s&p has been the strongest credit rating agency. they said, we're going to downgrade you if you don't come up with a plan. but they say f you raise the ceiling but give us indication that you're on the road...

effectively will not affect my ability to serve as commander in chief. >> dr. sanjay gupta will join us for a reality check. but up first, live action in the house of representatives and how it impacts a search for a deal to keep the government from a default most economist say could derail the already fragile recovery. this hour you see right there live debate. the house is expected by the end of this hour to pass the republican majority's cut, cap and balance plan. it would cut federal spending, then cap that spending and the house republicans also want a constitutional amendment...

Also that cuts spending. one thing that's interesting within this type of agreement we're talking about right now, they want to have comprehensive tax reform. when the president is saying things, we need to eliminate the economic uncertainty to have a better business environment, those are direct republican talking points. they really feel with this type of economic climate, any kind of thing they can do to get a done quicker would deal better with them in their favor. that being said, there's still discussions there's going to be a huge corporate comprehensive tax reform in this. possible low...

The budget. i brought a budget to the floor last year didn't pass that does that, reduces taxes and cuts spending. i think we should do this. that is not where this congress is going. what happened with the creation of this commission is the president sent congress a budget that is unsustainable and not credible. those are the words of the budget director and treasury secretary with that budget they said we'll have tough decisions to be made by this commission to report after the election. what i think it effectively does it gives politicians up here the ability to defer tough choices to not t...

The budget. i brought a budget to the floor last year didn't pass that does that, reduces taxes and cuts spending. i think we should do this. that is not where this congress is going. what happened with the creation of this commission is the president sent congress a budget that is unsustainable and not credible. those are the words of the budget director and treasury secretary with that budget they said we'll have tough decisions to be made by this commission to report after the election. what i think it effectively does it gives politicians up here the ability to defer tough choices to not t...